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tv   Bloomberg Markets Americas  Bloomberg  November 9, 2016 10:00am-11:01am EST

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i'm vonnie quinn. welcome to "bloomberg markets." global reaction to donald trump's victory in the presidential race. first, let's talk to julie hyman about all of the gyrations and markets. averages are now higher. this is not an outcome that would have been easy to predict at midnight. we sought futures at the lowest in the session. s&p futures down as much as 107 points at the low and now s&p 500 index cash open four points. andave seen traders investors take a step back and figure out what a trump presidency means for the economy and markets. we had to couple started just coming out today and keeping the target for the end of the year. over at goldman sachs, keeping at 2100 target which is below where it is now for the year-end s&p 500. keeping his target by 100 points and saying stocks can still
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rally. even though stocks are higher, not seeing much change. if you look at the imap, huge swing in the individual group in the s&p 500. health care is upfinancials up . down they percent as we are seeing some very interesting moves in the treasury market. gold prices higher this morning. we are seeing inflation hedge action and a hunger for safety. gold is coming down and only higher by about 7/10 -- .7 of 1%. minors are hanging on to gains. and steelmakers seeing a big rally today and analyst at jeffrey said u.s. steel stands out as the unique fishery of trump presidency because of infrastructure spending. watching the u.s. dollar, which has been relatively well.
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rising to highs in the session, a basket of currencies up 1.2%. perhaps most interestingly, we are seeing a widening of the yield curve today. here's the spread between the two year-end thirty-year. you see this big cap in that and , -- gap in that and widening biggest we have seen since 2000 nine. this is a reflection of the two year yield falling on perceptions that the fed is less likely to raise rates in december, on the short end of the curve. on the 30 year, the big increase in yield on the perception that we will see more spending from the trump administration, as well as potentially more inflation. really interesting movement in the treasury market on heavy volume. mark: we are 90 minutes away from the end of the historic trading session. a lot of functions to really the entirend capture
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movement across global markets. look at the left column. the complete slip in the performance of european equities, rising now, the stoxx 600 earlier down as much as 2.4% and now up five .75 of 1%, led by health care, miners, infrastructure, and look at the second column, all the currencies falling against the dollar. i want to look at the euro, the kroner and a prank. this is where investors are putting their money overnight when it looked like trump would emerge victorious. at that stage, all those three currencies were over 2% higher against the dollar and they are now trading lower. yields are market, falling, the likes of germany, france, netherlands, and we have seen yields in the periphery, spain and greece rising. those are your credit defaults and those are your commodities. if you think this is up brexit
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top events, look no further than this chart. the blue bar is the month leading up to brexit. for the euro stoxx 50, the gauge of the biggest carpet allies company, and the white bar is the month leading up to today's election results. as you can see, after brexit on june 24, we saw an eight .6% fall -- a .6% fall in the euro stocks 50, the most on that good. look at the euro stoxx 50, down american -- 1/5 of 1%. this is not the brexit-type event. what about the euro and the pesto? -- peso? is falling against all 150 currencies on the bloomberg today. we would look at the euro against the peso because it has peso, up byt the
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8.5%, same as the dollar and i'd is the italy, germany 10 year spread, which was widened by the most in two years. the elections are not over. all the referendums, looking ahead to be a time referendum in one month time. it does not end today. vonnie: later, we will be hearing from hillary clinton at 10:30 eastern. she is expected to address her supporters at the helton. we will bring that to you live. 11:15, we expect house speaker paul ryan to speak. let's go to bloomberg's david gura, joined by former house majority leader, eric cantor. carol: t library -- david: thank you very much. trump when hed assumes the presidency, how does he translate that into policy? eric: i think it was telling what peter thiel said that somehow the press was taking everything donald trump said literally and not seriously. the voters are the opposite.
