em bonds, em duration. like always, if you are getting a selloff in u.s.cks, you are getting a scare in em. but i think it will be a playbook very much like 2007. to panicut, starting about the economy in september by 50 basis points. .quities kept rallying in em markets peeked out august 2008, 10 months later, before they realized how bad it was, and then started selling off. i think it is going to be a jagged move, but as stocks start turning over in the fourth quarter this year or in the next couple of months, i think you em rallysee the continue until they realize the growth problem. currenciesis the em driving a lot of the gains. you will get the yield move as well. there might be a little more of a risk premium, but you get the fed yields lower counteracting that risk premium. guy: how much headroom in u.s. stocks? they are kind of hitting all-time highs now, the seventh time we've seen a high this year. howdy more days are going to get like that -- how many more days are we going to get like that? mark: this could keep going a couple more weeks. in

em is another manifestation of that phenomenon. if you really have to go yield, they will go em.f u.s. yields go up a lot, they probably forswear it. jonathan: do you share that view? kathy: yeah. we are not enthusiastic about em here, because we don't see the dollar moving a whole lot. we are not dollar bulls anymore, but we are not bears on the dollar. it's a countercyclical currency. it should drive e.m. to better returns. but there is enough problems in e.m., and the yields are low. jonathan: kathy june sticking with us alongside mike shoemaker and matt hornbach. still ahead on the program, i want to get a market check. treasuries look like this on the week. up on the 10 year by eight basis points. up on the 30 year by 10 basis points, a lot of that coming on thursday. 2.65, your yield on the 30 year treasury. still ahead, the week ahead, featuring a slew of economic data and fed speak. that is coming up next. this is "bloomberg real yield." ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." time for the final spread. coming up over the next week, we get a load o

jorge: and 2/3 of 'em are all friends' kids. it's pretty amazing.it's awesome when you see, you know, 23, 24, 27-year-olds and you knew them as babies, and they, you know, and they've grown up at chacho's, it's awesome. damian: all right, well, both chacho's and maldonado vineyards will be at sabor del valle, and there is the information on your screen again. july 19, starts at 6:30 at the mexican heritage plaza, open plaza, pouring wines from napa valley from all of our latino vintners. we'll have more. stay with us. ♪ we were--jorge was talking about the dirt under your uñas, and that's so true. being that you are, or you were a campesino, does that give you, not that you need it, but more appreciation for what your workers do at your vineyard? hugo: definitely, definitely, like i was telling you earlier, we are campesinos. i grew up working in the vineyards. my father still works in the vineyards, and he came here as a migrant farm worker. so, we know what it is, how hard the labor is, and we appreciate the labor that our community, our people do

>> i think em will get a lift on a rate cut.n see the em, we drifted etf trades, maybe from 4250. but 45 is a big resistance for eem. they have been underperforming s&p. i think they will continue to because they have a relative chart pattern that looks still bearish. yvonne: thomas, thank you, as always. thomas schroeder joining us from chart partners. congratulations, juliette saly. it is 2-0 right now i think between you two. [laughter] see the charts featured on bloomberg television, catch up with key analysis, and safe charts on the bloomberg. this is bloomberg. just kidding. [laughter] david: we are watching out of the boj as well. exclusive.o this we were speaking with the mexican president here about schroeder.thomas he said his country actually need to lower rates, but he adds that he does respect the independence of the central bank in mexico. he spoke with our editor in chief in mexico city. have a listen. one thing is what's to be desired, and a different thing, what is possible. i would like the central bank not onl

italy is behaving like an em bond, and it should. it is riskier than many things in em.ut the problem is, the way that markets are set up, investors look at things in the developed world and then the em world. i can guarantee you if it was an em credit, people would not be buying it as much. the market is oscillating here between, is this a risky asset, which it clearly is, or is it more of a risk-free asset because it is a government bond? jonathan: hasn't that been the last story for the last six or seven years for italy, that it has been trading like a credit, not a sovereign? do you think that people will start to look at it differently now? gershon: some people are looking at it differently. the point that you started the conversation with, people need yield. people are going to convince themselves that yeah, these are all long-term problems. by the way, the u.s. is the same way. at the end of the day, put aside trump's tweets today about how we should be paying much lower s, that is always fun to talk about, but the reality is, you look at unfunded liabilities, som

mike: probably depends on how much em yields go up. people feel desperate.e talked about high-yield in europe. em is another manifestation of that phenomenon. if u.s. yields go up a lot, they probably don't. kathy: we are not enthusiastic about em because we don't see the dollar moving a whole lot. we are not dollar bulls anymore but we are not there is on the dollar. countercyclical currency. it should drive e.m. to better returns. there are enough problems in e.m. and the yields are low. still ahead on the program, i want to get a market check. like this on the week. up on the 10 year by eight basis points. by 10 basis year points, a lot of that coming on thursday. 5, your yield on the 30 year treasury. coming up, a slew of economic data and fed speak. that is coming up. this is bloomberg "real yield." ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." coming up over the next week, we get a load of data from china. industrial production, retail sales results, and a little bit of gdp. wednesday, g7 finance ministers and central bank chiefs meet

