WEBVTT - Bloomberg Daybreak: October 24, 2022 - Hour 2 (Radio) 0:00:01.320 --> 0:00:04.560 Live from the Bloomberg Interacted Berger Studios. This is Bloomberg 0:00:04.640 --> 0:00:09.080 Daybreak for Monday, October two. Coming up, the shower stocks 0:00:09.119 --> 0:00:12.799 in Asia tumble as China's Jan Pain stacks his leadership 0:00:12.880 --> 0:00:16.480 ranks with loyalists Rishi Sunac moves closer to becoming UK's 0:00:16.600 --> 0:00:19.560 next prime minister. UK Bond's rally on the Hope Sport, 0:00:19.560 --> 0:00:22.520 fiscal responsibility from Sunac, and a big week for earnings 0:00:22.560 --> 0:00:26.200 of Apple, Amazon, and Microsoft, all reporting New York had 0:00:26.239 --> 0:00:29.400 sixty two million dollars to make the city subway system safer. 0:00:29.520 --> 0:00:32.600 Plus Ukraine denies Russia's warning of a dirty bomb from Key. 0:00:32.800 --> 0:00:35.720 I'm Michael Barne. More ahead, I'm John Stashower And sports. 0:00:35.760 --> 0:00:38.760 The Yankee season is overswept by the Astros. They'll play 0:00:38.800 --> 0:00:41.239 the Phillies of the World Series. The Jets of Giants 0:00:41.360 --> 0:00:47.280 keep winning. That's all's trendy. Head on Bloomberg Daybreak on 0:00:47.400 --> 0:00:51.520 Bloomberg e Living Free on New York, Bloomberg one, Washington, 0:00:51.640 --> 0:00:55.240 d C, Bloomberg one oh six one, Boston, Bloomberg nine 0:00:55.320 --> 0:00:59.560 sixties and Francisco Sirius x M one nineteen and around 0:00:59.560 --> 0:01:03.000 the world. The Bloomberg Radio dot Com and the Bloomberg 0:01:03.040 --> 0:01:10.080 business side. Good Monday morning. I'm Amy Morris and I'm Karen. 0:01:10.160 --> 0:01:13.640 Moscow and US Dock Index futures are raised earlier declines. 0:01:13.840 --> 0:01:15.920 It is coming up to six one on Wall Street 0:01:15.959 --> 0:01:17.800 and we check the markets every fifteen minutes in while 0:01:17.840 --> 0:01:19.920 the trading day on Bloomberg right now, S and P 0:01:20.120 --> 0:01:23.039 futures are up four points, now futures up thirty eight 0:01:23.120 --> 0:01:26.000 and nastay futures are up almost three. The decks in 0:01:26.080 --> 0:01:28.360 Germany is up one point one percent and a ten 0:01:28.440 --> 0:01:31.000 year treasury up eleven thirty seconds. He had four point 0:01:31.080 --> 0:01:33.720 one seven percent and they yelled on the two year 0:01:33.840 --> 0:01:37.720 four point four six percent, Amy Karen. Stocks are coming 0:01:37.760 --> 0:01:41.320 off their best week since June. US Central bankers say 0:01:41.360 --> 0:01:44.520 the next phase in their campaign to curb inflation will 0:01:44.520 --> 0:01:46.600 be a debate on how high to raise rates and 0:01:46.680 --> 0:01:49.760 when to slow the pace if increases. Lamar Villery, a 0:01:49.880 --> 0:01:53.120 partner and portfolio manager at Fillery and Company, says a 0:01:53.200 --> 0:01:56.160 FED pivot is key for sentiment. It just would kind 0:01:56.160 --> 0:01:59.400 of give everybody, I think, a sense of confidence that 0:02:00.080 --> 0:02:03.800 you know, we're out of this uber hike environment and 0:02:04.040 --> 0:02:06.960 potentially you know, yeah, if if you know if we 0:02:07.000 --> 0:02:09.799 get in placed under control and then the economy slows down, 0:02:10.200 --> 0:02:14.240 potentially you could see some rate cuts next year. Lamar 0:02:14.360 --> 0:02:16.799 Villery at Billary and Company says there's even a chance 0:02:16.880 --> 0:02:20.440 the Fed does not raise rates in December. Well, outside 0:02:20.440 --> 0:02:22.560 of the fan amy, the focus this week is mainly 0:02:22.639 --> 0:02:25.000 on earning, So you're gonna slew a big tech companies 0:02:25.040 --> 0:02:28.000 reporting and here with the preview as Bloomberg's Charlie Pellett, 0:02:28.320 --> 0:02:30.519 it's a huge week because we hear from names that 0:02:30.560 --> 0:02:35.359 will include Apple, Alphabet, Microsoft, Metal Platforms, Amazon and until 0:02:35.600 --> 0:02:38.760 Dan ives Is with web Bush Securities, and it's most 0:02:38.800 --> 0:02:42.400 important tech earnings teasing potentially in the last two years 0:02:42.680 --> 0:02:45.720 because of what's happened overall demand store in terms of 0:02:45.760 --> 0:02:49.160 the macro, tech needs to prove that the resilience is 0:02:49.200 --> 0:02:51.760 there and not just tech this week, other big names 0:02:51.840 --> 0:02:55.640 include ex On Mobile, three, m Ford, Boeing, and Coca Cola, 0:02:55.919 --> 0:02:59.760 among many many others in New York. Charlie