i'm tom keene. with me in london, guy johnson.inister crosses the english channel today. it is a big deal. guy: the relationship with europe gets going with a conversation with angela merkel later on. theresa may and angela merkel, similar backgrounds. how will that meeting go? a lot of people are waiting to see. it could set the tone for brexit today. tom: absolutely, and this with pound weakness, sterling weakness. right now, first word news. here is taylor riggs. taylor: donald trump's campaign has paid off. votes the number of needed to win the presidential nomination. he will be at the convention in cleveland to accept. his son said he will not take no for an answer. >> when people tell him it cannot be done, that guarantees he gets it done. when someone tells him something is impossible, that is what triggered him into action. taylor: the convention nominated his price presidential candidate, mike pence. there will not be any hard bargaining today when theresa may meets with angela merkel. angela merkel has said there will b

pockets of heavy rain coming into worcester county and also here around the keene area. a start to a wet friday coming up. general maura healy is getting report. healy's five recent predecessors says they are confident that her actions are tootional and in the rights of her duty. tootional and in the rights of her duty. gun rights advocates say healy . >>> a college has cancelled plans to do a play about the san bernandino attacks. they planned to perform sb strong this fall after many objections by relatives of victims. the school realized an apology and cancelled hoedt. in september, the couple shot and killed 14 people during a christmas party. the two later were killed in a shootout of police. people visiting the french city of can nes say bags must be left at home. the bags have been banned after the terrorist threat. killed and two weeks after the attack in nice that killed 84 people in bastille day. >>> an unusual request from chicopee police. they are warning people to say no if someone asks to use their cell phones. someone preys on good samaritans. makes a sob

tom keene is in new york.son is looking for a new chief executive. the ceo is quitting after 6.5 years. his departure cap to a turbulent period for erickson after reporting disappointing results. shares of nintendo plunged in tokyo by the maximum allowed, 18%. the company says the financial impact from the worldwide pokemon go craze will be limited. yahoo!'s long fight to survive as a standalone company comes to an end. buy yahoos core internet assets $4.8 billion. it's likely to end the reign of yahoo! ceo marissa mayer who tried and failed to reinvent the company. that's your bloomberg business flash. lacqua, i'm sorry. was one of the street is talking ceos -- haveghtest talking ceos we talked to. francine: the problem is when you look at the share price, i don't know whether investors are expecting too much. shareholders thought he could have done more and wasn't focused enough. tom: i think it's a problem of impatience. joe quinlan of u.s. trust is with us. outlook sherman's brutal. look at the stock when

this morning from london and new york, with scarlet fu, i am tom keene.scarlet: i am scarlet fu with tom keene in new york. french president francois hollande, as well as prime minister manuel valls, have arrived in nice. you can see video of them arriving after the attack that left at least 84 dead. france has declared three days of national mourning area we will continue to -- france has declared three days of national mourning. tom: without question, it is a great week for sterling, from to 1.33.level up for those traveling from london to paris this weekend, .8332 is the number you will need to know. with us this morning, and on u.s. politics, is robert hormats, serving the president and secretary clinton within the state department, with kissinger associates. i have to rip up the script and ask you about a candidate being vetted for vice president by secretary clinton. , thenow admiral stavridis dean of the fletcher school. give us this idea of military men as vice president. why would secretary clinton look for another supreme commander of nato? bob:

tom keene is in new york.sset markets, but let's talk corporates with the "bloomberg business flash." taylor: europe's largest airline says there are special concerns because of a wave of terrorist attacks. bloombergtv spoke with air france's cfo. there is very strong growth in supply. demand.ened we have seen some headwinds for sure in demand. of course, with the events that we have already in the past, with the building up of the impact of the terrorist attacks, we see a strong impact on the local flows to france. france's second operating -- second quarter 7%.rating profit was up 7 tom: is fed day. brian belski is with us. distortion inst interest rates. how does chair yellen adapt to what was before brexit, or how does she adapt to where the rate structure is after brexit? >> as unusual as it is, we are still in a better position than we are in europe and japan, where you have negative interest rates. they have managed to avoid the sand trap of going the negative route. as odd as it looks, they are in bett

tom keene is in new york.dent send it -- defending the bank of england after attacks over his brexit morning, saying that they have really played out and he gave some comments in the last couple of minutes about italian banks, probably sparing markets overall in europe, but mark carney saying some italian banks probably need realization but that the u.k. exposure to italian banks is lost. tom: thank you so much. markets continuing the feeling of the last few days. futures right now, let me get that over here on my new set of futures, up 10, dow up. brian knows that, he is with oppenheimer funds. he was counseling their portfolio managers to look for better times ahead. it is tough. you cannot go to cash if you're running a mutual fund. brian: it is difficult to go to just for whole, not portfolio matters. the biggest problem investors have is that they do not stick to consistent plans and markets always have a tendency to make that would solve themselves look silly. in: we know we should not be cash and long-t

