Speaker 1: Global business news twenty four hours a day at Bloomberg
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Speaker 1: This is a Bloomberg Business Flash and I'm Karen moscown Is.
Speaker 1: Updates brought to you by National Realty Returns on cash
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Speaker 1: a dot net. We have some headlines crossing the Bloomberg here.
Speaker 1: Starward Hotels are saying and bank groups bid for seventy
Speaker 1: eight dollars a share is superior to that of Marriott International,
Speaker 1: and Starwood is notifying Marriott that is going to end
Speaker 1: their merger pack again. It says that a bank group
Speaker 1: spid was superior to Marriott's USACK index. Futurist rising equities
Speaker 1: are poised to advance for a third day to extend
Speaker 1: their longest streak of weekly games since November. SNP e
Speaker 1: Mani futures have six and a half points, DOWI Mini
Speaker 1: futures of fifty two nas, Documny futures up twelve, DAX
Speaker 1: in Germany up three tenths per cent. Tend your treasury
Speaker 1: of three thirty seconds, the yield one pot eight eight percent.
Speaker 1: Nim X screwed oil up two point one per cent
Speaker 1: or eighties three cents to forty one oh three of
Speaker 1: Barrel Comax School down one per cent or twelve dollars
Speaker 1: twenty cents to twelve fifty to seventy announced the euro
Speaker 1: another twelve eighty eight and the EN one eleven point
Speaker 1: five zero, and Tiffany gave a forecast for earnings this
Speaker 1: year that trailed analysts estimates as a sluggish global economy
Speaker 1: damp sales. It shares down two tents per cent this morning.
Speaker 1: That's a Bloomberg business flash. Tom and Mike Karon Moscow,
Speaker 1: thank you very much. Well, Tom, if you take a
Speaker 1: right out of DePaul University onto noh, well, hold on
Speaker 1: to that thought. Your just dazzled because you're so far
Speaker 1: ahead of me with your bracket. You don't know how
Speaker 1: to speak. We'll talk brackets. Have you ever been this
Speaker 1: much in last place like me with my bracket? I
Speaker 1: think we're we're both in competition for that. Yeah, well,
Speaker 1: let's get to that in a minute right now. Though,
Speaker 1: that's something important. It is on Wall Street. The following
Speaker 1: is from Bloomberg View Opinions. In comment, Arry from Bloomberg lists,
Speaker 1: I'm justin Fox, a columnist for Bloomberg View. After years
Speaker 1: of downsizing and reorganizing, the US manufacturing sector has become
Speaker 1: the world's most competitive. Output per worker is higher in
Speaker 1: the US than anywhere else. Unit labor costs are lower
Speaker 1: here than in Brazil, Canada, and Germany, and they're about
Speaker 1: the same as in China. That's all from a new
Speaker 1: report by Oxford Economics, and it's great news. Right time
Speaker 1: for a manufacturing renaissance. Well maybe eventually, but there are
Speaker 1: few signs that it's actually happening yet. The trade deficit
Speaker 1: and manufactured goods, for example, has been growing instead of shrinking.
