Speaker 1: Live from the Bloomberg Interact at Burgers Studio hosts is
Speaker 1: Bloomberg day Break for Monday, September two. Coming up the Shower,
Speaker 1: a last goodbye. Britain prepares for the funeral of Queen
Speaker 1: Elizabeth the second. We are live in London with special coverage.
Speaker 1: President Biden said US forces would defend Taiwan if there
Speaker 1: was an unprecedented attack, and the Fed Bank of England
Speaker 1: and Bank of Japan all make rate decisions this week.
Speaker 1: The U in General Assembly is back in New York City,
Speaker 1: plus all of Puerto Rico was without power after Hurricane
Speaker 1: For you want to crash the shore, I'm Michael bar
Speaker 1: More Ahead, I'm John Stashower. Big day in New York.
Speaker 1: Sports wins for the Jets, Giants, Mets, and Yankees. Aaron
Speaker 1: Judge Omber twice to reach fifty nine. That's all straight
Speaker 1: Ahead on Bloomberg day Break on Bloomberg eleven three on
Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh
Speaker 1: six one, Boston, Bloomberg nine sixty, Francisco, Syrius x M
Speaker 1: one nineteen and around the world on Bloomberg, rady O
Speaker 1: dot com and via the Bloomberg Business Act. Good morning.
Speaker 1: I'm Nathan Hagar and I'm Karen. Moscow and US Dock
Speaker 1: Index futures are lower this morning. We're coming up to
Speaker 1: five oh one on Wall Street, and we check the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg
Speaker 1: right now, S and P futures are down thirty two
Speaker 1: points down, futures down two hundred forty, NASDAG futures down
Speaker 1: one hundred sixteen. We are waiting for treasuries to begin
Speaker 1: trading today as markets in Japan and London are closed
Speaker 1: for holidays. NIMEX screwed oil is down one and a
Speaker 1: half percent at a dollar twenty five at eighty three
Speaker 1: dollars eighty six cents of barrel comes. Gold is down
Speaker 1: three quarters of a percent, or twelve dollars forty cents
Speaker 1: at sixteen seventy one. Ten announced the euro point nine
Speaker 1: nine seven seven against the dollar. Nathan, Karen, We'll have
Speaker 1: more on the markets in a minute, but we begin
Speaker 1: this morning with the UK bidding farewell to its longest
Speaker 1: serving monarch. Leaders from around the world today are gathered
Speaker 1: in London for the funeral of Queen Elizabeth the Second
Speaker 1: Bloomberg's leanne Garn's is outside Westminster Abbey and brings us
Speaker 1: the very latest. Global leaders and dignitaries are gathering in
Speaker 1: London for the state funeral of Queen Elizabeth the Second.
Speaker 1: Around two thousand people will attend the service at Westminster Abbey,
Speaker 1: including Prince George and Princess Charlotte, who will walk alongside
Speaker 1: the Prince and Princess of Wales. The funeral will mark
Speaker 1: the end of ten days of National Morning, during which
Speaker 1: hundreds of thousands of people killed. To see Queen Elizabeth
Speaker 1: lying in state at Westminster Hall, the service will include
Speaker 1: a reading from the Prime Minister List Trust, the hymn
Speaker 1: Lord's My Shepherd, and the Archbishop of Canterbury, Justin Welby,
Speaker 1: will give the sermon. On Sunday night, the UK held
Speaker 1: a moment of silence for the only monarch most of
Speaker 1: us have known. Her seventy year reign began with the
Speaker 1: UK's recovery after World War Two and ended with the
Speaker 1: appointment of her fifteenth Prime Minister. Queen Elizabeth the Second
Speaker 1: ascended to the throne in nine teen fifty two and
Speaker 1: died at the age of nineties six in Westminster Abbey.
Speaker 1: I'm Leanne Geren's Bloomberg Daybreak. Leanne, thank you, and we
Speaker 1: will be live from Westminster Abbey throughout the morning here
Speaker 1: on Bloomberg Daybreak. Join us for live coverage of the
Speaker 1: Queen's funeral coming up less than an hour from now,
Speaker 1: Well Nathan. President Biden is among the dignitaries at today's
Speaker 1: state funeral. But before he left for London, the President
Speaker 1: gave a wide ranging interview to CBS IS sixty minutes.
Speaker 1: He addressed recent tensions with China over Taiwan. There's a
Speaker 1: one China policy that Taiwan makes their own judgments about
Speaker 1: their independence. We are not moving, We're not encouraging or
Speaker 1: being independent. We're not That's their decisions. But would US
Speaker 1: forces defend the iowant, Yes, if in fact there was
Speaker 1: an unprecedented attack. The President also says the pandemic is over,
Speaker 1: while warning the US still faces problems with COVID. Correspondent
Speaker 1: Scott Pelley also confronted the President about inflation. That's the
Speaker 1: highest inflation rate, Mr President, in forty years. I got that. Well,
Speaker 1: guess what we are. We're in a position where, for
Speaker 1: the last several months it has its spiked and has
Speaker 1: just barely has been basically even. President Biden also called
Speaker 1: it totally irresponsible for a former president Trump to keep
Speaker 1: classified documents at his home in Florida and said he'll
Speaker 1: decide after the mid terms whether he'll run for re election.
Speaker 1: Our listeners in Washington can hear sixty minutes every Sunday
Speaker 1: night at ten on Bloomberg. Turning to markets now, Karen,
Speaker 1: US futures are lower once again as we begin a
Speaker 1: new trading week, the SMP five hundreds coming off a
Speaker 1: loss of almost five percent last week, while two year
Speaker 1: treasury yields into the day at three point eight seven percent.
Speaker 1: Brian Railing is head of Global fixed income Strategy at
Speaker 1: Wells Fargo Investment Institute. Yeah, well, the pick tinker market
Speaker 1: has been giving alarm bells here since June with the
Speaker 1: yield curve and verden And you know that inversion maintains itself.
