this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." i want to go to the auction block where $274 billion were auctioned this week alone in treasuries. the highest yield since 2010. over incorporates, the focus on junk bonds. netflix had a high-yield market selling $1.9 billion in its largest ever offering. that was up from $1.5 billion. the real headliner, selling $702 million in bonds in its first ever offering backed by softbank. the yield 7.8%. bonnie, i want to begin with you. is this why the credit agencies struggle so much with this issue? it was rated bb-. they did not know what to do with this. why not? >> it is always difficult when you have issuers were negative cash flow, and have projections for growth and cash flow going forward. and so, in addition to that, we have a disruptive business model that is different from what is traditionally seen in the market. rating agencies had difficulty digging into that. this market like any market, you have to do your homework to understand the credits, a

jonathan: from new york city, i'm jonathan ferro. this is "bloomberg real yield." coming up, inflation building. labor costs accelerating. price pressures finally getting back to the fed's target. still very much in demand. wework and netflix upsizing their bond offerings. a surge in the dollar, a consensus trade. cracks appear in e.m. we begin with the big issue, 10 year yields getting back to 3%. >> i think the 3% threshold is enough to get people's attention. but by itself, i don't think it's necessarily a bad sign. >> i think it is more psychological than anything else. >> it's all about pace and path. we think the path is higher, but it will be a slow pace, and we can probably get up to the 3.25% level. it will be hard to break that and stay above that. >> we have been saying we expect 3.5%, but the market is coming to that expectation. it is a measured reasonable pace, and the reasoning is because of growth, it does not mean a debacle. >> if the u.s. 10 year yield goes into the high threes, it will act as a drag on the economy and bring forward a recession. >

jonathan: jim? jim: i think there are opportunities to get high quality carry or get some income on the front end of the curve. we do like the bank loan market. the more floating-rate instruments that you can buy at this time, there are opportunities that you can buy credit instruments globally and hedge back the dollar. you can get a pretty nice carry associated with that. at a period of time when you are seeing a lot of volatility, and certainly are seeing a regime shift in regards where the markets are going and where policy is going. right now, on the front end of the market, with the back-off, you can get a decent income play on the front-end. jonathan: you said the same thing wouldn't you, greg? greg: totally agree. there is an opportunity there. i am not sure you will get a lot of love out of it over the near-term, but there is real opportunity. they do have this pull to maturity. jim: if you look at the rally this year, and certainly in january, if you look at the aggregate levels of risk, w

jonathan: from new york city, for bloomberg worldwide, i'm jonathan ferro. with 30 minutes dedicated to fixed income, this is "bloomberg real yield." ♪ jonathan: coming up, inflation building. labor costs accelerating. price pressures finally getting back to the fed's target. junk debt supply still very much in demand. netflix is upsizing their bond offerings. a resurgent dollar, a consensus trade. cracks appear in a.m.. 10-year yields getting back to 3%. >> i think the 3% threshold is enough to get peoples attention. by itself, it is not a bad sign. >> i think it is more psychological than anything else. >> we think the path is higher, but it will be a slow pace, and we can probably get up to the 3.25% level. it is going to be hard to break that stay above that. >> we have been saying we expect 3.5%, and the market is coming to that expectation. if it is a measured reasonable pace, and the reasoning is because of growth, it does not mean a debacle. >> if the u.s. 10-year yield goes into the high threes, it will act as a drag on the economy and bring forwa

♪ jonathan: this is "bloomberg real yield." ♪ jonathan: coming up, inflation building. price pressures finally getting back to the fed's target. netflix is upsizing their bond offerings. a surge in the dollar, a consensus trade. we begin with the big issue, 10 year yields getting back to 3%. >> i think the 3% threshold is enough to get peoples attention. by itself, it is not a bad sign. >> i think it is more psychological than anything else. >> we think the path is higher, but it will be a slow pace, and we can probably get up to the 3.25% level. >> we have been saying we expect 3.5%, but the market is coming to that expectation. it is a measured reasonable pace, and the reasoning is because of growth, it does not mean a debacle. >> if the u.s. 10 year yield goes into the high threes, it will act as a drag on the economy and bring forward a recession. >> the bond market has not been deleting the federal reserve. if the fed says they will raise two more times, to be three in 2019, the 10 year treasury would not be at the 3% they are pricing in. the short set the big stor

