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tv   Whatd You Miss  Bloomberg  September 15, 2016 4:00pm-5:01pm EDT

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bell] scarlet: stocks closing higher this afternoon. major indexes gaining more than 1%. joe: the question is, "what'd you miss?" scarlet: we take a look at china and the fed. joe: and we bring down donald trump's economic speech today. matt: and we dig into a new bloomberg acquisition. it looking at index solutions, what of the most important in the fixed income world. scarlet: we begin with the market minute. the dow moving another triple digit, up by better than 150 points. u.s. stocks gaining more than 1% overall. and all 10 groups in the s&p 500 gaining, this is even as retail sales disappoint. joe: and we will have a 1% move in the s&p 500 for the fourth time in five days. matt: everything is gaining.
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take a look at the map, there is a sea of green. real estate is the smallest winner. of only .5%. industrials on the rear. but telecoms and health care all are up and there is optimism about apple and of the new phone. , you can seen weib that the doubt is showing all 30 -- dow is a showing all 30 stocks up on the day. and the nasdaq, as well. of biggest gains, the least the three major indexes. joe: a quick look at the government bond market, quieter today. we saw a decline for the two-year, and an increase for the 10 year that was hovering around the seven level for a wild. not much action.
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and take a look at the five and 30 spread, 11 straight days of widening on this. we talked about yesterday. this is the longest widening street sense august 2012 -- streak since august 2012. keep an eye on this. scarlet: taking a look at currencies, the dollar affected by the retail sales. i want to highlight the pound because it fell after all nine members of the committee voted to keep those rate and quantitative easing unchanged. and there could be another cut this year even though it is not that. are positive on the session. looking at cable, which is the sterling versus the dollar over a three-month period it is in line with where it was in late july. joe: finally let's take a look
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at oil, that has been volatile lately by oil standards. gaining 0.6%. much ending without change, below $44 a barrel. scarlet: and we have some breaking news. adjusted earnings at $.55, missing the estimate of $.58, so that is a three cent miss for oracle. dollars inlions of revenue. and they were looking for a $.7 billion, so that is a mess -- a miss. million in a $969 business and they say they added new software services for customers in the first quarter. eventually, they will come through to regular revenue. we will keep an eye on this in the after-hours, but in the meantime we have more coverage. joe: i want to get the daybreak
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asia anchor betty liu who has an exclusive interview with stephen schwarzman. betty: great to see you. >> great to see you. betty: you just got back from china, you launched the scholars program with the university. and i know that you spent quite a few days in china. you are at the g-20. , what was -- tell me, what was your impression of china? betty: -- stephen: china is always changing. things seemed to be stable. at the currency is south of the range. the economy is still being reported in the 6% growth area and there is a sense of -- at the world
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thought about china in the first mother to of this year in the first -- in the first mother two of this year incorrectly. everything seemed to be going wrong financially, whether it markets,ncy stock economy, but that moves behind them. now it is ok. the economy is moving, doing better than people thought. -- itconsumer-based and is consumer-based that they are trying to move to. it seems to be doing ok. wages are up, hiring is up. ok, wee is a sense that are at another level. we are at a satisfactory level. let's see how we can build. betty: does it feel fragile or solid? stephen: more solid than it did. i do not know why. betty: you met with the deputy
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governor of the people's bank of china when you were there. what did he say to you? did he give you confidence about the central bank? stephen: i cannot share with you what people say to me sometimes. [laughter] stephen: i think there was a sense that was somewhat pervasive that there is not a risk in the system -- there is a risk in the system that people were coping with. betty: the chinese currency really signals that everything you said, the economy is stabilizing, things seem like they are on the up and that is what we see with the exchange rate. do you expect that to continue? thaten: i do not think anyone is looking for the currency to be depreciated. it where it is, slightly less, i am not a currency manager but i think there is a sense that
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things are in a good zone. betty: how did the g-20 go? how do you think the president did? stephen: i think the president of china made a good impression. he made a speech for 50 minutes and he was confident, he had a vision of an inclusive asia. it was very much tech focused, which is a big change. 3-4 years ago, the major driver -- betty: that is surprising. be more china seems to of an innovative economy, so it was very interesting. it was a powerful vision and also he was laying out a peaceful vision of inclusiveness . and also within his own country.
