entrepreneurs are burdened by overregulation and this unspeakable that, and that is not just as physical might moral failure. i want to speak to the just a moment. , passed one debt from our generation to yours -- this is breaking of the social --pact, and you deserve more you deserve better. i am offering a responsible plan to fix the entitlement system and to stop this theft from your generation. [cheers and applause] who -- those,cans i might add, forgotten americans -- drowning in personal debt, working for harder wages that do not keep up with the rising cost of living, i am here to say i hear you.

rising healthe care costs, rising childcare costs, skyrocketing tuition costs, mounting student loan debt. going to doand i am something about it. to the one in five children and families on food stamps, the one in seven americans living in poverty. to the one in 10 workers unemployed -- betty: that was rick perry announcing his presidential run, addressing the problems in this country. betty liu with mark crumpton. we have more news on greece and its payment to the imf. julie hyman has more. julie co according to an official who did not want to be named, greece is set to request a bundling of its imf payments until june. the deadline is supposed to be

tomorrow. in recent days in greece and other countries of the eu, ministers have been in tight negotiations over the outcome of this. apparently, this is following a government,he greek for a lump sume payment. rather than having these various deadlines, bundle them all and make it one deadline. it is not clear how that is going to make it easier of course, because greece will have to pay all the money eventually. again, this is according to an official familiar with the matter. a greek government spokesman did not respond to phone calls seeking comment. this is something that christine lagarde alluded to when she made comments. she said she welcomes the constructive meeting with the greek prime minister and european union officials.

to thes have been made imf directly, and we will find out what the imf response will be to this. mark: julie, thank you so much spirit let's take a check of the markets as we moved past the top of the hour in new york city. declines in oil and metals dragging commodities. the s&p 500 is down about half a percent. the dow jones industrial average also falling on this thursday. the dow is off 79 points right now. 17,932. nasdaq is down at this hour. let's take a look at commodities. gold futures are falling. gold is trading on a four-week a report showed fewer u.s. workers file jobless

claims, fueling concern that a death -- that the fed will refuse to raise interest rates this year. gold futures are down, trading at 1170 five dollars. nymex crude is falling as well. 1175 dollars. what else is falling our bond yields at this moment. you can see a significant drop here. after the comments made by christine lagarde at the international monetary fund. you can see the 10-year yield now losing some ground here. 2.3-putt percent. we're still at elevated levels for the 10 year yield. finally, in the currency markets, we have seen some pretty big losses in the dollar, but it is right now strengthening against the yen, 124 point 59. also stronger against the euro. the euro is moving on the back of the news that greece is said

to be asking for a bundling, which was someone -- which was somewhat expected. the international monetary fund is calling on the u.s. federal reserve to hold off from raising interest rates until the first half of 2016. lagarde: volatility with financial stability consequences that go well beyond the u.s. borders. in weighing those risks, we think there is a case for waiting to raise rates until there are more tangible signs of wage or price inflation than are currently evident. words, we believe that a rate hike would be better off in early 2016. mark: the imf also cut its u.s. growth forecast for the second

time in three months. lender says the dollar was "moderately overvalued," and if it gets much stronger, it would be "harmful." back on may 22, janet yellen says she expects interest rates to increase this year if the u.s. economy meets her forecast. it is the last key economic figure we will get before the jobs report. fewer americans apply for an opponent benefits, and the total number of people getting jobless insurance payments was the smallest in more than 14 years. josh -- the may main jobs report will show steady gains in hiring current consumer confidence dropped last week to a six-month low. it was the eighth straight weeks at the bloomberg consumer comfort index fell three higher gasoline prices may be the

culprit. the average price of regular gas is the highest since december 1. field of republican presidential candidates keeps growing. texas governor rick perry is officially in the race for a second time. he is the 10th declared candidate, and former florida governor jeb bush sent out a tweet today urging supporters to sign up to attend an announcement he is making on june 15. he reportedly will announce in miami that he, too, is running for president. arees of t-mobile and dish rising today. there is a report the companies are in merger talks. "the wall street journal" says a number of the issues have been resolved, but not the price. john leger says -- he would like an acquisition that says he would put a $50 billion stockpile of airways to work. will -- bio-reference

laboratories will be bought by o pko at a premium of about 60% to yesterday's closing price. betty: regulators are suing over the fake takeover bid for avon products last month. the sec has filed suit against a firm, so-called ptg capital. avon shares rose as much as 20% after a filing reported to show a bit about three times avon's stock price. apple says it is making progress on backlogged orders for its new watches. the cover he says all but one of will beh versions shipping in two weeks if they were ordered in may. some models will then go on sale in stores. that is a look at top stories in the hour. on the bloomberg market day, a key opec meeting begins tomorrow indiana. will officials cut production?

