matt and nique. the one where she allegedly flashed him. >> she tore off her top and says, come on, let's go, let's act like a family. >> were you expecting any sort of comment like that? >> never. i -- never. >> once nique disappeared, clegg says, matt leili inquired about having his wife involuntarily committed and even hired a divorce attorney. a man who knows his wife is already dead, he says, wouldn't have done either of those things. >> he did not really want to divorce her. he wanted to let her know, look, here are your options. you can go get help for yourself, or i'm going to go forward with a divorce. >> the defense wrapped up its case by calling matt and nique's two daughters, rebecca, now 14, and amanda, 17. >> did you ever see your dad hit your mom? >> no. >> did you ever see any obvious injuries or bruises to your mom? >> no, sir. >> according to the girls, their mother was the one with the violent temper, not their dad. >> she took a heel and threw it. i myself had to duck from it. >>

matt: absolutely you can. part of it is thinking what will -- what the fed is going to do with its balance sheet. let's face it, when the fed starts to reduce its balance sheet, the treasury will have to make up for that lost funding. they will have to increase issuance. coupon sizes are going up, and that could cause premiums on the back of the curve to rise. lisa: i think it is consecrated. -- complicated. i wrote a story saying that and i got a lot of valid arguments about why that will not lead to higher yields. it is not so clear, i would say. jonathan: what are theasic arguments? lisa: first of all, you have an aging population that is piling more into longer-term debt. the second is it is political to increase the deficit. the third argument is that, in general, any rolling off the balance sheet would have no effect. these things coming together lead to not a big move. matt: don't get me wrong, i think we are talking about two different time frames. over the long-term, interest rates will find it harder

matt? matt: thanks very much, sophie. the brazilian president michel temer has headlined a conference in sal paulo. he fights for his future temer said he has no intention of stepping down . it comes as the country's central bank is expected to cut rates later today and signals there could be more to come. r for more, the head of maker research joins me now. hanks for your time. let me get your take on what's going on in brazil. as an investor, should you be running scared here? >> i think you should be concerned. i don't know if you should be running scared. the situation is that the economy as everyone knows by now has been in a deep recession and has started to recover and inflation is subsiggede, very low, below target. inflation expectations starting to come down. we expect a 100-point basis rate cut today. this political crisis made its wave -- matt: don't we need temer in power and his presidency not marred by scandal if he is to push through the reforms that are necessary for the economy? >> it would certainly hel

matt, i want to begin with you. how much of the trump element in the reflation trade has brought down the markets? >> if you are looking up at the 10 year treasury yield, you'll find that it has come down a bit from the postelection highs. one of the ways i like to look at it is by looking at term premium. i think it is a nice measure of how people are thinking about the trump presidency and its effect on markets. we find that quite a bit has come out of the treasury market. a little more than you would suspect if you just look at the 10 year treasury yields themselves. one of the things i like to do is looking at our 10 year treasury premium measure. this is mttpus10 on the bloomberg. what you can see here is we have taken out quite a bit of the postelection jump in term premia. lisa: you can look at the two-year tenure spread and see the narrowing. it is at the narrowest since the election. that is a good look at how the trump trade has been narrowing. -- has been evaporating. bond markets have not bought into the

matt: all right, thank you. we're going to hear more about this modi-miracle meeting throughout the morning. with this is peter, rate strategist at cba europe. i keep going back to this screen on the bloomberg behind me. i put germany in a drop-down box and as far as exports, let me go here. we can see -- and it shocks me, the u.s. buys more stuff from germany and france, which is next door. just a massive customer. was merkel -- his german beer truth serum? was she just so disappointed after brussels in sicily? was probably speaking to the choir because this was an internal meeting. it probably does reflect that we have a new relationship. i think the u.s. doesn't seem to be practicing a constructive type of relationship. certainly when it comes to global trade, climate change, etc. merkel is it knowledge and what everyone knows at this stage. ,e are in for another three three and a half years of difficult policymaking between these two very large nations. matt: you have to draw up a new map as someone who foll

matt, thanks for joining the conversation. matt: pleasure to be here. rosemary: so, matt, we'll start with you. the grandson of h.h. holmes believes that he was jack the ripper, what do you believe? matt: well, jeff, mind you, has--he was--he's done a great deal of investigation into this. he's dug up a lot of convincing arguments. it's really hard to tell. it's entirely possible. he's made some very convincing arguments to that effect. there are other convincing arguments to the effect that when he mentions london, for example, when h.h. holmes mentioned london, it could be london, ontario. he spent a lot of time in ontario. in fact, he committed two of his final murders there in toronto. so, you know, for every argument he makes, there's a counterargument. george: it's a pretty fabulous narrative, but there are a lot of questions i think you and i have talked about, matt, about how realistic it was, especially imagine this is not the day of plane travel, you know? this is in the, what, late 1800s, right? so, there are questions about how realistic it

