many people -- it was listening to -- it was interesting to listen to lloyd blankfein talk about this yesterday. lloyd was joking. that caused a ripple of laughter. it will be interesting to see how this progresses. the other name being talked about, not for this role. the parlor game in full swing to see those key roles. from newoining us live york. we will check back in with you later on in the program. anti-trump protests are continuing. these are live pictures from oakland. there have been rallies across the united states. still with us is simon, chief currency strategist at ny mellon . what are your initial impressions? the contours of this new cabinet taking shape. thing we genuinely know was what was in those pledges. things like dodd-frank, we have seen. , callingcture spending china a currency manipulator. let's get a little bit more details about those things before we start making judgments. yousef: the foreign exchange market, simon, somebody described the reaction as brexit on steroids. there was a knee-jerk reaction. it was unwound around the dollar. talk to me about the

and i well card could be jamie dimon as treasury secretary with lloyd blankfein saying that he could be great for that role . that is what you need to know. $1 trillion wiped out of bonds. that has only happened once in the last two decades. joining us is andrew balls. he oversees more than $46 billion in assets. he joins us from london. great to have you here. and unbelievable week and the bond market. is the search for the yields over? andrew: unbelievable in many ways. you have seen a pricing of inflation in the u.s., fiscal policy to be increased in the u.s. and the possibility of a pastor federal reserve. it all makes sense. you have to say there is a lot of uncertainty in the outlook. it is likely that under president trump we will see more fiscal expansion in the u.s.. there is a host of other uncertainties including trade. we have been expecting a , terming of risk premiums risk premiums, we are seeing that. there is a lot of uncertainty in yellow. alix: i am hearing from you that it is a dip. is this sustainable at some point? andrew: you are seeing a steepening of the curve

i said to lloyd blankfein, if jamie doesn't take it, would you take it?ep didn't turn it out so quickly. >> and what irony would that be, the goldman sachs ceo becoming the treasury secretary. >> you saw the play and love the play -- >> i read the book, long before i saw the play. >> i think the good news about hearing a name about jamie dimon floated out there, even if it's unrealistic, is the fact that it demonstrates to some degree -- >> how radically different it would have been under hillary clinton. think how radically different it would have been. elizabeth warren wouldn't want -- >> i was going to say something different. just how seriously donald trump is taking this. and to the degree that people in the markets would say, okay, he's serious about this. now, i don't think he's ultimately going to get jamie dimo dimon. i think the greater likelihood would be steven manucci, but to a degree, it shows a semblance and vigor about what this is all about. and had hillary clinton won, you wouldn't have somebody from industry. we've talked about that a l

had a similar conversation with lloyd blankfein. talk to a number of guests about trump, what it means to the markets and the economy. we'll walk you through some of the disney earnings. show you some tape of bob iger, th and something from shari redstone. that's what we have on deck this morning. >> what did the ceo of pepsico after the results of the election? she needed a tissue box? >> she needed a tissue box. to her credit and to so many people who spoke yesterday, who, as you guys were talking about, people who might have been on the other side of donald trump on this election, all of whom said they were coming out and supporting him and the country. >> they want him to be successful. >>> coming up, more on that trump rally for the markets. we'll get thoughts on the markets from jack caffrey. he's coming up next. >>> the so-called trump rally sending the dow to a record high. it's already up more than 5% for the week alone. the s&p 500 up 4%, the russell 2000 up by 7%. joining us now is jack caffrey, global portfolio manager f

. >> the goldman sachs ceo lloyd blankfein is not surprised by the financial rally. he spoke to andrew ross sorkin. >> his policies are market supportive. i'm not saying it's good or bad -- you have to draw a different set of conclusions depending on your attitude about everything else, just as far as asset prices are concerned, how could you not be looking up? >> i woke up extremely bullish on trump, believe it or not. my thinking is as follows, united states is the greatest business in the world. it's been undermanaged for a long period of time. we now have a businessman in the president's -- as the president, and he has power. because republicans control congress, republicans control the senate, he's going to launch a major infrastructure program. he will take corporate taxes down to a sensible level and get rid of loopholes. he's going to get a lot done. >> let's bring in a market voice, alex dryden just joined us around the desk. the trump trade, does it have further to run or are markets getting ahead of themselves? none of the policies under mr. trump have bee

