[closing bell] alix: you are looking at stocks holding onto a rally off the highs of it the day. is off by 105 points and the dow is not alone. the nasdaq closing at another record high. you've got the russell 2000 closing at another record high. and the s&p, nine of the 10 withrs finishing higher growth in the cyclical names like energy, health care, financials leading the way. and of course, you've got a crazy m&a action. they don't call it an end a a monday for nothing. joining me now is joe weisenthal, the bloomberg markets managing editor. nonetheless, the yields move higher and nobody really wanted

to be in a safe haven world. joe: you should see what happened in germany today, and over 3% rally in the back. -- in theeen pounded dax. the dax has been pounded lately, so that is a big reversal. this morning, there was a lot of optimism over the weekend they would get a deal with greece. and as soon as they all got together with the finance ministers, they said it's not there. but by the time the leaders wrapped up, you have the head of the eurogroup saying they hope to get a deal this week. there is on a lot of optimism suddenly that maybe this is the week. alix: the ecb president mario greek talking to the prime minister saying as long as you are committed to an aid program we will commit to your bank. that the banks will run out of money and sugar some kind of default by accident.

they are saying, we are in it to win it with you as long as you commit. and you saw them putting money where their mouth is with the emergency liquidity assistance get again. and it is now at about nearly 80 billion euros. at 95 billion. joe: one of my favorite things in the world is in italy they have this spread between italian 10 year bonds and german 10 year bonds. it is kind of a national a session -- a session like we and the s&pow 500. you can see this chart, and it has come down quite a bit, signaling -- we were talking today about a fear of contagion. people were selling the german bonds and buying italian bonds, a growing sign of optimism. alix: there was a great piece

out on how much you investors -- u.s. investors own of greece. it's about 25%. it sounded a lot, but it's only about $5.7 billion. -- $5.7 million. basically jetblue, live nation, and dunkin' donuts. joe: i would enjoy holding that one. ti had a note out talking about where you would see contagion, specifically talking about interest rate and turkey being one of the scariest spots because it has large risk premiums in its assets. that is where you will see the as much.urt and lisa us is michael

abramowicz. michael, are you bored with greece? michael: a little bit. it is obviously always a relevant discussion topic. this is the second sequel to the 2010 movie. the markets are certainly getting a bit bored by it. you were just talking about the italian bund spread and you see the same thing in spain. in the old days of 2010 and 2011, you see those rates government or by greece bond yields than german bond yields, and that has shifted. and you really are not shifting -- seen many signs -- you are really not seeing many signs or heavy influence of the greek drama outside of greece. alix: what did you think about the note by citi, that turkish interest rates will be where you see it happening? lisa: i think they are

scrutinizing and trying to find a angle. but i think more than that, if you look at the macro level, you've got bond funds holding the most cash since the crisis, possibly ever. and people are preparing for something to happen and do not know what the trigger is. they are concerned that they don't understand something about greece. if they don't understand either economic ripple effect that might come out, or potential exposure out there. i think the fact that citi analysts are saying, how bad would it be in places like turkey, south africa, russia? these are the places that will be most affected, not the credit rate, but the currencies in these places. everyone has come back with the same delusion, that it will not be that bad. joe: also the analysts are running out of greek monster title their notes with. to title their notes with. alix: we are looking at $4.1

which was the two dozen seven and we could exceed that this year. is that going to be a driver of the market question mark will it continue to be dividends, buybacks? i think it's one of the three pillars of financial engineering. my back, dividend hikes, or at least preserving your dividends. and of course and a day --m&a. the companies that have the cash need to deploy it. if they don't feel comfortable 3%loying it into the 2% or real gdp world, they will do what works. you cannot control the economy, but you can control those things. lisa: i am struck by the fact int m&a usually sets in later cycles. and typically this beset by debt that is still cheap.

it's the idea that something is percolating, some kind of weakness that could potentially cause the cycle to end because we are getting to later stages and you are seeing the surge in m&a. of, one thing that caught my eye with this map. i think we have it. isshows that the m&a boom not just in the u.s., but in andpe, 500 $34 billion asia, $314 billion. this is not just a u.s. mountain. it is -- phenomena in. it is happening around the world. enter your point, it's about scale. it is not like i cannot wait to grow my business in south america. it is like, i need to find a way to make money as this is maxed out on obamacare enrollment.

lisa: this is more cost-cutting rather than investment in r&d or other some kind of positive sense for the economy. joe, to your point, that chart was really interesting to me because the stimulus for the global event there, great have been low everywhere. you will have the images for companies to buy one another everywhere in the world and you will have u.s. companies looking overseas to buy other companies in other countries to get some kind of international diversification will stop -- diversification. michael: and i would add to that that the united states has technology for years now. you are seeing ceos in foreign countries catching up with the u.s. in that regard. joe: a big rally today and people are talking about when we will get that 10% correction. when is it coming? michael: i don't think it has to come anytime soon.

analystshat list of you survey. i don't think it is coming soon. i would argue the 5.5 months of what i would call august, this very sleepy pace, has technically served a lot of the same function of a 10% dip followed by a rebound would have done. effectes almost the same technically. over at rbc, they had a the twoking about things it would take to have a recession. one is an inversion in the yield curve, and what is higher wages. that means we would have a fan that would have to act more aggressively than we would think. lisa: watch the inflation numbers this week. it will be important. this is what people are wondering about. it's possibly one of the worst case scenarios if suddenly inflation does pick up and you

see the fed has to catch-up to the market. and the other awesome story of the day that we have to decide if taylor swift. alix: there was a tweet out talking about what she should take on next. it said "taylor swift is now taking on the lead in negotiating the greek eu bailout ." my iphone battery is dead by a.m.t caught a.m. -- 10:00 , that is my thing. i would want a new iphone battery. michael: she's great. what about sending her overseas? michael: i would just like to see her get back on spotify. that is what i use and i'm a taylor swift fan. alix: spotify is boring. joe: i'm just going to ask for something practical. alix: fine, back on spotify.

world peace. blog about greece. thank you for joining us. your --p, we will get president's take on when he things a deal will get done. ♪

alix: welcome back. i'm alix steel. write to some stopped tories -- some top stories is afternoon.

