1
00:00:02,440 --> 00:00:05,840
Speaker 1: Global business news twenty four hours a day at Bloomberg

2
00:00:05,880 --> 00:00:08,920
Speaker 1: dot com, the radio plus mobile lap and on your radio.

3
00:00:09,240 --> 00:00:13,200
Speaker 1: This is a Bloomberg Business Flash and I'm Karen moscown Is.

4
00:00:13,280 --> 00:00:16,600
Speaker 1: Updates brought to you by National Realty Returns on cash

5
00:00:16,600 --> 00:00:18,560
Speaker 1: and rented real Estate. Find them at n r i

6
00:00:18,720 --> 00:00:22,760
Speaker 1: a dot net. We have some headlines crossing the Bloomberg here.

7
00:00:22,800 --> 00:00:26,680
Speaker 1: Starward Hotels are saying and bank groups bid for seventy

8
00:00:26,680 --> 00:00:30,960
Speaker 1: eight dollars a share is superior to that of Marriott International,

9
00:00:31,000 --> 00:00:34,360
Speaker 1: and Starwood is notifying Marriott that is going to end

10
00:00:34,520 --> 00:00:37,160
Speaker 1: their merger pack again. It says that a bank group

11
00:00:37,200 --> 00:00:41,519
Speaker 1: spid was superior to Marriott's USACK index. Futurist rising equities

12
00:00:41,520 --> 00:00:43,800
Speaker 1: are poised to advance for a third day to extend

13
00:00:43,800 --> 00:00:47,040
Speaker 1: their longest streak of weekly games since November. SNP e

14
00:00:47,080 --> 00:00:49,280
Speaker 1: Mani futures have six and a half points, DOWI Mini

15
00:00:49,320 --> 00:00:52,760
Speaker 1: futures of fifty two nas, Documny futures up twelve, DAX

16
00:00:52,800 --> 00:00:55,200
Speaker 1: in Germany up three tenths per cent. Tend your treasury

17
00:00:55,240 --> 00:00:57,760
Speaker 1: of three thirty seconds, the yield one pot eight eight percent.

18
00:00:58,240 --> 00:01:00,640
Speaker 1: Nim X screwed oil up two point one per cent

19
00:01:00,760 --> 00:01:02,880
Speaker 1: or eighties three cents to forty one oh three of

20
00:01:03,000 --> 00:01:05,759
Speaker 1: Barrel Comax School down one per cent or twelve dollars

21
00:01:05,760 --> 00:01:08,720
Speaker 1: twenty cents to twelve fifty to seventy announced the euro

22
00:01:08,840 --> 00:01:11,360
Speaker 1: another twelve eighty eight and the EN one eleven point

23
00:01:11,400 --> 00:01:15,399
Speaker 1: five zero, and Tiffany gave a forecast for earnings this

24
00:01:15,520 --> 00:01:19,000
Speaker 1: year that trailed analysts estimates as a sluggish global economy

25
00:01:19,080 --> 00:01:22,479
Speaker 1: damp sales. It shares down two tents per cent this morning.

26
00:01:22,720 --> 00:01:25,959
Speaker 1: That's a Bloomberg business flash. Tom and Mike Karon Moscow,

27
00:01:26,080 --> 00:01:29,000
Speaker 1: thank you very much. Well, Tom, if you take a

28
00:01:29,120 --> 00:01:35,040
Speaker 1: right out of DePaul University onto noh, well, hold on

29
00:01:35,080 --> 00:01:39,040
Speaker 1: to that thought. Your just dazzled because you're so far

30
00:01:39,040 --> 00:01:40,920
Speaker 1: ahead of me with your bracket. You don't know how

31
00:01:40,959 --> 00:01:43,480
Speaker 1: to speak. We'll talk brackets. Have you ever been this

32
00:01:43,640 --> 00:01:46,200
Speaker 1: much in last place like me with my bracket? I

33
00:01:46,240 --> 00:01:49,520
Speaker 1: think we're we're both in competition for that. Yeah, well,

34
00:01:49,600 --> 00:01:51,320
Speaker 1: let's get to that in a minute right now. Though,

35
00:01:51,560 --> 00:01:56,360
Speaker 1: that's something important. It is on Wall Street. The following

36
00:01:56,480 --> 00:02:00,480
Speaker 1: is from Bloomberg View Opinions. In comment, Arry from Bloomberg lists,

