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Speaker 1: Global business news twenty four hours a day. If Bloomberg

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Speaker 1: dot Com, the radio plus mobile last and on your radio.

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Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow.

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Speaker 1: The after shocks of the UK's vote to leave the

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Speaker 1: EU reverberating across financial markets after a weekend of political turmoil,

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Speaker 1: with a pound extending its records, sell off in European

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Speaker 1: equities dropping to levels last seen in February. Let's go

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Speaker 1: to the First Word Breaking news desk for today's morning call.

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Speaker 1: Here's Bill Maloney, Good morning Bill, Good morning Karen. That's right.

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Speaker 1: Breaks it followed continues with the U s features under

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Speaker 1: pressure this morning. Death fugure is lowered by a hundred

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Speaker 1: nineteen points, says to the futures dropped fourteen and Nazak

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Speaker 1: futures to climb by thirty five. The US ten yeeld

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Speaker 1: drops to one point for seven percent. The knee k

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Speaker 1: jumped two point four percent overnight. Well. Europe is also

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Speaker 1: under pressure, with most markets down two percent. The pound

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Speaker 1: fell below Friday's low and the UK ten yeeld drop

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Speaker 1: below one percent for the first time on record. On

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Speaker 1: the US Economic Frinday thirty advanced goods trade balance at

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Speaker 1: market U S Services p m I and it's ten

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Speaker 1: thirty Dallas fed. In other news, The Financial Time supported

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Speaker 1: that Intel is set to a sale of its cybersecurity unit,

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Speaker 1: and in deal news, Metronic to buy HeartWare for fifty

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Speaker 1: eight dollars to share in cash. Finally, some of your

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Speaker 1: wallsheet upgrades and downgrades. Bank of American downgrades is Semis

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Speaker 1: and XP analog Devices, and maxim Investco cut to neutral

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Speaker 1: over at City Group. Manpower Group downngraded to neutral trade,

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Speaker 1: sweet ad Co cut to underweighted. Jping Morgan and Leonard

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Speaker 1: raised outperform over at Raymond. James live from the First

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Speaker 1: Breaking News desk on Bill Maloney. Karen thanks Bill to

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Speaker 1: hear live breaking news over your Bloomberg type squawk a

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Speaker 1: go on your terminal. That's squ you a w K

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Speaker 1: go and that's a Bloomberg business flash. Tom and Mike, Karen,

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Speaker 1: thanks so much, stability to the tape. We're negative eighteen

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Speaker 1: before now we're negative fourteen as well, and now joining

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Speaker 1: us the washing floor Post. We're in Washington and the

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Speaker 1: Brookings Institution and the man we UH turn to for

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Speaker 1: good political advice and the men that perhaps uh the

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Speaker 1: owner of a Scottish golf course should turn too for

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Speaker 1: good political advice. That would make true because he is

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Speaker 1: truly one of our great writers and thinkers on American religion.

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Speaker 1: He did this out of Portsmouth Abbey and Rhode Island,

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Speaker 1: south of Boston a number of years ago. Mike, why

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Speaker 1: don't you pick it up on Mr Trump and want

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Speaker 1: let's just go there. Donald Trump goes to Scotland to

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Speaker 1: the reopening of his Turnberry golf resort and says Brexit

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Speaker 1: may be a good thing because I'll make more money

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Speaker 1: as the tourists come to Scotland already. That was Friday. Yesterday,

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Speaker 1: Hillary Clinton was on the air with ads saying, how

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Speaker 1: could you possibly do this? Uh? Is Trump finding out

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Speaker 1: that he's now in the big leagues of political campaign

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Speaker 1: He to be with you guys, thank you. And I

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Speaker 1: don't think Donald Trump is gonna call me for advice.

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Speaker 1: And that's okay with me. Um. I found you know,

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Speaker 1: every time you say Trump isn't going to surprise me anymore,

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Speaker 1: he surprises you again because he has been completely unable

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Speaker 1: to separate himself his personal business interests from the fact

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Speaker 1: that he's running for president. I mean, this is an

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Speaker 1: astonishing thing. How many people lost how much money? And

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Speaker 1: I'm not just talking about really rich people, but take

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Speaker 1: a look at all the people in their retirement accounts

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Speaker 1: who were just hit so hard by Britain's decision and

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Speaker 1: the market's response. And here all Trump can talk about,

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Speaker 1: uh is or the mazing Trump talks about is the

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Speaker 1: fact that a low pound will make people come up

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Speaker 1: to his golf course in Scotland. It was really amazing.

