tom: this is critical. this is where you can really add value, the idea that i say equities, bonds, currencies, and commodities. there is that relationship between equities and bonds, and there was a suggestion that it was broken in the great distortion. are we in sync yet? abby: not yet. when we apply valuation models to fixed income, what weind is that despite the rising yields since the election, those yields are probably still too low. for example, on a fair value basis, we would expect the 10 year bond yield, which was 1.7 before the election, we expect that to march from roughly 2.4 in december, perhaps 2.7 in the coming months. so we have a ways to go for we -- before we get back to fair value on fixed income. let me point out, when we do the equity valuation work, we are not using the the unsustainably low interest rates. we are using yields that we expect will occur. tom: this is a critical point. you plug in what you think rates are going to do, and you don't use the clearly present distortion tha

tom: what happens from here. the sanctions, the last-minute 11th hour small potatoes sanctions, what do they do? >> it's another one of obama's gestures. he loves rhetorical flourishes and empty gestures. i'm glad for any signs towards russia. but this was strictly tactical stuff. sanctioning individuals. if you want to have a strategic effect, you go after russia's weak point which is the economy. the sanctions russia placed on russia have hurt badly in tandem with lower oil prices. prices. russia needs oil at $8 $ -- ata barrel to make their economy to work. putin wants a big military buildup, but i can't afford it. if we lift sanctions as a gesture of goodwill toward vladimir putin, he will build up his milita while continuing to use ours cynically. >> you are talking money and it's exactly right. that's what brought down the old soviet union. he needs the money to build his military. >> in the i am mortal words of cyndi lauper, money changes everything. tom: has president-elect trump publicly buried the hatch

this is bloomberg. ♪ tom: bloomberg surveillance. i'm tom keene. we're honored that you're with us worldwide. we went under intense negotiation, abbey, for me to do this special and i said, okay, we can do it but for one section of this special i've got to go with abbey juror solve collins. graham dodd, you took the net income statement down to the bottom and you looked at gap earnings, world has changed. >> where are we going to be one year from now or five years from now. >> fabulous question, but i want to broaden it out. number one, if we had had this conversation a decade ago we would have been talking about an accounting system in the united states that more closely paralleled the international accounting statements. that's not happening. number one. number two, we're also seeing from an investment analysis standpoint, that a lot of our work is getting a little bit muddled because of the use of cash. in 1999 and 2000, 70% of the cash for companies in the s&p 500 went back into the company for things involving growth, capital -- tom: how odd,

tom: tonight a diplomatic opening. russia decides not too retaliate -- not to retaliate after kicks out dozens of foreign spies. >> the russians have walked all over the obama administration for 8 years. i think it's intended to try to box the trump administration in. i think it will fail. tom: also a shock new report exposing the billions of dollars of cash and gold given to iran under obama's nuclear deal. we'll have the details. chicago closing out its deadliest year in nearly two decades. i'm tom sullivan in for lou dobbs. president obama's sanctions against russia turning out to be all bark and no bite. just a day after mr. obama announced he was expelling 35 diplomats, vladimir putin said he's not going to retaliate. kevin corke is in honolulu with our report. >> reporter: it was a scene that unfolded from coast to coast. from washington to san francisco. three dozen russian operatives working to leave the united states ahead of a deadline imposed by president obama. >> it's all together 11 people, including thre

tom: what happens from here. the sanctions, the last-minute 11th hour small potatoes sanctions, what do they do? >> it's another one of obama's gestures. he loves rhetorical flourishes and empty gestures. i'm glad for any signs towards russia. but this was strictly tactical stuff. sanctioning individuals. if you want to have a strategic effect, you go after russia's weak point which is the economy. the sanctions russia placed on russia have hurt badly in tandem with lower oil prices. prices. russia needs oil at $8 $ -- ata barrel to make their economy to work. putin wants a big military buildup, but i can't afford it. if we lift sanctions as a gesture of goodwill toward vladimir putin, he will build up his military while continuing to use ours cynically. >> you are talking money and it's exactly right. that's what brought down the old soviet union. he needs the money to build his military. >> in the i am mortal words of cyndi lauper, money changes everything. tom: has president-elect trump publicly buried the hat