>> these cost me about--i think they're $2.30 and i sell 'em for $3.25.hese are $4.50 and i sell 'em for $5.50. >> the retail margins on these products are not great. they're between 20% and 25%, but they take up the vast majority of the floor space in the store, which is supposed to be a specialty pie shop. can i try the pie? >> sure. >> this is just a--this is the basic deal? >> just basic slice of key lime pie. >> what are the ingredients? >> we have the sweetened condensed milk. second ingredient would be the key lime juice. comes in 1-gallon pails. it's already reconstituted, and we put a wet topping in there, which gives it the creaminess. it's actually the same topping that's on top of the pie. we put that in there and it fluffs-- >> in the actual-- >> in the actual pie itself, yes. >> and what is that made of? >> that is a powdered product. >> i was really surprised to find out that jim's pie is made with a pie filling from powder. i would have thought that an award-winning pie would have natural ingredients. >> our retail price for the pie is $18

as commodities go, so do em earnings.tion, sure, by consumer staples and companies, do we want to buy a barley or do we think rio and bhp are going to go 2x? so in those sectors, we will see the accrues diminish. for: thank you very much joining us, the deputy head for global microstrategy at ubs. a great day to get his insights. a fed rate cut is all but certain but that could all change when the u.s. a jobs report. dani burger was saying this is very important. the strays too far from consensus, he could send analysts scurrying to adjust outlooks. with just how crucial this is, here is bloomberg's dani burger. the jobs report will be one of the most important data points considered by the fed as they mull interest rate cuts. that is especially on the heels of the weak may numbers. so there are a lot of moving parts, but broadly, there are three scenarios we can break down. so the first scenario, we could get a blockbuster report of gains topping 20,000. employment drops and wages exceed forecasts. in that case, bank of

but when you think of where money is coming from and we talk about em, that is a huge base of em investorsrtainly in terms of new interest coming from europe. so the ecb may be more influential in terms of the direction of flows or more flows coming to em from europe. francine: this is because of negative yields? i have a great chart looking at the global bond rally driving these negative yielding bonds to record highs. that is money that is going to em because they are looking for yield? yacov: inevitably, some is. some are staying at negative yields. there is definitely a push and pull. the full of em higher yields and decent fundamentals, and a push out of negative yields in europe. it is a mixed bag. trend.nd is a slow i don't think there are people still jumping in wholeheartedly. there is a lot more interest around em on the back of what is going on. francine: how should and we china? yacov: check -- francine: how should i read china? yacov: china is in a long protracted trade war. back tomorrow, is there a looming crisis, no? is there a cyclical decline in chinese growth, yes. em ma

a very busy em baker darrow station. i'm live in san francisco, lyanne melendez, abc7 news. >> thanks a lot. just about anyone who drives along interstate 80 in albany has seen albany park hill. it sticks out amidst all the buildings in that area. what many people don't see is a 20-foot cross in the middle of the park. it's been there actually since 1971. but now there's a new wrinkle over whether it should stay because it sits on public land. news anchor eric thomas is live in albany tonight with the story. eric? >> reporter: dan, if you're willing to hike about 200 yards up this dirt path here in albany hill park, you can get an up-close and personal view of that cross. here's one thing everybody involved can agree on. nobody expected this to get to a federal appeals court. >> this cross display violates three separate constitution the prohibitions against government against religious. >> before the ninth circuit of appeals this morning, the city has been locked in a legal battle over this cross which sits on public la

do think it's fair to make jokes about him >> leave 'em alone poor guy he's just trying his best.nd kissing babies is get home, turn on the tv and see you taking him to task leave 'em alone! [ laughter ] >> seth: i'm sorry, sir. are you a joe biden supporter? >> if i'm a supporter of anything, it's kindness. compassion not mean-spirited jokes. if you have to make fun of somebody, make fun of me >> seth: sir, i don't even know you. why would i make fun of you? >> well, you could make fun of the fact that when i wake up in the morning the first thing i do is pee then i get out of bed and change the sheets [ laughter ] >> seth: i don't want to make fun -- i usually tell jokes about people who are in the news, people like joe biden. >> oh, sure. make fun of joe biden. have your fun. go ahead and say that when he smiles you can see his teeth from space [ laughter ] >> seth: that's not nice >> i know. so leave him alone >> seth: i would just love to get back to my jokes if you don't mind >> want something to joke about? how about this you can make fun of the fact that i have such bad cr

