i think people are going to continue to move into treasury bills. i spoke to someone who said by the end of the year the long and will start to look attractive then for treasuries because fed will hopefully be slowing down the pace of rate increases and that will start to look attractive. caroline: what sort of buyers are we talking about at the moment? >> some of that you have longer-term investors. the money market funds are continuing to buy t-bills. this year we reintroduced a two-month bill and they are really loving that. that hits the sweet spot of the curve for them. pensions and insurance companies are going to want the duration. these are the kinds been investors we are talking about here. romaine: what about foreign investors? asit is still holding up they get nervous with what's going on in washington and the general health of the u.s. economy we might see some pullback. i think nothing is flashing warning signs. it's going to come down to the dealers and we are really going to see that in the funding markets. if they start stepping in t

is mnuchin coming in there and replacing with a treasury put? if it's his estimation needed, that's his call right there. the means by which he does that, it's unclear because as far as i can tell, the federal reserve is the only one with the means to come in and provide emergency liquidity. i suppose there are some funds out there, but typically, it would be done by the federal reserve either by cutting sbes rates or providing lending at the discount >> all right final ly, that does bring us to the interview with williams on friday steve and the very short rally we got subsequent to that. sarah brought up the turnover in voting members does the picture change to a large degree >> i don't think so. i'm sure sa rah is aware of this you've had dubs that have become hawk iish at the idea of the requirement or need of the economy for emergency federal reserve interest rates has really faded to the background that's not really the sense right now of many on the federal reserve. guys like williams himself who was preimminent, pretty strong on the need

treasury? today of all days, u.s. treasury auctioning bills. we're seeing more and more supply come into the market. that must have as much an effect on borrowing costs assist indeed the fed had, to a certain extent. >> well, you have to country about the contributors to g.d.p., right? i think most importantly, if we begin to look at housing starts, lending, everything from auto loans to personal loans, what we're seeing is that the average consumer is being impacted by the decisions that are being undertaken at the moment. and when the average consumer across the united states begins to feel a concern about their ability to spend freely, then that's going to impact everything from retail to consumer goods and the like. so it's a chain reaction all the way through. and i think we'll be able to tell a lot more based on how the holiday sales turn out this year. caroline: great perspective. we thank you, founder and c.e.o. of m.g. capital. great to get your perspective. now march on treasury treasury steven mnuchin, he's also saying he's been spea

he's in support of the treasury secretary. the idea there is some big investors -- yes, peltz has met the president and has ties with the white house, he does not agree this is out of line for the treasury secretary to be calling about bank ceos talking about conditions and the economy. he says this is the sort of thing that big invests want to see the treasury secretary doing. >> absolutely. it's all about messaging it was just poor messaging that's what it was we just didn't need to come in today on a holiday shortened day and week where many people are not even in the office and you get this big headline. in addition the government shutdown over the weekend, partial shutdown over the weekend on top of this other stuff. it's just a fragile market, but it's the messaging mnuchin, i think, he should be doing this >> i guess investors are not losing faith in this >> right fine >> they're putting his name out there saying i back the treasury secretary. >> i get that. but if we are seeing this selloff and it's not fair to blame t

my biggest concern is who is advising the treasury secretary? i was talking about the market desks out there. people are supposed to be around to tell him that you have a liquidity problem and you need a statement. then also people are out there who should be telling him you issue a statement like this, people will think there's some problem out there that people don't know what do the bank ceos say after being asked these questions? >> from reports that i read, they were a little bit perplexed by the call, but they did say there is ample liquidity of course there is because nobody questioned its existence. >> the big question i had when i was talking so only ceos, there was an effort to play don't call and the statement. they were perplexed about the statement, they thought the statement didn't reflect the conversation on the phone. not to say there wasn't a conversation about liquidity, but that wasn't the emphases of the phone call >> yeah. it's hard to know precisely what was discussed. the weird thing to the bankers is there was never a que

so aid, treasury, those, too. and other parts of the administration, because as we look at how they work, it actually ends up involving the commerce department, which benefits american businesses. for example there is a pretty robust interagency effort that in fact is at cabinet level meetings on the point that you raise. >> will the conversation that we have for bipartisan support of avoiding corruption through the multilateral agencies, i thought that one of the most significant contributions of the bush 43 administration was creating a millennium challenge approach and i wondered if, in your review, if the trump administration was following up on that effort to really reward countries that have low corruption in terms of that effort on a bilateral basis? >> the mcc board just met yesterday and so it does seek to carry out the mission that you described, to reward or involve countries or governments which are moving forward in a non-corrupt way and so, what it does is review applications by various countries and

