WEBVTT - Bloomberg Daybreak: July 8, 2022 - Hour 2 (Radio) 0:00:02.960 --> 0:00:06.160 Live from the Bloomberg Interacted Burger Studios. This is Bloomberg 0:00:06.280 --> 0:00:09.800 day Break for Friday, July two. Coming up this shour, 0:00:10.080 --> 0:00:13.800 former Japanese Prime Minister Shinzo Abe has died after being 0:00:13.800 --> 0:00:16.759 shot at a campaign event. Pressure amounts for Boris Johnson 0:00:16.800 --> 0:00:20.159 to accelerate his exit from office. Wall Street braces for 0:00:20.200 --> 0:00:23.479 the June Jobs report, and Twitter shares drop on doubt 0:00:23.560 --> 0:00:27.080 the elon must takeover? Will ever happen? Former Winels Council 0:00:27.120 --> 0:00:30.640 Pat Sablonia appears before the January sixth panel, plus another 0:00:30.760 --> 0:00:34.000 shark attack on Long Island. I'm Michael barn More Ahead. 0:00:34.159 --> 0:00:36.800 I'm trying to stash and sports the Yankee SIXTI win 0:00:36.840 --> 0:00:38.320 of the year. They beat the Red Sox in their 0:00:38.400 --> 0:00:40.640 first game played this year in Boston, an easy win 0:00:40.760 --> 0:00:46.479 for the Mets. That's all straight ahead on Bloomberg day 0:00:46.479 --> 0:00:51.160 Break on Bloomberg Eliving Free on New York, Bloomberg one, Washington, 0:00:51.280 --> 0:00:55.080 d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 0:00:55.120 --> 0:00:59.160 San Francisco, Sirius XM one nineteen and around the world 0:00:59.240 --> 0:01:03.040 on Bloomberg Radio dot Com and via the Bloomberg Business Act. 0:01:07.440 --> 0:01:10.280 Good morning, I'm Nathan Hagar and I'm Karen Moscow. When 0:01:10.400 --> 0:01:13.559 US DOT index futures are lower this morning, and we're 0:01:13.600 --> 0:01:15.319 coming up to six oh one on Wall Street, let 0:01:15.360 --> 0:01:17.880 me check the markets every fifteen minutes throughout the trading day. 0:01:18.000 --> 0:01:20.200 On Bloomberg, I guess and P futures down at eleven 0:01:20.240 --> 0:01:23.440 points down. Future is down fifty three NASDAG futures down 0:01:23.480 --> 0:01:25.720 about the same that dacks in Germany's up to tens 0:01:25.760 --> 0:01:28.920 of percent. Ten year treasury up six thirty seconds, YELD 0:01:28.959 --> 0:01:31.080 two point nine seven percent, and they yield on the 0:01:31.120 --> 0:01:35.119 two year two point nine Nimex screwde oil is down 0:01:35.160 --> 0:01:37.319 half percent or fifty five cents at a hundred two 0:01:37.319 --> 0:01:40.479 dollars eighteen cents of barrel. Comex school down to tens 0:01:40.480 --> 0:01:43.000 per cent or three dollars ninety cents at seventeen thirty 0:01:43.040 --> 0:01:46.360 five seventy, announced Nathan Karen. We begin with a violent 0:01:46.400 --> 0:01:50.040 attack in Japan. Former Prime Minister Shinzo Abe has been 0:01:50.160 --> 0:01:53.720 assassinated shot during a campaign event. We get more from 0:01:53.760 --> 0:01:57.560 Bloomberg's Garrett Ready in Tokyo. The reaction from the people 0:01:57.640 --> 0:01:59.720 here would be I think I would term that a shock. 0:02:00.040 --> 0:02:03.600 These kind of events are extremely rare for this kind 0:02:03.640 --> 0:02:06.120 of thing to happen in a country where normally, you know, 0:02:06.160 --> 0:02:08.840 the politics are quite stayed on, where there really wasn't 0:02:08.840 --> 0:02:11.160 a lot of interest, and stuff that's going on sometimes 0:02:11.520 --> 0:02:15.640 absolutely extraordinary, and of course gun crime here is extremely rare. 0:02:15.840 --> 0:02:18.440 Bloomberg scared ready reports from Tokyo that a forty one 0:02:18.520 --> 0:02:21.080 year old suspect is under arrest. He told police he 0:02:21.160 --> 0:02:23.800 wanted to kill Abe because he was frustrated with the 0:02:23.840 --> 0:02:27.239 former premier. Abe died after being shot from about ten 0:02:27.280 --> 0:02:29.920 feet away with what appeared to be a homemade firearm. 