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Speaker 1: This is Bloomberg surveillance. I think the consensus is right

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Speaker 1: that you do need more sovereignty pooling to make the

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Speaker 1: Eurozone actually a going concern. Growth is okay, but it's

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Speaker 1: below trimed. I can't see a world were on the

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Speaker 1: second half of the year it goes back above trimmed.

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Speaker 1: My biggest concern is the inter relationship between central bank policy,

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Speaker 1: exchange rates, and economic wealth. Bloomberg surveillance your link to

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Speaker 1: the world of economics, finance, and investment on Bloomberg Radio.

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Speaker 1: Good morning everyone, Michael mckeem, Tom Keane, Good Rexit, Good

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Speaker 1: remain morning. Maybe something more going on than that to

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Speaker 1: get your attention. Dollar Mexico eighteen point nine five. I

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Speaker 1: haven't had a chance to look yet, but earlier this

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Speaker 1: morning Mexico out to near record weakness. I'll have to

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Speaker 1: clarify that, Mike, as we can do off the Bloomberg

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Speaker 1: is well, lots going on a better tape than what

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Speaker 1: we saw at five am. UH this morning, no question

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Speaker 1: about uh that. Let's do a forex brief and get

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Speaker 1: right to it by Interactive Brokers. Thank you Interactive brokers.

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Speaker 1: Forex traders focus on tightness of spreads if cross matters.

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Speaker 1: Visit I b k R dot com slash for x

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Speaker 1: to learn about their fore x ECN. It includes fourteen

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Speaker 1: of the largest inter bank dealers Dollar pays eighteen point

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Speaker 1: nine five. Again, Mike, I'm gonna do this because we

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Speaker 1: can do this on the Bloomberg. I don't think David

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Speaker 1: Wilson is aware that we can get an inter day

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Speaker 1: on Mexican Day. So like that nineteen point zero three

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Speaker 1: rounded up is where we were on Mexican pays. So

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Speaker 1: in the early morning hours again under one oh six,

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Speaker 1: one oh five ninety two again week weaker than four

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Speaker 1: or five am this morning, Euro one thirty six euro

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Speaker 1: yen was a one eighteen now one nineteen point zero

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Speaker 1: one again over the last number of days, stronger yet

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Speaker 1: and weaker euro. And I'm not going to go into

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Speaker 1: details here, but Swiss Frank is of interest. Is the

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Speaker 1: Swiss National Bank fights the adjacent ceas of Europe Brexit

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Speaker 1: in Bermain. Maybe we can get through our equity view

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Speaker 1: without bringing up Brexit and b Remaine. Do you have

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Speaker 1: any like LinkedIn Microsoft debris? David Wilson from yesterday can't

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Speaker 1: say I do, But you know one company that's been

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Speaker 1: talking about Brexit. Is JP Morgan check well, Mr Diamond

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Speaker 1: with a chance of the exchequer a number of days ago. Absolutely,

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Speaker 1: and chief financial officer Marion Lake is at an investment

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Speaker 1: conference today and one thing that jumped out from her

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Speaker 1: presentation is that she's expecting this year's expenses to be

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Speaker 1: about fifty six billion dollars, which would be little changed

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Speaker 1: from last year. JP Morgan cut costs in and so

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Speaker 1: we're seeing the stock lower in the response to this

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Speaker 1: present tion. Jping Morgan down about three quarters of percent

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Speaker 1: at the moment. Then you have Ali Baba Group holding

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Speaker 1: up two percent, China's largest e commerce company, out with

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Speaker 1: its first forecast since going public. They said sales were

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Speaker 1: rise at least forty eight percent in the fiscal year

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Speaker 1: that ends next March. The projected growth beating analysts average

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Speaker 1: estimate of as well as last year's the increase of

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Speaker 1: thirty three percent. So Ali Baba seeing growth accelerating. In

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Speaker 1: its revenue by Do, on the other hand, down four percent,

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Speaker 1: the Chinese internet search company lowered its second quarter of

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Speaker 1: revenue forecast by about eleven percent. By To attributed the

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Speaker 1: cut to new government restrictions on online advertising by healthcare companies.

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Speaker 1: You've got another China related story. N XP Semiconductor up

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Speaker 1: about three courters of percent at the moment. The chipmaker

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Speaker 1: agreed to sell as standard products business to a Chinese

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Speaker 1: investor group for two point seven five billion dollars of

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Speaker 1: This unit provides semiconductors for cars, industrial equipment, and consumer electronics.