jonathan: from new york city and our viewers worldwide, i'm jonathan ferro, and this is bloomberg "real yield". ♪ jonathan: coming up, payrolls delivering a big miss but wages come in and line. the president fighting back, and the administration considering tariffs on another $100 billion of chinese goods. risk appetite taking a hit. junk credit looks fairly -- relatively resilient. we begin with the big issue, the payrolls report. >> this is what we should expect going forward. >> this is a weak type of report. >> the weather was a big influence this month. >> i think there is a game of fedken it on between the and the markets. >> this makes for a cautious fed. especially in light of the global trade situation. >> the markets will respond to this report because it is a big miss and suggests we are starting to hit some limits in the labor market and that will be a constraint on growth and push-up wages. i think there will be a reaction to this report. but it is the kind of report we should look at going forward. >> i think it leaves the fed in the same place. they will keep moving but

jonathan: from new york city i'm jonathan ferro, and this is bloomberg "real yield". ♪ jonathan: coming up, payrolls delivering a big miss but wages are in line. the president fighting back, and the administration considering tariffs on another $100 billion of chinese goods. credit looks fairly resilient. we begin with the big issue, the payrolls report. >> this is what we should expect going forward. >> this is a weak type of report. >> the weather was a big influence. >> i think there is a game of chicken going on with the fed and markets. >> this makes for a cautious fed. especially in light of the global trade situation. >> the markets will respond to this report because it is a big miss and suggests we are starting to hit some limits in the labor market and that will constrain growth and push up wages. i think there will be a reaction to this report. but it is the kind of report we should look at going forward. >> i think it leaves the fed in the same place. they will keep moving but they are not in any race and it will not rush it. >> nothing has changed there, what has changed is

jonathan: from new york city , to our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield." ♪ jonathan: coming up, investors exhausted from political narratives, from the trade war fears to geopolitical concerns. one thing washington can guarantee -- more debt. the cbo forecasts $1 trillion deficits are around the corner. the u.s. needs foreign investors to step up. this week's auction suggests they are taking on the -- sitting on the sidelines. we begin with a big issue, geopolitical risk. the market is concerned. >> it is a tough question. it is trying to protect unstable politics. >> the middle east has more faultlines than any other geopolitical part of the world you can think of. >> top of the list is trade and geopolitical. >> we are dazed and confused by the tweet storm, by the geo policy rhetoric. >> the middle east has moved way beyond what we think of it. it is humpty dumpty time. we are not going to bring back the old middle east, the old syria, the old libya, the old yemen. the middle east is seriously broken. >>

♪ jonathan: this is "bloomberg real yield." ♪ jonathan: coming up, inflation building. price pressures finally getting back to the fred's target. -- back to the feds target. is upsizing their bond offerings. a surge in the dollar, a consensus trade. with the big issue, 10 year yields getting back to 3%. >> i think the 3% threshold is enough to get peoples attention. by itself, it is not a bad sign. >> i think it is more psychological than anything else. >> we think the path is higher, but it will be a slow pace, and we can probably get up to the 3.25% level. >> we have been saying we expect --%, but the market is the is coming to that expectation. it is a measured reasonable pace, and the reasoning is because of growth, it does not mean a debacle. year yield.s. 10 goes into the high threes, it will act as a drag on the economy and bring forward a recession. >> the bond market has not been deleting the federal reserve. if the fed says they will raise two more times, to be three in 2019, the 10 year treasury would they are the 3% pricing in. the short set the big story. j

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, inflation building. price pressures finally getting back toward the feds target. upsizing bond offerings this week. a resurgent dollar. tracks appear in em. 10 year yield getting back to 3%. >> i think the 3% threshold is enough to get people's attention. by itself, i don't think it is necessarily a bad sign. >> i think it is more psychological than anything else. >> it is all about case and have. -- about pace and path. we think we can get up to the 3.25% level. it will be hard to break and stay above that this year. >> we have been consistently saying we expect 3.5% before 2.5%. is it is a measured reasonable pace, and if the reasoning is because of growth, it doesn't mean a debacle. >> if the u.s. 10 year yield gets into the high threes, that is when it acts as a drag on the economy and brings it into recession. >> if the fed says they are going to raise at least two or three more times, two 2019, the 10 year

jonathan: from new york city for our viewers worldwide, i am jonathan ferro, with 30 minutes dedicated to fixed income. this is "bloomberg: real yield." ♪ jonathan: coming up, inflation building. gettingessures finally back to fed targets. and netflix upsizing their bond offerings this week. and a consensus trade in e.m. the big issue of 10 year yield getting back to 3%. enough toeshold is give -- get people's attention, but i don't think it is a bad sign by itself. >> it is more psychological than anything else. >> we think the path is higher, but it will be a slow pace, and could probably get up to that 3.25% level. >> we have been saying we expect a halffore two and percent, but the market is coming to that expectation. buts at a reasonable pace, if the reasoning is because of growth, it doesn't mean a debacle. this could bring forward the eventual recession. that is my main fear about higher rates. if the fed says they are going to raise two more times to treasury would not tell you at 3% they are pricing that in. the short side of the curve is the big story. jonathan: around the