0:02:30.280 --> 0:02:33.160 All right, Nathan, Meantime, in the UK, pressure is building 0:02:33.200 --> 0:02:37.359 on Boris Johnson to relinquish power sooner. His Conservative Party 0:02:37.400 --> 0:02:40.280 wants to speed up the contest to choose Johnson's successor 0:02:40.440 --> 0:02:43.440 by the end of the summer. Bloomberg's Lizzie Burden, reporting 0:02:43.480 --> 0:02:47.120 from Westminster, has more it's a wide open race at 0:02:47.120 --> 0:02:50.040 the moment. The front runners are driven by those with 0:02:50.200 --> 0:02:54.600 military experience and credentials, so the Defense Secretary Ben Wallace, 0:02:54.680 --> 0:02:58.640 the former Defense Secretary Penny more Tons, and also Tom Tooganhart, 0:02:58.680 --> 0:03:01.519 who has never held a senior cabinet position but has 0:03:01.560 --> 0:03:04.239 served in the Armed forces. Of course, because of the 0:03:04.280 --> 0:03:07.639 war in Ukraine, they are taking the spotlight, but we're 0:03:07.680 --> 0:03:09.880 also in the midst of a cost of living crisis 0:03:09.919 --> 0:03:12.800 here in the UK, so that lends the limelight to 0:03:13.000 --> 0:03:16.760 the former Chunsella, Rishi, Sunac and Laberge. Lizzie Burden says 0:03:16.760 --> 0:03:19.280 Boris Johnson is hoping to stay on for at least 0:03:19.440 --> 0:03:21.720 three more months. Well. Back here in the US, Karen 0:03:21.840 --> 0:03:25.120 relations with China are in focus, and today President Biden 0:03:25.120 --> 0:03:28.000 will hold a meeting to discuss possible reductions in US 0:03:28.040 --> 0:03:31.360 tariffs on Chinese goods. Amy Morris has details from our 0:03:31.360 --> 0:03:35.720 Bloomberg newsroom in Washington. Sources tell Bloomberg News that today's 0:03:35.760 --> 0:03:38.880 meeting revolves around whether to remove some Trump era levies 0:03:38.880 --> 0:03:42.360 on three hundred billion dollars in Chinese imports. Reducing those 0:03:42.360 --> 0:03:45.800 tariffs is seen as a potential weapon against inflation. Treasury 0:03:45.840 --> 0:03:49.480 Secretary Tenant Yellen and Commerce Secretary Gina Ramando have said 0:03:49.520 --> 0:03:52.720 that it could help, but ending tariffs on Chinese goods 0:03:52.720 --> 0:03:56.440 won't help Americans, where higher prizes hurt the most food, fuel, 0:03:56.520 --> 0:04:00.440 and housing. Yellen, Ramando and Trade Representative Care rent I 0:04:00.560 --> 0:04:03.680 will not attend today's meeting in Washington. I'm any more 0:04:03.680 --> 0:04:06.040 as Bloomberg Daybreak, All right, Amy, thank you about turning 0:04:06.040 --> 0:04:08.000 to the economy. Now we are less than two and 0:04:08.040 --> 0:04:11.440 a half hours away from the June jobs report. Economists 0:04:11.440 --> 0:04:14.920 a payroll gains will slow after the Fed raised interest rates. 0:04:14.960 --> 0:04:18.159 We get more from Bloomberg's Michael McKee. The consensus view 0:04:18.200 --> 0:04:21.240 is FED officials will be pleased by the June jobs report, 0:04:21.560 --> 0:04:26.080 hiring slowing but still strong, unemployment essentially unchanged, and wage 0:04:26.080 --> 0:04:30.160 pressures easy. An unfecast result would likely leave Wall Street 0:04:30.200 --> 0:04:34.040 investors reasonably satisfied as well. The question is what happens 0:04:34.040 --> 0:04:37.240 if we get an extremely strong or extremely weak report. 0:04:37.640 --> 0:04:40.479 The central bankers have suggested a strong report won't change 0:04:40.520 --> 0:04:43.359 their plans for what will likely be another three quarter 0:04:43.440 --> 0:04:45.880 percentage point increase at the end of the month, but 0:04:46.000 --> 0:04:50.039 expect volatility of weak numbers lead investors to increased bets 0:04:50.080 --> 0:04:53.159 on recession. Michael McKee, Bloomberg Daybreak, All right, Mike, thanks 0:04:53.200 --> 0:04:55.600 so to the FEDS. Most talkish members are coming out 0:04:55.640 --> 0:04:59.040 to support big rate hikes. Here's Fed Governor Christopher Waller. 0:04:59.120 --> 0:05:02.120 I'm definitely court of doing another seventy five based point 0:05:02.200 --> 0:05:06.760 hike in July, probably fifty in September, and then after 0:05:06.800 --> 0:05:09.040 that we can debate whether to go back down. The 0:05:09.520 --> 0:05:12.960 FED Governor Christopher Waller made those comments at an event 0:05:12.960 --> 0:05:16.320 hosted by the National Association for Business Economics St. Louis. 