Speaker 1: That's partly because the US economy and dollar are relatively
Speaker 1: strong right now, which depresses exports and encourages imports. It's
Speaker 1: also because manufacturers don't redo their supply chains overnight. They
Speaker 1: may still bring production back eventually, but it's also possible
Speaker 1: they won't. For labor intensive products like clothes and furniture,
Speaker 1: there's still a lot some countries where they can be
Speaker 1: made much more cheaply than in the US. And for
Speaker 1: some high end products such as electronics, it may be
Speaker 1: that in their rush to outsource and offshore, US companies
Speaker 1: destroyed the knowledge needed to make them here. I'm Justin Fox,
Speaker 1: a columnist for Bloomberg View. For more Bloomberg opinion commentary,
Speaker 1: please go to Bloomberg View dot com or view go
Speaker 1: on the Bloomberg terminal. This has been Bloomberg View. Bloomberg
Speaker 1: commentaries can be heard hourly weekdays on Bloomberg Radio. What
Speaker 1: we were starting to talk about our brackets before I
Speaker 1: messed up there. What really messes you up in the
Speaker 1: brackets is when a team loses that you have going
Speaker 1: on into further rounds. What really messed me up is
Speaker 1: MS Rachel's team from West Lafayette, Indiana, the boiler Makers
Speaker 1: executive producer down flames. Um. But the good news is
Speaker 1: if you go south from West Lafayette on route to
Speaker 1: thirty one UH eventually turns into North Jackson Street runs
Speaker 1: into DePaul University UH in Greencastle, Indiana, which it turns
Speaker 1: out is a basketball power right in the n C
Speaker 1: Double A Division three, which is what brought Brett Bear
Speaker 1: there no doubt, Um, he wanted to be part of
Speaker 1: a winning tradition, the DePauw University Tigers. Um, you know,
Speaker 1: not only a basketball power, but Brad Stevens, who coaches
Speaker 1: the Boston Celtics. It was a star for DePaul University,
Speaker 1: and Brett Beer went onto some indistinguished career where nobody's
Speaker 1: ever heard of him. Again. He the most special report
Speaker 1: on Fox and of course you could hear uh Fox
Speaker 1: News Sunday here on Bloomberg Radio every weekend. Who obviously
Speaker 1: Depat is not in the big dance. He goes to
Speaker 1: the small dance regularly. But who's your team? Uh? This
Speaker 1: year was a good preamble there. Um, my team. And
Speaker 1: by the way, Brad Brown now also at the Paul
Speaker 1: guy is the head coach at Clemson. Uh so there's
Speaker 1: a basketball tradition. I played golf all four years at
Speaker 1: the pause, so much different deal. My team is Virginia.
Speaker 1: I think Virginia looks good number one seed. Um, but boys,
Speaker 1: I love watching those early games. Okay, So the president
Speaker 1: has Kansas Secretary Clinton has an IVY League seven Sisters brackets.
Speaker 1: She's got Wellesley going all the way. Does Mr Trump
Speaker 1: have a bracket runt? I don't think he does. I
Speaker 1: don't think he does. But it's because he's speaking for himself.
Speaker 1: He's number one. Because I have a very good brain
Speaker 1: and I'm going to do this whole thing by myself.
Speaker 1: Have you ever seen this, whether it's foreign policy or
Speaker 1: Mr Trump's bracket. It's original, isn't it. It's really amazing. Uh,
Speaker 1: it is unique. We have not seen anything like it
Speaker 1: in politics. Uh ever, And you know, listen, I tried
Speaker 1: to press him in last debate to lay out who
Speaker 1: he's talking to on national security and it's not it's
Speaker 1: it's not some something he's ready to talk about. And
Speaker 1: then pressed about it the other day, as you mentioned,
Speaker 1: he said he does he consults himself because he has
Speaker 1: a good brain. I think that he is touching this
Speaker 1: chord that is, you know, kick the table over, start
Speaker 1: over in Washington, and he's the guy that can do
Speaker 1: with from the outside, but with no experience, no advice,
Speaker 1: no nothing. There are people who suggest this is a
Speaker 1: rather dangerous course. It is a lot of people. You're
Speaker 1: right say that. I will say this. There are Democrats
Speaker 1: now that are increasingly worried about the prospects of this
Speaker 1: populist message overtaking a general election. Is that because their
Speaker 1: candidate is less than inspiring herself. Yeah. I think they've
Speaker 1: acknowledged that Hillary Clinton is not the greatest campaigner. And
Speaker 1: even though they have exponential leads IM polls on especially
Speaker 1: in African American communities and Hispanic communities. Uh, there's something
Speaker 1: that they're worried about in the internals. I'll go with that.
Speaker 1: But let's you know, the president's rooting for Kansas. I
Speaker 1: believe a guy named Dwight David Eisenhower, but a little
Speaker 1: bit of managerial experience before he darkened the door Pennsylvania.