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". jonathan: coming up, payrolls delivering a big miss, but wages coming in line. the fed's slow and steady model. the president fighting back in the battle of the proposals. the administration considering tariffs on another $100 billion of chinese goods. and risk appetite taking a hit. but the pain isolates the stocks. junk credit looks relatively resilient. we begin with the big issue, the drama free payrolls report. >> this is what we should expect going forward. >> this is a weakish type of report. >> the weather was a big influence this month. >> i think there is a game of chicken going on between the fed and the markets. >> i think this makes for a cautious fed, especially in light of the global trade situation. >> the markets will respond to this report because it was such a big miss and suggests we are starting to hit some limits in the labor market and that will be a constraint on growth and push up wages. i think there will be a

jonathan: weworks or tesla? of a similar maturity. >> i'm going to pass. >> can we go to other tech the companies? >> i would say wework. jonathan: it tells you about the sector right now. ine about the high yield anythingt class than else. great to have you with me. thank you. from new york, that is it for us. we will see you next friday. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> show me the money. big profits from big oil are not enough and investors need big dividends. the french president thinks trump will exit the existing iranian agreement. how chevron uses technology to break even and recover mor

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, investors exhausted from political narratives, from the trade war fears to geopolitical concerns. one thing washington can guarantee, more debt, the cbo forecasts $1 trillion deficits are around the corner. the u.s. needs foreign investors to step up. this week's auction suggests they are taking on the sidelines. we begin with a big issue, geopolitical concern. >> it is a tough question. it is trying to protect unstable protective very unstable politics. >> the middle east has more faultlines than any other geopolitical part of the world you can think of. >> top of the list is trade and geopolitical. >> we are dazed and confused by the tweet storm, by the geo policy rhetoric. >> the middle east has moved way beyond what we think of it. it is humpty dumpty time. we are not going to bring back the old middle east, the old syria, the old libya, the old yemen. >> the middle east is seriously broken. not too far away

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, investors exhausted from political narratives, from the trade war fears to geopolitical concerns. one thing washington can guarantee -- more debt, the cbo forecasts $1 trillion deficits are around the corner. the u.s. needs foreign investors to step up. this week's auction suggests they are taking on the sidelines. geopolitical concern. >> it is a tough question. it is trying to protect unstable politics. >> the middle east has more faultlines than any other geopolitical part of the world you can think of. >> top of the list is trade and geopolitical. >> we are dazed and confused by the tweet storm, by the geo policy rhetoric. >> the middle east has moved way beyond what we think of it. it is humpty dumpty time. we are not going to bring back the old middle east, the old syria, the old libya, the old yemen. the middle east is seriously broken. not too far away from a tipping point. think about where positioning

jonathan: rachel? rachel we don't disagree, : although we think the more bullish case is possibly around the corner, that there is some technical and fundamental particularly the treasury asset class. you are seeing more issuance and the deficit moving up. the expectation is there will be more issuance. you have seen less buying. you have seen the balance sheet beginning to shrink. but we think that the man somewhat limited because people are a little bit concerned about u.s. political behavior at the moment. and so, if we are the cause of greater geopolitical uncertainty, they will hold off pretty more money back in the u.s. treasury market, but we do think the demand is going to be there. among other things, as inflation continues to move up it will , bring people back to the treasury market. so we expect this could be a , material moved in rates as the year goes on. jonathan: just to pick up something rachel said the cbo , saying we could reach a $1 trillion deficits. saying the assumptions are stil

. >> thank you, jonathan. great to be with you. >> i want to start with the images of kim jong-un stepping into south korea. the first time we have ever seen a north korean leader do that. how big was that moment? >> yeah, jonathan, i think it's a big deal. it's important. every step along the way matters. the objective remains the same. complete. comple complete, vary fiable, irreversible denuclearization. that's been the goal. president trump put economic pressure on the north koreans. and it appears to have given us this opening, this real opportunity for something that would the be transformative for the world if we could achieve it. >> let's look at the remarkable images of your meeting with kim jong-un. the two of you standing there, side by side. what was going through your mind at that moment? >> i was on a mission, jonathan. i had a mission to begin to lay the groundwork for president trump's meeting with kim jong-un. we wanted to make sure we understood that the north koreans, kim jong-un, was prepar

