michael regan with bloomberg gadfly is joining me woul now. us talk about brazilian etf's because many of them have been doing really well this year. michael: with all the pessimism and everything you read about the olympics, it is still full of pessimism. for the markets, it has been pure euphoria for as i brazil. the currency has rallied a lot too. if you are buying an etf, like the main brazilian etf, they are up about twice that, in the 60 percentage. julie: earlier in the year, this has to do with the possibility ilma doma reset -- dom rousseff would be removed and she was on an interim basis. and move during that sideways or has it continue to go up? michael: there's a lot of optimism about the acting president and his cabinet's being called the economic dream team by goldman sachs. the forecast growth for next year is only about 1% in brazil for gdp. the profit growth is expected to be better than that. marketward p is on the are not too high, but the trailing piece are. julie: are there other ones that are more specialized? michael: the

joining us this michael regan, bloomberg's gadfly columnist. club?ding michael: this was sort of a messy quarter in part because of the costs to dig themselves out of the mess they got into in the group. there was also something new we did not know about, there was a goodwill write-down after the acquisition of a company called spring stone financial, which was educational and medical loans. byy had to write that down about 35 million dollars. they also had incentives to keep investors happy and keep them engaged on the platform. that was about $14 million off of their earnings. so sort of a messy quarter. the real question is when will they become profitable. it does not look like a third quarter in a forecast. david: another thing that struck me as they changed their cfo. he stepped down to pursue other opportunities, and they have an interim cfo. what is that all about? michael: initially the stock reacted negatively, and it recovered a little bit today. it is getting close to flat for premarket trading. i kind of headline, and that is obviously w

joe: for more on today's market and -- i want to bling bring in michael regan. what jumps out at you? >> this trading range we have been stuck in forever is holding firm, a little selloff today, stuck in we have been this flat narrow trading range, there has really been a rotation going on over the past month industries,clical technology, financials, industrial companies leading, and not so much utilities, consumer staples, high dividend stocks, so it begs the question. is this a rotation from one leadership to another? that has not been the case all year with strong cyclicals in the lead. since 1958, s&p 500 dividend yield is the highest it has been relative to the 10 year yield since 1958, that was before any of us were born. >> is the lowest the treasury yield has been. matt: that's true. there is the animal spirits of charisma about the economy. i have been a pessimist. i felt these high valuations would make it tough for the market to keep rallying from here. there are some things that you can look at and say the economy is improving. one of the things is t

shery: michael regan, bloomberg gadfly columnist.coming up in the next 20 minutes of "bloomberg markets," london properties are taking longer to sell this month as the brexit effect spreads to housing. how far will the impact spread? vonnie: wti crude continuing its climbed thanks to speculations they will revive discussions to stabilize the market. and the time in new york is 2:10. look at the markets right now, all in positive territory. sixthtocks extending the weekly advance in two months. s&p 500 up .4%. utilities going to the back of the pack next commodity firms leading the gains there. this is bloomberg. ♪ shery: this is "bloomberg markets." i'm shery ahn. vonnie: i'm vonnie quinn. data will be scrutinized to gauge the impact of the brexit vote. it is the first part of data the referendum. earlier today, london bureau chief discussed what we can expect from the hard evidence. >> we have inflation data which will be interesting. we will start to see not in the headlines but in the subcomponent evidence of the impact of the wea

joining us with more is ramy inocencio and michael regan.ore we get into the currency and terms of expectations for jackson hole, what are we thinking that the dovish comments from the fed and bullish and hawkish comments. what are your thoughts? beach, it seems to change. stanley fischer seems to be laying the groundwork for a rate hike. in general, i think the general idea is most people believe they will stand packed, at least through the election. the action in the dollar is really backing that up. people are pretty confident they will stay where they are, at least through the election. david: fed futures are pricing in a 28% chance in september. the currencies, the u.s. dollar is up about a quarter percent now. talk about currencies and the etf now. what are the best performing so far the sheer >> they are the ones tracking the yen. yen is up about 40%. the currency shares etf is the fxy up about 9%. the dollar weakness has been good for some of the funds that are basically tracking other foreign currencies. david: if an investor wants

i was talking to michael regan about etf's. here is the brazilian benchmark. the five-day action trading at its highest since last may. all year we have seen a gain in brazilian stocks on the political turmoil we have seen their. now there is an acting temer, butmichel there are questions now has to participation in some of the things that got doma rosato out of office. if you look at some of the stocks go to most, petrobras. the oil producer is rising more than 3.5% along with oil. other commodities coming out of brazil are also active, although this time to the downside. orange juice and coffee are that is notday, but putting much of a dent in the stock rally. scarlet: thank you. oliver: let's get a check on the first word news. delta airlines struggling to restart its worldwide operations after the computer crash made things a mess. the crash halted flights for hours. cancellations and delays will continue throughout the day. delta blames a power failure in atlanta. the airport there says no other airlines were affected. this satisfied republicans now have

i mean, at this stage of the campaign george bush xli was behind michael dukakis by 16%, ronald regan was behind jimmy carter by numbers fairly similar to what you just showed right there. in fact, some of those are within the margin of error. so i'm not concerned at all. i think donald trump this week had an excellent week, much, much better than hillary clinton. in fact, she kind of disappeared for the week except for her one appearance that i remember where she sat with a couple of democratic appointed police chiefs trying to claim that she has police support, and i know -- cop in the united states that supports her. and i know a lot of cops. and -- >> let's talk about -- >> he -- he -- he -- what he did this week was he outlined in great detail what he wants to do for this country, about islamic terrorism, about the economy, about bringing jobs back. he then made an audible, meaning he changed his schedule to go down to louisiana to bria tension to the people of louisiana while the president is playing golf. >> the president says of course he's going down on tuesday. that was part

adam: michael brown, the former director of fema under president bush was on the 2:00 p.m. show, "the intelligence report" with trish regand the optics of the president playing golf while thousands are clearing out the debris from their homes is devastatingly horrible for the president. >> you know, and i also think trump said something interesting when he spoke about it last night. he said part of our country is suffering, one of our states is in trouble and we all feel it, we all need to support those who are in trouble. i found that really uplifting, because so many times in america today we're told, we're against each other, against this, this group against that group, and this is somebody saying let's rise above it, forget about the partisan politics, one of our brothers is suffering, i'm going to go down there and relieve it. i was really very moved by that. adam: k.t. mcfarland, i'm afraid we're out of time. the sister who tells me not to use big words is my sister-in-law, the former prosecutor. k.t., thanks. >> thanks. >> donald trump spending $4 million on first television ad by the topic, immigration and securit