take us through first of all the treasury secretary's call with these ceos. reporter: christmas eve should be a nice day where you roll up the computer, kind of see where the day takes us. not today, though. the president once again going after the federal reserve. he sent out this tweet just a little while ago in which he said the following. quote, the only problem our economy has is the fed. they don't have a feel for the market, they don't understand necessary trade wars or strong dollars or even democrat shutdowns over borders. the fed likes a powerful golfer who can't score because he has no touch. he can't putt. this of course comes after the report over the weekend in which there were reports out there that the president had been discussing potentially the job status of jay powell, treasury secretary steve mnuchin had to take to twitter over the weekend and sort of tamp that back, at least brush it back. here's what mnuchin said. quote, i have spoken with the president and he said quote i totally disagree with fed policy. i think the increasing of inte

treasuries leading u.s. efforts in the international working group on export credits and working with the inner agency on reforms in connection with the xm bank to pursue relevant reforms. the imf requested a build-up in it quota resources and claims it needs to be the center of the global financial safety net. we will be seeking a constructive size for imf resources that contributes fully to this stability of the international financial system but recognizes that the imf is just one part of the global financial system and its various support mechanisms. we are o poelzpposed to changes quotas given the imf has ample resources to achieve its mission, countries have considerable alternative resources in the event of a crisis and the postcrisis financial reforms have helped strengthen the overall resiliency of the international financial system. we've stepped up our engagement in shaping imf program design. we prefer programs with design elements that prioritize the potential for broad based growth and allow co

treasury secretary steve mnuchin trying to calm the markets in wall street. meantime, more questions from the president about the future of jay powell. night, theit last headline was the mnuchin talks to banks. we're ok. that wasn't a problem, but should it be? look, the s&p futures are inching their way higher, the s&p looking at its worst week since 2011. take a look at euro-dollar, a little higher. the question is where does the dollar go? at 2.78.ear yield is we give $40 billion coming this sincethe biggest auctions 2010. watch that. crude it down .4%. all i could do last week was check the price of crude. what is happening? >> it was a significant move, and it continues to move lower. throughout asset classes, the key levels are being taken out. >> 100%. that's the question for me. now it is time for a bloomberg first take. we are joined by a bloomberg reporter. welcome, thanks, good to see you. one of our top stories is treasury secretary mnuchin's statement, saying the ceo is confirmed, ample liquidity available, business markets and all other market o

these new sanctions announced by the treasury department indicate that the treasury department is not yet finished punishing russia for its 2016 election interference. as i'm reading now the bloomberg piece, it appears that still subjectis to these sanctions. what has changed here? sanctions --en to assuage the treasury department? >> trying to figure out a way to punish the company without necessarily putting them fully out of business, there were some negotiations about whether mr. pasca would have to relinquish some of his ownership. trying to find tune the sanctions power they have without necessarily putting the company out of business. what we have seen from the announcements today, the treasury department still has some problems and issues with not only him but some of his associates. more information has come to light over the election meddling efforts that took place in 2016. that is part of the reason the treasury department has decided to put on new sanctions on some individuals while also trying to taylor and fine-tune the sanctions in place before this tailorcement today

people are buying treasuries. why do you buy treasuries? well, guess what happens when you buy treasuries. lot of people are pricing in a global recession so there's a flight to quality. liz: hold on, charlie. >> it's a different type of flattening of the yield curve than we've had in the past. liz: we are just hitting session lows for the s&p, down about 90 points, 9-0. we just had tim hockey here of td ameritrade. he struck a very calm note, listen, as you want leaders, and business leaders to strike, but as we see this happening, we've got to start hearing about some funds maybe really struggling, some hedge funds -- >> remember, we had a 600-point -- that's a great point, that when markets get incredibly turbulent, hedge funds start to implode. i think we don't -- we're not there at the panic button just yet. we may be soon, but here's what i would say. remember, the markets have been dealing with trump trade policy literally from the minute the tax cuts were passed, he started going very protectionist. so it's kind of like in the ether

the data behind treasury supply, what that means for u.s. nominal treasury rates is murky, but it -- but i would have to agree that it is occupying space that could otherwise be making its way into other risk assets. jonathan: at the turn of the year, we had all of the conditions to fuel demand for leverage loans, and we had the supply that came with it. we end the year with a lot of people in fixed income seriously questioning that universe. brian, big outflows from etf's that track leverage loans, the cash is flowing out. typically, when we talk about flows, we talk about them confirming a trend. something we have seen already. is there any signal in this for you? brian: we have seen several periods where high-yield spreads essentially have widened out throughout this cycle. i think the question here is, does this spread, right? does it remain in the energy names and lower credit quality? obviously, we are seeing retail move out of a lot of these yielding assets that they had purchased earlier in the cycle when rates were much lower. so th