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because they still have a significant number of very poor people, somewhere around 75 million. how it wased about the country's obligation to take care of these people and move poverty as aut of responsibility. so it was an interesting speech and a very self-confident speech. and so he is growing into his job for sure. and to an outsider i think everybody was nodding that was a good sendoff, the start of the big meetings. betty: you used the word confident. do you think it was not as confident before? stephen: i think everybody that starts a new job does not know it as well. until they do it for a few years. there is a firm vision. he started with the china dream.
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very much like the american dream. that was his first speech, i want my people to be wealthier, i want them to have better health and have them live in a better place. they are working on that. and to the real estate market has done well, so people have more of a sense of well-being from a year ago. met presidents c hi, and the government has supported the scholars program. he wrote a letter for it, you had the opening of the program and device for me or their -- vice premier there. so how did it go? is in their program interest. when i started the program, i thought it was in the world's interest. i certainly thought it was in
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.he interest of the west china has adopted this, they realize it is an important place brightest can and come to china and learn about china. you know, for 200 years it was not a good bunch of centuries for china, for a culture that is 5500 years old it dominated the gdp.with 25% of global by 1976 they were down to about 2% of global gdp. so it has had a huge rebound. and i think part of the program is that it is one of the few times that the best and brightest have come to china, over a long period of time, with
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no desire to exploit it or have it just be a market. it is really to learn from the chinese. betty: learn to innovate. stephen: yes. so this is very much valued in china. betty: are you worried that that will become my do not want to say broken, but it will be in jeopardy given what is going on in the politics here and at the rhetoric we have seen out of both candidates at -- are you worried about that? stephen: i am not surprised by it. one reason why i wanted to start this is i could sense of the populism in the u.s. certainly and is spreading to other countries after the financial crisis. it is only a matter of time before the people who are unhappy in their own countries start looking for someone to be angry at. and i thought that china would be the number one candidate
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because they are the second -- betty: for that kind of rhetoric. stephen: the largest country population wise, the wealth transferred there. so i thought it was a high probability that there would be a targeting of china. betty: do you think it will get worse? cannot tell. it would not surprise me. because as you have challenged countries like china and challenging the incumbent global power, the united states, that the professor at harvard read about this scenario and -- wrote about this scenario and 12 of the 16 times you have had a similar challenges, you have had wars between the challengers and incumbents. so i look at that statistic.
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that 75% probability of outcome. so we have to do something to get in the way of those types of forces you are describing. betty: outside of politics, going back to stability in china and throughout the region, some people say a wildcard is what the fed does here. in terms of, will they hike too early, too late perhaps. we have heard different .iewpoints in the last few days do you think that is a risk factor at all? do you think they should move? stephen: a risk to the u.s. economy or the global economy? betty: the global economy. stephen: i think the fed will increase rates. this is been a topic of numbing boredom to me. [laughter] betty: for years.
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stephen: one small increase in three years. thancupies more headspace almost anything i have heard about. betty: you try not to think about it? stephen: not much, because i know that the u.s. economy is not particularly strong. and central banks who are aware that there is no fiscal cooperation in the united states for years -- they are the only protocol, the only people that can do anything. so they know if they must play -- misplay their hand and put the u.s. in a recession, this could be a disastrous outcome for them. so i always knew that. you know the people, they are not politically unastute. it is on them. so their desire to be aggressive
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and potentially have a bad outcome is very low, so that is a reason that all of these people keep saying the fed could increase interest rates. we are wrong. we will have a new president and we are going to have a new congress and there may be some room to do some things fiscally to stimulate the economy. and if there are, the fed will have more comfort to raise rates. anyway it goes, i think the probability that the fed does anything aggressive -- 25 basis points, 50 basis points -- it is , but it affect markets will not affect the u.s. economy. so i look at it in a very -- with some sense of perspective and realize that markets are volatile and a lot of people make markets, say that they
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react to the same thing at the same moment. but you should not have much in the way of long-term damage. betty: the markets do not equal the economy, so what you see with the market does not necessarily signal what is happening with the economy. will you stay with me for a little bit more? we will take a quick break. stephen schwarzman. we will be right back. ♪
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♪ -- : betty: this is "what'd you miss?" we are back with stephen schwarzman. let's talk about politics. when you are in china, did people ask you about donald trump or clinton?
