matt: that was a vanguard ceo bill mcnabb. until earnings are coming up.s is bloomberg. ♪ matt what you -- joe: what'd you miss? whoever wins next months election, the path towards passing your deals may be difficult or undesirable depending on who wins. this is the number of mentions of the word "isolationism" going all the way back to march 2000. it flows of every once in a while, not really surprising. peopleperiods of stress cite our country is going to be engaged in a new round of isolationism. but look at the popularity of brexit, donald trump -- you see a surge in the story count. the idea that countries will retreat from globalization, from tariffs and barriers, becoming a bigger story in the world. matt: that is interesting. later on i am a chart from the philadelphia fed showing how much partisanship has flared up. right here i have a great chart put together by dan curtis, one of our producers at bloomberg. what this shows use the drag or boost to cpi that you have from these three different components. in purple uc energy -- you see energy. the

that is bill mcnabb, the ceo of angered.hat is whytter and more and more investors are migrating to those products we have been talking about. jonathan: great interview. coming up right here, the airline originally holding on -- holding out revisions in the wake of a referendum. cutting is forward guidance. finding out how much, next. this is bloomberg. ♪ mark: i am mark one. matt: -- mark barton. matt: i am matt miller. economists are taking mark carney at his word. days ago, mark carney said he will tolerate faster price gains now according to a new bloomberg survey. more than 70% of economists say policymakers will cut the benchmark interest rate to a record low of .1% xmas. ryanair is cutting profit guidance. full-year earnings are likely to increase by 7% instead of 12%. the reason is the drop in the pound, lamed on the brexit vote, will have an impact. that is your business flash. back to you, mark. oil prices ahead, fluctuating today. we will get more insight on where they are headed next. this is bloomberg. ♪ ♪ opec

dallas bill mcnabb talking with erik schatzker. we talk to barbara corcoran and explains a rise in spending by chinese investors. this is bloomberg. ♪ scarlet: this is bloomberg markets. u.s. earnings season is in full swing and there is one clear trend. fixed income trading is surging. gratifies lloyd blankfein strategy as some other investors pulled back. let's take a look. goldman joins jp morgan, citigroup and bank of america blowing past fixed income trading. they reported gains of almost 7% increase in earnings. and this is because they rely on trading more than any other big bank. it made up about 45% of goldman's revenue the last 2-3 years. sales and trading is the most important segment when compared to other business lines. it management is a redline. so here's the breakdown of the trading division. fix income is the white line and you can see the bounceback over the past two quarters. in the second quarter and up 49% last quarter. this is good news for goldman after revenue fell by half last year compared with 2009. this