With rising wages, right here in the United States. For my first day in office until my last, as you surely in places that for too long have been left out and left behind, from my desk from the inner cities to the small towns, from Indian Country to coal country. Bym communities ravaged addiction, two regions hollowed regions to hollowed out by i believe our economy is not working the way that it should because our democracy is not working the way that it should. That is why we need to a point so pray in Court Justices who will get money out of politics and expand voting rights, not restrict them. Necessary, we will pass a constitutional amendment to. Erturn Citizens United american corporations that have gotten so much from our country, should be just as patriotic in return. Many of them are. Too many of them are not. It is wrong to take tax breaks with one hand and give out pink slips with the other. Street canve wall never, ever be allowed to wreck main street again. And, i believe in science. I believe Climate Change is real. Save our planet while creating millions of good paying, clean energy jobs. We havee that when millions of hardworking immigrants contributing to our economy, it would be selfdefeating and inhumane to try to kick them out. Comprehensive Immigration Reform will grow our economy and keep families together. And it is the right thing to do. So, whatever party you belong to or if you belong to no party at all, if you share these beliefs, this is your campaign. If you believe that companies should share profit, not pad executive bonuses, join us. If you believe the minimum wage should be a living wage and no one working fulltime should have to raise their children in poverty, join us. If you believe that every man, woman, and child in america has the right to Affordable Health care, join us. If you believe that we should to unfair trade deals, that we should stand up to china, that we should support auto workers,ers, and homegrown manufacturers, then join us. Believe we should expand Social Security and protect a womans right to make her own health care decision, then join us. And yes, yes if you believe,hat you are a working mother wife, sister, or daughter, us. Rves equal pay, join that is how we are going to make sure this economy works for everyone, not just those at the top. Hear any of not this from donald trump at his convention . 70 odd minutes, and odd and he offered zero solutions. But we are ready know that he does not believe these things. No wonder he does not like talking about his plans. You may have noticed that i love talking about mine. 100 days, we will work with both parties to pass the biggest investment in new, good paying jobs since world war ii. Jobs in manufacturing. Clean energy. Technology and innovation. Small business and if her structure. If we invest in infrastructure now, we will not only create jobs today but lay the foundation for jobs in the future. We will also transform the way that we prepare our young people for those jobs. Bernie sanders and i will Work Together to make College Tuition free for the middle class and debtfree for all. We will also liberate millions of people who are ready have student debt. It is just not right that donald trump and ignore his debts and students and finance students and families cannot refinance their debt. And something we do not say sure, college is crucial that a four year degree should not be the only path to a good job. We will help more people learn a skill or practice a trade and make a good living doing it. We will give Small Businesses like my dads a boost. Make it easier to get credit. Way toomany banks many dreams die in the parking lot of banks. In america, if you can dream it, you should be able to build it. We will help you balance family and work. You know what . If fighting for affordable childcare and paid family leave is paying playing the womans card then, deal me in. [applause] now, here is the other thing going to makey all of these investments, we are going to pay for every single one of them. And here is how. Wall street, corporations, and the superrich will start to pay their fair share of taxes. This is not because we resent success. But when more than 90 of the game has gone to the top 1 , that is where the money is and we are going to follow the money. And if Companies Take tax breaks overseas, wet jobs will make them pay us back and we will put that money to work where is the where it belongs creating jobs here at home. That some of you are sitting at home thinking that all sounds pretty good. But how will you get it done . How are you going to break through the gridlock in washington . Look at my record. I have worked across the il. S. Pass across the aisle to launch new programs that have helped millions of people. If you give me the chance, that is exactly what i will do as president. I also imagine people are thinking out there but donald trump he is a businessman. He must know something about the economy. Well, let us take a closer look, shall we . In atlantic city, 60 miles from contractorsll find and Small Businesses who lost everything because donald trump refused to pay his bills. Now, remember what the president said last night dont boo, botvote people