jonathan: from new york city, i am jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: raising the bar ahead of the g20. the u.s. looking for successful talks with china. as the growth outlook stumbles, traders reprice the rate outlook, leaving the fed looking to reclaim optionality. we begin with the big issue, the g20 in argentina. >> everything is at stake. >> hopefully we get some not bad news. >> in a trade war, nobody wins. in the long-term we all lose out. >> we are all, in europe, worrying on this battle between china and the united states, which has to stop after a certain moment. >> the whole trade issue has now become mixed up with strategic issues. >> trump wants to appear tough on china. we are not counting on a major breakthrough. the fact is this is actually starting to impact sentiment. >> if there was a trade deal with china, it would be better than what we currently have. i think the markets would be very excited. >> if that doesn't happen this weekend, the two sides are digging in for a trade war that will

jonathan: krishna? krishna: a lot of what was getting priced in in terms of not going to stop the visual has -- stop at neutral has been priced out. therefore if the tips are rolling over and expectations are trending lower, from an optionality standpoint, buying that option may not be such a bad thing. jonathan: let's talk about how this has been priced in to the treasury curve. we have gone from a flatness driven by the front 10 to something a little bit differently recently. priya: the bull flattener maybe a policy mistake. it might not be on the hike front. i think the balance sheet runoff is another form of policy. the fed is saying that's not an active form of policy. they are letting it run off every month. it is creating demand. the going to make another technical adjustment. what if we are at the steep part of the curve? you theit is telling fed might be a little late in acknowledging that policy might be tight on the balance sheets and hikes. i think that's driven from or by the fact that the

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro. "bloomberg real yield" starts right now. coming up, fueling global growth fears. trouble in paradise, leverage loaned funds suffering their biggest flows on record. we begin with a big issue. what does the fed do when 2019 looks increasingly uncertain? >> pause. >> pause. >> pause for the time being. >> i think in one hike next year. >> a debate going on. two more. >> two next year. >> whether this is just one more hike or three more hikes. >> i would be pausing until we had clear sequence of inflation numbers above 2%. >> we have a situation where the fed has reversed course. they have obviously raise rates. it does not get as much air time, but the $15 billion a the $50 billion a month in shrinking of the balance sheet is important. >> neutrals aren't 2.5. one person believes it's 2.5. we are not just below neutral. we're where neutral might be. >> i'm waiting for validation from the fed that they have changed direction. at the moment it's not clear. jonathan: joining me around the

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro. "bloomberg real yield" starts right now. jonathan: coming up, from hawkish to dovish and then totally confused. wall street grappling with said -- with said communication. -- with fed communication. the latest market worries, shutdown politics weighing on sentiment. plus, volatility pushing investors to pull money out of u.s. low funds -- loan funds and record pace. we will begin with a big issue, a market gripped by federal reserve confusion. >> chairman powell's message yesterday was so prophetic, it was taken badly by the market. >> it was not as dovish as people thought. >> it was a dovish hike. >> not as dovish as the market had discounted 10 minutes ago. >> that is a fairly dovish signal from the fed. >> three months ago, he was talking about he was quite hawkish, and then became more dovish. yesterday he was both. >> i didn't interpret the statement today as nearly as hawkish as market participants seemed to think. >> dovish on interest rates but hawkish on the balance sheets.

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro. "bloomberg real yield" starts right now. ♪ jonathan: coming up, from hawkish to dovish and then totally confused. wall street grappling with fed communication. d.c. this function. -- d.c.s function disfunction. the latest market worries, shutdown politics weighing on sentiment. plus, volatility pushing investors to pull money out of u.s. loan funds and record pace. we will begin with a big issue, a market gripped by federal reserve confusion. >> chairman powell's message yesterday was so prophetic, it was taken badly by the market. >> it was not as dovish as people thought. >> it was a dovish hike. >> not as dovish as the market had discounted 10 minutes ago. >> that is a fairly dovish signal from the fed. >> three months ago, he was talking about he was quite hawkish, and then became more dovish. yesterday he was both. >> i didn't interpret the statement today as nearly as hawkish as market participants seemed to think. >> dovish on interest rates but hawkish on the balance sheets.

♪ jonathan: from new york city, i for our viewers worldwide, i am jonathan ferro, with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, raising the bar ahead of the g20. the u.s. looking for successful talks with china. as the growth outlook stumbles, traders reprice the rate outlook, leaving the fed looking to reclaim optionality. in a world of uncertainty. we begin with a big issue, let us call it the g2 in argentina. >> everything is at stake. >> hopefully we get some not bad news. >> the thing about a trade war is that nobody wins. in a long-term, we all those out. >> we are all, in europe, worrying on this battle between china and the united states, which has to stop after a certain moment. >> the whole trade issue is now becoming mixed up with strategic issues. >> trump wants to appear tough on china. so we are not counting on a major breakthrough. but the fact is, this is actually starting to impact sentiment. >> if there was a trade deal definitely it would be better than what we currently have, and i think the market is be very excited.

