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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 Act and on your radio.

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

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Speaker 1: This updates were aught to you buy sector spider et

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Speaker 1: F so I want to buy a single stock when

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Speaker 1: you can invest in the entire sector. Visits sector sp

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Speaker 1: d r s dot com are called one six six

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Speaker 1: sector et f u S. Worker productivity decreasing for a

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Speaker 1: second straight quarter. An employer costs for a labor climbed

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Speaker 1: by the most and more than a year. The measure

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Speaker 1: of employee output per hour fell at a one percent

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Speaker 1: annualized rate from January through March, after one point seven

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Speaker 1: a client in the fourth quarter, America's trade deficits shrank

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Speaker 1: more than forecast. In Marches, imports fell in percentage terms

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Speaker 1: by the most and seven years and outpaced the decline

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Speaker 1: and shipments overseas. Companies in April added fewer workers to

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Speaker 1: US payrolls than economists projected. Singling employment gains may have

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Speaker 1: peaked that are according to a report from the ADP

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Speaker 1: Research Institute, US stock index futures v while are lower

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Speaker 1: amid lingering concerns at type global growth will wait on

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Speaker 1: the US economy, who check the markets every fifteen minutes

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Speaker 1: throughout the trading day. On Bloomberg SNP EVENY futures down

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Speaker 1: thirteen points, DOWI Mini futures down ninety four, NASA DOCUMNTI

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Speaker 1: futures down thirty one. The decks in Germany's down six

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Speaker 1: tenths per cent. Ten year treasury of three thirty seconds,

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

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Speaker 1: two year point seven four percent NIMEX Scrude oil now

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Speaker 1: up one and a half percent of sixty six cents

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Speaker 1: to forty four thirty one. A barrel comes gold down

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Speaker 1: a quarter percent or three dollars thirty cents. The twelve

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Speaker 1: eighty eight forty an ounce, the euro a dollar fourteen

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Speaker 1: ninety four, the yen one oh six point five five.

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Speaker 1: That's a Bloomberg Business flash, Tom and Mike Karen, thanks

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Speaker 1: so much. It is eight on Wall Street. The following

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Speaker 1: is from Bloomberg View, opinions and commentary from Bloomberg columnists.

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Speaker 1: I'm Clive Crook, a columnist for Bloomberg View. The biggest

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Speaker 1: misconception about next month referendum on Britain's membership of the

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Speaker 1: European Union is that it will put the issue to rest.

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Speaker 1: That's unlikely. The referendum on Scottish independence is a guide

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Speaker 1: to what's coming. Scott's in two thousand and fourteen voted

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Speaker 1: to stay in the UK, then at the next election

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Speaker 1: gave the Scottish National Party, dedicated to Scottish independence a

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Speaker 1: crushing victory. The UK's calculation on Europe is similar. Quitting

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Speaker 1: the EU is a big risk, so prudence says stay,

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Speaker 1: But British, that is, English resentment at rule from Brussels

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Speaker 1: won't be assuaged by being offered the chance to go.

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Speaker 1: Doing the prudent thing will only make Britain more resentful.

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Speaker 1: If it votes to stay, the UK will be more Euroskeptic,

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Speaker 1: not less. So much so the EU might eventually want

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Speaker 1: Brexit more than the Brits do. There's a kind of

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Speaker 1: twisted logic here for the UK. The biggest risk in

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Speaker 1: Brexit is that the EU will punish it for leaving.

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Speaker 1: The answer is obvious. Vote to stay, then be so

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Speaker 1: exasperating that the EU will actually pay you to go.

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Speaker 1: I'm Clive Croker, colinist for Bloomberg View. For more Bloomberg

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Speaker 1: Opinion and commentary. Please go to Bloomberg View dot com

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Speaker 1: or if you go on the Bloomberg terminal. This has

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Speaker 1: been Bloomberg View and Bloomberg View commentary came here in

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Speaker 1: hourly weekdays. I'm Bloomberg Radio Michael Tom. We have a

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Speaker 1: this just in Bill Gross out with his latest commentary.