matt? matt: juliette, thanks very much. president donald trump fired fbi director james comey late yesterday amid the agency's investigation of russian interference into the election. in a letter, he wrote the bureau needed new leadership to "restore public trust and confidence." let's bring in bloomberg mliv macro strategist mark cudmore in singapore. do you see any reaction in asset prices to this news? mark: the initial reaction was subtle but there. the news came out in the late u.s. day, early asia time in the twilight zone. there was a tick down in the dollar and u.s. equity futures and a rally in treasuries. it hasn't sustained. the asian session was quiet, it helped there was a holiday in singapore. overall, no follow-through in this reaction. there are two arguments in this. the negative side is this is highlighting trump's ability to surprise markets with his rash decision-making, at a time when north korea is threatening another missile test and it undermines his ability to get further fiscal stimulus past. posit

matt, i want to begin with you. how much of the trump element in the reflation trade has brought -- has drained out of the mkets? >> if you are looking up at the 10 year treasury yield, you'll find that it has come down a bit from the postelection highs. one of the ways i like to look at it is by looking at term premium. i think it is a nice measure of how people are thinking about the trump presidency and its effect on markets. when we do that, we do find that quite a bit has come out of the treasury market. a little more than you would expect if you just look at the 10 year treasury yields themselves. one of the things i like to do is looking at our 10 year treasury term premium measure. this is on the bloomberg terminal. what you can see here is we have taken out quite a bit of the postelection jump in term premium. >> you can look at the two-year tenure spread and see the narrowing. it is at the narrowest since the election. that is a good way of looking at how the trump trade has been narrowing. but bond market

matt? are: one of those things we going to continue to talk about this central banks and their affect on currencies. we are talking about the krone in the crosshairs as the meansthening currencies something for the icelandic central bank. we hear from the governor at 8:30 u.k. time. us, is it paper time here in -- taper time in europe? weberrom that with axel on when the ecb will talk tightening. this is bloomberg. ♪ ♪ manus: 8:13 a.m. in london. volatility in europe is down again. equity markets up. volatility dropping by another 15% this morning. if you click on your mliv, there is a wonderful line. , dividend will be short-lived. strong fundamentals will drive the market higher. long live europe and its equities. deutsche bank's asset management cio says compared to the u.s., europe is on a historical basis. let's get a perspective on markets. nejra cehic joins us. nejra: a bit of perspective in the mid cap sector. interesting moves this morning, starting with pandora. his company ha

matt: actually, matt miller in frankfurt. i was wondering about the sort of other internal challenges that iran faces as it enters these elections. what else is going on there? economy ish, the center stage here. very much, issues like inflation rising prices. we put together a chart here you can pull up on your bloomberg for the additional context in terms of where inflation was and where it is today. 30%, as high as 30%. that is down to 9% now. you are looking at stretched can sooner finance -- stretched consumer finance. the other thing we are watching is an employment. political ponder bloomberg. you can see we have crossed this with economic growth. stabilizing at 4%. we were in contraction not many years ago, and unemployment at 12.4%, even higher among youth. this is an offense a vote of confidence in hassan rouhani's policies. guy. very much indeed. fascinating coverage. fascinating story. live in tehran throughout the day with user. fantastic team on the ground doing great work. up next, deutsche bank's bid to dispel

matt. >> people on a mission to get to work this morning, matt. we're dealing with some low clouds and low speeds here along the 30 bypass in thorndale chester county. we'll check the other morning delays and talk about several spots where they're tearing up the roadways for springtime milling when "action news" continues on this tuesday morning. >> ♪ >> 6:44. tuesday how is the commute shaping up. >> what you say we get back to this thing after the holiday weekend. here we go and the delays are back matt and tam here on 422 eastbound side now a slow space from the saint gabe's curve to trooper on into 23. overnight work crews return tonight on this chunk of 422 and they'll actually chose the eastbound off-ramp to 23 the next few nights for construction. a vehicle ran into a pole, a downed tree as well. it's kind of a mess of a scene in wayne along weedily road. i would still avoid that. no major problems on the pennsylvania turnpike, northeast extension or blue route so far this morning. but delays have formed on the schuylkill, speeds like 11

matt, manus. matt: thank you. the federal reserve bank of san francisco president john williams says three rate hikes this year make sense, because the u.s. economy is close to the twin goals, and the central bank needs to aim for growth that is "not too hot, not too cold." >> with our attainment of our goals close at hand, it is more important than ever for monetary policy to work toward the goldilocks economy. not too hot, not too cold. we want the porridge to be just right. matt: joining us for more is mark cudmore. mark, is the amount of tightening underpriced by the market? overpriced? or is it just the right amount? >> i think it is nearly the goldilocks price. we're definitely pricing in one hike in june. the comments back to that up. it's the next one the market is still debating. the fed are guiding toward three hikes, but it's important to remember that three hikes will be more than the whole previous decade put together. so i can see what the market is taking a little while to fully grasp in and price t

they meet in berlin later today, matt. matt: that's right. expecting that meeting around .oon, so six hours from now we are less than a half-hour from the european open. bureau stocks -- euro stocks rising a quarter percent. cac futures, looks like a risk on day. investors are selling off bunds. i have a three-day chart, let's move it to one day so you can see the price action. you could see some volatility there, but yields are still up 0.4%.right now, to .0 guy: what do you make of the win for merkel? north rhine-westphalia is big, and she took it big. is it in the bag, when we get to the central vote in september? matt: i don't think you can say it is in the bag, because we still have four months, and last year in the u.s., not everybody thought donald trump was going to be the next president in july, or even in august or september. but we do have a really shocking victory for merkel, it is the second time in 50 years they have taken north e otherestphalia, so th party is the worst showing since world war ii. really, really shocking messag

