down to nairu. nairu, do we have a clue where there's economic concept is?ct that policymakers are having to change their mind tells you this is an empirically based concept. we will change our minds as we learn what is going on. at 25 years we have two observations of where the unemployment rate got down to at the peak. we had no inflation problems in the late 1990's. we do not really know, we change our mind as we see what is happening. tom: that gets you set up for the jobs report. what we do know is we have a data check. some markets open, many not. dow closing yesterday. two-year yield, 0.53%. to four digits in a little bit shoving lightness and the estimates as we get in 14 minutes. olivia: this is bloomberg "surveillance," on olivia sterns with tom keene. some top headlines. israel's slammed the iran nuclear deal. john kerry and his iranian counterpart revealed terms to stop iran from building nuclear weapons. both sides say it is historic but not the final step. president obama must persuade congress to ok the deal. the campus massacre in kenya as th