whof this did the work and needed the money, not because he could not pay them, but because he would not pay them. Them. T stiffed and you know that sales pitch he is making to be president put your faith in him and you will win big. That is the same sales pitch he made to all of those Small Businesses and then donald trump walked away and left working People Holding the bag. Game aboutks a big putting America First. Please explain what part of America First leads him to make donald trump furniture in turkey and not in ohio. Donald trump picture frames in india and not wisconsin. Donald trump says he wants to make America Great again. Well, he should start by actually making things in america again. Now, the choice we face in this stark when just as it comes to our national security. Hillary]int mrs. Clinton anyone reading the news can read the turbulence we face, from San Bernardino to orlando. We are dealing with determined enemies that must be to feed it. Must be defeated. So it is no wonder that people are anxious and looking for steady leadership. Wanting a leader that understands that we are stronger when we work with our allies around the world and care for our veterans here at home. Nation safe and honoring the people who do that work will be my highest priority. I am proud that we have put a lid on Irans Nuclear program without firing a single shot. Now, we have got to enforce it and we must keep supporting israels security. We share athat Global Climate agreement. We have to hold every country accountable to their commitment including ourselves. Stand by ourd to allies in nato against any threat they face including from russia. I have laid out my strategy or defeating isis we will strike their sanctuaries around the air and support local forces taking them out on the ground. We will surge our intelligence until we can detect and prevent attacks before they happen. It will not be easy or quick. But make no mistake we will prevail. Trump says and this is a quote i know more about isis than the generals do. Not. Onald you do [applause] [cheering] thinks he knows more than our military because he claimed our armed forces are a disaster. Well, i have had the privilege of working closely with our troops and veterans for many years including as a senator on the Armed Forces Committee and i know how wrong he is. Our military is a national treasure. We entrust with our commander in chief to make the hardest decisions our nation faces. Decisions about war and peace, life and death. Ever president should respect the men and women who risk their lives to defend our country. Including captain thomas and the sons of tim kaine. Self, do youour really think donald trump has the temperament to be commander in chief . Donald trump cannot even handle the rough and tumble of a president ial campaign. Theoses his cool at slightest a provocation. When he gets a tough question from a reporter. When he is challenged in a debate. At ahe sees a protester rally. Imagine if you dare imagine him in the oval Office Facing a real crisis. Bait with an tweet is not a man we can trust with nuclear weapons. I cannot put it any better than Jackie Kennedy did after the cuban missile crisis. She said what worried president kennedy during that very warerous time was that a might be started, not by men with selfcontrol and constraint restraint, but by the middle men, those moved by fear and pride. Strength does not come from lashing out. Smarts, judgment, cool resolve, and the prep of the precise application Strategic Power and that is the kind of commander in chief i pledge to be. And if it we are serious about keeping our countrys safe, we also cannot afford to have a president who is in the pocket of the gun lobby. I am not here to repeal the second amendment. I am not here to take away your guns. I just do not want you to be shot by someone who should not have a gun in the first place. We will work tirelessly with responsible gun owners to pass commonsense reforms and keep runs out of the hands of criminals, terrorists, and all others that would do us harm. For decades, people have said this issue is too hard to solve and the politics too hot to touch. But i ask you how can we just stand by and do nothing . Seenave heard, you have family members of People Killed by gun violence on this stage. You heard, you saw family members of Police Officers killed in the line of duty byause they were outgunned criminals. I refuse to believe that we cannot find Common Ground here. We have to heal the divides in our country. But on race,uns, immigration, and more. [applause] starts with listening. Listening to each other. Can to walk inwe each others issues. Let us put ourselves in the latinof young black and men and women who face the effect of systemic racism and made to feel that their lives are disposable. Let us put ourselves in the shoes of Police Officers kissing their kids and spouses goodbye every day, heading off to do a dangerous and necessary job. We will reform our criminal endice system from end to and rebuild trust between Law Enforcement and the communities they serve. [applause] defend all of our rights, civil rights, human rights, and voting rights. Womens rights. Workers rights. Lgbt writes. And