the data behind treasury supply, what that means for u.s. nominal treasury rates is murky, but it i would -- but i would have to agree that it is occupying space that could otherwise be making its way into other risk assets. jonathan: at the turn of the year, we had all of the conditions to fuel demand for leverage loans, and we had the supply that came with it. we end the year with a lot of people in fixed income questioning that universe. brian, big outflows from etf's that track leverage loans, the cash is flowing out. typically, when we talk about flows, we talk about them confirming a trend. something we have seen already. is there any signal in this for you? brian: we have seen several periods where high-yield spreads essentially have widened out throughout this cycle. i think the question here is, does this spread, right? does it remain in the energy names and lower credit quality? obviously, we are seeing retail move out of a lot of these yelling assets -- yielding assets that they had purchased earlier in the cycle when rates were m

twos, tens, and 30 year yields in the treasury market. yields up just a single basis point on a two-year. yields down on a 10-year by a couple. really muted price action going into a big weekend. we look at the week ahead featuring chairman powell and the u.s. jobs report. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. in the next week, we have the g20 dinner between president trump and president xi. jay powell testifying before congress. not many people talking about that. a crucial opec meeting, and to wrap up the week, the u.s. jobs report. still with me, priya misra, krishna memani, and jim schaeffer. it is almost like the g20 has suffocated the whole agenda. there is a lot going on next week. priya: the uncertainty around trade is dwarfing it. the report should been a big deal, but we know the u.s. economy is doing ok. i don't even know if you see the slowing in the economy we are expecting showing up in payrolls. it has to be forward-looking exp

what are we hearing from the present -- the treasury secretary? kevin: a big shout out to print colleagues who landed this interview with treasury secretary steven mnuchin. says the-- mnuchin market structure of equity markets is going to be a key focus for next year. particular that they are going to study the issue of increased market volatility for next year. coming a big headline out of this interview with treasury secretary steven mnuchin that they will study the issue of increased market volatility for next year. we should also note he says that housing reform, something he is familiar with, is going to be another key focus for him with this new congress into the next form. type ofnd freddie, any attempt to get them out of that eludedatorship has congress on how to get bipartisan compromise through. and finally, he declined to comment on that policy, citing fomc meeting. the treasury secretary wants to be cautious with that fed meeting having. he also called the yield curve unreliable gauge of economic outlook. thebottom line is he said mark

where treasuries have been this week. twos, tens, and 30 year yields in the treasury market. yields up just a single basis point on a two-year, to 2.81. yields down on a 10-year by a couple. really muted price action going into a big weekend. after this week;s comments from chairman powell, we look ahead to his speech next week, nd the u.s. jobs report. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. coming up next week, we have the g20 dinner between president trump and president xi. plus, fed chair jay powell testifying before congress. not many people talking about that. a crucial opec meeting, and to wrap up the week, the u.s. jobs report. still with me, priya misra, krishna memani, and jim schaeffer. priya, it is a must like the g20 suffocated the whole agenda. there is a lot going on next week. priya: it is. but i think the uncertainty around trade is dwarfing it. the report should been a big deal, but we know the u.s. economy is doing ok. payroll often is a coincidental or lagging i

i always made it in treasuries. treasury yields go down genetically. not so easily this time. one of my biggest hits was in two years, in the fall of 2000. they with down to 1.5. now i'm starting with them at 268. i'm long treasuries. two years, five years, 10 years. i have been for a bit. i don't like to level. because of everything we have been talking about, i like the risk rewards. if the fed makes a policy mistake, it is not inconceivable to me at all that the two years backed 50 basis points in a couple of years. they are doing all this crazy nonsense again. qe. the whole gambit. rates at zero. loblaw block. bla, bla. manus: i hope you got the message there. he likes treasuries. i we watched some of that. i think it's interesting. rates were at 6% in 2000. could you imagine can -- mortgage at 9%? he likes them. we haven't inverted. he doesn't call recession. nejra: he says, even at these levels. you are pointing they were at 6%. if you look on a global scale, you have 10 year bund yields a 24 basis points. we have the japanese headed toward zero. what he is saying does m

