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

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Speaker 1: this is a Bloomberg business flash and I'm kerin Moscow.

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Speaker 1: This update is brought to you by the accountants and

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Speaker 1: advisors at Eisener Amper. Cyber security is on the mind

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Speaker 1: of every business leader. Managing cyber risk should be to

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Speaker 1: get started with a cyber risk assessment. Learn more Ozner

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Speaker 1: Epper dot com slash cyber risk bonds rising with commodities

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Speaker 1: and emerging markets on speculations, Central banks will persist with

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Speaker 1: policies and support financial markets who check the markets every

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Speaker 1: fifteen minutes throughout the trading day. On Boloomberg SNP EVENI

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Speaker 1: futures higher up four points now eveny futures of thirty

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Speaker 1: three and NAS documnity futures up six decks. In Germany's

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Speaker 1: down four tenths per cent ten Your treasury little change

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Speaker 1: now the yield one point seven one percent yield on

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Speaker 1: the two year point seven nine percent NIMEX Scrude oil

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Speaker 1: is up one point three percent. U sixties six cents

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Speaker 1: to fifty one dollar three cents of barrel comes. Gold

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Speaker 1: is up eight tenths per center ten dollars thirty cents

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Speaker 1: to twelve fifty seven thirty an ounce the euro a

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Speaker 1: dollar thirteen eight three the end one oh seven point

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Speaker 1: oh six. Lululemon Athletica down amost four tenths per cent

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Speaker 1: this morning after at forecast the second quarter profit will

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Speaker 1: be below analystis estimates amid signs at the athletic apparel

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Speaker 1: praise of recent years is cooling off, and that's a

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Speaker 1: Bloomberg business flash. Tom and Mike, Karen, thanks so much.

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Speaker 1: Good morning series sex semp Channel one nine. Thrilled you

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Speaker 1: where this particularly North Carolina. Mike. It is below Chapel Hill,

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Speaker 1: it is below High Point. It is the most interesting

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Speaker 1: and divisive second Congressional district of North Carolina. Well, it

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Speaker 1: wasn't very divisive yesterday. I'm going to postulate that after

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Speaker 1: six presidential primaries yesterday that resulted in winds, and most

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Speaker 1: of them for Hillary Clinton and her claiming the domination

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Speaker 1: of the Democratic Party, the most important election was a

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Speaker 1: Republican primary in that second congressional district. Renee Elmer's was

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Speaker 1: elected in two thousand ten. She's a Tea Party affiliated Republican.

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Speaker 1: They merged districts and Accongreshman from a neighboring district. Representative

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Speaker 1: George Holding moved into the second district and ran against

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Speaker 1: Renee Elmer's. Elmer's was endorsed by Donald Trump and lost

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Speaker 1: by thirty points. Greg b is the chief political analysts

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Speaker 1: for Horizon Investments. Greg that's the kind of election result

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Speaker 1: that keeps Paul Ryan up all night. That was a

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Speaker 1: real wake up call. Mike. Absolutely. I mean, Lion's already

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Speaker 1: got problems. He's not sure Trump's going to endorse the

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Speaker 1: Republican agenda. He sees the Republican brand being hurt by

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Speaker 1: Trump's assault on Mexicans and others, and now he sees

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Speaker 1: in the key congressional race, Trump's endorsement caused candidate to

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Speaker 1: lose by thirty points. As you say, so, an awful

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Speaker 1: lot of Republicans in Washington this morning. I having a

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Speaker 1: serious case of buyer's remorse. Yeah, well, you get forty

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Speaker 1: eight hours to take something back to the store. Is

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Speaker 1: there any return policy for presidential candidates that's a good one.

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Speaker 1: I don't think so. I mean, there, you know, Lindsey

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Speaker 1: Graham is saying let's change the rules. In Cleveland. Kirk

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Speaker 1: of Illinois who was in real trouble, was saying that,

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Speaker 1: you know, Joe Scarborough and some mothers are saying, let's

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Speaker 1: change the ground rules. I think it's a launch shot,

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Speaker 1: but I gotta say this. You talk to Republicans in Washington,

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Speaker 1: starting with Ryan and Mitch McConnell, and their heart is

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Speaker 1: not in it. I mean, they're gonna have to endorse

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Speaker 1: at least say they're supporting the nominee, but their hearts

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Speaker 1: are not in it. There is an extraordinary column this

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Speaker 1: morning Tom in the New York Times by Tom Friedman,

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Speaker 1: who writes about the need for the Republicans to reinvent themselves,

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Speaker 1: but then he goes on to really take on Republican candidates. Greg.