i spoke to lloyd blankfein a month or month and a half ago talking how many years will it be before somebodyn goldman sachs can serve in government again and he was saying of course these things go in cycles, but he didn't think the cycle was ending. that was something of a surprise. certainly so was the election of mr. trump. >> your point is right with the interview this morning. not idealogs -- >> i think it will be embraced by corporate america. >> not just deals but like deals with risk. coal mines out of horizon, indy mac, guys that make a bed and stay with it. >> steve mnuchin understands lending. i remember the indy mac call it's going to be fine, don't worry, and then it collapsed. he came in, took it over, flipped it and made money. but he knows how to lend. at goldman, i hate the term sophistication because it does have connotations of, well, listen, other people don't know what they're doing. >> no, don't forget treasury is a huge bureaucracy with 86,000 employees. >> you don't think he can handle it? >> i would expect that he will be able to. but his experience is not necessaril

i wrote today, did you see the closing ad with the image of george soros and lloyd blankfein, stephenney with both of them, at goldman sachs and you rent a hedge fund affiliated with george soros. his career is one success after another, hollywood blockbusters, eachught one west bank and step of his career typifies the kind of triumph that a lot of americans rebelled against and were angry about. you cannot avoid the simple fact that the people around trump, the financiers, a lot are billionaires. eisenberg of the rnc, not only a goldman sachs partner, he was stephen's dad's partner at goldman sachs. you may think donald trump surprises this but they helped him win. vonnie: he ran on the idea of being an outsider but had a lot of insider friends. there was economic advisers, a t of them. i talked to them all over the last few months. they will all want to be treasury secretary or part of his cabinet in some way. how can he keep them all happy and we are watching the president-elect who has landed at washington reagan national and meeting with the president. we will have live shots fro

interests, he saw four people on the screen -- hillary clinton and george soros, janet yellen and lloyd blankfeinjuan: if i can, let's go to that ad. we have a clip of it here so our viewers and listeners can see and hear what you're talking about. this is the ad. >> the establishment has of dollars at stake in this election. for those who control the levers of powower in washington and for those dust the global special interest, they partner with thesese people and don't have yr goodod in mind. the e litical esestablishmhmentt is trying to stop usus is the se group responsible for our disastrorous trade deals.. massive,e, illegalal immigratio, and economic and foreign policies that have bled our country dry. the political establishment has brought about the destrtructionf our factoriries and ouour jobs they flee to mexico, to c china, and d to other c countries all arouound the world. ththe globalal power structure t is resesponsible f for the ecocc decisions that hahave robbed our working-class, strippeped our coununtry of its well,l, and put of amoney into the pockets handful of large of a han

lloyd blankfein said he's seen a few terrific aspects to the prospects of donald trump asking jamie dimono serve as u.s. treasury secretary. that came after a report that trump advisors are considering the jpmorgan boss for the position. blankfein said he would be a great treasury secretary. that is the bloomberg business flash. francine: i like a little bit of tongue-in-cheek. people are keeping their spirits up and humor. salek.so much, sebastian as the world grapples with donald trump's brexit plus plus plus as he said it, his words, not mine, the u.k. continues to work toward the original version. we talk about what impact the u.s. election might have. first let's break down the immediate challenges. adam marshall is director general of the british chambers of commerce. clearly whatvery your main concerns for brexit were. amongst them, finding talent. why is this going to be a problem? certainty, stability, clarity, action. these are things businesses are telling us. they got a little more clarity on the prime minister's timescale when she announced she would trigger article 50 two ex

donald trump -- his last ad had lloyd blankfein portrayed as one of the big corporate villains out there, yet here we see far and away goldman being the biggest contributor, adding about 170 points to the dow. julie: that is right. note -- theeresting main questionnaire getting from clients is the corporate tax cuts. trump wants to drastically lower the corporate tax rate from 35% to 15%. goldman says that alone could double the growth in s&p 500 earnings next year from the prediction of 10% to 20%. we honestly will stand a good chance of running a good -- bigger deficit mean a greater supply of treasuries to be sold. treasury yields rising stronger this week -- longer-term, especially 30 and 10-year. it is a good sign for banks. that is why financial shares are far and away the leaders of the market. it begs the question what does that mean for the rest of the economy as interest rates go up? ahead, much more discussion of the u.s. election, including insights from wilbur ross, bill gross, and others, on what investors can expect from a trump presidency. plus advice for the new presiden