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stephen: probably eight months ago. almost nobody mentioned it on this trip. betty: really? quite curious was about that. one reason that they do not mention it is because they have had a lot of dealings with hillary clinton. she was secretary of state. betty: they know her. stephen: they know her. with donald, i think that they sort of,n the pile of this is an american election and you can say anything. and they are sophisticated and they will articulate, we know how american elections work. people say what they need to and we do not take that seriously because there is governing and there is running, so i was really amazed that people did
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as they as animated were, and as americans are. betty: do you think they are right in their interpretation? stephen: time will tell. betty: what did you make of trump's economic plan? stephen: i did not hear it. i do not hear what he had to say. betty: he said he would create 5 million jobs over the next decade. he instituted different tax planets, reformed his tax where he talked about three different tax breaks. a 3.5% economic growth over the next 10 years. i mean, does any of that sound achievable? stephen: all of that sounds wonderful. if you could do that. andeconomy is complicated you know, there are other parts.
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his plan, i do not know how immigration really fits in that. really removing a large number of people, that have to adversely affect the commie. i believe that reducing the number of packets -- brackets to as few as possible and getting rid of virtually all tax preferences in favor of very low rates, that is the right way to go. betty: you are in favor of a flat tax, right? stephen: as far as one bracket, that is not fair for everybody. -- but fewer number of with a large number of brackets, use -- you stay where you are. but simplicity is a good thing. it makes sense to people and it makes fairness sort of transparent and so forth.
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so that is a good thing. and countries that have adopted that type of policy have done well over time. so i think that is a fundamentally a good idea. person's plan speaks to that. betty: that framework is the right plan. stephen: i also think that it is really important to do something burden onregulatory the u.s. economy. i think that feeds into productivity as well, because is likery structure now a major tax on economic growth. without economic growth than the regular people in america, they will suffer. betty: yes. so regardless of all of that, taking all of that into
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consideration, who are you going to vote for? stephen: i am watching this closely, because it has gone from just throwing mud at each iser to actually -- it venturing into policy. betty: are you undecided? stephen: i am right now. betty: if you had to vote for someone today, who would you vote for? stephen: fortunately i do not have to vote today. i think if there is going to be changes that occur over the next seven weeks as the candidates realize that throwing mud at each other is boring -- that was an interesting show. betty: that is why we are in a and neck. -- neck and neck. stephen: i think people are offng either, i am turned of voting, or i will vote for
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one i do not want to. so make pretend you are one of those candidates, you would not be doing this exact same thing. betty: if you did not hear what you needed to, would you abstain from voting? stephen: i have not figured out what i will do. i have a sense that things will clarify and usually i do not make decisions in business or any other time until i see the pattern really forming. and we have not gotten there yet and there is going to be change, i think, that is coming up. betty: thank you so much. stephen schwarzman, the blackstone ceo. matt, staying on politics, hillary clinton is having a rally. matt: she is talking to the press after a rally in north carolina. let's take a listen. >> i said it from the beginning, whether i was up or down, i
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think those are the kinds of presidential elections we have in america at this point in our history. i am proud of the campaign that we have put together and i feel like we are in a strong position going into the last weeks. what matters is who registers to vote and who is motivated to turn out to vote and i will keep doing everything i can to deliver my message about what is at stake in the election. and my campaign is going to continue to work hard every day to turn out to every voter we can. and that is our goal and our strategy. >> secretary clinton, the agreement that john kerry negotiated with the syrian violence and reports out of today indicate that assistance is having trouble reaching the city. was wondering if you think the nextment -- and what the
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steps of the u.s. should be? hillary clinton: this has been a terrible conflict and to the humanitarian cost is incalculable. i applauded secretary kerry and his persistent efforts to try to reach some kind of agreement with the russians in order to non-hostilityof to get assistance into aleppo and other places in syria. i think whether or not this works is up to the russians. it is up to whether or not vladimir putin decides it is time to do with the russians can do to bring this conflict into a be thewhere there can
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beginning of political discussions. they hoped -- a hoped for protective zone of people who are under relentless assault from the air. and a commitment for going after the terrorist groups that pose a threat to everyone. so i am going to watch this itsely, but at the end of it will be determined by whether or not the russians decided it is ittheir interest -- decide is in their interest to pursue this agreement. >> it appeared that your running mate may not of been aware of your pneumonia on friday. i am wondering when you informed him? and if you did not inform him on friday, i was wondering how it would be in the white house during your administration? hillary clinton: my senior staff new and -- knew and information
