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Speaker 1: This is Bloomberg Surveillance. In order to engage in the

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Speaker 1: acquisition of a company, you have to have a view

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Speaker 1: on the future. M and A is a conviction market.

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Speaker 1: It is the last stop in long term planning. We

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Speaker 1: will continue to see those wage games pick up, and

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Speaker 1: I continue to believe that on a planet rate is

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Speaker 1: going to follow a lot faster than others believe. Overall,

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Speaker 1: the US financial conditions determined pretty much the dynamics of

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Speaker 1: what happens in emerging economics. 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 McKee and Tom Keene Bloomberg Surveillance.

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Speaker 1: Markets on the move today. We'll give you extra data

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Speaker 1: checks in this our futures negative nine is an erosion

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Speaker 1: to equity futures, but they barely describe a record low

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Speaker 1: tenure yield in the United Kingdom. Many other indicators showing

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Speaker 1: not so much distress. I don't want to editorialize, but

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Speaker 1: certainly movement and stresses within equities, bonds, currencies come out

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Speaker 1: as yen one of six sixty three does better. In

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Speaker 1: the last two hours, We're gonna look at American politics

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Speaker 1: here in a moment as well. Let me get right

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Speaker 1: to our foreign exchange brief. We could do an hour

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Speaker 1: and that this morning always brought you by interactive brokers.

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

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Speaker 1: Visit ib k R dot com slash for x to

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Speaker 1: learn about their for x e c N. It includes

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Speaker 1: fourteen of the largest inter bank dealers. Yen stronger not

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Speaker 1: to a one oh five, one oh six sixty two

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Speaker 1: right now, euro weaker one thirteen twenty four euro yen

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Speaker 1: one twenty point seven three euro Danish corona was significant.

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Speaker 1: Danish strength as a remarkable chart back twenty years. And

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Speaker 1: I'd also mentioned Mike New Zealand dollar doing well. Why

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Speaker 1: did New Zealand dollar go stronger, Mike, because the Reserve

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Speaker 1: Bank of New Zealand did nothing today. They kept interest

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Speaker 1: rates unchanged and it's an interest rate differential play. We

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Speaker 1: will now have a same conversation on this presidential Canada

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Speaker 1: campaign with one H. Barber. He has been steeped into

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Speaker 1: Republican politics since time began. I don't think he needs

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Speaker 1: any introduction even to our international office. Governor Barber wonderful

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Speaker 1: to speak to. You you went out with Richard Nixon

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Speaker 1: in nineteen six, you were a mere lad at the

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Speaker 1: University of Mississippi. This is a little different this time.

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Speaker 1: What would be Richard Nixon's counsel to Donald Trump? Uh? Well,

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Speaker 1: I think that that President Nixon would tell Donald Trump

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Speaker 1: when something bad happens to Hillary Clinton, quit stepping on

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Speaker 1: the story. Uh that. Uh that when the Inspector General's

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Speaker 1: report came out, Uh, Trump made a lot of news

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Speaker 1: and and kind of helped to knock it off the

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Speaker 1: front page. And when when something something's bad for your opponent,

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Speaker 1: you don't want to get in the way of the

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Speaker 1: public find out about it. Uh. I think that would

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Speaker 1: be the thing that would be on his mind. Uh today. Uh.

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Speaker 1: I did work for next and forty eight years ago,

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Speaker 1: I dropped out of college and and ran thirty counties

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Speaker 1: in Mississippi. First time I ever saw a pole fix

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Speaker 1: six with Mississippians identified as Republicans. Had been optimist to

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Speaker 1: be a Republican Mississippi back then, So I got to

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Speaker 1: be an optimist today. Barbara Barbara B. Cannibal sat President

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Speaker 1: Nixon down and said it was over many decades ago.

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Speaker 1: Somebody's got to sit Mr Trump down of your ilk

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Speaker 1: and tell him you got to be a change agent

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Speaker 1: right now. If you're gonna move this thing forward, Who's

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Speaker 1: gonna tell Mr Trump what to do in your establishment? Well,

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Speaker 1: of course that's not up to me. To the degree, Uh,

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Speaker 1: Donald Trump wus my advoge. Of course, I'm gonna give it.

