short italy positions. not as optimistic, i am shorting italy right now because it seems to be a one-way trade every day where spreads continue to tighten almost every day. short italy positions. i would agree with the previous guest, it does not make a lot of sense, but i think the tough part with the european peripheral bond markets seem to oscillate which makes more inherent sense for us. right now there are trading more like a rates market area without duration volatility, spreads seem to find tetter every day. fundamentallot of problems with italy, and there could be some volatility and around the election. it has been a tough trade to be short there given the never ending spread tightening. jonathan: eric touches on something important. after the eurozone debt crisis, peripheral europe started trading like credit. are we going to see peripheral europe trade like credit or a rates market? one or the other? lisa: i think once the ecb exit it comes clear, it will start to trade more like a credit market

italy positions. optimistic with italy because it appears to be a one-way trade where spreads continue to tighten almost every day. i would agree with the previous guest that it doesn't make sense but the tough part about the european bond markets is that they trade like a credit market and credit spread that makes more inherent sense for us. volatility, itn grinds tighter every day, so a lot of fundamental problems with italy and or could be volatility around the election. >> eric touches on something important. after the crisis, are we going to see trade like credit or a rates market? once the ecb market begins clear, it will trade like icredit market, less like -- should say more like a rates market and less like a credit asset. lisa sticking with me, alongside kevin giddis, and next on the program, who will walk you through the spread. here is a check at the markets. yields higher through the week, and what a move you have seen in the u.s. treasury, up 17 basis points on the week so far. it is a s

the state of the news from berlin the syrian rebels shoot down a russian warplanes in italy province footage on social media claims of shells around that's the crash the pilot parachuted out of the plane but was then killed in fighting on the ground and she hottest group with ties to al qaeda has claimed responsibility also coming up a drive by shooting spree in italy leaves six people wounded the interior minister says it was motivated by racial hatred the twenty eight year old italian man is now in custody. and super bowl fever is taking hold in the u.s. the new england patriots and the philadelphia eagles are preparing to do battle for america's top athol prize. bans that descended on minneapolis ahead of the game for some this is close as they'll get the tickets are selling for thousands of dollars apiece. and bring. out the big. welcome to the show my name sarah harmon it's good to have you with us. al qaeda linked militants have claimed responsibility for killing a russian pilot after shooting down his fighter jet over syria's northwestern italy province russia's defense minist

do you want to be short italy or spain? lisa: i definitely want to be short italy. we forget there is an election coming up soon. before the french election last year, french yields sold materially. i think the market is forgetting about that. i think italy has not participated in the selloff in rates last few weeks. this is it a market that is materially mispriced. jonathan: mispriced by how much? the reason i ask this question the timewhat is arising for this trade? is this something that is going to have more sustainable upside? yields higher and yields higher again. lisa: i cannot make a promise. i think it is a structural trade. if you look at the dependency ratios in italy and the demographic issues that italy is facing over the next several years, it is not a pretty story. i think it is more structural. but in the near term, we have to come to terms with the fact that the ecb has been buying the net debt in europe, and are stepping away from that market. jonathan: eric, you talked about how you would be willing to short japan, but only at the long end. would

it can also be a challenge to raise capital in italy maybe we don't have. a printer ship now and so if you want to do technology maybe you need the great investments and here. is how and it's difficult to. raise funding since so maybe counters that are more profitable more of them more easy then the. italy's economy is not in great shape the banking sector remains fragile with lots of bad debt on the books. poverty is widespread. the economy is still smaller than before the two thousand and eight financial crisis though it has been growing slowly for the past three and a half years. melanne is italy's financial and industrial capital and its leading startup hub. it's where the online wealth manager money farm was set up in twenty eleven it's a so-called robo investment advisor co-founder paolo got viney raised twenty five million euros of venture capital though not all of it in italy our ambition always been to become a european player so. when we started we started in italy but then of course the move to long was in some way for a series of elements or lac

melanne is italy's financial and industrial capital and its leading startup hub. it's where the online wealth manager money farm was set up in twenty eleven it's a so-called robo investment advisor co-founder paolo got viney raised twenty five million euros of venture capital though not all of it in italy our ambition always been to become a european player so. when we started we started in italy but then of course the move to long was in some way for a series of elements or lack of capital for instance. looking for capital to scale the combine it was. was basically the only way of making it it was was so u.k. guns loni says doing business in italy is not as tough as it used to be he cites recent changes to the law that make it easier to set up innovative companies and says milan is at the forefront. is becoming more kind of an examples that the. trying to just like copy and move in that direction so. i perceive me. as a more as a leader rather than back by the overall situation. italy elects a new parliament on march the fourth and the question is what economic p