the rights of people lgbt rights and the rights of people with disabilities. We will stand up against mean and divisive rhetoric no matter where it comes from. Year, any people have made the mistake of laughing off Donald Trumps comments. Excusing him as an entertainer just putting on a show. They thought he could not possibly mean all of the horrible things that he says. Like when he called women cakes. Or said an american judge could not be fair because of his mexican heritage. Mimics ae mocks and ororter with disabilities when he insults a hero like john mccain, a patriot that deserves our respect. At first i admit, i could not believe he meant it either. It was too hard to fathom. That someone who wants to lead our nation could say those things. Could be like that. Truth, therehe sad is no other donald trump. This is it. And in the end, it comes down to what donald trump doesnt get. Because america is good. So, i know with the bigotry and the bombastic. Donald trump is not offering real change. He is offering empty promises. What are we offering . Bold agenda to improve the lives of people across our country. To keep you safe. To get you good jobs. To get your kids the opportunities that they deserve. The choice is clear my friends. Every generation of americans has come together to make our freer, fouryear r, and stronger. When so much a pierced to be pulling us a part, it is hard to imagine how we will ever come together. But i am here to tell you tonight that progress is possible. I know. I know because i have seen it in the lives of people across america who get knocked down and get right back up. I know it from my own life. More than a few times, i have had to pick myself up and get back in the game. Like so much else in my life, i got this from my mother also she never let me back down from any challenge. When i tried to hide from a neighborhood only, she literally blocked the door. Go back out there she said. She was right. You have to stand up to bullies. You have to keep working to make things better. Are long and odds the opposition is fierce. Mother a few years ago but i miss her every day. I still hear her voice urging me to keep fighting for what is right, no matter what. That is what we need to do together as a nation. Live togh we may not help the glory as the song from the musical hamilton goes let us gladly join the fight. Let our legacy be about planting seeds in a garden you never get to see. That is why we are here. Not just in this hall but on this plant. But on this earth. Taught us that. They were drawn together by the love of country and selfless passion to bring to build Something Better for those who are to follow. That is the story of america. We begin a new chapter tonight. The world is watching what we do. Americas destiny is ours to choose. Let us be stronger to gather my fellow americans. To the future with couric and confidence. Let us build a better tomorrow for our beloved children and country. And when we do, america will be greater than ever. Thank you. And may god lest you and may god bless you and the United States of america. [applause] [cheering] from first lady lady of arkansas to first lady of the united date and then eight years and then u. S. R secretary of state. And tonight, history first woman nominee for a Major Political party. She was very clear on foreign policy. Made election promises that were detailed including and not to the supporters of Bernie Sanders, from free College Tuition to the middle class, debt free for all. And plans for jobs. Perhaps more important tough language. Define her arrival. She is just now joined onstage by her buys president ial nominee place president ial nominee, tim kaine. This is wrapping up the Democratic Convention in philadelphia. Hillary clinton has given the biggest speech of her political career. Formally accepting the nomination for president. She has said that america is facing a moment of reckoning but america is great because america is good. For us right now from the floor of the convention. You have been monitoring this from day one. This was the crucial moment. Heaven, how did it all go down kevin, how did it all go down . Hillary clinton becoming the first female nominee of a Major Political party. This is a moment that america should step back and take a moment to recognize. But the politics of this moment cannot be understated. Sheaw it to portray trump to portray donald faces anr, she electorate that is extremely frustrated with the pace of the economic recovery, that is extremely frustrated at the current institutional structure and her challenger has character has characterized her as the in body the establishment figure. The most important speech of her long, storied political career tried to offer alternatives to what donald trump has been offering. Her speechd from tonight and the introduction from her daughter trying to define Hillary Clinton as a person. To trying to reintroduce her the american people. Has the convention achieved what it tried to do . Kevin for someone that has been around politics for as long as she has been around, she still struggles with trustworthy numbers and approval ratings. We have seen this over the course of her political career. Pitches