tom: james sweeney, you're saying that michael mckee's chart, going to the light -- going to the rightf hydrocarbons. james: pretty much. this is mostly the global ,ectoral shock passing through hitting a few sectors in the u.s. james, where do you -- they are ready to height. what is the one thing that will make them not hike this year? is something that you see as ugly out there? james: there is more than one. there is china risk, there is u.s. datad i think are not necessarily on a smooth have the unemployment rate drift up a little bit, certainly that will stop. the most likely thought of the day is that it will be sideways to slightly up on employment, or sideways to slightly down. tom: you are boring. i am kidding. can we recalibrate? where are we? the real question is brexit. fed officials are telling me they are going to be watching the polls. the polls may be unreliable. they are going to watch the widespreadif it is as it is now and it looks like brexit will be defeated, they are likely to -- tom: are the feds going to watch pittsburgh place in the stanley cup? michael: they

tomorrow we are filled -- we are thrilled to bring you james major and sweeney. ♪ oil's revival back. a day ofcing reckoning. blackstone says the hedge fund industry may lose 25% in the next year as performance slumps. vonnie: global leaders convene in japan for the g-7 summit. jon: to our viewers worldwide, a very warm welcome to "bloomberg ." a big three hours ahead of us with stocks inches away from record highs in the u.s. david: we have great guests this morning. capital,s from janus he thinks the fed will be hiking. vonnie: an interview you will only see right here on bloomberg. looking at brit