matt? matt: thanks very much, juliette. make it a sense of the national mood when voters of the country's most popular state goes to the polls on sunday. her party is put one point ahead of her opponents come of the social democrats. the outcome of the regional election could give an indication of whether or not the electorate will give her a fourth term as chancellor in the national vote in september. bloomberg's germany government editor has more on this in berlin, with us now. tony, a very industrial state, traditionally an std stronghold. how does it look for this sunday? like merkel -- or her party in this case, since she is not running herself obviously, that the cdu could pull out a victory here. which would be a big upset. they have only done it once before in this state in 50 years. showing you how much of a social democratic stronghold it is. and the polls to suggest that the government that is in power now, which is led by the spd would not have the majority. would be voted out on sunday, if the numbers hold up.

guy and matt. indexthe euro stocks 50 is approaching a golden cross on its weekly chart, with the shorter 50 week moving average poised to break above its longer-term 200 week moving average. we have thrown in the 100 week here as well, just to show you that is as well moving up to the 200 week moving average. this last happened in august of 2013. the rally was about 20% after that. what is more extraordinary is the two moving averages are also converging with the 100 week line, the closest they have gotten since 1993. we are joined by sebastian , the head of deutsche bank. this is a technical indicator, not everyone buys into this technical mumbo-jumbo here. but if enough people do, it becomes a self-fulfilling prophecy. what do you make of the euro stock situation? >> we had a fantastic rally starting in the middle of last year, which is taken up the index by 30%. if you ask why this is happened, is it because a golden cross was in place? i think the main driver of this was that in 2016, it was w

well, matt, you're at the table now. -matt: yeah. -lemonis: how's it going? matt: it's good. beer's doing great. -lemonis: is it? -matt: yeah. lemonis: beer sales, as a percentage of total sales, have actually slipped a little. is that because of the time of year? matt: um, time of year, but if you look at last year, it's slipped since last year, too. lemonis: about a year ago, i invested in a comprehensive tap system, and we doubled the number of beers that we stocked on the retail side. everyone knows that craft beers are expanding in popularity, but our numbers are falling, and that makes no sense. we got how many tables and chairs in here? mike: about 145 people, yeah. lemonis: and so 145 seats should turn two times a night. that's 2,030 people a week should come through here. how many guests a week are you seeing? man: 600 to 700. lemonis: you're operating at less than 40% capacity. we need to have that retail restaurant bar be busier more often. so, the bar business and the internet business are operating separately, right? who buys the wine for the internet business? m

matt, ecb, big day. matt: yeah, it is also interactive radio. i will be joining you on london dab digital radio to talk about the fsr, what we expect from the ecb's financial stability review. when i talk to vitor constancio or year ago after the sfr, he told me he sees inflation close we willoal in 2018, so see if you still think that is the case. about five months ago, after the fsr, he told me the ecb would continue monetary support for europe in case of a u.s. contagion if asset prices fell. they did not. i will ask him about monetary policy and inflation after the fsr at the ecb this morning. guy. guy: absolutely. looking for to the conversation. we will have more when we come back. this is bloomberg. ♪ guy: 44 minutes past the hour. this is the open. let us check out the stock stories with nejra cehic. nejra: i am starting with telenor. these shares gaining. they outbid rival bidders. this has ended months of speculation as to how they would -- telenor, one of the biggest gainers on the stoxx 600 in this session. if i look at what is los

matt, take it away. matt: i wanted to point out to any of our viewers with bloomberg, tv is a great way to watch this program, and really experience any of the bloomberg media outlook, because you can click on to the interactive tv box to watch us and to participate in the conversation, but you can listen to bloomberg radio here or follow even coverage. very important for bloomberg users, and it really helps us work together as well. it is an incredibly interactive function. now, deutsche post failed to deliver. we have been telling you this morning, missing estimates in the first quarter. we are going tuesday with the ceo, frank appel, at 8:45. just of human it, u.k. time, to discuss what happened, why, and the outlook for the future. investors need to tune in. this is bloomberg. ♪ manus: 8:24 a.m. in london. 8:40 4 a.m. in london. juliette saly with first word news. juliette. juliette: mattis, the european commission sent a letter to the u.s. government regarding a possible ban of electronic dev

matt. >> matt: the 19 of daniel suarez. he puts so much into it. watching films from past races and talking to drivers. he acclimates himself to new situations. he did a double duty in chicago in 2015. ran 525 miles in a truck and indycar. he continues to get better. they can't wait until they go to racetracks for a second time like here in charlotte. >> mike: what's about the difference between these two, carl edwards had won a lot of races in. a lot of history and success. erik jones stepping into a brand-new race team. with jones running seventh and truex leading, barney visser might have his first-ever race with two of his cars finishing in the top ten. >> darrell: it's looking good right now. both cars running extremely well. the 78 is in a league of his own. he is checked out on the field right now. just like last year, mike. it's like dÉjÀ vu all over again. >> mike: kyle busch, two seconds back. kurt busch and matt kenseth four seconds back. harvick, five, suarez and jones, six. >> darrell: only difference in the 78 car this year and last