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. "bloomberg: real yield," starts right now. ♪ jonathan: coming up, payrolls coming in below forecasts and wages missing estimates. investors pricing out fed rate hikes in 2019. inflation expectations rolling over, and market volatility leaving global bond funds facing the first full year of outflows in a decade. the big issue, the jobs report adding fuel to the rates debate. >> the wage number was perfectly solid. >> healthy report. >> this is a solid report. >> the fed wants to bring about a soft landing. this is a soft landing report. >> if the fed wants to soften its message in december, it sounds like it does, it can use this report to do that. >> it's worth seeing that things are different, and it is worth taking a look at that. >> i would not phrase it as a pause so much as stretching out the rate hikes. >> the fed may well move the dots down. >> what i am looking at, what i think they are signaling is that they will do something later this month, maybe, but that will be all fo

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. "bloomberg: real yield," starts right now. ♪ jonathan: coming up, payrolls coming in below forecasts and wages missing estimates. investors pricing out fed rate hikes in 2019. inflation expectations rolling over, and market volatility leaving global bond funds facing the first full year of outflows in a decade. the big issue, the jobs report adding fuel to the rates debate. >> the wage number was perfectly solid. >> healthy report. >> this is a solid report. >> the fed wants to bring about a soft landing. this is a soft landing report. >> if the fed wants to soften its message in december, it sounds like it does, it can use this report to do that. >> it's worth seeing that things are different, and it is worth taking a look at that. >> i would not phrase it as a positive so much as stretching out the rate hikes. >> the fed may well move the dots down. >> what i am looking at, what i think they are signaling is that they will do something later this month, maybe, but that will be all

jonathan: really? >> yes. jonathan: kathleen? >> high yield. >> high yield for sure. jonathan: got an idea where the consensus is. great to catch up with you. from new york, that does it for me. this was "bloomberg real yield." this is bloomberg. ♪ alix: that's 30 minutes of andy hall. or hedge fund closers, higher capex budgets. we sit down with legendary oil investor andy hall. why it is so hard to be a traitor now, and how to fix it. now, and be a trader how to fix it. ♪ i'm alix steel. welcome to a special edition of "bloomberg commodities edge." it is 30 moments focused -- 30 minutes focused on the hottest commodities with the smartest voices in the business. our topic today is crude. it has gotten a lot harder for traditional market participants to trade oil.

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. bloomberg "real yield" starts right now. ♪ jonathan: coming up, fueling global growth fears. trouble in paradise. leverage loan funds suffering the biggest outflows on record and the fed 2019 plans in the balance ahead of next week's decision. we begin with the big issue. what does the fed do when 2019 looks increasingly uncertain? >> pause. >> pause. >> the fed is going to pause. >> one-being priced in. >> pricing in one hike. >> there is a debate going on. >> two more. >> two more next year. >> whether this is one more hike or three more hikes. >> i would be pausing until we had a sequence of inflation numbers above 2% at the minimum. >> we have a situation where the fed has reversed course and they have obviously raised rates. the $50 billion a month in the balance sheet is important to markets. >> neutral is not 2.5%. one person at the fed believes neutral is 2.5%. so we are not just below neutral, we are just below the bottom of the range of where neutral might be. >> i am wait

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro. bloomberg real yield starts right now. ♪ payrolls coming up, and missing estimates. investors pricing up fed rate hikes in 2019, inflation expectations rolling over. market volatility and global stock funds facing the first full year about clothes in a decade. we begin with a big issue, the jobs report adding some fuel to the debate. solid wage number was area >> is a healthy report. dark i think this is a solid report. >> the fed wants a soft landing and this is sort of the soft linning report. >> if the fed wants to soften its message in the summer, it sounds like it does, it can use this report to do that. it's worth taking a step back and saying it seems to be different, small business lending is different. it's worth just taking a look at that. >> i would not freeze it as a pause, so much as stretching out those rate hikes. >> the fed is going to reconsider next year and may well move to thoughts down. >> what i'm looking at, i think they are signaling that maybe they will do s