he also worked for george soros and lloyd blankfein's face were flashed on the final donald trump ad.is strongly affiliated with these guys. if he were here, he would say he is less interested in catering to what they think then spreading the donald trump populist message. carol: big questions remain about what will happen to donald trump's businesses. interest.nflicts of >> we can safely say it's an unprecedented level of conflict of interest. when we think about the donald trump assets, there are three big things to think about. the first is his international licensing agreements. he has licensing and management deals with developers in uruguay, the philippines, south korea and that can obviously influence things. there is his new hotel in washington. he is a licensee to the federal government there. he pays rent to them to run that hotel. that's a big one and the third one is deutsche bank which is currently in negotiations with the department of justice and has other settlement discussions coming down the pipeline. that was originally going to be $14 billion and donald trump has $

commercial at the very end of the campaign he mentioned financial institutions and he had a picture of lloyd blankfein in that ad. are we too quick to think that donald trump the campaign er is not going to be donald trump the president? >> well, during the campaign -- >> the floodgates are open. you raised the price target on every single financial you cover. >> we were positive before. we're positive after. you have a republican senate, republican house, republican president. so i think for the banking industry you've avoided some scenarios that have been tougher from a bank regulatory standpoint. so we're certainly positive. now you said on the campaign trail, let's bring back eagle. this is the end of the financial crisis. the financial crisis finally ended november 8, 2016. you've gone now from bashing the banks to get votes with the electorate to facilitating economic growth. you can't always have it both ways. if you want growth, you're going to need banks to be your partner to lend more of that money. banks have built up $1 trillion of extra cash. $3 trillion of deposits. you want to put more

. >> the ad features money with photos of george sor oh, s janet yellen and lloyd blankfein.n calls the new ad a german shepherd whistle. watch this. >> well, when i saw the ad i thought that this was something of a german shepherd whistle. a dog whistle. to sort of the -- a certain group in the united states. i think -- i'm jewish. maybe i'm sensitive to it. it clearly has elders of zion feel to it. international banking crisis. a plot or conspiracy. then a number of jews. >> what's your reaction? >> i'm with alan on this one. you know, look. a lot of what's in the ad, think, is true and resonates with a lot of americans who aren't antisemitic or racist but feel like their way of life is slipping away. maybe the factory closed down in michigan or something. donald trump, the way he wins is by talking about, he's the change agent and an outsider running against the establishment. he's tapping into the anti-free trade protectionist thing bernie sanders tapped into. you can call it anti-globalism. some people think it's a code word for antisemitism. i think the thing is it's ab

columnists have noted that there are three other individuals in the ad, george soros, janet yellen, lloyd blankfein the chairman of goldman sachs. all three of them happen to be jewish. wa w what was your take when you saw the ad? >> well, when i saw the ad i thought that this was something of a german shepherd whistle, a dog whistle to sort of the -- certain group in the united states. i'm jewish. maybe i'm sensitive to it. but it clearly had sort of elders of zion sort of feel to it, international banking crisis plot or conspiracy, rather, and then a number of jews. so i think that it does speak to a certain part of his alt-right base. bannon, head of breitbart, is his chairman. they traffic in that. trump has retweeted a lot of that sort of thing. and i think that it's an appeal to some of the worst elements in our country, as a closing argument. i think that people who aren't sensitive to that or don't know that history might not see that in that. but that's what i immediately saw. >> i want to ask you about this news broken by reuters that the clinton foundation confirmed that it did accept a

am, the oddball kinds of things -- >> his closing argument had a picture of janet yellen and lloyd blankfein and george soros talking about the global elites who are working against you, as if there's a conspiracy of global elites, which is the clintons and some powerful jewish people that is out to take your country away and i'm going to give it back. i don't think a guy like that wors about the markets being down on account of him. i think he takes it as a badge of honor. >> what do we think they'll do with interest rates in december? you can utterly forget about the people who think that climate is a real serious issue. >> it's a hoax invented by the chinese. >> chris matthews, i'm sitting here rewinding the last couple days, because there's going to be as james correctly points out, the kind of obituary of all obituaries written about this. trying to reconstruct the signs that were out there, and the people who said something on your show, some people came up to this line, saying, i predict -- andrew sullivan. i remember andrew sullivan being very declarative on thursday night or friday