jonathan: jim? jim: i actually think -- there are opportunities to get high quality carry or ticket some income on the front end of the curve. we actually do like the bank loan market. there are more floating-rate instruments you can buy at this time. there are opportunities that you can buy, credit instruments globally, and hedge back the dollar. you can get a pretty nice carry associated with that. at a period of time when you are seeing a lot of volatility, you are certainly seeing a regime shift in regards where the markets are going and where policy is going. you know right now, on the front , end of the market, with the back-off, you can get a decent income play on the front-end. jonathan: you said the same thing? greg: totally agree. there is an opportunity there. i am not sure you will get a lot of love out of it over the near-term, but i think there is real opportunity. they do have this pull to maturity. jim: i think what you are also talking about if you look at the , rally this year, and

jonathan: i am jonathan ferro and this is "real yield." we head to the auction block and start in europe with volkswagen, the financial services unit posted the week's biggest bond offering in europe. here in the united states, salesforce made its first trip in the bond market in five years as it issued debt to finance and acquisition. a tenure security yielding 87.5 basis points more than treasuries. and elsewhere, mcdermott international offering of $3.56 billion in the leverage of high-yield bonds. the company is using the funds to back its takeover of chicago bridge and iron. with me around the table is bob miller, george resnick, and anupam damani. george, we started to see this, just on the margin in credit, where things used to have the initial talk and then tighten to execution go to the market and rally above heart. we are not seeing that play out so much when these new issues come to market. why? george: the market is becoming more saturated with what is going on. you are seeing late cycle behavior, especially in credit, where yo

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, investors exhausted from political narratives, from the trade war fears to geopolitical concerns. one thing washington can guarantee -- more debt, the cbo forecasts $1 trillion deficits are around the corner. the u.s. needs foreign investors to step up. n suggestss auctio they are taking on the sidelines. geopolitical concern. >> it is a tough question. it is trying to protect unstable politics. >> the middle east has more faultlines than any other geopolitical part of the world you can think of. >> top of the list is trade and geopolitical. confused byzed and the tweet storm, by the geo policy rhetoric. >> the middle east has moved way beyond what we think of it. it is humpty dumpty time. we are not going to bring back the old middle east, the old syria, the old libya, the old yemen. >> the middle east is seriously broken. not too far away from a tipping point. >> thing about where positioning is right now. the

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. yield.""bloomberg real ♪ up, trade warng fares to geopolitical concerns. one thing washington can guarantee is more debt. the u.s. needs a foreign investors to step up. we begin with a big issue. geopolitical risk, the new market concern. >> it is a tough question, trying to predict unstable politics. >> the middle east. >> at the top of the list is trade and geopolitical. dazed and confused by the trade, policy rhetoric, by geopolitics. has moved wayeast beyond what we think. we will not bring back the old middle east, the old syria, libya. the middle east is broken. away from a too far point where the escalation of tensions between countries can become significant. is a massive short in the 10-year space. catalyst can really set it off. jonathan: joining me now is craig bishop. made it in.r has matt from illinois is freund. great to have you. this quickk about switch from one narrative to another. why are we doing this? rachel: we entered the last couple of years with a very positive backd

jonathan: from new york city i'm jonathan ferro, and this is bloomberg "real yield". ♪ jonathan: coming up, payrolls the very a big mess, the job report. , andresident fighting back the administration considering tariffs on another 100 million dollars of chinese goods. and stock credit looks fairly resilient. we begin with the big issue, the payrolls report. >> this is what we should expect going forward. >> the weather was a big influence. >> i think there is a game of chicken going on with the fed and markets. >> this makes for a cautious fed. respond toet will this report because it is a big mess and suggests we are starting to hit some limits in the labor market, and dolby a constraint on growth and push-up wages. i think there will be a reaction to this report. is the kind of report we should look at going forward. >> the fed will keep moving but they are not in any race and it will not rush it. >> nothing has changed there, what has changed is the trade protectionism threats coming out of the white house. jonathan: joining me is bob miller, the portfolio manager, and manager of em

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, investors . the treasury yield curve is close to adverting. >> rates have gone up somewhat. it is totally normal that the yield curve gets flatter. >> i'm not too worried about the flattening we have seen. it is an amount of it. if it is inverted that is a different story.