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Speaker 1: This is uh life series of choices and choice between

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Speaker 1: Hillary Clinton and Donald Trump. I'm gonna pick Donald Trump

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Speaker 1: every time. Uh. And but I am not insider in

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Speaker 1: that campaign, and so I can't tell you. I can't

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Speaker 1: answer your question because I don't have the information. You

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Speaker 1: are right, You're You're clearly right. Uh. The advice I

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Speaker 1: would give him is make this election about policy making,

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Speaker 1: about Obama's record, his bad policies and failed results, which

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Speaker 1: Hillary Clinton has been telling people daily for months and

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Speaker 1: months and months that she's gonna be a third term

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Speaker 1: for Obama. Well, two thirds of the people in America

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Speaker 1: think our country is going in the wrong direction. They

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Speaker 1: don't want a third term for Obama, and we need

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Speaker 1: to make this election about his bad record and policies,

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Speaker 1: her total agreement and support of that, and what Donald

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Speaker 1: Trump would do differently so that we come out of

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Speaker 1: this very weak recovery. So we Americans back to work,

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Speaker 1: so we see middle class of working class people's wages

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Speaker 1: and incomes go up instead of down. Uh. Those are

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Speaker 1: the things that are on the minds of American people,

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Speaker 1: as well as security, national security particuted because of terrorism,

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Speaker 1: but also the the huge increase of crime in our country,

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Speaker 1: particularly violent crime. Heally, you and I have known each

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Speaker 1: other a long time. It's like a Uh, well, I'll

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Speaker 1: put you on the spot because you know I love you. Um,

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Speaker 1: but you got another exactly. Another Southern gentleman, Lindsey Graham, said,

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Speaker 1: at some point, love of country has to trump. Uh.

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Speaker 1: Dislike of Hillary Clinton given the policies, uh and the

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Speaker 1: pronouncements of Mr Trump. Can you live with that? Uh? Yes,

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Speaker 1: The answer is if the choice is Hillary Clinton versus

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Speaker 1: Donald Trump. For me, Donald, it's a right choice. I

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Speaker 1: don't want a third term for Obama. I don't want

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Speaker 1: to have a continual, continually weak economy, which we have had. Uh.

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Speaker 1: And and there's nothing about it that's getting better. I

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Speaker 1: saw George Soros, very very liberal democrat, very very faithful democrat, uh,

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Speaker 1: made a lot of moves in the stock market recently

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Speaker 1: that indicate that he thinks the economy is gonna get worse.

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Speaker 1: Now when the hard left admits that the economy is

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Speaker 1: gonna get worse, I think the average American has already

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Speaker 1: been seeing that. While the stock market has been going

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Speaker 1: up on main Street in the heart land, for working class,

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Speaker 1: middle class small business people, they can't tell the difference

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Speaker 1: between the recession and the recovery because there is no

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Speaker 1: recovery in a lot of America. Can the Republican Party

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Speaker 1: as uh as defined by Donald Trump as so anti Hispanic,

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Speaker 1: anti Muslim um, can it survives? You had Tom Freeman

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Speaker 1: in the New York Times suggesting that the Republican Party

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Speaker 1: needs to reinvent itself uh going forward. Well, when I

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Speaker 1: look at the Hispanic Latina Republican governor of New Mexico

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Speaker 1: or the Hispanic Latino Republican governor of Nevada, you know,

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Speaker 1: I am reminded of how many Republicans and how many

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Speaker 1: Hispanics or Republicans, and how many Republicans are Hispanic. George

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Speaker 1: Bush got forty four percent of the vote I worked

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Speaker 1: in of the Hispanic vote. When I work in the

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Speaker 1: Reagan Righthouse. President Reagan was very popular among Hispanics, and

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Speaker 1: there are many when my state does not have a

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Speaker 1: large Hispanic population, but Hispanic voters in Missippi overwhelmingly voted

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Speaker 1: for me twice. Uh. So I don't accept that because

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Speaker 1: Mitt Romney uh let himself be portrayed as anti immigrant.

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Speaker 1: Uh that that's the position of our party, it's not. Uh.