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Speaker 1: He is he foresees trouble ahead for the U s

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Speaker 1: economy and helicopter cash. He thinks central banks will go

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Speaker 1: to helicopters. That's the new Janice commentary from Bill gross

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Speaker 1: who will be with us on Friday when we report

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Speaker 1: the jobs figures, so we'll certainly be talking with him

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Speaker 1: about that. You'll want to tune in on the news

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Speaker 1: of the day. On the political side, of course, Donald

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Speaker 1: Trump wins essentially the Republican nomination by sweeping Indiana yesterday.

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Speaker 1: Hillary Clinton loses to Bernie Sanders but still has more

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Speaker 1: has about twice the number of delegates he has, so

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Speaker 1: still on track for the nomination, although that will continue

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Speaker 1: to be a race going forward. Uh what are we

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Speaker 1: to make of these results? Well, the Almanac of American

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Speaker 1: Politics says that Indianapolis is precisely at the center of Indiana,

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Speaker 1: the largest, most dominant city in the state. What residents

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Speaker 1: once disparaged as Naptown has become a thriving metropolis, including

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Speaker 1: the downtown district. Does that mean Andrew Carson's a vice

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Speaker 1: presidential candidate for Mr Trump? No wrong party? Uh. Andrew

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Speaker 1: Carson is the congressman from the seventh district, which in

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Speaker 1: UH compasses much of Indianapolis, including the downtown all pretty

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Speaker 1: much most of the of the city. And uh, and uh.

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Speaker 1: He has a very diverse district. He is a Democrat,

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Speaker 1: which leads us to a very interesting question. Indian Indiana

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Speaker 1: voted for Donald Trump. He got more votes almost by

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Speaker 1: himself in the primary than Hillary Clinton and Bernie Sanders

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Speaker 1: did together. You have a state that is industrial rust

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Speaker 1: belt but also trying to, you know, move towards a

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Speaker 1: more technology driven state. So ken Donald Trump win Indiana

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Speaker 1: in UH in the fall? Can he convince the people

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Speaker 1: in your district that things are terrible and he is

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Speaker 1: the answer? Well, I think we have to look back

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Speaker 1: at the election results in two thousand and eight, where

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Speaker 1: you had a Republican governor of the former Omb director

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Speaker 1: under George Bush MS Daniels, when Marion County and you

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Speaker 1: had President Obama when Marian Colly. So, even though Indiana

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Speaker 1: is a red state, um Indianapolis in particular, there's there's

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Speaker 1: a strong libertarian streak in an independent streak, and it's

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Speaker 1: reflected and what you've seen in in in the recent

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Speaker 1: election revolts well characterized for us the feeling of people

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Speaker 1: in your district, not about each of these individual candidates,

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Speaker 1: but about the economy in general. Well. Our unemployment hubbs

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Speaker 1: around the national average, which is around five percent. Our

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Speaker 1: state was impacted tremendously, uh because of NAFTA. You know,

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Speaker 1: one out of every five jobs in Indiana's a manufacturing job.

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Speaker 1: There are changes that are taking place in our state

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Speaker 1: and in several counties as far as the I can see,

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Speaker 1: there wind turbans being built and so our our technological

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Speaker 1: sector has been growing and is growing. But what we're

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Speaker 1: seeing is that we're trying to transition those folks who

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Speaker 1: come from the manufacturing sector h into a different space.

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Speaker 1: Our largest employer employers happened to represent the healthcare industry,

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Speaker 1: be at Ali really or Anthem, Blue Cross and scores

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Speaker 1: of hospitals that we have in the Sydney in particular,

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Speaker 1: but more and more Hoosiers are becoming self employed. They're

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Speaker 1: starting their own own businesses. And we have to remember

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Speaker 1: that Indianapolis is the amateur sports capital of the world.

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Speaker 1: But this shift is that because they traded Peyton Manning.

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Speaker 1: I just wanted to get you going, Congressman, early in

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Speaker 1: the morning. Let me let me shift, let me shift

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Speaker 1: the dialogue. Congressman, if I could do, what's so important?