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was provided to a number of people. this was an ailment that many people just power through and that is what i thought i would do as well. i do not want to stop, i do not want to quit campaigning and i do not want to miss the 9/11 memorial. the senator -- as a senator at that time i consider it a sacred moment. i wanted to be there. it did not work out. i got the antibiotics and the rest i needed and we went on from there. [indiscernible] of tim kaine, how often you talk india relationship, whether -- and your relationship, whether you would be a real partnership. objectives, where
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jeopardize byhey you not explaining -- hillary clinton: look -- [indiscernible] hillary clinton: i communicated with him and i spoke with him last night and he has been a great partner and he will be a great vice president. [indiscernible] hillary clinton: we communicated , but i am not going to go into her personal conversations and i feel very comfortable and confident about our relationship . and i really look forward to working with him closely. [inaudible] rough -- can you be more specific about why those are the way you are
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referring to. and can you talk about your illness over the weekend? hillary clinton: my campaign has a said they could have been faster. i agree with that. i expect them to be as focused and quick as possible. but, i have to say from my i thought i was going to be fine and i thought there was not really any reason to make a big fuss about it. so i should have taken time off earlier, i did not. now i have and i am back on the campaign trail. -- meeting with leaders from other countries, neither they or their citizens can vote in the united states, so why are you taking time off of the campaign
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trail, what can it get you? hillary clinton: i think it is important to be constantly to,hing out, listening learning from leaders. i was pleased to find the time to meet with several of them, which i intend to do to hear firsthand their perspective about what they see happening in the world today, answering their questions from what i think is happening, whether it is in syria or anywhere else. there is a lot going on in the world and i have a long-standing set of relationships that go back not only to the secretary tostate and senator, but first lady. and i think it is important to tend to those relationships and i will not be able to have as many meetings because of the press of the campaign as i have had in prior years, but i am
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looking forward to the ones we have scheduled. [chatter] hillary clinton: thank you all very much. scarlet: ok, that was hillary clinton in north carolina. she of course answering questions after she had basically called in sick, i should not say that, after she was -- after the campaign announced that she had pneumonia. joe: following the collapse. she had fallen to the ground and her aides had to hold her up. she had not admitted she had pneumonia. scarlet: and she said that her campaign could of been faster in releasing not to the press. matt: she had a good point. she said she thought she could power through it. and i am sure that we have had that, thought we could get through it and you cannot always do that. scarlet: you took a sick day
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earlier this week. matt: i decided not to power through it. scarlet: let's take a look at market action. we see stop driving and apple has been the driver. in crude oil came back, so the dow was up. this is the fourth double-digit point move it for the dow industrials in the last five days. so the doldrums we have experienced have gone to the wayside. and the s&p 500 gaining more than 1%. matt: we've been talking about apple and how they are doing so well. this is because of the feedback we are hearing about the iphone seven. and also the market share from samsung, because we galaxy note 7 story does not go away. the new device apparently catches fire, some people use the word explode. samsung will recall more than
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one million galaxy note 7 smartphones. it they continue the recall. they have been recalling a number of them to begin with. of truthis just sort of the point that it is not always easy to increase battery life without running into problems. scarlet: i am glad you like it to apple. you see the headline, this is 's sold.he galaxy note 7 matt: if you get a recall and you need a gigantic smartphone to work on, you might as well go for the iphone seven plus. joe: it has been the forefront of political debate for economists around the world, the rise in income inequality. but the next guest says we have misdiagnosed its causes. here to explain is that conard -- ed conard.
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ed, thank you for joining us. congratulations on the new book. what have we gotten wrong about inequality? why has it turned out to be good? thei think that we saw wages of the 1% with the middle class and we blamed one for the other one and they are really two completely independent anomalies. the success of the 1% is driving employment and accelerating growth, relative to other economies like germany, france, japan and the rest of europe. it is not responsible for the slow growth. joe: what is the evidence that the 1% has, the rise of the 1% and extreme wealth has not been a detriment to the overall economy? ed: there is overwhelming evidence. look at the entrenchment of the status quo, you see the fortune 500, you see ceos and their
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tenures declining. and if you look, there is turmoil, the largest companies of 2000, most of them are gone except for microsoft. there are new competitors emerging in that sector. if you look at u.s. growth relative to other high wage economies, we have accelerated and allocated resources at the level that would be required to account for income inequality. inshould have had a slowdown growth and we had an acceleration. i could go through all of these things. if you look at the middle class, there was research the other day published that said that there was an 11% hollowing out of the middle class. seven point of upward movement, for pointed downward and three of them came from the influx of hispanic immigrants. and for the rest of native americans, not immigrants, it was one point down. scarlet: income inequality is a huge topic from the last couple