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they took everything he said seriously and not literally. i think that is what to expect in terms of a president from and working with congress. he is going to be about clothes, tax reform, -- gloats, tax or form, regulatory reduction to get rid of the regulatory cloak on business to see growth again. i think that is the direction we will have. david: you caught a glimpse of this in 2014, are we seeing this play? eric: i is not a stranger to surprises. , so think that what you saw i think this one clearly cut most people by surprise. i would say my partner was here, bloomberg, and they predicted trump would win a month ago. i was a skeptic. now hasthat the country an opportunity to come together. i think donald trump will prove to be a pragmatist.
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working with my former colleagues, there are a lot of plans that were laid out and that would come to fruition. this experience modern washington anymore? eric: -- matter in washington anymore? eric: i think it is a people town and ability to work with people matters. i think political sensitivity for sure, but that is something donald trump brendan gaughan and said, we just have got to give back to what people are about in this country and we have got to give them optimism going forward. the campaign was tapping into the anger. now, what we need to see his play to what is the execution to get to that more optimistic growth-oriented future. david: when donald trump took the podium around 3:00 in the morning, what are you going to be listening for in the intro before he is inaugurated in january?
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eric: everyone's reaction was that he was gracious and conciliatory and different from a lot of people gary d, negativity around the campaign. and what theyople expected and there was negativity around the campaign. if going to start with obamacare appeal? -- repeal? there is a lot of emphasis. is he going to start with infrastructure bid? how will he balance that with those of us who believe we have got to watch the deficit and you cannot go on a spending spree? david: leading up to the election and the conversations within the republican party, looking at what happened last night, are you seeing a cohesive republican party that has evolved into the shape with donald trump at the helm? eric: the lessons i take from a trump victory is that the party
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has not addressed what has been plaguing so many people in the country that have been left out. i am one who believes in pro-free trade policies. frankly, there is a downside. i think donald trump says there is a downside, need to go help folks. what are the conservative policies to do that? that is what evolves so that everyone in america can be lifted up. david: there are calls from fiscal policy from central bankers and you have trump saying he will push forward. i believe this will -- i can imagine this will push to more conflict. eric: fiscal discipline in terms of regulatory reform and in terms of cost savings, those things must be coupled with tax reform in order to bring about an infrastructure package, so there is a lot on the line here for the first days pressure. the democratic party is not just going to lay down and go away.
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they have elizabeth warren and bernie sanders, who i believe will be the new leaders of their party. that does not bode well, in my opinion, for the pro growth oriented democrats, who want to the economywth in for all. we will see how that plays out. david: you are in the financial services sector. what does it mean for -- what does this presidency made for that sector? in a i think anyone regulated industry, or the financial services, pharmaceuticals, perhaps the energy industry, i think they are listening to what trump has at this point, then he'll put more moratorium in dysregulation and also ask for a total overhaul of regulations in washington. i think he said for every new regulation, there have to be to that go away. i think that speaks well for investors, deals, people looking to grow, and i think we will be
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the new era, where growth is a priority david:. looser restrictions on credit, perhaps? eric: we will have to see what happens. i hope we see in environmental where lenders, investors are going to undertake risk. we will have to watch elizabeth warren on that front because she has carved out a niche when she focuses on financial services. watch what the trump cabinet picks and when his agency picks and what they are because that will tell us what the regulatory atmosphere will be. david: thank you very much. back to you. vonnie: thanks for bringing us that wonderful interview. what donald trump selection means to the bond market. let's turn to build from newport each, california. a big shift in the bond market.
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let's put these questions to bill gross. bill gross, american citizen, investor,resume, philanthropist, what did you think when you saw the results? bill: i was having a doctors appointment. after i finished, i was driving home and was stunned by the reversal of the last hour. it was not expected to happen. i was not stand necessarily because of the implications d by therward -- stunne implications going forward but we would just have to see what are postedolicies in pre-election and how they come together. erik: what message is the market sending with prices where they are now? we have seen an enormous reversal and stocks.