in london, tom keene in new york.om: what a movable feast this morning. tick by tic as we went into this opening, francine and i were going back-and-forth over the dynamics, and i have to say this, we do note -- we do not know why deutsche bank is south but it is south. francine: i think there are concerns that the brexit shows investors are very nervous and it goes into the weak spots so i think we will see many more spots like this. there may be something more underlying. let's get straight to the bloomberg first word news. nejra: the field is down to three and the race to become the next british prime minister. theresa may took the lead in the battle to succeed david cameron, winning 165 votes in the first round. she was followed by andrea leadsom and michael gove. stephen crabb has dropped out and liam fox desk liam fox was eliminated. the next vote is tomorrow. report is likely to revive recriminations over the iraq war. it will probably pile criticism on politicians, officials, and the military. led to thet poli

tom keene took you away from me. i'm not happy about it.ime to talk about the sustainability and the limitations of monetary policy. focus andf japan and later on, the ecb as well. president draghi and his compass coming up on bloomberg . -- his press conference coming up on bloomberg . we will be talking crude with harold hamm. central banks very much in focus. thank you.y: we will be carrying on the conversation surrounding ecb. joachim fels still with us. but think about the option alley that mario draghi has in the ates by which he is governed the moment. how far do you think mario draghi has pushed the rules? how near the edge of what was originally conceived for the ecb is draghi or as he gone further than that already? >> i think he is still within the rules. the ecb is conducting monetary policy, not fiscal policy. of course, there is different interpretation of the rules. so let say some german economist and german lawyers may have a different view, but i think he is firmly within the rules. he is conducting open marchers o

guy johnson in london, tom keene in new york.lk about the day one surprised -- it was not the guy with a bandanna, it was not this or some musician or some sitcom guy from a million years ago. it was mrs. trump as she talked about donald j trump. mrs. trump i thought was really quite eloquent coming out, then an uproar over some of her language and the idea of theft from the first lady. i guess we all do that, but here it was maybe, as the president said, "it reaches." we were raised with so many of the same values, that you work on what you say you are going to do. >> my parents impressed on me the values that you work hard for what you want in life, that your work is your bond, and you do what you say and keep your promise. tom: there it is. you have heard the compare and contrast. that is wonderful. in terms of those claims, strongly echoing the first lady in 2008, the trump campaign said, inviting her beautiful speech, mrs. trump's team took notes, in some instances included fragments that reflected her own thinking. me here.

scarlet fu in london, tom keene in new york. coming up, richard turnill of black rock will join us on this important moment for the united kingdom. on london, new york, this is bloomberg. ♪ tom: as scarlet mentioned how will europe respond to what we have seen in the united kingdom? one is to celebrate bastille day . scarlet fu in paris, doing what they do every year. i was there in the summer of 1968. scarlet: it is supercharged today. the euroy did not win 20 16 championship -- a wonderful celebration in paris for bastille day. in london, the bank of england will announce it interest-rate decision. it is the first time the monetary committee has voted since the brexit. a cut would be the first since 2009. anna edwards is at the bank of england. i know mark carney said there would be easing, but there has that hasa lot of data come out that would support a rate cut at the moment. not a lot of data or fax to go on. a bit of survey data says consumer confidence is not looking great. the housing market not looking great. will they

. >> i'm not telling you everything is peachy keen. i'm telling you we have work to do if we are going to make sure everybody is included. >> isn't it great the words they are using? peachy keen and malarky. i can see the world passing right by you, casey. >> reporter: you can. we are in your native pennsylvania. we just stopped in hatfield. it is where they make lincoln logs. this is, as you said, about white working class voters, particularly men who have broken for donald trump lately in polling. democrats knowledge privately that pennsylvania is up for grabs than it has been. there is a risk for her in letting the state go. of course you know well that eastern ohio is similar terrain. this will take us through harrisburg, pittsburgh, youngstown, cleveland, columbus. they are places that are -- frankly their economies have been structurally changed. so the pitch here from him ri clinton, she has to be careful to knowledge the pain all of these people are feeling. the message is more optimist k. she is visit sizing trump for being da

francine the clot, tom keene in new york. the currency moves -- francine lacqua in london, tom keene in new york. my number one message is that markets are on the move. you do not see it in equities. bonds,om equities, currencies, and oil are a jumble not lows but nevertheless markets on the move. bp,cine: when you look at the refining margin is nowhere to be found that they are sticking to the dividend. let's get to the bloomberg first word news. bernie sanders supporters ignored his pleas not to protest on the opening day of the democratic convention in philadelphia, many angry over revelations that the dnc favored hillary clinton. sanders did not directly call for his supporters to vote for clinton but made it clear where he stands. mr. sanders: any objective conclude are -- observer will conclude that hillary clinton become the next president of the united states. taylor: senator elizabeth warren urged reluctant liberals to vote for clinton and told the convention that when democrats turn on each other they cannot fight a

