nucleardown iran's program. we opened a new chapter with the people of cuba, brought nearly 200 nations together under a climate agreement to save this planet for our children. [applause] we put policies in place to help students with loans, protect consumers from fraud, cut veteran homelessness almost in half. and through countless acts of quiet courage, america learned that love has no limits, marriage equality is now a reality across the land. [applause] pres. obama: by so many measures, our country is stronger and more prosperous than it was when we started. and through every victory and

every setback, i have insisted that change is never easy and meet quick, and we won't all our challenges in one term or one presidency, or even in one lifetime. so tonight, i am here to tell you that yes, we still have more work to do. everyork to do for american in need of a good job or raise, paid leave or a decent retirement, for every child that needs a sturdier ladder out of poverty, or world-class education for everyone who has not yet felt the progresshkql last 7.5 years. we need to keep making our streets safer and our criminal justice system fairer, our homeland more secure, our world more peaceful and sustainable for the next generation. we are not done perfecting our union.

we are living up to our founding creeds, that all of us are created equal, all of us are free in the eyes of god. and that work involves a big choice this november. it is fair to say, this is not your typical election. it is not just a choice between parties or policies, the usual debates between left and right. this is a more fundamental choice about who we are as a and whether we stay true to this great american experiment. we democrats have boys had plenty of differences with the have hadn party -- plenty of differences with the republican party. and there is nothing wrong with

that, but we have to push the country forward. [applause] but what we heard in cleveland last week was not particularly republican, and it sure wasn't conservative. what we heard was a deeply pessimistic vision of a country where, we turn against each other and turn away from the rest of the world. there were no serious solutions to pressing problems, just a fanning of resentments and blame and anger and hate. and that is not the america i know. [applause] pres. obama: the america i know is full of courage and optimism and ingenuity. the america i know is decent and generous. anxietiesave real about paying the bills and protecting our kids, caring for a sick parent.

we get frustrated with political gridlock and worry about racial divisions. we are shocked and saddened by the madness of orlando or nice. there are pockets of america than never recovered from factory closures, men who took pride in hard work and providing for their families, who now feel forgotten. parents you wonder whether their kids will have the same opportunities we had. all of that israel. -- is real. we are challenged to do better and be better. -- travelhallenget( this country through all 50 states, i have her joist with you and mourned with you. rejoiced with you and mourned with you.

but i have seen what is right with america. i have seen people working hard and starting businesses, teaching kids, serving our country. doctors coming, up with new cures. i see a younger generation full of energy and new ideas, not constrained by what is, ready to see what ought to be. [applause] all, ibama: and most of see americans of every party, every background, every faith who believe we are stronger white, asian,k, native american, young, old, men, allight, women, pledging allegiance under the under this country that we love. that is the america i know. and there was only one candidate in this race who believes in that future, has devoted her

life to that future, a mother and a grandmother who would do anything to help our children thrive. a leader with real plans to break down barriers and blast through glass ceilings and widen the circle of opportunity to every single american, the next president of the united states, hillary clinton. [applause] pres. obama: now, eight years ago -- chanting hillary] ago, obama: eight years

you may remember hillary and i were rivals for the democratic nomination. we battled for a year-and-a-half. tough tell you, it was because hillary was tough. i was worn out. [laughter] she was doing everything i was doing, but just like ginger rogers, it was backwards in heels. [applause] pres. obama: and every time i had thei might have race won, hillary came back stronger. was all over, i asked hillary to join my team. [applause] pres. obama: and she was a little surprised, some of my

stuff was surprised. was a surprise but ultimately, she said yes, because she understood that what was at stake was bigger than either of us. i had afour years, front row seat to her intelligence, her judgment, and her discipline. i came to realize that her unbelievable work ethic was not for praise or attention, that she was in this for everyone who needs a champion. i understood that after all these years, she had never forgotten just to she is fighting for. hillary has still got the tenacity she had as a young woman working at the child's defense fund, going door-to-door

to make sure kids with disabilities to get a quality education. [applause] has still gothe the heart she showed as a first lady, helping congress push through a children's health insurance program that to this day protects millions of kids. [applause] she met with americans who lost loved ones on 9/11. in new york, she fought so hard for funding to help first responders, to help the city rebuild. as a secretary of state, she sat with me in the situation room and argued in favor of the mission that took out in lawton -- bin laden. nothing truly prepares you for the demands of the oval office.