treasury. year, $1.3ndar trillion raised in net new cash. over in corporate, high-yield issuance drying up completely. and massive outflows and high-yield funds. in leverage loans, a surge of roughly $800 billion in new loans issued, even as the price index tumbled to close the year. still with me, george gonclaves, scott kimball, brian rehling. george, let's start with where the issuance has come from and what it has meant to the broader market. what does it mean for crowding out other asset classes? george: you took the words right out of my mouth. it has been a crowding out. there is more to come next year. it's not going to end. 2019, a similar story. lower corporate issuance, largely because there is less rollovers, but equal rollovers but less overall issuance and the treasury market is not picking up a lot of that space. jon: we had em central bank governors complaining about the prospect in the spring, of that extra issuance sucking up dollar liquidity, do you still see that being a big problem? brian: sure, it is going to continue t

the data behind treasury supply, what that means for u.s. nominal treasury rates is murky, but it is occupying space that could otherwise be making its way into other risk assets. jon: at the turn of the year, we had all of the conditions to fuel demand for leverage loans, and we had the supply that came with it. we end the year with a lot of people in fixed income questioning that universe. brian, big outflows from etf's that track leverage loans, the cash is flowing out. typically, when we talk about flows, we talk about them confirming a trend. is there any signal in this? brian: we have seen several periods where high-yield spreads have lightened out. throughout this cycle. i think the question is, does this spread remain in the energy names and lower credit quality, we are seeing retail move out of a lot of these yielding assets that they had purchased earlier in the cycle when rates were much lower. the question is whether this is the beginning of the end or this is just another event in a series that have impacted credit this cycle. i

twos, tens, and 30 year yields in the treasury market. yields up just a single basis point on a two-year. yields down on a 10-year by a couple. really muted price action going into a big weekend. we look at the week ahead featuring chairman powell and the u.s. jobs report. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. in the next week, we have the g20 dinner between president trump and president xi. jay powell testifying before congress. not many people talking about that. a crucial opec meeting, and to wrap up the week, the u.s. jobs report. still with me, priya misra and krishna memani and jim schaeffer. it is almost like the g20 has suffocated the whole agenda. there is a lot going on next week. priya: the uncertainty around trade is dwarfing it. the report should been a big deal, but we know the u.s. economy is doing ok. i don't even know if you see the slowing in the economy we are expecting showing up in payrolls. it has to be forward-looking e

where treasuries have been this week. twos, tens, and 30 year yields in the treasury market. yields up just a single basis point on a two-year, to yields 2.81. down on a 10-year by a couple. really muted price action going into a big weekend. from chairmank powell, we look ahead to the week. and the u.s. jobs report. this is "bloomberg real yield." ♪ ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. coming up next week, we have the g20 dinner between president trump and president xi. chair jay powell testifying before congress. not many people talking about that. a crucial opec meeting, and to wrap up the week, the u.s. jobs report. still with me, priya misra, krishna memani, and jim schaeffer. priya, it is a must like the g20 suffocated the whole agenda. there is a lot going on next week. priya: it is. but i think the uncertainty around trade is dwarfing it. the report should been a big deal, but we know the u.s. economy is doing ok. is a coincidental or lagging indicator. i don't even know if you see the slowing in the eco

the data behind treasury supply, what that means for u.s. nominal treasury rates is murky, but it i would -- but i would have to agree that it is occupying space that could otherwise be making its way into other risk assets. jonathan: at the turn of the year, we had all of the conditions to fuel demand for leverage loans, and we had the supply that came with it. we end the year with a lot of people in fixed income questioning that universe. brian, big outflows from etf's that track leverage loans, the cash is flowing out. typically, when we talk about flows, we talk about them confirming a trend. something we have seen already. is there any signal in this for you? brian: we have seen several periods where high-yield spreads essentially have widened out throughout this cycle. i think the question here is, oes this spread, right? does it remain in the energy names and lower credit quality? obviously, we are seeing retail move out of a lot of these yelling assets -- yielding assets that they had purchased earlier in the cycle when rates were mu

on the treasury side of things, a slight uptick to yields on the ten-year treasury note 2.89%, the last trade there. still below 2.9. the two-year treasury note yield, 2.76% >>> we are counting down to the big jobs report. that number hits in less than three hours from now let's bring in danielle dimartino-booth. it's the front page of the "wall street journal," fed may slow interest rate hike pace. is that right? should they be slowing things down in an economy that's growing apparently at 2% to 4% with an unemployment rate at the lowest levels since 1969 >> we have stories being planted in the "wall street journal" that turn markets around the fed should be considering a pause. today's unemployment report, today's jobs, non-farm payroll number will be the most backward looking lag of all economic data that's something you learn your fist day at a central bank the most lagging of all indicators is that jobs report we've seen in jobless claims, they've came off their lows of 2001,000 201,000. we were supposed to see a bounce back yesterday we didn't. we've seen the average layoffs of 35