0:05:16.360 --> 0:05:19.000 FED President Jim Bullard's also calling for a seventy five 0:05:19.040 --> 0:05:21.359 point rate hike this month. If we don't get the 0:05:21.400 --> 0:05:27.279 inflation under control, inflation expectations could become unmoored, and if 0:05:27.320 --> 0:05:31.640 that happened, then you get this long and complicated tangle 0:05:31.760 --> 0:05:34.480 like we did in the seventies. Both Bullard and Waller 0:05:34.520 --> 0:05:37.800 are voting members of the Federal Open Market Committee this year. Well, 0:05:37.880 --> 0:05:40.479 turning the corporate news now, Nathan Shares a Twitter down 0:05:40.480 --> 0:05:43.680 amost four percent in early training. There's more concerned that 0:05:43.720 --> 0:05:47.160 Elon Musk's proposed acquisition of the social media company is 0:05:47.200 --> 0:05:50.839 falling Apart. To get the latest from Bloomberg, Shonali Bossek, 0:05:50.880 --> 0:05:53.320 who was at this week's tech conference in Sun Valley, 0:05:53.720 --> 0:05:57.920 Twitter CEO, CFO and board chair are all here at 0:05:57.920 --> 0:06:01.279 a small meeting of elite investors. Now there's a concern 0:06:01.360 --> 0:06:03.880 that the deal for Elon must to buy Twitter maybe 0:06:03.920 --> 0:06:07.039 in jeopardy as he's concerned about bots and has stopped 0:06:07.040 --> 0:06:11.479 talks with the key potential investor. According to the Washington Post. However, 0:06:11.600 --> 0:06:14.600 investors at Sun Valley also believed that Elon must maybe 0:06:14.720 --> 0:06:18.000 looking to renegotiate the deal, especially given that Twitter stock 0:06:18.080 --> 0:06:21.320 right has fallen so far. I'm Shnali bask in Sun 0:06:21.400 --> 0:06:24.640 Valley for Bloomberg News and Bloomberg Shnelly bask in Sun 0:06:24.720 --> 0:06:27.839 Valley says Musk is slated to speak at the conference tomorrow. 0:06:28.040 --> 0:06:30.480 Are also watching shares of game Stop this morning. They 0:06:30.480 --> 0:06:33.440 are falling in early trading, down more than seven percent 0:06:33.560 --> 0:06:36.359 on a key executive departure. Let's get more on that 0:06:36.440 --> 0:06:39.320 line from Bloomberg. Joinnida Young, Good morning, Grenada, Good morning Nathan. 0:06:39.440 --> 0:06:43.400 Game Stop fired at CFO Mike Recoopero yesterday. He was 0:06:43.440 --> 0:06:46.640 one of the several Amazon employees that game Stop had 0:06:46.720 --> 0:06:49.719 recently hired. It was an effort to shift its focus 0:06:49.720 --> 0:06:53.520 from physical storefronts to e commerce. But Bloomberg sources say 0:06:53.560 --> 0:06:56.560 Recoopero was fired because he was not hands on enough 0:06:56.920 --> 0:07:00.080 and treated game Stop as if it were Amazon. The 0:07:00.120 --> 0:07:03.720 current chief accounting officer will replace him. The company is 0:07:03.760 --> 0:07:06.680 attempting to turn around a business that's been hit by 0:07:06.800 --> 0:07:11.000 shifting gaming demands and a troubled market. Live in New York, 0:07:11.040 --> 0:07:14.880 I'm Gonnita Young Bloomberg Daybreak. Okay, Rnita, thank you. Straight ahead, 0:07:14.880 --> 0:07:17.360 we'll bring you your latest local headlines and a check 0:07:17.360 --> 0:07:24.040 of sports. This is Bloomberg in six o seven on 0:07:24.080 --> 0:07:26.800 Wall Street, sixty degrees in Central Park and we have 0:07:26.840 --> 0:07:29.960 an accident on the inbound upper level the George Washington Bridge. 0:07:30.000 --> 0:07:32.840 Details coming up in traffic. First Michael Barr with what 0:07:32.920 --> 0:07:35.480 else is going on in New York and around the world. Michael, 0:07:35.520 --> 0:07:38.200 thank you very much. Nathan to Star Witness appears before 0:07:38.240 --> 0:07:42.160 the U. S. House Committee today investigating the US capital attack. 0:07:42.680 --> 0:07:44.920 It will be a private meeting, but it could set 0:07:44.960 --> 0:07:47.920 the stage for the rest of the investigation. The committee 0:07:48.000 --> 0:07:51.040 had been leaning on Patspoloney the Trump White House Council 0:07:51.080 --> 0:07:54.760 to appear for weeks. A Fire Island lifeguard was bitten 0:07:54.800 --> 0:07:58.000 by a shark on Long Island yesterday, possibly the third 0:07:58.080 --> 0:08:01.520 such attack the past week. Lifeguard was bitten near his 0:08:01.680 --> 0:08:05.320 left foot while conducting a training exercise about a hundred 0:08:05.320 --> 0:08:08.520 fifty yards from the shoreline. He was treated and released. 