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Volatility is going to be one of the few constants in this environment and that's because there are all of these structural changes that are hard to understand.

All the signs are and all the trend lines indicate that inflation is more likely to accelerate.

We got to go back to 1938 to find capital levels in the banking industry as high as they are today and that affects

the ROE.

Bloomberg surveillance, your link to the world of economics, finance and investment on

Bloomberg Radio.

Good morning everyone, Michael McKee and Tom Key, and we say good morning worldwide.

In this hour, George Friedman joins us with geopolitical futures on maybe the advice taken by Secretary Clinton and Mr. Trump is the

United States looks at its international projection also George Freeman on Germany

as well we will look to that in this hour. Right now we will look

to futures negative six, Dow futures negative 54, a deterioration, a modest

deterioration but nevertheless persistent in the equity markets.

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