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dow futures were also make hundred points. some moments that happened overnight. the dollar was weaker. the dollar i believe is higher and stocks are flat. hill: -- the message of the people via the election, i think that b, brexit with the capital b, b in terms of capitalism versus globalization. we saw that in minnesota and the rest of the states that sort of were neglected before the election by both parties. i also think that because of the triple play by trump and itcutives in congress, that was not free hand, but they have a chance to have policies that are corporate friendly, we
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are talking about corporate tax refund and that would favor corporations and profits. it is hard to believe the specifics of it, but it looks .ike corporations will benefit individuals will not, but in terms of policy, the people voted that there is the need to stimulate growth in order to increase real wages. i am skeptical as to whether trump and hillary could have done that. erik: with the treasuries selling off and the yield curve steepening, how is that affecting your portfolio in the constraint fund? janus constrained and fall to the sales at wide levels for interest rates and so far, so good. there was a risk posture,
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looking for the stock market to go down a little bit and for high-yield bonds to widen in terms of spread and what is happening this morning. i have not seen the specific us isr, but i think jan doing well. i think it has been risk off and currency negative, dollar positive. their day onto see thursday and friday in hot winds on. it was up, down, and perhaps it will go up again. of then the short end curve, does it make sense that his firm and with the expectation it appears that the fed is going to have to move more slowly now that donald trump is the president? on the long end, how far do tens
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and 30's have to sell off before bill gross gets interested? bill: that's a good questions. it depends to some extent that to someellen -- extent about janet yellen, and -- i think yellen has the so much that given relative stability, the go-ahead in december. if markets tanked by 5% to 10%, there is not much chance of short rates going up. thatrms of tens and 30's, steep and significantly today. on one end because of potential deficits spending by the new administration, but i would be cautious there because as i mentioned before, it is a global
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marketplace and there are other central banks and the japanese central bank basically has to their own 10 year at zero basis points, and it is close to that level now. japanese investors can sell their jgb's and by currencies, and a decent spread is now around 40 or 45 basis points. has a year in the u.s. lid, so to speak, and i think it is around 2%. anything better than 2% is enticing that they will move out of terms -- move into treasuries and out of german booms. at 278 on the 30. are they cheap enough for you? or does bill gross wait? : i want to see how the day ends. not necessarily have the week
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ends. 2%.ntioned that think 2% on the 10 year isld and 0% on a jgb historically close to the widespread. isn't justified under these circumstances? perhaps -- is a justified under these circumstances? perhaps. i think the value would be around 2% but yes, i would be a buyer duration, the buyer of the tenure, not the 30 year, but the 10 year because it is typed in closer to the curve. wouldn't hope for lower rates at some point coming forward. erik: what do think the market is pricing into longer yields? inflation? and is at the 4% gdp growth than 25 million added jobs that donald is promised or something less than that? was it the expectation we are going to see additional supply for the market with deficit
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spending? supposedly, that goes together, deficit spending and not necessarily. erik: maybe not coincidentally. bill: [laughter] no, but i do think there is a fear in the long end that inflation and growth and sometimes they go together. they usually go together, and it higher,ce longer rates even in the face of a very cautious that. cautiouse're -- a very fed. athink we're approaching point with the curve is not steepen very much, simply we have questions to how much deficit spending. the biggest question is whether the measures are regulatory, tax related, or are really make a difference in terms of u.s.