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Speaker 1: And so it's not surprising that Hillary Clinton jumped on

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Speaker 1: that because you know, one of the many issues that's

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Speaker 1: going to be used against Donald Trump is this extreme narcissist.

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Speaker 1: I mean, I'm almost getting sick of the term narcissism.

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Speaker 1: We are all using it about Trump, but it's very

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Speaker 1: hard to find a term that better describes his approach

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Speaker 1: to running for president, and a lot of people are

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Speaker 1: afraid to being president if he ever got there. Yeah,

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Speaker 1: e J. You were doing multicultural religious analysis before it

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Speaker 1: was even thought of in America. I think you worked

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Speaker 1: on that for Madison in Washington a few years ago.

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Speaker 1: And as usual, you've got a brilliant sentence suggesting that

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Speaker 1: the candidate in this case, Mr Trump, seems uncomfortable around

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Speaker 1: the subject. I don't recollect it America, Alex uncomfortable people.

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Speaker 1: Bob Dole, who was a great American hero, he struggled

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Speaker 1: with uncomfortable app me with a word uncomfortable of what

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Speaker 1: you observe. Well, when you see Trump talking about religion,

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Speaker 1: it seems to be of a guy for whom uh

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Speaker 1: it is not particularly important. Remember that line during the primary,

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Speaker 1: or it talks about the wine and the cracker, which

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Speaker 1: is not somebody who sort of reveres religion kind of

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Speaker 1: line they use, or the way he refers to Scripture.

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Speaker 1: Yet he knows that conservative, white conservative evangelical Christians are

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Speaker 1: a very important part of the Republican base, and so um,

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Speaker 1: he knows he has to talk about it. And Um,

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Speaker 1: last week I wrote about this sort of attack saying,

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Speaker 1: we haven't heard anything about Hillary Clinton's religion. Um, well,

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Speaker 1: obviously he hasn't been listening. Everybody, including Clinton's critics, know

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Speaker 1: that method or methodism is very important to who she is,

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Speaker 1: just as every critic of George W. Bush Uh took

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Speaker 1: very seriously his religious commitment. And here you have a

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Speaker 1: candidate who not only goes after Clinton's religion. Um, he

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Speaker 1: asked his mitt Romney really a Mormon. Uh. And of

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Speaker 1: course when you look at Romney's life, his faith was

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Speaker 1: deeply important all the way through. He went after Ben

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Speaker 1: Carson for being an Adventist. I just can't I cannot remember,

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Speaker 1: and I'm not sure there ever was a politician who

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Speaker 1: went so directly at the different religions of so many people.

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Speaker 1: And I think with Trump, um, it's not clear what

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Speaker 1: he wants to say on the you know, on the offense,

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Speaker 1: so he doesn't on the on the offense I have

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Speaker 1: of himself, so he does it on the attack. He

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Speaker 1: also says, by the way, everybody will be able to

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Speaker 1: say Merry Christmas and stores if he's president. I don't

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Speaker 1: know how he's going to legislate that. Jake, thank you

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Speaker 1: so much for joining us. We've got to keep it

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Speaker 1: short today because of news in Europe. Mr Dione is

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Speaker 1: the Washington Post in the Brookings Institution, Mike, that's a

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Speaker 1: stunning headline from the Chancellor of Germany. True well is

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Speaker 1: the is the latest on the whole topic. Angela Marco,

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Speaker 1: talking in Berlin, says there will be no informal talks

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Speaker 1: before the UK files it's EU exit papers, triggering an

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Speaker 1: article fifty. However, she is levining that by saying she

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Speaker 1: has some sympathy if the UK needs time. I wonder

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Speaker 1: if those talks go with Scotland as well. I would

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Speaker 1: presume they do well that It isn't clear from the headline,

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Speaker 1: but the Scots are hoping to negotiate with the EU

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Speaker 1: to have a path to remain in If the English

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Speaker 1: and Whales portions of Great Britain want to leave, that's

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Speaker 1: out they do when they know you're the euro soccer

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Speaker 1: match going on right now. What I know is a

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Speaker 1: big came out of the market negative thirteen. We're now

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Speaker 1: negative sixteen on future stuff futures negative one three. Uh sterling,

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Speaker 1: if I can find it, there's you, and there there's

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Speaker 1: one one sixty two from Washington with Alan Greenspan Bloomberg Surveillance,

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