37
00:02:00,680 --> 00:02:04,400
Speaker 1: I'm justin Fox, a columnist for Bloomberg View. After years

38
00:02:04,440 --> 00:02:08,880
Speaker 1: of downsizing and reorganizing, the US manufacturing sector has become

39
00:02:08,880 --> 00:02:12,440
Speaker 1: the world's most competitive. Output per worker is higher in

40
00:02:12,480 --> 00:02:16,079
Speaker 1: the US than anywhere else. Unit labor costs are lower

41
00:02:16,120 --> 00:02:19,240
Speaker 1: here than in Brazil, Canada, and Germany, and they're about

42
00:02:19,240 --> 00:02:21,639
Speaker 1: the same as in China. That's all from a new

43
00:02:21,720 --> 00:02:25,760
Speaker 1: report by Oxford Economics, and it's great news. Right time

44
00:02:25,800 --> 00:02:31,240
Speaker 1: for a manufacturing renaissance. Well maybe eventually, but there are

45
00:02:31,320 --> 00:02:34,919
Speaker 1: few signs that it's actually happening yet. The trade deficit

46
00:02:34,960 --> 00:02:38,840
Speaker 1: and manufactured goods, for example, has been growing instead of shrinking.

47
00:02:39,440 --> 00:02:42,520
Speaker 1: That's partly because the US economy and dollar are relatively

48
00:02:42,560 --> 00:02:46,960
Speaker 1: strong right now, which depresses exports and encourages imports. It's

49
00:02:47,000 --> 00:02:51,040
Speaker 1: also because manufacturers don't redo their supply chains overnight. They

50
00:02:51,080 --> 00:02:55,120
Speaker 1: may still bring production back eventually, but it's also possible

51
00:02:55,120 --> 00:02:59,080
Speaker 1: they won't. For labor intensive products like clothes and furniture,

52
00:02:59,320 --> 00:03:01,160
Speaker 1: there's still a lot some countries where they can be

53
00:03:01,200 --> 00:03:03,800
Speaker 1: made much more cheaply than in the US. And for

54
00:03:03,880 --> 00:03:06,919
Speaker 1: some high end products such as electronics, it may be

55
00:03:07,120 --> 00:03:10,760
Speaker 1: that in their rush to outsource and offshore, US companies

56
00:03:10,800 --> 00:03:14,600
Speaker 1: destroyed the knowledge needed to make them here. I'm Justin Fox,

57
00:03:14,639 --> 00:03:18,519
Speaker 1: a columnist for Bloomberg View. For more Bloomberg opinion commentary,

58
00:03:18,760 --> 00:03:21,440
Speaker 1: please go to Bloomberg View dot com or view go

59
00:03:21,840 --> 00:03:26,440
Speaker 1: on the Bloomberg terminal. This has been Bloomberg View. Bloomberg

60
00:03:26,600 --> 00:03:29,840
Speaker 1: commentaries can be heard hourly weekdays on Bloomberg Radio. What

61
00:03:29,960 --> 00:03:32,639
Speaker 1: we were starting to talk about our brackets before I

62
00:03:33,320 --> 00:03:37,040
Speaker 1: messed up there. What really messes you up in the

63
00:03:37,080 --> 00:03:40,440
Speaker 1: brackets is when a team loses that you have going

64
00:03:40,480 --> 00:03:44,240
Speaker 1: on into further rounds. What really messed me up is

65
00:03:44,320 --> 00:03:48,320
Speaker 1: MS Rachel's team from West Lafayette, Indiana, the boiler Makers

66
00:03:48,600 --> 00:03:54,040
Speaker 1: executive producer down flames. Um. But the good news is

67
00:03:54,120 --> 00:03:58,760
Speaker 1: if you go south from West Lafayette on route to

68
00:03:59,000 --> 00:04:03,360
Speaker 1: thirty one UH eventually turns into North Jackson Street runs

69
00:04:03,360 --> 00:04:09,040
Speaker 1: into DePaul University UH in Greencastle, Indiana, which it turns

70
00:04:09,080 --> 00:04:13,800
Speaker 1: out is a basketball power right in the n C

71
00:04:13,880 --> 00:04:17,880
Speaker 1: Double A Division three, which is what brought Brett Bear

72
00:04:17,960 --> 00:04:20,400
Speaker 1: there no doubt, Um, he wanted to be part of

73
00:04:20,400 --> 00:04:25,800
Speaker 1: a winning tradition, the DePauw University Tigers. Um, you know,

