Broadcasting live to New York, Bloomberg eleven Rio to Washington, d C. Bloomberg to Boston, Bloomberg twelve hundreds to San Francisco, Bloomberg nine to the countries sees Exam General one nine team, and around the globe the Bloomberg Radio Plus Athen Bloomberg dot Gone. This is taking Stock, coming up on taking stock, a look at the European Union and the risks for your portfolio. Are their models for other countries leaving the European Union and what that would do to your money?
We'll find out more. We're gonna We're gonna be speaking with Sam Juan. He's founder and managing director of Global Risk Management Advisors PAM. I wonder what he'll have to say about Bill Gross of Jane's Capital Management, saying that he is sniffing out some rather bear Stearns kind of uh vibe from what's happening UK property market. That could be a risk. Let's go to Katherine Cadry. Now, no risk there, she's in the Bloomberg news room with the
Bloomberg Business Flash. Thank you. Kathleen was stock selled down to their games after a minute of last month's federal Reserve Policy meeting, so almost all officials present indicated May's weak employment report added to economic uncertainty. Bloomberg has been adel Judas has the details of those f o MC minutes. Central bankers aired on the side of portion and holding
their benchmark interest rate steady. The labor market slowdown was chief among their concerns make job growth with the weakest in almost six years. FED officials also sought prudent to wait for the results of Britain's EU referendum, which at the time was too close to call. The Fence Policy Panel next meets July twenty seven. At the Bloomberg First Woraddest Company Dell shoot Ice, Bloomberg Radio, Bloomberg Radio and TV. Bill Grows Fund, manager of Jannis Capital Management, was asked
if anything surprised him in those FED minutes. Will not much pipe. Yes, they reach an employment uncertainties and we know that's probably because of the lower job totals. Will no more on farther loon't wait, and that's when the Labor Department will release its June jobs report. We talk the markets every fifteen minutes throughout the rating day. Del Industrial LeVert is up forty six points a quarter percent,
trading at seventeen thousand, eight hundred eighty six. SMP five funded up seven points a third of a percent at two thousand ninety five and as dat is up twenty six points. That's a gain of half a percent. It's rating at forty eight forty nine less. Texas Intermedia crude oil up sixty five cents a barrel one point four percent to forty seven twenty five s about gold up eight dollar seventy cents. Announced of thirteen sixty seven fifty ten year treasury holding study with the yield of one
point three seven percent. Among today's How Business stories, two more UK property funds have halted withdrawals in the wake of Britain's decision to leave the European Union. That brings a total number to five. And now let's get enough date of some of the other stories were following today on Bloomberg Radio. Thank you, Catherine from the Bloomberg Newsroom.
I'm Jill Schneider. HOW speaker Paul Ryan says a lot of questions still need to be answered about Hillary Clinton's use of a private email server while she was Secretary of State and the FBI investigation into it. FBI Director James Comey has been summoned to testify before the House Oversight Committee tomorrow, and the House Judiciary Panel has scheduled
hearing for next week with Attorney General Lauretta Lynch. Ryan says Clinton has offered quote, nothing but stonewalling and dishonesty on the issue and appears to have received preferential treatment from the FBI. Tennessee Republican Senator Bob Corker withdrew himself today from consideration as a possible running mate for Donald Trump. I know what I'm good at, and I feel like I'm better suited for other kinds of things, and I think they're probably better suiting people for this for them.
When asked for his opinion on who Trump should pick, Corker said, although he knows it would not be a popular opinion, he believes Trump's ex wife, Ivanka would be the right person for the job. President Obama will slow down the U. S. Troop withdrawal from Afghanistan. Instead of going down to troops by the end of this year, the United States will make saying approximately eight four hundred troops in Afghanistan into next year. Through the end of
my administration. The President also says the Taliban is still a threat. If you've been outside today, you probably don't need us to tell you, but it's a scorcher here in the city. Temperatures have topped the ninety degree mark. The intense heat is expected to last three days. Global News twenty four hours a day, powered by more than twenty six hundred journalists and analysts in more than one hundred twenty countries. From the Bloomberg News Room. I'm Jill Schneider. Katherine,
thank you. Now, let's get an update of those equity benchmarks down. Industrial leverage up forty eight points to seventeen thousand, eight hundred eighty nine. SMP five founded up seven points in two thousand ninety five, nastack higher by twenty eight points at eight fifty. And that's a Bloomberg business flash you're listening to taking start with Kathleen Hays and Pim
Fox on Bloomberg Radio. The pounds sterling plunges further, trading at one nine thirty six versus the US dollar, Japan's twenty year bond deal turns negative, and more UK property funds suspend trading. These are all risks that you need to take into consideration when managing money. Samuel Juan is the founder and the managing director of Global Risk Management Advisors.