betty: more billionaires will give away their money. 16 of them have added their names to the giving pledge, promising to donate the bulk of their fortunes to charity. mark: regulating bitcoin. we speak with benjamin law skate about why he is making new york the first state to take action on the virtual currency. betty: now back to our top story, christine lagarde's warning this morning barring unexpected good news. here's why. lagarde: we believe the trade-off between starting to bank early and risking disinflation and having to , at theo lower rates risk of slightly above 2% inflation going forward. mark: earlier today, mohamed el-erian told us why he was surprised by christine lagarde's said recommendation.

mohamed el-erian: it is unusual for the imf to be so explicit and specific about a policy action, and it was today. it told the said it should wait until 2016, even though the data remains fluent. mark: joining us now is uncle schumacher, head of -- is imf andschumacher from lisa abramowicz. but start about the timing about this announcement turned white this -- happen, it will be a pretty risk off event. that's part of it. theybody has an opinion on fed, so it is common for people to talk about it. we still think the fed is going to go into september, but it is data dependent. it is going to look at developments over the next few months. it is probably tied a little bit

to greece anyway. that is why the imf piped up when it did. betty: this is not the first time that we have heard an imf head weighing in on policies. they have talked about central banks, including the ecb, before, but the u.s. has been immune until now. that said, the imf has raised some serious concerns about financial stability in the u.s., particularly in the u.s. bond markets. it has done so pretty steadily. this is building on that, and raising financial stability concerns to the front of people's minds. mark: mike, part of the statement says the f one c should be data dependent and defer policy rates until there are greater signs of wage or price inflation than are currently evident. we are getting a sense because fed chair janet yellen has been saying one of her concerns was that wages were stagnant, but the fomc is data dependent.

what are they reading in the tea leaves that the imf is not? mike: the job market is cranking out 200,000 jobs plus or minus per month, and you would have to hold,if economics still wages will pick up. the fed is looking to get in front of an increase, whereas the imf wants a leg of it. that is the big difference in those two views. lisa: do you agree with christine lagarde? mike: no, i do not. you look at unemployment, it is effectively the fed's long-term target. inflation is a little bit low but not terrible. if it ticks of the little bit, it will be in line. it seems the fed has waited a very long time. the markets probably get hit a little bit with the way -- with the rate hikes, but if we cannot face a small increase, we all have big problems. betty: christine lagarde just set the world on a bigger -- we

are already watching the fed, watching them even more. i hear what you're saying, mike, that likely they will still go in september. it does not really change very much. but she just made it a whole lot harder for janet yellen. didn't she? mike: i don't think so. when you think about what the fed cares about, the fed will give lip service to international the developments. it but that phrase in the statement of publishers ago, but it does not -- the fed cares about the financial markets. if something goes badly overseas, the fed will pay attention. it did in 1998. 2008 you could argue was a huge global meltdown. the fed is u.s. focused front and center. by the imf picking up, it did not make it that much more difficult for the fed. at, why isle look the imf talking about the u.s. now? it has never really focused on the fed very much. i do not think it has put that much more pressure on the fed. schumacher, head of

global rate strategy at ubs. thanks to lisa abramowicz. prices are, oil falling ahead of tomorrow's opec meeting. mark: we will have the latest on why members are expecting to keep production levels unchanged . ♪

welcome black 2 -- welcome back to the bloomberg market day. i'm betty liu with mark crumpton. mark: welcome and good afternoon. julie co if you look at the three major averages, we are pretty much below the session.