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Speaker 1: I don't know if you saw this, but basically says

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Speaker 1: John McKinnell, you didn't break under torture from the North Vietnamese,

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Speaker 1: but you're so hungry for re election you don't dare

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Speaker 1: raise your voice against Trump. I hope you lose. Chris Christie,

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Speaker 1: have you not announced self respect? Uh? This is what

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Speaker 1: they're gonna face all all election season. Yeah. And there

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Speaker 1: was a headline in the New York Daily News yesterday

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Speaker 1: showing Paul Ryan looking at Trump, and it's Ryan is

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Speaker 1: saying I'm with the racist. So here's Ryan, who, like

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Speaker 1: many other Republicans, felt that Trump's remarks about this Indiana

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Speaker 1: judge were racist, but he still supports Trump. So that

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Speaker 1: puts the Republicans in a very awkward position. Greg, have

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Speaker 1: you ever seen a candidate amenda? I mean, I remember

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Speaker 1: the Robert Redford movie The Candidate, which was illuminating for

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Speaker 1: all the back room guidance that they were giving candidate Redford.

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Speaker 1: Mr Trump is not as good looking at Bob Redford,

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Speaker 1: including Bob Redford doesn't ski as well, it doesn't get

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Speaker 1: the it's like Robert Redford. But Greg, seriously, you're do

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Speaker 1: candidates have the ability to amend change, take guidance? Well,

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Speaker 1: that's a really crucial point. Tom. I think that one

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Speaker 1: of the knox this week is that Trump listened to

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Speaker 1: no one. He didn't listen to Paul mana Fort, who

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Speaker 1: I have to think is having second thoughts about joining

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Speaker 1: the Trump campaign. He didn't listen to Ryan, he didn't

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Speaker 1: listen to any of the Republican leaders who said cool

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Speaker 1: it on this judge. Finally, yesterday Trump dialed it back

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Speaker 1: a little bit. But I think this whole episode was

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Speaker 1: very instructive that Trump doesn't listen to anyone except Trump.

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Speaker 1: I mean, I I I'm trying as hard as I can, folks,

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Speaker 1: to say, not put my opinion into it, but the

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Speaker 1: basic idea of listening to the people around you. Who

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Speaker 1: is the template for Mr Trump? If you were to

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Speaker 1: at eyes him and say, you need to be like Greg,

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Speaker 1: give me your name, you're the pro give me a name.

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Speaker 1: Is he supposed to be like Jordan, Bob Dole or yeah.

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Speaker 1: I mean, maybe he'll listen to Christie, maybe he'll listen

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Speaker 1: to a handful of members of the Senate. But I

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Speaker 1: think increasingly people in Washington are distancing themselves from him.

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Speaker 1: And you know the irony, guys, is that four or

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Speaker 1: five weeks ago, after Trump had wrapped this up, he

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Speaker 1: looked like he had some real momentum. And I still

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Speaker 1: think Hillary Clinton is vulnerable in some respects. But all

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Speaker 1: of the momentum that Trump had during mid May is gone.

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Speaker 1: And it's all gone because of self inflicted wounds. All right,

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Speaker 1: let's uh, you talk about the issues with Trump and

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Speaker 1: the party forever, but let's talk about the practicalities now

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Speaker 1: of running for president. Hillary Clinton likely the nominee. I

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Speaker 1: I guess the conventional wisdom is that Bernie Sanders is

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Speaker 1: going to concede and bring his people to her to

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Speaker 1: the extent that they will follow. I guess I thought

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Speaker 1: Sanders was remarkably ungracious last night. I think I'm sorry

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Speaker 1: to be so outspoken this early in the morning, but

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Speaker 1: I think that Sanders is delusional. I think the idea

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Speaker 1: that he thinks he can go to Philadelphia and women

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Speaker 1: the nomination is insane. Maybe he can maybe change the platform,