it follows calls made by the us treasury secretary, steven mnuchin, to the heads of america's six largest banks in an attempt to reassure investors after a bad week for wall street. 0ur correspondent samira hussain is in new york. samira, this was an unusual move by mnuchin, and it appears to have backfired. indeed, it is absolutely a rare move for a us treasury secretary to make it public that he in fact spoke with america's financial institutions. in doing so, he wanted to make sure that these banks have enough cash on hand to shore up the us economy and the financial market in the event that they need that kind of support. now, in doing that, however, he didn't really reassure financial investors. in fact, didn't really reassure financial investors. infact, he didn't really reassure financial investors. in fact, he further stoked their fears, as evidence by

the treasury boardroom can still be seen. if you go to horse guard's parade in london and look southward towards downing street you see the old treasury building standing with the treasury boardroom standing behind the big windows where lord north signed the export license on august 17, 1774. from one point of view it's clear who is responsible is lord north. it's not quite as simple as that because there was a whole series that converged to produce the decision to send the tea. i'm just going to run through what those were. the book goes into it in some detail because the boston tea party viewed from a better perspective is right in the middle of the book, the central of the book but i'll try to summarize the points involved. the basic issue is the british empire in 1972, 1972 through 1975 were based on two empires superimposed on each other. there was a political empire which consisted of flags on the map, colonial governors, buildings like the old statehouse in boston coat in arms, flags, soldiers and so on. that was the p

stocks monday despite the efforts of the treasury all three major indices closed down just under three percent in the shorter trading day on sunday treasury secretary even called the leaders of six of the us his biggest banks and was assured that they could survive the decline trampas blame the federal reserve for the market turbulence. for us from new york. the market selloff continued on monday and there's a whole host of factors on what's driving it but it's turned into unpredictability and uncertainty in the markets right now that are really driving this there's uncertainty with the government shutdown in washington with the federal reserve chairman jerome powell and president trump's threats at least to try to remove him from his job something that the president does not have power to do nevertheless the fact that he's publicly discussing this or at least with his advisers has really been a lot of uncertainty in the markets and also the market downturn in the china trade war in terror of back and forth between the united states and china at all of this and this is why you're seein

anyone who covers the treasury department or has for some time knows that the treasury secretary regardless of whether it is a democratic or republican administration, called bankers. i think what is interesting is how aggressive this administration has become within the last 72 hours in addressing this communicative criticism that it has faced, not from the media, but the markets. morning withthis kevin hassett, the chairman of the council of economic advisers, was a different town. it was a town we saw from president trump. from your reporting, do you think the shift in town has done the job in resetting what has gotten away from them a bid on christmas eve? resetting is a strong word. as you can see today, the stocks are up. did it help a little bit? yes, of course. at the same time, one of my favorite pieces of commentaries i got in the last couple of days is, if i was that worried about the market, i would be calling ray dalio, warren buffett, i would not be calling the ceo of every major bank. what we are worried about here are the buyers and sellers in the market. and the one-way mov

treasury secretary? it does give us something to talk about though. that the president sort of gauges the stock market as a report card on how he's doing as president. he doesn't like it when it goes down do you at some point actually have to hear from him what the heck are you doing stock market is going down does he blame you when the market doesn't go up have you heard anything like that i read that that happened. >> let me just say that's absolutely not the case. i speak to the president almost every day. we speak on different issues theed. understands. he was a great businessman before this. of course he understands z these stock market volatility ppz now, the z faktz that z these market is u -- is up since the election, of course the president understands the market goes up a thousand, the market goes down a thousand. we do want to create great opportunities for u.s. companies and u.s. workers and that's what we've been doing and will continue to do. >> we've also heard he views some of the gains in the market not necessarily as house money, but

♪ caroline: these are the top stories we are covering -- steve mnuchin says markets are stable, the treasury secretary called wall street banks to confirm the liquidity and contain the fallout for tensions between the fallout in the fed. china announces another round of tariff cuts, lowering impact -- import taxes on more than 700 goods and what a good me to the global economy. some opec members and that production costs could deepen and be extended. equities were hurt with the worst selloff on record. right now, let's check in with the u.s. markets. >> good morning. afternoon, markets are under pressure today. the dow jones and s&p 500 and nasdaq are down more than 1% after last week, they closed their biggest weekly loss since 2011. the s&p 500 is down for the fourth consecutive day of more than 1%. let's talk about the government shutdown. do the market -- does the markets really care? chart here shows the history of the shutdowns in 2018 and what you can see is only just the markets brushed it off. 1/10ly cost the government of a percent every week they were shut down. we don't actually