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of years. does president obama deserves some of the credit? ed: he has cast dispersions on for the slowng it growth of the middle working class and i think that is a misdiagnosis that has led to a slowdown in growth. we should have had a rebound and some growth eight years later. i realize it is slower after the financial crisis, but we are way past that and we've not seen a rebound in growth. this year we have seen a little bit of an uptick. joe: what is behind the slow growth for the middle and working class? matt: if it is not the 1% taking a piece of the pie, the fixed pie that a lot of people see, why is there a slice not growing? ed: there are two constraints to growth, and one of them is properly restrained -- properly trained, and risk-taking more
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broadly. not capital. today,e 0% interest rate we are not a manufacturing-based economy with a lot of capital. take about a worker in indiana. and plans go to mexico. and we tell the worker, do not worry. entrepreneurs are coming and they will put you back to work and they will compete and invest capital and capital is on the sideline. it will drive productivity and it will bring wages back, do not worry. that guys looks and says, that if a newer is have gone to california and outsourced jobs to california. and the whirlpool engineers left behind are designing products for factories that are employing mexican workers. where is the talented that is going to drive up my wages? that is the constraint. joe: the free market view of the economy essentially says the government needs to step back and let the risk takers great
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wealth. but -- create welfare but a lot of the risk takers, they built fortunes because of investments that were public at some point. the internet entrepreneur is, that was a public sector thing. steve jobs and the iphone, technology, originally the public sector. inventions -- doesn't that call for the vigorous continued involvement of the public sector , spending money on research, investing in the economy, to continue that? ed: i am not on the far end of the spectrum with free market and laissez-faire capitalism. there is a lot of productive regulation that is useful. i think the web of regulations created every year certainly slowdown growth, but i have proposed many ways for the government to intervene. you cannot walk away from free trade. you cannot make for $20, what you can buy for two dollars.
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and on the other hand, we do not have to read -- run trade deficits every year to have free trade with other economies. and i think we should balance trade, free and balanced trade. and with a 0% interest rates, we know that germany and china, they put savings into our economy and we have no use for it and we do not for the savings to work, we basically export it. it makes no sense. and i am not every man for himself. joe: you are arguing for supply-side economics. matt: why did reaganomics get such a bad rap? because of the misunderstanding in inequality, or is there something else? ed: be careful about -- matt: they did drive a large deficits at that time. it has changed, this is not a binding constraint
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anymore. it is about risk-taking and talented we deliver the marginal tax rate in the 1980's and by the 1990's, the growth accelerated to other high wage economies. and it has continued to accelrys .5 years. -- accelerate for 25 years. i think maybe the economics that were espoused when we were a manufacturing economy no longer apply. but i do think that there are elements could go to growing the economy. , one of the most extraordinary and wealthy societies of this time, even people in your the bottom of the u.s. have done by global and historical standards mode well. but people also called out -- care about relative wealth and how they are doing compared to their neighbor and how they do compared to people in the media and when they see they are falling behind other people, they get angry. it appears to be corrosive to politics. is there a case to be made that
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not from a real wealth perspective, but from a societal perspective it is important to balance out the relative wealth? ed: my view would be, a lot of andstments and risk-taking hard work comes from feeling like you are falling behind. so for example, when i was a partner at bain capital, everybody was running to the internet because they all knew somebody that had made $100 million. and it drove them to take a lot more risk. it is a good thing, not a bad thing. we need talented workers in society to be will -- to be working like everybody else. say closely related to this, when you look at companies, a lot of investment is -- apple makes iphone and my business is in trouble and i
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better and best and innovate to stay even. you have to run hard to stay in place. joe: ed conard. appreciate you coming and taking the unpopular stance on this question. looking forward to the debate continuing. scarlet: coming up, the personal tour of some of the most important functions of the fixed income world. we will explain. mrs. bloomberg. ♪ -- this is bloomberg. ♪
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♪ joe: "what'd you miss?" test with a recent backup in global rates, there is a new way to analyze bond markets. on the bloomberg, like never before. here to show us how to navigate the functions, sarah klein. matt: what we are talking about
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is an old way of looking at the bond markets. the ag has been the gold standard in fixed income indexes since it was created about 3-4 decades ago. it is now available on the bloomberg after an acquisition is made and you can see everything. we recently completed the acquisition of the portfolio analytics business from barclays and it includes fixed income benchmarks, the industry's across the globe, inflation, covering everything in the fixed income matt: it cannot be understated how important the ag is. they have debt issues that are put into the index and get from of fixedsnp of -- s&p income indexes. guest: it is quoted as the market. go.: i'm looking at imdb
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tell us what we're looking at. sarah: this is an overview of the bloomberg industries, you can see a list of the most popular in each family. across the top. joe: you see it on the left. 0.35%. sarah: and that is from today. if you run the next function. .carlet: click around there is global, u.s. and europe. go into the u.s. and focus on the u.s. aggregate and he can see it is a broad swath of different products. top andook across the you can see that this is where the investors are coming for daily performance numbers. yet month -- you have month to date return. the u.s. ag is up.