toing direct Bernie Sanders supporters, there was a somewhat large contingent of voters inside the stadium that were chanting against her candidacy. Didrly, Hillary Clinton make some overtures to the progressive base but she made independentes to and moderate voters. At one point making a direct pitch to republicans who may be uneasy with the candidacy of donald trump. Continue to campaign tomorrow in pennsylvania as well as ohio. She is turning towards the general election. This is the beginning of the general election. It will depend heavily on independent and moderate voters. The same type that have flocked to donald trump. It feels like a crescendo. That will not be reached until november. What is next . Way to go. She will hit the campaign trail. Starting in philadelphia and then ohio. She will start with a rally here in philadelphia with tim kaine. That Vice President joe pick that has left many uneasy. Donald trump will also be heading to ohio. It is game on in america for this president ial campaign. During the speech, Hillary Clinton continued the attack, very specific attacks on donald trump. He was able to characterize her in a very successful way. She may have been able to break through tonight. There were a lot of specific points in her favor. How much of the criticism and characterization of donald trump was able to resonate to the crowd as well as to the american electorate . Voterss the independent that have been very skeptical of Hillary Clinton. As aniew her establishment figure. For Hillary Clinton tonight, she continued with her attacks questioning donna trumps bona trumps own ad des. Days bona fi on the flipside, Donald Trump Campaign will say this is a nation that is hungry and thirsty for someone to break through political correctness. The battle lines could not be more clear in this 2016 campaign. Tonight again, a moment of history for Hillary Clinton in becoming the first female nominee of a Major Political party. Not something that should be taken lightly or for granted here in america. Course the american electorate chooses another storyline for the United States. Great job there. Kevin is our reporter on the floor in pennsylvania at the dnc. A moment in history. Let us get more on Hillary Clintons speech. She made some very pointed and accusations using Donald Trumps record against him and of finding it for a larger audience. What she successful . I think she was. At the moment that she said i accept. Turning point and she found her stride. She had a sense of passion that emerged that i thought was lacking in the beginning. Theought here comes agenda of programs. When she talked about women and , forssues of equal pay example, and the questions that concern women and how that is connected to the Economic Research and said of america, of america,rgence that hit a passionate note. And when she discussed the security of america she said i know what this is about. This to saying he is untrustworthy. And then she had a selfdeprecating moment that showed her human side. It was interesting politically that her campaign had Chelsea Clinton at times very flowery describing her mother. Very sweet. But often wondered where is this going . Ultimately, what it ended up creating was let everyone else talk about the softness and the warmth and the humanity of Hillary Clinton, which she is accused of not being. And there she is. And for the first woman candidate for presidency, this question of striking the strength and the compassion, i think she did a pretty good job of that. Did she make a mistake of not addressing the female controversy . In this speech, no. The russian connection is still working out. The more connection she makes is not to her advantage. They are looking beyond this. E. Not to ber defensive about that issue. Senseeed to project the of where the country is going and how her personal biography as a woman and as a mother is going to translate into her presidency. Speechple get from this and image of how she would be as president and where she would take the country . These are the things she needs to talk about. She does not want to get trapped into defending herself. Here is the problem for the democrats. They are shirking this branding of america is in trouble. This is a donald trump part this is a donald trump platform. , most americans do feel that way. They do feel disengaged from the economic picture. They do feel disengaged about safety in the streets. They are seeing it play out in their own neighborhoods. What do you do about that anxiety . And she says connect better. Support police. Divisive. If we Work Together as communities this could be soft but what do people at the local level have to work with . It depends on who is listening. If you are a police man, and you say you are watching the media is this their direct experience or is this an image coming in from the media to say the world is in great disarray but their own lives are ok. In themedia is often center being characterized on both sides. We are living in this global world where the media brings us events from around the world. How many shootings have there been today . Point. Etting to a shrill donald trump is seizing on that. An increase inen terrorist threats, attacks. We