we have seen the selling continue. the dow is almost on a percent. the nasdaq off .75 of 1%. i am also pointing out the action that we are seeing in the vix. we have seen cross asset volatility pickup today, just as mario draghi warned it might do yesterday in his comments. up 12% on a one-month high. take a look at oil prices. that is the next thing we are going to look at here. it is down by 3%, ahead of the opec meeting tomorrow you will hear much more about that from alix steel in a moment here in definitely notable. the move that we are seeing in oil prices is poised this week to snappy 11-week winning streak. now on my bloomberg terminal. we have looked at this a couple

times before. this is a measure of the groups in the s&p, the sectors in the s&p, where we are seeing them buy and sell. there is no green on the wheel here today. that is because the selloff is broad-based. so, yes, we are seeing energy stocks sell off, but we are also seeing health care, industrials, telecoms, trading lower. i also wanted to point out material stocks are trading lower in particular. we are seeing this group selloff the most in at least two months, down 1.5%. it is not just oil that is down today. across the board and commodities -- copper, gold, silver, gold at a four-week low. if you look at the metal prices, you have them. all of them are trading lower as well, a lot of concern about global demand, and definitely it looks like a risk-off trade. betty: i cannot help but notice that you are matching all the selling today in the red. : i did not mean to do

it. betty: and anticipated meeting of countries from opec gets underway in vienna tomorrow. investors prepare for a widely expected decision by opec to maintain current production levels despite worries over a global supply glut. steel, we are not expecting any movement tomorrow, are we? alix: what if there is an increase to the quota? the potential reason for why we are seeing oil come also -- come off, stronger. it is like a demand snapshot. to 31y increase the poker million barrels a day, it is like, i am in it to win it.

we are in it to fight for market share, and we are not going to back down right now. that in theory could put the pressure on oil prices as we are still oversupplied. betty: as we are seeing this, we are seeing an immediate knee-jerk reaction to oil prices, but what about longer-term. alix: we are thinking nigeria, deepwater,zilian australian lng, resume. these kinds of projects will have an enormous impact. they are responsible for 54 million barrels of oil a day, and 2.6 million barrels are at risk right now. analysts say 2016, 20 17 is where you could see the supply crunch from this group. mark: let's talk about saudi arabia. what are they trying to gain by pumping so much oil? alix: they

want more business, and saudi arabia is a great example. in china, their market share went up to 21% from 15%. they can deal with lower oil prices and they want the business. mark: look at that. alix: more than 10 million barrels a day. it could go to 11 million. mark: alix steel, we will say you -- we will see you later this afternoon. ♪

welcome back to bloomberg market day. i am crumpton with betty liu.

betty: the sec investigation is -- the ftc investigation is about to be resolved on herbalife. the shares spiked to an intraday high and we will see what the outcome is. mark: the story that just will not go away. betty: the gift that keeps on giving to the news media. mark: about 200 billionaires -- the giving pledge initiative was started five years ago by warren buffett and bill and melinda gates to give away most of their money. millionaires finding it so easy to sign on. here is brendan coffee. you found out it is easy to say yes because it is not binding, is that right? >> that is right. you have to sign on and then you do not have to do a thing. you do not have to give away anything.

mark: brendan, talk about the pledge and the people who have been giving. are they giving the required amount of money, or are they falling short? tondan: the requirement is give away half or more of your fortune in life or when you die. 10 who died to see if they are following ofough, and because disclosure requirements or lack of disclosure requirements, you cannot be 100% certain. long story short, only two of the 10 have given away more than half their fortune. the other eight, it appears highly unlikely. betty: what happened? why is that, brendan? brendan: one of the early signers was a good friend of bill gates and warren buffett. he probably was worth about $4 billion when he died. he ultimately will end up giving

$460 million to charity once his estate is settled. his son told me legally he did not own that $4 billion when he died. about 20 seconds left. is this one of those things where you have wealthy people doing this because they know it is the right thing to do, or are they doing that because they get good pr? brendan: it seems pr is a motivator for some, but there are billionaires doing some good work. bill gates and warren buffett combined have put almost $50 billion into the melinda and bill gates foundation for good works, so certainly there are billionaires doing their part. the downside is some do not have to. mark: bloomberg's brendan coffee joining us from boston. coming up in the next half hour, the coin business got a little bit more legit. ♪