you can read about it, you can study it, but until you have set at that desk, you do not what -- you do not know what it is like to manage a global crisis or send young people to war. but hillary has been in the room, she has been part of those she knows what is at stake in the decisions our government makes. what is at stake for the working family, the senior citizen, or the small business owner or the soldier, the veteran. and even in the midst of crisis, she listens to people and she keeps her cool and she treats everybody with respect. and no matter how daunting, no matter how much people try to knock her down, she never ever quits. [applause] that is the hillary

i know. that is the hillary i have come to admire. can say with confidence, there has never been a man or a woman, not me, not bill, nobody, more qualified than hillary clinton to serve as president of the united states of america. [applause] pres. obama: i hope you do not mind, bill. and in case you're wondering about her judgment, take a look at her choice of running mate. [applause] tim kaine is as

good a man, as humble and is committed a public servant, as anybody that i know. ann, ihis family, i love love his kids. he will be a great vice president, and he will make hillary a better president, just like my friend and brother joe biden has made me a better president. [applause] has realma: hillary plans to address the concerns she has heard from you on the campaign trail. she has a specific ideas to invest in new jobs, for workers to share in our company's profits, help put kids in preschool and students through college without taking on a ton of debt. that is what leaders do.

and then, there is donald trump. [laughter] boo, vote.: don't the donald is not really a plan guy. he is not really a factor guy, either. he calls himself a business guy, which is true. i have to say i know plenty of businessmen and women who achieved remarkable success without leaving a trail of lawsuits and unpaid workers and people that feel like they got cheated every -- cheated. [applause] pres. obama: does anybody really believe that a guy who spent his 70 years on this earth showing no regard for working people, is suddenly going to be your champion, your voice?

if so, you should vote for him. but if you are someone who is truly concerned about paying your bills, if you're really concerned about practical issues and seeing the economy grow and creating more opportunity for everybody, then the choice is not even close. if you want someone with a lifelong track record of fighting for higher wages and better benefits and a fairer tax code, and a bigger voice for workers, and stronger regulations on wall street, you should vote for hillary clinton. [applause] pres. obama: and, if you're rightly concerned about who will keep you and your family safe in a dangerous world, the choices even clearer. hillary clinton is respected around the world.

not just by leaders, but by the people they serve. this, people outside of the united states do not understand what is going on in this election. [laughter] pres. obama: they really don't. because they know hillary, they have seen her work. with ourorked closely intelligence teams, our diplomats, our military. she has the judgment and the experience and the temperament to meet the threat from terrorism. it is not new to her. our troops are pounded isil without mercy, taking back territory. and i know hillary will not destroyed.l isil is and she will do it without resorting to torture or banning entire religions from entering

our country. to is fit, and she is ready be the next commander in chief. pres. obama: meanwhile, donald trump calls our military a disaster. apparently, he does not know the men and women who make up the strongest fighting force the world has ever known. [applause] he suggests america is weak. men and women and children from the baltics to burma, who still look to america to be the light of dignity and human rights. praises putin and saddam

hussein, tells our nato allies that stood by our side at 9/11, that they have to pay up if they want our protection. america's promises do not come with a price tag. we meet our commitments, we bear our burdens, that is one of the countrywhy almost every on earth this is america as a stronger and more respected today than they did eight years ago when i took office. [applause] pres. obama: america is already great. america is already strong. and i promise you, our strength, our greatness, does not depend on donald trump.

in fact, it does not depend on any one person. and that in the end may be the biggest difference in this election. the meaning of our democracy. anald reagan called america shining city on a hill. donald trump calls it a divided crime scene that only he can fix. it does not matter to him that illegal immigration and the crime rate are as low as they have been in decades, because he is not actually offering any real solutions to those issues. he is just offering slogans, and he is offering fear. he is betting that if he scares enough people, he might score just enough votes to win this election. and that is another bet the donald -- that donald trump will

lose. it,the reason he will lose is because he is selling the american people short. people, wea fragile are not a frightful people. our power does not come from some self-declared savior, promising he alone can restore order as long as we do things his way. we do not look to be ruled. [applause] power, our: our power comes from those we hold these- truths to be self-evident that all men are created equal, that we, the people, can form a more perfect union. that is who we are. that is our birthright. the capacity to shape our own destiny.