have seen it in europe increasingly. It is not just in america. Youre seeing it in the philippines you are seeing him play out with brexit. Piece ofreign policy her speech i thought was quite strong in terms of working with other countries and what does donald trump know about isis . Is she ist he characterizing donald trump as making it up as he goes. She is saying that she understands the Political Security structures and the army and the military and we need to respect them. These are the systems that need to work in order to counter these threats. Did she resonate tonight . A i do think there will be bounce. She is coming on top of some tremendous speeches in days past. At first i thought she was going to just repeat recapitulate those. But then she got her stride. She felt her passion. And that was communicated to a lot of people. I think it is in a sense a more positive image for her. There have been two bounces. There has been a bounce from the cleveland event. How that canical be. In this case, for the next several days, there will be momentum coming out of this that , especially seize as she goes to the swing states. Until the next issue. It will be interesting to watch the first lady of the United States become potus for the first time in america. This idea is catching on. She is a woman. She could be president. It it in that moment is becoming plausible. It really could happen. Just like it happened with president obama eight years ago. You mean that could really happen . A black man becoming president . In the moment, it is powerful. Really good to have you. Has itsp next, the fed turn in the spotlight. And now it is time for the boj to make the call. Does governor kuroda have a surprise . This is bloomberg. s surprise, perhaps not a surprise. Breaking news from the boj. The bank of japan will be taking additional action as widely expected by the markets. They had decided to conduct more easing. Take a look at the details. The negativet into rate for the reserves. Doing is will be establish a new facility to lend japanese government securities. They will be adding more stimulus if needed. Take a look at what else is coming through. Governor kuroda has ordered the assessment of policy effectiveness to take place at the next meeting. There will also be an update of the etf. This was the most widely expected way they would act to get to ¥6 trillion. Buying risk assets of etfs. We are taking a look at the reaction now. To 102. 84. Dropping after the boj announcement was made. Japanese equities continue to link earlier losses that we saw before. Further details coming through. The boj has doubled its usd lending program. They will continue purchasing jgbs . They will not be doing that. That will stay at an annual pace of 80 trillion. The risks are high for reaching the target within that timeframe. To reiterate, keeping the negative Interest Rate on those excess reserves. Upping in thean future of the 72 two keep the negative rate unchanged. Not unanimous. We have gains coming in from the japanese banks as well in light of that decision. Going to be very interesting to see if the market views this as a disappointment. This has been a highly anticipated decision. We were expecting quite a lot of activity in terms of what the boj would do. We are watching how the market will react. We are seeing the doubling down of that usd fund where it is facing no move when it comes to negative rate staying at 0. 1 . Commercial banks parked at the bank of japan. The most expected choice. Voting 72 to raise their purchases of funds. There is also some shifting when it comes to their expectations on real gdp, on inflation. Sayingalso seeing that there will be an assessment of the bojs policies. Let us get the latest from the markets. Juliette absolutely. We have seen a big spike coming through in the nikkei. It was almost at the markets new something that we didnt. At the lunch break, the japanese equity market was lower and then it came back up and had a big bike. There has been a selloff now. Some investor disappointment. Leading up to the boj announcement and then the fall coming through. Signaling that even though we are seeing additional stimulus measures announced from the bank of japan, investors were looking for fireworks and a lot more. A big market selloff. Low. E at the days investors were waiting for this decision. The big spike came through on expectations that the stimulus package would impress the market. There has been quite a lot of trigger selling going on. Look at that reaction in the yen. A 2 gain against the greenbacks. In the Similar Movement when the equity market went down, the japanese yen spiked by 2 pushing through 104. 103. 