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mark: top headlines, greece has submitted a request to the international monetary fund its four payments due early in june into one lump sum payment early this year, according to an official familiar with the matter. the official says the step was the greeke request of government, and the country is waiting for the imf to reply. the request comes after another .ound of high-level talks in brussels, greece's prime minister, alexis tsipras, europeanproposals from lenders that would have unlocked bailout funds. the only ones are the ones his government came up with. earlier we heard from the imf managing director, christine lagarde. christine lagarde: including as late as last night from the prime mr. himself, that payment

had been honored and would be honored. i think his words were do not worry. so i am confident that will continue to be the case. mark: greece needs the bailout funds to avert a default. egypt's highest appeals court has ordered the retrial of former president hosni mubarak, charged with failing to stop the killings of hundreds of protesters during the 2011 uprising. mubarak is 86 and in failing health. the retrial is scheduled to begin in november. general motors is struggling in china. the automaker report of the second month of sales declines, this the right -- despite cutting prices on models of his buick, chevrolet, and cadillac rands. sales from arop in year ago. those are your top stories.

coming up in the next half hour of bloomberg market day, a surprise warning from the imf saying that the federal reserve should delay raising interest rates until next year. fed chair janet yellen -- will she heed the warning? alibaba is hoping to capitalize on the surging chinese stock market. it is planning to share new sales in its movie company, alibaba pictures. save lives, drugs but they can also cause big bucks. we will get the numbers on this critical issue. bit going businesses in new york are getting a new set of rules to play by. yesterday the state's top financial regulator unveiled the bit license. these are regulations designed to protect consumers and improve cyber security practices for the digital currency. new york is the first state to lay down a framework, but will these moves legitimized the crypto currency or hamper a nascent technology?

erik schatzker joins me now with the man behind the measures, ky.jamin laws tok: it is clear you tried strike a balance with the bit license, so why does it seem like nobody is happy? >> being a financial regulator is not a popularity contest, but likenk it is a little bit the three bears. you want to get the porridge, the regulatory porridge just right -- not too hot, not too cold, and people are not always happy, but we try to put in enough protection so that consumers are protected and these firms will not fail. adequate security, capital, and adequate money laundering actions in place. but at the same time, we are dealing with a very new, innovative technology and set of

firms. if we had huge compliance costs, we would have a tough time creating flex ability so startups could start up. i think we have that balance right. but the jury is out. we will see how it goes. erik: do you sympathize with the bit license and bitcoin in general, or do you dismiss it as ranting? >> we will try to always listen at something that someone has to say. we received 7000 comments. erik: there are some interested parties out there. parties are interested that issue their own opinions. the more you listen, the better you can make decisions, so we try to do it that way. erik: some argue that we are subjecting ash that you are subjecting bitcoin businesses to , in more paperwork

compliance, because it is more obviously, then the banking industry is subject to. is that true? >> i do nothing that is the case. there are a lot of regulations and requirements. erik: specifically things on anti-money-laundering -- benjamin: i think that is misplaced. i think our rags are fair. -- i think our regs are fair. whether you are a new regulator or an old one, if you are going to hold customer money, you will have a certain responsibility, a certain level of regulatory scrutiny because we want to make sure that, especially as the industry grows over time, that people are protected, that consumers know what they are getting. we saw it with the mountain ox collapse. -- wouldt

they have been so -- subject to the license? >> i don't think so. that is the heart of the regulatory intent is to make sure that the firms we regulate do not collapse or disappear. erik: here is one criticism that makes some sense to me, and it is from fred wilson. he is not ranting, if you will. the compliance component of the bit license raises operating costs to the point that the barriers to entry are too high for new businesses, and as a money, which is keeping the bitcoin industry alive, will only be steered towards established businesses. so it will snuff out nascent advances. >> fred is a smart guy, and i will -- i have spent a lot of time with them, hearing him out.

the proof will be in the pudding. we will see companies getting licensed in new york, and we already did one company under the banking license. i think we have a couple of bit license is coming down the pike sooner rather than later. it will up compliance costs, but not in such a way that you will see money dry up. that is why we did, when we put out the second version of this -- the third now -- but on 2.0, we created some flexibility there, so for firms where they have compliance costs that would make it impossible to start up, we have the ability to work with them. it does not mean you get to ignore money-laundering or you get to ignore drug dealing. you cannot do that. we need to have a certain level of compliance. but at the same time we need to be realists with the smarter startup companies. erik: is one of your objectives that by legitimizing bitcoin effectively, then more people will become comfortable using the currency?