[applause] that is what drove patriots to choose revolution over tyranny, and our gis to liberate a continent. it is what gave women the courage to reach for the ballot, and marches to cross a bridge in selma, and workers to organize and fight for collective bargaining and better wages. [applause] america has never been about what one person says it is aboutor us, what can be achieved by us together. hard, and slow, and sometimes frustrating, but ultimately enduring work of self-government.

and that is what hillary clinton understands. she knows that this is a big, diverse country. she has a seen it, she has traveled, she has talked to folks. and she understands that most issues are rarely black-and-white. she understands that even when you are 100% right, getting things done requires compromise. a democracy does not work if we constantly demonize each other. she knows of her progress to happen, we have to listen to each other and see ourselves and for other and fight principals, but also fight to find common ground, no matter how elusive that may sometimes seem. [applause] pres. obama: hillary knows we can work through racial divide in this country when we realize black parentst

feel when our son leaves the house is not that different from the way a police officer's parents feel when they leave for work. we can treat everyone in the community fairly. [applause] pres. obama: and she knows the technology problems that effexor for decades is not making race relations worse, it is creating the possibility for people of goodwill to join and make things better. hillary knows we can insist on a lawful and orderly immigration system while still seeing striving students and their toiling parents as loving families, not criminals or rapists. families that came here for the

came,eason our forebears to work and study and make a better life. a place where we can worship and love as we please. she knows their dream is quintessentially american. is the american dream something no one can ever take. [applause] pres. obama: these are the things that hillary knows. it can be frustrating, this business of democracy. trust me, i know. hillary knows, too. side refuses to compromise, progress can stop. people are hurt by the inaction. supporters can grow impatient and worry that you are not

trying hard enough, that you may be sold out. but i promise you, when we keep at it, when we change enough minds, when we deliver enough votes, then progress does happen. askif you doubt that, just the 20 million more people you have health care today. marine who proudly served his country without hiding the husband that he loves. [applause] pres. obama: democracy works, america. it.we have to want not just during an election year, but all the days in between. so if you agree that there is too much inequality in our economy and too much money in our politics, we all need to be

as vocal and is organized and as persistent as bernie sanders' supporters have been during this election. [applause] we all need to get out and vote for democrats up and down the ticket, and then hold them accountable that they get the job done. that is right, feel the bern. t(if you want to more justice in then we allsystem, have to vote not just for a for mothers and the sheriffs and state attorneys and legislators, that is where criminal law is made, and we have to work with police and protesters until laws and practices are changed.

that is how democracy works. if you want to fight climate change, we have to engage in only young people on college campuses, we have to reach out to the coal miner worried about taking care of his family, the single mom worried about gas prices. if you want to protect our kids violence,ps from gun we have to get to the vast majority of americans, including gunowners, who agree on things like background checks to be just as vocal and just as thatmined as the gun lobby drops change through every funeral that we hold. that is how change happens. [applause]

pres. obama: hillary has her share of credits, she has been caricatured by the rightr some on the left. she is been accused of everything you can imagine, and some things that you cannot. [laughter] knows that: but she is what happens when you are under a microscope for 40 years. knows that sometimes people make mistakes, just like i have, just like we all do. that is what happens when we tried. that is what happens when you are the kind of citizen teddy roosevelt once described, not dependent souls that criticize from the sidelines, but someone actually in the arena.

valiantly, who errs, but knows the triumph of achievement. hillary clinton is that woman in the arena. us, eveneen there for if we have not always noticed. and if you're serious about our democracy, you cannot afford to stay home just because she might not align with you on every issue. you have to get into the arena with her, because democracy is not a spectator sport, america we will, it iss about yes we can. and we will carry hillary to victory this fall because that is what the moment demands.

