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

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Speaker 1: dot com, the Radio plus mobile LAP and on your radio.

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Speaker 1: This is a Bloomberg Business Flash. Good morning, I'm John Tucker.

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Speaker 1: This Bloomberg Futures report being brought you by Interactive Brokers

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Speaker 1: and CME Group. If you're looking for global futures contracts

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Speaker 1: industry Leader learned more at Interactive Brokers dot com, Slash

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Speaker 1: CME Group. A rally and overseas shares isn't translating into

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Speaker 1: much of a lift for the U, S, S and

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Speaker 1: B futures ahead of the open on Wall Street right

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Speaker 1: now down four points, the Dow futures down nineteen NASDAKI

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Speaker 1: mini futures are at twelve points lower and among the

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Speaker 1: most actively traded in the pre market. Shares of Apple

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Speaker 1: they're down one point seven percent and according to of

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Speaker 1: the UH regulators in Beijing, Apple violated design patents of

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Speaker 1: a Chinese devise. A device maker may have to hault

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Speaker 1: sales of its latest iPhones in Beijing lumber liquidators that

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Speaker 1: may be active in when the market opens. The Consumer

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Speaker 1: Chronic Safety Commission ended it's probe of lumber liquidators. Also

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Speaker 1: Smith and Wesson shares they are rising. This comes after

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Speaker 1: the gunmaker had a fourth quarter that beat estimates, and

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Speaker 1: we checked the markets for you every fifteen minutes during

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Speaker 1: the trading day right here on Bloomberg Radio. Back to

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Speaker 1: Tom in the studio, John Tucker, thanks so much again

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Speaker 1: in the day to check in to recalibrate into your

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Speaker 1: reading weekend. Uh, the yield was at one sixty. We're

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Speaker 1: now at one fifty eight. Yields will come back in

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Speaker 1: from the enthusiasm of the higher yield earlier this morning.

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Speaker 1: I had one listener yesterday complain of saying why they said,

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Speaker 1: you can't say up or down with foreign exchange. You

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Speaker 1: have to say stronger weaker, which we really try to do.

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Speaker 1: And I apologize if I confused yesterday on that Mexican

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Speaker 1: paso is strong or today by a good amount. Eighteen

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Speaker 1: point eight five certainly a good sign after a horrific

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Speaker 1: week of weaker Mexican pay so yen weaker fractionally one

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Speaker 1: oh four bears to be careful. I want to have

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Speaker 1: a thoughtful final discussion John Herman coming up on the

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Speaker 1: American economy, on England, and on the United Kingdom, Charles

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Speaker 1: Duma writes brilliantly for his Lombard Street research. He's the

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Speaker 1: author of many books and one of them and I

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Speaker 1: thought you had, Charles, when I thought of globalization fractures?

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Speaker 1: Is your United Kingdom fracturing? We just saw the Prime Minister,

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Speaker 1: the head of the Labor Party, Cameron and Corborn in

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Speaker 1: front of the priestly statue in Burstall are they looking

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Speaker 1: upon a United Kingdom that is fracturing? Well, I mean,

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Speaker 1: the fact is that what's happened in Europe over the

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Speaker 1: last ten years really has been a disaster and we're

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Speaker 1: part of it um and it's aroused very strong feelings

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Speaker 1: um and differences which are embodied in this sort of

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Speaker 1: a powerful argument over over this referendum, and including some

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Speaker 1: obvious outline and nutcases, one of whom seems to have

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Speaker 1: got carried away and involved in this tracker with this

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Speaker 1: poor MP who was killed. Guess there was a disaster,

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Speaker 1: of course. The the the timeline here, folks, is a

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Speaker 1: debate and a campaigning that has gone silent. Mr Corbin

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Speaker 1: asked the Prime Minister to bring parliament back, and I

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Speaker 1: believe Charles Duma Parliament will gather on Monday to remember

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Speaker 1: remember Joe Cox, which I understand my question to you,

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Speaker 1: and this is with great respect for the somber moment.