jonathan: from new york city for our viewers worldwide, i'm jonathan ferro. a special edition of "bloomberg real yield" starts right now. coming up, markets drawing attention as the fed keeps the balance sheet reduction on autopilot. doubts increasing on whether president draghi can hike rates before his term ends. and a monster year for leverage loans ending with some serious concerns. we start with the big issue, going into 2019 with one certainty. >> there is significant uncertainty about the path and ultimate destination. >> uncertainty is playing into this in a big way. >> raising of uncertainty. >> uncertainty about the global growth. >> markets have gotten so spoon-fed for so long that any big change in anything upsets them. >> the market is not very high on the fed's list of things to pay attention to. >> certainly not going normal on the yield curve, because the yield curve is upward sloping like 90% of the time. as the curve keeps flattening on us, it is telling us that monetary policy is being too restrictive. >> markets got very used to this ever-

jonathan: luke? luke: i guess you have to be really careful, because there are not many times when credit gives you a negative return for two years in a row. in fact, you would have to look really hard for that to happen in history. yes, event risk will be important, but it is hard to play it from the long side. we would be cautious about that going into 2019 for sure. jonathan: a very sensible, constructive tone from all of you. i want to wrap this up in the rapidfire round. let's get to the first question as we look ahead to the federal reserve decision. can powell deliver a dovish the surprise? gershon: no. kathleen: no. luke: not a surprise, no. jonathan: here is one for you, looking ahead to next year. draghi ecb and mario deliver a hike before he leaves? gershon: he could, but i will say maybe. kathleen: no. jonathan: luke? luke: he leaves in october, so definitely no. jonathan: i have an idea on where you all stand on the following question. i will ask it anyway. the outperformance in 2019. do

jonathan: luke? luke: i guess you have to be really careful, because there are not many times when credit gives you a negative return for two years in a row. in fact, you would have to look really hard for that to happen in history. yes, event risk will be important, but it is hard to play it from the long side. we would be cautious about that going into 2019 for sure. jonathan: a very sensible, constructive tone from all of you. i want to wrap this up in the rapidfire round. let's get to the first question as we look ahead to the federal reserve decision. can powell deliver a dovish surprise? gershon: no. kathleen: no. luke: not a surprise, no. jonathan: here is one for you, looking ahead to next year. can the ecb and mario draghi deliver a hike before he leaves? gershon: he could, but i will say maybe. kathleen: no. jonathan: luke? luke: he leaves in october, so definitely no. jonathan: i have an idea on where you all stand on the following question. i will ask it anyway. the outperformance in 2019

♪ jonathan: from new york city, for our viewers worldwide, i am jonathan ferro, with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, raising the bar ahead of the g20. the u.s. looking for successful talks with china. as the growth outlook stumbles, traders reprice the rate outlook, leaving the fed looking to reclaim optionality. in a world of uncertainty. we begin with a big issue, let's call it "the g2," in argentina. >> everything is at stake. >> hopefully we get some not bad news. >> the thing about a trade war is that nobody wins. in a long-term, we all lose out. >> we are all, in europe, worrying on this battle between china and the united states, which has to stop after a certain moment. >> the whole trade issue is now becoming mixed up with strategic issues. >> trump wants to appear tough on china. so we are not counting on a major breakthrough. but the fact is, this is actually starting to impact sentiment. >> if there was a trade deal with china, it would definitely be better than what we currently have, and i think the market is be

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. bloomberg "real yield" starts right now. ♪ jonathan: coming up, fueling global growth fears. the eurozone. trouble in paradise. leverage loan funds suffering the biggest outflows on record and the fed 2019 plans in the balance ahead of next week's decision. we begin with the big issue. what does the fed do when 2019 looks increasingly uncertain? >> pause. >> pause. >> the fed is going to pause. >> one hike being priced in. >> pricing in one hike. >> there is a debate going on. >> two more. >> two more next year. >> whether this is one more hike or three more hikes. >> i would be pausing until we had a sequence of inflation numbers above 2% at the minimum. >> we have a situation where the fed has reversed course and they have obviously raised rates. it doesn't get as much airtime, but the $50 billion a month in the balance sheet is important to markets. >> neutral is not 2.5%. one person at the fed believes neutral is 2.5%. so we are not just below neutral, we are just below the bott

jonathan: from new york city for our viewers worldwide, i am jonathan ferro. "bloomberg: real yield," starts right now. ♪ jonathan: coming up, payrolls coming in below forecasts and wages missing estimates. investors pricing out fed rate hikes in 2019. inflation expectations rolling over, and market volatility leaving global bond funds facing the first full year of outflows in a decade. the big issue, the jobs report adding fuel to the rates debate. >> the wage number was perfectly solid. >> healthy report. >> this is a solid report that -- report. >> the fed wants to bring about a soft landing. this is a soft landing report. >> if the fed wants to soften its message in december, it sounds like it does, it can use this report to do that. >> it's worth seeing that things are different and it is worth , taking a look at that. >> i would not phrase it as a positive so much as stretching out the rate hikes. >> the fed may well move the dots down. >> what i am looking at, what i think they are signaling is that they will do something later this month, maybe, but