0:08:08.800 --> 0:08:11.960 The Biden administration says it's still working to free w 0:08:12.280 --> 0:08:15.840 NBA star Britney Griner now that she's pleaded guilty to 0:08:15.960 --> 0:08:19.120 the Russian drug charges against her. Grinder told the Russian 0:08:19.120 --> 0:08:21.520 court she didn't mean to put a Vade cartridge containing 0:08:21.560 --> 0:08:24.680 cannabis in her suitcase when she flew to Russia. She 0:08:24.720 --> 0:08:27.600 could be sentenced to ten years in prison. Wine House 0:08:27.640 --> 0:08:30.880 Press secretary Karen Jean Pierre says they are still trying 0:08:30.920 --> 0:08:34.480 to free her. Clearly, we cannot negotiate in public. That 0:08:34.679 --> 0:08:37.440 is not something that we're going to do, but we 0:08:37.480 --> 0:08:39.959 are committed to making sure they all get home safely. 0:08:40.160 --> 0:08:43.319 Press Secretary Karine Jean Pierre also says they're working is 0:08:43.440 --> 0:08:46.440 hard to free American Paul Wheeland, a man who was 0:08:46.440 --> 0:08:49.160 convicted of murder in connection with the twenty nineteen shooting 0:08:49.160 --> 0:08:51.920 death of a New York City police officer, was sentenced 0:08:51.920 --> 0:08:55.000 to at least thirty years in prison. The Queen's County 0:08:55.000 --> 0:08:58.600 District Attorney says twenty eight year old Jagger Freeman planned 0:08:58.600 --> 0:09:02.199 the hold up that resulted and Detective Brian Simonson's death. 0:09:02.440 --> 0:09:06.400 The second officer was also wounded. Former Minneapolis police officer 0:09:06.480 --> 0:09:09.080 Derrek Chauvin has learned his fate and a federal plea 0:09:09.120 --> 0:09:13.640 deal for violating George Floyd's civil rights. Chauvin, already serving 0:09:13.640 --> 0:09:16.559 a lengthy sentence for killing Floyd in twenty has been 0:09:16.600 --> 0:09:18.520 sentenced to a little more than twenty years in a 0:09:18.600 --> 0:09:25.040 federal prison. During sentencing, Chauvin offered no apology. George Floyd's brother, Felonis, 0:09:25.080 --> 0:09:28.120 spoke outside the courthouse after the hearing. You were bound 0:09:28.160 --> 0:09:31.600 here to serve a pet because that's your jaw title 0:09:31.720 --> 0:09:34.520 to server partigue. But I didn't see that that day. 0:09:34.880 --> 0:09:39.760 All I see was my brother taken away. All I 0:09:39.840 --> 0:09:42.880 seen with his last breath, All I see with him 0:09:42.920 --> 0:09:46.560 screaming out to my mom. Felonis Floyd says his brother 0:09:46.640 --> 0:09:49.760 was murdered by somebody who just didn't have any compassion. 0:09:50.200 --> 0:09:52.680 Global News twenty four hours a day on air and 0:09:52.800 --> 0:09:56.040 on Bloomberg Quicktake, powered by more than twenty seven hundred 0:09:56.080 --> 0:09:59.000 journalists and analysts more than a hundred twenty countries. Michael 0:09:59.000 --> 0:10:06.400 Barr and this is Bloomberg, Nathan, Thank you, Michael. Almost 0:10:06.440 --> 0:10:08.480 six ten on Wall Street, time for the Bloomberg Sports 0:10:08.520 --> 0:10:10.760 Update with John sash all Right, Nathan and the Yankees 0:10:10.800 --> 0:10:13.400 first game this season in Boston they get their sixty 0:10:13.480 --> 0:10:16.240 if when did they even use Aaron Judge or Anthony Rizzo, 0:10:16.320 --> 0:10:18.920 both nursing minor injuries, So that's fifty two home runs 0:10:18.960 --> 0:10:21.120 are on the bent. But Yank's got a third inning 0:10:21.160 --> 0:10:23.760 grand slam from Josh Donaldson and Aaron Hicks followed with 0:10:23.800 --> 0:10:26.040 a solo shot, So that's two guys who have not 0:10:26.280 --> 0:10:28.319 hit well this season. They both now home in back 0:10:28.360 --> 0:10:30.880 to back games. Yanks led five, They're nothing later six 0:10:30.960 --> 0:10:32.600 to two, when they held on to win six five. 0:10:32.640 --> 0:10:35.439 The Red Sots. Rafie Devers did his part, drove in 0:10:35.520 --> 0:10:38.760 all five to home runs off Garrett Cole, who Devers owns. 0:10:38.840 --> 0:10:41.319 He said six off Cole in his career, leaving the 0:10:41.400 --> 0:10:45.839 Yankee's wondering what he has to do against Devon. It's 0:10:45.880 --> 0:10:47.880 pretty wild. He's just been able to hit every I mean, 0:10:47.880 --> 0:10:50.120 missus hasn't been a miss it, you know, like roll 0:10:50.200 --> 0:10:52.920 over one time, like line out one time. I mean 