i meet a bunch of them above city grocery, john currence's place on the square.n residence, megan abbott, jack pendarvis, a poet chayuma elliott. bryce thompson a senior writer for espn. fellow writer on the series "treme," chris. novelist ace atkins. poet derek harell is originally from milwaukee. crime novelist billy boyle from brooklyn. downstairs, currence's restaurant city grocery cranks out many delicious things. the man known as big bad chef, aka johnny snack, is sending some of those goodies upstairs as there's nothing professional writers like more than free food. usually, you put five writers in a room, it's an ugly, hell broth of envy, hatred -- >> we all hate tommy. >> yeah, that goes without saying. >> even me. i hate me worst of all. >> around here anyway the writers are really supportive of each other. for writers to argue would be like arguing over a piece of dirt. i mean, what are we fighting about? >> the stakes are too low. >> the stakes are so low. why would you be a jerk about it? >> if mississippi were a country and there were a national her

. -- john perkins key currencies. you can see that reflected right there. the japanese yen. check out the u.k. pound falling below 130 of 1.29 at the moment. nicole: let's check out the tenure bond yield 1.33%. the federal reserve of the federal reserve over this mess from last month made in that happened today at 2:00 p.m. eastern time. the fed could shed light on how concerned policymakers were about the sharp slowdown in hiring back in may. the fed surprised wall street by lowering projections of how much it will raise rates in the coming years could the central bank cut interest rates steady following the disappointing may jobs report and the head of britain's vote to leave the european union. foster does not expect the fed to hike rates until well into next year at earliest. nicole: another crash involving a test so while it was in the autopilot mode. in michigan and held crash and rolled over in the pennsylvania turnpike last week it the turnpike has narrow shoulders that these margin for driver errors. the driver and his son-in-law both survived. the

price rules, some monetary policy rules, like paul volcker has suggested, some currency dollar stability like volcker and johnaylor and many other sensible people have said. right now the fed is rudderless. they're operating a ph.d standard with econometric models the that do not work. and i think that's got to change and i think individual men and women from business would have a better chance on it. >> why would you bring businessmen on and business women on and other people from the business community if you want it run by a rule? >> well, look -- >> they would just set it by the rule. what do we need them for? >> if you need rules -- you said don't regulate interest rates. how do you deregulate interest rates and still have rules in place then? i don't -- >> are you kidding? listen. that doesn't mean the fed can't ever intervene, but it does mean the public would know with greater clarity what they're aiming for. that's one of the biggest problems. look at steve liesman, he is a great reporter. my hat is off to him all these years. but he has to come on and interpret all this yapping, constant yapping by

look at the lira -- it has been a rough week for the turkish currency, but it is hanging in there. hanging in there with us is john. he was there to make the case that britain should not leave. he was as surprised as anybody else. a month on, what does he think? lord brown is with us this morning. morning,ome data this bmi indexes that reflects concern about what is going on. a month on. have you changed your feeling about how bad or good it will be for the overall u.k. economy? lord brown: we quote our new prime minister, brexit is brexit. everyone has appreciated that. i think everyone is looking to quite a long period of uncertainty. ftse is higher this morning. investors do not seem to be as concerned. browne: people are looking carefully about what they'd should do for investment, and certain sectors are affected more than others. sector is looking to what will happen to pass porting and things like that. there are a lot of uncertainties. people will live with uncertainty, recognizing they need to do the best i possibly can given the circumstances which have occurred. guy: lord browne, good morning. how low i

john. why do you think carny is talking about more monetary stimulus given that he also at the same time during the same speech spoke about how the market is functioning and wasn't need for currency for example to find a new level, which it indeed has done, but he was saying the market was operating as it should. >> i think the way we describe it first and foremost, look at the market. it's actually been an orderly period of weakness. if you look at the head line ftse number, it doesn't tell you the real story. look at what the guilt market is doing. cable, sterling dollar down at 1.33, 1.32, yet ftse was up from one week ago at last night's close. if you put it in dollar terms, ftse is down about 8%. much more in line with what the sterling market and guilt market are felling you. there is a highly uncertain part of growth. fact of the matter is it's the currency that's done the heavy lefting. if you look at it in international context, the uk growth probably does have a great deal of uncertainty. >> do you think it needs stimulus. >> this is the difficulty is he can't standby and do nothing if the market is repricing growth. it seems the bomb market certainly is repricing the o

john, your take on it, at least what we saw today? >> i think chris is right in the sense that investors flocking to stocks because there is nowhere else to go. central banks trashing their currency. you have negative yields or record low interest rates and cash earns you nothing. we're moving into earnings season, see fundamentals where rubber hits the road and see if volatility picks up. connell: all right, guys. other thing, john i will go back to you on this, when we go forward from here, talking about volatility picking up questions about what types to stocks to own, what are you looking at today. >> given all the political rumblings around prices on drugs that has taken multiple out of the health care stocks so we're finding value in the health care space. connell: chris? >> we like companies like amazon, costco, ones that have very distinct thematic tailwinds pushing their businesses. that's what we're looking for, companies that ride the theme mattic waves. there is a whole host of them. we don't look at world through techtores. connell: fair enough. melissa: guys, thank you so much. second-quarter earnings season unofficially kicks off with alcoa. lori has the numbers fo

