in our next hour, james sweeney on your fears of deflation.rump and clinton doctrine. ♪ after the bank of japan, but said in the bank of england, the dollar weakens. sticky inflation is a clear and present reality. james sweeney from credit suisse. clintonl be the 2019 doctrine? mrs. "bloomberg surveillance." i am tom keene. francine, i have a feeling foreign policy may be an issue this weekend as we go to november. doncine: at the moment, we not know where most of your candidates stand. it filters through the middle east. that filters through the refugee crisis and european economics. tom: percolating here on friday. we will do that as we look for the weekend reading. it for now, our first word news. cam john kuhn fired at least one ballistic missile into im jong un fired at least one ballistic missile. the european union may have a showdown with turkey as the refugees. they want to send those who do not qualify back to turkey. water down early assurances on turkey joining the eu and having citizens travel to europe without visas. to push syr

we asked credit suisse's chief economist james sweeney -- tracy: petrobras. how is it possible that they have seen its borrowing costs fall? 's will speak with blackrock pablo goldberg. alix: is the question in the oil world -- it is the question in the oil world. now that prices have stabilized, how quickly can cruise be beught to work -- can crews brought back to work? we still have some markets closed overseas. volume was down 20% versus its 10 day average. within the s&p, energy was the biggest laggard, off by just 1/2 of 1%. you had consumer discretionary and materials leading in the winners category. general electric at its highest level since 2008. it was like a stealth rally. people were talking about it so much on program -- twitter that our social velocity index had an alert. i cannot find a reason for it. tracy: i did not see -- was there a reason for it? alix: a very interesting development. tracy: i wonder what's going on there. jolly take a look at currencies? -- shall we take a look at currencies? we did see the u.s. dollar snapping a six-day r

we asked credit suisse's chief economist james sweeney -- tracy: petrobras.ble that they have seen its borrowing costs fall? 's will speak with blackrock pablo goldberg. alix: is the question in the oil world -- it is the question in the oil world. now that prices have stabilized, how quickly can cruise be beught to work -- can crews brought back to work?

right now, on disinflation and inflation, james sweeney at credit suisse is adamant that our fears of overdone. do you agree? should we be worried about deflation? angel: no, we should be worried about deflation and worry about the amount. the badkind of the -- kind of deflation -- when the oil drops you will get a reduction in the prices. youa lack of demand means have to do something on the other side. we have been focusing on the supply side for many years. we have to look at the demand side. that should get us over the deflationary parol. tom: you are one of the most plain speakers we have talked to. i will ask you a difficult question. what would you do with brazil? angel: we have to let the legal and constitutional procedures roll out. the only thing i would ask of those procedures is that they are done fast, because uncertainty is the greatest the economicnd all agents, investors, bankers, officials, all the politicians, they say let the -- they said let's get this over with so that if the president is still going to be running the country, we will all rally behind her and star

tom: james sweeney with credits reaffirmedt suisse that.d market coming out of world war ii was a 20-year europe -- low yield glide path before that was change. david: i wonder if there is a fundamental problem -- expecting something from the fed they cannot deliver. they cannot generate growth or inflation. matt: as i said earlier, if you look at where some of us were in january, talking about slowdown, the u.s. economy may be having a recession, here we are in march and that is all gone. economy ishe u.s. very close to where the fed said it is. it is performing pretty well. relative to everywhere else, the u.s. is doing fine. tom: can i suggest that what will get us out of this is technological progress? when you have two iphones, this is what happens when you walk out of the house with two iphones. i'm in big trouble. david: i thought it was so you could talk and do e-mails at the same time. tom: seriously, this is the technological problem. david: to your point, productivity gains may come from technology. tom: there is a huge mystery a