Speaker 1: Um uh. You know if you look at just two
Speaker 1: to tens almost forty based these points inverted there, so
Speaker 1: um it's saying that rough times head for the economy.
Speaker 1: Wells fargoes Brian Railing thinks the Fed will eventually win
Speaker 1: its fight against inflation. Well Nathan. We're also seeing weakness
Speaker 1: this morning in Asia. Chinese stocks listed in Hong Kong
Speaker 1: are in a bear market territory. Beijing's COVID zero strategy
Speaker 1: and a property market slump are dampening sentiment. Losses for
Speaker 1: the hang sing China Enterprises Index have now reached a
Speaker 1: level that marks the start of a bear market. Well.
Speaker 1: The direction of markets this week, Karen may well be
Speaker 1: determined by some key policy decisions around the world. The
Speaker 1: FED leads the parade. In the coming days, we get
Speaker 1: a preview from Bloomberg Economics correspondent Michael McKee. Interest rates
Speaker 1: lead the news this week, with twelve central banks set
Speaker 1: to change policy on Wednesday and Thursday. The FED, the
Speaker 1: Bank of England, and the Swiss National Bank are the biggest,
Speaker 1: and the most market attention will be on the FED.
Speaker 1: US policymakers are forecast to raise the U S benchmark
Speaker 1: interest rate by three quarters percentage point to arrange between
Speaker 1: three and three and a quarter percent. In the UK,
Speaker 1: forecasters think the bank will raise that nation's base rate
Speaker 1: by half a percent to two and a quarter percent,
Speaker 1: but still rising inflation has some bedding. The b o
Speaker 1: E will raise by three quarters Switzerland is forecast to
Speaker 1: see it's benchmark turn positive, rising to half a percent
Speaker 1: from a negative quarter percent. Back In the US, the
Speaker 1: week is light on economic data, with housing starts on
Speaker 1: Tuesday and jobless claims Thursday the major numbers. Michael McKee
Speaker 1: Bloomberg Daybreak Right, Mike, thank you. The White House, of course,
Speaker 1: will be closely watching this week's fan decision, and economic
Speaker 1: advisor Jared Bernstein says, even though inflation is uncomfortably high,
Speaker 1: the fan has helped to cool the housing market. We
Speaker 1: know that the federal reserves in a hiking cycle to
Speaker 1: try to dampen those inflationary pressures as they should be.
Speaker 1: We know that's cooling off an overheated housing market. And
Speaker 1: White House Economic advisor Jared Bernstein made the comments on
Speaker 1: Funk's News Sunday. Catch the program every week on Bloomberg Radio.
Speaker 1: The prospect of higher interestrates is affecting cryptocurrencies. This morning,
Speaker 1: Bitcoin is on the verge of sinking to its lowest
Speaker 1: level since Right now, bitcoins trading at about eighteen thousand,
Speaker 1: four hundred thirty dollars SMP futures are down thirty points down.
Speaker 1: Futures down two twenty six and NASTAC futures are lower
Speaker 1: by a hundred seven points. Straight ahead, your latest local
Speaker 1: headlines and a check of sports. This is Bloomberg and
Speaker 1: it's five oh seven on Wall Street where it's seventy
Speaker 1: one degrees in Central Park. We've got an accident investigation
Speaker 1: close to the northbound Connecticut Turnpike between Eggsits eight and nine.
Speaker 1: Details coming up in traffic. First, Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. The United Nations General
Speaker 1: Assembly is back in Manhattan and sense COVID restrictions have ease.
Speaker 1: It will mean the return of gridlock alerts. According to
Speaker 1: the NYPD, will be the largest UN General Assembly in
Speaker 1: recent years, as the city will welcome about a hundred
Speaker 1: forty heads of state. The police say that there is
Speaker 1: no threat. However, thousands of officers will be on you
Speaker 1: in patrol this weekend. More buses dumped migrants in northern cities.
Speaker 1: Buses that arrived un announced, sent mostly by the Texas governor.
Speaker 1: More busses of migrants and asylum seekers arrived in New
Speaker 1: York City. Mayor Eric Adams is begging four heads up
Speaker 1: and to work with Texas Governor Greg Abbott well sending them,
Speaker 1: sending them on a forty five hour ride without any
Speaker 1: proper food, water, or medical care. We reached out and
Speaker 1: stated that let's coordinate and broke together so we can
Speaker 1: deal with this crisis together. They refused to do so.
Speaker 1: Adam spoke on ABC's This Week, which can be heard
Speaker 1: Sundays on Bloomberg. Meanwhile, Republican Florida governing around the Santis
Speaker 1: slam the number of migrants crossing the southern border, praising
Speaker 1: flying fifty migrants from Texas unannounced to Martha's Vineyard and
Speaker 1: dropping them in the sanctuary jurisdiction. They said they're a
Speaker 1: sanctuary city. They say that nobody, no human being, is illegal.
Speaker 1: Everyone's well. Governor de Santis traveled to Green Bay, Wisconsin
Speaker 1: yesterday to stump for Republicans and tight election races. Beyond
Speaker 1: Martha's Vineyard, migrants are also being sent to Chicago and Washington,
Speaker 1: d C. Hurricane Fiona is bearing down on the Dominican
Speaker 1: Republic after knocking out the power grid and unleashing floods
Speaker 1: and landslides in Puerto Rico, where the governor said the
Speaker 1: damage was kintastrophic. Governor Pedro Pier Lucy says, although Fiona
Speaker 1: is nowhere near as fierce as twenty seventeen Hurricane Maria,
Speaker 1: which cured literally three thousand people there, the islands emergency
Speaker 1: response units are taking no chances. We're much in a
Speaker 1: much better position than we were five years ago. The
Speaker 1: storm is forecast unleashed torrential rain across Puerto Rico today,
Speaker 1: according to Governor Perlucy, a new NBC poll shows President
Speaker 1: Biden's approval rating is at forty five percent. That's the
Speaker 1: highest sense October Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake Power by more than
Speaker 1: twenty seven hundred journalists analysts more than a hundred twenty counts.