0:10:54.880 --> 0:10:58.200 so um, you know it's supposed it's supposed to fail 0:10:58.200 --> 0:10:59.760 seven out of ten times in this gig. I don't 0:10:59.760 --> 0:11:02.000 really to deal is cold. Everyone else out got his 0:11:02.080 --> 0:11:04.560 eighth Winnie Clay Holmes is sixteenth, saving The Yankees are 0:11:04.600 --> 0:11:07.319 fifteen games ahead. Are the Red Sox. Easy went for 0:11:07.360 --> 0:11:10.040 the Mets at City Field pen nothing over the Marlins 0:11:10.320 --> 0:11:12.640 like the Yankees. Production from guys who have struggled. The 0:11:12.720 --> 0:11:15.480 j D name his Grand Slam Brian mccam three when 0:11:15.520 --> 0:11:17.679 Homer Trevor Williams came in one in five, but he 0:11:17.679 --> 0:11:21.000 held seven scoreless inning glad only two hits. Men's Semifinals. 0:11:21.040 --> 0:11:23.800 Today at Wimbledon, Novak Djokovic takes on the South African 0:11:23.920 --> 0:11:27.520 Cameron Nori, but the much anticipated match between Rapi on 0:11:27.559 --> 0:11:29.679 the Dale and the Austine Nick Curios is off. The 0:11:29.800 --> 0:11:32.200 Dal had to pull out with an injury. The women's 0:11:32.200 --> 0:11:35.240 final is tomorrow. The Rangers have traded backup goalie Alex 0:11:35.280 --> 0:11:40.000 Gorgion the Colorado John Stasha Warm Bloomberg Sports Nathan all right, John, 0:11:40.040 --> 0:11:42.720 thank you right now. SMP futures are down six points, 0:11:42.720 --> 0:11:46.360 Stown futures down seventeen, Nanstack futures down forty one ahead 0:11:46.360 --> 0:11:48.720 of the release of the June payrolls reporting a little 0:11:48.720 --> 0:11:51.520 more than two hours up. Next, the latest on the 0:11:51.559 --> 0:11:56.599 assassination a former Japanese Prime minister, Shinzo Abe, the legacy 0:11:56.800 --> 0:12:02.160 he leaves behind Bloomberg's Kreum Moriy joins US next from Japan. 0:12:02.280 --> 0:12:08.800 This is Bloomberg Bloomberg eleven three oh weather partly the 0:12:08.800 --> 0:12:12.120 mostly cloudy upper eighties today and he showers and early 0:12:12.160 --> 0:12:14.760 tomorrow it will turn partly sunny, less humid, low eighties, 0:12:15.440 --> 0:12:18.120 mostly sunny low eighties for Sunday. Right now sixty nine 0:12:18.160 --> 0:12:24.600 in Central Park markets, headlines and breaking news twenty four 0:12:24.640 --> 0:12:27.319 hours a day at Bloomberg dot com for the Bloomberg 0:12:27.320 --> 0:12:31.400 Business at and at Bloomberg Quicktake. She's a Bloomberg Business 0:12:31.400 --> 0:12:40.679 Flash and I'm Karin Moscow, wasn't. The futures are lower 0:12:40.720 --> 0:12:43.880 this morning as investors await employment day to engage whether 0:12:43.920 --> 0:12:47.199 the world's largest economy can avoid a recession. The dollar 0:12:47.440 --> 0:12:49.920 found haven demand and we checked the markets every fifteen 0:12:49.920 --> 0:12:52.800 minutes throughout the trading day on Bloomberg. Right now is 0:12:52.800 --> 0:12:55.800 in the futures are down four points down, Futures now 0:12:55.920 --> 0:12:59.720 little change, and nasdack futures they're still lower, down thirty six. 0:13:00.040 --> 0:13:03.000 The decks in Germany is up seven tenths of a percent. 0:13:03.160 --> 0:13:06.240 Also improvement UH there as well. Ten Your treasury up 0:13:06.240 --> 0:13:08.480 four third day seconds yield two point nine seven percent. 0:13:08.520 --> 0:13:10.360 The yield on the two year two point nine nine 0:13:10.440 --> 0:13:13.480 percent nine X screwen oil it'll change at a hundred 0:13:13.480 --> 0:13:15.840 two dollars sixty five cents a barrel. Comex s goold 0:13:15.960 --> 0:13:17.920 is done about two tenths per cent, or three dollars 0:13:17.920 --> 0:13:21.360 ten cents at seventeen thirty six sixty announced the Euro 0:13:21.480 --> 0:13:24.160 one point one three one against the dollar, British pound 0:13:24.240 --> 0:13:26.520 one point one at nine h q and again one 0:13:26.520 --> 0:13:29.439 thirty five point eight six. And looking at bitcoin, it's 0:13:29.440 --> 0:13:32.760 down three ten percent at twenty one thousand, five forty dollars. 