melanne is italy's financial and industrial capital and its leading start up. it's where the online wealth manager money farm was set up in twenty eleven it's a so-called robo investment advisor co-founder paolo got vani raised twenty five million euros of venture capital though not all of it in italy our ambition always being to become a european player so. it's when we started we started in italy but that of course the move to longer was in some way needed for a series of elements or lack of capital for instance. looking for capital to scale the combine it was. was basically the only way of making it it was was so u.k. got loni says doing business in italy is not as tough as it used to be he cites recent changes to the law that make it easier to set up innovative companies and says. milan is at the forefront. is becoming more kind of an example the rest of you trying to just like copy and move in that direction so. i perceive me. as a more as a leader rather than backed by the overall situation. italy elects a new parliament on march the fourth and the questi

melanne is italy's financial and industrial capital and its leading startup hub. it's where the online wealth manager money farm was set up in twenty eleven it's a so-called robo investment advisor co-founder paolo got viney raised twenty five million euros of venture capital though not all of it in italy. always been to become a european player so. it's when we started we started in italy but then of course the move to long was in some way needed for a series of elements or lack of capital for instance. looking for capital to scale the combine it was. was basically the only way of making it it was was for u.k. . he says doing business in italy is not as tough as it used to be he cites recent changes to the law that make it easier to set up innovative companies and says milan is at the forefront. is becoming more kind of an example that the rest of the italy's trying to just like copy and move in that direction so . i perceive me. as a more as a leader rather than backed by the overall situation. italy elects a new parliament on march the fourth and the question i

if you look at the dependency ratios in italy and the demographic issues that italy is facing over the next several years, it is not a pretty story. facing over the next several i think it is more structural. but in the near term, we have to come to terms with the fact that the ecb has been buying the net debt in europe, and are stepping away from that market. jonathan: eric, you talked about how you would be willing to short japan, but only at the long end. would you be willing to short italy? eric: in our eaton vance global macro strategy, we have had short positions going back to 2005 and 2006 with greece and italy, more recently we had short italy positions. not as optimistic, i am shorting italy right now because it seems to be a one-way trade every day where spreads continue to tighten almost every day. i would agree with the previous guest, it does not make a lot of sense, but i think the tough part with the european peripheral bond markets seem to oscillate which makes more inherent sense for us. right now, they trade more like a rates market. ♪ jonathan: i am jonathan ferro.

england— italy on sunday. that could bea england— italy on sunday. that could be a good omen for wales, going very well in common —— colwyn bay. you think —— you just feel like england, france and ireland are doing better than scotland and italy. the world cup was a great success last yea r, italy. the world cup was a great success last year, so i think those three teams would be ahead of wales, scotla nd three teams would be ahead of wales, scotland and italy, but it is a great start for wales, and hopefully that will be a sign of things to come for the rest of the weekend. there has been a lot of chat about the scots, could it be their year? a long time since they had a big win away from home, 16 years since they last won here. but do you sense a real resurgence in the scottish team, what gregor townsend is doing for them? i think whenever you play scotla nd for them? i think whenever you play scotland in the past they were well drilled, now they have a six —— serious x factor. they have got lots of confidence, they come down to wales w

melanne is italy's financial and industrial capital and its leading startup. it's where the online wealth manager money farm was set up in twenty eleven it's a so-called robo investment advisor co-founder paolo got vani raised twenty five million euros of venture capital though not all of it in italy our ambition always being to become a european player so. when we started we started nearly but not of course the move to long was in some way for a series of elements or lack of capital for instance. looking for capital to scale the combine it was. was basically the only way of making it it was so u.k. . loni says doing business in italy is not as tough as it used to be he cites recent changes to the law that make it easier to set up innovative companies and says. milan is at the forefront. milan is becoming more kind of an examples that the rest of you trying to just like move in that direction so. i perceive me. as a more as a leader rather than backed by the overall situation. italy elects a new parliament on march the fourth and the question is what economic

time helen humphrey good to have you with us in italy at least six people have been injured in a drive by shooting in the city of much outta the twenty eight year old man is now in custody all of the victims were forward as it evolved to suspect the attack may have been racially motivated. police say the suspect drove his car along this road and opened fire on posses by several wounded one is said to be in a serious condition all the victims were african immigrants. i was supposed. to go in but it would a short little more like disappointed in the. business and said because i was shooting you know feel a little pinch. some of the injured was standing in front of this bakery the owner says she's shaken by the violence. a shot right through the window of my bakery i'm really not well something like this isn't easy for someone of my age i need to leave food for today. reports of the shootings happened just days after another violent attack name. the dismembered body of an eighteen year old italian woman was discovered outside the city take an idea in migrant has been arrested in connectio