standardt to you by chartered bank. ♪ jonathan: i am jonathan ferro. of this is bloomberg "real yield ." we will get interest rate decisions from around the world including the federal reserve, bank of england, and the bank of japan. we will keep an eye on u.s.-china trade talk and the governmentther u.s. shutdown. still with me, gershon distenfeld, kathleen gaffney, and luke hickmore. a lot of people talking about liquidity, illiquidity -- talk me through why that is so significant at this state of the cycle? gershon: i think we over emphasize liquidity in the short run in general as it relates to the end investor. we talked about having continuous liquidity in etf. most investors should not have data liquidity. a think it hurts. professional managers i want to move their portfolio around, if there is not proper liquidity, it will be costly. jonathan: size matters here? kathleen: size definitely matters here. being nimble is a great advantage. when you are large, it is difficult to make meaningful moves. jonathan: your thoughts on this subject? luke:

jonathan: from new york city for our viewers worldwide, i'm jonathan arrow with -- i'm jonathan ferro. a special edition of "bloomberg real yield" starts right now. coming up, markets drawing attention as the fed keeps the balance sheet reduction on autopilot. doubts increasing on whether president draghi can hike rates before his term ends. and a monster year for leverage loans ending with some serious concerns. we start with the big issue, going into 2019 with one certainty. >> there is significant uncertainty about the path and ultimate destination. >> uncertainty is playing into this in a big way. >> raising of uncertainty. >> uncertainty about the global growth. >> markets have gotten so spoon-fed for so long that any big change in anything upsets them. >> the market is not very high on the fed's list of things to pay attention to. >> certainly not going normal on the yield curve, because the yield curve is upward sloping like 90% of the time. as the curve keeps flattening, it is telling us that monetary policy is being too restrictive. >> markets got very used to this ever-incre

the jonathan have that? admiral winnefeld: when we first took him into a psych ward to detox he said that was the worst mistake we could make. that is a classic symptom of someone in complete denial. it took five days to find a place to take him. he was close to his 18th birthday, so adult places would not take him. places that took adolescence would not take him because he .as almost an adult we were fortunate to find a place. when he got into treatment, he really did well. that first month is rough, detox, denial, i do not want to be here, this is boring. they tell parents, do not respond to them. tell your counselors we are here for you. over the course of 15 months of treatment, and after a year, we saw our son coming back. it takes that long for the brain to recover from the physiological changes that have taken place inside your brain. back, his ambition come we were able to have a conversation with him. it was really neat to see. host: i got to know you a little bit after jonathan passed last november

this is bloomberg "real yield." ♪ jonathan: i am jonathan ferro. this is bloomberg "real yield." it is time now for the final spread. coming up over the next week, after people are done ringing in the new year, the opening day of congress, jay powell will speak. the first u.s. jobs report of 2019. still with us, noelle corum, ira jersery, and tony rodriguez. bloombergsey from intelligence and tony rodriguez. to start off the week of 2019 with jay powell coming up, the most interesting central bank will not be the fed, but the ecb. how on earth does president draghi plan to raise interest rates before he heads to the exit? tony: you are right. he cannot do that. right now, the economy there cannot sustain higher rates. he is going to have a communication issue as well to get the market to be comfortable with what the ecb is going to do. and the ecb is going to have to display patience given what has happened in growth in germany and globally. jon: the best measure of the european economy is the german ten-year. to think about the confidence that we had coming into 2018, that it wo

jonathan: can we get that turned around? possiblehink it is because you will see stabilization in energy prices and global growth. we are not predicting recession. i think that will help a lot. fed backing off. it will take a little steam out of the dollar. one of the largest headwinds to an emerging market. if we can get the dollar stabilized and growth picture to not be recessionary, but just healthy, lower growth, i think those are the ingredients for the emerging markets to stabilize and begin to recover. looking ahead to 2019, we need the final rapidfire round of 2018. quick questions, quick answers. higher or lower by year end 2019? noelle: slightly higher. ira: lower. tony: slightly higher. jonathan: does the curve inverted for the fed hikes again? noelle: no. ira: yes. tony: unlikely. jonathan: looking ahead to next year, a performance in leverage loans or u.s. high-yield? noelle: loans. ira: high-yield. tony: loans. guys, it has been great to have you with us, great to have you with us all year. looking ahead to nex