matt, i want to begin with you. how much of the trump element in the reflation trade has brought down the markets? >> if you are looking up at the 10 year treasury yield, you'll find that it has come down a bit from the postelection highs. one of the ways i like to look at it is by looking at term premium. i think it is a nice measure of how people are thinking about the trump presidency and its effect on markets. we find that quite a bit has come out of the treasury market. a little more than you would expect if you just look at the 10 year treasury yields themselves. one of the things i like to do is looking at our 10 year treasury premium measure. iss is an the tdp -- mttpus10 on the bloomberg. what you can see here is we have taken out quite a bit of the postelection jump in term premia. >> you can look at the two-year tenure spread and see the narrowing. it is at the narrowest since the election. that is a good look at how the trump trade has been narrowing. markets have not bought into the trump trade as much.

matt? -your name is matt, right? -matt: yes, sir. lemonis: who's in charge between the two of them? if the building is burning down, who do you go ask? matt: i call 911. [ laughter ] lemonis: when you have a situation where there's 50/50 partners, you also have 50/50 leaders with no one clearly in charge. what is the total revenue of the business? keith: last year, our revenues were down a little bit. -we did three and a half. -lemonis: $3.5 million? keith: yeah, just over $3.5 million. the two years prior to that, we were $4.3 million and $4.4 million, respectively. lemonis: so, business is down. keith: one of my bigger customers, they slowed down for a couple months. -lemonis: what's the name? -keith: weis markets. lemonis: weis markets? okay. of the $3.5 million, how much do they do a year with you? keith: last year, they were just over $2 million. lemonis: so, more than 50% of your business is one retailer? keith: yeah, last year. lemonis: and if they decide to change vendors, you're toast. keith: yeah, we'd be in a little bit of trouble. lemonis: it's risky for me to invest in

his son matt was the plat. matt worked at gm for 13 years.. his dad retired a few weeks before matt had the layoff. i talk about what is was like for maybe to have a big retirement party knowing he had two kids about to lose their work. and matt also went back to school.t back t he was doing very well. he thought he would try to go into utility work. he was studying electric power distribution.in and just before he was to finish up, he really began to think hard about whether a job would be waiting the other end and like a lot of people, i mean, the willpats like all the families i write about were very financially responsible people. but finances weren't so good, and as you all know, people who had work at general motors had an advantage that people who were the suppliershave, which is they had transfer rights. so matt became one of the so-called gm driftees. he took an offer at fort wayne, he has been commuting there for seven years, got eight years go until he is eligible to require time and to this day he leaves monday morning and comes ho

thank you, matt. >>> breaking news here. live look from the action cam as police investigating a shooting that injured a convenience store employee in the city's tacony section. the worker at the 7-eleven on the 6900 block of torresdale avenue was shot twice during an attempted robbery at 4:00 a.m. the shooter took off but police say they were able to track down what they are calling a person of interest. that person is speaking to detectives. the victim was wounded in the arm and chest and is hospitalized in stable condition. >>> now to developing news. a 14-year-old is killed and another teen injured in a shooting in the city's port richmond section. police are still trying to figure out what sparked the gunfire. "action news" reporter jeanette reyes is live for us at police headquarters. jeanette. >> reporter: well, matt, at this hour still more questions than answers. one teen shot to death, another still at the hospital right now with wounds from that gunfire. police are sifting through evidence trying to track down to

matt: absolutely. a horrible tragedy in manchester, affecting markets more, though, is the concern that donald trump may have told his intelligence chief to deny, to come out and publicly denied that there was any collusion between the trump campaign and russia. here you see what that's doing to risk assets. a stronger japanese yen, stronger against the dollar because you can buy fewer for $1. a weaker pound on the back of that manchester terror attack. take a look at oil and gold. oil has been helping lift the markets the last few days. we do see it down today after a few days, and last week we saw 5% gain, and yesterday we saw 1% gain. gold may be coming back as investors look to gold as a safe haven asset, only a small gain. let's get down to bloomberg first word news. for that we go to hong kong and juliette saly. juliette: matt, thank you. u.s. president donald trump and is really prime minister benjamin netanyahu has said they see an unprecedented opportunity to achieve an elusive mideast peace a

matt, guy. matt: thanks very much. saudi arabia's energy minister says all of the oil producers he has talked to are on board for a nine-month extension to output cuts scheduled to end next month. speaking to bloomberg in riyadh, he says saudi arabia won't take up any slack for producers to deviate from the agreed output limits. heard of not spoken or any country that is against the extension, we realize we have achieved our objective of bringing global inventories to the five-year average. concerned they are pricing production cuts in? >> i am not talking for a specific price. what we are looking for is an whereent for the market we are steady as we go, committed to inventories on the five-year average. but there is stewardship of the market by a large group of producers, opec and non-opec working together, and i think that curbs investment. my objective, clearly, is where thef market is going so people invest. end of this decade, when supply is short, demand will be approaching 100 million barrels, decline,ave annual