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Speaker 1: Zimmer Bio met down two percent. The medical device makers

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Speaker 1: sold about one point three billion dollars of stock, and

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Speaker 1: they have a Goldman Sachs and the private euctuty firms

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Speaker 1: kk R and TPG. The sale amountage to a five

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Speaker 1: point six percent stake. Western Gas Equity Partners down ten percent.

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Speaker 1: The pipeline companies selling one million dollars of partnership units.

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Speaker 1: They're kind of like shares on behalf of its majority

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Speaker 1: owner Anadarko Petroleum. That sale equivalent to a five point

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Speaker 1: seven percent stay and Sparked Therapeutics down three percent. The

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Speaker 1: drug developer and the Children's Hospital of Philadelphia are selling

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Speaker 1: a total of three and a half that's about a

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Speaker 1: twelve percent stake. Okay, how about tailor brands up seven

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Speaker 1: and a half percent? Does a company owns Men's warehouse

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Speaker 1: and Joseph a Bank men's clothing stores. Three insiders at

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Speaker 1: tailor brands bought shares yesterday, according to regulatory filings. And

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Speaker 1: we are seeing makers of guns and ammunition up for

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Speaker 1: a second day in the wake of last weekend's massacre

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Speaker 1: in Orlando, speculation that demand will rise in the anticipation

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Speaker 1: with tougher gun laws. You've got Smith and Wesson and

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Speaker 1: stir Ruger both up about one and a half percent.

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Speaker 1: And this the Outdoor, a maker of guns, up six percent.

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Speaker 1: David Wilson, thank you as so much. Shout out to

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Speaker 1: the New York Police who have put on extra coverage

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Speaker 1: of security since the tragedy of Orlando. They were Mike

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Speaker 1: and Midtown Front and Center yesterday and quiet presence. Cheryl

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Speaker 1: Bolan is with Bloomberg b NA. I think she was

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Speaker 1: there when Wilson was president. She's been there like forever.

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Speaker 1: And what's so great about her is she has a

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Speaker 1: cottage industry, which we never talked about we do now

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Speaker 1: on this. I was stunned Cheryl on the fiftie five

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Speaker 1: oh anniversary of FOYA, and most people know FOYA is

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Speaker 1: a freedom of information at Cheryl, give us a history

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Speaker 1: lesson what was it like when LB j signed this

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Speaker 1: legislation in nine sixties six, nineteen sixty six, and I

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Speaker 1: have to admit I was not actually there at the

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Speaker 1: original site. But you're studying the history, was it. Did

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Speaker 1: we know then where this would go? Now? No? Probably

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Speaker 1: not um, But this is this is an old law

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Speaker 1: and unfortunately it's got a lot of old problems too

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Speaker 1: with it. UM lots of complaints UM from businesses and

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Speaker 1: the public about how difficult it is to get information

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Speaker 1: out of the federal government. You know how long it takes,

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Speaker 1: you know how expensive, how burdensome, how unresponsive some of

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Speaker 1: these agencies could be. This has been going on forever.

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Speaker 1: My twelve years. John Moss of California was a Congressman

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Speaker 1: that drove the car in this twelve years to get

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Speaker 1: it through. Well, this is interesting because when you read

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Speaker 1: that Congress is considering changes to the Freedom of Information actor,

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Speaker 1: initial reaction is they're gonna make it tougher. But this

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Speaker 1: bill would make it a bit easier for were people

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Speaker 1: to get federal records and information. That's right, and uh,

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Speaker 1: it's it's an unlikely pairing to Uh. The senators who

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Speaker 1: came up with this spill both a leading Democrat and

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Speaker 1: a leading Republican who actually been teamed up for years

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Speaker 1: on this. They were really starting back in to try

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Speaker 1: to to get these changes, both of whom trying to

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Speaker 1: get more information out of the federal government make it

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Speaker 1: easier for the public, especially now in the Internet age.

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Speaker 1: There's just no reason there shouldn't be a simple place

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Speaker 1: to go online and get put your request in and

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Speaker 1: get a lot of this information. What does the White

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Speaker 1: House suggest they may do about this? Administration's never like

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Speaker 1: to give up information. No, they don't. And and the

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Speaker 1: Obama administration did did get kind of dragged into this bill. Um.