lloyd blankfein, all prominent jews, flash on the screen. to those who may not know better , such an ad would seem innocuous. but to me, its message is obvious. the ad's antisemitic overtones which draw on an old and hateful conspiracy theory about jews controlling banks and financial markets were obvious to me. i call that a german shepherd whistle, designed to be heard in some of the darkest remaining corners of our country and our world. a politics that relies on this type of innuendo, stephen bannon's brand of politics has no place in a modern presidential campaign, and it certainly has no place in the white house. let's be clear, mr. president. the use of racially charged rhetoric and innuendo is repulsive. the very purpose of deploying dog whistle politics in the context of a campaign is to attract the support of people who harbor hateful ideologies without offending the sensibilities of more mainstream voters. every member of this body, mr. president, should condemn rhetoric that sows the seeds of discourse. it is our obligation not j

that two-minute thing, he talked about the global power structure and he put one of your peers, lloyd blankfein in the ad. that didn't freak you out as somebody who runs a business like that? >> look. he has got all sorts of things running through his mind. but ultimately, deep inside of him, he is a borrower, and he is a driver of business. he thinks in his soul that banks legend money and that drives the economy. that's how he has made all his money. that's how everything he has done -- so you've got to rely upon the fact, he's going to let banks do more things. he's not going to maybe not think about investment banks doing more of this or that. but just banks letourneau leblond lending to people and lending more money. you've going to see financials explode higher, because they're going to do better without the shackles being put on him and put on him and put on him. and by the way, i think that's going to be really good for the economy. because i've always had this view that banks are the children of the fed. you beat on them when '08 happens. but you don't shoot them. you take them to the

international trade largely but this is an internal problem basically, and just -- a quote from lloyd blankfein, a ceo of goldman sakes sass technology requirements have based entry higher than any other time in modern history. sadly he wasn't complaining about that. he was explaining this was great for his company and others companies like his because it made it possible that competitors would not be able to challenge him and his company and that extra profits could be earned from that. he was pointing that out as an advantage for himself. the problem is that we see this all the time with accumulating burden of regulations and so forth. an institute just issued a study back in june where they are calculating what the regulatory drag on the united states would be, and i highly recommend looking at the study. basically our economy is $4 trillion poor than it would be because of the trade barriers. even more startling study was done in 2013 by john dawson at appalachian state university, and north carolina state where they calculated the following. i if you could emergency keeping the regulatory

she is very close to goldman sachs ceo lloyd blankfein.hese are friends of hillary that are actually conceding there is a path to victory for donald trump albeit an uphill one. why does goldman sachs care for election? as you know, we've been reporting on your show the markets are reacting selling off, because of potential. we're on five straight down days since fbi bombshell came out. which means markets are scared of donald trump being president. neil: you're right. good seeing you. charlie gasparino. every 20 years or so i talk to this guy. he is a great mind. finished a great book. former ceo of pixar, "toy story" fame, i don't think he made a bad movie. he writes pixar and beyond. while he and i were chatting during the break, indulged my cures are tow to bring -- cure ross city into this. he is not political person at all. that was a tough sell for pixar folks to accept apple, this conquering behemoth and steve jobs at the time, monster control freak, to keep that free spirit going and to get stuff done. it worked. you elaborate on t

lloyd blankfein is also in the commercial, goldman sachs. and, listen, main street hates wall street. in fact, main street hates big business. the only thing they hate more is congress. so it's a brilliant ad in that respect. but if you're asking specifically why would wall street be afraid, look at the first minute of that commercial. neil: interesting. one of the things that's come up is wall street loves divided government, the white house under one party's control, congress under another party's. the clinton years bring that to light after '94. and that's kind of what they see going on here. what do you think of that? >> i think long term a paralyzed government is going to continue to erode our economy. we're not going to get back to growth until we start moving again. we need a ninth justice, and we need to pass budgets, we need to pass tax reform -- neil: celebrating not getting anything done, even if it's the stuff you don't want to get done -- yeah. >> the government has shown in the last 15, 10 years that it doesnology. and i think

it does not make it any more easier for jamie dimon when lloyd blankfein comes out and says he is greatlaughter] jonathan: frank discussions in a warm atmosphere. shinzo abe meets donald trump and says he is a man he can trust. an important conversation coming up with st. louis fed president james bullard. the markets potentially poised for a second straight week of gains. futures a little bit softer ahead of the open. a single-digit on the s&p 500. on the bond market, a year to date high a little bit earlier. we are down by a basis point. king dollar and dollar strength was this same -- the theme earlier in the session, but not anymore. just marginally. will we close out the longest losing streak in the history of the single currency in the history of the u.s. dollar? this is bloomberg. ♪ jonathan: what does a trump presidency mean for the federal reserve? in the background, a dollar index approaching highs we have not seen since 2003. right now, an important conversation over in frankfurt. matt miller is with the st. louis fed president james bullard. matt? jon, thanks very much. jim