matt: no. lisa: no. jim: no. jonathan: treasury curve you'll steeper are flat. matt: flatter. lisa: flatter. jim: steeper. jonathan: e.m. -- long trumpovocative, fiscal reforms or long temer? matt: temer. lisa: temer. jim: temer. jonathan: that is not what i expected to hear. matt on back, and lisa abramowicz. we will see you next week. this is "bloomberg real yield." ♪ 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. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories around the world. the s&p 500 is gaining for a second session following the biggest seller of the year on wednesday. crude above $50 a barrel n

matt. >> thanks matt. new this morning small fire forced a jetblue flight to make an emergency landing in grand rapids michigan. the plane took off from new york's j.f.k. airport to head to san francisco last night. a passenger smelled smoke and alerted flight attendants and they discovered a battery charger in a backpack on fire in one of the overhead bins. emergency crews removed the charred battery. no one was hurt. >> a man was taken into custody after a nearly three hour standoff at orlando international. the situation was contained to the rental car area of the airport last night. investigators say 26-year-old michael pettigrew was using a fake gun to provoke officers into shooting him, what some call suicide by cop. >> when we started approaching, yeah, there was just a few police and before we knew it, there was a lot more and more police, homeland security, s.w.a.t. team. >> pettigrew a former marine is undergoing a mental evaluation but also faces aggravated assault charges. investigators say the

guy, matt. matt: juliette, thanks very much. china plans to change the way it calculates the yuan's daily reference rate against the dollar, adding a countercyclical adjustment cycle that made blunt the impact of big market swings. that is from people familiar with the matter who declined to be identified. we are joined with mark cudmore at a singapore. what is the significance of this? what will the of xp? -- hat will be fx the effects be? >> it is not been confirmed, but it seems like there is something funny about the fixing. the dollar yuan fixing has come in lower than expected based on the previous day's close. -- it is adding a layer of stability, and stopping capital outflow pressures that seem to be waning anyway. this should fully stem of that pressure from outside. this in the short-term is positive for chinese assets. in the long-term, it is a step backwards form letting the yuan be free-floating. matt: why are they doing that now? what is the significance and the timing of this? >> it is curious, the timing. they ha

matt diller is in berlin. what are we watching, clearly the story in manchester. 22 people killed, dozens injured at a pop concert attended by teens and children. we will talk about that throughout the program and bring you analysis. he's in the middle east. president trump uses a threat from iran as leverage to bring israel and the palestinians together. can he get the rivals to the bargaining table to do a deal question mark the odyssey continues. a deal on greek debt relief, creditors angry, reaching an accord next month. , 22 people have been confirmed dead with around 50 injured at a blast in the u.k. in manchester. it happened at the manchester arena late last night as a pop --cert by arianne ariana grande was wrapping up. most of the u.k. attack since the london bombing in 2005. theresa may will chair a meeting of the emergency committee at 9:00 a.m. u.k. time. our executive editor for international governments joins me on set. the prime minister and the home secretary before that, she has experience in

matt o'donnell is off. jeanette reyes is with us. >> new this morning, philadelphia police are investigating a double stabbing that killed a man. >>> also sparks fly in the city's lawncrest section leaving several people without power. >>> it's a soggy start to the memorial day holiday, but that won't dampen your entire day. >> let's find out about that, david murphy has accuweather and matt pellman is in for karen rogers taking a look at what hopefully will be an ease going commute. >> reporter: we'll see about that in a second, matt. right now we have a bit of rain over east of philadelphia. the city is dealing with some of this, as is trenton. northern suburbs, additional showers in reading and moving toward the northeast. over the next several hours most of us will dry out. we can't rule out lingering drizzle or spotty shower. the bulk of the rain happening right now. we might see late day clearing, but overall we have to characterize today with mostly cloudy skies and east of pittsburgh we might have s

guy and matt. guy: the white house on the defensive for a second day following a report that president donald trump get -- tried to get the fbi director james carmi -- comey to drop the investigation into his former national security advisor which democrats call and obstruction of justice. it is true. the white house has denied the allegations. with comes after the revelation that president trump revealed classified data. -- classified data to the russians. where are the details? where are the reports coming from? latest report is that the former fbi director james comey wrote a memo that said that trump had asked him to quit the formergation into national security adviser michael flynn. the white house has denied that the account in the memo is true. so righted that and now, lawmakers are trying to sort through what actually happened between trump and comey. matt: what are the possible consequences if this report proves to be true? >> one question that people are asking right now is if the allegat

matt. >> thank you, matt. >>> developing from the overnight a 14-year-old is dead, another teen is wounded in a shooting in philadelphia's port richmond neighborhood and police are still trying to sort out how this unfolded. "action news" reporter jeanette reyes joins us live from police headquarters with the information she's learned this morning. jeanette. >> reporter: well, matt, right now there are more questions than answers. the one teen is dead. he was shot to death, another teen in the hospital right now with wounds from that gunfire. right now police are assisting -- sifting through evidence hoping it will lead to the killer. take a look at the bloody scene left behind at the intersection of frankford and oreland. police responded to reports of gunfire. a 14-year-old was found, he was shot multiple times in the neck and back. he was taken to saint christopher's hospital and initially listed in critical condition but later died from his injuries. police then found a 16-year-old shooting victim. he was shot in the shoulder. we're told he is in stable condition at this hour. police h