tom hanks: general and mrs. grant will later recall the horseman who peered into their carriage twice on its way to the train station. the actor john mathews will be on stage that evening at ford's theater. the next day he will burn the letter. the signed confession given to him by john wilkes booth. abraham lincoln has less than 15 hours to live. ♪ ♪ get up to $2500 customer cash on select 2016 and 2017 models for these terms. see your lexus dealer. i have a big meeting when we land, but i'm so stuffed up, i can't rest. nyquil cold and flu liquid gels don't unstuff your nose. they don't? alka-seltzer plus night liquid gels fights your worst cold symptoms. plus, unstuffs your nose. oh, what a relief it is. test. test. test. test. test. test. you wouldn't believe what's in this kiester. a farmer's market. a fire truck. even a marching band. and if i can get comfortable talking about this kiester, then you can get comfortable using preparation h. for any sort of discomfort in yours. preparation h. get comforta

tom: we have 23 days left. but we'll see what happens, still a couple of weeks for mischief to say the least, tony and bree thank you. >> thank you. tom: vote in tonight's poll, are you relieved that we'll soon have a president who defends our allies and stands' for work class americans? cost your vote on twitter @lou dobbs. and follow lou on twitter. like the show on facebook. and instagram. breaking news, actress debbie reynolds, ma mother of carrie fisher has reportedly been rushed to a california hospital, after suffering a medical emergency, a couple hours ago. tmz reporting a possible stroke. but it has not been confirmed. she has been distraught since the death of her daughter yesterday. meantime, on wall street stocks falling after a two day winning streak, do you declining 111, and s&p down 19. and nasdaq coming off record yesterday, down 49 today. big board volume picking up a little bit 2.4 billion shares. >> a reminder listen to lou's reports three time a day coast-to-coast ons salem radio in. >> up

tom: i'm tom griffith. rob gronkowski is scheduled to undergo surgery for a herniated disk tomorrow. we are live with all the details. reporter: it seemed hopeful that rob gronkowski would make a quick return after leaving last week's game in the first quarter but now not so much. this is what happened on sunday against the jets. he ended up leaving the game after this catch. espn are saying that the patriot's tight end has a herniated disbe. disk. he's headed to los angeles tore back surgery tomorrow. he a took a big hit in the seattle game that resulted in a long injury. missed a game after that. not a smooth couple of weeks. he could be sidelined for two months which means he would miss the rest of the regular season. in the playoffs, maybe, that is a big maybe he could be back to play again this season. tom: to a developing story that we are following tonight. a former proctor academy student is accused of sexually assaulting another student. in a letter to parents they say the male student was led into

tom? tom: thank you, kevin corke. joining me now fred barnes, and fred, does this, almost over 40 years we have said veto, veto, veto, veto. all of a sudden the big change does this give president obama the legacy of being the most anti-israeli president, maybe more than jimmy carter? >> he's earned, it much more than jimmy carter. it's gradually grown, his distaste for israel. this caps it, this change in the vote, of course, that's going to change when donald trump comes in because he's doing the opposite. trump i think is right on this issue. the settlements are not the cause, they're not blocking any sort of agreement between israel and then the palestinians, they're not the problem. most of these settlements would stay a part of israel if there were an agreement, but the palestinians just will not come to an agreement, and the settlements are not the problem. tom: yeah, but i guess the silver lining around this story is that the u.n. needs a pair of dentures, i don't think they have any teeth. [ laughter ] >> ser