. -- resemble em a little bit more. was said they could no longer emarate dm economies from based on the strength of institutions. is that something you would agree with? mark: it is a difficult problem. think about it. alibaba, where is it listed? it is a huge company. is it an emerging market company or not? these are the issues that are difficult to untangle. the reality is if you separate the emerging market countries and the developed market countries, what we normally think of as china, india, south , those arezil growing at double the rate of the developed market countries. the argument for emerging market is still out there. salients becoming more because so many people have gone into etf's. everybody has indexed or is tied to the index to the big stocks and they are asking maybe i am taking too much risk of being with this crowd in the big stocks. maybe i should go into a more actively managed fund or an emerging market fund which will give me diversification. that is what is happening now. anna: that was mark

three lifelines are up there, if you need 'em.ke some money. >> okay. >> let's play "who wants to be a millionaire." it starts off with a $500 question. here it is. the book "wilderness camping & hiking" says a small mirror can be key to survival because a lost explorer can use it in the daytime to do what? [tense music] ♪ >> i mean, i think squirrels are pretty adorable, but i think the answer is signal others with sunlight, so c, final answer. >> of course, that seems to be the best use of $500. second question, worth $1,000. neurologists think we have over twenty, not including seeing dead people. what are they? >> feet would be pretty crazy. um, but, i think that's-- pretty sure the final-- [stammers] oh, gosh, b, senses, final answer. >> that was the one we were looking for. that's right. [dramatic musical flourish] all right, that got you to $1,000, this will get you to $2,000. which city is nicknamed the "cowboy capital of the world"? >> so i know it's not palm beach, florida, or newark. [tense music] ♪ um, let's--you know

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the three lifelines are there if you need 'em. your bank is empty. let's fix that.ts to be a millionaire." [dramatic musical flourish] $500 starts us off. good luck. >> okay. >> hoping to evoke images of the ivy league, what famous fashion retailer was named for a preppy sport with an initial added because it looked nice on the page? >> i haven't heard of any brands called r. horse jumping, w. croquet, or a. lacrosse, so i'm gonna go with b, j. crew, final answer. >> i love it when they just spray cologne in your face. yes, that's right! [applause] >> all right. >> $500--let's go for $1,000. >> okay. >> which of these was the name of one of rome's most legendary gladiators and not one of the "american gladiators" from the '90s tv show? >> those are some pretty creative names up there, but i definitely remember reading about spartacus, c, in high school, final answer. >> i miss that show so much. yes! [applause] $1,000. third question's worth $2,000. several u.s. presidents served as cabinet members before becoming commander-in-chief. five of the first eight presiden

we have not met with ems officers. interviews for our support services assistant deputy chief are this week. chief rivera will be leaving us in august, we have begun those interviews yesterday, today and we will continue through the week. we should have a decision hopefully very late, on friday. once you complete that there is another position that needs to be filled in support services, the water officer. we will do interviews for that as well. i am currently working on i will follow-up up with you all on my department head performance plan. it goes to the mayor, they can't really do an appraisal of being over the last year because i've only been chief for a couple of months. i will let you all know what my priorities are moving forward, and what i think we could get done this year. we will get that to you shortly. i believe it is due by the end of the month. the budget; hopefully it will be signed in early august yet with the new positions we have gotten , we have already started the footwork for hiring those new pos

on immigration it's pretty close now to let 'em all in and give 'em all free health care as opposed toity with legal immigration. there's other examples you can give. how do you explain this turn left? >> i think that the democrats are misreading anti-trump sentiment and seeing it as a green light for every progressive idea they've ever had -- paul: but these aren't -- these are smart people. [laughter] why would they be doing this if they can read the polls and the public would be with them? >> because i think, you know, nancy pelosi may be the head of the democratic party, but the person or the people with the will in the democratic party now are the progressives. and i think they are running the show, and their agenda is getting played up not only in terms of congress, but also in the media which i think is giving them a lot of fuel here. so that is, i think it's a poorly thought out strategy because i don't think that that is where most democrats are, let alone most americans. but right now it is the progressives that are ascendant on the left. paul: how much of this is due to bern