tom keene in new york, francine lacqua in london.r politics, democrats know how to put on a tv show. francine: yes, they certainly do. you have some great speeches. what i would say is that the end of this convention, tom, we have a lot more economists trying to figure out whether we will see dollar strength or weakness on the back of each candidate. tom: we have got two wonderful guests of the hour. here is taylor ridge. sheeor: hillary clinton says is ready to lead and donald trump cannot be trusted in the oval office. party'sccepted the nomination to be the presidential candidate. clinton said a man you can beat be trustedt cannot with nuclear weapons. she also took aim at the big banks. ms. clinton: it is wrong to take tax breaks with one hand and give out pink slips with the other. and i believe wall street can rent ever be allowed to main street again. mater: clinton and running tim kaine will get on a bus today. they will visit the battleground states of pennsylvania and ohio. in japan, the bank has expanded a stimulus program

the ones that are, the suisse, the yen, they are not keen on that. actually ishe further strengthening and the current environment where geopolitical risk makes it. optically look like a bit of a safe haven. paradoxically look like a safe haven. francine: we will talk more about u.s. jobs and the fed next. why the fed should hike. not bejobs number may enough but the u.s. central bank should raise rates anyway according to mark gilbert. thisgotten traction with controversial line of thinking. that conversation is up next. this is bloomberg, where markets really awaiting the u.s. jobs data. for the moment they are pretty much flat. euro-dollar is one we will watch out for. ♪ you guy's be good. i'll see you later [ bark ] [ bark ] bye. see ya pal. ever wonder what your pets do when you leave home? [ laughing ] aw you cutie pie. aw. aw. aw. aw. [ barking ] [ washing machine running ] party's on! know what your pets are up to with xfinity home. xfinity. the future of awesome. see the secret life of pets, in theaters july 8th. francine: welcome to "the pu

tom keene is in new york. we need to take stock of the fact that not only is there a president -- a new prime minister and the u.k., the second female, but this is a new era. she will go to brussels to renegotiate and try to extract the u.k. from the eu. tom: you are right, the idea of a new era. she would not -- she was not leave. she?as not a brexiter, was francine: she was not but she was not one that really campaigned to remain. she stood in the middle and was very cautious. one thing that people are saying and she probably has to pick someone to negotiate who was for brexit. it is all about theabinet and we may get some appointments at the time we finished today. let's get straight to the bloomberg first word news. nejra: we are a few hours away from a changing of the guard at number 10 downing street. davidh prime minister cameron will face questions and the house of commons for the last time and then we'll go to buckingham palace submit his resignation. the queen will ask theresa may to form a new gover

. ♪ >> i am guy johnson with tom keene in new york.ociete generale says london home buyers could fall more than 30% because of the brexit .ecision to leave the eu they will certainly have to move some of their business is to eu market.ss to the and prices tapering off. prices rose in june, down from 60 cities animate. more are following the lead in shanghai and slowing down the property basis. a huge deal in the semi conductor field. $32 billion represents a 43 percent premium to the closing price on friday. becoming one of japan's most acquisitive companies. it owns shares in alibaba and sprint. we studied the details of this transaction. rick david covers for bloomberg news. in the post-brexit world, we have been anticipating people would use this in an opportunistic way to get into stock. insist that or something else? of both.a bit this is not just a brexit deal. that is correct. if you look at how the company has performed post-referendum, it was up 16% on friday. yes, the pound has declined against the yen about 11% but it cannot

a couple 50s on the map too. 59 at keen and pitsfield, massachusetts. temperatures rise out of the 70s pretty quickly by mid-morning. 80 by mid-morning to lated morning. -- to late morning and then low 90s by lunchtime with some building clouds. there will be a hit or miss thunderstorm as we head into the late afternoon and evening. the greatest risk north and west of boston. i'm not anticipating any severe weather. just your typical thunderstorm. one or two may pop early to mid afternoon. the highest risk north and west of boston and some of those may linger into the evening. heavy downpours and brief lightning may accompany the storms. we're all getting into wet weather tomorrow with big changes. we'll talk about them coming up. >>> let's get you on the roads, kathryn. >> things are moving along just fine right now. no trouble spots to tell you about. so far so good early on this thursday morning. >>> breaking over night, at least one person rushed to the hospital after a shooting in lynch -- in lynn. part of the streets are still blocked off. is we h

coverage of more madame lagarde with tom keene in the next hour of. bloomberg -- of bloomberg. ♪ matt: you are watching "bloomberg markets." i'm matt miller. scarlet: i'm scarlet fu. we are back with jeff mccracken and mark thierfelder. matt: he has led teams on over with a, including one significant stake in ancestry.com. our topic -- how legislation -- regulation is shaping the m&a landscape. increasingly, we see private equity help with the funding of deals, instead of banks. you mentioned in passing that chinese companies are partnering with private equity companies. my thought is is that because finding is easier to get from them than a bank? separatere are two threads. ,hen private equities specifically chinese ones, partner up with chinese strategic, that is not to drive the capital of that -- effect, opportunity to execute contracts and get the deal done. you are looking at capital and capital raising -- you are getting a movement away when you are financing with debt finance is a rise of what we call alternative lenders or non-bank lenders. t

