jack flaherty, subadra rajappa, jpmorgantilley from asset management. coming up, the auction block. russia makes a return to the bond market new york. this is "bloomberg real yield." ♪ ♪ lisa: i'm lisa abramowicz, in for jonathan ferro. yield." bloomberg real i want to head to the auction block. russia makes its return, we're talking about that. also, for the first time since 2015, the government sold all andillion rubles of notes offered bids for three times that amount. over in the middle east, like we mentioned in our last show, qatar and saudi arabia raised a combined $23 billion. those sales have helped regional bond sales climb to $46 billion this year. that is the most since 2007. incorporates, the swiss company six-park -- a six-park $4.5 billion deal to help refinance its 43 going dollar takeover by chemchina. order books were more than four times covered. still with me is jack flaherty from gam, subadra rajappa from societe generale and ian stilley from jpmorgan asset management. i want to start with russia and talk about when bond investors are going to get confidence

jack flaherty, subadra rajappa, and iain stealey. let's get a market check of or the bonds have been this week. yields higher, 10 year yield climbing up the 2.9% point, reaching near the highs of the year. two-year also rising, and the tenure is back where you see things climb. we have more coming up. this is bloomberg. ♪ ♪ i was samba limits in for jonathan ferro and this is bloomberg "real yield". different decision from the ecb and boj as they visit the white house, and french president emmanuel macron and angela merkel and north and south korea hold a historic summit. with me is jack flaherty, subadra rajappa, and iain stealey. with some rather surprising words from mario draghi when he was speaking at the imf. he said notwithstanding the latest economic indicators, which suggests the growth cycle may have paid, the growth momentum is expected to continue. has suggested that growth might have peaked in the eurozone sent euro tanking and yields lower as well in euro region's. you make of this and what guidance to the will get

still with me is jack flaherty and ian steely. with talkingrt about when bond investors are actually going to get confident to go back to that nation's debt given the conflict with the u.s. and the sanctions. in, i want to start with you. as ausing this decline buying opportunity? it is very difficult to do because there's just so much uncertainty in the marketplace. russia was a favorite trade for a lot of people. oil prices are on the up. just gotten the fundamentals moved to the side for a moment. we are really trading headline risk at the moment. levels you at the have got to back in 2014, we are nowhere near those yet. there could still be a lot of pain there. >> so you are neutral. jack, what about you? >> giving our toes. -- giving our toes. oil prices remain high. analyst but i can say that from a treasury perspective but we are seeing the currency has been moving. concerned,redit is to me there's still a lot of uncertainty. the currency is still continuing to be volatile because of sanctions and the like, so i would proba

lisa: my sincere thanks to jack flaherty, subadra rajappa, and iain stealey. we will see you at 6:00 p.m. in london, back with jonathan ferro. from new york, this is bloomberg real yield. ♪ ♪ scarlet: gold bugs rejoice. when investors turn on equities, and it turned to gold. what does this show in this rush into gold etf? yale university sets the standard with 12% return. but according to one analyst, el model is not something others can replicate.

. >> my sincere thanks to jack clarity -- flaherty and ian steeley from jp morgan asset mangagement. we will see a 6 p.m. in london, back with jonathan ferro. from new york, this is bloomberg real yield. ♪ ♪ yousef: you are watching the "best of daybreak middle east," here are the top stories this week. manus: the pentagon says that bashar al-assad's chemical weapons capabilities have been hampered. yousef: and exclusive look at the oil giant book as a prepares for a deal. manus: room for growth. the ceo of the intercontinental hotels group serves us in on the expansion plans. yousef: the week began with president trump