Speaker 1: He's Michael barn This is Bloomberg, Nathan. Thank you, Michael.
Speaker 1: Coming up to five ten on Wall Street time for
Speaker 1: the Bloomberg Sports Up Day. Good Morning, John Stash Hourday Morning, Nathan.
Speaker 1: A day in New York sports unlike any since two
Speaker 1: thousand nine. The Jets, Giants, Mets, and Yankees all one.
Speaker 1: None more surprisingly than the Jets. They lost thirteen in
Speaker 1: a row. In September. They trailed in Cleveland by thirteen
Speaker 1: with less than two minutes to play. Suddenly a Joe
Speaker 1: Flacco sixty six yard touchdown pass to Corey Davis, a
Speaker 1: recovery but on side kick in a game winning TV
Speaker 1: twenty five seconds to go good Jets down by six.
Speaker 1: Clacom takes the shotguns, stop and drop. What's up? The
Speaker 1: Sea fives touchdown God Louison's US, but Jets to a
Speaker 1: point after a whey but taking the league esp seven
Speaker 1: Jets thirty one, Browns thirty Giants or two and oh.
Speaker 1: Graham Gonna kicked four field goals, the last was fifty
Speaker 1: six yards three. It happenutes to go. Giants beat Airline
Speaker 1: that met Life nineteen to sixty and the only other
Speaker 1: two and oh teams or Tampa Bay Miami in Kansas
Speaker 1: City last night, Green Baby Chicago big injury yesterday, Forts
Speaker 1: quarterback Trade Lands heard his ankle done for the year,
Speaker 1: so Jimmy Garoppolo, who the Niners decided to keep as
Speaker 1: a backup, gets his old job back. Yankees able to
Speaker 1: salvage one in Milwaukee. They trailed early, but one twelve
Speaker 1: to eight. They hit five home runs. Anthony Rizzo and
Speaker 1: his return to the lineup Aaron Hicks rookie is Waldo
Speaker 1: Cabrera and yes two more for Aaron Jodge solo shot
Speaker 1: to right field and the third inning solo shot to
Speaker 1: left and the seventh He's at fifty nine homers sixteen
Speaker 1: games left, Judge only two away from tying Roger Marrits.
Speaker 1: Mats finished four games weep with the Privates seven to three.
Speaker 1: The Mets used four pitchers. They combined for twenty strikeouts
Speaker 1: that ties the single game MLB record. John Stashward Bloomberg
Speaker 1: Sports Nathan, Thank you John. Right now, SMP futures are
Speaker 1: down thirty points down, futures down two D twenty eight
Speaker 1: and NASTAC futures are lower by a hundred seven points.
Speaker 1: US treasuries trading is on hold for holidays in Japan
Speaker 1: and in the UK. Had the state funeral the Queen
Speaker 1: Elizabeth the second. This is Bloomberg Bloomberg eleven three oh weather.
Speaker 1: Increasing clouds today, some showers and thundershowers developing this afternoon.
Speaker 1: Highs in the upper in the mid eighties, will be
Speaker 1: in the low eighties under sunshine tomorrow and Wednesday. Right
Speaker 1: now in Central Park Markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Out and at Bloomberg Quicktake. This is a Bloomberg
Speaker 1: Business Flash and I'm Karen Moscow. And stocks are lower
Speaker 1: and a conscious start to the day as investors away
Speaker 1: a slew of interest rate decisions in the days ahead
Speaker 1: and after global equities notched their worst week since hitting
Speaker 1: this year's low in June. And we checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg. Right now,
Speaker 1: futures are lower, SNP futures down thirty four points down,
Speaker 1: futures down two hundred fifty six, and NASDACK futures down
Speaker 1: one hundred eighteen. The decks in Germany's down six tents
Speaker 1: of upper cent. We're waiting for treasuries to begin trading
Speaker 1: today as markets in Japan and London are closed. The
Speaker 1: nime X screwed oils down one and a half percent
Speaker 1: on a dollar thirty one and eighty three dollars eighty
Speaker 1: cents of Barrel Comic School down seven tenths per cent
Speaker 1: or eleven dollars twenty cents at sixteen seventy two thirty
Speaker 1: announced the euro point seven six against the dollar the
Speaker 1: end one forty three point four five. I'm looking at bitcoin.
Speaker 1: It's down amost seven percent. It's at eighteen thousand, four
Speaker 1: hundred dollars. And that's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world. Michael,
Speaker 1: thank you very much, Karen. Today is the state funeral
Speaker 1: for Queen Elizabeth A second millions will say a final goodbye.
Speaker 1: President Blight and First Lady are in London for the funeral,
Speaker 1: and of course you'll hear the funeral live on Bloomberg
Speaker 1: starting around six am. All of Puerto Rico is without
Speaker 1: power after Hurricane Fiona crass shore Sunday. The storm hit
Speaker 1: the island as a Category one hurricane. In the NFL,
Speaker 1: the Giants and Jets won. The Patriots and forty Niners
Speaker 1: were also winners. The Ravens lost. Baseball, the Yankees beat
Speaker 1: the Brewers twelve eight. Aaron Judge, who is fifty eighth
Speaker 1: and fifty ninth home runs of the season to move
Speaker 1: within in two of Roger Meras is American League record.
Speaker 1: The Mats one, along with the Orioles. The Nationals, A's
Speaker 1: and Giants lost. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts more than a hundred
Speaker 1: twenty countries. I'm Michael Barr and this is Bloomberg, Nathan.
Speaker 1: Thank you, Michael. It is five nineteen on Wall Street
Speaker 1: ten nineteen in London, live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak and this morning the dignitaries are arriving,
Speaker 1: including leaders from around the world, for the culmination of
Speaker 1: more than a week of official morning for Queen Elizabeth.