a partial government ls to wn, treasury c banks to reassure the investors and the president continues to attack the fed. a all creatingangover for stocks. ut> down to the wire. shoppers are stillhere tatting last minute gifts. that's making reers happy for the holidays. all that and more for this monday, christmas eve, 2018. >>> we do bid you good evening. welcome. sue has the night off. for those on wall street expecting sant today, it was not meant to be. astead we got the grinch. and growling beathe s&p 500 is now 20% below its most recent high which defes a bear market. we got the worst christmas eve performance for the dow and the .&p turmoil in washington continues to hangver themarkets. we'll have more on that in just a moment. but let's take a breath and look at the day's final numbers. the dow lost 653 points. that was the l of t day. it closed at 21,792. the nasdaq fell another 140 points today. and the s&p dropped by bob pisani tells us if there's any hope of a last minute st. nicke fro >> no doubt investors will find it tough to get into the holiday spirit this year, but c

treasury treasury treasury and treasury and so americans are tell you and they're doing war games they've got jets with the chinese flags the stuff on the on the tail wind wings and things are they're out there doing the mock wars well a few things first of all we're called yankees because we used to i think it was the dutch you named us the yankees and yankees basically stole all the intellectual property of the european empires of the time secondly our intellectual property is very basically violent it's weaponized and it's it has enabled a class of people it's a equivalent basically our printing us dollars and printing copyright has allowed has created a class of these oligarchs. you have the state department and the u.s. department of defense on their side and thirdly the cable news and all of our elite sort of basically progressive they call themselves progressive but they'll say that we have no empire we don't behave like this we don't use force to you know basically exact advantageous trade deals for ourselves we're just like hollywood's just superior and that's why we're wealthy i

i think the unprecedented press release that we saw from the treasury where the treasury secretary steve mnuchin is calling around to banks, essentially checking in to say hey, is everything okay, is a reflection of the fact that people inside the government, if not trump himself, understand how serious a threat that is. i think that's woken up a lot of people who might not have been quite as public in their criticism before. now they are willing to speak up and say, hey, this is not something that we can live with. >> which will be fascinating to see how much we see and hear from them because, jonathan, there's reporting from "the new york times" and the washington post about how this president is increasingly isolated, tweeting 23 times since the shutdown. holed up in the white house, watching a lot of tv. we know he has said multiple times, as recently as less than a month ago, he goes with his gut because his gut often times knows more than a lot of other people. >> yeah. i was in the capital on friday, guys, talking to members of congress. i can't recall a time where in the first tw

but what is actually in the treasury. don't trust the state it's mostly made up of liturgical objects objects made in the middle ages that the field of function in the church. during services for example or things that were perhaps used display normal aerated during mass and given that it can toggle in today the treasures are displayed in a cabinet seen in the for viewing purposes only in the google isn't the treasure is comprised of a range of smaller and larger items is there perhaps one thing that stands out companies on the not really because even some of the smaller objects have a great history lesson that was abusive to the most important items are made from very different things that have been put together the diligence to go. as it still isn't so much the samwell gospel for example it isn't a limited work and that later received the cover of gold the hudspeth and good and i'm glad that cover also had materials worked into it and dignified than it will and used to give money. away to troll and. in the open the book

but what is actually in the treasury. don't fence the students mostly made up of liturgical objects objects made in the middle ages that the field of function in the church. during services for example or things that were perhaps used displayed or miss rated during mass given that. i wouldn't today the treasures are displayed on cabinets seen in the first viewing purposes only in the google isn't the treasure is comprised of a range of smaller and larger items is there perhaps one thing that stands out. that really because even some of the smaller objects have a great history lisa was abusive to the most important items are made from very different things that have been put together to do it and. is it still is and some of the samwell gospel for example is an elimination work and that later received the cover of gold the hudspeth and good and i'm glad that cover also had materials worked into it and dignified than it will induce for. twelve years and as an eagle not a book like this has a history stretching back hundreds

today they voted to limit debate on the deputy treasury secretary. the senate will take a final vote on his nomination. also on the agenda possibly this week, funding the government past the december 21st deadline. you can follow live senate coverage on c-span2. >> when the new congress takes office in january, it'll have the youngest, most diverse freshman class in recent history. new congress, new leaders. watch it live on c-span starting january 3rd. >> sunday night on "q&a," -- >> this american nazi party came to a rally at madison square garden, and in the middle of new york, stormtroopers giving the nazi salute with a swastika next to a picture of george washington. there was a very active american fascist movement in the '20s and the '30s, earlier than people think, that it was associated with the phrase america fist. >> university of london literature professor sarah churchwell looks at the history of the terms america first and the american dream in her book, "behold america." sunday night at eight eastern on c-span's "q&a." >> steve dennis