jonathan: hi, everyone. welcome, i'm jonathan tepperman. editor and chief of "foreign policy" magazine. tonight's panel is a spinoff from the paris peace forum which the french government hosted on armistice day and tonight our mission is to figure out or at least shed some -- shed some light on some very big, very important questions on the theme you see above you. now, i have to start by confessing a failure. i normally like to begin events like this with a joke and i have to say i spent several days struggling to come up with a joke on the theme of how to form multilateralism to form peace and i failed utterly. if any of you have any suggestions during the course of the event, feel free to share. but nonetheless, or perhaps it's because the subject is so important and our mission tonight is a big one. especially because as you all know this is an extraordinary moment in global politics and extraordinary is a very polite word for what's actually going on. multilateralism -- multilateral organizations seem to be faltering, strong men ruler

jonathan: ambassador. ambassador araud: on the forces i i could talk hours because it has been my problem during five years. first, you have to -- the u.n. basically doesn't have a military structure. so there is no strategy command in new york. the forces which we send our forces, which are very like -- >> o a we'll leave the last few minutes of this. the u.s. house coming into session taking up a dozen or so water and health related bills on the calendar this afternoon. they'll come back at 3:00 eastern to begin that legislat

jonathan, laura barron lopez. stay with us. i have questions about melania's trump latest controversy. >>> ivanka trump and the inauguration spending. -morning. -morning. -what do we got? -keep an eye on that branch. might get windy. have a good shift. fire pit. last use -- 0600. i'd stay close. morning. ♪ get ready to switch. protected by flo. should say, "protected by alan and jamie." -right? -should it? when you bundle home and auto... run, alan! ...you get more than just savings. you get 'round-the-clock protection. ...you get more than just savings. - [narrator] meet shark's newest robot vacuum. it powerfully cleans from floors to carpets, even pet hair, with ease, and now for cleaning surfaces above the floor, it comes with a built in shark handheld. one dock, two sharks. the shark ion robot cleaning system. with lower expense ratios than comparable vanguard funds. and we're now offering zero expense ratio index funds. that's value you'll only find at fidelity. ♪ one thing leads another the zip code you're born into c

that goes to jonathan, too, who quite a sweetas kid. why don't we start there. can you tell us a little bit what made him and special? >> sure. jonathan was an amazing young man. he grew up as a younger son of two in a military family. moved around quite a lot. at one point, he was in five different school districts in six years. can imagine what it is like to go to the brand-new lunch room almost every year and the that imposes on a young man. he was quiet. he was kind. he was smart. was very good athlete. a very good baseball pitcher and that and he was quite clever. and as we related that there was one point in second grade. about h. about two weeks after i compound to him what interests is. we got a pone call from the second grade team teacher saying know that jonathan is suppliesselling school to his peers but he is actually lending them the money and charging them the interests to do it. i dip know where whether to be upset or proud, but at one point, one of the teachers joked be careful becauseyon than is refinancing the home loans but was smart and cleve

jonathan: final question. i know you guys cleaning up some fake news.you are close to the president and everyone in the inner circle .is the president still talking to john kelly? larry: you mean the chief? yes, of course he is. jonathan: cnn reporting earlier they are not on speaking terms, that the resignation is imminent. can you clear that up for us? larry: we had a long meeting in the oval yesterday afternoon. the chief was there participating. this president asked his views on some things. the idea they are not talking at least from my vantage discipline not true. jonathan: you are always a great sport.recover so much with you and enjoy having you on the program every single month. larry kudlow joining us from washington, d.c. want to get a check on the markets for you. we are 30 or 40 minutes into the session. equities chipping up as follows as we head to a week of losses.the s&p 500 treading water unchanged.the dow also unchanged . the story in the bond market, yields unchanged at 290 on the u.s. 10 ye

us into this different world view that we're seeing so if we look at indigenous science for instance jonathan an example of how paps and indigenous community might look at fishing and the way the rest of us approach fishing that might be a good way to get people up to speed with what we're talking about can you give us that fishing example jonathan. yes so in my worldview and in a lot of people i work with we're moving away from these ideas of t.k. you know traditional knowledge and common it indigenous science. that's an important distinction i think because this science is still alive today it's not it's from the ancient past of course but it's still alive today some of the things we see now. you know and i point to an example right here in oregon. less than two hundred years ago less a around two hundred years ago lewis and clark came here and in their journals they wrote about the first the first salmon surmounting which during the salmon runs here in the northwest the first process salmon tribal people had selected people to go out and fish that very first because they caught the salmon