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growth? the structural arguments still hold sway and in terms of demographics and the lovering and technology displaced in labor, etc., etc., it is not necessarily a slamdunk despite the fact that republicans have all threhouses. : let's consider demographics and structural obstacles. can you envision a scenario, all of those things considered in which the economy grows 4% a year and in which we add 25 million jobs over who knows what time? bil: note -- that is the objective of the trump administration, they are bound to fail. growth is stunted for a number of reasons, just mention them in terms of structural, and for the reason
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that basically are old economist friend has not been mentioned in a number of years. it is all something really that is infrastructure. confined spending is to infrastructure, then there's not much to be had in terms of growth. i would still stick to the 1% to 2% appropriate that the imf and others are suggesting for the u.s. i do not think the term victory will really do much -- tromp victory will really do much in terms of policies. erik: one of the places we might change, it ispate high-yield bonds, sector by sector and today we see spreads widening in health care. place that kind of you and the constraint fund will
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be processing. -- processing? is a sectork there in terms of obamacare and corporations. the attack on obamacare and republicans continues to attack on obamacare and that suggest there would be substantial in the entire program going forward. i would say that the former as opposed to the latter, that would take time, but health care is on the chopping block in ands of corporate spread corporate quality, so that would be the first place i would look. in terms of other corporate sectors, it would be a positive, so i the for the defense and corporate bonds that are high-quality but no down euro spread because of the defensive
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seed as a trump initiative. erik: what about emerging and sovereign spreads given what president-elect has said about trade policy? peso is beingcan picked up on. it is sort of the best of the emerging markets and i have seen so go down about 4% to 5%, about 20, and their bond market is going down in terms of price. i think it is attractive but it is a question of when to jump in. yieldstance, the mexican 3.06% versus the u.s. tenure tip but 20 basis points. year tip at 20 basis points. mexican inflation
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is going to be higher than the u.s., so there have to be selective markets. emerging market countries suffered over night and this morning because of the trump , developed countries and currencies are suffering mildly. it would be for a short while the downward, positive type of move on both ends. that perhaps is something that janus would choose to take advantage of over the next few days. erik: i appreciate you taking time to spend with us, the day after in a store result. that is bill gross of janus capital. vonnie: thank you for that interview, wide-ranging. you will hear that interview throughout the day. let's take a look at u.s. markets now. the dow down by .1 of 1%. it has crawled all the way back from a big drop last night in
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the wee hours, when the votes are coming in. s&p 500 index down, 2131. index down .6 of the vix has gone down to under 17. it had crossed the 20 mark last night and the 10 year yield is that 1.96%. bill gross said there was a lid on the 10 year or would become too attractive to outside investors. and 111 basisad points right now. a look at the dollar index. slightly positive, but .41% above 98. the yen at 104.4 d. it was a low 102 last night. let's take a look at the euro. 109.65. continue to keep an i on
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market movements. as you see, things calming in the early hours in the u.s. session. a reminder, we are waiting for hillary clinton to speak about in five minutes to her supporters that the clinton hotel, which was headquarters to the clinton campaign during the election and voting process. paul ryan speaker of the house is expected to speak at 11:15. president obama is expected to speak at 12:15. you are watching bloomberg. ♪
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vonnie: live from bloomberg world headquarters. i'm vonnie quinn. mark: i am mark barton. this is "bloomberg markets."
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let's get the first word news. erik johnson is an the news room. thanks. president obama has congratulated donald trump on his victory in yesterday's presidential election and has invited him to the white house tomorrow. they will discuss the transition of power. mr. obama will discuss the election results at 12:15 eastern with hillary clinton scheduled to address the nation momentarily. heads of state from around the world are congratulating u.s. president-elect trump. among them, theresa may. theresa may: i congratulate elected asp on being the next president of the united states. britain and united states will remain as partners on trade, security and defense. we have a long-standing and injuring special relationship, which is built on shared values of freedom of democracy and enterprise. vladimir putin has also
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sent his congratulations to trump. he said he hopes the u.s. and russia can have better relations. seven states have passed measures that legalize marijuana in some form. california, massachusetts, and nevada approved recreational use of the drug. voters in florida, north dakota and arkansas ok'd medical marijuana, while montana loosened restrictions on an existing medical marijuana law. hasippine president approved joint military exercise with u.s. forces. the number of drills will be reduced and exclude mock assaults. the governments will also go 2014 defenseh agreement that commits u.s. forces to be station temporarily at five designated philippine military camps. global news 24 hours a day powered by more than 2600 journalists and publicists in 120 countries.