very own jonathan prince. so let's take a look at what's coming up in the show. in sunday's action frankfurt were hoping to get back into the top four as they travel to bremen but mines needed vital points at the bottom when they host the plot. and will take a look back at that huge result from saturday when brilliant by and this month will be the most dismal dortmund of my guests in the studio will be breaking it all down . well frankfurt travelled to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat verda were unbeaten at home since october well had lost their last three games away from home and even the much jewel was in store. reitman's florian cofield has been working to emulate the kind of success nico kovach has had in frankfurt unlike the former croatia international though cosell builds his team around attack thomas delay he with a pinpoint cross does not kill use of it's. one nil to brain in the twenty eighth minute high quality goal in a high tempo game. in the second half frankfur

crane how are you jonathan raring to guard press i'm glad to hear that as well here's what's coming up. the bundesliga. will hit the low who hosted the show in a david versus goliath match up it's do or die time for close losing most likely means they're headed to the second division and our next stop is. out bird a side say from relegation they welcome the team that is it the obama's from my house where we're looking to snap their four game hold losing streak against the visitors who have their feet closer to the relegation fight. now when your goalkeeper calls the season a catastrophe it's safe to say it's too late to motivate team on cologne native a man between the posts summed up clone season that way and even added that he was relieved it's soon coming to an end shall cup believe it or not historically has a poor record against the billy goats however salta has a champions league spot right now but it's not guarantee they'll need a win against the league's worst to secure it or is cologne geared up for an upset . where there's life there's hope i'm still just about hanging on

his mother was dead. >> i said, come on, jonathan. we need to take a walk, and i told him and he immediately burst into tears and i cried. i cried like a baby and i wasn't ashamed. >> he remembers his distraught son's reaction but little else from those dark hours. were you sleeping? were you eating? >> drinking. >> you were drinking? >> i lost my wife, my son lost his mom. >> there was plenty of sympathy among family and friends to be sure for the man newly widowed with a small child to raise on his own. his wife had died in a freak accident, off a cliff of all places. how could that happen? and that's exactly what police who were there the night of jody's death wanted to know, too. >> right away i got a feeling that there was something definitely wrong. >> it nagged at rescuer michael cioffi. why was jody's purse on a ledge just feet below where her husband said she'd fallen? >> where is she? she should be ear or the pocketbook should be down with her and it wasn't fitting. >> another thought dawned on him. if jody had tumbled, why

we'll bring back jonathan allen and sean sullivan. jonathan, is it too naive to see these players become more effective amid the gun battle? >> i think they are seen as the wrong side of it. what laura ingraham did was publicly attack the survivor of a politicaled shooing. -- political shooting. it doesn't take a political seens you to figure out how far on the wrong side of decency she is. she said during the holly week, she had a belated apology. >> turning to the interns here, in what strives to be a lack of diversity here in this photo. what do you saw? >> i think since the beginning of the trump administration there, there have been questions and criticisms raised about a lack of diversity overall in the administration. we don't know exactly the reason behind this, but as one of my colleagues pointed out in a recent posts, some of trump's most likes do frcome from him. >> and that photograph suggests a lack of diversity compared to the rest of the country. it's really startling and then you realize that a lot of players you can g

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is bloomberg "real yield". ♪ jonathan: coming up, investors . the treasury yield curve is close to adverting. >> rates have gone up somewhat. it is totally normal that the yield curve gets flatter. >> i'm not too worried about the flattening we have seen. it is an amount of it. if it is inverted that is a different story. >> certainly we are worried about the curve flattening. we do not see that in the near term. >> let's not get carried away, it is not unusual to see a flattening. the front end of the curve arises faster than the long end. >> the big message perhaps is stop freaking out. joining me at the table in new york is jack flaherty. plus, coming to us from london is ian steely. in, i want to start with you. when do we start to worry? i think it is an interesting one because what we typically do see as rates move higher is that the yield curve flattens. that is what history tells us. i think what we'll see is a few months where he hanged around is very

jonathan: i'm not sure. i'm not inside the french decision-making, but i think what we're seeing is more coordination between france and the united states than the previous incident a year ago, if you remember a similar chemical attacks by assad and t the u.s. responded alone after russian veto at the u.n. is the time, , there prospect at least a greater coordination between the u.s. and its allies, and mainly france, but others as well. to give a coordinated response that will ensure more follow-up and just a one-off tomahawk missile attack on an airbase in syria. genie: what were your thoughts on russia's proposal for its probe into this attack? suspected a chemical attack that , was that justx a threat to get the u.s. to back off of its spread of a strike -- threat of a strike? jonathan: i think it was an attempt to delay. russia and iran have dirty hands, they have been facilitating assad and there are no doubt these chemicals were used in this attack. it appears that it was more than just a chlorine gas