his health, home and job rely on his permit to stay in italy. more than 5 million foreign citizens now live in italy according to the latest government figures with most originating from outside the european union in the last seven years more than 750,000 migrants have crossed the mediterranean to reach sicily's coastline prompting an increasingly divisive debate that has upended italy. this party was found to win intense for northern italy but is campaigning for votes in the deep south, including sicily where sabina is one of its parliamentary candidates sicily has become a big refugee camp, she told me. the mediterranean was a culture of trade, tourism but has become a place where human traffickers bring lots of people and give them false hope. she said italians need a law to block new arrivals to its political opponents, this has represented the public face of italian racism. alongside its coalition partners it may have a chance of winning majority in this weekend's vote. she said sicilian voters support the plan to deport half a million migr

would you be willing to short italy? eric, you talked about how you would be willingeric: wt positions going back to 2005 and 2006 with greece and italy, more recently we had short italy positions. not as optimistic with italy right now because it seems to be a one-way trade every day where spreads continue to tighten almost every day. i would agree with the previous guest that it doesn't make sense but i think the tough part with the european peripheral bond markets seem to oscillate which more inherent sense for us. without duration volatility, it grinds tighter every day, so a lot of fundamental problems with italy and there could be some volatility around the election. trade to bea tough short there given the never ending spread tightening. jonathan: eric touches on trade to be something important. after the crisis, are we going to see trade like credit or a rates market? one or the other? lisa: i think once the ecb market begins clear, it will trade like a credit market, less like -- i should say more like . rates m

had short italy positions. not as optimistic with italy right now because it seems to be a one-way trade every day where spreads continue to tighten almost every day. i would agree with the previous guest that it doesn't make sense but i think the tough part with the european peripheral bond markets seem to oscillate which makes more inherent sense for us. without duration volatility, it grinds tighter every day, so a lot of fundamental problems with italy and there could be some volatility around the election. it has been a tough trade to be short there given the never ending spread tightening. jonathan: eric touches on something important. after the crisis, are we going to see trade like credit or a rates market? one or the other? lisa: i think once the ecb exit begins clear, it will trade like a credit market, less like -- i should say more like a rates market based on fundamentals and less like a credit asset. jonathan: lisa sticking with me, alongside kevin and eric stein. next on the program, who will wal

scotland and italy are bottom without any points. france's men are being investigated after their defeat to ireland yesterday for their use of head injury assesment protocols. six nations organisers will be looking at two incidents which saw french players forced off the field with knee injuries. but both players were also registered as requiring head injury assessments. antoine dupont‘s departure meant that maxime machenaud was allowed to return, which would not have been permitted if the head injury asssessment hadn't been cited. in the women's six nations — italy and england are locked in a tight contest. england put in a huge second half performance to win 42—7. great britain were defeated 3—1 by spain in their davis cup tie after cameron norrie lost in four sets, to albert ramos—vinolas. but it was another excellent effort from the world number 114 who had pulled off a massive comeback victory in his first singles rubber on friday. joe lynskey watched the action. the davis cup is where tennis turns tribal. it requires

in italy, our correspondent james reynolds sent this report from rome. these demonstrators have a simple message — we reject fascism. the fact that they feel compelled to say this more than seven decades after italy's fascist government fell says a lot about the atmosphere in this country right now. translation: our family has told us what it was like. the history of fascism is still close to us. we can't remain indifferent in front of the new fascism of 2017 and 2018. translation: above all in this electoral campaign, hate is increasingly invading our society. and that hate has turned to violence. at the start of february, a far right campaigner drove through a central italian town, shooting at migrants from africa. the gunman ended his assaults by giving a fascist salute. italy's prime minister paolo gentiloni, here at the anti—fascism rally, has said that hate and violence will not divide his country. presidente, this has been a dangerous and angry campaign. what's your response? he prefers not to answer. the increase in migration and the response

this is you know big news coming to live from berlin a syrian rebel shoot down a russian door plane in italy province footage appearing on social media claims the show remnants of the crash pilot career shoot it down but was killed in fighting on the ground and you caught a scroope with ties to al qaida has claimed responsibility. and a drive by shootings three in the city of much of it leaves at least six people wounded police believe this attack was racially motivated this twenty eight year old italian national is now in custody. and super bowl fever is taking hold in the united states the new england patriots and the philadelphia eagles are preparing to do battle with the u.s. is biggest football prize. to say that. fans have descended on minneapolis ahead of the game but first song in this experience is the closest they'll get those tickets selling for thousands of dollars every. day now the. little. odd. time sarah harmon welcome to the show it's good to have you with us. al-qaeda linked militants have claimed responsibility for killing a russian pilot after shooting down his fighter je