vonnie: is there somewhere you can hide out in em until all of this goes away?k em fixed income markets are reasonably well positioned where the fed is likely to ease and we don't think u.s. yields rise much from here. they are probably more likely to decline modestly. we think the dollar could ultimately weaken because the u.s. economy slows more in the second half of the year. marketsthat sets up em reasonably well in a comes in the context were other things look challenging. we moved equities globally to underweight couple of weeks ago. i think that's based on the view we think the risk reward is just poor on a tactical three-month basis and a more strategic twelve-month basis. fixed income markets are one of the ones we can still follow for suggested return. vonnie: thank if your time today. it is time for another highlight from her interview with secretary of state mike pompeo who spoke with david rubenstein at the economic hub of washington, d.c. and discussed kim jong-un and much more. >> he is right. he has managed to rise to the level of leadership in a

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bondseople talk about em at the moment.n the scenario you are describing, em credit should do relatively well. is that the right trade? komal: em trade looks good over the next six months, the same thing is that about u.s. equities and the reason is if you have a great cut, that is going to be positive for emerging-market debt. this week, emerging-market onset -- bonds benefited immensely from european yields going down. european bonds behave the same way as the italian paper has done over the last three or four days in terms of going down. they have similarities in terms of characteristics. look ahead one year -- 1.5 years, you're looking at may 20 22 band of 2020. i do not think the fed can sustain the economy. you are seeing the beginnings of a recession middle of next year. that will not be good for emerging markets. that will be an interesting scenario for the president. he will not be confident on his election prospects if he starts in a recession. stick around. komal sri-humar is going to stay with us. let's talk abo

that space tends to be more liquid in the em space. 10 year yield differentials tend to benefit e.m.'s a lot more on the way down from the u.s. peace because this picks up by entering into the em space. the corollary to that is that we find a very quick steepener getting into play which we saw currencies suffering the worst. we are looking at the rupee, the pesto. if we get a flatter, good for them. if we get a steepener, that's not going to be good for them. the two-year differentials are quite nice in tracking out the dollar index against the majors. the sense is that even though there's a gap there, the downward bias to the yield gap in the two-year with the other majors suggests that the dollar is not going to rise in any rush. they are focusing and it's a huge challenge for the ecb and the boj to pull out bigger stops. seen that have strengthen some of those em currencies like the rupee. will they give enough room for b.i. to cut this week? >> for us again, we think be i will cut this time. certainly gives them a lot more cushion,

- take 'em all, bro. - [laughs] - that's yours. take it.ong-- it doesn't have a bridge that helps to rise the action up, and this is a action film. we need that--that moment in the song. hey, steve.so cgratulat. you'll be working with one of these lovely producers. - y'all, i can't wait. thank you so much. i'm beside myself, and i can't wait to see what happens. [applause] - oh, i love this. - you like it? - i love this show. - this whole process is so fun. - this is everything i've imagined and more. - it's awesome. - ♪ the edge always got the best view, ooh-ooh ♪ - remember, don't say "ooh-ooh." - don't do that part? - yeah. - ♪ somebody call for a hero? ♪ ♪ here i am - we wanna be in "hobbs & shaw." - i feel real connected to this on piano. - ♪ don't matter where we came from ♪ - i want it to be synth with electric guitar. - ♪ i'm just getting started - to see this songwriting experience, kind of just blown away by it all. [[airpod case clicking open]g] hey siri, play me something new. ♪ music playing ♪ ♪ it was just past one when two th

i like to em a lot better six month -- i liked em a lot better six months ago.hink people will continue to find value in emd. vonnie: jim, thanks for all your time today. anderson'sus global head of -- janus henderson's global head of fixed income. new greece electing its p.m. with a stock market that is soaring. the banks really driving higher. ahead. that story if you are a bloomberg terminal user, you can find all of these fantastic charts at gtv . find them on your bloomberg, pop them out, put them into a presentation. . go on. this is bloomberg. ♪ ♪ vonnie: it is time now for your latest numbered business flash -- your latest bloomberg business flash. it's been a while since wall street has been the step at about apple. five analysts -- has been this tepid about apple. morgan stanley has downgraded its view of large-scale banks. the group has rallied 23% this year, but a new note cuts the view from attractive to in-line. wereellon and state street also downgraded from overweight to underweight. morgan stanley is forecasting lower growth for the banks. t