He joins us now. Sam Juan, thanks very much for coming in and what if you could tell people what is Global Risk Management Advisors and what do you actually do who some of your customers? UM? Well, I started the firm UM right on the heels of the financial crisis to help both asset managers and institutional investors with investment risk management. And about a third of our work
is what some people who think of risk management. It is very quantitative, it is very geeky, and we try to use very sophisticated modeling and math to figure out what the risks are in your portfolio and what the potential losses are. But two thirds of the majority of the work that we do is really around good government, good processes, good controls, good strategy, because that's really at the end of the day. But what Trump's and one is the most important thing in terms of UH descending
order of what institutions do. And as I mentioned, we work with UH institutional investors such as endowments and pensions foundations, and we work with asset managers heavy concentration of alternative managers and imagine the phone ringing off the hook because people are wondering, Okay, bregsit, what do I stay away from? Where is there something I should be getting rid of quickly that I didn't already get rid of before the vote, and or is there something I should be getting ready
to leap in and buy? Where do you start with that analysis? Uh? We think it's important. So if we take an institutional industrial like a pension or a foundation or endowment, UM, those institutions are fortunate that they can take a relatively longer term view, and so we think it's very important that they stick to a plan and that plan and starts with their investment policy statement and
the risk policy guidelines. We think it does make sense to assess what impact the portfolio has had near term from Brexit as well as what it may look medium term and long term to to, you know, figure out whether there should be any strategical, strategic or tactical changes
they need to make. One thing we've been advising investors, and this applies to just retailer John Q Public as well is UM We caution that people should not overreact, especially given the fact that two thousand eight is still fresh on many people's minds, and that is we think a very important lesson learned. SAM. If there is a money manager who blames poor performance on Brexit, should you go looking for another money manager? Are there ways to
have mitigated the risk? UM. If you look at the first few days following Brittain Britain's decision to exit the EU, UH, and you look at the proverbial winners and losers, the majority of the people were, whether the professional or amateur investor losers, meaning that when all the markets are down, most people are long the market and so there's no
place for cover. The exception to that where people, of course who UH might have been UM long some of the flight to safety kind of things such as US or Japanese bonds or speculative investments such as gold UM, but there are very very few winners who anticipated UM Brexit. We think in terms of assessing UM, you know your investments, it would be foolish to look at it just through
the filter of Brexit. Certainly, if your investments are eurocentric UM, that should give you pause to UH look for opportunities to diminish that concentration risk and diversify. But other than that, we think that people should um uh, you know, be vigilant about assessing their portfolio, watching it and looking at the and trying to understand the broader economic and political implications.
And I think that's something that is the forest from the trees that gets lost because there's so people, so many people get focused on what's going up and what's going down? Okay, so what are what is? What is the broader global implication and what does it mean for portfolios? As you've in the time you've spent last couple of weeks looking at the Briggs that vote, what are what a couple of the key themes that emerge with people to be aware of the key themes to look at.
As an example, is um is um um the UK's separation with the EU? What ramifications is that going to have trade within the eurozone? Um? What is that going to do for to the extent that investors are invested in companies that are within the foot see one hundred,
what are the implications? So as an example, one of the questions I've imposed in the last couple of days is, given brexit, how can you explain the foots on being up so that's a you know, a paradox, and in the near term our answer to that is as follows. Number one, UM, you know, some of it is just relief from the fact that UM, the UK has not
exercised Article fifty yet. Secondly, if you look at the composition of the companies within the foots you one hundred more than seventy seven percent of them are multinationals who garner majority of the revenue outside the UK and as such, UM they're making money that's worth more UH in local currency terms the pound. All right, saman want thank you so much for joining us. His founder and managing director, Global Risk Management Advisors right here in New York City.
Don't overreact to brexit, step back. Are your investment zero centric? Maybe you need a broader view. This is Bloomberg coming upon taking stock. We'll be speaking with a global macro trader and an in house analyst for Vine Street Trading. They focus on electronic futures markets who've got details ahead