this is do every news coming to live from berlin and tells of people in italy where only against war he says a large around the country old week after a neo nazi opened fire on how the migrants italians are gearing up for a watch and migration is becoming a key issue also coming up israeli prime minister binyamin netanyahu says there's no experience so dear old world this program and syria only airstrikes on saturday this after syrian forces shot down an israeli fighter jet targeting along insights there. and it is dates here at the winter olympics in chad we'll bring you all the latest action including seventeen year old brad gerard's incredible win in the men's slope style of film school in the united states. i'm sara hong welcome to the show it's good to have you with us we begin with some breaking news just coming in a russian passenger plane operated by sour tall airlines is reported to have crashed just outside moscow sixty five passengers and six crew members along board the plane when it went missing on radars shortly after taking off from the moscow airport all seventy one p

the state of the news from berlin and syrian rebels shoot down of russian warplanes in italy province footage on social media claims to show the remnants of the crash the pilot parachuted out of the plane but was then killed in fighting on the ground and she called a screw with ties to al qaida has claimed responsibility also coming up a drive by shooting spree in italy leaves six people wounded the interior minister says it was motivated by the racial hatred of the twenty eight year old italian man is now in custody. and super bowl behavior is taking hold in the u.s. the new england patriots and the philadelphia eagles are preparing to do battle for america's top football prize. fans have descended on minneapolis ahead of the game for some this is close as they'll get the tickets are selling for thousands of dollars apiece. now. welcome to the show my name sarah harmon it's good to have you with us. al qaeda linked militants have claimed responsibility for killing a russian pilot after shooting down his fighter jet over syria's northwestern province russia's defense ministry has conf

our italy correspondent james reynolds reports from rome. these demonstrators have a simple message — we reject fascism. the fact that they feel compelled to say this more than seven decades after italy's fascist government fell says a lot about the atmosphere in this country right now. translation: our family has told us what it was like. the history of fascism still is to close to us. we can't remain indifferent in front of the new fascism of 2017 and 2018. translation: above all in this electoral campaign, hate is increasingly invading our society. and that hate has turned to violence. at the start of february, a far right campaigner drove through a central italian town, shooting at migrants from africa. the gunman entered his assaults by giving a fascist salute. italy's prime minister paolo gentiloni, here at anti—fascism rally, has said that hate and violence will not divide his country. presidente, this has been a dangerous and angry campaign. what is your response? he prefers not to answer. the increase in migration and the respon

our italy correspondent james reynolds reports from rome. these demonstrators have a simple message — we reject fascism. the fact that they feel compelled to say this more than seven decades after italy's fascist government fell says a lot about the atmosphere in this country right now. translation: our family has told us what it was like. the history of fascism is still close to us. we can't remain indifferent in front of the new fascism of 2017 and 2018. translation: above all, in this electoral campaign, hate is increasingly invading our society. and that hate has turned to violence. at the start of february, a far right campaigner drove through a central italian town, shooting at migrants from africa. the gunman ended his assaults by giving a fascist salute. italy's prime minister paolo gentiloni, here at the anti—fascism rally, has said that hate and violence will not divide his country. presidente, this has been a dangerous and angry campaign. what's your response? he prefers not to answer. the increase in migration and the respons

union italy maybe the third largest economy in the eurozone but it has been struggling with crippling debt talent finance chief say a recent recovery could we derive held by the elections former prime minister silvio berlusconi and his center right dolly are fairing well in the polls even though he was banned from running for public office over a tax fraud conviction in may even become a key power broker after the vote and there's the rise of the euro skeptic five star movement that too could spell some trouble for the e.u. bloc of the five star movement is currently the single most popular party according to recent polls at least it's candidate luigi demaio won twenty five percent of the vote in the twenty thirteen general election you spoke exclusively with the leader of the five star movement about his party's chances in the country's economy. everyone talks about european ism but when it comes to giving solidarity to other countries they show a little support and i hope the germans can retrace the steps to block migrants from greece and italy from seeking relocation them because a

what to be sure of italy and spain here? >> sure. we forget there is an election coming up very soon. last year, french markets hold off materially. i think italy probably has not participated in the selloff in late's -- rates over the last few weeks. jonathan: mispriced for how much? is this get in and get out orders it something that will ?ave a more sustainable upside >> i can't make a promise. i think it is a more structural trade. if you look at the dependency ratios, that demographic issues italy is facing over the next couple years is not a pretty story. i think it is more structural ,ut in the near term, the ecb the vast majority of the debt -- jonathan: you talked about how you'd be willing to short japan but -- >> we've had short positions going back to 2005, especially with greece and italy more recently. shortingtimistic, i am italy right now because it seems to be a one-way trade every day were spreads continued to tighten almost every day. it does not make a lot of sense. they seem to oscillate between trading like a cr

