Last two weeks. The yields on debt that comes due in one month have risen to levels higher than yields for maturity thats dont secure for six months. Thats a big deal because normally an issuer would pay to borrow for longer periods of time. The institutions want to avoid being stuck with debt in the event of a default. Citigroup has told clients it would rather not take treasuries on october 24th as a sign of collateral. Andrew, this a sign your money is no good here. Weve got more on the situation in washington in just a few minutes. I dont know if people are going to be taking paengz or not, but i think we should see a number of Companies Set to post Quarterly Results for today. Before the bell, well hear from the follow. Citigroup, cocacola and johnson and johnson. Intel and yahoo are among the other we will be hearing from. Burberrys ceo is leaving the British Fashion house to move to, guess where . Apple. Angela ahrendts is going to take up a newly created position at apple with oversight of retail and online stores. Shes going report directly to ceo tim cook. Blackberry opening to publishers, appearing in major publications around the world today. The letter tries to reassure customers saying in art, there are no doubt challenges times for us and we dont underestimate the situation. But we should continue to count on blackberry. Blackberry is, of course, considering a sale or breakup of its operations. Joe. What does that mean . I mean, continue to count my blackberry still working . And you should be very happy about that. Lets check on markets. A onemonth bill . If you really want to look at the what weve seen, the effect of the worry, lets look at the effect on the one month or the three month. Billions . When youre talking billions, you know, the shortterm funding that goes on around the world, billions is a big number, but the global flow of funds and whats in one month and if you havent seen the panic in the two year, you i think if it was a real worry about, you know, a default, i think people would be selling and the chinese would be uncomfortable in the ten year and the 30 year, etcetera. As the headline pointed out, even the six month has not seen any panic. This is a technical thing. Maybe theres near term, maybe theres something that happens but you wonder what happens. If you go past thursday and later you wonder we saw the 2ekal reasons for the money market funds. I think the markets went up thursday, friday, and its indicated up higher today. All on the assumption that we get a deal by thursday or friday or through next week. And the actual day is not the 17th, its probably the 1st. I would beg to differ and suggest that actually next monday is the day when the markets what happens next monday . Theres apparently a couple of payments that they start having to make next monday where things could get choppy. Were going to talk to harwood and see what he thinks. Do you get the house today . I doubt you get the house today. Do you get them tomorrow . Probably not. So you get the senate done. Boehners name is not going to be on the default. I think hed let a vote go. But i guess the question is when does he do this . He would let it go to vote. But i wonder, would he do that by thursday . Would that be something that it took until friday or monday to actually do . These guys look askance over at the house. He hear them talking, theyre collegial, they remind me of the guys like delta tarr. What was his name . Im not going to give them a hard time. No, just hold off for a second. Do you remember the guy database have you seen animal house . The guy who yes. And then youve got the house. Delta house. Are they not delta house . Belushi, food fights but theyre the fun ones. But theyre insane, but swinging from the chandeliers and then the that is really good. Of course, the senate is thank you, sir, may i have another. In they have those dark rituals where theyre getting slapped and who knows whats going on there. But theres toga parties going on over at kai omega . Sorry, omega beta i dont want to do any actual fraternities. But they talk about how collegial they are in the senate. Yesterday, bob corker did tell us he got a little heated, actually almost rose out of the chair with ted cruz. And then he stopped himself. But that is heated. That is heated for the senate. Whew, wow, settle down, big fella. Whereas over there, its like mixed martial arts or mud wrestling naked. Are you into mud wrestling . No. But its the big two year, six year difference. You represent an entire state when youre the senate. When youre a congressman, youre a small its like the house of lords versus the house of commons. These guys are commoners, are they not . So i can blame the house if we end up in the beltway . Its the houses fault, trust me. And you will be down in the beltway. Im leaving after the show to go to washington. Oh, yeah, youre going to be down there. You recognize if we go to the 17th, i wont be going to a bengals day, right . God, ive got jim nance saying bengals, you say bengals. Bengal tigers. Bengal button. Mean wile, the last point i will make, does goal look to you like theres a lot of stuff going . No. Nobody cares. 1255. Do you see that thing on the left . We are slowly approaching if it goes through that, do you see that number at the very bottom . Were going to have to move that down below 1,000. Were going to have to put 900 on the chart, perhaps one of these days. Anyway, time for the Global Markets report. Ross westgate is standing by in london. Whenever i come can in, ross. God bless you. I love Worldwide Exchange and everything. But you get some squirrelly looking guys from time to time. What . Injury going to snut the guests . No. But i look at them. We dont have the hair is different. Just everything have you ever noticed you guys get some unique looking people coming in there for theres no way he can answer that. It makes him look good. I think unique is a good thing. A lot of the guests in the last hour are american, as well. I just assumed. I dont have the volume up normally. And i go, look at this guy. The big weird ties and the english i just think in general you get some interesting, quirky looking eccentric looking guests over there, right . That is the world, joe. That is the world and thats title of the show. Yeah, youre right. There you go. Thats what we do. Quirky Worldwide Exchange. Becky is right. I cant really comment any more than that. Thanks for that. Let me show you where we are with the debt debate going on in washington, d. C. Equities are firmer here in euro europe, around 8 to 2. Were not quite at the session high. We hit that around 30 minutes or so ago. Up 20 points, up another 50 this morning. 