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Speaker 1: he could maybe push her a little bit further to

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Speaker 1: the left, although I don't think he's going to move

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Speaker 1: much more. But for Bernie Sanders to be this obstinate,

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Speaker 1: I think is going to lead to a tremendous pushback,

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Speaker 1: a pushback from the president, a pushback from Nancy Pelosi,

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Speaker 1: maybe even Elizabeth Warren. I think a lot of Democrats

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Speaker 1: are going to start to say, Bernie, it's time to

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Speaker 1: throw in the time. Here's my question about that, Um,

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Speaker 1: what's he got to lose? In the sense that he

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Speaker 1: wasn't a Democrat until he who decided to run for president.

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Speaker 1: He was a socialist. He caucused with the Democrats, but

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Speaker 1: he was a marginal player on Capitol Hill. He was

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Speaker 1: not in the middle of anything Democratic uh party related,

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Speaker 1: so he can go back to where he was. Excellent point.

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Speaker 1: He never was a Democrat. I don't think he gives

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Speaker 1: a damn about the Democrats. If he perhaps could hurt

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Speaker 1: the Democratic Party, I don't think that would bother him

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Speaker 1: in the least. And I think it's time for a

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Speaker 1: lot of these very idealistic young people to realize the

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Speaker 1: damage that he could do to Hillary. Clifton greg ll

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Speaker 1: When does the Vice President Derby start? I'm afraid to ask,

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Speaker 1: but that's my job. Someone has to ask. Do we

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Speaker 1: even have luxury of mystery at the conventions? Well, I

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Speaker 1: think the leaking and the trial balloons began this week.

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Speaker 1: I think already there's been a big, big trial balloon.

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Speaker 1: Guys for Shared Brown of Ohio Liberal anti a populist

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Speaker 1: who comes from a state that has eighteen votes. I

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Speaker 1: think Shared Brown is on the shortlist. There's a guy

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Speaker 1: named Xavier Bacada, a House member from l A who's tremendous,

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Speaker 1: who's very good on TV, who could be on Hillary

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Speaker 1: shortlist as well. For Trump, I still don't see any

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Speaker 1: namely plausible candidate you know, and as I greg, let

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Speaker 1: me ask you that joke, Well, let me ask you

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Speaker 1: this is really important. Where were you in when President

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Speaker 1: Bush selected Dan Quail is VP. Any breathing American knows

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Speaker 1: where they were that afternoon when the entire office in

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Speaker 1: one breath said, dan Quail, are we going to get

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Speaker 1: that again? We could? I'm not sure who if there's

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Speaker 1: anyone a stature who would accept an offer for from Trump.

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Speaker 1: So what I say, guys is if I got the

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Speaker 1: job offer, I would take it. For this reason, Trump

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Speaker 1: says his favorite foods or French fries, cheeseburger's steak, he

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Speaker 1: he goes to the gym. I would take the offer

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Speaker 1: for actuary or more than anything else. Great. Great of

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Speaker 1: you to be with this, Mr Veli in Switzerland, UH

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Speaker 1: this morning. We greatly appreciate his effort. Mike. I would

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Speaker 1: love to speak to Vice President Quail right now about

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Speaker 1: his thoughts on this. He was an interesting guy. Do

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Speaker 1: you remember where you were, Mike. I was in New Orleans.

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Speaker 1: We're coming at the convention when the president, uh, the

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Speaker 1: Vice president nominated uh dan Quayle. I was and and

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Speaker 1: the reaction was more like um, who and why? It

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Speaker 1: wasn't immediate shock. It wasn't until the UH until he

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Speaker 1: jumped on stage and it was a little over enthusiastic,

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Speaker 1: and then the next day in the press conference had

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Speaker 1: trouble articulating himself. That set him off. I would state

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Speaker 1: that the die hard old part Republicans of screamed at

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Speaker 1: a certain level when they saw that the name he

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Speaker 1: was our forty four Vice President of the United States,

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Speaker 1: Dan Quell A moment there with Greg Valier. That's why

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Speaker 1: we do this, folks. You never know what Greg Valier

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Speaker 1: is gonna say. Most Interesting Features Up for another hour

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Speaker 1: of Bloomberg Surveillance