how do you find tax cuts in italy? mario: a positive to be put on no party, either populist or not, has any longer in their program the idea of leaving the euro, calling a referendum to leave the euro. indeed the issuance of costly promises is virtually limitless. what will happen? i'm not too concerned that these promises will be honored. luckily, they will not be honored. ut what will be the explanation of parties promising so much the day they have to cut down on promises? the culprit will be europe because european constraints will not allow them to fully deliver on the promises. this is the traditional division of jobs between nation of politics and euro politics except that every round of this game, the gap between the domestic public opinion and europe grows. in may 2019ill have the european elections for the european parliament, i would not rule out that the settling down about livingdeas the euro might come up again as the populist parties, say six months from now when the european elections approach. then the

just 31 years old, he wants to be italy's youngt prime minister ever. at this ro university, where he's making a campaign stop, he could almost blend in with the students. it's an unlikely setting for a man who has done everything from waiting tables to being a stadium attendant at soccer matches and never graduated from college himself. so, you're 31 years old, dropped out of college and now you're running to become the minister of italy. how do you respond to that allegation tt you are just not cut out to run this country? >> ( translated ): berluscon for example, criticizes me for having worked as a steward at the soccer stadium in naples. but it's his fault, and the fault of people like him, for such high youth unemployment in italy.he wheny make fun of me for my jobs, they're making fun of ann entire generatthat they'vebe ayed. >> reporter: berlusconi is of s courvio berlusconi, the larger-than-life, three-time prime ministermoas equally faus for a tax fraudic convon amid a slew of scandals. upon resigning in 2011, he left d.e country reeling, and

and seven tries for england as they sweep aside italy in the six nations. as they sweep aside italy good evening. in a crucial week for talks with the eu over future trade arrangements, the home secretary says the uk will not ‘surrender too quickly‘ in its bid for a bespoke deal. amber rudd also hit out at the brexiteer conservative mps, saying the cabinet was more united on brexit than they might think. tomorrow, the eu's chief negotiator, michel barnier, will be in london for talks. michel barnier, will be later in the week, a cabinet committee will be seeking to agree on future policy. committee will be seeking our political correspondent, eleanor garnier, reports. putting the uk on the world map, the prime minister's been preparing for life outside the eu, taking tea in china, and helping to secure billions of pounds of business deals. billions of pounds of business but reaching agreement on the other side of the world perhaps much easier than solving disagreements in her own of disunity about the type of brexit they want. i have a surprise for the brexiteers, which is the commit

more than 9000 were smuggled into italy in 2016 alone. princess okokon has made it her life's mission to free as many of them as she can. princess: the first contact is not easy for the girls to speak their problems. so i normally give them my contacts and the phone of the office and address, so that in case if they have a mind to speak with me. because most of the time they are in groups, so they will be afraid of one or maybe two might let their secret out. reporter: her first approach of the evening. princess has to be careful the pimps don't notice her. this woman says she's been working here every day for two years. when her children are older she says, she'll finally be able to get away. princess warns her to always use condoms, and she says she does. princess: you use a condom always, though? >> yes. princess: ok, bye-bye. reporter: princess and her husband alberto run the ngo piam, which tries to help those forced into the sex trade. like this desperate nigerian woman who tells princess about her pimp -- a woman. princess: what ha

i want to clean italy i want more in. poignant less crime we have little these are legal immigrants who are destroying it's illegal and the all over the country there is a sense of hardening attitudes in the southern city of one neo fascist group came out to defend its positions meanwhile in the capital rome the fear of a return of italy's fascist pos prompted five separate demonstrations railing against the agenda of the far right this is a country which has always had sharp divisions in the political scene but there is a fear that violent tensions of the past are making a return the sluggish economy has made many here feel hard done by and there is little trust in mainstream politicians to result it sunny diagonal al-jazeera. tributes a poor ring in because for the bollywood actress three davy who died suddenly at the age of fifty four she appeared in more than one hundred films but it was all expected performance in a single movie that would transform her into india's first female super saw mariana holland reports than

visit to every news coming to bomb problem and syrian rebels shoot down a russian warplane in italy province footage on social media claims to show when's the crash the pilot parachuted out of the plane but was killed in fighting on the ground and she caught a scroope with links to al qaida has claimed responsibility also coming up a drive by shooting spree in italy leaves it looks at least six people wounded interior minister says this killing me the shooting was motivated by racial hatred the twenty eight year old italian band is now in custody. and super bowl fever takes hold in the u.s. the new england patriots are the philadelphia eagles are preparing to do battle with the biggest football prize in the country. as you can see fans of descended on minneapolis ahead of the game with for some this is as close as they'll get the tickets cost thousands of dollars. out. of the show my name sarah harmon thanks for joining us. linked militants and claimed responsibility for killing a russian pilot after shooting down his fighter jet over syria's northwestern edley province flushing officials sa