0. 75 higher for the xetra dax and the ftse 100. Cac 40 up 0. 6 and the ftse mib is flat. Utilities are the weakest along with industrials. Here is one we want to point out. Basic resources up 2 . Rio tinto, the worlds biggest iron ore producers coming out and ramping up production, fairly bullish. This comes on the back of figures yesterday which show record iron ore imports. Things are looking much better for the remaining diversified giants than they were a year ago. Basic resources have been the underperform underperformer. Take a look at the individual stocks in focus today. Its all about burberry, 4. 73 . Angela ahrendts is leaving burberry. Guess where shes going . Over to apple. Apple stock up up 1. 3 . Basically, shes going to be the head of apples retail. The last time she spoke to us in september she was very bullish about digitalzation of burberry products for things like the apple iphone 5s, as well. Thats where these going. Taking over at burberry will be the current chief creative officer chris bailey. Hes been there for around six years. There we go. Will she do similar things for apple . Thats what well have to look at. Right now, investors believe there is a temporary solution on the table in washington and thats pushing assets prices higher. Lets get back to that washington story and to john harwood. John, it looks like things are starting to take shape in the senate. When do you think we might see it . I think well see it today. The way it was taking shape last evening when they brock and decided Mitch Mcconnell was going to talk to his this morning you would have a continuing resolution through the middle of january. That was shorter than democrats wanted because they want to be able to in the budget talks negotiate higher spending levels. Republicans have been asking for a longer cr. On the debt limit, you would have that go through february the 7th. That is shorter than democrats wanted, but republicans wanted it short to keep the pressure on for a deal. The medical device tax would shed some on the right and republicans wanted to repeal as a sort of stop to the effort to stop obama care. That is no is in the discussions. They were talking about last night Income Verification steps that republicans had asked for. Paired with a delay in a tax that labor unions dont like called the reinsurance tax. Both of those are relatively minor provisions designed to give something to they needed something for having pushed this as far as they did. So it was looking pretty promising, both mcconnell and reid were confident that they could move this with their numbers. I think the odds are going good that they will pass in the senate today or tomorrow. 1234 some say i dont think Mitch Mcconnell will send us something that we cant and get a good number of republicans. Well see what happens. I guess the issue is how many republicans you actually get. Is there going to be something that will be carried by the republicans or will the democrats have to agree, too . Will it be a small number . I dont know how to forecast that. I do think most republicans want to bleeding to stop. They want this crisis to be over. But, remember, that ted cruz and the members of the tea Party Faction kind of overran their leaders in the first place. The leaders never wanted to go down this road. And so i think it is you have to assign some uncertainty to that outcome. The other question, john, is an extension like that is not an incredibly long extension when you start thinking about the holiday time that popped up between now and then. Is there the sense that there will be very real talks coming up with a proposal that could then be acceptable just a few months down the road . Yes. Theyre talking about having a budget conference that could conclude by middecember. And the aim of that conference would be to alleviate parts of the sequester, which members of both parties dont like and they feel its pinched too hard and replace those with entitlement cuts. And the question is is that a small deal or a big deal . If its a small deal, it might be able to be done without any additional tax revenue, which is obviously a problem for republicans. If its a big deal, a more ambitious thing that has more savings out of Social Security, democrats would insist on tax revenue. Is that possible in this environment . It hasnt been in the past. Dont know about this one. Is it going to be a deal that gets done by thursday or is this something that you think gets pushed past thursday and into this weekend . I would bet that it is done by thursday and john boehner will put it on the floor and pass it. You dont know how much the speaker and the house is going to be influenced and moved by objections from the right if those come. Okay. John, thank you. We will continue to check in on this and thank you for keeping us up to date. If its done, you know its done, then i dont see why hes down there. I dont think he knows. You know where i stand on that. You dont want to go. I dont want to go, but i think we are going and, therefore, im not going to the Football Game. He wanted to go to youd rather go to washington than the Football Game. Which Football Game are you going to . That was the bet that he and harwood made. Its the bet. Hes trying to make you say it. Im not going to. Coming up, amazon is steaming up with procter gamble. Were going to tell you why competitor res upset about that. The dodgers beat the st. Louis cardinals, 30. Cards lead the nfc at 2 games to 1. Monday, the San Diego Chargers didnt allow a touchdown in a win over the indianapolis