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i am eric johnson and this is bloomberg. mark? mark: let's get over to julia new york for a look at the ground in early trading. julie: i also want to talk about oil inventories. the most escaped our notice with election day but oil inventories breaking in the past few moments. 2.4 million barrels. take a look at oil on my bloomberg here. .ome 2.4 barrels there is a drawdown and gasoline inventories of 2.8 million barrels larger than estimated -- the select and about 9.1 we're not seeing much reaction. people are trying to figureut what to make of this postelection environment. bad is superseding inventories for now. we do tend to see a delayed reaction, so we will update you on that as the morning goes on. getting back to the groups being hit on the day after the
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election. chipmakers trading lower. down.logy brought the is some of the chipmakers down in particular. look suck it could be tied to concerns about the u.s. doing business abroad -- looks like it could beat tied to concerns about the u.s. doing business abroad. the transpacific region, if reducing rhetoric he debt between china, as one example, they may be concerned about how this affects the company and businesses. we are looking at renewable energy today on concern that a donald trump presidency would mean fewer subsidies for these kinds of companies and a less friendly policy in general. first, solar, son power, tesla all seeing a slump today. power the largest of them. and the double whammy, many of the hospital operators are lower today on concern about what a
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repeal of the affordable care act would meet for the company's also, we are seeing investment trusts be hit as there is an increase in the longer end of the yield curve. all lower at the moment. vonnie: also, we are seeing youstment trusts be julie hymak for that. hillary clinton expected to speak any minute from the new yorker hotel in manhattan. she has left where she was staying. losing theer presidency to donald trump. she will address supporters at the new yorker hotel in a few minutes. while he waits, i want to bring in the white house editor of bloomberg alex wayne. was there and restoration of donald trump or was this a nominee on the democratic side that was not up to par? out of leftame field. the polls were dramatically wrong. they were a couple that everybody sort of dismissed during the campaign the now look a lot more accurate than they did at the time, but it is also
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a failure by hillary clinton and the obama restriction, obviously. -- administration, obviously. she committed the original sin in deciding to establish private e-mail several secretary of state. that daughter to the campaign. i do not think voters forgive dogged her-- that during the campaign and i do not think voters forgive her for it. vonnie: it seems voters are not willing to forgive a politician but willing to forgive and on politician. we never found out donald trump's tax returns. calix: i think selection illustrated it is a lot less forgivable to do something -- commit the same in public office then as a private citizen. donald trump, voters were able to look on a matter of no behavior by donald trump and his private life. now, he faces the test of being a public servant then being held accountable for his actions in office. mark: in office, in his first
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100 days, the key timeframe, what are his priorities? alex: last night, he abandoned all the stuff he talked about on campaign trail, building a wall, the mexican border, limiting immigration, producing syrian refugees, cutting taxes. instead, he talked about his deed,tructure plan, a big democratic style jobs plan. he said he will spend what sounds like billions of dollars to rebuild roads, bridges, hospitals, schools and put millions of people to work. that is almost exactly what hillary clinton had planned to do where she elected president. mark: if you bid all your pre-election pledges, especially deemed as unpopular, how about go down with the electorate that actually put them in office? alex: he is accountable to them now. i think he has to make some kind of effort to build a wall on the mexican border, for example.
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he has to make some effort to limit immigration from muslim countries. whether those things are willssful or not, i think be one of the factors he is judged on should he run for reelection. vonnie: interestingly, exit polls showed the economy and jobs were what were on top of voters minds and not what we were thinking might be, like for example, immigration thread is that white donald trump is changing his rhetoric -- immigration. is that why donald trump is changing his rhetoric?alex: it could be. the east coast media and in washington have been out of touch with what has been going on in middle america. we looked at these jobs reports over the last few years and thought everybody is getting jobs again, everything is good. we sort of minimized the slow growth in wages and what was happening is that people are getting jobs that they had lost their homes. vonnie: is that fair, alex?