his mother was dead. >> i said, come on, jonathan. we need to take a walk. i told him and he immediately burst into tears and i cried like a baby. i wasn't ashamed. >> reporter: he remembers his distraught son's reaction, but little else from those dark hours. were you sleeping? were you eating? >> drinking. >> reporter: you were drinking. >> i'd lost my wife. my son lost his mom. >> reporter: there was plenty of sympathy among family and friends, to be sure, for the man newly widowed with a small child to raise on his own. his wife had died in a freak accident, off a cliff of all places. how could that happen? that's exactly what police who were there the night of jody's death wanted to know, too. >> right away, i got a feeling that there was something definitely wrong. >> reporter: it nagged at the rescuer. why was jody's purse on the ledge just feet below where her husband said she'd fallen. >> where is she? she should be here or part of her should be here. >> reporter: that's the first thing that came to you? >> either she should

jonathan: because we are highly regulated have to think heavily about data. we don't store anything that is too sensitive. data is important to give you a full financial plan. to bring a shoebox full of receipts and papers and headed over to your advisor to help them make a plan -- and we automated the process and made it painless and digital and seamless. carewe have to take great of that financial data to make sure it is used in your best interest. we never sell your data or rented to anyone also. nobody else has access to it, and we don't use any proprietary password. you have at specific passwords that no one else can use your data. emily: we will check in with you in a couple of years, if not sooner. coming up, who speak to a founder was swapping out the keg for nursing groups. that is next. this is bloomberg. ♪ emily: there are 20 cities shortlisted by amazon at second american headquarters, and at least one real estate fund is try to score the tech giant. diwali fund that manages less than $2 billion owns $10 million worth of shares in properties rea

this is bloomberg. ♪ jonathan: from new york city i'm jonathan ferro, and this is bloomberg "real yield". ♪ jonathan: coming up, payrolls the very a big mess, the job report. , andresident fighting back the administration considering tariffs on another 100 million dollars of chinese goods. and stock credit looks fairly resilient. we begin with the big issue, the payrolls report. >>

and jonathan swan join us now by phone. jonathan, before we get to the panel. you heard how we overviewed your reporting. what else do you have? >> so kelly has threatened to quit a number of times over the last eight months. he often says he doesn't have to be there and didn't seek the job originally but this was more heated than it has been. he blew up at the president in a meeting the same day the president fired shulkin, though i'm told the blowup wasn't related to the shulkin firing. i'm told it had something to do with immigration but i don't have any more detail than that. kelly packed up personal belongings. i'm told that wasn't necessarily because he was walking out but some colleagues were worried enough they got allies to calm him down. at one point homeland security secretary kirstjen nielsen, the person he trusts most, also i believe working with the white house on this pla issue came around again to try and talk him through the issue. but it just really reflects how tense things are at the moment, john kelly has been cut out of the loop on a lot o

at the -- >> jonathan, i'm sorry. jonathan, i'm sorry. i apologize. i'm going to have to run. >> can i ask you one more question before we head out of here? >> sure. >> i want to play something you said at the aspen forum in july. >> the north korean people, i'm sure, are lovely people and would love to see him go, as well. as you might know, they don't live a very good life there. >> that was in july. since then you have been to north korea. you have met directly with kim jong-un. do you still think that the people there in north korea would like to see him go? >> jonathan, what i said that evening, i still believe. the people of north korea live in very difficult conditions. believe that one of the reasons that kim jong-un is engaged in this conversation is that the pressure campaign that's been applied by president trump and by the world has put them in more tenuous, more difficult position. so i'm optimistic. we'll work hard to see if we can't find a solution so that the north korean people can in fact live a better life. >> our thanks to secretar

very own jonathan prince. so let's take a look at what's coming up in the show. and sunday's action frankford we're looking to get back into the top four as they travel to the brain and minds needed vital points at the bottom when they host the class. and we'll take a look back at that huge result from saturday when the brilliant by and this month did much these most dortmunder my guests in the studio will be breaking it all down . while frankfurt travel to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat verda were unbeaten at home since october while trucks had lost their last three games away from home and even the much jewel was in store. raymond's florian co felt has been working to emulate the kind of success nico kovac has had in frankfurt unlike the former croatia international though cosell builds his team around attack thomas de lady with a pinpoint cross just not to lose a ditch. one nil to brain in the twenty eighth minute a high quality goal you know high tempo game. in the seco