benjamin: that is not my objective. it is a fascinating technology, the block chain. it is going to chain over time -- it is going to change over time. there is a core of interesting cryptography and innovation in digital currencies, and if it continues to grow, if we regulate in the right way and consumers want it, it will have that effect. my hope is that you will see consumers who want to use it coming in and feeling more protected. you will see the companies in new york who are licensed the right way having a competitive advantage, and that could drive other countries -- other companies to get licensed as well. erik: wall street has the, adept at creating new products with hidden risks that only become apparent later. why should bitcoin the any different? benjamin: that is true in general with regulation in every spear -- every sphere. i think if you have a regulator

that is on his or her toes, the regulator has got to adapt as well. you can always run a little bit behind. erik: what about unintended consequences. wall street is worth invoking or you it is hard to see can only listen to the moaning and groaning from wall street volcker over : we do not want to see the moving into another country. it is something we worry about. my hope is that we can flip those incentives on their head. by having a place where, if you get the regulation right and the companies who are being well-regulated can gain a competitive advantage and thrive, you could potentially create a situation in which people -- erik: get them to want to come new york state. nice to see you. ben is superintendent

lawsky. still ahead on bloomberg market day, a volatile one for bonds in europe. ♪

mark: welcome back to the bloomberg market day. today pass market has closed in asia and europe. through whate you has been happening here. about 4:30, the markets have been setting up shop in europe. it has been a pretty difficult

day. most of the main european indices down, the ftse down by 1.83. the dax down by .5 of 1%. we have been watching what has been happening with the bull markets pretty carefully. let me show you the two-day session chart, and you can see the gap first thing this morning. we came in a fairly negative story. since then, yes, we are off our highs. this was around the point to which the imf came out and made comments, christine lagarde in that press conference. greece remains front and center with and will remain front and center tomorrow. everyone is watching carefully to see whether or not we get the imf bond payment, and we have had a tweet from alexis tsipras indicating he will update the greek parliament tomorrow around 6:00 p.m., 4:00 p.m. london, london -- new york time. the bond market continues to be

a factor in this, but stocks certainly are taking a significant hit. tomorrow, once again, it is going to be all about greece. ,e will be focused on the imf and whether or not it will get its money from athens. >> alibaba pictures, the separately listed pictures, billion --our-point 4.2 billion new shares. it has raised $1.5 billion that it will deploy to find the potential deal. betweenential companies china and hong kong. it is quite something. --k: that's get a straight let's get straight to the markets nubber julie hyman is standing by with details. julie: i wanted to bring you to the dramatic new still day per let's start with dow chemical.

there is a report from reuters that the sec is investigating allegations of misspending by the ceo of the company, andrew ras. arrests -- andrew live confirmg is trying to the report. you can see the reaction that we saw with shares of sharp dropping. they have come back and then some to before to where they were before the report came out. we will update you when we have more details on it. another dramatic move during the session with the lattice semiconductor. the ceo of the company is open to its sale, but only for a higher premium than what intel offer for out sarah -- for altera. can see very dramatic reaction in the lattice shares, up by 4%, but spiking when we got those headlines.

also, i wanted to look at chesapeake energy. chesapeake energy has been falling after analysts said folks should short the stock, that the prospects do not look good for the next two to four years. shares were off by nearly 2% to 4%. this is a very shorted stock. here is the short interest in chesapeake energy. it has climbed precipitously over the past couple of months. and the short interest now stands at 24.5%. that is the third highest in the s&p 500, so very elevated levels for chesapeake energy. take a look at navistar. this is the truck maker. the company reported it has lost -- it -- it's lost has narrowed. carl icahn is the biggest shareholder in this country -- in this company. shares are down by a .5%. finally, a check on molycorp, the heavy metals company that we have been talking a lot about recently.

business has fallen off a cliff or it according to the wall street journal, the company is set to explore a bankruptcy filing as soon as this month. at some time.n shares are down 18%. now trading at only $.34. mark? mark: julie hyman with a check of the markets and some of the movers. we have breaking news at this hour. we are learning from the greek finance ministry that they have rejected the creditors' bailout proposal and said that the postal's would only deepened poverty and unemployment in greece. this is a big story given the fact that tomorrow is the deadline for greece to make a repayment to the international monetary fund. greek officials remaining defiant today, saying they have put the proposal on the table and now it is time for the international community, for the creditors, to do their part as well. we are going to continue to follow the story. it will be on the bloomberg terminal and on bloomberg. tom. now let's take a look at some of