Speaker 1: This second, let's go live to Westminster Abbey ahead of
Speaker 1: the Queen's state funeral. Bloomberg's Leanne Garon's is there with
Speaker 1: the very latest LeeAnne. Just an incredible scene we're watching
Speaker 1: along with you. Can you sort of set it for
Speaker 1: us and what we're expecting when this state funeral begins
Speaker 1: in the next hour. Good morning to you, Nathan, and
Speaker 1: as you said, an incredible scene. Most of the seats
Speaker 1: of Westminster Abbey are now filling up as the world
Speaker 1: prepares to say their final goodbye to Queen Elizabeth, the
Speaker 1: UK's longest serving monarch. We actually just saw the b
Speaker 1: s drive past us about ten minutes ago. We now
Speaker 1: know that the US President Joe Biden, has taken his
Speaker 1: seat inside of the abbey ahead of the funeral that
Speaker 1: does begin at eleven o'clock. And a little earlier we
Speaker 1: saw a military parade that was taking place, a procession
Speaker 1: that was moving down to make its way towards Westminster Hall.
Speaker 1: Now that is where the Queen has been lying in
Speaker 1: state for the last four and a half days, and
Speaker 1: we will see members of the Royal Marines actually pull
Speaker 1: her coffin towards Westminster Abbey. The carriage will be on
Speaker 1: top of that and it will be eight minutes to
Speaker 1: the abbey. It sounds so peaceful from where you are,
Speaker 1: and I think I can just make out the tolling
Speaker 1: of the bell. I've heard that they're ringing the bell
Speaker 1: at Westminster Abbey uh once every minute for nineties six
Speaker 1: minutes to mark each year of the queen's life. Just
Speaker 1: described for us what it's like, what it's been like
Speaker 1: to be in London over the last week when we've
Speaker 1: seen just this this incredible outpouring of public grief for
Speaker 1: the queen. One thing that has been momentous has been
Speaker 1: the queue that we've seen. We've just seen hundreds of
Speaker 1: thousands of people queue up to view the Queen Lyne
Speaker 1: in state in Westminster Hall. And on the very first
Speaker 1: day that c began, Nathan I actually went to go
Speaker 1: and speak to people and they said to me, we've
Speaker 1: got four hours in the queue. That's nothing compared to
Speaker 1: the seventy years Queen Elizabeth dedicated to us. On the
Speaker 1: last day, I've been standing outside as the last people
Speaker 1: made their way through that viewing hall to see the
Speaker 1: Queen lying in state and they said to me, we've
Speaker 1: been here for fifteen hours, but it was still worth it.
Speaker 1: So this outpouring of love that we have seen, and
Speaker 1: about two million people are predicted to line the streets
Speaker 1: of London today to pay their final respects to the Queen,
Speaker 1: and this is going to be a huge operation for
Speaker 1: the police here in London. The Metropolitan Police had locked
Speaker 1: down this area in the last half an hour as
Speaker 1: we do see what they're calling this a ring of
Speaker 1: steel now surrounding the abbey and monuments here in London
Speaker 1: because we've got so many dignitaries, foreign leaders and foreign
Speaker 1: royals and of course our very own royal family. Yeah,
Speaker 1: I was going to say that with so many world
Speaker 1: leaders gathered there. It's seen one headline describing it as
Speaker 1: almost a quasi un General Assembly that was, you know,
Speaker 1: still getting underway in New York. But with so many
Speaker 1: leaders now there to pay their respects to Queen Elizabeth,
Speaker 1: I have to imagine that this is just an incredible
Speaker 1: security event, if not just a moment of grief for
Speaker 1: this country. Well, this is probably the biggest security event
Speaker 1: we've ever seen here, and that's something that the London
Speaker 1: Merceditkan has said. He said it surpasses the twenty twelve
Speaker 1: Olympic Games that were held here in London, and it
Speaker 1: is also bigger than the Platinum Jubilee which was just
Speaker 1: a three months ago, and Kayton William's wedding was a
Speaker 1: huge event in London. I remember going out on the streets,
Speaker 1: but this is all of that wrapped into one. Tens
Speaker 1: of thousands of police officers on the ground, Nathan, I
Speaker 1: can't tell you how many police officers I can see
Speaker 1: as I sit here and we are waiting for the
Speaker 1: Queen to be moved to Westminster Abbey. There's helicopters flying
Speaker 1: over ahead, and um, it's just a remarkable moment for
Speaker 1: the police team in London. They have orchestrated this for
Speaker 1: years in the making, and we also have a lot
Speaker 1: of the armed forces on the street and every single place.
Speaker 1: Force from across the country have gathered together and are
Speaker 1: working together to make this as safe as possible. Incredible
Speaker 1: undertaking that gets underway in just a little more than
Speaker 1: a half hour's time, with the dignitaries now pretty much
Speaker 1: in their seats now and we await the procession of
Speaker 1: Queen Elizabeth to Westminster Abbey for that state funeral. Stay
Speaker 1: with Bloomberg Daybreak. We will be bringing you special extended
Speaker 1: coverage of the Queen's funeral right here on Bloomberg Radio.
Speaker 1: Ahead of that, it's just about five on Wall Street.
Speaker 1: We want to turn to the market sketches set for
Speaker 1: this neutral eating week. For that, we're joined by Lori Calvacina,
Speaker 1: head of US Equity Strategy at RBC Capital Markets. Lorie,
Speaker 1: great to speak with you. As always, of course, a
Speaker 1: lot of the focus this week is going to be
Speaker 1: on what the central banks do, particularly the Federal Reserve,
Speaker 1: as we watch stocks around the world continue to fall.
Speaker 1: Have market Westminster, Andy, what we can expect today is.
Speaker 1: The Queen will be escorted the coffin draped in the
Speaker 1: Royal standard, carried on the state gun carriage. The Royal
Speaker 1: Marines will lead that procession around Parliament Square behind scenior
Speaker 1: members of the royal family, including her children and the King.