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Speaker 1: They admitted a few weeks ago that yes, they would

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Speaker 1: go ahead and sign the Senate version of the bill. UM.

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Speaker 1: And the White House issued a statement last night the

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Speaker 1: President will sign this bill into law. UM, a bit reluctantly,

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Speaker 1: I think, UM. Although they did point out in their

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Speaker 1: statement that um, uh, FOIA does not actually apply to Congress.

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Speaker 1: It never has. This was a change that the White

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Speaker 1: House had suggested that if Congress wanted to change the

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Speaker 1: Foia bill so much, they probably should make it apply

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Speaker 1: to themselves as well. Uh. That change was not made. Um.

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Speaker 1: But the President will go ahead and sign this when

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Speaker 1: you when you, when you look at this, speak to

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Speaker 1: conservatives and liberals about what this act means. For example,

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Speaker 1: I think it's called redact. Who decides to put the

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Speaker 1: black mark over Michael McKee's name, wells just do that

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Speaker 1: the agencies, UH, The agencies make that decision, agency attorneys

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Speaker 1: and UH top officials in in each agency, depending on

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Speaker 1: the on the request. Now which they'll have to remember

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Speaker 1: about Fuya and and this does not change UM. Foyer

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Speaker 1: requires the disclosure of all information unless it falls under

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Speaker 1: one of nine exemptions. And there are an awful lot

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Speaker 1: of exemptions that really do cover an awful lot of

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Speaker 1: internal and deliberative documents, very sensitive names, privacy concerns. There's

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Speaker 1: also for businesses UM, marketing concerns and and proprietary information

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Speaker 1: UM that is protected by some of these exemptions. What

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Speaker 1: this new bill is going to do is restrict some

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Speaker 1: of those exemptions and UM making a little bit easier

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Speaker 1: to get information. But it doesn't eliminate those exemptions. UM,

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Speaker 1: so agencies still can can redact. Well, when I write,

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Speaker 1: the House passes by a voice vote, it did. And

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Speaker 1: why is there aren't they the people that would be

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Speaker 1: most against this UM no, no, that the House and

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Speaker 1: Senate and Congress, they're all for opening up information from

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Speaker 1: the administration, federal agencies, getting getting all that information out

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Speaker 1: of them. Congresses usually had the line complaining that they're

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Speaker 1: not getting enough information. Cheryl, this is great with Bloomberg

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Speaker 1: d NA Washington, Cheryl, Michael McKee went to Freedom of

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Speaker 1: Information Act against the Washington capitals. He wants to know

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Speaker 1: what their draft plans in the NHR. Ella, Cheryl, thank

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Speaker 1: you so much. Time now to check in with Michael

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Speaker 1: br and get the latest world and nationally Mike time.

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Speaker 1: Thank you very much. President Obama will ahead to Orlando,

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Speaker 1: Lauriada on Thursday. According to the White House, the President

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Speaker 1: will pay his respects to the victims families from Sunday's

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Speaker 1: mass shooting at a gay nightclub. The attack left fort

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Speaker 1: victims dead and fifty three others wounded. French officials say

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Speaker 1: two people have been detained in the investigation of a

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Speaker 1: stabbing attack outside of Paris last night that left two

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Speaker 1: police officials dead. Police say those detain we're close to

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Speaker 1: the suspected attack or twenty five year old Larassi Abala.

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Speaker 1: French officials are calling it a terrorist attack. The Senate

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Speaker 1: will likely vote today on a six D two billion

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Speaker 1: dollar defense policy bill. The White House already has said

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Speaker 1: President Obama will veto over numerous objections in pluting a

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Speaker 1: ban on closing the prison at Guantanamo Bay. Global News

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Speaker 1: twenty four hours a day. I'm Michael bar. Mike to

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Speaker 1: Michael Bar, thanks so much. Features negative six down fatures,

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Speaker 1: negative fourteen. The vixed trading twenty two point one two

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Speaker 1: up one point one five vix points. That's a big

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Speaker 1: move of angst and the cbo E volatility Index. Michael

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Speaker 1: McKee and Tom Keane are fed coverage tomorrow one PM.

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Speaker 1: Market Driver is brought to you by a sector Spider

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Speaker 1: et s y by a single stock. When you can

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Speaker 1: invest in the entire sector, visit sector spdrs dot com

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Speaker 1: or call six six Sector e t F