this is bloomberg francine, tom? tom: taylor, thank you so much. equities, bonds, currencies, commodities. futures down after two days. steven wieting in our next hour with citibank to give us market perspective. i noticed crude oil with a bid, a barrel.il, $51.18 there is the dow, yesterday i mentioned, 20,000 for the first time ever on air. 30-year bond at 3.13% gets my attention. the 10-year bond in japan higher as well, francine. oilcine: i want to show you rising for the second day, opec and non-opec meeting in vienna. european stocks climbed a touch, not great, but a little bit. bonds and the korean won declined. this is my snapshot with euro-dollar, $1.0626. i stumbled in today looking at the university of michigan expectations forward. this is the confidence of you forward. ago, the reagan morning in america, that green box and the average through the reagan administration, the average through the obama administration overthrew the terrific -- over to the right, but the terrific recovery, expectations are back to the reagan average. i did n

tom. >> thank you so much kevin cork, growing fallout over a united nation regular declaring israeli settlement illegal, secretary of state john kerry to address middle east peace process tomorrow, his speech as israel accused the obama administration of oh, spritinorchestrating the vote. >> we have iron glad information from sources in arab world, and initially that it was a dib wit deliberate push by u.s., and they helped to create resolution in the first place. >> israel already is reducing ties with country who supported anti-israely regular that netanyahu called a shameful ambush. president-elect trump slamming the united nations over the vote, tweeting, the united nations has such great potential but right now, it just a club for people to gettinto get together, talk and have a good time be so sad. about a quarter of u.n. budget, 3 billion dollars comes from the u.s. annually. >> joining me now, former u.s. ambassador to united nations, and senior fellow john bolton. what is your rea

tom: severe weather across the south tonight. coming up on news 9 tonight why officials say massive wildfires are becoming even harder to fight even though some rain has fallen. plus, an act of kindness by a cashier leads to even more generosity. what she did for a little girl that was a few dollars short at the register. mike: it will be a mild start to december tomorrow as temperatures jump well above normal. how warm it gets, plus when it starts to go back down. shelley: and you are you local hot shot. here is an adorable shot of a dog named d.x. dress up like santa claus. so cute. you can submit your pictures and video, and join the thousands of ulocal members, by logging onto weather and wildfires sliming the south. the death toll is on the rise. shelley: tornadoes in alabama killed five people and injured at least a dozen more. the storms tore through just as firefighters began to get wildfires under control in seven people and have damaged or wiped out homes and more than 700 businesses. officials say rain has helped with

tom: we will come back. on radio, i mentioned this earlier, later today, john taylor of stanford university. taylor on his rule. rules of discretion. this is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for s

tom: absolutely. tom?ine: tom: looks like we have got some technical difficulties right now. isn't that aitaly, miracle have we have done that? antonio garcia pascual at barclays joins us from the barclays shop in london. i look at all that has gone on .n the last number of days what is the contagion of italy to portugal, greece, and turkey? antonio: i think you should think in terms of contagion of the european periphery. any look at the spreads between italy and spain, that spread has not really moved much and that shows a little bit how any kind of worries or problems that could be in italy could spread to the periphery. tom: i believe there is a modest meeting in frankfurt on thursday. how will mario draghi react? election, renzi is out but not out. how will mr. draghi react? will it be a question of not saying something at his press conference or will he be more? antonio: i think the latter. quite a lot of political risk events going france,in italy, positions from brexit on the supreme court. all of these issues probably will conform desk and found the suv -- the ecb. i

tom: show us. francine: this is a euro area inflation headline. 2%,ecb is targeting around that is the blue line. this is euro area inflation currently at 0.6. it is bumbling along but nowhere near that 2% you would i had to chart italy it would be at -0.5%. italy would be here and you could see the euro aggregate. it is a catch-22. tom: it is, which was a great book and movie. francine: it is widely anticipated the ecb president will extend asset purchases. matt miller joins us from frankfurt. what we are expecting hopefully is that the markets want some sort of open qe plan to see when he is ready. matt: the market i think is expecting six months, 80 billion euros a month. a lot of people are talking .bout a skinnier, longer qe the possibility that he says maybe 60 billion euros a month for more than half a year. i think the important part from all the investors i have spoken to and economists, i have spoken to a number of chief economist this morning, all of whom say the important thing is going