matt: and i'm matt miller here in berlin. risk let's put up the radar and show everybody where we are on the overnight session, the asian trading day higher on equities. the msci asia-pacific of 5.8%. of by .8% for the price of a barrel of crude. were indiana and will get more from manus shortly on the program indiana. the russians talking about the option for a further extension. so these facts very much in focus and is the move in the dollar, a little weaker on those sentiments. concerns about inflation lead to questions about what happens thereafter. matt: that was interesting to me, we saw treasuries yesterday actually get on up, which at that was fascinating, after the notes came, the minutes came out , we saw note get off. right now are looking at 2.25% as the yields on the teen your climb back up a little bit today. fallen by 1.3% yesterday. maybe stabilizing today. then you see the renminbi right now down a little, but it had gone up yesterday as well. for is how many you can buy a dollar, more than you could buy a co

matt: that's right. a ruling out of the eu's top court that eu nations and regional parliaments need to sign off on a singapore-eu trade deal. thatsa may has been hoping the eu would be able to ratify the free-trade pact with singapore without all of these different parliaments signing off, judges at the eu court of justice have said they do need to undergo -- a torturous --cess what some have called 38 different regional assemblies, in order to an -- indoors this deal. fascinating. in some ways, you could argue this could make the brexit trade deal easier because what you have to do is generate a more slimmed-down process -- slimmed-down structure which may end up being easier to get through. lot in going over a trade legislation. matt, you know about ford than anyone else, what is going on? a lotford is going to cut of its workforce, 10% of its global workforce, this will affect the salaried employees. those getting paid a lot. is it possible this company can make a u-turn because the shares have reall

let's get a check with the day's forecast with matt peterson. >> matt, you look so great, nice to see you on this friday. >> katie a little under the weather, hopefully not watching. >> yes. >> katie, all right, matt, good to see you, happy friday, very busy in the worlds of travel. very serious accident out there amongst flooding and whole other host of issues this morning, so we're getting to all of that. >> weather shouldn't be causing too much after problem, the big problem for us yesterday on the area roadways, of course we had all of the showers, and we had few areas of thunder as we move through the overnight house, but the good news that low now moving off the coast, with just few scattered rain showers here across the area this morning. cloud cover is out there, as well. shouldn't again cause too many problems on the area roads on this friday morning, of course, everyone trying to get going little early. temperatures for us, in the 60s, actually race friend 58 degrees about an hour and a half or so ago, up to 60 in center city, looking at 60s down toward the shore point, dove

matt: thanks. federal reserve banks of san -- of thepresident start of the fed triggering the balance sheet, this year will and andut five years and a process that could leave for balance sheet considerably smaller. he spoke in singapore earlier today. >> my view is we would start the .hrinking of the balance sheet i expect the start of the normalization of the balance sheet. .hat will take several years decline organically over several years. i think that is the view. me one moment. i think that is the process to happen in the background. it will hopefully be boring. the open question your asked in, how big will abounds sheet be five years from now once this has all have and? that is something we have not decided on. .uch smaller than today the question is, what is the best have in the u.s. bank system? ago, that would be $30 billion and a tight lid. probably easier to conduct monetary policy, even better. $700 billion in reserves. question of reducing the balance sheet significantly, inset the en

matt. >> hey, matt. we're saying neigh if you're thinking about heading for the vine street expressway. off the schuylkill the eastbound ramp remains closed but otherwise the vine is in the process of reopening after overnight construction. our main issues this morning are construction and a whole bunch of fog that we're seeing around the region. but on the big picture speeds look pretty good along the schuylkill expressway and 95. overnight work on 95 northbound in chester near kerlin street just cleared out. everything is reopened there. if you have to head to the airport to catch a flight. live look in exton along 202 construction in the northbound lanes. overnight work has cleared though. they will be back later tonight and we're finishing up work at the burlington bristol bridge. crews should be out of there in the next 10 minutes. at the ben franklin bridge it's a whole bunch of fog and there are some speed restrictions because of the soupy conditions, tam. >> thank you, matt. >>> time now for that

matt pelman is here to take a look at the vine street expressway. matt. >> yeah, sure, matt. unfortunately we have an accident on the vine westbound by broad street involving a school bus. it doesn't appear to be overly serious. couple other vehicles also involved and you can see penndot and police are on the scene. now, traffic can get by in the westbound lanes. that's the good news. but it is a little bit slow as you come away from 95 and pass broad street headed out toward the schuylkill expressway. >>> speaking of 95 in the great northeast a fender-bender on the northbound side north of cottman. of course it's southbound where the bigger delays are from academy into girard and major problems on 95 in mercer county. locked up northbound from scotch road up to past federal city road where there's a crash taking out the left lane. single digit speeds. i would definitely come up route one instead of 95 northbound this morning. matt. >> thank you, matt. karen rogers is in for dave murphy next. chris christie: addiction is a disease. it can happen to anyone. help is within reac