-- supreme court will not the justices let stand a lower kurt decision that -- a lower court decision that locked irving picard from recovering nearly $2 billion. last year, code -- customers received payouts under bankruptcy protection laws. the high court also rejected an appeal by google in a case involving a street mapping system. of infringingsed on a patent by another california company. and tesla said its lower cost model s electric car is on schedule. a trade magazine reported the model three would be delayed until 2018. a spokesperson said the production will begin in 2017. full production the following year. the tesla model three is

expected to cost about 30 $5,000 -- $35,000. climbed 5% in may. the prospect of higher mortgage rates may be driving sales. and former fed chief ben bernanke said the fed should keep alexander hamilton on the $10 bill. bernanke says we should instead andrew jackson from the three dollar bill. " andd he is "appalled adds that it is a fine idea to add a woman, but not at hamilton's expense. how close is greek to a deal with creditors? eurasia group's ian bremmer discusses the political challenges ahead. from a patriotic perspective

a response getting from the people, give them good marks. want a group exit. i think it's very unlikely, but the ability to make mistakes right up until the end to the point where anyone in europe, even that really doesn't want this to fall apart on their watch my just say, that is why the market are -- how are you positioned when it comes to greece? greece because they are at the epicenter. the bull trading with greece is the bank stocks. they are down like 70% this year. we see psi has a much better risk reward because we don't think that greece is likely to default even if they leave the euro. and if you think about it, the psi there represents less than

.5% of the stock greek debt they could easily service their debt even if they leave the euro. ian: for me, we already seeing soft capital controls in terms of banks and what they are allowing to come in and take out. the potential for soft to become harder over the next few days is , of course, growing. no guarantees. i think we are moving toward a deal this week, but no guarantees. you have to understand one of the big games being played, even bigger than the game between greece and germany is the game between alexis tsipras and his own people. his government needs to have a sense that there is a net urgency -- enough urgency that hen he finally cut that deal has to make sure that his government the fall apart. he has to be balanced in both sides and that does leave him to

want to create enough urgency that this crisis gets worse. that this economy feels a little more pain and the capital flight grows. that is the danger here. it's not that anyone is trying to engineer a way forward to leave europe. alix: who has the upper hand in these negotiations? you could make the argument that european taxpayers are on the hook or a lot of money if they be default on 300 billion euros. does greece have the upper hand? day,at the end of the greece thinks they have the upper hand because merkel does not want to see this follow part on -- fall apart on her watch. it is anyone -- if anyone is leaving, merkel is the institutionalist, the multilateralist, and blame will it place on her. in that regard, the greeks feel like they have leverage. but it is not just about merkel.

plentye seen there are of bad cops to go around in europe that are prepared to give the what for to the greeks when merkel herself is trying to actually be constructive. if you are the greek government in this environment, you have felt like you've had a bit of the upper hand in a very difficult economic position in the last few months. the closer you get to the edge, the more you alive, we are near go edge -- the more you along, you relied, we are near the edge. you are just balancing to stay on the cliff. that was ian bremmer and diego pharaoh. ♪

alix: welcome back. i'm alix steel. staying focused is not just a problem for kids these days. american adults are now the prime market for adhd drugs, accounting for 53% of the 63 million prescriptions distributed last year. and according to one drug maker, which commands half of the adhd drug market, the adult market is growing almost twice as fast of the overall market, and with more adults reporting restlessness, lack of focus, impulsive behavior, it is no surprise that it has grown to 1.4 billion dollars last year alone. or you could just get more sleep, let's copy, drink a little less, i'm just saying. -- less coffee, drink a little less, i'm just saying.

we are joined by an expert of visual displays and who is the head of display at facebook and oculus. she tells bloomberg about her first line of code. >> what excites me about the future of technology question mark i'm really excited about getting rid of the devices and just communicating directly with human thought alone. i've done some work in this area and i think it's actually closer than many people believe it is. my name is mary lee jackson. i really known for -- mary lou jepsen. i'm really know for my hardware design, but i'm probably best known for architecting the $100 laptop. my first computer was an apple when i wast came out

about 14 years old. but your smart phone is more powerful than that computer by far. but it was so cool, because you could actually slide the cover off and figure it out by breaking stuff and putting it back together again. very expensive. i really wasn't supposed to be catching it. but you know, sometimes they weren't around. code wasline of hacking a version of pong and changing the balls to smiley faces. happen, i wast to so excited. i had no idea i could change what was on this screen. i probably changed 13 lines of code and i had changed the whole computer game. the eyeball was in the wrong place and i was like, how do i move it over there? it was fun. a friend of mine said that when you look at someone's code, it's like looking inside their head.

sometimes the little scary how messy it is. is the hard coding thing. honestly, reading and writing are harder. i think everybody should learn how to code. paper andencil and they are pretty powerful, but we have computers and you can do so much more if you use the computer. if you learn how to write grants -- write programs, what you can do is profound. -- alix: that was mary lou jepson. thanks for watching. we'll see you tomorrow. ♪

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