many people are looking at italy and spain as if they are credits. we had a viewer sent a question on the bloomberg terminal, try to understand why the spread is not widening here. why isn't it? jeffrey: you have a lot of distortion in the european fixed markets because of the role of the ecb, and quantitative easing and the persistence of quantitative easing going back to doing whatever it takes. we haven't had a real credit market in europe ever since that time period. this is financial repression. financial repression is an explicit policy to hold everything together so you buy time to let the fiscal and political side work itself out. so the bond market signals are not real price signals. jonathan: nick, you are in london. you are closer to the heart of all of this then we are. the spread between bunds and bdp. we talked about where the spread would be after an italian election. we have a very different view of things. why are we so much more comfortable? nick: when you look at levels of support for the euro in a country like italy, it is higher

this is due to every news coming to long from berlin italy in shock a drive by shooting spree in the city of march out on to leeds at least six people wounded police believe the attack was racially motivated a twenty eight year old italian man is now in custody also coming out. syrian rebels have shot down a russian warplane over italy province and killed the pilot footage appearing on social media claims to show remnants of the crash russia's defense ministry says it's already retaliated with a strike on the ground. and super bowl takes hold in the u.s. where the new england patriots and the philadelphia eagles are preparing to do battle for the u.s. is top football prize. banter descended on minneapolis ahead of the game but for sung the fan experience is the closest they'll get tickets are going for thousands of dollars apiece. on sarah harmon it's good to have you with us. in italy at least six people have been injured in a drive by shooting in the city of much off a twenty eight year old italian man affiliated with the country's far right is now in custody all of his victims wer

group with ties to al qaida has claimed responsibility also coming up a drive by shooting spree in italy leaves six people wounded the interior minister says this was motivated by racial hatred twenty eight year old italian man is now in custody. and super bowl fever takes hold in the u.s. the new england patriots and the philadelphia eagles are preparing to do battle for america's biggest football prize. in the. balance of the senate on minneapolis ahead of the game but for some this is as close as they'll be getting with tickets going for thousands of dollars apiece. i'm sara harmon it's good to have you with us. al qaeda linked militants and claimed responsibility for killing a russian pilot after shooting down his fighter jet over syria's northwestern at the province russia's defense ministry is consolingly answer that and says it's already retaliated with a strike on the rebels. the somebody from at the moment the column of smoke marks the place where the russian war plane came down its pilot was able to parachute to the ground but not to safety russia's defense ministry says he die

even if they put up interest rates in europe, it will not affect italy too much. nonetheless, a significant change. it has been quite 0k and then there is the election. you have two main groups. the populist parties, the five—star group. they have had its day to a great extent. and then, who else, are less grainy! he is back! —— bellesconi. at least a lookalike. the canopy prime minister, but he could lead the party that leads the country. —— he cannot be prime minister. he has a lwa ys cannot be prime minister. he has always been in the background. not that long ago, people were concerned italy may need a financial bailout on the part of the troike, which we cannot say anymore. but things are looking more robust. we were worrying about the banking system for some time. that has gone away, but not entirely. it is still a huge problem. but the economy has picked up. look at the interest rates, the yield on italian bonds, and portuguese bonds, they are the same as americans at, which makes not much sense. but it shows the change. 500 jobs are going in inve

affect the economy and the boom situation in which we are in right now you mention italy that greece spain and italy indeed all growing so can we say the euro crisis is well and truly over now it's just been covered by the e.c.b. one terry policy the negative interest rate so if you took these options two to. structure and change your public debt situation is germany did it's good but in italy they haven't done it they state of bliss one hundred thirty five percent g.d.p. to debt ratio and greece obviously has a lot of problems with its structural reforms so it's not over yet. do talk about greece and italy we've been hearing a lot about the some of the banks in the europe especially in southern europe. not hearing much from them anymore as everything's safe now no not at all i mean we heard a lot from italian banks last year i mean one deposit the sienna and the toxic credits and essence in its balance sheets so this is still an outcome out of the financial crisis from two thousand and seven and two thousand and eight and it's not been solved in southern europe why has it not been s

our italy correspondent james reynolds reports from rome. these demonstrators have a simple message — we reject fascism. the fact that they feel compelled to say this more than seven decades after italy's fascist government fell says a lot about the atmosphere in this country right now. translation: our family has told us what it was like. the history of fascism still is to close to us. we can't remain indifferent in front of the new fascism of 2017 and 2018. translation: above all in this electoral campaign, hate is increasingly invading our society. and that hate has turned to violence. at the start of february, a far right campaigner drove through a central italian town, shooting at migrants from africa. the gunman entered his assaults by giving a fascist salute. italy's prime minister paolo gentiloni, here at anti—fascism rally, has said that hate and violence will not divide his country. —— presidente, this has been a dangerous and angry campaign. what is your response? he prefers not to answer. the increase in migration and the