18. Asian stocks have seen volatility all this morning before the bank of japan even announced its latest policy decisions. Now we have it. You saw the reaction. Yenresting reaction in the space. And the bond yields. We have the cio here for virgin markets. He is pretty positive. Let us talk about the boj. Trillion and expansion of etf purchases . Enough . Enough . I think it is a bit of a disappointment. They were expecting kuroda to do something exceptional. Yen which would probably have reversed if people really felt the firepower. We are hardly seeing any movement in the yield space. A very interesting commitment to that 2 inflation goal. That it canating achieve the 2 inflation goal by next year. Is this believable . The market is telling you that with the yen strengthening, that is not believable. The yen strengthening is essentially the market saying that real Interest Rates in japan are higher than real Interest Rates in the u. S. Which is telling you that japan will not have a 2 inflation rate anytime soon. Angie also interesting that the boj voted 72 to raise etf purchases which means there are two discordant Monetary Policy makers out there. This was not a unanimous vote. Interesting because were those dissenting voices more hawkish . Ifobviously, we do not know they were more or less hawkish but clearly there are many people in japan who think kuroda has reached the limit of what he can do. And actually, you need to see much more fiscal expansion. And you need to see demand growing in the japanese economy rather than this attempt to weaken the yen. In the last few months, markets have been saying we do not think you can weaken the yen. Angie they have lost credibility. They have disappointed the market with this muted move with a nod towards expanding. In your experience and educated guess what do we expect in this next week out of japan . Japan is interesting because to a certain extent, it is the flipside to the rest of asia. A strong yen keeps japan in the market environment it has been in for the last several months and even several years where you will continue to see the Growth Companies do well, the strong yen beneficiaries. But i think more important is what it means to the rest of asia. Dollaryen is a weak which allows the other asian currencies to float more easily and takes the pressure off of asia. Thes very good from perspective of the rest of asia. Angie good for a lot of these emerging markets. Specifically, what can we see regionally . Start with seoul. Is that going to continue . The yenng as you see being stronger, you will see that continue. You are starting to see better sentiment. You are starting to see Companies Like samsung producing better numbers. And ultimately, korea is a huge beneficiary of a strong yen. To the extent that we see china stabilizing, global economies stabilizing, korea is a beneficiary. Angie with the fdr sdr yen how will this ripple out for the pboc . You will see a big change in. He Market Sentiment at the beginning of the year, any movement in the renminbi and the markets panicked. Urrencies have been weakening no one is really concerned. That is a big change in sentiment. Ultimately, equity markets are driven by sentiment. Threee seen in the last months particularly, a huge swing. Despite a lot of negative things happening. We have seen brexit. Continued issues and japan. Investors are saying that things are Getting Better in asia. That is a very important change. Angie will Money Managers like yourself count japan out now . You never count japan out. , we havepoint of view always thought much more in terms of stock specific. We never really believed in the the economy will change dramatically and the inflation will surge. If you look at the whole domestic consumption players. Look at companies that are growing market share. Of a theme now, ironically because of the japanese yen that you look at the tourism beneficiaries. That was last years stories but suitableward, from a pharmaceutical. We would not count it out. Do i see other opportunities elsewhere yes. Angie the chapter has not ended for japan. Give me a cliffhanger. Stimulus package. We appreciate you for coming today and being so patient with us as we broke that boj number. How our markets reacting . Disappointed is the word. You can see this big slump that came through on the nikkei when the boj announcement came through. A lot in the market had expected negative Interest Rates to be weakened further. Happened. Ot we have seen some downward pressure in stocks and upward pressure in the yen. Little biteen just a of a comeback in the last five minutes or so. Disappointment was a lot of trader out the results going through and hoping for a lot more stimulus to be coming through from the boj which did not occur. Look at this yen. It was up by 2 . It has paired act a little bit. Now, up by 1. 7 . Traders are saying that the resistance level is at about 100 to the dollar which would be the july 8 high. Looking at the yields on the 10 quarter of 1 . A on the 5year note as well in negative territory as well. Yen higher. Stocks lower. Angie disappointment. It up, it up to sum boj markets are saying that is not enough. Ofare seeing a strengthening the yen by 2 versus the dollar after the boj said it was expanding only one of its Monetary Policy tool. That is it for its noon here in hong kong. m angie with an update of the yen. Apan expanded murder chases to 58 billion. However, its maintained its negative Interest Rate and bond buying stocks have dropped on the decision. Hillary clinton has formerly accepted now the democratic president ial nomination promising to make job creation an opportunity a key focus. She describes the election as a moment of
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