tom keene in new york. markets with the dollar tailing. tom: we got the markets today and the jobs report. i tell you, this nation shaken. memories oflearest 1963 and 1964. i don't mean to compare anything we have seen in the last 48 hours to that, but i tell you, this is a changed america this morning. the president is in europe. world.e: it is a changed it affects us all. let's get the first word news with nejra cehic. nejra. nejra: a peaceful demonstration in dallas, texas, turned into an ambush pierce clippers opened fire killing five officers and wounding others. arrested.le have been there are media reports that a fourth suspect who had exchange gunfire had killed himself. british prime minister david cameron heads to his first major summit since the country voted to leave the european union. in warsaw, he would make argument that britain is still relevant to its allies. he will pledge more than 3500 troops. some will be deployed in eastern europe. may says it issa time for her to make the case to the nation why she should be the nex

. ♪ a tom: francine lacqua and keene are off today. independence day in the u.s.nd or equity trading in the united states. ministerench economy has told bloomberg paris is a contender for the european .usiness post brexit other cities have been gearing up for a battle for transactions done in london. for a lot of financial institutions, the brexit will be a big question. it will depend on the axis, the organization of the brexit. our role is not to play on this uncertainty. what weesponsible and have to do is respect the vote and organize the brexit. at the same time, it is true, it could be -- for our financial place. we have a lot of financial institutions and we can welcome who wouldnstitutions like to join the eu. u.k. constructed contraction -- u.k. construction contracted. the purchasing managers index slid to 46 from 51.2 a month earlier. it adds evidence the referendum was hindering the economy before the shock vote to leave. analyzes a hit to gdp in the wake of the u.k. brags it vote. they also predict britain will barely escape a recession as it sees a 1

i'm tom keene in new york. francine lacqua in london.erest rates is the theme of the weekend and this morning. francine: i think you are right. europe ministers meet in to talk brexit and negative yields and italian banks. things are dynamic to say the least. cehic.nejra >> prime minister shinzo abe has won a victory in parliamentary elections. the conservative coalition has a super majority. wonliberal democratic party 56 of the seats in contention. he said he would take a broad bold measure to expand japan's economy. hits to walle street today to try to shore up investor confidence in the wake of the u.k. vote to leave the european union. he will go on similar missions to china and singapore. angela merkel says it is now inevitable that the u.k. will leave the european union. she said britain will formally apply to leave once a new prime minister is in place. she dodged a question over whether she will run for a fourth term next year. there was another protest against extrajudicial police murders of black people in baton rouge, louisia

i am tom keene in new york.president obama says no one has been more qualified to sit in the oval office than hillary clinton. president made his case for clinton. he took a number of shots at donald trump. pres. obama: we are not fragile. we are not frightful. from aer does not come self-declared savior promising he can restore order as long as we do things his way. we do not look to be ruled. taylor: the two walked off stage together. called donalderg trump risky, reckless, and a radical choice. angela merkel is ending her vacation earlier after a rash of violent attacks. in japan, plenty of questions about the prime minister's plan.ic about one fourth includes actual spending according to a person familiar with the matter. another quarter of the package would be financing for projects in state-run companies. all they has yet to offer a breakdown of the plan. global news 24 hours a day powered by more than 2600 journalists and analysts in more -- countries. i am taylor riggs. tom: we would love to give you --

i am francine lacqua with tom keene in new york. there is a little bit more bullish than an hour ago on stocks. there is a lot of money going to havens. tom: the flow of news into this morning's call more. -- is calmer. the fragility, within the united kingdom and united states political scenes, something else to talk about today. francine: there is a second vote and we understand it will be a two-way race between andrea leadsom and theresa may. let's get to the bloomberg first word news with nejra cehic. nejra: francine, exactly as you say, the race to succeed david cameron is narrowed to two candidates today. theresa may and andrea leadsom are the favorites. conservative party lawmakers vote in the second round today. the two contenders will face the parties wider membership. the new leader will be selected by september 9. germany's chancellor angela merkel says there can be no sustainable security in europe but without russia. germany and its partners the -- agree -- an offer to have a dialogue. merkel told lawmakers she plans to