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the largest in the crowded platform, and we have been ignoring the fact that there has been hollowing out of the middle class and wage inflation has been nonexistent until recently. is it fair to say that was failing on the democratic campaign? alex: i think it was a little bit. bernie sanders ran on the message you describe that things are really not as good that the administration makes it out to be. he lost in the primaries. during the general election, president barack obama, when he campaigned on hillary clinton's behalf, always led off is speech by ticking off the list of accomplishments, including job growth and gdp growth. he tried to tell people that the ionomy was doing great area think, obviously, a lot of people in middle america did not believe him. they think something else is happening. gop: to what extent do
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representatives and senators go trump-- oew trop -- owe the success of the republican party in the senate and house and to what effect will that affect donald trump's ability to do business in the party that is still divided and that we know did not wholeheartedly supported during the campaign? alex: i think president-elect trump had considerable coattails in this election. in pennsylvania, to me probably does not win reelection to the senate unless president trump wins. wisconsin, senator ron johnson may be does not win reelection of the senate unless trump wins, so people in the senate bill him a debt -- owe him a debt. there are some republicans are cash disallowed
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him. in nebraska is a good example. he may have trouble getting his agenda through the senate because it is divided between republicans and democrats and there is a faction of republicans who are not beholden to him. vonnie: is this what paul ryan wanted? alex: [laughter] that is a great question. paul ryan played this game where he endorsed him and then he almost endorsed him and 28 end of the campaign, he got back on board with trump. there is still a question whether pauline will be speaker in the next congress. as pauline have to pay a price for his -- whether paul ryan will be speaker in the next congress. alright will have to pay a price for not getting wholeheartedly behind. -- paul ryan will have to pay a price for not getting wholeheartedly behind. vonnie: alex has been covering it from the start and will continue to cover it in washington, d.c. he is our white house
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correspondent and we thank him for joining us. you're looking at live pictures of the new yorker hotel where hillary clinton is you to speak shortly. she has left the peninsula hotel . having lost the presidential election to donald trump, who just walked down the hilton hotel, she was due to address supporters at 10:30 eastern and we are waiting for that. we will bring those comments to you live. at 11:15 eastern, we expect house speaker paul ryan to speak and then at 12:15 eastern, we will bring you president obama with his remarks live. still ahead, a record low. we mostly to our bureau chief in mexico about what the donald trump presidency means for the nation. there it is, the peso-dollar up to 9% today. this is uber.
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♪ -- this is bloomberg. ♪
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mark: let's get to abigail doolittle looking at markets. abigail? abigail: it is amazing. the major averages trading modestly lower, the next trading, but market watchers were looking for a massive -style selloff. it will be interesting to see whether those comparisons between the election and brexit or more in tape and we will do this through asset classes. 4860 two, these are the safe havens. in yellow, gold, and wife, they in whites, the-
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yen-dollar. into the election, we have the safety trading off and when you take a look at equity, we have the s&p 500 over the last year doing something pretty interesting, which is the fact that they're are pulling up this chart right here, a nice uptrend and into the brexit, a rebound action and into the election, a rebound action as well. we have the selloff and then rallied higher. ,nterestingly about the brexit it strengthened the uptrend, but this book ahead of the election. this geared is, was around election as investors sought safety in the situation? when we take a look at bonds and 4864, the answer is probably that the election is overshadowed by the fed and this is the 10 year yields over the
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last year. we see a slight safety in the 10 year yield with trading down higher intoxit but the of action, perhaps as investors are more focused on the fed and the potential for a rate hike this year. vonnie: all right. mark: fantastic job. vonnie: thanks. the peso tumbling to the record after donald trump won the presidency. more on what his victory means for mexico, i want to bring in carlos rodriguez. en general, what will that reaction of the mexican people be to president-elect donald trump? carlos: similar to the u.s., and for factors of the mexican economy, it would go from bad to worse. as you can remember, it is not only about trade, but also about the ability of having taxes for
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remittances. it is only the fear that the remittances can go directly to mexico got become some kind of supervision or tax. secondly, in the u.s., emigrants theot send as much money in past, which were important for the mexican economy. vonnie: the president did you doubt that he is looking forward to working with donald trump. could that be possible? donald trump insisted that they will have a wonderful relationship. carlos: the mexican president was very criticized when he welcomed donald trp a few weeks ago. as you may remember, those images of president of mexico were used by the trump campaign. maybe now, they will be used as points of favor so we can have a better dialogue with the administration. mark: the contentious pledge by trump to build the wall,
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dismantle nafta, push out wargrants, unite a trade with mexico, how much will actually be pushed through? carlos: many people in mexico have this in question as many americans. how is he going to really do that? talking about the wall that goes along the u.s.-mexico border for practical terms is almost impossible. it is not fully possible. and then really, really expensive, so we will have to see how he plans to commit those measures. the one about deporting more people is very hard when you see who tried to some run. how can you really do that and sent by people to the actual countries where they are from because not all of them are from mexico? it turns to logistical impossibilities that will be really hard to materialize. passing theso
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lightning rod of trump's chances and it is plunging today, following against every currency in the world. if you look at that auction. what can policymakers do in mexico to stem the volatility? carlos: they have suffered losses. we saw some of them the used earlier this year after brexit. used as a hedge against anything for emerging markets, given the liquidity of the currency, we will see how investors bet against the peso and how to protect themselves against this race. we held a press conference very early and decided not to intervene or do anything. the central bank is going to have been ordinary meeting and they may decide to increase interest rates by then. so far, they did not take any special measures and in has not extended the losses that we saw later. vone: trading below 20.