colts. The chargers improved to 33 and the colts dropped to 4 2. But first, it is now time for the National Forecast with the weather channels alex wallace. Good morning. Good morning. And the big weathermaker here this morning is here across the midwest. The Northern Plains up in the west is our storm system. To the east, wet weather. Its a bit of a soggy one for us, duluth into minunesota. Snow in the western portions of south dakota. A little wintry weather to deal with this morning there. That will be generally what we find for the day for our forecast. Snowy here on the wes side. Then rain showers and storms moving through the western great lakes and the ohio river valley. That will all head east. So for tomorrow, interior northeast, buffalo, youll see rain. Those are showery conditions across the western portions of the great lakes. Now, behind all of this mess, we have temperatures dropping quite a bit. Through the midweek highs, it will be 10 to 20 degrees below average. Denver, 22 degrees below average. Temperatures stuck in the 40s. So those coats and jackets, they are coming out. Thats your National Weather forecast. More squawk box coming up next. [ man ] on december 17, 1903, the Wright Brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me . And you hear your voice . Oh, its exciting [ man ] touchdown confirmed. Were safe on mars. [ cheers and applause ] hi. [ baby fussing ] time now for the executive edge. Amazon is setting up shop inside warehouses of some of its key suppliers like procter gamble. Its all part of amazons push into everyday products like diapers, shampoos as it tries to stay ahead of warehouses and groceriers. Better compete on price and cut the time that it takes to get the items to customers. As for the other players in this deal, p g benefits because it saves on the transportation costs it would have incurred sending the products to amazons regional distribution centers. Guys, the grocers out there are up in arms. But this is a Good Partnership if you are amazon. I would hate this if i was anybody but amazon. I cant think theres anything wrong about this. I dont think so, either. Walmart is not there. Its a partnership. Hey, its a partnership. And kroger is not there. And amazon is there fist. And think how slim they can sell it so cheaply. But p g benefits, amazon benefits. Right. I was trying to figure out what the complaints would be, but i dont think you can come up with an argument. The question becomes the following, however. If walmart calls up p g and says we want space, and if kroger calls up and says, we want space but you know what . The only people who are going to get that would be walmart. Walmart is the only other player that has that. Internet sales are growing so rapidly, thats one of the advantages you get. Gets to you faster, your toilet paper gets to you faster. You use them for everything, dont you . We use them for everything. Prime, right . It used to be if you were amazon prime, you could order anytime at any time and it would come and you didnt have to care about the shipping price at all. You could order batteries or a toothbrush and you wouldnt Pay Attention to shipping. They did something in the past more on two where theyve changed the policy. If im an amazon shareholder i would say yeah, bravo. Some of the smaller items, they have an add on product. So now it will only ship when it ships with the next thing that you get. That makes sense. Thats a smarter way of operating. Because they had to be losing money on prime. You told me two years ago they had to be losing their shirt on you. Had to be. I think we need to run the days off. You know, walmart doesnt think this is very funny, i dont think. What do you think he thinks about that . Walmart doesnt think this is very funny, jeff. There we go. Hes listening from afar. We havent used it in a while. We havent. Did we replace it with paris hilton singing thats hot . Crickets. Crickets. Anyway, crickets. Closing arguments are expected today against billionaire Dallas Mavericks owner mark cuban. The s. E. C. Sued him after selling his stake in mama. Com after the ceo told him about a planned stock offering. Joe, youve had some strong thoughts on this. I just remember when it happened. It was like, we are going to sell some stock. He was like, youre what . You cant raise money now. And he goes, if you sell it, im out. I remember the whole time it didnt look like he thought it was inside info. I dont understand. If i called you up and i had real information i just remember the way it happened. It didnt seem to me that it was nonpublic information. Didnt cuban make it public right away, anyway . He said he was selling for that reason. Of course, i was surprised when fabulous fab, when that happened. I like mark cuban. I think this is a challenging one. No, no. You saw how much money it was, too. At best he would be fined 2 million. If it was meaningless for him to get in and out of. The canadian ceo refused to come here to testify. They testified by video in canada, which is a little strange, too, if youre on the jury. I just remember i dont remember the details, but i remember when it happened. I remember wa cuban said and he was incensed that they were doing it. And it wasnt that it was like, well, i found out theyre doing it. It was like, im not going to be in your stupid stock, then. But r but that would be like Lloyd Blankfein calling you and saying, im getting rid of your stock. I dont think he thought that want that it was confident information. My most interesting thing is this. Did you see this . Can you get in on this . What sitd . Those pink lynx are your immune system cells. And that big thing what is it attacking . Thats a cancer cell. Whoa. But it looks like some kind of big, hideous bug, doesnt it . But the immune cells are ineffective against that . No. Theres things you can do to get your t cells to get even more aggressive in recognizing cancer as nonself. But i thought it was cool. Now, they dyed the different cells so you could see them. But you look at that hid why heus looking cancer cell, totally uncontrolled, divides, divides, spreads and breaks