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Speaker 1: What happens on Tuesday and Wednesday is we go to

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Speaker 1: a Thursday vote. What you what will we presume to

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Speaker 1: see on Tuesday and Wednesday? Well, I mean it is.

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Speaker 1: I mean one has to be pretty cold blooded and

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Speaker 1: think through all this stuff, because it is an important

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Speaker 1: decision which goes way beyond one particular nutcase murdering one

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Speaker 1: particular very tragic mp um. And the fact is that

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Speaker 1: the only president I can think of is two thousand

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Speaker 1: and four, when three days on a Thursday, just before

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Speaker 1: a Sunday election in Spain, um and the year after

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Speaker 1: the Iraq War, which had been supported by as another

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Speaker 1: five Minister of Spain and the Spanish UM, the the

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Speaker 1: al Qaeda I think, or whoever it was, blew up

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Speaker 1: a train going into Madrid, killing off I think, a

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Speaker 1: couple of hundred people, who I remember rightly and as

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Speaker 1: an art immediately blames it on Basks. Terrorists have been

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Speaker 1: fighting a separatist type of one with terrorism for the

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Speaker 1: for god knows how long. And of course he was

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Speaker 1: wrong and people would see immediately he was wrong and

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Speaker 1: had no evidence to support his assertion. It was a

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Speaker 1: simple political move from a right of center party to

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Speaker 1: to blame terrorism on on their opponents. And and he

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Speaker 1: got bowled out as a as a result. Um. And

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Speaker 1: in fact the man who won, the socialist and winner

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Speaker 1: also got re elected a few years later. So UM.

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Speaker 1: The interesting thing is that in a three day time scale,

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Speaker 1: the reaction was to to to react to the immediate

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Speaker 1: circumstances in a relatively emotional way. Now Here, I'm being

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Speaker 1: quite cold blooded about it. We have a seven day

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Speaker 1: timetable from Thursday yesterday to Thursday next week. UM. And

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Speaker 1: no doubt at the moment, a lot of people are saying, well,

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Speaker 1: look this, um, this Brexit campaign looks like in that cases. UM.

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Speaker 1: And you know some of the people who involved in

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Speaker 1: it are fairly sort of extreme characters or seemed like that.

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Speaker 1: So so you know, there may be a reaction upole

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Speaker 1: reaction UM towards a reveins I'd stay staying in the

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Speaker 1: you but and bounced at the same time that with

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Speaker 1: a few more days to think about it, people may

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Speaker 1: realize that actually this is who goes beyond Charles. This

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Speaker 1: is very valuable. Thank you and short notice. This morning,

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Speaker 1: after we hear from the Prime Minister and a labor leader,

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Speaker 1: we are thrilled to bring a Charles Duma, Chief Economists

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Speaker 1: Lombard Street Research, where they think some good perspective. I

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Speaker 1: can't say how out front Mr Duma was on tepid

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Speaker 1: economic growth in Europe. It was extraordinary some of the

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Speaker 1: stuff he wrote two and three years ago where people

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Speaker 1: said really, and the answer was, Charles Duma got the

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Speaker 1: slowdown in the tepid growth. Correct futures at negative three,

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Speaker 1: down futures a negative fifteen. The major message of the

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Speaker 1: last two hours is yields come in oil advances by

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Speaker 1: a stick. Somebody said the other day, what's a stick

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Speaker 1: that's one dollar up a dollar five? Is? You know,

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Speaker 1: you forget about the five cents. It's like a stick

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Speaker 1: up one gold twelve ninety two, the ounce down six dollars.

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Speaker 1: So we come back under currencies with a collective shirt.

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Speaker 1: Is how I would put a dollar again one oh

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Speaker 1: four thirty and euro dollar one sixty. This morning from

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Speaker 1: New York Bloomberg Surveillance, we are counting down to the

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