very down to jonathan credit. so let's take a look at what's coming up in the show. in sunday's action in frankfurt we're hoping to get back into the top four as they travel to braman what mines needed vital points at the bottom when they hosted class. and we'll take a look back of that huge result from saturday when the brilliant by and this monkey do much does most dortmunder my guests in the studio will be breaking it all down. well frankfurt travelled to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat verda were unbeaten at home since october while lost their last three games away from home and even the match tool was in store. raven's florian co felt has been working to emulate the kind of success nico kovach has had in frankfurt unlike the former croatia international though cosell builds his team around attack thomas delaney with a pinpoint cross just not too loose of it's. one nil to brain in the twenty eighth minute a high quality goal in a high tempo game. in the second half frankfurt

the very own jonathan prince. so let's take a look at what's coming up in the show. and sunday's action frankford we're looking to get back into the top four if they travel to the brain and what minds needed vital points at the bottom when they host the class. and we'll take a look back at that huge result from saturday when reviewed by and this month will devote much does most dortmund to my guests in the studio will be breaking it all down pretty. well frankfurt travel to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat there were unbeaten at home since october while trucks had lost their last three games away from home and even the much jewel was in store. craven's florian co felt has been working to emulate the kind of success nico kovach has had in frankfurt unlike the former croatia international though cosell builds his team around attack thomas delaney with a pinpoint cross just not to lose of its. one nil to brain in the twenty eighth minute a high quality goal you know high tempo game.

ruth marcus and jonathan capehart are still with us. ruth, i wanted to get your reflections on the passing of barbara bush. >> well, barbara bush was a formidable, as we all know, formidable woman. but also a gracious woman. we have an op-ed up on our site right now by a former bush speechwriter, mary kate carey, and it opened with an unusual line. the first time i met barbara bush, i was wearing her bathing suit, and it's a story about how she was summoned up to kennebunkport to help then former president bush write speeches, and he announced they were all going to take a dip, as bush would say, in the chilly ocean in june in kennebunkport. she said, well, mr. president, i don't have a bathing suit. and he said, no problem. he pulled out swim trunks of his own for the guys and barbara bush's bathing suit. she came out to the pool, saw barbara bush with some friends. you might think that barbara bush might be none too pleased to see this 20-something in her one piece skirted bathing suit, and mrs. bush just said, i'm so glad we found so

very own jonathan prince. so let's take a look at what's coming up in the show. and sunday's action frankford we're looking to get back into the top four as they travel to braman what mines needed vital points at the bottom when they host the club. and we'll take a look back at that huge result from saturday when brilliant by and this month do not dismal dortmund my guests in the studio will be breaking it all down for you. well frankfurt travel to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat there were unbeaten at home since october while lost their last three games away from home and even the much jewel was in store. raymond's florian cofield has been working to emulate the kind of success niko kovac has had frankfurters unlike the former croatia international though cosell builds his team around attack thomas delaney with a pinpoint cross just not to lose a bitch. one nil to brain in the twenty eighth minute was a high quality goal in a high tempo game. in the second half frankfurt st

his mother was dead. >> i said, come on, jonathan. we need to take a walk and i told him and he immediately burst into tears and i cried. i cried like a baby and i wasn't ashamed. >> reporter: he remembers his distraught son's reaction but little else from those dark hours. were you sleeping? were you eating? >> drinking. >> you were drinking? >> i lost my wife, my son lost hi mom. >> reporter: there was plenty of sympathy among family and friends to be sure for the man newly widowed with a small child to raise on his own. his wife had died in a freak accident, off a cliff of all places, how could that happen? and that's exactly what police who were there the night of jody's death wanted to know too. >> right away i got a feeling that there was something definitely wrong. >> reporter: it nagged at res e rescurescu rescuer michael cioffi. why was her purse on a ledge? >> where is she? she should be ear or the pocketbook should be down with her and it wasn't fitting. >> reporter: another thought dawned on him. if jody had tumbled, why h

in detail the use of the very own jonathan crane. so let's take a look at what's coming up in the show. and sunday's action frankford we're looking to get back into the top four as they travel to bremen what might be needed vital points at the bottom when they hosted class. and we'll take a look back at that huge result from saturday when the brigand buying this month to month dismal dortmund my guests in the studio will be breaking it all down for you . well frankfurt travel to bremen in search of three points that could push them into the champions league spots but it was going to be no easy feat verda were unbeaten at home since october. last their last three games away from home and even the much jewel was in store. raymond's florian cofield has been working to emulate the kind of success nico kovach has had in frankfurt unlike the former croatia international though cosell builds his team around attack thomas delaney with a pinpoint cross does not to use of its. one nil to brain in the twenty eighth minute a high quality goal in

