Obama Center of G-20 Attention on Syria, Fed Taper

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Sept. 5 (Bloomberg) -- Bloomberg International Correspondent Hans Nichols sets the scene from St. Petersburg, Russia as President Barack Obama arrives for the G-20 meeting as the crisis in Syria hangs over the gathering. He speaks on Bloomberg Television's "Bloomberg Surveillance."

President putin is very busy.

President obama seems a little alone.

He is a little isolated but has an ally in enrico letta co.

Announced that italian warships are off the coast of lebanon.

There are two different conferences going on here.

One is unserious and it is largely about syria but there is also an economic component.

Ban ki- moon is arriving today and will make a big political push.

The head of the european union is also talking about the need for a political solution.

The lines of the debate are very clear with those who want a political solution and those agitating for some sort of military response.

We know where obama is and we certainly know where vladimir putin is.

We look yesterday at vladimir putin talking about the un security council being involved.

Is there a new idea that something can be done constructively at the united nations?

From the perspective of the u.s. administration, no, because what the un will find is that of chemical weapons have been used, not on the question of the chain of command as to who ordered them.

That is where the debate is splitting apart.

The u.s. says that the un is not in a position to adjudicate who authorized the use of those chemical weapons.

President obama came as close as he did far laying at the feet of bosch r al-assad.

Obama has to pay lip service but his challenge may be back on capitol hill, getting enough votes for the use of the authorization of force.

Who is the president most focused on back in washington?

Who is he playing to drum st.

Petersburg?

Who is he performing for?

For the republican side, he he is relying on his staff, mainly senator hagel.

His audience's house democrats, progressive house democrats.

There is a strong view in the caucus not to get involved in foreign entanglements especially in the middle east.

In many ways, his most important audience is the house democrats and some and the senate but it looks like the senate is moving toward passing this but house democrats are very earned by the iraq war.

You are talking about how the un secretary general will be at the g-20 meeting.

Who is the leader that ever when wants to talk at the meeting?

I suspect obama.

They want a better sense of the timing on any certain action unserious.

The other crucial question is they want to know what direction president obama is heading in on who he picks for the next head of the federal reserve.

There is a great you look concerned that the federal reserve will taper to quickly and cause global chaos, potentially another recession.

They will want to make sure -- the other foreign leaders want to make sure that taper does not happen to quickly.

Thank you so much from st.

Petersburg.

The president is flying from stockholm to state -- to st.

Petersburg.

He arrived about 40 minutes ago.

As we take a look at how the markets are going to get ready to open trading, futures are somewhat lower.

You have been talking about the two-year yield.

He far i left, it was comfortably in the 34 basis point range and now it is above 50 basis points.

This text has been automatically generated. It may not be 100% accurate.

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