0:13:33.200 --> 0:13:35.960 That's a Bloomberg business flash. Now here's Michael Barrow with 0:13:36.080 --> 0:13:38.600 more on what's going on around the world. Michael Karen, 0:13:38.600 --> 0:13:40.600 thank you very much. As we've been talking about all 0:13:40.640 --> 0:13:44.160 this morning, former Japanese Prime Minister Zo Abe has died. 0:13:44.679 --> 0:13:47.400 Abe died in a Japanese hospital after he was shot 0:13:47.480 --> 0:13:50.160 during a campaign stop today in Nara. The man who 0:13:50.240 --> 0:13:52.720 attacked Ab has been arrested. Of course, we'll have more 0:13:52.800 --> 0:13:56.320 on this story throughout the entire morning. Boris Johnson is 0:13:56.320 --> 0:13:58.920 facing pressure from his own party to accelerate his exit 0:13:58.960 --> 0:14:03.520 as UK Prime Minister. He announced his resignation yesterday in baseball. 0:14:03.559 --> 0:14:05.959 The Yankees beat the Red Sox six five, the Mets 0:14:06.000 --> 0:14:08.360 one along with the Orioles. The Nationals lost along with 0:14:08.400 --> 0:14:11.120 the Giants. Global News twenty four hours a day on 0:14:11.200 --> 0:14:14.120 air and on Bloomberg Quick Take, powered by more than 0:14:14.160 --> 0:14:17.319 twenty hundre journalist analysts more than a hundred twenty countries. 0:14:17.640 --> 0:14:20.320 Michael Barr and this is Bloomberg inco Alright, Michael, thank 0:14:20.360 --> 0:14:22.600 you to six nineteen on Wall Street Live from the 0:14:22.640 --> 0:14:26.640 Bloomberg Interactive Broker's studios. This is Bloomberg Daybreak in Bloomberg's 0:14:26.680 --> 0:14:29.760 Karom Mori is back with us live this morning from 0:14:29.760 --> 0:14:33.600 outside the hospital in Nara, Japan, where Prime Minister former 0:14:33.600 --> 0:14:37.640 Prime Minister Shinzo Abe died of his injuries after being 0:14:37.840 --> 0:14:41.120 shot at close range at a campaign event with an 0:14:41.120 --> 0:14:44.640 election just a couple of days away in Japan. Karum, 0:14:44.880 --> 0:14:48.560 Good morning. This is just staggering news that's reverberating around 0:14:48.560 --> 0:14:52.200 the world. We're hearing reaction from global leaders. What's the 0:14:52.240 --> 0:14:54.200 latest that you can tell us from where you are 0:14:54.280 --> 0:14:59.200 outside that hospital? Good morning, Nathan. Yeah, I'm I'm still 0:14:59.320 --> 0:15:02.320 on site at not a medical university hospital. I just 0:15:02.400 --> 0:15:05.120 left the press conference a short while ago where the 0:15:05.200 --> 0:15:08.360 hospital president and the e R doctor in charge of 0:15:08.400 --> 0:15:12.480 actually treating Abe, Dr. Kukushima uh spoke to the media. 0:15:12.560 --> 0:15:15.560 They gave us some details, not all the details, but 0:15:15.640 --> 0:15:18.320 this is what I can tell you that I heard 0:15:18.480 --> 0:15:21.560 from them. The doctor who operated Abe said that they 0:15:21.560 --> 0:15:24.520 were able to stop the major bleeding, but by then 0:15:24.600 --> 0:15:26.400 it was too much blood was lost by the time 0:15:26.440 --> 0:15:29.600 they actually arrived at the hospital here, the bullet had 0:15:29.640 --> 0:15:33.280 pierce Abe's neck and heart in two places. Um. He 0:15:33.400 --> 0:15:37.440 was declared dead after about three hours of surgery here 0:15:37.480 --> 0:15:41.400 at this hospital pronounced that at five oh three pm 0:15:41.600 --> 0:15:46.120 local time. Uh. You know again, we saw first former 0:15:46.160 --> 0:15:49.400 First Lady ak Abe had arrived to the hospital here 0:15:49.760 --> 0:15:53.040 a short while before the press conference, but of course 0:15:53.200 --> 0:15:56.320 a solemn, somber mood. And on this campus, I'm just 0:15:56.360 --> 0:16:00.160 walking around and seeing Secret Service members just line in 0:16:00.480 --> 0:16:05.800 the hallway of of presumably where Shinzo Abe is is 0:16:05.880 --> 0:16:10.280 laying to rest. And you know, this incident is just shocking. 0:16:10.400 --> 0:16:14.240 It's the assassination setting this huge shock throughout Japan, as 0:16:14.280 --> 0:16:16.400 you can imagine. Yeah, and I've have to think that 0:16:16.440 --> 0:16:18.360 there are going to be a lot of questions is 0:16:18.360 --> 0:16:21.040 still to come about how something like this could happen 0:16:21.320 --> 0:16:25.840 in a country like Japan, where gun violence is so rare, 0:16:25.880 --> 0:16:31.400 where it's so difficult to get a weapon. Yeah, that's right, Nathan. 