Speaker 1: The procession will enter the great West door of the
Speaker 1: Abbey at exactly eleven o'clock and that will mark the
Speaker 1: start of the funeral. Bloomberg leanne Garan. So we'll be
Speaker 1: with us live all morning and stay with us for
Speaker 1: special coverage of the Queen's funeral in just a few
Speaker 1: minutes right here on Bloomberg Daybreak mccaren. President Biden is
Speaker 1: among the dignitary he's attending the state funeral. But before
Speaker 1: he left for London, the President gave a wide ranging
Speaker 1: interview to CBS is Scott Pelley on sixty minutes. They
Speaker 1: discussed recent tensions with China over Taiwan. Would US forces
Speaker 1: defend the island, Yes, if in fact there was an
Speaker 1: unprecedented attack. Well afterwards, a White House official said US
Speaker 1: policy of strategic ambiguity regarding Taiwan hasn't changed. President Biden
Speaker 1: also talked about his intention to run for president again
Speaker 1: in four, but it's just an attention. But as it
Speaker 1: a firm decision that I've run again, Veaptor managed to
Speaker 1: be seen and President says the decision while on that
Speaker 1: will come after November's mid terms. The President also made
Speaker 1: news saying he expects the US to control inflation and
Speaker 1: avoid a recession. He also thinks the COVID nineteen pandemic
Speaker 1: is over. Bloomberg listeners in Washington can hear sixty minutes
Speaker 1: every Sunday night at ten on Bloomberg. Well, we turned
Speaker 1: to the markets now, Nathan, and US futures are lower
Speaker 1: as he began a neutral rating week. The S and
Speaker 1: P five hundred is coming off a loss of almost
Speaker 1: five percent last week, and we're seeing weekness in Asia
Speaker 1: at Chinese stocks listed in Hong Kong and bear market territory. Well,
Speaker 1: this week's big market moving event comes Wednesday, Karen. That
Speaker 1: is when we get the Federal Reserve's latest policy decision.
Speaker 1: Chairman J. Powell is expected to raise interest rates by
Speaker 1: either seventy five or one hundred basis points, and the
Speaker 1: prospect of higher rates is impacting cryptocurrencies. This morning, Nathan
Speaker 1: bitcoins on the verge of sinking to its lowest level
Speaker 1: since twenty and checking bitcoin right now, it is moving lower.
Speaker 1: It's down more than six and a half percent. It's
Speaker 1: at eighteen thousand, four hundred dollars and again futures are
Speaker 1: also lower. SNP futures down thirty seven points down, futures
Speaker 1: down two hundred eighty one and NASDAG futures down one
Speaker 1: hundred twenties seven. The decks in Germany's down nine tenths
Speaker 1: of upper cent and the CAC in Paris is down
Speaker 1: one point six percent nine next, Scrude oil low are
Speaker 1: down about two percent. It's down a dollar sixty eight
Speaker 1: at eighty three dollars forty three cents a barrel. Comics
Speaker 1: gold down three quarters of a percent on twelve dollars
Speaker 1: eighty cents at sixteen seventies seventy an ounce. We are
Speaker 1: waiting for treasuries to begin trading today as markets in
Speaker 1: Japan and London are closed. Taking a look at currencies,
Speaker 1: the euro at point seven three against the dollar, British
Speaker 1: pound one point one three six five and the end
Speaker 1: at one forty three point four six. Straight ahead your
Speaker 1: latest local headlines, plus a check of sports, and this
Speaker 1: is bloom. Thank you, caring. It's five thirty three on
Speaker 1: Wall Street where at seventy one degrees in Central Park.
Speaker 1: Still dealing with the accident investigation in Stamford. Northbound Connecticut
Speaker 1: Turnpike closed at exit eight. Details coming up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Michael, thank you very much, Nathan.
Speaker 1: The United Nations General Assembly is back in Manhattan and
Speaker 1: sends COVID restrictions have ease. It will mean the return
Speaker 1: earn of gridlock alerts. According to the NYPD, will be
Speaker 1: the largest UN General Assembly in recent years, and the
Speaker 1: city will welcome about a hundred forty heads of state.
Speaker 1: Police say there is no threat, however, thousands of officers
Speaker 1: will be on UN patrol. The border crisis reaching national
Speaker 1: headlines last week when Florida governing around the Santis started
Speaker 1: two planes the shuttle migrants from Texas to Martha's Vineyard,
Speaker 1: with many of those people saying they had not been
Speaker 1: told where they were heading. In the past weeks. Texas
Speaker 1: Governor Gregg Abbott sends bus loads of migrants on nearly
Speaker 1: two day bus trips to New York City without notice
Speaker 1: or a coordination to officials there. New York City Mayor
Speaker 1: Eric Adams says the city will always be willing to
Speaker 1: help new arrivals pursue the American dream, but slam the
Speaker 1: Republican governor's tactics. That is what crisis calls for. It
Speaker 1: calls for coordination. There was no coination at all with
Speaker 1: Governor Abbott and Governor Desantists just wanted to use this
Speaker 1: political ploy instead of understanding these are people, these are families,
Speaker 1: These are human beings. May Or Random spoke on ABC's
Speaker 1: This Week, which can be heard Sundays on Bloomberg. All
Speaker 1: of Puerto Rico is without power after Hurricane Feeling, a
Speaker 1: crash to sure Sunday. The storm hit the island as
Speaker 1: a Category one hurricane. President Biden declared a state of
Speaker 1: emergency in Puerto Rico. President Biden's approval rating hit fort
Speaker 1: and a new NBC pole as a three point increase
Speaker 1: over in August survey. Ukrainian President Voladimir Zelenski says there
Speaker 1: would be no let up after a series of Ukrainian
Speaker 1: victories taking cities and towns back from Russian troops. Zelenski
Speaker 1: said there would be no lull until all of Ukraine
Speaker 1: is freed. Meanwhile, Russian shelling hit cities and towns across
Speaker 1: a wide stretch of Ukraine over the weekend. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quickday,
Speaker 1: powered by more than twenty seven hundred journalists analysts in
Speaker 1: more than a hundred twenty countries. On Michael bar This
Speaker 1: is Bloomberg Naked. Thank you, Michael, five thirty five on
Speaker 1: Wall Street. Time for the Bloomberg Sports Update. Here's John,
Speaker 1: Thanks Nathan, so far, so good, and the Brian Dabole Era.
Speaker 1: The Giants in their new coach at two and oh
Speaker 1: Daniel Jones ten past four Graham Gado field goals in
Speaker 1: nineteen sixteen win at MetLife over Carolina, thrilling win for
Speaker 1: the Jets, the first team in twenty one years to
Speaker 1: win despite Trilling by two touchdowns with two minutes to play.
Speaker 1: Joe Flacco a sixties six yard TV pass to Corey
Speaker 1: Davis after the recovery of an onside kick Flacko through
Speaker 1: the game winner a rookie Garrett Wilson and the Jets
Speaker 1: one in Cleveland thirty one thirty, ending their thirteen game
Speaker 1: September losing streak not the only come back. Miami trailed
Speaker 1: in Baltimore by three touchdowns in the fourth quarter and
Speaker 1: rally to win as two a tongue of Bayola through
Speaker 1: six TV passes. Arizona trailed in Vegas by sixteen and
Speaker 1: the fourth The Cardinals tied the game on the final
Speaker 1: play of regulation and one in overtime on a fifty
Speaker 1: nine yard fumble return at City failed. Jakob Graham got
Speaker 1: fifteen ounce. Thirteen were strikeouts Mets to meet the pirvate
Speaker 1: seven three. They tied a major league record a combined
Speaker 1: twenty strikeouts in the game in Milwaukee Big Day in
Speaker 1: the first suit of Roger Marrett two old swing on
Speaker 1: and hit in the air to deep right sun of
Speaker 1: eod that is high d us far us gone and
Speaker 1: the second deck that is a judge in blast number
Speaker 1: of fifty eight on the year. As he gets closer
Speaker 1: to the American League, Rutger on w F A N
Speaker 1: and later Aaron Judge holmered again Yankee Pete Brewers twelve
Speaker 1: to eight, and Judge, now with fifty nine homers, comes
Speaker 1: home for the next six six games just two away
Speaker 1: from There's John stash Award, Bloomberg Sports Nathan, Thank you John.
Speaker 1: It's five thirty seven on Wall Street. Time for the
Speaker 1: Tri State Business Report. Here's Bloomberg's head Cory. Almost three
Speaker 1: years after COVID rocked New York's real estate industry, it's
Speaker 1: starting to recover. The Times reports a glut of luxury
Speaker 1: condos that saturated the Manhattan market before the pandemic has
Speaker 1: largely been sold. Sale and rental prices have exceeded twenty
Speaker 1: nineteen levels, with rents continuing to break records. Good news
Speaker 1: from Manhattan office landlords. Physical building occupancy went up nearly
Speaker 1: scent for the weekend in September, according to the Castle
Speaker 1: Systems Back the Work Barometer. The post Labor day jump
Speaker 1: was a huge increase over Castle's tally of thirty eight
Speaker 1: percent from the previous week. Home health aids and their
Speaker 1: advocates are pushing the New York City Council to pass
Speaker 1: legislation to restrict their hours, a move that's facing pushback
Speaker 1: from the union that represents them. The bill would limit
Speaker 1: a home care aid's shift to twelve hours. At your
Speaker 1: Bloomberg Try State Business Report, I'm in Corey, Thank you.
Speaker 1: Edit is five eight on Wall Street. Bloomberg Radio is
Speaker 1: on the air from San Francisco to New York, London
Speaker 1: to Hong Kong. Let's check in with our global news
Speaker 1: team for some of the top stories heard on our
Speaker 1: three hundred affiliate radio stations around the world. I'm Steve
Speaker 1: Pola scontenten Wins in New York. We're talking about a
Speaker 1: hacker release of what looks like early footage of the
Speaker 1: much anticipated Grand Theft Auto six Courtney's Anaho on ktr
Speaker 1: H in Houston. More consumers are saddled with credit card
Speaker 1: debt for longer periods of time. Iman kateson on WBC
Speaker 1: and Boston. I'll be reporting on the FEDS likely interest
Speaker 1: rate move find Genus Servetti in for w fl A
Speaker 1: in Orlando. I'm reporting that Disney has released data unemployee
Speaker 1: pay by race and gender for the first time. I
Speaker 1: made Corey on w w J in Detroit. I'm reporting
Speaker 1: an area contractor for Amazon will lay off one hundred
Speaker 1: forty five employees. And those are some of the stories
Speaker 1: are hundred Bloomberg journalists and analysts are working on this
Speaker 1: morning around the world. It's nine on Wall Street. The
Speaker 1: following is an editorial from Bloomberg Opinion. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. By almost any measure,
Speaker 1: the US remains in the grip of a gun violence epidemic.
Speaker 1: Since the beginning of the year, more than thirty thousand
Speaker 1: of marrow Aricans have died from firearms, and nearly as
Speaker 1: many have been wounded. Despite such grim figures, President Joe
Speaker 1: Biden's administration is making quiet, consequential progress on gun safety.
Speaker 1: In June, he signed the bipartisan Safer Communities Act, the
Speaker 1: first significant gun reform legislation in a generation, and building
Speaker 1: on that breakthrough, the administration is now cracking down on
Speaker 1: another growing threat, ghost guns. Working with members of both parties,
Speaker 1: Biden has made steady incremental headway toward common sense reforms.
Speaker 1: Sustaining that momentum is critical to sparing the country further
Speaker 1: bloodshed and loss. This editorial was written by the Bloomberg
Speaker 1: Editorial Board. For more Bloomberg opinion, please go to Bloomberg
Speaker 1: dot com, slash opinion or opie I n go on
Speaker 1: the Bloomberg terminal. This has been Bloomberg opinion, and you
Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time,
Speaker 1: terminal customers can read more at O P I n GO.
Speaker 1: Right now, SMP futures are down thirty six points, STOW
Speaker 1: futures down two six eight. Nasdaq futures are lower by
Speaker 1: a hundred seventeen points. When treasuries trading resumes following the
Speaker 1: state funeral of the Queen, the two year yield will
Speaker 1: be at three point six percent. This is Bloomberg Bloomberg
Speaker 1: eleven three oh weather. Increasing clouds, some showers and thundershowers
Speaker 1: developing this afternoon with a high your eighty five degrees
Speaker 1: will be mostly sunny, low eighties tomorrow and Wednesday. Right
Speaker 1: now seventy one in Central Park Markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. This
Speaker 1: is a Bloomberg business lash and up Karen Moscow futures
Speaker 1: are lower this morning, with SMP futures down thirty seven points,
Speaker 1: Down Future down two hundred eighty six, and nastack futures
Speaker 1: down one d twenty three. The decks in Germany's down
Speaker 1: nine tenths of upper cent. We continue to wait for
Speaker 1: treasuries to begin trading today, as markets in Japan and
Speaker 1: London are closed. Nimex screwed oil down one on a
Speaker 1: dollar fifty six and eighty three dollars, fifty five cents
Speaker 1: of barrel and comic School down seven tenths per center
Speaker 1: eleven dollars eighty cents at sixty seventy announced. Looking at
Speaker 1: bitcoin this morning lower at eighteen thousand, four hundred thirty dollars.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with
Speaker 1: more on what's going on around the world. Michael Darren,
Speaker 1: thank you very much. Britain and the world are laying
Speaker 1: Queen Elizabeth the second to rest at a state funeral
Speaker 1: that is drawing presidents and kings, princes and prime ministers.
Speaker 1: It is the first state funeral since Winston Churchill's Bloomberg
Speaker 1: will have more on the Queen's funeral coming up in minutes.
Speaker 1: Hurricane Fiona is bearing down on the Dominican Republic after
Speaker 1: knocking out the power grid and unleashing floods and landslides
Speaker 1: in Puerto Rico, where the governor said the damage was catastrophic.
Speaker 1: President Joe Biden said US military forces would defend Time
Speaker 1: One from an unprecedented attack. His latest pledge of support
Speaker 1: as his administration seeks to deter China from increasing military
Speaker 1: pressure on the democratically elected government in Taipei. In the NFL,
Speaker 1: the Giants and Jets won, The Patriots and forty Niners
Speaker 1: were also winners. The Ravens lost. In baseball, the Yankees
Speaker 1: beat the Brewers twelve eight Errant Judge his fifty eight
Speaker 1: and fifty ninth home runs of the season to move
Speaker 1: within two of Roja Marris's American League record. The Mets one,
Speaker 1: along with the Orioles, the Nationals, Hayes, and Giants lost.
Speaker 1: Global news twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Tank, powered by more than twenty seven
Speaker 1: hundred journalists and analysts in more than one hundred twenty countries.
Speaker 1: I'm Michael Barr, and this is Bloomberg, Nathan. This is
Speaker 1: Bloomberg Radio, where we turn our attention now to live
Speaker 1: coverage of the funeral for Queen Elizabeth the Second. We
Speaker 1: are just a few minutes from the culmination of more
Speaker 1: than a week of national morning for the Queen. The
Speaker 1: state funeral begins next hour for Britain's longest reigning monarch.
Speaker 1: Let's bring in Bloomberg Daybreak europe Bankers Caroline Hepcker and
Speaker 1: Stephen Carroll, who will anchor our special coverage of the
Speaker 1: service at Westminster Abbey which is getting underway in just
Speaker 1: a few minutes. Here Caroline and Stephen, but right now
Speaker 1: we're watching this extraordinary procession of military and the royal
Speaker 1: family themselves with the Queen's coffin on the gun carriage
Speaker 1: making its way to Westminster Abbey. Good morning, Nathan, Yes,
Speaker 1: you join us for a once in a generation event.
Speaker 1: This is the state funeral of Queen Elizabeth the Second
Speaker 1: and as you say, the most spectacular site, the procession
Speaker 1: of Queen Elizabeth's coffin from Westminster Hall to Westminster Abbey,
Speaker 1: which has begun. On this a gun carriage draped with
Speaker 1: the wool standard with flower was the auburn sector and
Speaker 1: topped with the Imperial State Crown. The carriage itself a
Speaker 1: hundred and twenty three years old, being pulled by ninety
Speaker 1: eight members of the Royal Navy. This is a procession
Speaker 1: route which is being lined by Royal Navy and Royal Marines.
Speaker 1: The Brigade of Gurkhas are there, the Royal Air Force,
Speaker 1: two hundred musicians and the King's bodyguard as they now
Speaker 1: are the Yeoman of the Guards, often known as the Beefeaters,
Speaker 1: lining this extraordinary procession through central London, a short journey
Speaker 1: only eight minutes from Westminster Hall in the Palace of Westminster,
Speaker 1: the home of of course, the House of Commons and
Speaker 1: the House of Lords, to Westminster Abbey, where the state
Speaker 1: funeral will take place. Well behind the coffin we also
Speaker 1: see King Charles the Third and the Queen's three are
Speaker 1: the children, her grandchildren, including Princes William and Harry, and
Speaker 1: other members of the royal family. In the background you
Speaker 1: can hear Westminster Abbey the bell being told ninety six
Speaker 1: times in commemoration of the Queen's life. The beat being
Speaker 1: played by the musicians in this drama special seventy five
Speaker 1: beats per minute to ensure the correct pace during this procession.
Speaker 1: A remarkable scene in central London. To see this members
Speaker 1: of all of the branches of the military taking part
Speaker 1: in this section of the Queen's final journey. Well, the
Speaker 1: service will begin in just a few minutes time in
Speaker 1: Westminster Abbey, of course, a hugely historic landmark in Britain.
Speaker 1: This is the place where virtually all the kings and
Speaker 1: Queens of England have been crowned where the Queen herself
Speaker 1: was married and where the coronation took place in nineteen
Speaker 1: fifty three. Now, during that service we have a host
Speaker 1: of dignitaries. We have seen the US President and many
Speaker 1: other leaders, including the British Prime Minister enter. The Dean
Speaker 1: of Westminster, the very Reverend David Hoyle, is the person
Speaker 1: who is leading today's service. We are meant to be
Speaker 1: seeing something and hearing something. It isn't a performance. What
Speaker 1: we are trying to do, not just in the abbey
Speaker 1: on the streets of the city, is to provide a
Speaker 1: focus for all that emotion that's out there at the moment.
Speaker 1: So that was the Dean of Westminster, the very Reverend
Speaker 1: David Hoyle. So at the start of the service we
Speaker 1: will hear the choir of Westminster Abbey, they will see
Speaker 1: lines from the scriptures. But before that moment we're still
Speaker 1: watching the procession of the gun carriage and the coffin
Speaker 1: to the gates of Westminster Abbey. During the service, the
Speaker 1: Secretary Journal of the Commonwealth, British of Scotland and the
Speaker 1: UK's Prime Minister, Liz Trust will read lessons from scripture.
Speaker 1: The Artification of Canterbury, Justin Welby, will then deliver the
Speaker 1: sermon at Her Majesty's funeral. Here he is talking about
Speaker 1: the funeral earlier today. I feel very privile leedged to
Speaker 1: be there, not pleased to be there, because we would
Speaker 1: all prefer that this had not happened, but we're all
Speaker 1: going to miss and grieve for the Queen. It's a
Speaker 1: huge privilege to be able to take part in this
Speaker 1: focused on the family first, because this is a family
Speaker 1: saying goodbye at a funeral to someone they loved. That
Speaker 1: was the Artibishop of Canterbury, Justin Welby. The funeral marks
Speaker 1: the end of ten days of National Morning, during which
Speaker 1: hundreds of thousands of people queued up to seventeen hours
Speaker 1: to see Queen Elizabeth lying in state at Westminster Hall Well.
Speaker 1: Reverend Marjorie Brown, the vicar of St Mary's the Virgin
Speaker 1: Church in Primrose Hill and also a prebendary of St
Speaker 1: Paul's Cathedral, was in the procession of reflection for the
Speaker 1: Queen the day after she died, and she joined us
Speaker 1: earlier on Bloomberg Radio to talk to us about the
Speaker 1: order of service. She said that the service that we
Speaker 1: will see a Westminster Abbey will speak to both tradition
Speaker 1: but also to the modern world. It's a service, a
Speaker 1: Christian funeral, as it would be for anyone in many respects.
Speaker 1: We know it will all be in the traditional language
Speaker 1: of the prayer book, which the Queen always favored. Looking
Speaker 1: through the order of service, I was very struck by
Speaker 1: how many British composers will have their music as part
Speaker 1: of the service, including two pieces by James McMillan and
Speaker 1: Juda's Rear, which were composed especially for this service. I
Speaker 1: was also struck by how many women will have speaking
Speaker 1: parts in the service. We have the Prime Minister and
Speaker 1: the Secretary General of the Commonwealth and of course the
Speaker 1: Lord Bishop of London, all all of whom are women.
Speaker 1: That's quite a change from the last state funeral in
Speaker 1: nineteen fifty two. There will also be participation by leaders
Speaker 1: of many other churches, not just Anglican, but also Roman
Speaker 1: Catholic and Pentecostal and Free churches. The Church of Scotland
Speaker 1: of course, so there'll be a very wide representation people
Speaker 1: across the nation in this service. Today. That was Reverend
Speaker 1: Marjorie Brown speaking to us earlier about the service, and
Speaker 1: now the gun carriage with the Queen's coffin has arrived
Speaker 1: outside the abbey. We can listen in to some of
Speaker 1: the sounds of the music playing in the background. This
Speaker 1: is a moment of silent reflection. If we see those
Speaker 1: members of the Royal Navy who pulled the gun carriage
Speaker 1: from Westminster Hall to Westminster Abbey now bowing their heads
Speaker 1: as the Queen's coffin is removed from the gun carriage
Speaker 1: and carried into Westminster Abbey. This is a solemn moment
Speaker 1: in the procession, a part of this long journey that
Speaker 1: the Queen's remains have today from Westminster Hall, where she's
Speaker 1: been lying in state from since Wednesday now to Westminster
Speaker 1: Abbey and a journey that will end in Windsor Castle
Speaker 1: later Today, thousands of people have lined the streets of
Speaker 1: these processional routes in central London all the way out
Speaker 1: to Windsor Castle. We've also seen, of course, the entrance
Speaker 1: of Britain's current and former Prime Ministers who are in
Speaker 1: the congregation, starting with John Major, Gordon Brown, Tony Blair,
Speaker 1: the current Prime Minister Liz Truss, All inside Westminster Abbey
Speaker 1: along with the US President to Joe Biden, the first
Speaker 1: Lady Jill Biden, the French President Emmanuel Maka, and we've
Speaker 1: seen so many royals, dignitaries, global leaders enter the abbey.
Speaker 1: There are two thousand people in the abbey for this service,
Speaker 1: among them some of those names that Caroline mentioned. But
Speaker 1: this is the start of what will be this this
Speaker 1: state funeral as we see the cover and now being
Speaker 1: slowly and meticulously carried towards the front door of Westminster Abbey,
Speaker 1: and so in just a few moments time we will
Speaker 1: begin the service, of course for Britain's longest serving monarch.
Speaker 1: We're watching them pictures live and Leanne Garren's who has
Speaker 1: been covering the morning period and indeed the state funeral
Speaker 1: throughout the days, joins us now live from Westminster. Good morning, Leanne.
Speaker 1: You've just been watching live the coffin of Queen Elizabeth
Speaker 1: the Second being processed from Westminster Hall to the abbey.
Speaker 1: You've been watching that procession, Caroline. We heard the bagpipe
Speaker 1: start playing and then we saw the procession coming along
Speaker 1: and it was probably one of the most