[applause] pres. obama: yes, we can. yes i can,e can, not yes, we can. there is been a lot of talk in this campaign about what america has lost. that our wayll us of life is undermined by pernicious changes in dark forces beyond our control. there is aoters, real america out there, that must be restored. idea that started it is been trump. -- politicians for a

long time, probably since the start of our republic. i thought about the story is told you 12 years ago tonight, about my kansas grandparents and the things they taught me when i was growing up. my grandparents came from a hard begantheir ancestors settling there about 200 years ago. i do not know if they had their birth certificates, but they were there. [laughter] pres. obama: they were scotch irish mostly, farmers, teachers, ranch hands, oil rig workers. hardy, small-town folk. democrats, but some,

maybe even most were republicans. explainedndparents that folks in these parts did not like showoffs. they did not admire braggarts or bullies. they did not respect mean-spiritedness or folks always looking for shortcuts in life. valued weret they traits like honesty and hard work. courtesy,iç9x%ç humility, responsibility, helping each other out, that is what they believed in. true things, things that last. the things we try to teach our kids. and what my grandparents

understood was that these values were not limited to kansas, they were not limited to small towns. these values could travel to hawaii, they could travel even to the other side of the world where my mother would end up working to help poor women get a better life. trying to apply those values. my grandparents knew these values were not reserved for one race. aey could be passed down to half-canyon grandson, or a half-asian granddaughter. they were the same values michelle's parents, the descendent of slaves, taught their own kids working -- living in a bungalow on the south side of chicago. they knew these values were exactly what drew immigrants here. believed that the children of those immigrants

were just as american as their own, whether they wore a cowboy baseball cap,e, a .r a he job -- hijab america has changed over the years. that mye values grandparents taught me, they have not gone anywhere. stillis strong as ever, cherished by people of every faith.every race, every they live on in each of us. american, what makes us patriots, is what is in here. that is what matters.

take theis why we can food and music and holidays from other countries and blended into something uniquely our own. that is why we can attract strivers and entrepreneurs from around the globe to build factories and create new industries here. that is why our military can look the way it does. forgedhade of humanity, into common service. that is why anyone who threatens our values, whether fascist are communist or jihadist, or homegrown demagogues, will always fail in the end. [applause] pres. obama: that is america. that is america. those bonds of affection, that common creed.

we do not fear the future, we shape it. we embrace it as one people. stronger together than we are on her own. that is what hillary clinton understands. this mother and grandmother, this public servant, this patriot, that is the america she is fighting for. [applause] pres. obama: that is why i have confidence that the democratic party is in good hands. office has not fixed everything.

as much as we have done, there is still so much i want to do. but for all the tough lessons i have had to learn, for all the places where i have fallen short, i told hillary, and i will tell you, what is picked me back up every single time. you, the american people. it is the letter i keep in my wallet from a survivor in ohio, who lost almost everything to cancer, but urged to keep me fighting for cancer reform, even when the battle seemed lost, do not quit. it is the painting i keep in my greene office, a big eyed wings, made by a little girl who was taken from us, given to me by her parents

show i would not forget. a reminder to all the parents who have turned their grief into action. it is a small business owner in colorado who cut most of his own salary so he would not have to lay off any of his workers in ,he recession because he said that would not have been in the spirit of america. and some of the conservative in texas who said he disagreed with me on everything, but appreciated that, like him, i try to be a good dad. [applause] it is occurred of a young soldier from arizona who nearly died on the battlefield in afghanistan, but has learned to speak again and walk again. and earlier this year, stepped through the door of the oval office on his own power to

salute and shake my hand. [applause] pres. obama: it is every american who believes we could change this country for the better. who have never been involved in politics have thethe streets and used internet and amazing new ways that i did not understand, but made things happen. you're the best organizers on the planet, and i am so proud of all the change you have made possible. time and again, you'll picked me up. but i hope sometimes i pick you up, too. [applause] pres. obama: and tonight, i ask you to do for hillary clinton what you did for me. her the samecarry way you carried me because you

are who i was talking about 12 years ago when i talked about hope. it has been you who fueled my dog and faith in our future, -- faith, hope in the face of difficulty and uncertainty, the audacity of hope. vindicatedu have that hope these last eight years. and now i am ready to pass the baton and do my part as a private citizen. so this year in this election, i am asking you to join me to fear and a summon what is best in us to elect hillary clinton as the next president of the united states. and, show the world we still believe in the promise of this great nation. thank you for this incredible journey.