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Speaker 1: You have a heritage within Indianapis, with your grandmother Julia

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Speaker 1: Carson serving as well within the new seventh district. What

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Speaker 1: would be your prescription for Secretary Clinton? Does she need

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Speaker 1: to provide a Sanders Warren like more left economic plan

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Speaker 1: or does Secretary Clinton need to move to the Indianapolis

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Speaker 1: middle Well, you know, I am uh. We live in

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Speaker 1: a centrist country. Essentially. I think that Secretary Clinton has

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Speaker 1: a fantastic message that resonates with Hoosiers. She being from

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Speaker 1: the Midwest, Um, I think she has Midwestern sensibilities. UM.

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Speaker 1: I think what would be most important is for her

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Speaker 1: to unleash her very capable surrogates in the state. Who

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Speaker 1: can who can, who can who can persuade those voters

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Speaker 1: who are on the fence. I agree with a lot

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Speaker 1: of what's Senator Standards has to say, I think he

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Speaker 1: represents progressive possibilities. At the same time, I mean, Hoosiers

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Speaker 1: tend to be conservative as it relates to economic issues.

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Speaker 1: We've seen a huge shift in our state under the

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Speaker 1: rifra UH legislation and and Governor of Pensis fiasco, and

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Speaker 1: so socially, Hoosiers and Democrats tend to be more towards

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Speaker 1: the left on social issues, but the economic questions are

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Speaker 1: still wounding in our state. You know, I came out

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Speaker 1: against the Trans Spacific Partnership leasing them. I of etonomenly,

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Speaker 1: I'm a member of the New Democratic Coalition UM. But

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Speaker 1: I was a no on the Columbia Free Trade Agreement,

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Speaker 1: I was a no on the Career Free Trader Agreement,

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Speaker 1: and I wasn't knowing the Panamania Free Trader the simply

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Speaker 1: because I've watched hundreds of thousands of jobs leave our

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Speaker 1: state and most recently Carrier, which is located in the

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Speaker 1: heart of my district and can't do their jobs. Now

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Speaker 1: Donald Trump can't keep Carrier in the state, despite what

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Speaker 1: he says. Uh. But then what is the message when

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Speaker 1: you from either candidate the Kennedy who's going to win

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Speaker 1: Indiana this fall. What is that the message they're going

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Speaker 1: to bring to your constituents. I think that messages they

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Speaker 1: are going to support policies that make it much more

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Speaker 1: difficult for companies to ship jobs outside of the United States,

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Speaker 1: and those companies who attempt to do so will be penalized.

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Speaker 1: We have to look more seriously about bold many of

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Speaker 1: our attack blotpholes that allows companies to do these kinds

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Speaker 1: of things. Say that kind of message resonates with users

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Speaker 1: as it does with other folks. And must belt state.

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Speaker 1: We don't have time, Congressman Carson, but I must have

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Speaker 1: you back on infrastructure and investment. I remember one day

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Speaker 1: Congressman Carson driving on a four lane highway in Indiana

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Speaker 1: that all of a sudden became a two lane highway.

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Speaker 1: Most people have forgotten about the building of the Internet system.

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Speaker 1: I think Congresson Carson, thank you so much. He is

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Speaker 1: the Democrat from Indianapolis. That was fascinating. I mean, and Mike,

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Speaker 1: we don't talk enough to people in the trenches. Actually,

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Speaker 1: I love what he said there. It's about lieutenants to

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Speaker 1: focus all the media focused Clinton Trump, Clinton Trump, Clinton Trump.

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Speaker 1: You've got to get out the troops district, relatively safe

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Speaker 1: for him, but interesting to see what happens to it.

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Speaker 1: What's fascinating is it's a rectangular district. It's one of

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Speaker 1: the few districts I've ever seen on the Michael Barone map.

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Speaker 1: It doesn't seem to be Jerry sandered into oblivion. It's

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Speaker 1: almost like normal geometry. What you'd expect from another so

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Speaker 1: I knew you'd get back to math. What you would

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Speaker 1: expect is another hour of Bloomberg's surveillance. We will do

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Speaker 1: that for you, will do that next