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i want to remind people that the finance ministry has said that it would be like pouring drops of water into the ocean as the bank of mexico -- if the bank of mexico intervened. as carlos said, it may not. much more ahead on bloomberg. ♪
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you are watching bloomberg. i am vonnie quinn. bartonb.m mark this isa your global business report. bayer had reason to sell the radiologist business. they are focusing on prescription drug business. vonnie: luxury pole maker match rivals that reported better-than-expected results. mark: raising the 2016 organic
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operating project in eastern europe. the expectation. bayer's pharmaceutical chief said there is no reason to sell the radiology business. is exploring the potential sale of the unit, which could be worth more than $4 billion. first prophet that met expectations. the luxury goods maker was heard by weaker demand in asia and burberry says they are on track to meet the financial goals for the year. 7%.t time revenue rose benefiting from orders and international markets. the man's weekend at home but the french government has agreed to order 15 high-speed trains that it will not need for several years. carlsberg is raising earnings forecast for the year. they say sales in eastern europe beat expectations thanks to a
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rebound in russia. the company forecast profits to rise about 5%. vonnie: time for our bloomberg quick take, or we provide background on issues of interest rate elon musk is known for ambitious ideas and big stumbles . he is admired and idolized in silicon valley. some are starting to wonder if he has taken on too much. here's the situation. runs under elon musk faces challenges. in may, the car in autopilot mode crashed and died. and struggling to manufacture cars at expected rates. the proposal for tesla has faced cynicism and from shareholders but is moving to stakeholders. an spacex suffered a mysterious rocket explosion on the launchpad in september and that is what has put that companies
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featuring a precarious situation. elon muskuth africa, moved to canada at 17 before attending the university of pennsylvania. he founded the company in 1990's that merged to form paypal, which was sold to ebay. went into new ventures and after a few rough years, there was success. in 2012, tesla produced the model s, a high-profile -- a sedan that was possibly the best car ever built. sober city went public. here is the argument, they are less tired than those he faced in 2000 eight, but tesla, spacex and sober city are no longer experiments. of jobse put thousands and billions of dollars at risk. on technological merits, his companies have already changed the world. the extent that the electric car is a commercial reality is
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largely thanks to tesla. you can read more about a quick takes on bloomberg. that is your global business report. had to for more stories. -- head to for more stories. isk: from new york, this after losing the presidential race the donald trump, we will 's speechlary clinton live. the motorcade is moving. we will bring you her concession speech live on bloomberg television. next performance of u.s. shares on this historay, the day that donald trump was confirmed the victor in the election. an election that went over one year or two and many will be looking for the 100 days of the donald trump presidency went inaugurated in january. this is bloomberg. ♪
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york, 4:00 in new p.m. in london. i am mark barton. november night,
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post election, i am vonnie quinn. close ofuropean bloomberg markets. we are live in brussels and moscow this hour. hillary clinton has left from her place to speak to her supporters. let's look at how things are favoring in europe. mark: 30 minutes until the end of the wednesday session, the stoxx 600 was down 2.4%, the biggest fall since june 27. look at the rebound up by 8/10 of 1%, led by basic resources, construction, and health-care stocks. drilling down into the health care performance, 3.9%, that is the gain we are seeing. these are the big gainers in


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