you want to let people have their ideas and not shoot 'em down.ay actually just get a heck of an idea out of it. i wanted max to understand that. you changed that to clean evolution? taylor: uh, yeah. max: you know i hate clean evolution. what do you think of the name, clean evolution? taylor: um, i think it could be interesting. how 'bout that forward-looking tub? it was a pedestal tub, but it wasn't so stuffy. so we can print this and mock it. taylor: yep. lemonis: this is just a mockup, just an idea. so, pluses and minuses for the change. max: i mean, i see all minus. lemonis: all minus? max: yeah. because the name, obviously, and the bathtub straight on look like a muppet. it's insipid. taylor: that's a little confusing. i like the idea of going with a bathroom-related icon, makes a lot more sense to me. max: i just can't get past the icon. so, to me, this would be, like, a mies van der rohe chair in a castle in scotland. it doesn't -- it looks weird. lemonis: a mies van der rohe chair? in a castle? in scotland? i don't know what that is. whic

drivers get promoted come on em yeah. but elmo is a historian. he's the author of a book about coca-cola a best seller it's retraces the multinationals and time environmentalists strategy particularly from the sixty's on woods when past it began to revolutionize consumer society we begin to see massive amounts of litter piling up around the country coca-cola trying to respond to this wow we're getting blamed for all this aluminum waste all this ultimately plastic waste what do we do and one of the things they did was partner with a organization called keep america beautiful what. you hear keep america beautiful you think like wow this sounds like an organization started by a bunch of kind of bearded environmentalist or at least that's what i thought. you know because you see the sign everywhere in the united states is still a very present organization but it was founded surprisingly by the beverage brewing in canning and packaging industries right the idea was that let's tell consumers there are the bad ones they're the litterbugs they're throwin

italy is behaving like mgm bond, em bond, and it should.he problem is, the way markets are set up, investors look at the developed and em world. the market is oscillating here between, is this a risky asset, which it clearly is, or is it more of a risk-free asset because it is a government bond? jonathan: hasn't that been the last story for italy the last few years? our people starting to look at it differently now? gershon: some people are looking at it differently. the point that you started the conversation with, people need yield. people will convince themselves, these are long-term problems. by the way, the u.s. is the same way. put aside trump's tweets today, but the reality is, you look at unfunded liabilities, somewhere around 100 trillion. jonathan: 35,000 years to get to a trillion seconds. gershon: we are all convinced the dollar is the safe haven, the u.s. will find a way. we kind of miss the point when we talk about what is going to happen into two weeks with rates. we have a long-term debt problem around the world. we will be

the three lifelines are up there, if you need 'em along the way. you ready to roll?>> let's play "who wants to be a millionaire." [dramatic musical flourish] matt, good luck. $500 question starts us off. >> all right. >> according to a common saying, "the proof is in the" what? >> i like to eat all of those things, but the answer is a, final answer. >> the proof is in the pudding. of course that's the old saying. let's go for $1,000. >> let's go for $1,000. >> most early ones were named for big cats, but recent versions of apple's mac os x operating system have been named after grandiose natural features, including all but what? >> uh, [laughs] the answer is d, tim cook's 12-car-garage, final answer. >> yeah, not one of 'em yet. that's right. >> someday. >> second question, don. third one worth $2,000. to locate earring backs or other tiny items lost somewhere on the floor, "good housekeeping" suggests putting pantyhose over the end of your what? >> [laughs] i'm gonna have to try this next time we're cleaning the house. that would be c, vacuum hose. >> final? >> fina

mark: probably em duration. guy: how does that protect me? mark: in the initial phase of risk off, i think the odds are you get a little bit of pain in em, but ultimately people realize the structural imbalances aren't in em that there were before. actuallying system is much more concentrated than the u.s. the real financial problem will again be in the u.s. guy: where does that leave europe? mark: kind of permanently disappointing. that they are planning to provide more easing and will probably go towards qe again. guy: if the fed doesn't have the ammunition, the ecb really doesn't. mark: no they don't. i thick the plan would be pray and hope. guy: that's not realistic. if the u.s. is going to deliver fiscal, is there any hope that europe delivers the fiscal. , if you areermany not bothering -- if you are not borrowing now, when are you borrowing? now is the moment. is there any realistic prospect that fiscal is going to rescue europe? mark: certainly that is the argument, that german fiscal stimulus will come through in the next year. there