0:16:31.680 --> 0:16:35.280 You know, Japan's gun laws or ultra strict, not just 0:16:35.600 --> 0:16:39.560 cond of strict, are extremely strict. They limit so so 0:16:39.640 --> 0:16:43.040 much the number of guns in circulation. We have an 0:16:43.080 --> 0:16:45.640 estimated number of guns held by civilians in Japan was 0:16:45.680 --> 0:16:49.680 just about three hundred ten thousand in twenty nineteen. That's 0:16:49.760 --> 0:16:53.040 open to five per one people. And to put that 0:16:53.080 --> 0:16:55.920 into context in the US, it's a hundred twenty per 0:16:55.960 --> 0:16:59.520 one hundred people. So again, Japan has among the G 0:16:59.680 --> 0:17:03.880 seven country is the lowest number of guns held by civilians. 0:17:04.080 --> 0:17:06.879 It's shocking. I mean, that is the word we keep using. 0:17:07.680 --> 0:17:10.400 The gun though with a handmade gun here and so 0:17:10.440 --> 0:17:13.359 that is the detail there of the suspected gunmen with 0:17:13.560 --> 0:17:17.240 mail MS forties, a former j SPF member so Japan's 0:17:17.240 --> 0:17:22.040 Self Defense Forces member um and again shinzo Abe was 0:17:22.240 --> 0:17:26.399 carried via ambulance. Apparently he was reportedly conscious at the time, 0:17:26.760 --> 0:17:30.160 later became unconscious and in cortioc correct by the time 0:17:30.160 --> 0:17:33.720 he had alleged at this hospital via helicopter, and we 0:17:33.760 --> 0:17:36.120 know this happened in the middle of a campaign speech. 0:17:36.119 --> 0:17:38.679 There's an election coming up in Japan in just a 0:17:38.720 --> 0:17:43.040 couple of days here. What is Shinzo Abe's death going 0:17:43.080 --> 0:17:47.879 to mean for that? Yeah, absolutely, that's the question we 0:17:47.880 --> 0:17:50.640 were asking a few hours ago. But Finance Minister Suzuki 0:17:50.680 --> 0:17:53.959 has come out to say that changing any election plans 0:17:53.960 --> 0:17:56.640 would mean a lot for democracies. We do not want 0:17:56.720 --> 0:18:01.080 to lose to violence, and therefore or there should be 0:18:01.160 --> 0:18:04.720 no change in plans for the upcoming Upper House elections, 0:18:04.720 --> 0:18:07.840 which are scheduled for this Sunday, just two days away, 0:18:08.440 --> 0:18:12.080 July tenth, and US residents here in Japan, we've already 0:18:12.119 --> 0:18:15.240 received the balance in the mail, so it seems like 0:18:15.359 --> 0:18:18.280 the plans will go ahead. We did see some candidates 0:18:18.280 --> 0:18:20.080 so shortly after the news of the shooting that they 0:18:20.080 --> 0:18:22.960 are going to suspend campaigning for the day. So we 0:18:23.000 --> 0:18:24.720 did see some l v P members come out to 0:18:24.800 --> 0:18:28.600 say they are halting their campaign activity for today on 0:18:28.640 --> 0:18:32.280 social media, so, uh course, pending the news. Uh, they 0:18:32.280 --> 0:18:35.840 were unsure of what the situation was. Now we here, unfortunately, 0:18:36.359 --> 0:18:39.639 the death has been conversed and the elections will go ahead. 0:18:39.960 --> 0:18:42.600 Only have about a minute or so left here. Unfortunately, 0:18:42.720 --> 0:18:47.200 Karum to talk about the legacy that Shinzo Abe leaves behind. Obviously, 0:18:47.240 --> 0:18:51.040 being the longest serving prime Minister of Japan, this has 0:18:51.080 --> 0:18:56.000 to leave a very deep hole in Japanese politics, in 0:18:56.080 --> 0:19:01.320 Japanese policy. Absolutely, I'm a eight history of the longest 0:19:01.359 --> 0:19:05.080 serving premier in Japan ever since eighteen eighty. Uh he 0:19:05.840 --> 0:19:08.800 served a total of eight years and eight months as 0:19:08.880 --> 0:19:11.640 the leader of Japan, and he had he was still 0:19:11.720 --> 0:19:14.359 very much an icon of the l VP even after 0:19:14.440 --> 0:19:20.320 he resigned in fee'll remember due to health concerns. Um. 0:19:20.359 --> 0:19:22.240 But again he you know, he is leaving behind a 0:19:22.359 --> 0:19:26.520 legacy Albanomics for example, uh In you know, when he 0:19:26.560 --> 0:19:28.600 came to office for the second time in twelve, he 0:19:28.680 --> 0:19:33.800 launched this unprecedented effort to revive Japan's flagging economy. Of course, 0:19:33.800 --> 0:19:37.440 he's the foreign policy hawk. He hoped to end apologies 