cooler readings in places like plymouth at 58, same in keen. the upper 50s here in orange and then lower 60s from norwood to taunton. 70s on the cape and islands. a beautiful start to the day. the dew point in the 60s to low 70s. it's down right tropical on cape cod dew points creep up this afternoon. it will be a muggy day over all. satellite and radar quiet for now though. there's just an isolated risk of a thunderstorm. 90 to 95 for boston, taunton and plymouth. from new port rhode island back over to the outer cape in the mid to upper 80s today. so a warm one for us there but not as hot as everybody else. afternoon. there's not a lot of green on the map. it's places like central vermont back up into western maine that see the most numerous thunderstorms today. we see one or two with just some downpours and maybe some brief lightning. the evening hours are focused north and west of boston from the route 2 corridor back in through the marimac cal vi. -- valley. tonight a lingering shower and lows back into the lower 70s. we don't get out of t

peachy-keen and malarkey? i'm joined by nbc news correspondent kasie hunt who is on the clinton/kaine campaign bus. a new phrase to master. there you go. i can see the world passing right by you. >> reporter: you can, chris. we are in your native pennsylvania. we just stopped in hatfield, where they make, factory where they make lincoln logs which you may or may not remember. this is as you said, all about white working class voters, particularly men who of course have broken for donald trump lately in polling, and democrats acknowledge privately that pennsylvania is frankly more up for grabs than it has been in any of the more recent modern campaigns that we have experienced and that there is a risk for her in letting this state go. of course, you know well that eastern ohio is similar terrain to western pennsylvania. this bus tour is going to take us through harrisburg to pittsburgh, youngstown, cleveland, columbus. you and many of our viewers know the issues there well. they are places that are frankly, the

heavey downpours -- heavy downpours keene and this is lifting to the north and east in between route 89 in southern new hampshire and up along 93. they will stretch to concord a damp start to the day but a warm start and sticky start. and the back edge of the rain is still back across eastern pennsylvania. we have a little ways to go before we get out of it. pockets of rain and downpours through late morning. midday breaks of sun come out in an additional shower and thunderstorm north and west of aboveon heading into the recall -- of boston heading into the early evening. temperatures don't rise out of the upper #0s. best -- 70s. best chance for thunderstorms north and west of boston ride home. details in a few. >> >>> so my friends it's with humility and determination and boundless confidence in america's promise that i accept your until nation for president of the united states. >> there you heard it hillary clinton make history at the white house got the biggest boost of all as she accepted her party's nomination. clinton made her case why she should be the next president. >> and

contributions that a single individual can make to society when he or she is just -- blessed with a keen intellect and an innate sense of decency, justice breyer: that was a pretty long introduction. i will give you a short introduction. i am very happy to be here and introduce you, and i am glad you are all here. i do want to say that this society does a terrifically good job to tell its members and people who aren't members, judges in our courts, and everybody else in the world, something about the history of the court and what we do. you have teacher training programs. you have trained high school civics teachers. you have released histories and have sponsored these lectures. leon used to give long introductions. i remember that. leon was terrific here at i am so glad you have named this lecture series after him. this is a series, for parts, this is part two. the four parts are on the court and the progressive era. tonight's event is a panel discussion. the panelists are the three of you. he has written many books, including lochner v. new york, economic regulation on trial, justice s

francine lacqua at london, i am tom keene in new york. in the u.s. 10 year and we just saw a curve flattening below 80 basis points . absolutely remarkable. right now to our bloomberg business flash. thea: for the first time olympics has an official insect repellent partner. the rio de janeiro games has ensurea brand to tourists and competitors that they will be safe from the zika virus. investment has suspended trading in its $3.9 billion u.k. real estate fund. they invest in a mix of prime real estate assets. london values could fall up to 20% within three years of the u.k. leaving the eu. in the wake of the brexit vote, british confidence has dropped and pessimism about the economy has soared according to a new survey. british firms expect exports to andnk in the next year almost half are pessimistic about the economic outlook. francine: this is what we're watching for the rest of the week. later today in washington while we get the latest reading from the factory orders in the u.s. and president obama campaigns with hillary clinton fo

this from the keene area, pushing off to the southeast at 18 miles per hour. it gets to winchendon at 5:45 p.m. fitchburg and lempster by 6:45 p.m. the one out around greenfield, massachusetts, is on its way toward the south-southeast as well. candia to raymond its on its way to you. now its on its trek toward the beaches of southeastern new hampshire and north shore especially hampton beach, plum island, that shower holds together, you'll get wet in the evening hours for your ding hours at the beach or walking the beach, whatever it is you're doing out there. this is what's happening out here tonight on futurecast. the showers dwindling as the sun goes down, you lose the energy, going to clear out tonight and be sunny when you wake up first the sunshine with you right through the middle of the day. this takes you to 1:00 p.m. tomorrow afternoon, where sunny. a couple clouds billow up in the afternoon. we are keeping it dry into tomorrow morning. important for your saturday night activities. showers back here that will make their way toward us on sunday and th