the other stories at this hour. subway is following chipotle's lead and going all natural. the restaurant chain is moving artificial flavors, colors, and preservatives on its menu in north america. the change will be implemented gradually over the next 18 months. subway is facing stiff fast casualfrom chains like panera bread and chipotle mexican grill, both of which tout the purity of their menus. american faro has been made the three to five favorite for the belmont stakes. he drew the number of five post position for saturday's race at belmont park in new york. 14 horses have won from gate five, including 1977 triple crown winner seattle slew. it is the kind of eye candy that is designed to stop people in their tracks. we're talking about the 1998 mclaren-1 sports car. when it goes up for sale in

august, it may bring in $12 million. buy it, and you will join an exclusive club. laurent ownedalph the same model. it looks like june is going to come and go without the fed raising interest rates, but markets are not giving up on what could be the biggest trade of the year, a detergent in fred -- in fed and ecb rates. it is suggested the euro could weaken more against the dollar. if the fed raises its benchmark rate to 3% to near 0% before the .05% rate, that would be the widest spread since the euro began trading in 1999. scarlet, this is interesting when they talk about the virgins. this really is a diversions. scarlet: it is. we are rating -- we are waiting for the federal reserve to begin raising interest rates.

we have seen in the u.s. the delay in eventual liftoff because of the week data of the first quarter. mark: and then we hear christine lagarde today say that we should hold off until 2016. scarlet: that is certainly one thing we will be exploring, talking about christine lagarde's push. mark: what is can up in the next hour? scarlet: we will talk about chinese ecf's. we, itappened since could be tens of billions of dollars chasing after chinese stocks. there could be more firepower behind it. i will speak with brenda and learn -- with brendan love her laherne.th brendan mark: why the price of many new

life-saving drugs is so high. one cure that because nearly $100,000. ♪

mark: welcome back to the bloomberg market day. thanks to two blockbuster drugs, millions who suffer from but i do see have access to a near surefire cure -- who suffer from have access to a near surefire cure. paul barrett wrote the cover story for the new issue of lumber business week magazine. -- of bloomberg businessweek magazine. thanks for joining us to why is the controversy flaring up now? hall: this is coming to bear right now because there are a number of so-called specialty

drugs, drugs for diseases like hepatitis c, cancer, multiple sclerosis, that are coming on the market with these seemingly very high prices, and the insurance companies, the benefits managers, and even some public programs like medicaid, are pushing back. we are seeing some real clashes over this. mark: it seems that gilead is pricing this this way because they can. is that the case? said, look, wes price these drugs at the same level as existing standards of care. our drugs are better, and moreover, you take our drugs for a short poem till a time and you can be cured. so you should not -- over a short period of time, and you can be cured. so you will not be in the hospital or needing an expensive surgery down the line. unfortunately because of the not

particularly rational way that our health care system works, you do not end up with the cost being spread out in a rational way. you end up with one payer being responsible for the whole load in a short toe of time -- in a short period of time. mentioned -- are there a lot of cases like that? paul: yes, there are an increasing number of cases. they involve not only private insurance but also in some cases being covered by medicaid, the less well off people, which is similarly in some states telling potential beneficiaries you're not sick enough yet, so we will not reimburse you for this drug. which is something the drug company, by the way, disagrees with. they think their drug is quite how you will -- quite valuable and should be reimbursed. mark: is anything that will bring down the cost of these drugs? paul: competition is one thing.

as the drugs come on the market, the people who pay the bills will play the companies off against each other. mark: do these include generics? no, these drugs are new, so they will be proprietary drugs for quite a while. mark: will we be seeing generic drugs in the year to come? paul: it will take some years because the companies get to market their drugs for a substantial period of years. paul, thank you so much. coming up in the bloomberg market day, christine lagarde says the fed should delay raising interest rates until 2016. we will take a close look at what is behind that request and how the global markets are reacting.

mark: it's 11:00 a.m. in san francisco, 2:00 p.m. in hong york.hat 2:00 p.m. in new scarlet: same difference, right?

this is the bloomberg market day . mark: the imf urging the fed to delay raising interest rates. scarlet: it is showtime for internet television. why the network is the latest to paul in the trent -- fall in the trend. mark: stephen curry takes the brain to the nba finals. will it be a slamdunk? -- takes the brand to the nba finals. will it be a slamdunk? scarlet: 2:00 p.m. in new york. mark: i'm mark crumpton, here with scarlet fu. scarlet: the bond selloff has stalled. it is equities turned to fall. the s&p 500, dow and nasdaq down by about