tom: we have 23 days left. but we'll see what happens, still a couple of weeks for mischief to say the least, tony and bree thank you. >> thank you. tom: vote in tonight's poll, are you relieved that we'll soon have a president who defends our allies and stands' for work class americans? cost your vote on twitter @lou dobbs. and follow lou on twitter. like the show on facebook. and instagram. breaking news, actress debbie reynolds, ma mher ofarrie fisher has reportedly been rushed to a california hospital, after suffering a medical emergency, a couple hours ago. tmz reporting a possible stroke. but it has not been confirmed. she has been distraught since the death of her daughter yesterday. meantime, on wall street stocks falling after a two day winning streak, do you declining 111, and s&p down 19. and nasdaq coming off record yesterday, down 49 today. big board volume picking up a little bit 2.4 billion shares. >> a reminder listen to lou's reports three time a day coast-to-coast ons salem radio in. >> up nex

tom: exactly. learn, here -- we all it's precisely that, what you don't own. >> and you also have to look at the asset classes. i think that's important as well. tom: where are you on large cap, small cap? are only going to own 18 you can't afford the volatility of a small-cap portfolio. they are very, multinational, with the all trade in the united states. guy: how was your reaction to the massive increase in passive money? well, that is part of the reason we stick with a small number of stocking states undiversified. is that theor that closer you get to homogenous market like funds, in order to justify are considerably higher than passive management, we need to outperform the market by a lot. you can't do that if you oh 200 or 300 stocks. fewer, diversified stocks. we will continue this discussion with rbc capital markets. york, this, from new is bloomberg. ♪ morning, everyone pretty guy johnson in london, in for francine. i'm tom keene, in new york. let's get to first word news with sebastian

tom: as mr. khan stem makes a shift in rates, will it be done with stability, or the instability that dominique is worried at -- is worried about? dominic has in moving up into the threes in the following year. there are some uncertainties, lots of risks that could unset things -- that could upset things. our view is that it will be sustained. -- howter, does that high does europe go, and does the ecb need to lean in on that? what does it mean for the mechanics across the atlantic? peter: there has to be some , no question.s at the same time, the dollar will be rising. that will offset some of that. certainly, you have had, despite the run-up in yields here, despite the rise in the dollar overall, financial conditions have not changed that much in the u.s. i expect a similar outcome in europe. guy: i am curious. there has to be some effect from , but currencies have to offset that. where does the dollar, the euro need to go for that to happen? peter: we see euro-dollar going to parity over the ne

tom. >> thank you so much kevin cork, growing fallout over a united nation regular declaring israeli settlement illegal, secretary of state john kerry to address middle east peace process tomorrow, his speech as israel accused the obama administration of oh, spritinorchestrating the vote. >> we have iron glad information from sources in arab world, and initially that it was a dib wit deliberate push by u.s., and they helped to create resolution in the first place. >> israel already is reducing ties with country who supported antisraely regular that netanyahu cled a shameful ambush. president-elect trump slamming the united nations over the vote, tweeting, the united nations has such great potential but right now, it just a club for people to gettinto get together, talk and have a good time be so sad. about a quarter of u.n. budget, 3 billion dollars comes from the u.s. annually. >> joining me now, former u.s. ambassador to united nations, and senior fellow john bolton. what is your reactio

tom: one final question. help me with the linkage within the german quest -- german press of this tragedy and migration. that seems to be the sensitive scene. give us this december moment of the migration debate within germany before this event and now after this event. debatee was a large because of the problems that corrupted in cologne on new year's eve and the day after cd useout whether the policy, open-door policy to refugees was a good one. ,he right-wing populist party the fraternity for deutsche land, had grabbed the press won state and has elections but they haven't won any federal elections. they are taking advantage of this to fight against the cdu but they are not a political threat federally yet. guy: matt miller on the scene of last night attack. thank you very much. for more analysis, let's bring , with uss lichfield here on set in london. will the german people blame angela merkel? >> not a majority of them. her popularity levels are quite high, and obviously they will understand that this mi

tom: d.c. nominal gdp better youth for next year -- do see nominal gdp of better growth for next year? ways in you look for which a number could be wrong, it is probably more likely to be stronger rather than weaker, in part because the economy is ending 2016 on an accelerated note. tom: abby joseph cohen with us. really, really pleased you are with us. we have so many topics we have spoken on through this hour. importantend on things from last year. as we move to the inauguration on to a new 2017, abby joseph cohen, her optimism on america. american exceptionalism. this is bloomberg. ♪ ♪ tom: "brilliant surveillance" our year-end special. we knew this would be a joy with abby joseph cohen. she is with goldman sachs, a senior investment strategist. ok, this is great, we will talk about investments. i want to talk to abby joseph cohen about where this nation is going, and about the world economy as well. abby joseph cohen on american exceptionalism. book last year, we did it in the 20th cent

tom: yes. but my point is if you look at this campaign, look at 2016, i don't think -- people don't understand that hillary actually does care. it didn't come across. she was portrayed as very much an insider, a policy wonk, not somebody who has a heart that, you know, you were asking about joe biden, who obviously is somebody who emotes, and i think that -- charlie: especially with working-class people. tom: yes. charlie: were you surprised to see al gore go to trump tower? what's that about? tom: you know, it's -- i know that al is incredibly sincere on climate and i think that he will go to the ends of the earth to try and make a difference, and i think he went to the ends of the earth to try and make a difference. [laughter] charlie: and do you think it might help? tom: look, i think what we're seeing, you know, from the trump administration, the president-elect, is a lot of conversations and a lot of tweets, but there are some facts out there. he is appointing people. he is relying on peop

tom keene in new york. let's get you a bloomberg business flash. sebastian: an embarrassing blow to alibaba's credibility in the u.s., it has been labeled a haven for knockoffs by the federal government. back on the list of so-called notorious markets, meaning they have an unacceptably high level of counterfeiting and piracy. alibaba is disappointed in the decision. the measure of private sector growth in the u.k. has climbed to its highest level in a year. flying in the face of concerns about brexit, the index was helped by a strong performance in manufacturing, the best in more than two years, but retail activity slowed slightly. actelion has announced new exclusive talks with johnson & johnson about a possible new exclusive talks with johnson & johnson about a possible takeover. johnson & johnson said they had ended negotiations but the latest development is a blow to the french pharmacy. that is the bloomberg business flash. guy: thank you very much. lenderuggling italian monte dei paschi will probably

tom: this is true. i will give you that. stephen: thank you, tom. once the emergency that led to the creation of qe, balance sheet expansion, zero, slashing negative interest rates -- once the emergency is over, what is the trajectory of going back to a more normal monetary policy to set us up to deal with more normal economic conditions? he is raising a number of issues that need to be addressed in answering that critical question. tom: here is the chart. this is the asset sheet, the balance sheet. in white, the fed. in blue, the ecb. in red, japan as a percentage of gdp. if we stick with europe and the fed, do you presume there will be a point that they act within a regime change, or do they let it fester and run on forever? stephen: if they do, they run the risk of financial instability. look at the red line, for example. doubled-- they have as a tripled down on qe share of gdp, and yet the growth rate has gone the other way. it has been weaker post abenomics then it was pretty abenomics. -- then it was pre-abenomics. yen everyone focused on the

tom: thanks so much. quickly to data --equities, bonds, currencies, commodities. the curve flattening this morning. euro-dollar, 1.0444. the vix, 11.42 with dollar strength over the last 40 minutes. i'm watching sterling, at 1.2 253, weaker over the week. guy: let's talk about the european equity market. -- banks kindpe of not going anywhere today. we will talk about barclays in a moment. it is weakening. we were watching the press conference in moscow. surrounding the security situation that we are monitoring very carefully, tom. tom: normalized year to date, here is the beginning of january of last year in the upper left corner. deutsche bank doing good, recovering nicely from the gloom of autumn. up,'s unicredit with a leg partly trump, partly the italians beginning to clear market. it really shows a relative difference between the deutsche bank uproar and the very troubled monte dei paschi on this day of bailouts. guy: i want to talk a little bit about what is going on in terms of the stories surround

tom: and now, to our ulocal hotshot. the chocolate lab sitting back and relaxing by the old christmas tree. tom: -- was new say station program is already paying dividends. it only started two weeks ago but it has already helped 17 manchester where it has been successful. in nashua, they are seeing one person a day. to get an evaluation and be transferred to a recovery program. it is a 24 hour job, seven days a week. over 200 firefighters cover manchester. they have seen a dramatic spike in rescue calls because of the opioid crisis. shelley: fighting fires is a primary mission but calls for opioid in. we show you the compassion that manchester firefighters bring to the job. ? [sirens] amy: it is saturday night at manchester's busiest fire station. engine 11, police, and an ambulance racing towards overdose call is immense. locating the victim in a winding rooming building. firefighters are unarmed and often told to stage and wait for police backup. amy: she was terrified. a strange man, unconscious was in her car. chief

tom: let's send it closer to home. yesterday was the deadline for officially announcing running in the socialist primary. the press today is rather critical of the front runner in that race, none other than former prime minister manuel valls. take a look at the left-wing newspaper. political convictions are a farce, a joke. he is criticized saying that he wants to change the constitution, and in particular abolish an article that allows the government to bypass parliament to implement controversial reforms. liberation reminds us that he has used that twice in ñgñgñgññ1 announcer: 2007, and little samba kuli bali is on his way to make medical history. he's one of the first children to take part in a trial for a new vaccine against deadly meningitis. marie: many countrtries in sub saharan africa have called for these vaccines because of this dreadful and devastating disease which is called epidemic meningitis which was

tom: thanks so much. let's get to the data before we get to the professor on the markets we are seeing. equity futures take a po ause. nowhere near the parity dash. that is american oil. thanks to our commodities team for wonderful opec coverage. 30 year bond, 3.07%. two days in a row. what is a concern is everybody is telling me it is no big deal. francine: i don't know if it is a big deal or not, but something to keep an eye on because it goes to how donald trump funds it. treasuries are related to how much you can spend on infrastructure -- he can spend on infrastructure. markets starting the month uncertain. we had a pretty dramatic november. european stocks snapping today. crude because of opec. tom: thank you so much. nye the science guy will join us. kenneth is at harvard university. that bailey describes his a congressman's with economics and accomplishments with economics and policy. this is the most hated book on amazon. no question about that. it is a courageous book. we will get to this in the

tom: i see all of this. is there going to be a surprise to the fed meeting today echo this seems to be the ultimate fed meeting of our careers, where if you do something dramatic, now is the time with all the distractions in gideon rose's world. of it, half a point? ira: if the fed wants to go to 2%, why don't they just do it now and be done with it? but they will not do that. so moving incrementally, they will continue to hike. what will be interesting is what we get out of the statement. we will look at the summary of economic projections and listen to chair yellen at a press conference. she is clearly going to be asked about the president-elect, about how those changes in the white house are going to wind up impacting policy or impacting markets. it will be interesting to see what she says on that front. also beit will interesting to see what the president-elect -- how he reacts to what chair yellen does. known not to like things that displease him, and to not remain quiet about it. it will be interesting

tom: thank you. equities, bonds, currencies, commodities with foreign exchange at the center, the litmus test, futures continue to advance with 2/10 spread out 1.7 up to 132m a 127is off the fed meeting and the euro may be on the parity watch at 104.98 through 106.05 down to 104 with oil not part of the story. we do an extended foreign-exchange check later in the hour. is weak and philippines peso, i will get to at a moment at a 50 print early this morning with gold futures taking. dollar is the chief beneficiary of the federal reserve first interest rate hike in 2016. the euro-dollar interesting. steven saywell is expecting parity by the end of the year, and vix, aar, 104.94 lot of research notes of what we expect for 2017, the vix probably the place to be next year. to get yourou need bonus at the end of the year. the bonus round of a bloomberg chart, i could have used it team charts but i picked in the philippines because they went 20,000 in fordow exchange, the crisis of 1997 with weak philippine

[laughter] tom brokaw: and so i did. and it was such an instructive beginning for me as a political correspondent, because i saw the best run campaign i had ever seen up to that point, and maybe since. by the time the governor got ready to run for a second term, i knew my way around, so i went to the los angeles press club where he would make his announcement, and walked into the holding room early and took a seat in the far corner. but then i realized it was kind of reserved for reagan supporters and family and friends because they began to line the walls, including jimmy and gloria stuart. nancy came in and she was on autopilot as she made her way around that wall of friends and supporters, giving each a kiss, squeeze of the hand, and a word or two did it dawned on me that she was going to get to me. [laughter] tom brokaw: i am the outlier at that point, i'm a reporter from the press. she got to me and she leaned back and i quickly said, mrs. reagan, whatever it is i have, it is not catching. i can promise you that. [l

tom: now onto a developing story andover. news 9 has just learned a former student has been indicted on three counts of aggravated felonious sexual assault. jennifer: it involved another student and took blaze in the dorm in october of last year, that is according to the school. suzanne roantree has more from andover now. reporter: according to a health tere sent out by proctor academy it happened in october of 2015. >> the school has confirmed to wmur that the male student was he is charged with three counts of felonious sexual assault against a 16-year-old girl. in a letter sent to parents the school says it learned of the alleged incident in a dormitory shortly after it happened on october 25th, 2015, and "reported it in accordance with all state reporting guidelines." the boy left the school on the same day. proctor academy responded in an email to wmur stating "there is sexual or otherwise. we are saddened by the impact it has had on our community and the young woman's well-being is of kick concern." the letter says he e

tom: 1905? tois: the left ties -- tries paint this picture of robber capitalism, but these are technocratic bankers who are very familiar and it is fascinating that the golden contingent is willing to -- tom: other any other investment firms out there? chris: the goldman firm has been extremely astute at following the art of operations. they know how to combine access and information and personal relationships in a way that no other firm can. tom: i can see the love note coming in. we have to go to a commercial. we will come back with gary shilling, chris whalen. timing, what oppenheimer and company surging this morning -- with oppenheimer and company surging, this morning. ♪ tom: a stronger dollar and you can see that in the yen. canadian hydrocarbon currencies, canadian moving strong. francine: coming up, bloomberg daybreak america's with david westin and alix steel. guests, thepecial former senior official of the state department and white house will be here to talk about that impending app

tom. >> making sure those roads are clear. all right. adrienne, thank you. >>> now to the midair meltdown. what sparked the incident causing a delta flight to turn back. and with some 2 million air travelers packing flights every day through the new year holiday, many are praying to avoid scenes like this. here's abc's alex perez. >> reporter: tonight, the epic meltdown caught on tape. forcing a delta flight from minnepolis to los angeles to turn around just an hour into the flight. >> you're already going to jail. >> reporter: watch as one of the two rowdy passengers is tackled after appearing to hit someone in their seat. >> hey! >> reporter: the officers scramble to take them down. >> stay down! >> reporter: the fight reportedly erupting when christine koosmann tried to use the bathroom right after takeoff, and the flight attendant told her to sit down. >> now. >> reporter: the captain turning the plane around back to minneapolis. >> 2565, we do have the authorities called. they should be at the gate when you get there. >> all right,

tom: more confidence. brian: this is all about confidence from the consumer side but especially corporate america who -- as interest rates start to ship higher -- they are nowhere near normal it on a relative basis compared to history they are still very low. the impetus to go back and buy back stock begins to lessen and mr. to do different things with their cash including and most importantly we think i'm a day especially in certain sectors. tom: within the m&a is the idea of the new american international bank. our banks international and are they different international? brian: i think at the end of the day the regulations that have been forced upon the us-backed -- u.s. banks have overcorrected themselves. tom: swiss like almost? brian: that's a whole another connotation -- that is another connotation compared that. in terms of how they built their balance sheets, how they have begun to pay dividends, how they will manage business is going forward. a scalable business model of the big u.s. banks we thi

start off with tom. tom scully is a senior counsel at austin and byrd. his practice focuses on health care legislative matters. also a general partner with welsh, carson, anderson and stowe in new york city. tom was the administrator for cms from 2001 to 2004 and instrumental in the designing and passing medicare reform and medicare part d legislation. one of his achievements at cms in addition to the implementation of the part d drug benefit was initiating the first public reporting and disclosures of comparative quality among hospitals, nursing homes, home health agencies homes, health health agencies and dialysis centers. before joining cns, he served as the president and ceo of the federation of american hospitals which, of course represents 1700 or so privately owned hospitals in the united states, the members of the federation do. next is leslie norwalk. leslie can you remember is a strategic council to epstein becker and green, ebc advisors and national health advisors where she represents private equity firms. leslie served in the bush administra

tom: yes. look atoint is if you this campaign, look at 2016, people don't understand that hillary actually does care. it didn't come across. she was portrayed as very much an insider, a policy wonk, not somebody who has a heart that, you know, you were asking about joe biden, who obviously is somebody who emotes, and i think that -- charlie: especially with working-class people. tom: yes. charlie: were you surprised to see al gore go to trump tower? what's that about? tom: you know, it's -- i know that al is incredibly sincere on climate and i think that he will go to the ends of the earth to try and make a difference, and i think he went to the ends of the earth to try and make a difference. [laughter] charlie: and do you think it might help? tom: look, i think what we're seeing, you know, from the trump administration, the president-elect, is a lot of conversations and a lot of tweets, but there are some facts out there. he is appointing people. he is relying on people on the epa transition.

tom? tom: thanks so much. let's get to our two esteemed guests, first, equities, bonds, currencies, commodities. ecb out tomorrow. -- nexthi's comments screen, please. breaking down finally from what we have seen the less two weeks, below 12. gold as well hovering. francine: i like the fact that you are looking at gold. i am looking at a lot of european stocks. the banks are coming out with more cost cuts. they had to redo some targets. the share price is gaining. extending the -- goldman sachs extending the longest streak since september. crude, 51. there was a little bit of optimism after we heard vladimir putin wanted to speak individually, himself, to his oil companies, and also to cut production. tom: we have spent weeks where our people talk to their people. we wanted to get michael spence and richard haass onset together. has worked at stanford university. richard haass -- ambassador to northern ireland -- talk about political tension of another time and place. your book, "ass, world in disarray." did y

tom: thank you so much. joining us from london, stephanie baker. is an active day as we try to get to the weekend. what an interesting secretary of defense. let's begin with cabinet 101. how unusual is a general as a secretary of defense? stephanie: it is quite unusual insofar as he only retired from the service in 2013 and that is the biggest issue facing his appointment is the issue of civilian control of the military . to get confirmation, he will throughget a waiver federal law that requires defense secretaries to have at least a seven-year gap between active duty and serving as defense secretary. some democrats have said they will oppose him because of this, but he enjoys the enthusiastic support of john mccain, the chairman of the senate armed services committee. i don't think that he will be blocked from being confirmed. why are we waiting so long on secretary of state? i had this question four times yesterday, isn't this being done in a bit of a rash relative to other transition times? stephanie: i d

tom? >> david kerley for us tonight. david, thank you. >>> now, to a new announcement from president-elect trump tonight, claiming thousands of jobs are coming back to america. but how and when still unclear. trump speaking brief little before cameras for the first time in days, and sending a mixed message when it comes to his transition and the role president obama is playing. this, as both leaders deal with an escalating problem involving israel. abc's mary bruce reports from washington tonight. >> reporter: late today, donald trump emerging from his florida estate. the president-elect announcing that sprint is bringing jobs back to the u.s. >> so, we just had some very good news, because of what's happening, the spirit and the hope. i was just called by the head people of sprint, and they are going to be bringing 5,000 jobs back to the united states. >> reporter: trump also announcing another company, one web, will hire 3,000. the details still unclear, and no word from one web. but spr