protectthey so keen to bondholders? very italy is a interesting case.bondholders are retail investors, mom-and-pop investors. for as little as 1000 euros, they could ice purity they thought was a safe is putting their money in the bank. if they are sacrificed, if they therert of her sharing, could be as many as 50,000 people who have these kinds of investments. if they are the first to lose their shirt, they could get angry about it. they've got a referendum coming up in the fall. if people take out their anger he has the government, said he will step down if the referendum he has been backing does not go through. he is very keen to make sure they are protected. it's really to save their votes. reaction tos the the new prime minister? ryan: pleasantly surprised. is if they think in the u.k. the just because the timetable has moved up by two months, that doesn't mean it's going to move up the negotiations between the u.k. in the european union. they want to see article 50 and vote. they want to u.k. to formally notify the european union they are exiting

highlights from tom keene's conversation with christine lagarde.omberg. ♪ david: donald trump has not been shy in saying why he should be our next president. one reason is the businesses he's built in the way he circulated his wealth. we've taken a closer look at how about the mr. trump truly is. mr. trump wealthy truly is. >> his net worth has gone up $3 , less than the $10 billion he claims. david: how confident are you in his numbers? >> you never know what a building will go for until it actually sells. assets, theses trophy resort properties, you could expect maybe someone would pay a healthy premium above the revenue is businesses are generating just for the sake of owning them. basis, we are confident in the range we are in. david: he has also borrowed a fair amount. a wonder to $70 million loan out against the new hotel use building and washington, d.c. -- $170 million loan. it is expected to open in time for the election in november. he needs to fund his own campaign. how much cash can he reads quickly? quickly -- how much cash can he reac

turkish president erdogan -- >> in the aftermath of that failed coup, christine lagarde tells tom keene the quick action -- allish central bank the highlights from that exclusive conversation. we are still hanging onto those gains. which means another potential record close for the dow and s&p 500, even though if a volume onl gain it is a tight range. us in record territory. if you are the s&p over the course of the day you have a tight point range. one of the narrowest ranges we have seen thus far this year. the nasdaq is back in the technology happens to be one of the winning groups today. holdings of the chip designer from $32 billion. other stops we have been watching and technology considerably higher today. elsewhere in terms of the individual stocks we have bank of america, which reported its earnings that fell. but still beat estimates. though shares have been benefiting from that. by 2018 they will fall even further. in the past few moments we have headlined on nonsense so that i want to mention. monsanto is said to be in talks with a buyer over a nondisclosure agreement that w

that ag contributions single individual can make to society when he or she is just -- blessed with a keen intellect and an innate sense of decency, a dedication to the rule of law, and a determination to make our country and our world a better place. ands my great honor privilege to present justice breyer to you now. [applause] justice breyer: that was a pretty long introduction. i will give you a short introduction. i am very happy to be here and introduce you, and i am glad you are all here. i do want to say that this society does a terrifically good job to tell its members and people who aren't members, judges in our courts, and everybody else in the world, something about the history of the court and what we do. that is a very useful thing. i cannot tell you how often i talked to audiences. i'd love to talk to schoolchildren specifically. i have to get them interested and explain what we do. by and large, they don't know, so thank you for what you do. you have treacher training programs. you have trained high school .ivics teachers you have released historys and have sponsored these l

tom keene joins us from bloomberg radio.e're waiting for jobs to come out an hour from now because of what it might tell the fed and what it might do. take a look at what mark had to say about the fed. >> we think the fed will be on hold for several more months. we do think they want to get off zero the probability of them hiking as higher than what the market's priced in. right now, the market is price in at 10%. chance they'll raise rate this career and doesn't have the fed moving until 2018. we think that's a little bit too pessimistic that the economy is doing better than that. david: so tom, i think that's probably consensus in the look at wirf the terminal, it doesn't anticipate much of a rise and the fed coming up any time soon. tom: it's total chaos here right now. and he nails it. they're the idea of where the market is, where the experts are, where the fed is is one big jumble. david: if you go over the last few months when the fed has disagreed with the markets, the fed has come to the market. he's now saying none

coming up next is tom keene with "surveillance."bloomberg terminal, probably my chart for the next hour. some traders are not taking any chances and we have seen this in the last couple of weeks. this is an index we do not look at often. index thats is an measures how much traders and the options market are willing to protect -- paid to protect against extreme events. theose to the highest since 1990's pre-brexit and we have seen a little bit of recuperation but still quite high compared to the average of the last 12 months. keenes my chart, and tom be looking at the housing market in the u.s. ♪ ♪ ken carney fix what can cam carney fix -- carney fix what brexit vote? the uk's governing party takes its first step toward electing the new prime minister. the italian impact, monte dei are down.res this is bloomberg "surveillance,"