john: there are a couple of things that work here. when it rains, it pours, and it is pouring on apple right now. let's start with the currency.m levels. that makes it a lot more expensive. and you have better phones coming out of local vendors like huawei. companies have done withy good job coming out low-cost, feature-rich phones. and frankly, it is at the point where quality is getting comparable to the iphone. so it is coming down to price. if prices the problem, should apple target higher and consumers? should they expand to the masses and cater to that audience? : i think they out to do the latter. they started with the iphone and it is basically an iphone five s, but they updated all the specs. it is all current in that regard and has a starting price point of $399, so it puts them in the midrange segment. i think they have to do better in china. they have to get a lower market to compete. >> should they move on to other markets like india because that is where the next phase of growth could be? : india's a separate discussion. it's a different culture there. everything i have heard is that it is a much more price sensi

radio, scarlet fu, tom keene, and john legen call are looking at this -- joe weisenthal are looking at this. jeff rosenberg will be on as well from minneapolis. the currency. ♪ david: welcome to bloomberg markets. ♪ david: from bloomberg world headquarters, i am david gura. lang.: i am amanda we are covering stories from washington, toronto, and beyond. here is what we are watching. the federal announce its decision on interest rates. much investors will do what they do every year, which is nothing. there could be a possible rate hike in september. david: shares of apple's soaring today. concerned about growth with news of the iphone as the sun better than the second. -- iphone se selling better than the second. we break down the results. david: we await that statement from the equus building. let's turn to julie hyman. julie: in advance of hearing from the fed and the commentary, we are not seeing much decisiveness being expressed, which is not unusual. on said days, before the decision and the statement even if no decision is expected, he sort of have a little bit of a range if you will. that is what we are seeing. the dow trading lower, the s&p off a q

john: the forex now -- first and foremost, wish i could line up a trip to the u.k. secondarily, what we are looking at is some currencyhat is something on our minds now. so many of us -- not our shop, but so many got the dollar trade wrong the first half of this year when it went down. now we expect path of least resistance may be up. turns the hedge is what we are looking at right now. carol: fixed income world, where are we? john: individual bonds, we are putting high-yield in for spread closure. carol: thank you so much. the chief investment officer at the huntington trust. i will send it back to you. scarlet: carol massar and cory johnson of bloomberg radio, speaking of john augustine of huntington trust, saying fixed income is a tough world right now. still ahead, exploring the high seas in style. inside the latest luxury cruise. ♪ >> flung bloomberg -- flown -- from bloomberg world headquarters in new york, you are watching "bloomberg markets ." scarlet: let's begin with the headlines on bloomberg's first word news trademark has more from our new york newsroom. mark: british prime minister theresa may said she p

john question because that is a big deutsche franchise. who is it going to be? hugh: you have to look at the difference in business mix. jpmorgan are huge and currencies.oldman, not as big a business. suspect -- i think there is a bloomberg story out today. tom: very quickly, there is a whole new regime of looking up the next 18 months. what have you learned from jpmorgan, citigroup, and bank of america? hugh: they are optimistic. they see that their core loaned $106morgan billion more in the second quarter. they see wage growth, they see optimism, they see housing again. , on thank you so much bloomberg news this morning, on bank of america. carl weinberg, you have led with a discussion that world trade is terrible, and that is the coverage of every story that we face, whether it is turkey, italian banks, and such. do you have an optimism that we will see a jumpstart economy? i am asking because i have to talk with madame lagarde today. she has been out front cautious like you. when do i get optimistic? carl: the imf has been leading the conversation on the decline in world trade. it will probably pop up at the bank of england as well. declining world

currency rather than an economic background. the political will will be reestablished. mark my words. sandra: john us, sir. >> thank you come as standard. from e-mails to aids, the problems for likely democratic nominee hillary clinton next. something you did for fun. until the day it became something much more. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade. >> good morning. sander spent. it is tuesday, july 12. top stories at 8:00 a.m. eastern. a sea of blue and dallas. officers killed in last week's ambush. this ahead of today's memorial or president obama and former president george w. bush will be speaking later today. tensions do remain high. nonsense and streets across the country last night protesting against police shootings in louisiana. on the campaign trail comment donald trump speculation is heating up. today a rally with indiana governor mike pence. ramped up his attack on hillary clinton. >> if elected, hillary clinton would become the first president of the united states who wouldn't be able to pass a background check. sandra: clinton fa

currency pair. and yields unchanged in a week where we saw an all-time yield on the u.s. 10-year. david? david: thanks very much, john thafpblet as everyone knows, you certainly should by now if you're watching the program, today is u.s. jobs day. here to preview the numbers is david roseberg, the chief from est -- economist toronto. what are you expecting? >> i don't think the a.d.p. is going to miss two months in a row. the consistence somewhere around 170, 180. i think that is a reasonable estimate. as far as june is concerned, but the real kicker here and the real surprise could be an upward revision in may. keep your eyes on that because we didn't get much of the revision to the a.d.p. today. and my sense is that we're going to see that gap close. so no matter what june does, keep your eyes on may because the chances we see an upper revision of size is very high. david: we have to take 37,000 and 38,000 out of the 170 because of the verizon strike. but if your analysis, you pointed some other factors that you think are reasonably positive. for example, a shift in attitude on an analyst part about corporate profi