rhetoric on the campaign -- he went after lloyd blankfein at goldman sachs in a full frontal assaultgoldman people as senior positions. trying to discern whether donald trump is being honest or consistent is hard. tom: please give me the video of the dinner. i want to editorialize that i think governor romney started with dessert. that is very desserty. .> it looks to me like s'mores francine: this is what i have. >> it looks better than you or me. francine: that is true, you and i have never eaten with linen tablecloth. is true, you and i have never eaten with linen tablecloth. will mr. trump clarify and clear the tax issues that you are the world authority on? >> donald trump should release his tax returns, people should be encouraging him to do this in his team. it would not cure the conflict of interests but i think voters in the american public generally need to know what kind of business and financial interests their president has. donald trump has been elusive on this. tom: can you summarize the what mr. trump is possibly doing is taking many business to the actions and bringi

have provided evidence come of closing out of this administration targeting janet yellen and lloyd blankfein this new story that trump is great for banks. there has been nothing specific on this and there is an anti-finance populist element that needs to be considered as a possibility that could come out of this administration. david: not all banks are the same. if you read his policy positions , a distinguished between small community banks and the big ones. >> if you look at the community banks index, it is up. money is flying at all of the banks without any sort of whatever. [laughter] >> i'm looking for some word. julie: they have been correlated. you talked to investors that are bearish. it is hard to find them. >> it really is. if you look at all the bank calls for next year, the last couple weeks have really defined how they see the future. ,igher rates, more inflation u.s. equities are skeptical of emerging markets. this snapshot has really informed everyone's views. a lot of potential for disappointment in the future. julie: that is the story of the markets to some degree. >> but al

david: he had ads that named lloyd blankfein.up the big banks on wall street. a very populist message. but now, he seems to be turning back to -- turning back the clock in some ways of bringing back a senior executive from goldman sachs. it seems like a lot of the campaign promises, probably not so much right now and going back to what we saw when -- became secretary. to europe ofring deregulation, which could ultimately be profitable in the short-term but harmful for the united states in the long-term. secret of the no fact that he was against regulation when he was campaigning. neil: that's true. he did talk about bringing back glass-steagall. so the regulatory theme, with solid rules, it would help protect the financial system from the excesses of large, too big to fail institutions. that is what he campaigned on. the deregulatory side? and the breaking up of the banks or changing the nature of the banks? be a fieldgoing to day for the big banks? david: what did we learn or what should we have learned from 2008-2009? someone s

lloyd blankfein. >> speaking of people he doesn't like, jeff bezos at amazon was not a favorite of mr. trump's during the campaign. he threatened him, threatened amazon. be curious to see how that stock does today. >> and by the way we're getting a statement from peter thiel this morning. he famously said that the media took him literally, not seriously. his supporters took him seriously, not literally. thiel out this morning with a statement saying it's going to require a lot of hands on deck to bring mr. trump's vision to fruition. >> you know who did take him seriously? people who followed the real donald trump. i wonder if twitter is not worth more today than it was yesterday since it may have elected a key player in the election. twitter. machine learning. social, mobile, cloud, poorly run company. in other words, buy? >> no, listen, that's another side story to all of this. and i know the pundits will talk a lot about it how little he spent, how much he was able to gain, how he went about getting his message out there, turning it all upsidedown in terms of spending and ads. >> r

lloyd blankfein who is in the commercial has one vote.d one of the counties no one thought would flip for hillary. lou: that's a souped up one vote. [ laughter ] >> reminds me of michael moore, the filmmaker michael moore was saying who is a clinton supporter, he basically said this is going to be one giant f-u to the political elite. neil: we're a family broadcast here. trish: forgive my french. he basically was saying. lou: it was the french alphabet. trish: exactly that, that lloyd blankfein and the wall street bankers have one vote and there's a whole lot more people that are hurting and they've had it, and they have seen this as a railing call and they are out there in droves and numbers that previously you haven't seen. i'm looking at the women angle in florida as we watch this tight race in florida and so many people said there was going to be a huge gender gap, and to a certain extent that has played out. not necessarily in florida, where you know, i think it's by far closer, and this could be what really launches the rest of the