treasury yields it's a big deal. it's the reason why we're seeing such a significant selloff in stocks and why we're seeing the u.s. dollar start to turn around and really present itself with some serious weakness. i think the slide in yields indicates the fed's concerns about global growth. the fact that inflation globally is starting to ease. as a result of that many central banks may be thinking about raising interest rates more aggressively like the bank of canada yesterday or the federal reserve's 2019 tightening cycle. we have to pare back those plans and expectations all of that is reflected in the move in yields and is translating to weakness in the u.s. dollar and currencies >> as we talk about things playing out with the u.s. equity markets, the treasury markets, how much of that is factored in by the stuff happening now in europe we know we have a very contentious situation with brexit and how we will proceed with that going forward. how much of that european story is part of the overall risk sentiment in

,hat is a different thing from i support my treasury secretary as a treasury secretary. marty: donald trump has not been shy about overstating the qualifications of people that he likes. it is not like he is the greatest treasury secretary in 200 years. he was kind of touching the bases, it was not a full throated support of the secretary. if i were steve mnuchin, i would be a little worried. alix: who would ever want to take that job again? marty: it is pretty nice having your signature on the currency. there is a real status to being treasury secretary. in this administration, the treasury secretary has also taken on a roll of secretary of state in some ways with the imposition of sanctions, the state department being in the background. that has been at the forefront of what constitutes trump's foreign policy. alix: where are we in terms of domestic policies and the shutdown? call it whatever you want, he said, just get it done. think we have to prepare ourselves for a long shutdown. i don't think either side will move. the democrats definitely will not allow donald tr

treasury bonds are yielding 3.5%. that's higher than the 2.5% we saw in the first months of 2015. as long as you invest your coupon payments back, you might double your money in 20 years. remember the average historical return for the s&p 500 is 10% annual annually, which will let you double your money in a little more than seven years. if you're under the age of 30 and you own a bunch of bonds, i think you're being way too cautious i know it puts me out there. but you know what? i've been around that's how i feel. even your 401(k) and ira, you want to be heavily weighted. allow your taxes to compound year after year. unlike the stockmarket where you can lose enormous amounts of money in the blichk of an eye, bonds are safe once you use the stockmarket you do want to funnel more of your money into u.s. treasuries i'll l ideally you do that. so let's get down to brass tacks. precisely how much of your retirement portfolio should you keep in bonds versus stocks? again, that depends how old you are. i'll give you a rule

look at the 10-year treasury. people talked when it went to 324, it was headed toward 3.50 to 4 hers. i strongly disagreed. even after it's come down now to about 274, i think u.s. treasury are a buy. the bonds are a buy. you are going to get more of a positive return from the so-called risk-free securities for some time to come. that would be one more safe haven for investors to look to. caroline: i want to talk about global investments and opportunities later on. for now what could stabilize the market? what could support and what could end the selloff? is it all going to be about earnings for the fourth quarter for companies? is it going to be more about trade? what are the headlines you expect would give some support and buying opportunities for you? >> i think several aspects can be helpful. number one, go and look what happens on the trade. is president trump able to settle. the developments with china and make sure that there is more of an even footing? you have put 142 different demands for the chinese to

treasury is where you park your money. even with respect to treasuries for just fixed income in general, although the credit products and fixed-income have underperformed, there certainly below zero, they outperform the equity. jonathan: but as a consequence, what we done? taken at right hikes through 2019 with the exception of maybe. inflation expectations a bit strip right now, we've rolled over. confirmsany data that the rate market and inflation expectation to that extent as well. --this is not a fundamental the job data today was pretty good. it's more a crisis of confidence. it's what happened with the if this drags, on, this could have quite a meaningful impact on global growth. jonathan: to see that volume come into the front end of the treasury market which is stunning for me and i think for a lot of people, with the conclusion by summoning people that i've spoken to in the fixed income market, it basically said the move is lower on the front end in terms of yield and the reason being is because essentially we've