let's keep it going. god bless you. god bless the united states of america. >> the 44th president of the united states, barack obama, making his best pitch for , hillary clinton. his remarks really show the division between the characterization of america between the democrats and the republicans. where we heardt from democratic speakers ranging from joe biden and many, many others. candidate was not the , he attacks him very clear, coming from barack obama in this speech that lasted close to an hour. he challenged trump and

basically said, hey, don't boo, vote. that was a very interesting moment, to be sure. donald,donald trump the and, there you go, hillary clinton surprisingly joining barack obama. this is a late-joining of the tonight at the democratic convention in philadelphia. this was not planned. we learned very, very late in obama's speech that she was going to appear on stage, and to the roar of the crowd, you can the 44th president of the united states right there, barack obama. and hillary clinton hoping to become the 45th. obama said a lot has changed during his presidency, but that america was doing well, and that the economy is recovering, lots

of achievements. but of course, america is challenged to do better. also addressing the terrorist threats we have been seeing around the world. clintonng that hillary is going to be the best commander-in-chief to address the isil problem, that she will without banning an entire population for the united states or resort to torture. let's go straight to kevin's a in philadelphia. what was your take away? >> this was a president who eight years ago came to deliver a speech on racial unity. he now finds himself eight years after campaigning on a message of hope and change in an election for his predecessor that is really being fueled by anger as well as a wondering as to the pace of the impish

economic recovery. this was a president who delivered for hillary clinton. he said there was no better qualified candidate for president, man or woman. and of course, a hug at the end of the speech from hillary clinton, as well as barack obama. the journey they have taken together over the last eight years really culminating in a moment tonight. many would have found it hard to believe just eight years ago. >> united on that stage, we heard from obama tonight about tim kaine. that is a man hillary clinton has chosen as her fries presidential candidate. talk about him tonight. this is his first big speech as vice presidential nominee. >> tim kaine talking about his experience in the senate as well as governor. and he made a pitch directly to

hispanics, speaking in spanish. he had the crowd chant in spanish, as well. this is someone you many in the progressive base are not completely satisfied with. there were supported in the crowd for bernie sanders chanting against the transpacific partnership. this is a key division point within the democratic party, and one at donald trump has also come out against. as of the battle lines still drawn clearly on that issue. but clearly, democrats tonight trying to project unity and again, a surprise moment when hillary clinton and barack obama were on stage together. real clearaid, some attacks on donald trump, including some from joe biden. his choices image very interesting, malarkey, he said. bidenvice president joe giving them what they want. he grew up in scranton, not far from here.

but you have tonight the democratic party trying to project that unity. and then, that hillary clinton moment. thisre trying to frame with donald trump, that his rhetoric and divisiveness is not something that is a need of the country. but if you look at recent polling and independent voters, are they looking for a message of hope and change, or are they looking for an outsider. republicans are you trying to frame this is the ultimate insider. she has been part of politics for 40 years. there were some yelling and heckling during obama's speech. i could not make out what they were saying. i did make out, no tpp. was anything else yelled out?

suite, we hadour bernie sanders supporters holding signs, and tomorrow we will be hearing from hillary clinton herself as a she formally addresses this convention hall. -- will have to make that make an effort to unify the party and bring in progressives who are not only upset about tpp , but tim kaine, who they argue is not progressive enough. but our shout out to bernie sanders. and president obama at one point -- said feel teh bern. >> was there a bigger sense of unification? i think you really saw this one president obama stood up there on the stage, talking about the message of hope and

change. then, when you look at how battle lines were drawn eight years ago, and even to some extent for years ago, and how this election is being framed, most americans are not satisfied with the choice between hillary clinton or donald trump. so tonight to hear president obama speak and reiterate his original campaign message in a city where he gave arguably one of the best speeches of his lyrical career as a candidate, trying to racially unite this country, we now find ourselves in a time where racial division -- has been exacerbated. to hear that message, i think really sets the stage for what hillary clinton have to do tomorrow night, not just unite the party, but make a direct pitch to independent and moderate voters, many of whom are just outside this city. there is no doubt that barack obama is one of the best or raiders. i remember when he was a junior

senator, stumping for john kerry, versus george w. bush in cleveland, and boy, he was lightning in a bottle. of course, the question is whether voters have agreed with his accomplishments over the past eight years, and certainly, you're seeing in the polls right now the donald trump is taking the edge or taking the lead. thank you so much for that. he is at the dnc in philadelphia. you're watching "asia edge." ♪