of illegal migrants from africa for contributing to italy's economic woes. they see themselves as fascists, and in a scene reminiscent of world war ii, casapound supporters recently filled a rome street doing the fascist salute. ormone di stefano is the party's candidate for prime minister. he doesn't want to return to the irctatorship of benito mussolini but pushes the italy-first nationalism of that era. "during the years italy was poverned by fascism, it was a world power and took a leap airward economically," he said. alarmed by the rise of the far right, protesters have rallied against groups like casapound, which has seen its membership rise. this parliamentary press conference was a first. casapound is more commonly associated with activities like this: supporters in red vests kicking immigrant vendors off an italian beach. when you talk to a lot of italians about casapound, a lot of them say, "those are racist thugs." "it's simply because they don't sow us," di stefano said. casapound has already won some ascal elections, and for the first time has c

when you look at italy's political dislocation, frankly it is nothing new. away from that, italy is a very well-run country with a modest budget deficit. so when you look at the spread und, it goes a b lot tighter, and our target for that is 80 basis points. it sounds aggressive, but all that does is put the spread back to 2015 levels. it's better shape. jonathan: are you much more comfortable looking at the situation in europe, instead of corporate credit risks, do you much prefer to take the risk with the periphery with the likes of italy? nick: absolutely, you take the periphery risk and high-yield risk in europe. jonathan: thank you, you are all sticking with us. i want to get you a market check in with treasuries have been this week. twos, tens and 30's. we retrace some of movement of the previous week. yields are back up 12 basis points, relatively unmoved i -- relatively unmoved. 30 years is down by four to 3.12%. still ahead, it is the final spread on this program and the week ahead. minutes from the fed, the powell era begins in the central bank. th

from italy, james reynolds reports. one man, a young italian armed with a pistol, turned the italian city of macerata into a terrifying place. the gunman fired from his car at anyone who appeared to be a migrant from africa. there was no time for his targets to hide. i was passing by this morning to go and buy cigarettes. when they shot me on my leg this morning, you know. so the person inside the car was shooting, you know. during the attack, the authorities posted warnings instructing the city's residents to stay inside. the gunman was arrested when he got out of his car. he was draped in an italian flag. witnesses say that they saw him give a fascist salute. he is identified as 28—year—old luca graini. italian media reports he had been a candidate for the anti—immigrant northern league party in local elections held in 2017. this does not have any ad illogical motivation. criminals are criminals. the state will be severe to anyone who feeds a spiral of violence. this attack comes at a time of high anxiety in the

many people are looking at italy and spain as if they are credits. we had a viewer send in a question on the bloomberg terminal, try to understand why the spread is not widening here. why isn't it? jeffrey: well, you have a lot of distortion in the european fixed income markets because of the role of the ecb, and quantitative easing, and the persistence of quantitative easing, going back to doing whatever it takes. we haven't had a real credit market in europe ever since that time period. jonathan: yep. jeffrey: this is financial repression. financial repression is an explicit policy to hold everything together so you buy time to let the fiscal and political side try to work itself out. so the bond market signals are not real price signals. jonathan: nick gartside, you are in london. you are closer to the heart of all of this then we are. the spread between bunds and bdp. i think it was 12 months ago today we talked about where the spread would be going into an italian election. we have a very different view of things. why are we so much more comfort

while the incident has fuelled concerns about the rise of neo fascist sentiments in italy national as well as foreign media have been weighing in the shooter's lawyer told journalists that his client was greeted as a hero in prison police say racial and religious violence has soared in recent years we can show you the disturbing numbers from the italian police force hate crimes have jumped more than ten fold in just four years the issue is raising concern at the highest level with italy's justice minister revealing he was threatened when he visited the match year after shooting victims in hospital. i received threats against me and my family but i was the first is to go away when the time comes to take action so i. mean while a video has appeared in the media showing the mattered are to shooter shaking hands with the leader of the right wing leader know what more is that the shooter stood as a candidate for the party at local elections last year we invited a little note councillor to debate the issue. if this guy did what he did he became a creaminess so we. are very strict about it a