. >> growing worries among investors that treasury secretary called c.e.o.s of some of the largest banks in the u.s. in effort to shore up confidence. >> there's no clear resolution in sight amid growing fears the stand off could stretch into the new year. >> kevin spacey facing charges in the sexual assault of a massachusetts teenager. >> this comes as spacey published a bizarre video. >> you wouldn't rush to judgment without facts, would you? >> search teams are now scouring wreckage looking for survivors in indonesia of tsunami, already killed hundreds. >> the tsunami is believed to have been caused by eruption of a nearby volcano. >> meanwhile, mt. etna is erupting in italy, forcing the closure of the airport on sicily's eastern coast. >> worshippers and tourists alike visited bethlehem church of the nativity. >> pope francis residing over christmas eve mass in st. peter's basilica. >> a 60-year tradition that not even the partial government shutdown is able to stop. santa is on the move this is hccording to the santa tracker. >> he's got a long, long day. >> quijano: jeff glor is of

treasury treasury treasury treasury and so americans are tell you and they're doing war games they've got jets with the chinese flags and stuff on the on the tail wind wings some things or they're out there doing the mock wars well a few things first of all we're called yankees because we used to i think it was the dutch you named us the yankees and yankees basically stole all the intellectual property of the european empires of the time secondly our intellectual property is very basically violent it's weaponized and it's it has enabled a class of people it's a equivalent basically our printing us dollars and printing. copyright has allowed has created a class of these oligarchs who have the state department and the u.s. department of defense on their side and thirdly the cable news and all of our elite sort of basically progressive they call themselves progressive but they'll say that we have no empire we don't behave like this we don't use force to you know basically exact advantageous trade deals for ourselves we're just like hollywood's just superior and that's why we're wealthy i

maria: my thanks to treasury secretary stephen mnuchin. don't go anywhere. more wall street coming up next. .. t seal. to help block out food t sealparticles. so he can enjoy the game. super poligrip. is important to me so father being diagnosed with advanced non-small cell lung cancer made me think of all the things that i wanted to teach my kids. (avo) another tru story with keytruda. (roger) my doctor said i could start on keytruda so i did. with each scan things just got better. (avo) in a clinical study, keytruda offered patients a longer life than chemotherapy. and it could be your first treatment. keytruda is for adults with non-small cell lung cancer that has spread... ...who test positive for pd-l1 and whose tumors do not have an abnormal "egfr" or "alk" gene. it's the immunotherapy with the most fda-approved uses for advanced lung cancer. keytruda can cause your immune system to attack normal organs and tissues in your body and affect how they work. this can happen anytime during or after treatment and may be severe and lead to death. see your doct

treasury treasury treasury and treasury and so americans are tell you and they're doing war games they've got jets with the chinese flags the stuff on the on the tail wind wings and things are they're out there doing the mock wars well a few things first of all we're called yankees because we used to i think it was the dutch you named us the yankees and yankees basically stole all the intellectual property of the european empires of the time secondly our intellectual property is very basically violent it's weaponized and it's it has enabled a class of people it's a equivalent basically our printing us dollars and printing copyright has allowed it has created a class of these oligarchs. to have the state department and the u.s. department of defense on their side and thirdly the cable news and all of our elite sort of basically progressive they call themselves progressive but they'll say that we have no empire we don't behave like this we don't use force to you know basically exact advantageous trade deals for ourselves we're just like hollywood's just superior and that's why we're wealthy

triple play is topping your top five the treasury secretary calling america's biggest bankers over the weekend. the question is why. >>> reports growing that president trump is looking into possibly firing fed chairman jay powell >>> parts of the u.s. government remain closed at this hour the third government shutdown of the year entering its third day. >>> wall street shrugging off the d.c. noise futures are higher. >>> and retail, a big focus this morning. the final dash begins before christmas. we'll have more on these big stories coming up on this monday, christmas eve. "worldwide exchange" begins right now. ♪ >>> good morning good afternoon good evening welcome from wherever in the world you may be watching. i'm brian sullivan thank you for being with us. here's how the money your markets and everything else is setting up we are seeing dow futures up a bit. it's an early close for the stock market today normally christmas eve or the last trading day before christmas, you won't get a lot of action. it's been anything but a normal year anything but a normal couple of months dow fu

treasuries. you had politics, you had concerns around slowdown in growth in the u.s., you had the selloff in oil arguably positioning was short there is a technical element to it when it comes to the fed and the moves we've seen, ultimately what matters is the market repricing expect takes around the fed, repricing expectations around growth. we have seen treasury yields moving down below 3% >> don't you think we have gone too far down that process? at one point yesterday there wasn't one hike priced in for all of 2019. not only is the market saying we don't believe the fed of the fed dots, the market is saying we don't believe the fed can hike beyond december. isn't that an overexaggeration >> we would agree with that. the market got carried away. we have 16 basis points, maybe just under 20 basis points of hikes for december not even one hike priced in for this year. that's a bit too much. if you think about u.s. growth and what's going on there, it has been growing above trend for most of 2018