us into this different world view that we're seeing so if we look at indigenous science for instance jonathan an example of how paps and indigenous community might look at fishing and the way the rest of us approach fishing that might be a good way to get people up to speed with what we're talking about can you give us that fishing example jonathan. yes so in my worldview and in a lot of people i work with we're moving away from these ideas of t.k. you know traditional knowledge and common it indigenous science. that's an important distinction i think because this science is still alive today it's not it's from the ancient past of course but it's still alive today some of the things we see now. you know and i point to an example right here in oregon. less than two hundred years ago less a around two hundred years ago lewis and clark came here and in their journals they wrote about the first the first salmon surmounting which during the salmon runs here in the northwest the first process salmon the tribal people had selected people to go out and fish that very first because they caught the sal

us into this different world view that we're seeing so if we look at indigenous science for instance jonathan an example of how perhaps as an indigenous community might look at fishing and the way the rest of us approach fishing that might be a good way to get people up to speed with what we're talking about can you give us that fishing example jonathan. yeah so in my worldview and in a lot of people i work with we're moving away from these ideas of t.k. you know traditional knowledge and common it indigenous science. that's an important distinction i think because this science is still alive today it's not it's from the ancient past of course but it's still alive today some of the things we see now. you know and i point to an example right here in oregon. less than two hundred years ago less a around two hundred years ago lewis and clark came here and in their journals they wrote about the first the first salmon surmounting which during the salmon runs here in the northwest the first process salmon tribal people had selected people to go out and fish that very first because they caught the s

david: but to jonathan's point, do we want less -- [inaudible conversations] >> jonathan's crackpot theory that nothing's going wrong, he's not a scientist, he's an investor. david: there are scientists who agree with him. >> jonas, just, you know -- >> jonathan, i already don't have a car, what else can i to? >> last comment -- david: quickly, go ahead. >> china is the problem here and india. the united states could kill our economy by reducing emissions -- david: and china and india aren't signing on -- >> china is tice and growing -- david: not so secret anymore after thousands of pages of it were leaked. how the social media platform was using an outdated and biased manual to block your content. some alarming details coming next. ♪ ♪ ♪ ♪ ♪ ♪ ♪ the greatest wish of all is one that brings us together. the final days of wish list are here. sign and drive off in a new lincoln with zero down, zero due at signing, and a complimentary first month's payment. only at your lincoln dealer. ♪ ♪ david: troubling details out about facebook's massive secret rulebook that they had us

david: but to jonathan's point, do we want less -- [inaudible conversations] >> jonathan's crackpot theory that nothing's going wrong, he's not a scientist, he's an investor. david: there are scientists who agree with him. >> jonas, just, you know -- >> jonathan, i already don't have a car, what else can i to? >> last comment -- david: quickly, go ahead. >> china is the problem here and india. the united states could kill our economy by reducing emissions -- david: and china and india aren't signing on -- >> china is tice and growing -- david: not so secret anymore after thousands of pages of it were leaked. how the social media platform was using an outdated and biased manual to block your content. some alarming details coming next. ♪ the hard work you put into lowering your very high triglycerides with diet and exercise deserves the hard work that went into the science behind vascepa. prescription vascepa. vascepa, along with diet and exercise, has proven results in multiple clinical trials. vascepa looks different because it is different. over a decade of extensive research and develo

share this knowledge that could possibly save some lives or improve at least improve people's lives jonathan there's a big question today still how i have to shoulder in something this is from the well intellectual property organization and that reading we view of the idea that we shouldn't be having to steal other people's notations and cites we should be out of what together so they put together a fictional story of how indigenous communities can walk away with maybe because co-operations what to get to have a look. i organized a meeting and we agreed to talk with the cosmetics company we expressed our concerns their aging cream used our traditional knowledge we also explained how their trademark was given the impression that the cream was an authentic cool and i project benefiting my community this was not the case. after a series of pretty hectic discussions the company agreed to resubmit their pay to trademark applications with a yahoo and only owner. before you all start looking up the yakuza and i tried they do not exist that was an example of the future and what is possible that i wh

jonathan i see your hand i see you shaking your head. do you believe there should be a second referendum. i.d.u. and katherine his sister illustrated some of the reasons in fact she says that the first result the result of the first. the first referendum the she said the first referendum the result needs to be implemented but no one can agree on how that should be done the government has proposed little agreement which she rightly says has been rejected by remain as an leavers but nobody was voting very very few people voting to leave on the so-called w.t. terms or no deal neither the remain campaign nor the leave campaign ever discussed and no deal breaks it it was always assumed that we would have a deal and in fact very leave put on its literature that we could be part of a free trade zone stretching from iceland which in a single market to turkey which is in the customs union so the idea that people are very same simply to leave on w.t. terms is in fact a nonsense and so really we have to settle this before we leave rather than after

know you're allowed to say sell off in a very spirited debate thank you very much jonathan this. and catherine mcbride and thank you too for watching you can see the program again any time by visiting our website which is a dot com and for further discussion go to our facebook page that's facebook dot com forward slash a.j. inside story and you can also join the conversation on twitter handle is a jane side story for me i'm wrong and the whole team here by the now. i'm his story say for the people every week the news cycle brings a series of breaking stories told through the eyes of the world's journalists these two reuters journalists were one of the few journalists in burma that were actually doing investigative work joined the listening post as we turn the cameras on the media and focus on how they report on the stories that matter the man see bias the rights to those stories but then he never publishes those stories they're listening post on al-jazeera. the latest news as a flake's yellow press the bell you know will continue on in july but into next week with detailed covera