joinings now with insight, fox new the military analyst, general jack keen, and your reaction to these events? >> caller: i can certainly understand the frustration the military feels. they've watched their country move from a democracy to an authoritarian dictatorship, with parties and moving to a secular government to an islamic government, and certainly erdogan's dealing with isis has been very frustrating to us. while he's given us the military bases, he facilitated the trafficking of people through his border, the isis training camps. they've been trading on the black market with their oil commodities, the major source of their revenue. so this has been a very frustrating period with us dealing with them, but even more so for people in his own country. i'm certainly not advocating the violence that's taken place, but i do understand the frustration and what they thought was an opportunity to move turkey back to the kind of democracy that they want. >> general, if we look purely at america's self interests in destroying and tee fedefeating utterly, isis, would we have been better o

the administration is very keen on keeping growth growing. they need a mandate.growth is what provides them that mandate. so they have been against interest rate hikes for years. i see that continuing. broaden theo conversation to other emerging markets. the you think emerging markets stocks are likely to outperform developing markets, even with political turmoil? gary: well, we have playful inmoil everywhere, even developing markets. the u.s. is no stranger to it, unfortunately. beening markets have underperforming. , whichare getting better is not to say that there will be a rally. >> what markets are you looking at been? gary: india still looks good. troughing,hing, -- in terms of a cycle. and the goods and services tax could be passed there. we think taiwan has some great companies in it. good.elds are capital discipline is good. and the technology is excellent. you can find lots of great companies in emerging markets. and currently they are at a discount. vonnie: what about the idea that india and its central bank governor parted ways. what do you see in ter

i am tom keene. in london, giant -- guy johnson. what is the prism of cleveld

tom keene will be joining me from new york.ut italy'sking good banks and talking to a general manager of any credit. we will look at some of the havens, markets. more of that coming up on surveillance and this is bloomberg. ♪ francine: frozen. for more u.k. property funds halt withdrawals after investors look to dump assess after post-brexit. talks between heavily in the european commission over safeguarding the nation's banks hit a wall. a will speak to the ceo -- $12 billion bid for whitewave foods. it is about currencies and organic foods good this is bloomberg surveillance. i am francine lacqua with tom keene in new york.

advisor -- tom keene is here. good time to speak to him. he is the liberal from gary indiana.r liberals, joe 's -- tz great to speak to you. can hillary clinton craft an economic policy that will be enjoyed by liberals and independents combined? yes, i think she can. our country faces three big issues -- slow growth, growing inequality and the two together have meant that the vast majority of our citizens have had a stagnant income for a third of a century. 2008, we express a really serious financial crisis. i don't think we really immunized us adequately against another financial crisis. the problem is, first the diagnosis. how did we get here? it has been largely because over the last third of a century, you wrote the rules of the market -- ote the rules of the market economy. increasing inequality was somewhat intentional. what led totood this, we can find recipes, prescriptions, and that is what she has been doing. that is what i have been talking about. recipes are prescriptions that will simultaneously increase economic growth and reduce inequality. and reduce attentive

hasident francois hollande been keen on this being triggered as quickly as possible.kel is much more slow attitude toward it. the country's massively impacted by this, we spokeor example, with the former prime minister violent -- of ireland. this is probably the biggest foreign policy crisis ireland has faced in years. huge issues in terms of the border. the irish question, last week, the first day she was prime minister, she spoke with three key leaders, merkel, that just goes to show you how important and crucial for the u.k. this is. i would not be surprised if you saw a meeting between theresa may and the prime minister in the days ahead. allowedis britain even to try to start negotiating trading's with any country within the european union? john: no, it is actually very difficult. that is an interesting thing we have seen in the last few days as well. mixed -- the brexit minister in charge of trade , he was saying yes, we are making progress. but it is important this point, and we will see this for the weeks and months ahead, to distinguish the politics from the

he's very keen to get a visa free deal with the european union later. they played their is putting themselves at his mercy. he has been dictating the terms of trade. you a similar thing going on. one of the first things he did was say he might withdraw a crucial airbase in the fight against isis. kerry will be very careful in his choice of words. manus: it is an interesting window, isn't it? these are immediate days after a the reaction. this is his window to really remotelything that upsets him domestically. he can literally go through the whole of society. andan get it all done dusted before europe really objects to him. mark: i think that is right. turkey is a big country, 80 million people. there is a limit to how much say other people can have over internal affairs. the bigger risk is the divided country, a bit over half of the country are big supporters of the president. there are people unhappy about his role. we saw them come out a couple of years ago. i think the biggest danger is hisually about overdoing domestic consolidation and creating som

the reserve bank is not so keen on that option.ther is helicopter money, as it has become known. they are saying it can't have a negative impact, particularly governments funding the policy rather indicative. definitely a hot topic. are things really that bad of australia, that the rba might actually have to deploy some of these measures? it is an interesting picture, because no they are not on the surface. we have year on year growth of at 3.1%. as we saw yesterday, unemployment is still good at 5.8%. on the other hand, there is low wage growth and low inflation, and that is what the rba is targeting at the moment. the next inflation reading is on july 22. if it is weak, analysts think there will be another cap then. we are edging closer to 1%, and rba notes that rate cuts lose their effectiveness as you get to 1%, so they don't have a lot of ammunition left. betty: paul, thank you. we will head to politics. donald trump says he is postponing naming his running mate after that incident in france. let's go to bloomberg's political