>> welcome back, you're watching "asia edge." let's update you on the market, all eyes on boj's decision tomorrow. right, thethat is boj meeting today, there is a lot of pressure for the governor to come through. a lot of economists saying he

could boost asset purchases and lower the negative rate. timing the market yesterday with it that $255 billion stimulus package. the upside in the yen weighing on the nikkei today. the shanghaieeing asian market, down .6%. hong kong had an interesting session, they tried to rally about an hour and a half ago, heading into their lunch break. we are seeing changes in property stocks, but crude nearing a three-month low, impacting a lot of those energy players. looking at the other resource .4%, youustralia up can see all top three performers chart with the commodity rallying. new zealand coming off his record highs, it is down a 10th

of 1%. having a look at some of the major movers, it has been very busy in terms of earnings, we had nintendo after the bell yesterday. their share prices falling, their first quarterly loss wider than what the market was looking for. that did not include the effect pokemon go has had on the company. up almost 11%, a 62 percent drop year on year in there quarterly profits, but that was better than what the market was looking for. waiting for softbank to come back after the bell, they are down at the moment. some analysts saying there could be upset, particularly with business and waiting for more clarity on that holding acquisition. angie: let's get back to markets right now with our next guest who has decided to reverse his bearish calls on asia. bank ofe head of america merrill lynch.

at a time when people are feeling a little bit bearish, you're reversing your call, yet sentiment right now is about volatility. ini changed my view back february come on a structural basis in march and april. this is a long-term call. i think most of our clients are underweight in emerging markets in asia. there is disappointment in general, bad politics, and this is well known. i think the biggest mistake investors will make in the next three to five years is to continue with that pessimism. a better idea is to be pessimistic five years ago, but now it is too late. why am i bullish? s&p values look pretty good. the earnings expectations are finally really very low. analysts in asia are expecting 0% growth. i think we will do way, way

better than that. angie: of course you're going to do better than that if you expect any growth. there is some upside in any upside. >> i think for the last five years, analysts every year 15% eps, but now we have 5%. if they are going to be theletely wrong, i think margins will be a lot better and the terms will be better. i think china was supposed to blow up, but it has not, and i think it will not be likely to, either. angie: if stabilized somewhat and is trying to feel recovery through liquidity and credit. at some point, you have to pay the piper. >> we've been hearing about this for a very long time. my objective is to make money rather than be a philosopher. athink it is good to be philosopher after a few drinks, but in the markets, you cannot

be that way. angie: until something happens, a trigger event. >> you look at japan, for 25 years it muddled along. then, it just blew up spontaneously. sheet inhina's balance the profit sector are troublesome. and then, we think about the copper bond yields in china. the epamer it was 13%, was minus six. now, down to 5%. still massive, compared to negative. >> 5% real yields is equal to real gdp growth. i am not saying all the problems in china will be resolved, but certainly, cyclically, things are better. there will be a wealth of fact, they are using monetary policy, and this -- people of not finish

this properly. angie: make money where? difficult, is are think defensive sectors have done well, u.s. bonds have come down. people wanted safety in a bear market. and i think things have changed in the last two or three months. buydvice to our clients is, some cyclicals, some materials, some industrials. add inflation picks up, it will do better. angie: can i ask you, donald no tpp,illary clinton, do you think that affect what impact your more optimistic call? tpp will benefit primarily them,. angie: and japan.

>> yes, you're right. but it is on the margin. a little negative, but not a big issue overall. angie: thank you for your patience today as we stepped through that dnc speech with president obama. head of global emerging markets strategy, thank you so much for that. bloomberg markets middle east coming up at the top of the hour. what you have for us today? have a jampacked show for you, starting off with developments in egypt, where stocks have been soaring, over 4.8% off the back, news that an ims deal was close to a multimillion dollar loan. we will have the full story on that, and a perspective from the head of fixed income research. andill talk gulf credits, the managing director -- joined

allocationt strategies. stay tuned. ♪ e

♪ ♪ >> egyptian stocks rally the most in the world as negotiations over the imf loan reached the home stretch. obama backs hillary clinton to replace him in the oval office. yusef: turkish investment fund just is stripped of his license. angie: