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Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg

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Speaker 1: Daybreak from Monday, October thirty two. Coming up this hour,

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Speaker 1: hundred enters the last trading day of October, up almost

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Speaker 1: nine percent for the month. Investors await this week's set

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Speaker 1: decision and jobs reports Barklay's trading revenue jobs estimates. We'll

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Speaker 1: speak with the bank's CEO. And in Brazil, Luisa Nacio

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Speaker 1: Lula da Silva wins the presidential election. The man accused

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Speaker 1: of attacking the husband of House Speaker Pelosi will be

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Speaker 1: charged today. Blest, South Bria mourns after a crowd crush

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Speaker 1: kills more than a hundred fifty people at Michael blarn

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Speaker 1: more than head John Stash Howard sports the Jets and

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Speaker 1: Giants four game win streaks, both game to an end.

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Speaker 1: The Knicks lost, the Rangers and Devils both won. That's

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Speaker 1: all straight Ahead on Bloomberg Daybreak on Bloomberg eleven, Freeo,

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Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh

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Speaker 1: six one, Boston, Bloomberg nine sixty, San Francisco, Syrius x

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Speaker 1: M one nineteen, and around the world on Bloomberg Radio

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Speaker 1: dot Com. And via the Bloombird Business Act. Good Monday morning.

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Speaker 1: I'm Amy Morris, I'm Nathan Hagar. Futures are moving lower

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Speaker 1: this morning. We're coming up to six o one on

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Speaker 1: Wall Street. We checked the market's every fifteen minutes during

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Speaker 1: the trading day. On bloomberg SMP futures are down twenty points.

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Speaker 1: Staff futures down a hundred forty, Nastack futures are lower

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Speaker 1: by eighty one points. The tenure Treasury is down thirteen

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Speaker 1: thirty seconds now, the yield four point zero six percent

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Speaker 1: yield on the two year four point four nine percent.

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Speaker 1: NIMEX screwed is down one point one percent or ninety

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Speaker 1: five cents at eighty six ninety five of barrel comes

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Speaker 1: gold down two tenths per cent or three dollars thirty

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Speaker 1: cents at sixty one fifty announced and the euro right now,

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Speaker 1: Amy is trading at point zero against the dollar. Nathan

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Speaker 1: stocks entered the last day of the trading month and

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Speaker 1: rally mode D S and P five hundred, gaining almost

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Speaker 1: nine percent. In October, the dal Jones industrial average has

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Speaker 1: surged to more than fourteen percent. Michael Sheldon, its chief

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Speaker 1: investment officer, at high Tower r D Infinite Group. The

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Speaker 1: Dow is the first of the major industries to move

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Speaker 1: back above their key two day moving averages, so that's

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Speaker 1: something a lot of investors watched, separating a longer term

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Speaker 1: rally versus a short term rally. None of the other

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Speaker 1: major markets have done that, but that's certainly something to

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Speaker 1: to monitor going forward. Tour r D M Financial Group

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Speaker 1: Michael Sheldon also notes the S and P five days

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Speaker 1: on its longest weekly winning streak since August. Well investors

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Speaker 1: have to potential market moving events this week. Game Either

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Speaker 1: FED makes an interest rate decision on Wednesday and the

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Speaker 1: government issues it's monthly employment report on Friday. Bloomberg's Any

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Speaker 1: del Judas reports economisty another jumbo US rate hike seventy

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Speaker 1: five basis points to stop red hot inflation. Consumer psychology

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Speaker 1: a key to snapping a price breakout, s just the

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Speaker 1: FED as its work cut out. Americans see the cost

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Speaker 1: of living rising five percent over the next year, based

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Speaker 1: on University of Michigan data. Turning to America's labor market,

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Speaker 1: economists anticipate in October payroll game but not as robust

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Speaker 1: is September. The unemployment rate will probably remain low amid

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Speaker 1: historic labor shortages in many industries. Fini Del Judaece, Bloomberg Daybreak,

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Speaker 1: Thank you any The end of the FEDS campaign to

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Speaker 1: raise interest rates is approaching. That's the word from Mike Wilson,

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Speaker 1: who's the Morgan Stanley was a prominent stock market bear

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Speaker 1: who correctly predicted this year's slump inequities. Wilson says indicators

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Speaker 1: including the inversion of the yield curve between ten year

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Speaker 1: and three month treasuries all support a FED pivot sooner

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Speaker 1: rather than later. It's also going to be another busy

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Speaker 1: week for earnings amy with more than a third of

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Speaker 1: the companies in the SMP five reporting. The story from

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Speaker 1: Bloomberg's Charlie Pellett. With more than two hundred sixty S

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Speaker 1: and P companies reporting so far, about seventy one have

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Speaker 1: delivered positive earning surprises despite some notable technology. Mrs Emily

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Speaker 1: Hill is founding partner at Bower Stock Capital Partners. You know, yes,

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Speaker 1: some earnings are exceeding this reasonably low bar, but overall

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Speaker 1: we have slowing growth and I think what we're going

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Speaker 1: to see is more of what we just saw from

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Speaker 1: big tech and in the first quarter of next year,

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Speaker 1: we're going to see the impact of the strong dollar

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Speaker 1: rising interest rates even more than we have now. In

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Speaker 1: addition to the healthcare giants, this week we will hear

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Speaker 1: from A M D, Airbnb, Conico, Phillips, Starbucks, Uber and

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Speaker 1: Young Brands. In New York Charlie Pellott Bloomberg Daybreak, Thank you, Charlie.

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Speaker 1: And in Europe, shares of Barclays are one point seven

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Speaker 1: percent higher. Trading revenue rose a greater than expected this game,

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Speaker 1: driven by fixed income, commodities and currencies. Trading exclude some

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Speaker 1: hedging losses tied to its mistakenly issued securities earlier this year.

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Speaker 1: In his first TV interview since taking on the top job,

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Speaker 1: Chief executive Officer C. S. Van katea Christian, spoke about

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Speaker 1: the UK economy with Bloomberg's francy and lakwax. What I'm

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Speaker 1: hoping you see is what people will call a soft

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Speaker 1: landing and shallow recession, helped by the initial conditions uh

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Speaker 1: and and so what you might see an increase in unemployment.

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Speaker 1: You might see some credit witness among among customers, but

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Speaker 1: it won't be so bad that you see dispressed in society.

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Speaker 1: We'll bring you more of our conversation with Chief Executive

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Speaker 1: Officers cs Venkate Christian a little later in the program. Well,

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Speaker 1: another major story we're following this morning, amy takes place

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Speaker 1: in Brazil. It is a dramatic comeback for former president

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Speaker 1: Luis and Nacio Lula de Silva, the left wing politician

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Speaker 1: has won the presidential election, narrowly defeating incumbent Gyre Bollsonaro.

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Speaker 1: Three years ago, Lula was in a jail cell on

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Speaker 1: corruption charges. Juan Pablo Spinetto is Bloomberg's managing editor for

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Speaker 1: Economy and Government in Latin America. Less than three years ago,

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Speaker 1: he was still in jail. So if we talk about

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Speaker 1: perspective um, this is probably one of the greatest political

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Speaker 1: comeback sides in my life. Lula was president for eight

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Speaker 1: years at the beginning of the century. He was one

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Speaker 1: of the most popular politicians on Earth. At some point

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Speaker 1: when Barack Obama was president, he he and the guy

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Speaker 1: right the most important and most popular president. Bloomberg Managing

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Speaker 1: editor Juan Pablo Spinetto says Bulsonaro has neither conceded the

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Speaker 1: race nor commented on the results. And another political news

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Speaker 1: this morning, Chinese Foreign Minister Whang you criticized US export

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Speaker 1: curbs in a call with Secretary of State Anthony Blincoln.

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Speaker 1: Lang's comments about export controls were an apparent reference to

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Speaker 1: Washington's move earlier this month to restrict Chinese access to

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Speaker 1: chip making technology. On the economic front, and Asia aim

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Speaker 1: each China's factory and services activity contracted in October of

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Speaker 1: Bloomberg day Break, Asia anchor Bryan Curtis has more from

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Speaker 1: Hong Kong. The downshift suggests that COVID curbs and the

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Speaker 1: property CRISTI are taking a toll. The official p m

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Speaker 1: I fell to forty nine point two from fifty point

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Speaker 1: one in September and below estimates. The non manufacturing pm

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Speaker 1: I dropped to forty eight point seven from fifty point

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Speaker 1: six and also below estimates. Bloomberg Economics says, as bad

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Speaker 1: as these numbers are, they probably understate the true weakness.

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Speaker 1: New export orders slumped all the way to forty seven

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Speaker 1: point six and non manufacturing employment dropped to forty six

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Speaker 1: point one in Hong Kong. Brian Curtis, Bloomberg day Break,

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Speaker 1: Brian thanks SMP futures now down twenty points, staff futures

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Speaker 1: down a hundred forty night and nastac futures are lowered

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Speaker 1: by seventy nine points. Straight ahead your latest local headlines

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Speaker 1: in the check of sports. This is Bloomberg Thanky Nathan

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Speaker 1: at six oh seven on Wall three. Let's bring in

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Speaker 1: Michael Barr to find out what else is going on

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Speaker 1: in New York and around the world. Good morning, Michael,

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Speaker 1: Good morning Amy. We're learning more information about the attack

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Speaker 1: on Paul Pelosi, the husband of how Speaker Nancy Pelosi.

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Speaker 1: It is said the suspect allegedly had a bag full

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Speaker 1: of zip ties along with a hammer he brought to

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Speaker 1: pelosi San Francisco home. The suspect, David D. Pap will

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Speaker 1: officially be charged today and arraigned tomorrow. Pelosi is the

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Speaker 1: latest in a growing wave of threats and plants against

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Speaker 1: elected officials on Face the Nation. Margaret Brennan asked Tom Emmer,

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Speaker 1: Congressman and chairman of the National Republican Congressional Committee, about

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Speaker 1: a tweet he had posted several days ago of him

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Speaker 1: touting the Second Amendment firing a gun with the hashtag

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Speaker 1: fire Pelosi. Why is there a gun in a political

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Speaker 1: add at all? Well, would pink slip be more fitting

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Speaker 1: if it's about firing her exercising our second a meenment

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Speaker 1: rights heaven. The Second Amendment has been about the Second Amendment.

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Speaker 1: Hashtag Pelosi yes. Emmert said there is no place for

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Speaker 1: violence in our society. Face the nation can be heard

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Speaker 1: Sundays on Bloomberg Radio. At least a hundred fifty three

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Speaker 1: people were killed and dozens injured following a crowd crush

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Speaker 1: during Halloween celebrations in Seoul, marking one of the deadliest

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Speaker 1: incidents in South Korea in years. Bloomberg so he Kim

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Speaker 1: has more from Soul. Most of the victims who are

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Speaker 1: young people, those who are in their twenties and women

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Speaker 1: who couldn't endure the pressure they got from the card crush.

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Speaker 1: Bloomberg so he came from Seoul. President Yusak Joel declared

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Speaker 1: a period of national mourning and vowed to carry out

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Speaker 1: a thorough investigation. Republican Governor Brian Kemp and Democrats Stacy

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Speaker 1: Abrams squared off Sunday night in Georgia's governor race. Governor

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Speaker 1: Kemp praise the state's economy thankfully in Georgia because we

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Speaker 1: were open even when Miss Abrams didn't want us to be.

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Speaker 1: Our economy has been incredibly resilient. We've had two record

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Speaker 1: years for economic development. Meanwhile, Abrams during the debate, promised

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Speaker 1: voters she will not reduce taxes for the rich. As governor.

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Speaker 1: I will not only lower costs. I will put more

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Speaker 1: money into the pockets of working Georgians, of middle class Georgians.

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Speaker 1: But what I will not do is give tax cuts

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Speaker 1: to the wealthy and the powerful. The Abrams Kemp debate

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Speaker 1: aired on WSV. Drivers, look out for a little trick

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Speaker 1: or treaters in the Tri State area. It's Halloween. Meanwhile,

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Speaker 1: for the adults, the annual Halloween Parade returns to Greenwich Village.

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Speaker 1: Tonight Global News twenty four hours a day on air

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Speaker 1: and on Bloomberg Quicktake, powered by more than hundred journalists

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Speaker 1: and analysts more than a hundred twenty countries. How Michael

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Speaker 1: bar and this is Bloomberg Gaming. All right, thank you, Michael,

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Speaker 1: six or nine on the Wall Street. Time Now for

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Speaker 1: the sports reports by Price Staate AUTI here's John dash Our,

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Speaker 1: all right, Amy. It was an awfully nice month of

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Speaker 1: October for the Jets and Giants. Both were hoping to

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Speaker 1: cap it with a fifth win in a row. Both

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Speaker 1: saw the winning streaks come to an end. Jets led

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Speaker 1: the Patriots at halftime, but the Pats court nineteen points

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Speaker 1: in a row, beat the Jets for the thirteenth consecutive time,

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Speaker 1: twenty two to seventeen at midlife. Not a good day

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Speaker 1: for Zach Wilson. Between a couple of touchdown fasts, he

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Speaker 1: threw three interceptions. One was the pass he was just

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Speaker 1: trying to throw away. There was a costly Jet penalty

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Speaker 1: in the first half, roughing the pastor that wiped out

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Speaker 1: an eighty yard pick six the Jets to all the

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Speaker 1: five and three the Giants in Seattle. The game was

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Speaker 1: tied at seven, then ten, then thirteen. In the fourth

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Speaker 1: quarter again on first down pumpt down the cottra who

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Speaker 1: want a drive with Cheet Tyler Larkin was not gonna

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Speaker 1: let this one get away. Tyro had the call. Tyler

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Speaker 1: Locket had dropped the TV pass earlier, also had a

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Speaker 1: fumble that led to the Giants only TV. Seattle scored

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Speaker 1: again four minutes later. Seahawks won twenty seven to thirteen.

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Speaker 1: Richie Jeans was a giant goat. He fumbled punts in

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Speaker 1: both halves and both led to Seattle scores. Giants are

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Speaker 1: six and two off next week, Nick's got a good

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Speaker 1: look at the guy they were trying to acquire in

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Speaker 1: the off season. In Cleveland, Donovan Mitchell scored thirty eight points,

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Speaker 1: made eight three pointers at twelve assist Calv's rally to

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Speaker 1: win one oh eight Rangers on them because advantage had

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Speaker 1: power play goals seven minutes left, won three two at Arizona,

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Speaker 1: Devil's Route in Columbus seven, and won the World Series.

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Speaker 1: Now in Philadelphia Asdos and Phillies one one go into

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Speaker 1: the Knight's Game three, John stash that wear Bloomberg Sports Team,

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Speaker 1: Thank you. John teaches a lower SMD features down twenty

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Speaker 1: del features down one six points. Now that features down

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Speaker 1: seventy nine points, ten year treasury down eleven thirty seconds,

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Speaker 1: the field four point six percent. That's more still to come.

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Speaker 1: On Bloomberg day Break. This is Bloomberg. The Bloomberg Sports

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Speaker 1: Report was brought to you by Audie. Don't let someone

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Speaker 1: else drive off and the Audi model you've always wanted.

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Speaker 1: com for more information, markets, headlines and breaking news. Twenty

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Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg

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Speaker 1: Business Out and at Bloomberg Quicktake. This is a Bloomberg

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Speaker 1: business lash. I'm Nathan Hagar. Futures are moving lower this morning.

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Speaker 1: We have SMP futures down twenty points down, futures down

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Speaker 1: a hundred forty nine. NASTAC futures are lower by eighty

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Speaker 1: two points. We check the markets every fifteen minutes during

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Speaker 1: the trading day on Bloomberg. Send your treasuries down eleven

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Speaker 1: thirty seconds. The old four point zero six percent yield

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Speaker 1: on the two year four point four eight n I'm

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Speaker 1: x scrude is down one point four percent, down a

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Speaker 1: buck twenty five at eighty six dollars, sixty four cents

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Speaker 1: a barrel. Call x goll down three tenths per center

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Speaker 1: for at all the sixty cents at sixteen forty announced.

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Speaker 1: The euro point two against the dollar, British pound one

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Speaker 1: point seven. The end is a one point four six.

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Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with

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Speaker 1: more on what's going on around the world. Michael Pathan,

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Speaker 1: thank you very much. Brazilians have delivered a very tight

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Speaker 1: victory to Louis Ignatio Lula da Silva in their presidential election.

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Speaker 1: He gives the leftist former president another shot at power

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Speaker 1: in a rejection of incumbent Jayer Bolson Naro's far right politics.

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Speaker 1: In the NFL, the Giants lost, Patriots beat the Jets,

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Speaker 1: the Commanders and one. NBA Nicks lost, Celtics beat the Wizards,

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Speaker 1: the Warriors lost, Devils and Rangers one. In Hockey Global

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Speaker 1: News twenty four hours a day on air and on

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Speaker 1: Bloomberg Quicktake, Power bout more than twenty seven hundred journalists,

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Speaker 1: analysts more than a hundred twenty countries. Michael Barr, this

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Speaker 1: is Bloomberg Gaming, all right, Thank you, Michael. Six eighteen

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Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.

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Speaker 1: This is Bloomberg day Break. Former Barclay's Market chief s C.

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Speaker 1: S n A. Christian is now CEO of the story

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Speaker 1: UK Bank. He took over the top job after the

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Speaker 1: abrupt departure of its former chief executive. So now a

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Speaker 1: year end of the job, Van Cat is leading bark

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Speaker 1: Lays through a war in Ukraine, rampant inflation, and aggressive

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Speaker 1: central bank tightening. In his first TV interview since taking

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Speaker 1: the Helm Vancat, Spook exclusively, the Bloomberg's Franci and Lakwa.

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Speaker 1: I think the UK economy has had a lot of

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Speaker 1: support during COVID, and obviously there are you know, the

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Speaker 1: UK has been growing more slowly than it should. But

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Speaker 1: the financial services industry, which is a large part of

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Speaker 1: the UK, is very competitive, but it's not the only one.

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Speaker 1: Health sciences, even technology, in parts of technology fintech are

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Speaker 1: very very bright stars in the UK. So the UK

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Speaker 1: has a lot going for it, and I don't think

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Speaker 1: you will see that kind of environment. I think what

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Speaker 1: what what I'm hoping you see is what people will

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Speaker 1: call a soft landing and shallow recession, helped by the

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Speaker 1: initial conditions. Uh and and so what you might see

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Speaker 1: is an increase in unemployment. You might it see some

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Speaker 1: credit weakness among among customers, but it won't be so

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Speaker 1: bad that you see distress in society. However, it has

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Speaker 1: to be managed carefully and it has to be managed

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Speaker 1: aggressively with the balancing of the budget. And that's what

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Speaker 1: the Prime Minister has said in the last couple of days.

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Speaker 1: Are you expecting housing crush? I doubt it. Talk to

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Speaker 1: me a little bit about the last six weeks. So

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Speaker 1: you mentioned the guilt was there a moment where you

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Speaker 1: were in the office thinking like, I you know, as

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Speaker 1: Barclays you're one of of course the players in selling

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Speaker 1: and buying guilds with the margin calls coming in and

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Speaker 1: saying like, I don't know what happens in the next

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Speaker 1: two hours. So first of all, I think that I

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Speaker 1: think the the volatility was managed extremely well by the

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Speaker 1: very effective, targeted and time bound actions of the Bank

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Speaker 1: of England. So I think buying guilts, buying infatient linked

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Speaker 1: gills and then the report facility that they put in

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Speaker 1: working with the banking system all helped ease the pressure

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Speaker 1: in the crisis. And you know, you've got ten years guilty.

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Speaker 1: He is now back below where they were um at

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Speaker 1: the at the day of the Mani budget on the

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Speaker 1: twenty three September. As for us, I mean we are

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Speaker 1: large in the in the guilt's market. Um. What was

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Speaker 1: important for us as we saw it was this was

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Speaker 1: not a solvency issue at all. For the pension system.

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Speaker 1: It was a liquidity issue. And it was a liquidity

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Speaker 1: issue because what was a very important feature of the

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Speaker 1: UK pension system, which by the way, I think is

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Speaker 1: a good feature of the pension system, which is a

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Speaker 1: matching of assets and liabilities, which employed leverage created a

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Speaker 1: liquidity problem, so liquidity problem had to be managed. Is

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Speaker 1: liquidity you're the biggest concern for banks right now? I

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Speaker 1: mean we're again hearing, you know, the U. S. Treasury

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Speaker 1: Secretary having to do things maybe to put a bit

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Speaker 1: of extra liquidity to pat it out in the treasuring market.

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Speaker 1: Bank liquidity, I don't think is an issue. We've had

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Speaker 1: liquidity regimes, the you know, funding models are much much

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Speaker 1: more robust than they were in the financial crisis. I

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Speaker 1: think part of what people are worried about and what

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Speaker 1: they saw in the guilt market was the liquidity in

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Speaker 1: underlying trading, which is that these markets are not deep

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Speaker 1: with smaller bit of a small bit offers in large

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Speaker 1: sizes of trades as they used to be fifteen years ago.

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Speaker 1: And I think part of it our banks are more

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Speaker 1: prudent in managing their risk. What's your relationship like with

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Speaker 1: with the new UK government? Have you had calls? Have

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Speaker 1: you have they given your assurance about windfall taxes? Well,

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Speaker 1: I think the government is brand new, so we obviously

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Speaker 1: many of the faces are very familiar faces and we've

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Speaker 1: been dead you know, in communication with them in many

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Speaker 1: for many years, and we always are with the government UM.

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Speaker 1: And you know, we are a wait to see their

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Speaker 1: proposals on on taxation, on fiscal policy, on all aspects

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Speaker 1: of it. Where do you see the city of London

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Speaker 1: being in four or five years? I mean that's maybe

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Speaker 1: too long a time frame. Should I say twelve months? Well,

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Speaker 1: it's it's both too long and too short. You know.

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Speaker 1: If here we are in the city and this city

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Speaker 1: has been the enter of finance for three d years

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Speaker 1: and it needs to be the center of finance with

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Speaker 1: three hundred more years, we certainly would wish that that

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Speaker 1: were the case. UM. And it is the center of

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Speaker 1: finance because of an excellent regulatory system, transparent fair It

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Speaker 1: is there because of great availability of talent UM and infrastructure,

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Speaker 1: soft financial infrastructure and hard financial infrastructure UM. And a

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Speaker 1: part of that is also a stable, predictable taxation regime.

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Speaker 1: So we hope that all those elements and ingredients remain

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Speaker 1: and continue to allow the city to flourish. And you know,

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Speaker 1: the Prime Minister book about investing in education in Britain,

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Speaker 1: and if you think about what drives the financial sector.

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Speaker 1: I mean you meet many of them. It's about the

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Speaker 1: wonderfully trained people in the UK and the wonderfully trained

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Speaker 1: people outside were able to come and work in the UK.

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Speaker 1: If the UK has lost something, when City of Lunds

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Speaker 1: has lost business to other parts of the world in

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Speaker 1: terms of you know, financial capitals, what do you need

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Speaker 1: from the government today for that to be reversed. Well,

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Speaker 1: some of it is what others do, right. So once

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Speaker 1: briggsit happened, um and you could not passport financial services

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Speaker 1: to London. All the major banks had to set up

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Speaker 1: trading enterprises in Europe. So that is irreversible, let's say

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Speaker 1: for the time being. I think other than that, what

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Speaker 1: we need is a continuation of what London has provided,

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Speaker 1: you know, education, infrastructure, people, great regulatory regime and UH

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Speaker 1: and a stable and predictable you know, fiscal regime. Christians

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Speaker 1: speaking with Bloomberg's Francy and Laquix. You can catch that

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Speaker 1: full interview on bloomberg dot com or on the Bloomberg terminal.

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Speaker 1: Futures are lower, SMB features down, twenty doll features down

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Speaker 1: one points, nattack features down seventies six, the ten year

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Speaker 1: treasury down eleven thirty seconds. Can you yield at four

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Speaker 1: point oh five per cent? Much more still to come

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Speaker 1: on Bloomberg Break. This is Bloomberg Bloomberg eleven three oh weather.

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Speaker 1: Mostly cloudy today going up to sixty five degrees with

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Speaker 1: scattered showers to night, down to fifty five and back

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Speaker 1: up to seventy tomorrow with showers early in the morning

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Speaker 1: and mostly cloudy skuys tomorrow afternoon. Broadcasting live from the

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Speaker 1: Bloomberg Interacted Brokers studio in New York. Bloomberg E Living

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Speaker 1: Free On to Washington, d C. Bloomberg on to Boston,

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Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine

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Speaker 1: six to the country, Sirius XM to A one nine

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Speaker 1: and around the globe the Bloomberg Business and Bloomberg Radio

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Speaker 1: dot Com. This is Bloomberg Daybreak. It's six thirty on

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Speaker 1: Wall Street. Good Monday morning. I may me Morris and

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Speaker 1: I'm Nathan Hagar. We're about three hours away from the

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Speaker 1: open of US training time for the five things you

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Speaker 1: need to know to start your day. Brought to you

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Speaker 1: by Interactive Brokers. Interactive Brokers charges margin loan rates from

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Speaker 1: three point five eight to four point five eight percent

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Speaker 1: rates subject to change. Learn more at ib kr dot com.

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Speaker 1: Slash compare first. US futures are lower to start the morning,

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Speaker 1: but stocks enter this last day of the trading month

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Speaker 1: in rally mode. This and P five hundreds gained almost

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Speaker 1: nine percent in October, while the Dow has surged more

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Speaker 1: than four Phil Orlando, chief ecuty strategist that Federated Hermes,

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Speaker 1: thinks we are still in for a bumpy road ahead.

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Speaker 1: There's been this perception among the market. We've seen this

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Speaker 1: from that big rally mid June and mid August and

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Speaker 1: then this rally over the last couple of weeks, This

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Speaker 1: perception that there will be this immaculate decline and inflation

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Speaker 1: which is going to allow the Federal Reserve to stop

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Speaker 1: hiking interest rates and turn around and start cutting interest rates.

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Speaker 1: We are not that sanguine. It's gonna be a problem

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Speaker 1: longer than the market thanks. Phil Orlando with Federated Hermes

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Speaker 1: is still positioning defensively as the Fed continues to tighten

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Speaker 1: monetary policy, and we're watching a couple of key events

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Speaker 1: this week. If that makes an interest rate decision on Wednesday,

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Speaker 1: and the government issues its monthly employment report on Friday.

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Speaker 1: Katrina L is a senior economist with Moody's Analytics. We

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Speaker 1: have seen that the U S economy is still kind

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Speaker 1: of roaring ahead, but momentum has definitely slowed, and I

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Speaker 1: think what the Fed is really going to continue to

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Speaker 1: focus on is that the strength of the labor market.

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Speaker 1: And while we have seen some softening in the labor market,

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Speaker 1: it's still type beyond comfort levels. Katrina L with moody

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Speaker 1: says she expects the FED to raise rates another seventy

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Speaker 1: five basis points this week before easing in the coming months.

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Speaker 1: Stick with us all week for the latest Fed coverage.

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Speaker 1: We'll bring you Jair J. Powell's full comments live Wednesday

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Speaker 1: on Bloomberg Radio and television. Over in Europe, Amy shares

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Speaker 1: of Barclays are up almost one percent. Trading revenue rose

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Speaker 1: more than expected thanks to fixed income, commodities and currencies trading.

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Speaker 1: In his first broadcast interview since taking the top job,

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Speaker 1: CEO C. S. Van Kada Christian spoke about the UK

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Speaker 1: economy with Bloomberg's Fiancy Laquix. What you might see as

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Speaker 1: an increase in unemployment, you might see some credit weakness

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Speaker 1: among among customers, but it won't be so bad that

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Speaker 1: you see distress in society. However, it has to be

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Speaker 1: managed carefully and it has to be managed aggressively with

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Speaker 1: the balancing of the budget, and that's what the Prime

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Speaker 1: Minister has said in the last couple of days. Catch

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Speaker 1: our full interview with Barclay CEO on Bloomberg dot Com

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Speaker 1: or on the Bloomberg Terminal. A dramatic comeback in Brazil

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Speaker 1: for former President Louise in Assacia Lula da Silva, the

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Speaker 1: left ring politician winning the presidential election narrowly defeating incumbent

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Speaker 1: Jay r Balls and narrow. That's the five things you

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Speaker 1: need to notice start your day. Brought to you by

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Speaker 1: Interactive Brokers, and this is Bloomberg. Thank you, Nathan sixty

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Speaker 1: three on Wall Street. Let's bring in Michael bar to

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Speaker 1: tell us what else is going on in New York

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00:23:44,080 --> 00:23:46,439
Speaker 1: and around the world. Thank you very much. Amy. The

430
00:23:46,440 --> 00:23:50,440
Speaker 1: mayor of Ukraine's capital said that eight percent of consumers

431
00:23:50,480 --> 00:23:53,960
Speaker 1: in Ki were left without water supplies due to the

432
00:23:54,040 --> 00:23:58,000
Speaker 1: damage to a power facility near the city from Russian

433
00:23:58,000 --> 00:24:02,760
Speaker 1: military strikes. Today the tally Klitschko says local authorities are

434
00:24:02,760 --> 00:24:06,080
Speaker 1: working on restoring the supplies as soon as possible, telling

435
00:24:06,160 --> 00:24:08,879
Speaker 1: Kiev residents in the meantime to stock up on water

436
00:24:09,240 --> 00:24:12,439
Speaker 1: from the nearest pump rooms and points of sale. The

437
00:24:12,520 --> 00:24:16,640
Speaker 1: barrage of Russian strikes hit critical infrastructure facilities in Kiev

438
00:24:16,960 --> 00:24:21,600
Speaker 1: and other Ukrainian cities. South Korean President Yun Sakyol has

439
00:24:21,600 --> 00:24:25,680
Speaker 1: promised a full investigation and support for those affected. After

440
00:24:25,720 --> 00:24:29,240
Speaker 1: a crowd crush and Soul killed more than one fifty people,

441
00:24:29,480 --> 00:24:33,040
Speaker 1: Bloomberg's so he Kim reports from Soul, there were tens

442
00:24:33,040 --> 00:24:36,080
Speaker 1: of thousands of people packed in a narrow alley on

443
00:24:36,160 --> 00:24:39,640
Speaker 1: a hill, and suddenly it went out of control, as

444
00:24:39,720 --> 00:24:44,040
Speaker 1: people described as they were falling like dominoes Bloomberg, so

445
00:24:44,080 --> 00:24:47,520
Speaker 1: he Kim and Soul. The man accused of attacking Paul Pelosi,

446
00:24:47,600 --> 00:24:51,119
Speaker 1: the husband of Speaker of the House Nancy Pelosi, is

447
00:24:51,200 --> 00:24:54,600
Speaker 1: expected in court today to face attempted murder and other charges.

448
00:24:54,880 --> 00:24:58,200
Speaker 1: Investigators are examining forty two year old David to Pop's

449
00:24:58,359 --> 00:25:02,800
Speaker 1: social media pages, which allegedly include false conspiracy theories about

450
00:25:02,800 --> 00:25:06,840
Speaker 1: the election. There's word Pop had zip ties and duct

451
00:25:06,840 --> 00:25:10,240
Speaker 1: tape and his bags Friday when he allegedly broke into

452
00:25:10,480 --> 00:25:14,639
Speaker 1: the Pelosi's san Francisco home. There are calls this morning

453
00:25:14,640 --> 00:25:16,840
Speaker 1: for the United Nations to broke of the resumption of

454
00:25:16,920 --> 00:25:20,600
Speaker 1: wheat exports from Ukraine. Bloomberg's backs are as the story.

455
00:25:20,920 --> 00:25:23,639
Speaker 1: Russia is blocking the departure of any ships carrying wheat

456
00:25:23,640 --> 00:25:27,120
Speaker 1: out of Ukraine, saying that drone strikes are originating off

457
00:25:27,119 --> 00:25:31,320
Speaker 1: the ships. President Joe Biden says, very concerning. Truly outrageous

458
00:25:31,440 --> 00:25:34,600
Speaker 1: is from increased targation. There's no reason for them to

459
00:25:34,640 --> 00:25:38,200
Speaker 1: do that, but they're always looking for some rationale to

460
00:25:38,440 --> 00:25:41,560
Speaker 1: be able to stay green. They're doing something outrageous is

461
00:25:41,600 --> 00:25:44,360
Speaker 1: because the West made them do it. Ukraine says two

462
00:25:44,880 --> 00:25:48,679
Speaker 1: eighteen ships in total have been blocked in San Francisco.

463
00:25:48,720 --> 00:25:51,359
Speaker 1: I'm at Baxter Bloomberg Gay Break. Donald Trump's company, the

464
00:25:51,359 --> 00:25:55,000
Speaker 1: Trump Organization is on trial this week for criminal tax frond.

465
00:25:55,359 --> 00:25:58,439
Speaker 1: Opening statements and the first witnesses are expected today in

466
00:25:58,480 --> 00:26:02,920
Speaker 1: New York. Among the key prosecution witnesses Trump's longtime finance

467
00:26:03,000 --> 00:26:07,120
Speaker 1: chief Alan Weislberg. Global News twenty four hours a day

468
00:26:07,160 --> 00:26:10,200
Speaker 1: on air and on Bloomberg quick Take, powered by more

469
00:26:10,240 --> 00:26:13,760
Speaker 1: than twenty seven hundred journalists and endless more than twenty countries.

470
00:26:14,240 --> 00:26:17,040
Speaker 1: Michael Barr. This is Bloomberg Gaming. All right, thank you, Michael.

471
00:26:20,600 --> 00:26:23,280
Speaker 1: Time now for the sports before Rosy by Tri State Audie.

472
00:26:23,280 --> 00:26:26,000
Speaker 1: Here's John stash Our. Thanks aman Gino. Smith was a

473
00:26:26,080 --> 00:26:28,680
Speaker 1: high draft pick of the Jets. Spent one year with

474
00:26:28,760 --> 00:26:31,679
Speaker 1: the Giants, mostly as a backup quarterback. That's been his

475
00:26:31,840 --> 00:26:34,520
Speaker 1: role almost his entire career, but Seattle trade of the

476
00:26:34,600 --> 00:26:37,160
Speaker 1: unhappy Russell Wilson gave the job to Smith and he's

477
00:26:37,160 --> 00:26:40,240
Speaker 1: been a sensational leads the NFL, and completion percentage led

478
00:26:40,240 --> 00:26:43,640
Speaker 1: the Seahawks to win over the Giants. Smith was asked

479
00:26:43,640 --> 00:26:47,040
Speaker 1: about beating his old team Austin one year with the Giants,

480
00:26:47,200 --> 00:26:49,400
Speaker 1: and so that year to me was like a blur,

481
00:26:49,960 --> 00:26:52,120
Speaker 1: and uh, you know, my life has moved on from then.

482
00:26:52,640 --> 00:26:55,560
Speaker 1: I don't have any remorse towards anyone there. Uh. In fact,

483
00:26:55,600 --> 00:26:57,800
Speaker 1: you know this, to me, this game was been back

484
00:26:57,800 --> 00:26:59,840
Speaker 1: and doing Jerry Reece. They believed in me, and so

485
00:27:00,359 --> 00:27:02,040
Speaker 1: as far as you know any other thing, I don't

486
00:27:02,040 --> 00:27:03,680
Speaker 1: really care for it. Um, you know, I'm happy to

487
00:27:03,720 --> 00:27:05,800
Speaker 1: be here in Seattle. Imcative and Reese with the Giants

488
00:27:05,840 --> 00:27:08,080
Speaker 1: coach and GM back in two thousand and seventeen, Giants

489
00:27:08,119 --> 00:27:10,320
Speaker 1: offense struggle. The only touchdown was due to the Seattle

490
00:27:10,359 --> 00:27:12,600
Speaker 1: fumble at their own two yard line. Quiet day for sake,

491
00:27:12,680 --> 00:27:15,720
Speaker 1: kwon Barkley a season low sixty two yards from scrimmage.

492
00:27:15,760 --> 00:27:17,520
Speaker 1: Giants four game win streak ends. They go to the

493
00:27:17,560 --> 00:27:20,640
Speaker 1: bye week six and two, tied for second with Dallas

494
00:27:20,640 --> 00:27:23,240
Speaker 1: and Philadelphia one again. The Eagles are seven oh. The

495
00:27:23,320 --> 00:27:25,800
Speaker 1: Jets also had their four game win streak, and they're losing.

496
00:27:25,880 --> 00:27:29,080
Speaker 1: Drake versus New England grew the thirteen the Patriots one

497
00:27:29,119 --> 00:27:32,000
Speaker 1: of met Life twenty two to seventeen. Zach Wilson threw

498
00:27:32,040 --> 00:27:35,280
Speaker 1: three interceptions. Bill Belichick now the second winning his coach

499
00:27:35,640 --> 00:27:38,920
Speaker 1: in NFL history, trailing only Don Scheul the Jets. Next week,

500
00:27:38,960 --> 00:27:41,800
Speaker 1: I have to play Buffalo. The Bills last night sent

501
00:27:41,880 --> 00:27:43,680
Speaker 1: Green Bay to a fourth loss in a row. Knicks

502
00:27:43,680 --> 00:27:46,199
Speaker 1: Blue A lost in Cleveland one one to one, oh

503
00:27:46,280 --> 00:27:48,399
Speaker 1: as the Calves won the fourth quarter of thirty two

504
00:27:48,760 --> 00:27:51,960
Speaker 1: to fifteen. Donovan Mitchell scored thirty eight against the Knicks,

505
00:27:52,040 --> 00:27:54,359
Speaker 1: of course, tried to acquire him in the off season.

506
00:27:54,440 --> 00:27:57,520
Speaker 1: Rangers won three two at Arizona, Devil's all over Columbus

507
00:27:57,520 --> 00:27:59,840
Speaker 1: seven and one. The Astros and Phillies tied at one

508
00:28:00,160 --> 00:28:03,800
Speaker 1: play Game three the World Series. Tonight, John Bloomberg Sports Team,

509
00:28:04,480 --> 00:28:07,240
Speaker 1: All right, thank you, John. It is sixty seven on

510
00:28:07,359 --> 00:28:09,520
Speaker 1: Wall Street. Time to take a look at stocks and

511
00:28:09,600 --> 00:28:11,840
Speaker 1: some of the names that are moving in the free market.

512
00:28:11,920 --> 00:28:15,080
Speaker 1: And for that we're joined by Bloomberg's Danny Burger. Danny,

513
00:28:15,119 --> 00:28:17,399
Speaker 1: it is a pleasure, thanks for joining us this morning.

514
00:28:17,440 --> 00:28:20,439
Speaker 1: What you got for us? We'll starting off with chip stocks,

515
00:28:20,480 --> 00:28:22,880
Speaker 1: and and look, they've they've been under under pressure really

516
00:28:22,920 --> 00:28:25,240
Speaker 1: I don't know over the past two years, but every

517
00:28:25,240 --> 00:28:28,080
Speaker 1: little incremental news we get does seem to be a

518
00:28:28,160 --> 00:28:30,360
Speaker 1: little bit more painful for them. So the latest comes

519
00:28:30,359 --> 00:28:33,119
Speaker 1: out of China with con there of course, uh the

520
00:28:33,200 --> 00:28:37,200
Speaker 1: main manufacturer for Apple, and they're trying to look at

521
00:28:37,080 --> 00:28:41,920
Speaker 1: alternative sites to start production because of the disruption that's

522
00:28:41,960 --> 00:28:44,360
Speaker 1: happening in Chinese plants. So what does it have to

523
00:28:44,360 --> 00:28:47,040
Speaker 1: do with US stocks? A lot of these US chipmakers

524
00:28:47,120 --> 00:28:49,480
Speaker 1: are under pressure because of that. This morning, again just

525
00:28:49,560 --> 00:28:52,800
Speaker 1: another piece of news of the supply chain issues facing

526
00:28:52,840 --> 00:28:55,200
Speaker 1: companies who have to deal with the COVID nineteen fallout

527
00:28:55,240 --> 00:28:59,280
Speaker 1: in China, specifically tech and chipmakers. So A A M

528
00:28:59,400 --> 00:29:01,640
Speaker 1: D for exact ample that's falling more than one percent

529
00:29:01,760 --> 00:29:05,280
Speaker 1: pre market, as is in video at this moment. And

530
00:29:05,400 --> 00:29:09,360
Speaker 1: let's turn our attention now to Emerson Electric. What's going on. So, yeah,

531
00:29:09,400 --> 00:29:12,040
Speaker 1: it's one of these big industrial companies, and this is

532
00:29:12,120 --> 00:29:14,920
Speaker 1: from a Wall Street Journal story that Blackstone, the private

533
00:29:14,960 --> 00:29:18,040
Speaker 1: equity giant, is going to be buying a fifty percent

534
00:29:18,160 --> 00:29:21,560
Speaker 1: stake in their climate tech business. So this is things

535
00:29:21,600 --> 00:29:26,719
Speaker 1: like compressors, residential and commercial heating and cooling. UM. One

536
00:29:26,720 --> 00:29:29,320
Speaker 1: of the interesting things about this deal versus, you know,

537
00:29:29,440 --> 00:29:32,200
Speaker 1: just the deal itself is that usually what happens is

538
00:29:32,320 --> 00:29:35,480
Speaker 1: banks provide the debt financing from this, but banks have

539
00:29:35,600 --> 00:29:37,880
Speaker 1: really pulled back from that they don't really want to

540
00:29:37,920 --> 00:29:41,080
Speaker 1: take on a risk. So interestingly, Blackstone is placing the

541
00:29:41,200 --> 00:29:43,720
Speaker 1: debt itself, selling it off to direct lenders. So even

542
00:29:43,800 --> 00:29:45,600
Speaker 1: just the shape of the deal is pretty interesting. But

543
00:29:45,720 --> 00:29:48,240
Speaker 1: for Emerson it does mean a boost to their shares.

544
00:29:48,280 --> 00:29:52,000
Speaker 1: They also reported earnings this morning that beat expectations, so

545
00:29:52,200 --> 00:29:54,400
Speaker 1: that plus getting a little bit of funding from this

546
00:29:54,520 --> 00:29:58,000
Speaker 1: Blackstone deal helping them move one in a third percent

547
00:29:58,080 --> 00:30:00,720
Speaker 1: in the pre market trading and any there looks to

548
00:30:00,760 --> 00:30:03,160
Speaker 1: be a great big deal with Thermo Fisher iman, this

549
00:30:03,240 --> 00:30:06,440
Speaker 1: looks yeah, and I should say one of the one

550
00:30:06,480 --> 00:30:09,440
Speaker 1: of the things interesting about this is it's a deal

551
00:30:09,560 --> 00:30:14,400
Speaker 1: for a UK asset, So it's buying a UK diagnostic

552
00:30:14,520 --> 00:30:17,520
Speaker 1: firm for two billion dollars. Is buying this off of

553
00:30:17,600 --> 00:30:20,640
Speaker 1: a private equity firm, Nordic Capital, and so yes, this

554
00:30:20,800 --> 00:30:23,320
Speaker 1: is a sizeable deal for them. But one it reflects

555
00:30:23,400 --> 00:30:26,960
Speaker 1: just how active dealmaking in healthcare has been. But also

556
00:30:27,080 --> 00:30:29,560
Speaker 1: it's the theme I'm based here in London. Something we've

557
00:30:29,600 --> 00:30:32,440
Speaker 1: been following is because of a strong dollar and a

558
00:30:32,520 --> 00:30:36,520
Speaker 1: weaker pound, we continue to see US companies interested in

559
00:30:36,760 --> 00:30:39,160
Speaker 1: UK deals. So this is yet another one adding to

560
00:30:39,280 --> 00:30:42,640
Speaker 1: evidence that perhaps the UK is on sale. I guess

561
00:30:42,720 --> 00:30:45,200
Speaker 1: you could say, um, so, yeah, they're most fisher taking

562
00:30:45,200 --> 00:30:48,560
Speaker 1: advantage of that. All right, Thanks so much, Bloomberg Television

563
00:30:48,720 --> 00:30:52,120
Speaker 1: anchor and Market Drivers host Danny Burger. Always a pleasure.

564
00:30:52,200 --> 00:30:54,160
Speaker 1: Thank you for bringing us your insights and letting us

565
00:30:54,200 --> 00:30:56,160
Speaker 1: know what some of the names are that are moving

566
00:30:56,240 --> 00:30:58,440
Speaker 1: in the pre market. Thank you for joining us looking

567
00:30:58,480 --> 00:31:00,840
Speaker 1: at stocks in the whole ahead of the and futures

568
00:31:00,880 --> 00:31:03,959
Speaker 1: are lower. SMP futures down twenty one points, deal futures

569
00:31:04,000 --> 00:31:07,880
Speaker 1: down one D fifty four points. Nastack futures down seventy nine,

570
00:31:08,040 --> 00:31:11,040
Speaker 1: ten year treasury down ten thirty seconds to yield at

571
00:31:11,080 --> 00:31:14,080
Speaker 1: four point oh five. Much more still to come on

572
00:31:14,160 --> 00:31:17,520
Speaker 1: this Monday morning edition of Bloomberg Daybreak. This is Bloomberg.

573
00:31:21,880 --> 00:31:24,120
Speaker 1: The Bloomberg Sports Report was brought to you by Audie.

574
00:31:24,120 --> 00:31:26,440
Speaker 1: Don't let someone else drive off in the Outie model.

575
00:31:26,520 --> 00:31:29,200
Speaker 1: You've always wanted to visit your local try stay Doutie Dealer,

576
00:31:29,440 --> 00:31:31,480
Speaker 1: get behind the wheel of yours today, or visit Outie

577
00:31:31,480 --> 00:31:39,040
Speaker 1: Offers dot com for more information, markets, headlines and breaking

578
00:31:39,120 --> 00:31:41,960
Speaker 1: news twenty four hours a day at Bloomberg dot com,

579
00:31:42,120 --> 00:31:45,640
Speaker 1: The Bloomberg Business at and at Bloomberg Quicktap. This is

580
00:31:45,680 --> 00:31:54,920
Speaker 1: a Bloomberg Business Lash. I'm Nathan Hager. Futures are moving

581
00:31:54,960 --> 00:31:57,080
Speaker 1: lower ahead of a very busy week for earnings and

582
00:31:57,280 --> 00:31:59,240
Speaker 1: central banks. Let's head right over to the first road

583
00:31:59,240 --> 00:32:02,000
Speaker 1: breaking news down for today's morning call. Here's Bill Maloney.

584
00:32:02,000 --> 00:32:04,560
Speaker 1: Good morning Bill, he and good morning Nathan. That's right.

585
00:32:04,680 --> 00:32:07,400
Speaker 1: US futures are lower after Friday's surge, with down futures

586
00:32:07,440 --> 00:32:09,239
Speaker 1: down a hundred and sixty one point says if he's

587
00:32:09,280 --> 00:32:12,840
Speaker 1: dropped twenty two and nasdik futures decline by eighties six

588
00:32:13,280 --> 00:32:15,880
Speaker 1: the US ten yeld at four point oh six percent,

589
00:32:16,160 --> 00:32:18,360
Speaker 1: gold is down eight, oil is in the red, and

590
00:32:18,480 --> 00:32:22,600
Speaker 1: bitcoin is trading little changed. Japan rose one percent overnight,

591
00:32:22,640 --> 00:32:25,280
Speaker 1: while up markets are quiet this morning, and back in

592
00:32:25,320 --> 00:32:28,200
Speaker 1: the US. On the economic front at Chicago p m

593
00:32:28,280 --> 00:32:31,600
Speaker 1: I and at ten thirty the Dallas Fed Regarding earnings

594
00:32:31,640 --> 00:32:35,600
Speaker 1: this morning, Emerson Electric EPs beat estimates and a deal

595
00:32:35,640 --> 00:32:38,560
Speaker 1: news thermal Fisher said to be near a deal for

596
00:32:38,640 --> 00:32:42,040
Speaker 1: two point three billion dollars for UK's binding site. In

597
00:32:42,200 --> 00:32:44,320
Speaker 1: other news, the Verrge report that Twitter plans to charge

598
00:32:45,280 --> 00:32:48,600
Speaker 1: per month for new Twitter Blue and wrapping things up,

599
00:32:48,640 --> 00:32:51,320
Speaker 1: Glad was raised equate over Barkley's Andy was cut to

600
00:32:51,400 --> 00:32:55,160
Speaker 1: market reform. Over at BMO Live from the First Breaking

601
00:32:55,200 --> 00:32:57,320
Speaker 1: News Desk, go on, Bill Moloney, Nathan, all right, Bill,

602
00:32:57,400 --> 00:32:59,760
Speaker 1: thanks to get more live breaking news on your Bloomberg

603
00:32:59,800 --> 00:33:02,840
Speaker 1: tie Squawk on the terminal s q U A go,

604
00:33:03,120 --> 00:33:05,480
Speaker 1: that's a Bloomberg business flashion. Now here's Michael Barr with

605
00:33:05,640 --> 00:33:08,160
Speaker 1: more on what's going on around the world. Michael, thank

606
00:33:08,240 --> 00:33:11,960
Speaker 1: you very much. Nathan. Brazil's Lula d Silva edged out

607
00:33:12,080 --> 00:33:16,320
Speaker 1: jayere Bolsonaro fifty point nine percent to forty nine point

608
00:33:16,440 --> 00:33:20,920
Speaker 1: one percent to win the presidency. Bolsonaro hasn't conceded or commented.

609
00:33:21,480 --> 00:33:25,040
Speaker 1: The Supreme Court revisits the issue of affirmative action today.

610
00:33:25,440 --> 00:33:28,520
Speaker 1: The case before the Court will focus on admission policies

611
00:33:28,640 --> 00:33:31,840
Speaker 1: at the University of North Carolina and at Harvard. In

612
00:33:31,960 --> 00:33:36,120
Speaker 1: the NFL, the Giants lost, The Patriots beat the Jets seventeen,

613
00:33:36,480 --> 00:33:39,840
Speaker 1: the Commanders and forty Niners one. In the NBA, the

614
00:33:39,960 --> 00:33:44,200
Speaker 1: next lost. The Celtics beat the Wizards on The Warriors lost.

615
00:33:44,480 --> 00:33:47,480
Speaker 1: In hockey. The Devils and Rangers won. Game three of

616
00:33:47,520 --> 00:33:51,160
Speaker 1: the World Series is tonight in Philadelphia. The Astros and

617
00:33:51,480 --> 00:33:54,200
Speaker 1: Phillies are so far even at a game of peace.

618
00:33:54,480 --> 00:33:57,160
Speaker 1: Global News twenty four hours a day on air and

619
00:33:57,440 --> 00:34:01,400
Speaker 1: on Bloomberg Quicktake, powered by more than seven hundred journalists

620
00:34:01,480 --> 00:34:04,600
Speaker 1: nannialists more than a d countries. I'm Michael Barr, and

621
00:34:04,720 --> 00:34:07,960
Speaker 1: this is Bloomberg n alright, Michael, Thanks, it's sixty nine

622
00:34:08,080 --> 00:34:10,080
Speaker 1: on Wall Street. Let's turn to news and science and

623
00:34:10,160 --> 00:34:13,200
Speaker 1: technology now. The Bloomberg n g I T STEM Report

624
00:34:13,320 --> 00:34:15,799
Speaker 1: is brought to you by New Jersey Institute of Technology

625
00:34:16,080 --> 00:34:18,919
Speaker 1: rank the top one hundred national University by US News

626
00:34:18,960 --> 00:34:21,040
Speaker 1: and World Report at number fourteen in the nation on

627
00:34:21,200 --> 00:34:24,279
Speaker 1: Money's Best Colleges list. Learn more at n j I,

628
00:34:24,440 --> 00:34:29,279
Speaker 1: T dot E DU now Here's What's making news and science, technology, engineering,

629
00:34:29,320 --> 00:34:31,960
Speaker 1: and math. Elon Musk is preparing for a round of

630
00:34:32,040 --> 00:34:34,880
Speaker 1: job cuts at Twitter. Bloomberg News has learned the company's

631
00:34:34,920 --> 00:34:37,000
Speaker 1: new owner has asked managers to draw up lists of

632
00:34:37,080 --> 00:34:40,000
Speaker 1: team members who could be let go. Musk has denied

633
00:34:40,040 --> 00:34:42,560
Speaker 1: reports he plans to get rid of seventy five of

634
00:34:42,600 --> 00:34:47,279
Speaker 1: Twitter's dred employees. Challenges are mounting for Hong Kong's major

635
00:34:47,360 --> 00:34:50,600
Speaker 1: financial summit this week, with three top executives pulling out

636
00:34:50,640 --> 00:34:53,440
Speaker 1: and a tropical cyclone approaching. The latest to miss the

637
00:34:53,480 --> 00:34:57,920
Speaker 1: summit is Blackstone President Jonathan Gray, who contracted COVID and

638
00:34:58,120 --> 00:35:00,640
Speaker 1: China has launched the third and fine a module to

639
00:35:00,719 --> 00:35:04,280
Speaker 1: complete its permanent space station, realizing more than a decade

640
00:35:04,440 --> 00:35:07,919
Speaker 1: long endeavor to maintain a constant crude presence in orbit.

641
00:35:08,280 --> 00:35:12,440
Speaker 1: Main Tian joins Wen Tian as the second laboratory module

642
00:35:12,560 --> 00:35:15,920
Speaker 1: for the station. Main Tion weighs in at about twenty tons.

643
00:35:16,320 --> 00:35:19,440
Speaker 1: It will provide space for science experiments in zero gravity

644
00:35:19,680 --> 00:35:22,440
Speaker 1: and airlock for exposure to the vacuum of space, and

645
00:35:22,560 --> 00:35:26,799
Speaker 1: a small robotic arm to support extra vehicular payloads. That's

646
00:35:26,840 --> 00:35:31,440
Speaker 1: the Bloomberg j I. T Stem Report. Amy all right,

647
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Speaker 1: thank you, Nathan, and we are live from the Bloomberg

648
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Speaker 1: Interactive Brokers studios. It is six fifty one on Wall

649
00:35:36,560 --> 00:35:39,200
Speaker 1: Street Time Now to check what's going on in d C.

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00:35:39,400 --> 00:35:42,440
Speaker 1: Some of our top stories in the nation's capital include

651
00:35:42,440 --> 00:35:45,680
Speaker 1: the reaction to the attack on how speaker Nancy Pelosi's husband.

652
00:35:45,680 --> 00:35:48,359
Speaker 1: We're going to get the very latest President Biden cast

653
00:35:48,440 --> 00:35:51,680
Speaker 1: in his mid term ballot before the final campaign stretch.

654
00:35:52,120 --> 00:35:53,560
Speaker 1: And we're gonna take a look at the U S

655
00:35:53,640 --> 00:35:57,160
Speaker 1: relationship with Brazil after Lula da Silva's election. We want

656
00:35:57,160 --> 00:35:59,600
Speaker 1: to get more on these stories from Bloomberg Government reporter

657
00:35:59,680 --> 00:36:03,279
Speaker 1: Emil Wilkins. She joins us. Now, Emily, good Monday morning

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00:36:03,360 --> 00:36:06,080
Speaker 1: to you. Let's start with Nancy Pelosi. That attack on

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00:36:06,160 --> 00:36:09,239
Speaker 1: her husband just a few days ago. Lawmakers have been

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00:36:09,320 --> 00:36:12,480
Speaker 1: voicing concerns about security for weeks. Now, how does this

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00:36:12,640 --> 00:36:16,320
Speaker 1: change the picture? Oh, I mean, Amy that it's it's weeks.

662
00:36:16,520 --> 00:36:21,719
Speaker 1: It's months. It's really since uh January, uh six of one.

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00:36:22,200 --> 00:36:25,440
Speaker 1: You saw a lot of increased threats on lawmakers on

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Speaker 1: their lives, and you have seen a number of cases

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00:36:28,920 --> 00:36:32,560
Speaker 1: like Progressive Privilege EA Paul as well as a Republican

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00:36:32,640 --> 00:36:36,719
Speaker 1: Senator Susan Collins, report that there were various attacks and

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00:36:36,719 --> 00:36:39,560
Speaker 1: attempts on their life and you have seen that some

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00:36:39,719 --> 00:36:43,560
Speaker 1: response within the Capitol hell community. UH. This past summer,

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00:36:44,120 --> 00:36:46,920
Speaker 1: Sergeant of Arms told lawmakers that they could get up

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00:36:46,920 --> 00:36:50,160
Speaker 1: to ten thousand dollars to help billster their personal homes,

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00:36:50,320 --> 00:36:54,680
Speaker 1: installed security cameras, make sure they have shatterproof windows, various

672
00:36:54,760 --> 00:36:57,480
Speaker 1: measures like that. But clearly what we saw in the

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00:36:57,600 --> 00:37:00,279
Speaker 1: case of Pelosi is that it just wasn't enough, and

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00:37:00,360 --> 00:37:03,239
Speaker 1: it really reawakened a lot of these fears that with

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00:37:03,640 --> 00:37:07,279
Speaker 1: five thirty five members of Congress plus the delegates, it

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00:37:07,400 --> 00:37:09,560
Speaker 1: feels like it's only really a matter of time for

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00:37:09,800 --> 00:37:14,120
Speaker 1: something truly tragic happens. We saw this back way back

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00:37:14,200 --> 00:37:15,880
Speaker 1: at the start of the year with UH start of

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00:37:15,920 --> 00:37:19,200
Speaker 1: the decade, really um with Gabrielle Difference being shot. We

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00:37:19,320 --> 00:37:23,040
Speaker 1: had the shooting with that her hit Steve Scaleeze in

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00:37:23,120 --> 00:37:25,800
Speaker 1: the leg um, and every time there are calls to

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00:37:25,960 --> 00:37:28,920
Speaker 1: do more. But it really seems like in the last

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00:37:29,040 --> 00:37:31,680
Speaker 1: two years, we've seen more of a ramping up and

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00:37:31,719 --> 00:37:35,480
Speaker 1: a ramping up of threats onto lawmakers, and I think

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00:37:35,520 --> 00:37:37,880
Speaker 1: there's still a question of what exactly is going to

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00:37:37,960 --> 00:37:39,920
Speaker 1: be done at this point, if we are going to

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00:37:40,000 --> 00:37:43,200
Speaker 1: see more support for lawmakers in the upcoming year and

688
00:37:43,320 --> 00:37:45,839
Speaker 1: spending bill, perhaps, if there are going to be more

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00:37:45,920 --> 00:37:49,359
Speaker 1: security measures. But I think it's from the response you've

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00:37:49,360 --> 00:37:52,600
Speaker 1: seen from lawmakers, there's also an acknowledgement that we are

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00:37:52,920 --> 00:37:56,520
Speaker 1: living in very partisan, very divided times right now in

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00:37:56,600 --> 00:37:59,759
Speaker 1: the US, and that atmosphere is really going to have

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00:37:59,880 --> 00:38:03,640
Speaker 1: to change before some of these threats begin to die down. Yeah,

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00:38:03,680 --> 00:38:05,960
Speaker 1: I wanted to ask just one more question about that,

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00:38:06,200 --> 00:38:09,360
Speaker 1: because as partisan as it is, it does seem like

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00:38:09,440 --> 00:38:13,200
Speaker 1: the lawmakers can agree that there's no place for violence

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00:38:13,400 --> 00:38:17,479
Speaker 1: in these politics. Um, do you anticipate seeing something move

698
00:38:17,640 --> 00:38:19,520
Speaker 1: on the House floor, on the Senate floor, on Capitol

699
00:38:19,600 --> 00:38:23,600
Speaker 1: Hill at all? I mean, it's the potential. At this point.