three lifelines are up there if you need 'em. the bank is empty. let's fill it.[dramatic musical flourish] ♪ good luck. $500 question starts us off. [applause] in his nomination acceptance speech in 1932, franklin d. roosevelt famously said, "i pledge you, i pledge myself, to a new" what "for the american people"? >> you know what? as fun as the jay-z album option is, i'm gonna say a, deal, final answer. >> a new deal. that's right. good for $500. good start. here's your $1,000 question. ♪ doing it over 200 times since the 1940s (and not afraid of the needle), 95-year-old beatrice "granny bea" janyk is known as canada's oldest what? political donor, blood donor, food donor, organ donor? >> all right, i don't think you be an organ donor 200 times, so i'm gonna go with "b," blood donor. that's my final answer. >> of course. blood donor. 95 years old. [applause] $2,000 question. ♪ the advertising for which of the following often features the tagline, "as much fun to make as it is to eat"? >> all right, i think that you would stand by a microwave watching popcorn pop

ben kill 'em and has been releasing orphaned bear cubs for 20 years. >> i knew she was trying to returnrange is much smarter than they think. >> they recognize their own image. >> that's self-awareness. >> he ufshlly takes in eight cubs a year, due to the food shortage that caused the mommas never returned to their cubs. ooze for me, this time, she doesn't appear to be causing problems. that's because they are following a few bears out for bears. >> don't put your bear wants there. >> reporter: no one wants that p thank you reid, hanover, new hampshire. >> we have krispy kreme at the honor. >>> that's the overnight news for this tuesday. for others, that was "the cbs morning news." from the blast calendar in new york, i'm melg oliver. captioning funded by cbs >>> it's tuesday, july 2nd, 2019. this is the "cbs morning news." playing with fire. president trump is putting pressure on iran after iran breaches a nuclear deal. >>> border control agents accused. an offensive facebook page is discovered and reports of abuse at a facility. >> these women were being told by cbp officers to drink

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fire and ems says ambulances are being diverted away from those hospitals because they are on backup power. numerous intersections like i said do not have power, so no traffic lights are working. some of those have traffic controls. people out here directing traffic. but there are many intersections where no one is there. so again, you have to treat it like a four-way stop. the outages are generally affecting woodley park to shaw and many areas in between, including u street. we did speak to a resident who lost power earlier this afternoon. >> i came home fro i -- was out working, and then it's off. uncomfortable. >> reporter: what have you been doing ever since to try to stay cool? .nd you've got a d >> yeah. we're getting outside into the breeze. the building's staying cool so far. i'm worried later tonight it's going to be pretty warm. >> reporter: approximately 39,000 customers in the district of columbia. restore power o as quickly and safely as possible and are investigating the cause ofth incident. at the height of this, 39,000 people were without powerme. many restorations ha

ethan: australia wants to do, like, 500 of 'em. lemonis: ...and generating almost half-a-million dollars in sales. fricking awesome. and i think he can do 10 times as much. ethan: i think we can really sell the pants off of this. marcos: i think it's going to be very interesting. lemonis: but only if he'd listen to feedback. you don't tend to hear the negatives. ethan: i get defensive. lemonis: ethan smith is rightly proud of what he's created. ethan: we're doing it better than other people. we've had 100 million views on facebook of this. lemonis: but his products, well, they need refinement. bruce: nothing fits right now. we need to tweak it. lemonis: his sales pitch definitely needs work. i think you guys have done a [bleep] job explaining to them why they need to own it. and his business plan needs a reality check. i think your numbers are obscenely wrong. if i can't get him to loosen up and work on collaborating... ethan: i think there were a lot of people that were saying the same thing about a car, when henry ford came out w

for us, em equity, there are still plenty of risks. we tend to play em more fixed income.oped equities focus and within fixed income, both e.m. local debt and e.m. debt in dollars. nejra: i'm sure you've benefited because em debt has done supremely well recently. any areas you prefer within emerging markets? is it russia with the equity story or something else? alan: again, our approach is blended. we do have direct bonds, direct dollar bonds with russian names. we've even bought 100 year debt in mexico. dollars, but we tend to be a customer of the investment management industry. you can single out a few names but really, we are taking the generic return to the asset class. nejra: alan higgins cio at coutts & co, thank you for your thoughts. next, greece heads to the polls. country's prime minister is struggling to defend four years of austerity and economic upheaval. we speak to the chief economist about what a possible change in power means for the country. this is bloomberg. ♪ ♪ nejra: dancing along. i wish i had been part of the celebrations. boston pops, what a displa