>> yes. >> why would jonathan turn on his father and lie? the defense lawyer said it was jonathan, not his dad, who was motivated by greed. if stephen scharf was convicted, his son would get all that insurance money. >> who's the money go to? >> it goes to me. >> in the end the lawyer called stephen scharf's son a spoiled brat. >> that sounds like some spoiled kid. >> who was not a credible witness. in closing, bilinkas insisted this wasn't a murder case, just a sad story about a woman who tumbled drunkenly to her death. >> this case is an accident, nothing more, nothing less. >> soon it would be in the hands of a jury. >> coming up -- >> it was the light bulb. you couldn't help but think, hmm, that's interesting. >> the jurors speak. what would they decide? >> stephen, did you kill your wife, jody? >> the verdict. -♪ he's got legs of lumber and arms of steel ♪ ♪ he eats a bowl of hammers at every meal ♪ ♪ he holds your house in the palm of his hand ♪ ♪ he's your home and auto man ♪ big jim, he's got you covered ♪ ♪ great

jonathan: let's open things up. when i call on you, wait for the microphone and tell us who you are. on my left, in the back. yes, the microphone is coming to you. >> my name is charles wesner. i am with, but not speaking on behalf of, of georgetown university. and i am a little troubled, because it seems to me that there is some handwringing here. i am interested in your reaction. in both trade and energy and security -- in secret, this president, who we may not love, he said the same thing the last four or five presidents said. he has not renounced article five. we are not out of nato. certainly the pentagon is not. you look at energy and we are so kyotoe are closer to the requirements than the people who signed up. germany has gone in the opposite direction. iran continues to sit on their nuclear legitimate, very happily. but we have made more progress than most other countries. perhaps denmark has done a little better. and if you look at trade, uh, when you say that we should coordinate with the europeans. i wor

>> yes. >> why would jonathan turn on his father and lie? the defense lawyer said it was jonathan, not his dad, who was motivated by greed. if stephen scharf was convicted, his son would get all that insurance money. >> who's the money go to? >> it goes to me. >> in the end the lawyer called stephen scharf's son a spoiled brat. >> that sounds like some spoiled kid. >> who was not a credible witness. in closing, valinkas insisted this wasn't a murder case, just a sad story about a woman who tumbled drunkenly to her death. >> this case is an accident, nothing more, nothing less. >> soon it would be in the hands of a jury. >> coming up -- >> it was the light bulb. you couldn't help but think, hmm, that's interesting. >> the jurors speak. what would they decide? >> stephen, did you kill your wife, jody? >> the verdict. when "over the edge" continues. s i'm not picking it up. you pick it up! i'm not picking it up. i'll pick it up! they're clean! ♪'cuz my hiney's clean.♪ ♪oh yeah i'm charmin clean.♪ charmin ultra strong just cleans better.

jonathan h. ward take us on a powerful look at a shared national disaster and its legacy. their book bringing colombia home the untold story of lost space shuttle and crew is story of the colombia disaster and recovery and inspiring message it holds. michael was the last launch director for the space shuttle program at nasa's john f kennedy space center and responsible for overall shuttle launch countdown activities until the end of the program in 2011. in november 2004 awarded the prestigious award. jonathan h. ward works to bring the thrill of space program to life for general public as solar system ambassador and as a frequent speaker on space exploration topics to interest groups and at regional conferences, previous two books are, rocket launch, the nuts and bolts of the apllo moon program at kennedy space center and countdown to moon launch, preparing apollo for historic journey. please help me in welcoming michael lineback and jonathan ward. >> thank you very much. let's see, i think i wil