0:19:37.480 --> 0:19:41.800 for past and purialism, reinterpreted the country's pasifs constitutions to 0:19:41.880 --> 0:19:45.800 loosen restrictions on the military, and he still managed to 0:19:45.840 --> 0:19:49.800 stable relations, for example with neighboring China, smooth you know, 0:19:49.880 --> 0:19:55.040 relations with the US. UM made friendships with President Alexa 0:19:55.080 --> 0:19:58.720 Donald Trump in twenty sixteen. So, of course, leaving a 0:19:58.840 --> 0:20:03.000 lasting legacy comes from a political background with his family 0:20:03.520 --> 0:20:06.520 um and he is survived by his wife Aki Abe. 0:20:06.920 --> 0:20:10.080 Now we heard from Secretary of State Anthony Lincoln at 0:20:10.119 --> 0:20:13.840 the G twenty summit in Bali, Indonesia, calling former Prime 0:20:13.880 --> 0:20:17.280 Minister Shinzo Abe a leader of great vision. We're going 0:20:17.320 --> 0:20:20.080 to be monitoring the global reaction, of course, throughout the 0:20:20.200 --> 0:20:24.480 full investment opportunities. To diversify your portfolio and discover undervalued 0:20:24.520 --> 0:20:27.280 companies that may have greater growth potential. Try ib k 0:20:27.400 --> 0:20:30.480 our Global analyst today at ibk r dot com slash 0:20:30.520 --> 0:20:34.159 g A. First, we have grim news out of Japan. 0:20:34.320 --> 0:20:37.960 As you've been reporting, former Japanese Prime Minister Shenzo Abe 0:20:38.080 --> 0:20:41.600 has been assassinated. He was shot during a campaign event 0:20:41.680 --> 0:20:44.840 and was pronounced dead at the hospital. Here's current a 0:20:44.960 --> 0:20:49.800 Japanese Prime Minister Kashida speaking through an interpreter. It is 0:20:49.840 --> 0:20:52.840 a barbaric act that took place during the election, which 0:20:52.920 --> 0:20:58.800 is the base of democracy. It is absolutely unforgivable, Japanese 0:20:58.800 --> 0:21:01.920 Prime Minister Kashida says. A forty one year old suspect 0:21:01.920 --> 0:21:04.760 has been arrested. The man told police he wanted to 0:21:04.840 --> 0:21:07.800 kill Abe because he was frustrated with the former premier. 0:21:08.240 --> 0:21:11.080 Uby died after being shot from about ten feet away 0:21:11.119 --> 0:21:14.240 with what appeared to be a homemade firearm. Well, meantime, 0:21:14.280 --> 0:21:16.760 in the UK Karen pressure is building on Prime Minister 0:21:16.840 --> 0:21:20.240 Boris Johnson to relinquish power. His Conservative Party wants to 0:21:20.320 --> 0:21:23.359 speed up the contest to choose Johnson's successor by the 0:21:23.440 --> 0:21:26.639 end of the summer. Bloomberg's Lizzie Burden has more from Westminster. 0:21:27.080 --> 0:21:30.679 The race is already on candidates already reportedly setting up 0:21:30.680 --> 0:21:34.639 camps in hotels around here. The Conservative Party wants to 0:21:34.680 --> 0:21:37.640 whittle it down to two candidates by July twenty one, 0:21:37.720 --> 0:21:40.960 and then pick one by September. But even that is 0:21:41.000 --> 0:21:44.720 too long for many to keep Boris Johnson in number 0:21:44.800 --> 0:21:47.720 Tech Bloomberg's Lizzie Burton says Boris Johnson hopes to stay 0:21:47.760 --> 0:21:50.400 on for at least three more months. Well, Nathan Mack, 0:21:50.440 --> 0:21:53.399 you're in the US relations which China are in focus. Today. 0:21:53.400 --> 0:21:57.000 President Biden meets to discuss possible reductions in US tariffs 0:21:57.000 --> 0:22:00.720 on Chinese goods. We spoke with National Economic Council Director 0:22:00.760 --> 0:22:03.199 Brian Deese about the move, and he says there are 0:22:03.240 --> 0:22:06.359 other options for taking on China. Tariffs are one tool, 0:22:06.400 --> 0:22:08.520 but we have other tools as well to make sure 0:22:08.560 --> 0:22:11.440 that we are protecting key sectors of the American economy 0:22:11.600 --> 0:22:14.879 and that we are holding to account for those brands. 0:22:15.000 --> 0:22:17.720 Was a guest on Bloomberg Surveillance herd Weekday Mornings on 0:22:17.760 --> 0:22:20.720 Bloomberg Radio. Well nexs Karen, we hear from the administration 0:22:20.760 --> 0:22:23.040 once again when we get that June jobs reports that's 0:22:23.040 --> 0:22:26.080 expected to show a slowdown and hiring. Labor Secretary Marty 0:22:26.160 --> 0:22:29.320