theet us now turn to upcoming elections in italy. economy in italy is playing an outside role. reporter: the prime minister who -- the former prime minister, silvio berlusconi held a rally on friday calling for a flat tax on italian companies. he is forbidden from holding office again after a 2013 fiscal fraud conviction. economic state for italy in this report with our correspondent. therter: promising to solve country's economic woes at a campaign rally, italy's former prime minister outlined a center-right coalition plan for a flat tax of 23% for individuals and firms. >> just one flat tax, lowell bailey than the other taxes we have had before, and which is the same for families and companies. our formula means less taxes on families, on companies and on jobs. this will put more money in families's pockets and also produce more jobs. reporter: italy currently has some of the highest taxes in europe. strong rolebecome a player in the accompanying where the economy is a strong issue. the italian economy is actually compared toape as the last general election in 2013. yet, it r

in italy this election season, populism rather than policy is the undisputed vote winner. italians flock to those who say they are listening to their frustrations with the status quo. matteo salvini leads the hard right anti—immigration league party. it's almost more popstar than politician. all of matteo salvini's supporters hoping he can make it to prime minister with his slogan, italy first. "what do you say to those who call you a racist populist?", i asked. translation: i don't respond to insults, but i'm proud to be a populist if it means being amongst people, solving their problems. immigration is seen as a big problem here. around 700,000 mainly african migrants arrived here by boat over the past few years. many asylum claims are rejected. people go underground. the police said we needed an escort to visit these illegally occupied buildings in turin. we clearly weren't welcome. recent attacks by migrants and against migrants in italy, plus widespread pre—election anti—immigration rhetoric, have stoked tensions here. the mayor of turin is from another populist

nick: when you look at levels of support in a country like italy, one reason is italy itself has healed very much in terms of the economic profile. we know the result of the italian election, when you look at italy's political dislocation,. it is nothing new. . is a very well-run country with a budget deficit, so when you look at that spread, it goes a lot tighter, and our target for that is 80 basis points. it sounds aggressive, but all that does is put the spread back to 2015 levels. morehan: are you much comfortable looking at the situation in europe, do you much prefer to take the risk with the periphery with the likes of italy? absolutely, you take the periphery risk. next, jeff, and kathleen, stick with us. two, tents, and 30's, yields are back up 12 basis points, relatively unmoved i need 10 year yield, although we did see a 10 year high. still ahead, it is the final spread on this program and the week ahead. the powell era begins in the central bank. this is "real yield". ♪ jonathan: this is bloomberg "real yield" and it is time for breaking news, the special counsel robert mi

unstoppable ireland run away with victory against italy, good evening. welcome to sportsday — plenty on the way but we'll start in south korea where day 2 of the winter olympics has provided who put on a stellar show to reach the quarter final 324,7zzg;mar:rzfifi 1.1575}. . 7 . ”7” but actually it was fine. but then i was so excited and i'mjust glad i got to race in front of everyone again. although british hopes in the snowboarding came crashing down. jamie nicholls and team mate billy morgan both tumbling out of the slopestyle event. the women's cross country skiing meanwhile produced the first gold medallist of the games, victory for charlotte kalla from sweden. a first gold medal for the hosts brought the loudest cheer, there's skater sparking euphoria as south korea celebrated its own olympic champion. but for team gb this was an opening day of mixed fortunes, disappointment on the snow but elise christie's hopes of gold off to the perfect start. andy swiss, bbc news, pyeongchang. he looks cold! full coverage of the games across the bbc, the

from italy, james reynolds reports. one man, a young italian armed with a pistol, turned the italian city of macerata into a terrifying place. the gunman fired from his car at anyone who appeared to be a migrant from africa. there was no time for his targets to hide. i was passing by this morning to go and buy cigarettes. when they shot me on my leg this morning, you know. so the person inside the car was shooting, you know? idid not i did not see his face, you smoke. —— yeah. during the attack, the authorities posted warnings instructing the city's residents to stay inside. the gunman was arrested when he got out of his car. he was draped in an italian flag. witnesses say that they saw him give a fascist salute. he is identified as 28—year—old luca traini. the italian media reports he had been a candidate forthe anti—immigrant northern league party in local elections held in 2017. translation: heinous crimes will be punished. criminal behaviour does not have any ideological motivation. criminals are criminals

by recalling smith thank you italy bringing appreciate you joining. us. couldn't and it's simple this already reasons for me to see you to see you doing well and i hope that you come back and manage in england some guy can have a great success in your career thank you thank you very much i should stress this or. i see patrick vieira is going into coaching. will we see you as the be the manager the midst of the one time i would love to see us as a world class culture long sought the likes of z's we were approaching here or is that something you're passionate about coaching me i don't know this man and. if into the play shocked me when i always finish a. i decide i will decide in my freezer but for the moment i think not and i got to like lots to be joined by david for it every time i know how trick fifty i goals mary and i see seven games with less than a year a wife will cook in russia if you haven't retired you've got to be putting yourself back in for the selection of. i mean it's seems as least great if you do have a go as to yes i know they don't call