>> yes. >> why would jonathan turn on his father and lie? the defense lawyer said it was jonathan, not his dad, who was motivated by greed. if stephen scharf was convicted, his son would get all that insurance money. >> who's the money go to? >> it goes to me. >> in the end the lawyer called stephen scharf's son a spoiled brat. >> that sounds like some spoiled kid. >> who was not a credible witness. in closing, bilinkas insisted this wasn't a murder case, just a sad story about a woman who tumbled drunkenly to her death. >> this case is an accident, nothing more, nothing less. >> soon it would be in the hands of a jury. >> coming up -- >> it was the light bulb. you couldn't help but think, hmm, that's interesting. >> the jurors speak. what would they decide? >> stephen, did you kill your wife, jody? >> the verdict. when "over the edge" continues. hey. i heard you're moving into a new apartment. yeah, it's pretty stressful. this music is supposed to relax me, though. ♪ maybe you'd mellow out a bit if you got geico to help you with your rent

jonathan hoenig capitalist pig hedge fund. todd horowitz i feel like he is fox contribute to, he is on just as often. bubba trading show host. start with you. what is causing this volatility in "barron's" over the weekend there was article saying this was zombie's market. investors react to the headlines, adding to that roll roll -- volatility. todd. >> i don't think there is any volatility. 20 year moving average this is normal volatility. as floor trader this is the volatility we trade in forever. the volatility got crushed because everybody trying to manipulate the markets. finally when the markets move with a free market sense you have some volatility which is more than natural for the markets. i don't put too much volatility. volatility should be in the mid 20s. that is where it belongs. kristina: just to point out -- >> 25, 28. kristina: right now? >> if it gets to 50 you should worry about it. in mid 20s it is normal volatility. kristina: jonathan. >> i will venture a guess. this is lack of leadership. higher day for th

charlie and jonathan, thank you, both. stay with me. >>> coming up, president trump back at home at the white house after an unannounced trip to iraq. and how will what he said play on to the world stage. stage.s research hospital. st. jude freely shares our research and discoveries to help save kids with cancer everywhere. would you like a finger sandwich? of course whose fingers? give thanks for the healthy kids in your life, and give to those who are not. donate now at stjude.org or shop wherever you see the st. jude logo. ♪ ♪ (volunteer) hey. (old man) come on in. (volunteer) you taught me the rules. (vo) you do more than feed seniors when you share the love. you feed souls. get a new subaru, like the all new forester, and charities like meals on wheels can receive two hundred and fifty dollars from subaru. (avo) get zero percent during the subaru share the love event. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with relia

jonathan i see you shaking your head and i see you shaking your head. do you believe there should be a second referendum. i.d.u. and katherine his sister illustrated some of the reasons in fact she says that the first result the result of the first. the the first referendum the she said the first referendum the result he spent meant it but no one can agree on how that should be done the government has proposed little agreement which she rightly says has been rejected by remain as an leavers but nobody was voting very very few people voting to leave on the so-called w.t. terms or no deal neither the remain campaign nor the leave campaign ever discussed and no deal breaks it it was always assumed that we would have a deal and i thought very leave it on as literature that we could be part of a free trade zone stretching from iceland which in a single market to turkey which is in the customs union so the idea that people are very same simply to leave on w.t. terms is in fact a nonsense and so really we have to settle this before we leave rather than after i

david: to jonathan's point, 7 billion dollars that we've taken in, in tariffs, that is small, is it not compared to all of the dislocations. the supply chains in world have been upset by these tariffs. have great cause, and american steel companies are not rain to do that -- are not able to do, that american steel is expensive now. >> not only do you have all of this coming at expense of americans who pay for these taxes, his whole point about wealth, you have to remember we have a $20 trillion gdp, we have capital coming in, a service-based economy, we're not getting hurt by trade in the world. we're getting hurt by is the tariffs, and companies keep not investing because of the tariffs, the direct impact will be greater and greater. >> trade is win-win, companies that have been beneficiary of the tariffs, their stocks among worst, alcoa a new 52-week low today, and auto companies, whose bump of short lived, to comment about financial stocks, that is what worries me about today's market action, the financials were so weak, citi group, goldman sachs at 52-week lows, this is troubling mo

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

we will get more of jonathan's interview with larry kudlow. >this is bloomberg. ♪ guy: time now for the stop of the hour -- stop and the hour. we're looking at broadcom. the chipmaker is going against the recent trend for apple supplies and rallying after earnings below data to get the credit for the rally. let's find out more details. here is taylor riggs. broadcom is a key apple supplier. we have heard bad things recently from all of those apple suppliers giving the slowdown in sales. broadcom differentiating themselves and a really upbeat sales forecast for 2019. continue to grow year-over-year on the topline line revenue growth. they are forecasting .4 $.5 $4.5on in be analyst -- billion and beat analysts forecasts we have a quote saying they expect moderation of the iphone sales but continued robust demand from cloud providers. it is the cloud providers and data centers from google and amazon that are the future of their growth. guy: taylor, other chipmakers have not had such a good run and have been struggling and the iphone sales stor