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Speaker 1: Donald Trump's positions on that I think a very out

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Speaker 1: of sync with most Republicans and uh and I do

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Speaker 1: think that's a serious political problem for him. The Mississippi

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Speaker 1: Second Congressional District, on that western spine of Mississippi is

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Speaker 1: roughly thirty five percent white Black with as you stay

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Speaker 1: with a little bit of a Hispanic vote at the margin.

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Speaker 1: How does Mr Trump reconnected with the second Congressional District

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Speaker 1: of Mississippi. Well, I happen to live in the second Congression.

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Speaker 1: That's why I brought and uh uh it is we

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Speaker 1: have a African American conffman and have had since nineteen

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Speaker 1: eighty six, not the same one but but but continuously

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Speaker 1: but but there are a lot of Republicans in that district.

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Speaker 1: And as as governor for re election, I got twenty

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Speaker 1: five of the black vote in Mississippi and probably got

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Speaker 1: a little bit higher percentage than that in that district

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Speaker 1: because it doesn't include my home county, but than Cochrane,

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Speaker 1: and most of his elections for Senator received the fourth

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Speaker 1: to a third of the Black vote. How does Mr

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Speaker 1: Trum what you do is you gotta try? Okay, Okay,

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Speaker 1: where's the try, Governor Barber? Where is the try of

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Speaker 1: Mr Trump to reconnect at the margin with Hayley Barber's Republicans? Well? Again,

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Speaker 1: I think the thing that would help him the most

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Speaker 1: is to start talking about policy, start talking about the

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Speaker 1: difference between what Obama has done, which has been a failure,

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Speaker 1: and what he would do. I thought what he made

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Speaker 1: his energy speech in North Dakota, uh, that the content

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Speaker 1: was very good, very republican. Uh. Yet it got overwhelmed

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Speaker 1: because of some other comments he made the same day

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Speaker 1: that uh, I think in the Wall Street Journal, which

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Speaker 1: you would think would be interested in the economic policy,

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Speaker 1: it's fair to say the energy speech was at the

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Speaker 1: very tail of about a forty paragraph story of that

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Speaker 1: just it was he stepped up an old story. As

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Speaker 1: my point, more about policy is what I think that

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Speaker 1: he need do, would do differently. We're out of time

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Speaker 1: with a governor from Mississippi, Henley Barber, we hope to

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Speaker 1: get a minor as he moved to the conventions. This

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Speaker 1: is Bloomberg's surveillance checking out with John Tucker. Get the

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Speaker 1: last one of the national heads. You want more politics?

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Speaker 1: Bernie Centers heads to the White House this morning for

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Speaker 1: a chat with President Obama. Aides The presidents say it

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Speaker 1: won't be issuing a demands. Uh Santers has refused to

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Speaker 1: exit the race, of course. A traditional Muslim funeral will

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Speaker 1: be held today in Louisville, Kentucky, for boxing great Muhammad Ali,

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Speaker 1: who died last Friday at the age of seventy four.

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Speaker 1: The tribal police officer faced the most serious charges in

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Speaker 1: the Fredday Gray case, set to begin today in Baltimore

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Speaker 1: City Circuit Court. At a weekend to June, two tropical

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Speaker 1: storms have drenched the US. Maybe a good time to

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Speaker 1: stock up on duct tape and plywood. The data take

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Speaker 1: the wind out of that idea. From nineteen fifty to

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Speaker 1: two thousand twelve, the number of hurricanes virtually the same,

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Speaker 1: whether the storm activity started in June or not. I

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Speaker 1: can tell you felt like a hurricane yesterday around here.

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Speaker 1: When blue through It's still called the temperature gradient wise.

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Speaker 1: When was something? Wasn't it? Yes? Global News twenty four

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Speaker 1: hours a day, powered by a twenty four hundred journalists

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Speaker 1: more than one fifty news bureaus around the world. Tom

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Speaker 1: the modestteration in futures, John Tucker Futures a negative ten.

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Speaker 1: It's Bloomberg Surveyance Marcot drivers. Brought you by your Mercedes

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Speaker 1: Benz Triestate dealer. The star you've been wishing for his

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Speaker 1: way to get the Mercedes ben Summer. Event Hew, do

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Speaker 1: your Mercedes ben Tri State dealer for more details. Sorry,

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Speaker 1: before this star flies by,