dan skelly, morgan stanley wealth management head of market research and strategy.om: you can do this on the bloomberg, folks. we have this huge advantage, we feel, within the financial tv worldwide and radio worldwide. if apple got back to where they were on their balance sheet of cash, they need to find how to spend $25 billion fast. jonathan: i think they know the best way of doing that because we have seen that repeatedly over the last several years. jonathan: -- tom: that is a huge number. they need to figure out a delta of $25 billion today to figure out how to get back to a comfortable cash raise. jonathan: do you want another big number from morgan stanley? you brought up payrolls a little bit earlier. payrolls, 1.2 5 million dollars is their estimate. right now, the median, $900,000. tom: this is so important. we are going out to michael feroli, we will find 7 million employed over the summer. lisa: does this count for jay powell? bully address that? -- will he address that? jonathan: we will figure that out later today. equity futures unchanged on the s&p.

jonathan: dan skelly, morgan stanley, as we take a moment to agree on something.oomberg. ♪ ♪ >> if things normalize, we are going to see a shift back towards services, and that means taking some of the pressure off the goods sector. >> the mentor liquid at the out there, for trillion dollars plus in money markets, saving rates near all-time highs, all of these bode well for the architect. >> this is all reopening, fiscal stimulus. how much does behavior change? >> there will be i think temporary inflation over the next 12 to 18 months. >> long-term big picture, the fed has a long track record

but this is germany ready for the shake up that she stands for and a very warm welcome to 2 during skelly of the irish times who argues that mark has . the ultimate kiss of death from a national campaign before it can even get underway. first thank you very much for those 3 statements a lot to talk about clearly me you know let me begin with you and ask you support shelters happened in the last 567 days or so for people who. well for people outside germany it's now becoming clearer who the faces are that are going to be relevant in germany in the next couple of months until we go to the polls in september because of course for a long time and i couldn't understand why do you in the c.s.u. so long to battle this out it looked as though the cd you still believe that they could go into this campaign with america as their figurehead when it's clear it's been clear for a very long time that she's not going to run again this week they finally decided it's going to be it and then the greens didn't have that rivalry going on a tall they presented a very silky smooth campaign and they may see how

during skelly of the irish times who argues that mark is a scam paid the ultimate kiss of death from a national campaign before it can even get underway. first off thank you very much for those 3 statements a lot of talk about to leave me no let me begin with you and ask you to put some in a nutshell what has happened in the last 5 $67.00 days also for people who saw in germany people outside germany it's now becoming clearer who the faces are that are going to be relevant in germany in the next couple of months until we go to the polls in september because of course for a long time and i couldn't understand why it took the c.d.u. in the c.s. used so long to battle this out it looked as though the c.d.u. still believed that they could go into this campaign with america as their figurehead when it's clear it's been clear for a very long time that she's not going to run again but this week they finally decided it's going to be it and then the greens didn't have that rivalry going on a tall they presented a very silky smooth campaign and they. have stage management now. is there is that

but this is germany ready for the shake up that she stands for and a very warm welcome to to during skelly of the irish times who argues that. the ultimate kiss of death. campaign before it can even get underway. thank you very much for those 3 talk about you know let me begin with you and ask you to show what has happened in the last 567 days also for people who. well for people outside germany it's now becoming clearer the faces that are going to be relevant in germany in the next couple of months until we go to the polls in september because of course for a long time and i couldn't understand why it took this. long to battle this out it looked as though this you do you still believe that they could go into this campaign with a. figurehead when it's clear it's been clear for a very long time that she's not going to run again this week they finally decided it's going to be and the greens didn't have that rivalry going on the tool they presented a very silky campaign and they. have stage management now. is there is that now a vacuum looking forward to the election the green sort of court f

other agencies refer to it as a "skelly hearing" we refer to it as a "chief's hearing." the chief's hearing them is heard by one of our five deputy chiefs. so we have five deputy chiefs. if the deputy chief under whose command the member is cannot hear the case. okay. if there's a conflict that we talked about and there could be any number of reasons for a conflict. chief referenced the recusal process, so it might be that i'm the deputy chief, but you're outside of my command but i see a reason to recuse myself, that deputy chief is afforded the opportunity to do that. what then happens is the member comes in with his or her representative and states their case as to why a multitude of things. they can disagree with the findings saying i don't think it should be sustained or they may come in like they had done previously in the internal affairs investigation interview say, "yes, i did this, but they want to come in and they want to appeal for lesser discipline." the department is also going to put on its case. what happens after that actual, that meeting, that hearing i

other agencies refer to it as a "skelly hearing" we refer to it as a "chief's hearing." the chief's hearing them is heard by one of our five deputy chiefs. so we have five deputy chiefs. if the deputy chief under whose command the member is cannot hear the case. okay. if there's a conflict that we talked about and there could be any number of reasons for a conflict. chief referenced the recusal process, so it might be that i'm the deputy chief, but you're outside of my command but i see a reason to recuse myself, that deputy chief is afforded the opportunity to do that. what then happens is the member comes in with his or her representative and states their case as to why a multitude of things. they can disagree with the findings saying i don't think it should be sustained or they may come in like they had done previously in the internal affairs investigation interview say, "yes, i did this, but they want to come in and they want to appeal for lesser discipline." the department is also going to put on its case. what happens after that actual, that meeting, that hearing i