74
00:04:26,440 --> 00:04:30,400
Speaker 1: not only a basketball power, but Brad Stevens, who coaches

75
00:04:30,720 --> 00:04:35,160
Speaker 1: the Boston Celtics. It was a star for DePaul University,

76
00:04:35,440 --> 00:04:38,480
Speaker 1: and Brett Beer went onto some indistinguished career where nobody's

77
00:04:38,480 --> 00:04:44,000
Speaker 1: ever heard of him. Again. He the most special report

78
00:04:44,200 --> 00:04:47,000
Speaker 1: on Fox and of course you could hear uh Fox

79
00:04:47,080 --> 00:04:52,120
Speaker 1: News Sunday here on Bloomberg Radio every weekend. Who obviously

80
00:04:52,200 --> 00:04:55,080
Speaker 1: Depat is not in the big dance. He goes to

81
00:04:55,160 --> 00:04:58,200
Speaker 1: the small dance regularly. But who's your team? Uh? This

82
00:04:58,279 --> 00:05:03,240
Speaker 1: year was a good preamble there. Um, my team. And

83
00:05:03,240 --> 00:05:05,480
Speaker 1: by the way, Brad Brown now also at the Paul

84
00:05:05,520 --> 00:05:08,480
Speaker 1: guy is the head coach at Clemson. Uh so there's

85
00:05:08,520 --> 00:05:11,320
Speaker 1: a basketball tradition. I played golf all four years at

86
00:05:11,320 --> 00:05:15,240
Speaker 1: the pause, so much different deal. My team is Virginia.

87
00:05:15,320 --> 00:05:19,480
Speaker 1: I think Virginia looks good number one seed. Um, but boys,

88
00:05:19,640 --> 00:05:22,680
Speaker 1: I love watching those early games. Okay, So the president

89
00:05:22,760 --> 00:05:27,680
Speaker 1: has Kansas Secretary Clinton has an IVY League seven Sisters brackets.

90
00:05:27,760 --> 00:05:30,840
Speaker 1: She's got Wellesley going all the way. Does Mr Trump

91
00:05:30,920 --> 00:05:34,600
Speaker 1: have a bracket runt? I don't think he does. I

92
00:05:34,640 --> 00:05:37,440
Speaker 1: don't think he does. But it's because he's speaking for himself.

93
00:05:37,480 --> 00:05:40,359
Speaker 1: He's number one. Because I have a very good brain

94
00:05:40,720 --> 00:05:42,960
Speaker 1: and I'm going to do this whole thing by myself.

95
00:05:43,279 --> 00:05:46,640
Speaker 1: Have you ever seen this, whether it's foreign policy or

96
00:05:46,720 --> 00:05:51,800
Speaker 1: Mr Trump's bracket. It's original, isn't it. It's really amazing. Uh,

97
00:05:51,839 --> 00:05:55,159
Speaker 1: it is unique. We have not seen anything like it

98
00:05:55,279 --> 00:05:59,360
Speaker 1: in politics. Uh ever, And you know, listen, I tried

99
00:05:59,400 --> 00:06:02,360
Speaker 1: to press him in last debate to lay out who

100
00:06:02,440 --> 00:06:08,200
Speaker 1: he's talking to on national security and it's not it's

101
00:06:08,320 --> 00:06:10,960
Speaker 1: it's not some something he's ready to talk about. And

102
00:06:11,000 --> 00:06:12,839
Speaker 1: then pressed about it the other day, as you mentioned,

103
00:06:12,839 --> 00:06:16,320
Speaker 1: he said he does he consults himself because he has

104
00:06:16,360 --> 00:06:19,680
Speaker 1: a good brain. I think that he is touching this

105
00:06:19,839 --> 00:06:23,000
Speaker 1: chord that is, you know, kick the table over, start

106
00:06:23,040 --> 00:06:25,200
Speaker 1: over in Washington, and he's the guy that can do

107
00:06:25,240 --> 00:06:29,120
Speaker 1: with from the outside, but with no experience, no advice,

108
00:06:29,279 --> 00:06:32,560
Speaker 1: no nothing. There are people who suggest this is a

109
00:06:32,680 --> 00:06:37,040
Speaker 1: rather dangerous course. It is a lot of people. You're

110
00:06:37,080 --> 00:06:41,000
Speaker 1: right say that. I will say this. There are Democrats