craven how are you jonathan raring to guard press lead here that is well here what's coming up. and the bundesliga. will head to the low who hosted the show in a david versus goliath match up it's do or die time for cold losing most likely means they're headed to the second division and our next stop is. out her side say for relegation they welcome the team that is it the old fighters from my pals were looking to snap their four game home losing streak against the visitors who had their feet closer to the relegation fight. now when your goalkeeper calls the season a catastrophe it's safe to say it's too late to motivate t.-mo cologne native a man between the posts summed up clone season that way and even added that he was relieved it's soon coming to an end shall cut believe it or not historically has a poor record against the billy goats however salta has a champions league spot right now but it's not guaranteed they'll need a win against the league's worst to secure it or is cologne geared up for an upset . where there's life there's hope and cologne are still just about hangi

jonathan, you can react first. they made a mock newspaper front page in 2016, envisioning a day in the trump presidency. the headlines talking about the president wrapping up deportations, the market sinking as a trade war looms. are you surprised by how close to the truth that was that is, that pair rody two year s ago? >> no, we were saying this during the campaign. we were shouting as loud as we could that there would be a trade war and these deportations and the rest if they elected this clown as president of the united states. people cannot say they were not warned. >> charlie, the fact this mock front page, it's two years old, what does that say about where we are today in the trump presidency? >> as jonathan points out, donald trump is turning out to be who we thought he would be. donald trump ran very clearly -- he's a man who lied about a lot of things. exaggerated and hyped a lot of different positions. but he was clear that he wanted to spark a trade war. he was clear that he wanted to make deporting mex

craven how are you jonathan raring to go cracked i'm glad to hear that as well here's what's coming up on the bundesliga. bullheaded alone who hosted the show cook in a deep in versus goliath match up it's do or die time for cologne losing most likely means they're headed to the second division and our next stop is. outskirts a side say from relegation they welcome to team that isn't the obama's from my house where we're looking to snap their four game losing streak against the visitors who had their feet closer to the relegation fight. now when your goalkeeper calls the season a catastrophe it's safe to say it's too late to motivate t.-mo cologne native a man between the posts summed up clone season that way and even added that he was relieved it's soon coming to an in shul cup believe it or not historically has a poor record against the billy goats however salta has a champions league spot right now but it's not guaranteed they'll need a win against the league's worst to secure it or is cologne geared up for an upset . where there's life there's hope and cologne are still just abo

and we have got these very old winners they get expert jonathan craven how are your job a bit raring to go chris glad to hear that as well here what's coming up. oh in the bundesliga. well that's below who hosted a shelter in a david versus goliath match up it's do or die time for close losing most likely means they're headed to the second division and our next stop is. out burke a side say from relegation they welcome the team that is it the obama's from my house where we're looking to snap their four game hold losing streak against the visitors who had their feet closer to the relegation fight. now when your goalkeeper calls the season a catastrophe his safe to say it's too late to motivate t.-mo haw cologne native a man between the posts summed up clone season that way and even added that he was relieved it's soon coming to an end shall come believe it or not historically has a poor record against the billy goats however salta has a champions league spot right now but it's not guarantee they'll need a win against the league's worst to secure it or is cologne geared up for an upset

jonathan, residents have been on edge for quite some time. and now he is in police custody. >> reporter: yeah, they have indeed. this community of anticoh experienced a church shooting back in the fall. still reeling from that. now the shooting at the waffle house. clearly shocking everyone here. people breathing a collective sigh of relief that the suspect is in custody. metro national police department confirming that they arrested him in a wooded area near old hickory boulevard and hudson pike. we spoke with a witness who just happened to be driving by there. he said there is a relatively new apartment complex. he saw all of the squad cars pulling into that area and then pull that suspect out. metro nashville police department confirming that travis rineking, the suspect in the sunday morning waffle house shooting that claimed four lives and left an additional four people injured, is in custody. we expect to hear more from police in a news conference later today. but that's what we know for now, sandra. >> sandra: and that is significant.

>> jonathan hunt live for us in downtown los angeles. jonathan, thank you. breaking today, the democratic national committee has filed a lawsuit against the trump campaign, the russian government, and wikileaks, and goes after the president's son donald trump jr., his son-in-law, jared kushner, and others from the campaign. it accuses the defendants of conspiring to tilt the 2016 election toward donald trump. the dnc filed the suit today in federal court in new york. in a statement dnc chair tom perez said, quoting, during the 2016 presidential campaign russia launched an all-out assault on our democracy, and it found a willing and active partner in donald trump's campaign. president trump has repeatedly denied collusion with russia and last month republicans on a house panel concluded there was no collusion. fox news is reaching out to those named in the suit for their responses. in the meantime let's get to the chief white house correspondent john roberts live for us in west palm beach, florida. jane? >> trace, good afternoon to you. the mueller investigat