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i think the s&p 500 is a little over 5. is another thing you get richer picture. you need more than just one return value for the index, so that gives you break down by maturity, the rating and sector. and for example, you can see clearly that the highest rated portion of the index, the way -- aaa, is about 4% year today. and if you look at the lowest rated portion, it is almost double that. scarlet: 9.1%. matt: this is a fascinating way to look at it. joe: what we can also do and what we are starting to do with more indexes is in being able to price them in a tick by tic way. matt: rather than just by the end of the day. sarah: exactly. traditionally the benchmarks are looked at once a day. so you are going to check the
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numbers the next day. but then you have to wait for the next day at close. matt: sarah klein, thank you for showing us all of the new tools. ♪
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♪ joe: "what'd you miss?" a askedrg's david gur elizabeth warned what she thinks of the latest ohio poll, showing tonnage of ahead of hillary clinton -- donald trump ahead of hillary clinton. elizabeth warren will be camping with hillary clinton in ohio this weekend. and she says that on a jump should not be counted on to lead. angerhas led to genuine
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in america. people like to be angry about what is happening in the country. we have built something terrific in this country, yet now we have a washington that works only for lobbyistshe top, the and the lawyers. but donald trump's view is to make the problem worse. i will talk about how to build an economy going forward. i'm going to talk about how hillary clinton has the vision to be about to do that, she has the right kind of -- i think, the sober reflection we need for a leader of america. david: donald trump was speaking today in new york and he said, toyou elect hillary clinton be present, it will be a continuation of barack obama's policies. those in ohio that are dissatisfied right now, can you make the case to them that hillary clinton's economy will
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be different than the barack obama economy? and is it a case you want to make? >> it is. let's talk about the banks. they have not been held accountable enough. let's trump's answer is, turn them loose, let's let them cheat and do anything they want. hillary clinton said explicitly that she is going to stop the revolving door between wall street and the federal government, so these guys do not get to run the big banks and come in and run the government to help the big banks, then go back to the big banks. that is important and at specific. she says she is not going to repeal the financial regulation, she is going to strengthen the financial regulation. and she says, if they continue to pose a threat to our economy and our country, then she is willing to break them up. these are very different
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directions. donald trump wants to take us in a different direction certainly, he wants to go back to the days doore 2008 and let the banks what they want to do. and hillary clinton says, we need to have more protections for the american people. we can keep running that through every part of this. she wants changes in taxes, he does as well. she wants people at the top to pay more, he wants people at the top to pay less. those are big differences. one more, it is important. it goes to a question about transparency, which there has been a lot of talk about lately. she has put all of her taxes out there for years, for everybody to see. her medical records now out there for people to see. donald trump will not release his taxes. you keep wondering, because he has so much pressure on this my what -- in this, what is behind
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this? people have discovered that he has ties with foreign governments, business ties, financial ties. he has had russian oligarchs that have financed some of his business operations. he wants to reveal none of that. this is a man that has put his own interests ahead of everyone, pretty much his whole life. and now he did not even want to tell us where his business interests lie. i think the differences between hillary clinton and donald trump are extreme. that is why i am in the race to help get hillary clinton elected. joe: that was elizabeth warned with david -- warren with david gura. scarlet: this is bloomberg. ♪
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♪ scarlet: the dow rose more than 150 point. the s&p 500 rebounded and apple extended, lifting the market overall. joe: a 1% move in the markets and all of the stocks are up. scarlet: as for to mark my do not miss this. russia announcing interest rates tomorrow. and economists expect a cup. --ter, the central bankers last year, the central bankers defended their policy. meetand european leaders in bratislava, the capital of slovakia to discuss the brexit though. matt: and tomorrow, i will be to to see if --
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inflation is moving toward the fed's goals. scarlet: thank you for watching. joe: have a great evening. matt: this is bloomberg. ♪ a
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john: i'm john heilemann. i'm donny deutsch. with all due respect to those mocking trump's assertion that campaigning his exercise -- mr. trump: i guess it is a form of exercise. who are you to judge how a man uses his hands? ♪

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