111
00:06:41,120 --> 00:06:44,240
Speaker 1: now that are increasingly worried about the prospects of this

112
00:06:44,360 --> 00:06:49,279
Speaker 1: populist message overtaking a general election. Is that because their

113
00:06:49,320 --> 00:06:52,880
Speaker 1: candidate is less than inspiring herself. Yeah. I think they've

114
00:06:52,960 --> 00:06:56,560
Speaker 1: acknowledged that Hillary Clinton is not the greatest campaigner. And

115
00:06:57,040 --> 00:07:01,719
Speaker 1: even though they have exponential leads IM polls on especially

116
00:07:01,720 --> 00:07:06,839
Speaker 1: in African American communities and Hispanic communities. Uh, there's something

117
00:07:07,000 --> 00:07:10,320
Speaker 1: that they're worried about in the internals. I'll go with that.

118
00:07:10,360 --> 00:07:13,160
Speaker 1: But let's you know, the president's rooting for Kansas. I

119
00:07:13,200 --> 00:07:16,320
Speaker 1: believe a guy named Dwight David Eisenhower, but a little

120
00:07:16,360 --> 00:07:21,400
Speaker 1: bit of managerial experience before he darkened the door Pennsylvania.

121
00:07:21,640 --> 00:07:25,720
Speaker 1: He came out of Kansas, and anybody across any flavor

122
00:07:25,760 --> 00:07:28,640
Speaker 1: of the GOP knows you've got to hire a team.

123
00:07:29,080 --> 00:07:32,640
Speaker 1: Do you have any confidence in your interviews and in

124
00:07:32,680 --> 00:07:36,720
Speaker 1: the good debates you've run that this guy, if he's nominated,

125
00:07:37,040 --> 00:07:41,000
Speaker 1: can move to the Reagan middle and bring with him

126
00:07:41,160 --> 00:07:44,480
Speaker 1: a team of people. Well, I do think that he's

127
00:07:44,520 --> 00:07:47,720
Speaker 1: going to lay out a team. Uh. The word is

128
00:07:47,760 --> 00:07:51,800
Speaker 1: that he'll before convention even talk about a team of

129
00:07:51,840 --> 00:07:54,320
Speaker 1: people who will sign on, and there'll be some names

130
00:07:54,320 --> 00:07:57,840
Speaker 1: that calm people down. Um, But I do I think

131
00:07:57,880 --> 00:08:02,560
Speaker 1: that that probably from a lot of people's perspective, needs

132
00:08:02,600 --> 00:08:05,400
Speaker 1: to happen sooner rather than later, because they're they're worried

133
00:08:05,440 --> 00:08:08,200
Speaker 1: about the prospect. I will say one more thing, there's

134
00:08:08,240 --> 00:08:12,680
Speaker 1: this still this thing inside Washington about getting a third party,

135
00:08:12,760 --> 00:08:17,960
Speaker 1: Republican Alternatives, independent run UM that almost certainly would give

136
00:08:18,040 --> 00:08:22,680
Speaker 1: Hillary Clinton UM the presidency, but it would also it's

137
00:08:22,720 --> 00:08:24,840
Speaker 1: still in the works and they're still trying to find

138
00:08:24,880 --> 00:08:27,960
Speaker 1: this team that potentially runs up against him. Well, the

139
00:08:28,000 --> 00:08:32,080
Speaker 1: interesting thing is that, um, you don't see any mainstream

140
00:08:32,240 --> 00:08:35,120
Speaker 1: Republicans signing on with Trump. The people who have endorsed

141
00:08:35,200 --> 00:08:38,840
Speaker 1: him so far essentially on the fringe of the party. Yeah.

142
00:08:38,880 --> 00:08:42,839
Speaker 1: Well you have Governor Rick Scott, he's kind of he's there,

143
00:08:42,960 --> 00:08:45,960
Speaker 1: he's in the party. Uh, you know, Chris Christie, he's

144
00:08:46,000 --> 00:08:49,800
Speaker 1: on board. Um, but I don't think that's there's a

145
00:08:49,800 --> 00:08:53,280
Speaker 1: wave of support. And uh, I think there is definitely

146
00:08:53,440 --> 00:08:56,800
Speaker 1: you know, fifty of the party that's that's looking for

147
00:08:56,800 --> 00:08:59,720
Speaker 1: something else right there. Thank you so much, greatly appreciative