Speaker 1: He came out of Kansas, and anybody across any flavor
Speaker 1: of the GOP knows you've got to hire a team.
Speaker 1: Do you have any confidence in your interviews and in
Speaker 1: the good debates you've run that this guy, if he's nominated,
Speaker 1: can move to the Reagan middle and bring with him
Speaker 1: a team of people. Well, I do think that he's
Speaker 1: going to lay out a team. Uh. The word is
Speaker 1: that he'll before convention even talk about a team of
Speaker 1: people who will sign on, and there'll be some names
Speaker 1: that calm people down. Um, But I do I think
Speaker 1: that that probably from a lot of people's perspective, needs
Speaker 1: to happen sooner rather than later, because they're they're worried
Speaker 1: about the prospect. I will say one more thing, there's
Speaker 1: this still this thing inside Washington about getting a third party,
Speaker 1: Republican Alternatives, independent run UM that almost certainly would give
Speaker 1: Hillary Clinton UM the presidency, but it would also it's
Speaker 1: still in the works and they're still trying to find
Speaker 1: this team that potentially runs up against him. Well, the
Speaker 1: interesting thing is that, um, you don't see any mainstream
Speaker 1: Republicans signing on with Trump. The people who have endorsed
Speaker 1: him so far essentially on the fringe of the party. Yeah.
Speaker 1: Well you have Governor Rick Scott, he's kind of he's there,
Speaker 1: he's in the party. Uh, you know, Chris Christie, he's
Speaker 1: on board. Um, but I don't think that's there's a
Speaker 1: wave of support. And uh, I think there is definitely
Speaker 1: you know, fifty of the party that's that's looking for
Speaker 1: something else right there. Thank you so much, greatly appreciative
Speaker 1: part for the bracket knowledge. Which where were you two
Speaker 1: days ago? Down? Yeah, special report with Brett Baron of
Speaker 1: course Fox News Sunday. You could hear it along with
Speaker 1: other smart dialogue and conversation and we do that through
Speaker 1: Sunday afternoon here on Bloomberg Radio. I you know what
Speaker 1: I did, I have two brackets. I have a CBS
Speaker 1: News bracket which I got correct because it was auto save.
Speaker 1: I switched to Yale from Baylor and forgot to hit
Speaker 1: the save boots on the Bloomberg bracket. I'm pleased to
Speaker 1: tell you I am in last place. Can I quote
Speaker 1: Hillary Rodham? Clinton could would have? Yeah, well that could
Speaker 1: be there. I love her brackets. She's got Wellesley all
Speaker 1: the way Smith College in the finals. Oh, what can
Speaker 1: you say? It is an interesting political year, um for everyone,
Speaker 1: But you gotta say the folks at Fox, uh, Brett
Speaker 1: and his uh and his colle league Megan Kelly. Um.
Speaker 1: You normally don't see a self described although a lot
Speaker 1: of people would say he's not a Republican or conservative,
Speaker 1: but you know, front runner taking on Fox in the
Speaker 1: way he has UM. Well, yeah, I think it's very fluid.
Speaker 1: And I would also just Michael, it's not over because
Speaker 1: they got to go through this whole you know, meet
Speaker 1: and greet and visit the ballet at the convention, which
Speaker 1: is gonna be a ballet, you know, So I don't think.
Speaker 1: I don't think they debate things over and then you
Speaker 1: get to the actual two party debates as well. So
Speaker 1: I think the theater of this UH is we hopefully
Speaker 1: we can get some dialogue involved. I would suggest, Michael,
Speaker 1: a little shift in the wind that to me, it's
Speaker 1: almost a foreign policy weekend with what Mr Trump said,
Speaker 1: And I'm starting to see a lot of people saying,
Speaker 1: you know, what, what are the foreign policies of the
Speaker 1: various candidates. Yeah, well, he doesn't have any policies that
Speaker 1: you know, in any area, So I'm not sure why
Speaker 1: we should expect anything from there. It is. It is
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