700
00:38:23,719 --> 00:38:26,320
Speaker 1: Most lawmakers are are pretty focused on the election, so

701
00:38:26,440 --> 00:38:29,440
Speaker 1: there isn't too much chat on legislation, But I think

702
00:38:29,480 --> 00:38:31,399
Speaker 1: there's also a lot of calls that you know, there

703
00:38:31,440 --> 00:38:33,719
Speaker 1: needs to be more civility. You've seen a number of

704
00:38:33,760 --> 00:38:36,600
Speaker 1: Rebublicans come out and condemn violence, but you've also seen

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00:38:36,680 --> 00:38:42,440
Speaker 1: some continue. Republican Congressman Clay Higgins uh promoted a conspiracy

706
00:38:42,520 --> 00:38:46,160
Speaker 1: theory about Flossie and about who the person who attacked

707
00:38:46,200 --> 00:38:49,280
Speaker 1: their home was. Certainly things like that. You know, they

708
00:38:49,320 --> 00:38:52,880
Speaker 1: don't go to cool partisan tentions. Now, this is all

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00:38:52,960 --> 00:38:56,160
Speaker 1: happening just days before the midterm elections Emily, and we

710
00:38:56,239 --> 00:38:59,360
Speaker 1: already know that President Biden has cast his ballot. What

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00:38:59,480 --> 00:39:01,640
Speaker 1: do you say from the polls? What are you hearing?

712
00:39:02,800 --> 00:39:05,759
Speaker 1: So the polls just show an incredibly tight race. The

713
00:39:05,840 --> 00:39:08,960
Speaker 1: boots that we saw from Democrats over the summer has

714
00:39:09,000 --> 00:39:12,439
Speaker 1: basically managed at this point a number of races where

715
00:39:12,600 --> 00:39:15,759
Speaker 1: Biden one by one, the district by ten points, one

716
00:39:15,840 --> 00:39:19,240
Speaker 1: the district by twenty points have now become competitive races

717
00:39:19,320 --> 00:39:22,479
Speaker 1: where Republicans are spending money in and so it doesn't

718
00:39:22,520 --> 00:39:25,759
Speaker 1: look good for Democrats. Certainly, their chances of holding onto

719
00:39:25,800 --> 00:39:28,319
Speaker 1: the House at this point, according to the polling team,

720
00:39:28,480 --> 00:39:31,400
Speaker 1: very very slim. Republicans are likely to pick up but

721
00:39:31,560 --> 00:39:34,880
Speaker 1: probably between a dozen and twenty five different seats according

722
00:39:34,960 --> 00:39:37,719
Speaker 1: to what we've seen from some analysts south there and

723
00:39:37,800 --> 00:39:40,920
Speaker 1: in the Senate and the races where Democrats really needed

724
00:39:41,000 --> 00:39:44,600
Speaker 1: to to hold onto seats like in Nevada, in Georgia

725
00:39:44,719 --> 00:39:47,640
Speaker 1: where they need to flip seats like in Pennsylvania. All

726
00:39:47,719 --> 00:39:50,640
Speaker 1: of those races are becoming so much tighter and closer

727
00:39:50,719 --> 00:39:53,640
Speaker 1: for them. So there's a real question to UH as

728
00:39:53,719 --> 00:39:56,479
Speaker 1: to what's going to happen in Senate Chamber. We could

729
00:39:56,520 --> 00:39:59,920
Speaker 1: easily be seen a government next year that as Republican,

730
00:40:00,000 --> 00:40:03,560
Speaker 1: it is controlling both branches of sorry, both chambers of

731
00:40:03,640 --> 00:40:07,560
Speaker 1: covert Congress rather and then have Biden in the White House.

732
00:40:08,000 --> 00:40:11,320
Speaker 1: Are there any particular races that you're keeping your eye on,

733
00:40:11,480 --> 00:40:17,919
Speaker 1: Emily oh Man A lot um. There are a number

734
00:40:17,960 --> 00:40:20,240
Speaker 1: of really interesting ones. I was, of course in Nevada

735
00:40:20,320 --> 00:40:22,600
Speaker 1: the other week, and so I'm keeping my eye on

736
00:40:22,680 --> 00:40:26,400
Speaker 1: the three house races there. It's interesting because usually when

737
00:40:26,440 --> 00:40:28,920
Speaker 1: you look at large metropolitan areas, there's maybe one or

738
00:40:28,960 --> 00:40:32,920
Speaker 1: two competitive races. It's interesting to see three competitive races

739
00:40:33,120 --> 00:40:35,920
Speaker 1: in one city. And so I think that might be

740
00:40:36,040 --> 00:40:37,920
Speaker 1: a really good bell weather as to how things go,

741
00:40:38,160 --> 00:40:41,560
Speaker 1: particularly because Nevada has been hard hit by the economy,

742
00:40:42,000 --> 00:40:44,680
Speaker 1: um and that's really the number one issue for voters

743
00:40:44,800 --> 00:40:47,360
Speaker 1: this selection. As much as Democrats are talking about a

744
00:40:47,440 --> 00:40:50,360
Speaker 1: portion in January six and how much that matters to

745
00:40:50,440 --> 00:40:53,480
Speaker 1: a lot of their base voters. UM Inflation really has

746
00:40:53,560 --> 00:40:57,160
Speaker 1: continued to be the number one issue across the board UM.

747
00:40:57,280 --> 00:40:59,480
Speaker 1: And so I think I'll go ahead and say and

748
00:40:59,560 --> 00:41:01,799
Speaker 1: say that the vat a racist should really tell us

749
00:41:02,040 --> 00:41:04,640
Speaker 1: a lot come election night. And we're gonna be watching

750
00:41:04,680 --> 00:41:06,880
Speaker 1: the turnout as well, especially with the early voting and

751
00:41:06,920 --> 00:41:09,239
Speaker 1: the mail in balance that's going to also tell the tale.

752
00:41:09,560 --> 00:41:11,920
Speaker 1: And I wanted to shift to more global politics. Now.

753
00:41:12,000 --> 00:41:16,200
Speaker 1: President Biden has already congratulated Louise and CEO Lula da

754
00:41:16,280 --> 00:41:19,440
Speaker 1: Silva on his election win in Brazil. I want to

755
00:41:19,520 --> 00:41:22,480
Speaker 1: ask you what we can figure this would mean for

756
00:41:22,640 --> 00:41:26,960
Speaker 1: US relations with Brazil. Well, they'll probably get a little

757
00:41:27,000 --> 00:41:30,880
Speaker 1: bit warmer. Of course. The current president of Bulsonaro, he

758
00:41:31,040 --> 00:41:33,960
Speaker 1: was an ally of former President Trump. He never recognized

759
00:41:34,000 --> 00:41:38,239
Speaker 1: Biden's election victory and continue to question it when he

760
00:41:38,440 --> 00:41:43,239
Speaker 1: did meet Biden. Obviously that that didn't really endear him

761
00:41:43,520 --> 00:41:47,359
Speaker 1: uh to Biden. And so you have Da Silva who

762
00:41:47,520 --> 00:41:49,680
Speaker 1: is probably a little bit more friendly to Biden, friendly

763
00:41:49,719 --> 00:41:52,920
Speaker 1: to Biden's policies. Listening to the speech that he made

764
00:41:53,000 --> 00:41:55,279
Speaker 1: last night, he echoed a lot of themes that we've

765
00:41:55,320 --> 00:41:58,520
Speaker 1: actually kind of heard from Biden. This putting aside partisanship,

766
00:41:58,640 --> 00:42:02,719
Speaker 1: this working to read il BRASILTA to make it better again. Um,

767
00:42:02,920 --> 00:42:06,359
Speaker 1: And so that was things that that we're hearing from him,

768
00:42:06,560 --> 00:42:09,200
Speaker 1: and it kind of singles, um, you know that that

769
00:42:09,360 --> 00:42:12,600
Speaker 1: he invited might wind up being a little bit closer

770
00:42:12,680 --> 00:42:16,480
Speaker 1: of allies. Alright, Bloomberg Government reporter Emily Wilkins, thank you

771
00:42:16,640 --> 00:42:19,120
Speaker 1: very much. Always a pleasure, and you can read more

772
00:42:19,200 --> 00:42:22,200
Speaker 1: about these stories on Bloomberg dot com or on the

773
00:42:22,239 --> 00:42:25,200
Speaker 1: Bloomberg terminal, and a reminder, follow all of the latest

774
00:42:25,320 --> 00:42:28,800
Speaker 1: on Bloomberg Radio in Washington. Bloomberg ninety nine one and

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00:42:28,880 --> 00:42:31,239
Speaker 1: one oh five point seven f m h D two

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00:42:31,520 --> 00:42:35,200
Speaker 1: features lower SMP futures down twenty one, DAL futures down one,

777
00:42:35,960 --> 00:42:40,000
Speaker 1: NAZDAC futures down eight three, the tenure treasury down seven

778
00:42:40,080 --> 00:42:43,160
Speaker 1: thirty seconds, the yield at four point oh four percent.

779
00:42:43,400 --> 00:42:46,520
Speaker 1: Bloomberg Surveillance with Lisa Brahma, Wits and Jonathan Farrow coming

780
00:42:46,600 --> 00:42:49,440
Speaker 1: up next along with Nathan Hagar. I'm any Morris. This

781
00:42:49,640 --> 00:42:50,200
Speaker 1: is Bloomberg