148
00:08:59,720 --> 00:09:02,079
Speaker 1: part for the bracket knowledge. Which where were you two

149
00:09:02,200 --> 00:09:05,800
Speaker 1: days ago? Down? Yeah, special report with Brett Baron of

150
00:09:05,880 --> 00:09:08,800
Speaker 1: course Fox News Sunday. You could hear it along with

151
00:09:08,920 --> 00:09:12,719
Speaker 1: other smart dialogue and conversation and we do that through

152
00:09:12,760 --> 00:09:19,320
Speaker 1: Sunday afternoon here on Bloomberg Radio. I you know what

153
00:09:19,360 --> 00:09:22,360
Speaker 1: I did, I have two brackets. I have a CBS

154
00:09:22,440 --> 00:09:25,679
Speaker 1: News bracket which I got correct because it was auto save.

155
00:09:26,200 --> 00:09:30,120
Speaker 1: I switched to Yale from Baylor and forgot to hit

156
00:09:30,160 --> 00:09:33,840
Speaker 1: the save boots on the Bloomberg bracket. I'm pleased to

157
00:09:33,880 --> 00:09:36,920
Speaker 1: tell you I am in last place. Can I quote

158
00:09:36,960 --> 00:09:41,080
Speaker 1: Hillary Rodham? Clinton could would have? Yeah, well that could

159
00:09:41,080 --> 00:09:43,760
Speaker 1: be there. I love her brackets. She's got Wellesley all

160
00:09:43,800 --> 00:09:47,959
Speaker 1: the way Smith College in the finals. Oh, what can

161
00:09:48,000 --> 00:09:52,960
Speaker 1: you say? It is an interesting political year, um for everyone,

162
00:09:53,320 --> 00:09:58,240
Speaker 1: But you gotta say the folks at Fox, uh, Brett

163
00:09:58,280 --> 00:10:01,560
Speaker 1: and his uh and his colle league Megan Kelly. Um.

164
00:10:03,960 --> 00:10:07,120
Speaker 1: You normally don't see a self described although a lot

165
00:10:07,160 --> 00:10:09,479
Speaker 1: of people would say he's not a Republican or conservative,

166
00:10:09,520 --> 00:10:12,160
Speaker 1: but you know, front runner taking on Fox in the

167
00:10:12,200 --> 00:10:16,280
Speaker 1: way he has UM. Well, yeah, I think it's very fluid.

168
00:10:16,280 --> 00:10:19,160
Speaker 1: And I would also just Michael, it's not over because

169
00:10:19,200 --> 00:10:20,960
Speaker 1: they got to go through this whole you know, meet

170
00:10:21,000 --> 00:10:25,120
Speaker 1: and greet and visit the ballet at the convention, which

171
00:10:25,160 --> 00:10:27,240
Speaker 1: is gonna be a ballet, you know, So I don't think.

172
00:10:28,360 --> 00:10:30,280
Speaker 1: I don't think they debate things over and then you

173
00:10:30,360 --> 00:10:34,120
Speaker 1: get to the actual two party debates as well. So

174
00:10:34,200 --> 00:10:38,480
Speaker 1: I think the theater of this UH is we hopefully

175
00:10:38,880 --> 00:10:41,480
Speaker 1: we can get some dialogue involved. I would suggest, Michael,

176
00:10:41,760 --> 00:10:44,400
Speaker 1: a little shift in the wind that to me, it's

177
00:10:44,440 --> 00:10:48,199
Speaker 1: almost a foreign policy weekend with what Mr Trump said,

178
00:10:48,200 --> 00:10:50,400
Speaker 1: And I'm starting to see a lot of people saying,

179
00:10:50,400 --> 00:10:52,720
Speaker 1: you know, what, what are the foreign policies of the

180
00:10:52,800 --> 00:10:55,839
Speaker 1: various candidates. Yeah, well, he doesn't have any policies that

181
00:10:56,120 --> 00:10:58,440
Speaker 1: you know, in any area, So I'm not sure why

182
00:11:00,000 --> 00:11:02,559
Speaker 1: we should expect anything from there. It is. It is

183
00:11:02,600 --> 00:11:05,960
Speaker 1: a beautiful Friday in New York. We want you to

184
00:11:05,960 --> 00:11:09,360
Speaker 1: stay with US worldwide on economics, f dance, investment, on

185
00:11:09,440 --> 00:11:12,160
Speaker 1: international relations. This is Bloomberg's surveillance