mark mccormick writing "the u.s. dollar look cheap to the global risk events piling up and the steep fed cut pricing seems excessive. closer to the rate cuts but not urgently close as markets are pricing it to be and we are cautious of a correction." mark, you're not in consensus which is a good and beautiful thing. it is great to hear a counter argument. you see dollar strength ahead. why? >> you put together some of the pieces. the global economy is not that strong. talking about geopolitical tensions. if we take ourselves back to 2020 why was a euro weaker? why did the yen we can? currency step report energy and commodity prices do not like the uncertainty. what is very, very, very important and something we have been highlighting for months is the goldilocks scenario we have been in has been tipped over. maybe it was the u.s. employment report was the straw that broke the camels back but if you look at high frequency data in china, if you look at data surprises, data trends, data and the growth story is weaker in

coming up tomorrow, mark mccormick, matt brill, keith lerner, and matt was at eight.ttee when they get some of that criticism from politicians? annmarie: austan goolsbee was asked about this and he said that before the politics, it makes him uncomfortable and they go out of their way to not look political, which in essence feels political. lisa: which is kind of the discussion some people are having. we will continue to have a conversation tonight with the fed over on the conversation on x formerly known as twitter. this is "bloomberg surveillance ." ♪ why do couples choose a sleep number smart bed? i need it a little cool and i need it a lot of cool. we're both cool like that. sleep number does that. actively cools and warms on each side. during our biggest sale of the year, save 50% on the sleep number limited edition smart bed and free delivery when you add any base. >> futures higher after a commotion was weak. 30 minutes until the start of trading. i am matt miller. sonali: i am sonali basak. katie greifeld is off today as we start "bloomberg open interest." matt

for dave mccormick, is he going to be there on saturday with donald trump. he has appeared at other rallies with him so far. mark robinson, running for governor of north carolina, he is going to be speaking ahead of donald trump at this economy address here today. and so donald trump, this republican party is his, and there is of course concern not just about the white house but down ballot in the repercussions in 2024. >> talk about your insights on down ballot. >> i would say one thing about trump himself, though, is he's proven that he only knows how to run an outsider insurgent campaign. that was '16. he was the incumbent in '20, the victim, the legal community, now he's the incumbent again. he's hillary clinton in 2016 who is the incumbent without having any of the up sides of incumbency, to go back to the down ballot and reinforce the point, democrats were finding ways to distance themselves from biden. they have tried to carve out their own identities. tester has his own identity, sherrod brown, the republicans are all defined by donald trump save for a larry hogan in maryland, and the daughter of a long

mark robinson, they are not kari lake, they are standard rich republicans with standard rich republican positions. guys like that have been winning senate races as long as i have been a length. in recent polls, mccormickight points behind pennsylvania democratic senator bob casey. eric hovde is trailing senator tammy baldwin by seven point wisconsin. that might narrow. they are doing better than robinson and kari lake. they are very tight swing states where joe biden narrowly won. there is a deeper problem. you see it in state legislatures, in midterm elections. it is a problem for republican candidates other than donald trump not just this year, in the trump era. they have no real convincing argument for voters that they should want to be republicans and to vote for republicans not named trump. trump has sucked up all the value of the enterprise, leaving nothing for his fellow party members down ballot. i do think it could spell disaster for republican chances of taking state houses, taking was, holding the house, even wa taking back the senate. anti-johnson is a senior advisor in the 2020 biden campaign. also, we have chief of staff of jon freemon and deputy chief of staff to harry reid. adam, let m