matt delucia, nbc10 news. >>> we are also following breaking news out of north philadelphia. nine people in the hospital after a shooting spree. two of the victims are in critical condition. the shooting happened around 10:30 last night at 23rd and sergeant streets. police say it appear as group of relatives that live in the area were outside and having a good time and listening to music when the shooting happened, and investigators believed one or two shooters walked up to the victims and opened fire. officers at the scene counted 27 shell casings. the victims range from 18 to 26 years old, and a total of seven victims. they are being treated at temple university hospital and two are at hahnemann hospital. detectives this morning continue to look for surveillance video in the area and we will continue to stay on top of that one as well. >>> breaking news overseas. the u.s. and south korea confirm north korea launched a ballistic missile today. we have file video of a previous test fire. the missile was tracked 300 miles until it landed in the sea of japan. and today's missil

for matt o'donnell, matt pellman, david murphy, i'm tamala edwards. now to "g.m.a." >>> good morning, america. holiday travel alert. tens of millions on the move for memorial day as a dangerous storm moves in. severe weather taking aim at the middle of the country and moving toward the east coast. thousands of flights already canceled or delayed. these passengers tuck on the plane for hours. as the busiest travel weekend in more than a decade gets under way. our team is spread out across the country tracking it all for you this morning. >>> also happening now, president trump meeting with the world's most powerful leaders and talking north korea. >> it's a big problem. it's a world problem. it will be solved. >> how is he being received and the president's shove seen around the world. also breaking his son-in-law and top adviser jared kushner now caught in the crosshairs of the russia investigation. the major

and people say they enjoyed the fireworks, despite the rain, but matt peterson joining us now, matt, still getting some now, but apparently you say there is an ends in site? >> we are getting little bit of light shower activity, little bit coming down, not too bad out here. right now. but we are going to be watching for this light scattered, kind of spotty rain shower activity through the morning, but then the brake comes later headed through the afternoon and into the evening hours, tonight, storm scan3 showing you showers out here this morning, they are now extending little bit further south closer toward some of the jersey shore points, those have kinds of woken up, if you are south of atlantic city becomes drain start to the day. again, few showers could start to now work their way in, out toward the poconos, also, little bit on the wet side this morning, maybe even rumble every thunder for you folks up in the poconos n general, dealing with this spit shower activity for pretty much the entirety of the day. had some fog yesterday morning, usually get little bit of the rain we can

. >> thank you, matt. >>> and we continue to follow some bizarre breaking news. the report of a stolen car brought police to an olney home overnight but the investigation quickly became anything but routine when a woman came screaming to the street holding a seven-year-old girl in need of serious help. "action news" reporter jeanette reyes is live on the scene as police continue to try to figure this one out. good morning, jeanette. >> reporter: good morning to you, tam. this is even by police standards they're saying this is a strange case leaving them with more questions than answers. at this point we know a seven-year-old girl is fighting for her life and now police are looking for her 18-year-old brother. it all started here at this home about 1 o'clock this morning along the 5500 block of north america street. this is in the city's olney section. it began as a dispute between the girl's mother and her 18-year-old brother. police say the teen stole the mother's car allegedly and drove off. a police off

amid this horde matt reaches a lobby at 11:47 p.m. wearing nit cap, backpack over one shoulder he's not run aring but he too is walking very, very fast. friday night rit are chul and reaches chilly night air and coworkers wishes hail safe drive tonight. he stops for an instant 97th saturn he parks in the vast lot every friday in middle row under street lamp so he won't have to think about where he left his car when he returns on monday. he pulls his duffel from the trunk and county helicopters walking with very, very fast over to a nearby 2003, pontiac grand prix already idolling in the the driver's license is chris alldredge and backseat his coach scrunched up between him and door is paul sheraton both gypsies both. chris pops trunk to toss duffel inside and slam trunk shut before he get in on the passenger's side. matt's door is barely closed when he guns engine and or ruers off. 280 whiles to go. four hours and 35 minutes speed just a little where they're sure is they will not get caught. matt pulls out his phone and calls darcy sa

matt. >> matt: on the change with the another great stop from the boys from colorado. his car on this run on the free side. >> mike: three wide coming down pit road. that's erik jones, with jamie mcmurray in the middle. denny hamlin on the outside. denny hamlin picks up three. >> darrell: look at this pit stop. we've been seeing the 77 with the rear end kind of kicked out toward pit lane here. this time he comes in nice and straight. he could have come -- they've got it marked right there. >> mike: that's where he stops every time. >> jeff: i want to point out the 77 was able to stick his pit before jimmie johnson and the 48. every truck guy has their own way of conveying powerful. yeeaaahhh boy. kind of looks like a monster coming to eat ya. holy smokes. that is awesome. strong. you got the basic, and you got the beefy. i just think it looks mean. incredible. no way. i'm getting goosebumps. it's the chevy memorial day sales event. find your tag and get over nine-thousand three hundred ♪ if tomorrow all the things i am

matt, in your world, does this sound alarm builds -- alarm bells? matt: we think u.s. investment spreads are already two tight. a doublelking about whammy. we focus on the u.s. we think at some point, the bell will toll for u.s. investment-grade credit. jonathan: investors in the u.s. think id is too tight. what do you think about i at -- about em? jim: there is not a class on the planet that is too cheap. we have a relatively robust spread to the global government bond. it is not just treasuries. you have an awful lot of dem buyers from there. currencies were down on a by 50%.basis we wiped out a lot of currency overvaluation in em. now we have cheaper currencies, and look at really yields an emerging markets versus emerging -- a lot of investors see values in emerging markets. jonathan: i keep hearing the year 2013. can they really get on a balance sheet reduction path on the federal reserve without seeing significant trouble? view ofthink the fed's the balance sheet is at full they want to use in a passive way. forget it.et it and if they get a couple more rate hike

matt pelman has your commute. good morning. >> and as you suggested it's not going to last long, either. you got to enjoy it while you can. right now we're waking up in a fog for sure. there's a dense fog advisory for coastal waters and along the bay. let's look at these visibility reports. you can only see .3 of a mile in trenton, in millville, half a mile in atlantic city, wildwood and wilmington. 6-mile visibility now at philadelphia international airport even in the lehigh valley, two, 3-mile visibility. getting drizzle underneath the clouds. it's 62 degrees right now in philadelphia t it's at least a warmer start than yesterday. 61 in reading, millville and cape may and temperatures are going to be up today but we're already starting to see some storms build. they're pretty far out to the west now. we're watching them north and west of harrisburg but you see the progression of that lifting up to the north and east in the lehigh valley you'll be among the first to get some of these scattered storms so here is

>> no. >> okay, matt, thank you. well today we are meeting a man who row fuse today let go of his dreams. meisha here with love it. meisha? >> memorial day, oh, yes, incredibly special and powerful holiday filled with stories from the old, the present and the ones that haven't even been told yet. day to honor you are indeed yesterday bridge brave selfless and strong men and women in uniform from the us armed forces. i would be remiss not to choose and write a love it story on one of our heroes. let's meet a man proving it is never too late to accomplish the hard. it is true, no matter how big or small a goal might be never too late. milton mock errman wanted to serve our country so badly in 1944 he changed his birth certificate, enlisted in the u.s. navy fighting in worlds war two, in doing so, how much, he sacrificed much among the things he missed the celebration that was important to him. his high school graduation. upon returning home from war, the soldier's commotion about missing graduation prompted the school

matt. >> matt: pitted on lap 330. saying i need you to run 31 flat. compare that to truex. he is all the way back. he was running almost a second and a half faster of johnson. but he was about 15 seconds back a few moments ago. knaus told jimmie johnson our calculations have us running out at lap 399 so take it easy. easy on the brake. >> mike: that time, martin truex, was 1.3 seconds faster than jimmie johnson. but truex is 12 seconds back. now, the two childress cars, 3 and 31, dillon and newman are both on the their crew chiefs, justin alexander and lambert. college roommates. >> darrell: justin alexander, the crew chief on the car. go for it. could make him a hero tonight. you can't tell me that's not in the back of his mind. >> mike: jimmie johnson pedaling at 31.3 seconds a lap. >> jeff: the job of these guys right now is to conserve, get the right lap time and get the fuel mileage where they can make it all the way and stay ahead of the 78 and the 18 because those guys have the exact opposite agenda. they're pushing hard and they have plenty of fuel. they want to pus

matt. >> thank you, matt. david is off. karen rogers joins us after the break. >> ♪ ♪ ♪ with simply right checking from santander bank, just make one deposit, withdrawal, transfer, or payment each month to waive the monthly fee. and there's no minimum balance. you're alright with simply right checking from santander bank. ♪ are you feeling alright, baby? ♪ from santander bank. you knew when you cast it they'd lock you up. but that didn't stop you. you traveled far and wide, and others followed. mothers, daughters, sisters, lions. and because together you roared so loud, i know my voice matters today. this summer, come celebrate new york state's equal rights history. download our guide to plan your trip. >> have the umbrella up but it's just a little misty out here right now. let's look at storm tracker6 live double scan. in the lehigh valley watching for scattered showers and thunderstorms lifting up to the north and east right now and fog is a big issue for us especially along the coastline where you have just .3

mark: matt, good to see you. matt miller reporting from frankfurt. vonnie: let's check in now on first word news. emma: and south korea, centrist korean presidential candidate has exceeded -- has accepted defeat. he has accepted the people's choice. liberal candidate has won the election ending nine years of conservative rule. former replace the president who was arrested in march. a group of retired u.s. military officers have asked james madison -- retired general james mattis to stand firm in defending climate change. he is -- they are being called president trump to hold it paris climate records. scentedtences have been -- life sentences had been given to the man who attacked a nightclub in turkey. that is according to turkey's state-run news agency. the islamic state claims -- claimed responsibility for that attack. in the u.k., companies are finding it harder and harder to find workers, and brexit maybe making it worse. that is according to the recruitment federation. lackeport warns that the of clarity about immigration rules is putting off so