so i think we're keen to express that relative value trade as it seeps cross border. >> henry, great stuff. stay with us for a bit. that is henry dixon. >> get involved. e-mail the show. treat signs europe at cnbc.com. we're also on twitter, of course. >>@nancy cnbc, @street signs. >> we're happy to take your questions and your comments throughout this two hour show. in and we have a big event right near the end. we will be baking. that's right. louise and i will try our hand at baging up a storm because we are of course celebrating independence day with some of america's favorite sweet treats. don't want to miss that coming up later. well? i love it. this piece is so you. i know, right? i saw it and i was just like "oh, i have to have it..." is it suede? it's suede. i love suede. state farm knows that every one those moments, there's one of these... well? i love it. this piece is so you. i know, right? i saw it and i was just like "i have to have it..." is it suede? it's suede. i love suede. that's why we're there, with renters insurance, when things go wrong... but also here, with

tom keene is in new york.some euro unemployment figure falling, actually the eurozone area is not doing to

we know that kefauver had a keen interest in some of these activities. he was an ardent supporter of legislation to limit pornography . he headed another committee later on that was interested in juvenile delinquency. commissionse local had initiatives that specifically mentioned that they are concerned with juvenile malignancy. likewere doing things trying to ban comic books or encourage parents to not let the kids go see violent films. he's a something to kefauver committee records don't clarify for me. it may be interested in looking at the local commission to see how much they were corresponding with smaller activities. it is very difficult to find the records of these local groups. they are really fascinating. what are things that has come research? there is an awareness of the shortcomings of these anticrime campaigns. give the fulllly measure of the local involvement in and sometimes local support for the rackets. before things became openly violent. it doesn't indicate anywhere in these records by listening to some of these committees talk that t

tom keene will be joining me from new york.go through massively and moves, central banks, and what it means for commodities. the main story is european banks. we will talk brexit, passporting, and eu stress tests. this is bloomberg. ♪ francine: the bank of japan keeps its monetary policy unchanged. kuroda calls for a review of the effectiveness of policy. the yen jumps. cites limited visibility. hillary clinton accepts the democratic nomination. can she transform her policy experience into a clear vision? this is "bloomberg

a keen observer -- i'm calling you a keen observer -- of american politics.est dispatch from the convention is titled a vicious campaign. also with us is jennifer jacobs. she wrote a piece today about donald trump junior's political ambitions. thank you for coming. jennifer tell me about your , impressions of donald trump junior's performance last night. jennifer: he seemed intoxicated about being on stage. he really ramped up the excitement. you could tell he was loving it. at a breakfast this morning, he was asked about his political ambitions. he said maybe once his kids were out of school. he said this is something he would like to consider. mark: what is your impression of him? jonathan: he is much more like a professional politician than his father. he was actually better at that than some of the people that had gone before. he looked as if he is been doing it a long time. i agree you look like a enjoyed it. he fits the profile of a conventional politician much more than his father. mark: and a conventional conservative. >> he's talked about policy and

tom keene's conversation with christine lagarde.loomberg. ♪ ♪ >> donald trump has not been shy in saying what he should be our next president. one of the reasons is that the businesses he has built and the way he accumulated wealth. bloomberg news looked at how wealthy mr. trump really is. ps just written a piece out on the bloomberg. caleb, what have you found? >> 12 months later, his net worth has gone up $3 billion. to $3 billion, less than the $10 billion that he claims. that is what we can account for. you incomfortable are these numbers? there is a fair amount of appraisal and estimation. >> exactly. you never know what a building will go for unless it actually sells. some of the trophy resort properties, you could expect someone with a healthy premium above the revenue the businesses are generating just for the sake of owning them. financeumbers basis, a basis, we feel confident about the range. >> his properties are worth more, he has also borrowed a fair amount. >> he has a $170 million loan against the new hotel and washin

will be keen. anchor: here in europe france has completed three days of national mourning.irst peter say that the attacker had to radicalize only a couple of weeks beforehand. they said the man expressed sympathy for phonics state. trust in the government had plummeted. >> this was the reception that france's prime minister copper mourners in nice. but down as he has performed a really -- weary ritual. the nice attack was france's third major terrorist incident in 19 months. their sense of life has been shattered. today since july 14 i only see sad people which is the total opposite of what i used to seeing. it is the first time i was able to come here since i cannot have the strength or. >> there is always life here on the promenade and all that have suddenly ended. in paris, france w will hold on let a minute of silence. lls indicacate that t only a thd of the population belieieves cephalon can meet the challenge of terrorism. interior cabinet minister announced 3000 more police officers. after a defense counsel meeting he cautioned people. >> of course the means we are m