Pellet Bloomberg 0:02:59.800 --> 0:03:02.400 Tape break, Thank you Charlie and Asia. Over the weekend, 0:03:02.440 --> 0:03:05.239 it was all about politics. President Ji jin Ping started 0:03:05.280 --> 0:03:09.000 his third term by stacking China's most powerful body with 0:03:09.200 --> 0:03:12.480 his allies. The move gives him unfettered control over the 0:03:12.560 --> 0:03:16.600 world's second largest economy. Speaking to the party's gathering on Sunday, 0:03:16.919 --> 0:03:20.320 she committed to reforming and opening up the economy. Here 0:03:20.360 --> 0:03:25.800 he is speaking through an interpreter. China's economy has great resilience, 0:03:25.919 --> 0:03:29.720 potential and latitude. It's strong fundamentals will not change and 0:03:29.800 --> 0:03:32.720 it will remain on a positive trajectory over the long run. 0:03:33.240 --> 0:03:36.040 China will open its doors ever wider. We will step 0:03:36.160 --> 0:03:39.280 fast over deepening reform and opening up across the board. 0:03:39.680 --> 0:03:42.480 Marcuts did not react favorably to Si jin Ping's move 0:03:42.560 --> 0:03:46.200 to stackers leadership ranks to the loyalists. China's currency weekend 0:03:46.280 --> 0:03:48.720 in the country's stocks tumble to the lowest level since 0:03:48.760 --> 0:03:51.760 two thousand and eight. Bloombery Daybreak Asia anchor Brian Curtis 0:03:51.840 --> 0:03:54.480 has more from Hong Kong. It's a sharp rebuke to 0:03:54.600 --> 0:03:58.080 one man rule, a break from collective leadership over the 0:03:58.160 --> 0:04:01.760 past many decades. In the more policies staked on COVID 0:04:01.880 --> 0:04:06.040 zero and state owned enterprises Alibaba, dot Com and ten 0:04:06.200 --> 0:04:09.680 Cent all down eight to twelve percent during the session. Meantime, 0:04:09.760 --> 0:04:12.680 China's long delayed data showed mixed recovery in the third 0:04:12.760 --> 0:04:16.920 quarter on employment rows and retail sales weakened. In September 0:04:17.320 --> 0:04:20.480 third quarters GDP up three point nine percent, better than 0:04:20.560 --> 0:04:23.760 the three point three percent estimate in Hong Kong. Brian 0:04:23.839 --> 0:04:27.479 Curtis Bloomberg debre thanks Brian staying in Asia now. Former 0:04:27.560 --> 0:04:31.320 Treasury Secretary Larry Summers is weighing in on policy in Japan. 0:04:31.880 --> 0:04:35.080 He's watching financial developments out of Tokyo given the potential 0:04:35.160 --> 0:04:39.200 for difficulties if the country abandons its pegged bond heeled policy. 0:04:39.520 --> 0:04:42.799 There's been a lot of borrowing money UH in Japan 0:04:43.000 --> 0:04:46.320 to finance things all over the world, and so if 0:04:46.400 --> 0:04:50.920 Japanese interest rates start to change, that could be a 0:04:50.960 --> 0:04:54.640 pretty big deal. Former Treasury Secretary Lawrence Summers made those 0:04:54.680 --> 0:04:57.800 comments on Bloomberg's Wall Street Week Catch the program every 0:04:57.839 --> 0:05:01.760 week Fridays at six pm Eastern on Bloomberg Radio and television. 0:05:02.040 --> 0:05:04.280 Well in Europe this morning, aiming the political action is 0:05:04.320 --> 0:05:07.200 still front and center. Rishi Sunac has taken a big 0:05:07.240 --> 0:05:09.600 step to her becoming the next Prime Minister of the UK, 0:05:09.920 --> 0:05:11.520 and we go to London and get the leadersh of 0:05:11.560 --> 0:05:14.479 Bloomberg's un parts good morning you, and good morning Karen 0:05:14.480 --> 0:05:16.760 and Amy. We should know the name of Britain's next 0:05:16.800 --> 0:05:20.880 prime minister later today. Former Chancellor Rishi Sunac is the 0:05:20.960 --> 0:05:24.080 clear favorite to take over as the country's fifth leader 0:05:24.400 --> 0:05:27.679 in less than seven years. His only remaining opponent, Penny 0:05:27.720 --> 0:05:30.360 more Than, is yet to get the one endorsements from 0:05:30.440 --> 0:05:34.200 lawmakers need to make the final runoff. Boris Johnson, who 0:05:34.240 --> 0:05:36.440 cut shorts his holiday in the Caribbean to fly back 0:05:36.440 --> 0:05:39.200 to the UK now, says it's not the right time 0:05:39.480 --> 0:05:41.960 to enter the race in London. I'm you and pots, 0:05:42.080 --> 0:05:44.760 but make daybreak. Thanks you, and oil is lower to 0:05:44.880 --> 0:05:47.440 begin the week right now now, Amex crude is down 0:05:47.520 --> 0:05:50.480 one and a half percent. President Biden's top energy advisor, 0:05:50.520 --> 0:05:54.400 Amos hostein taking aim at OPEC, saying OPEC's recent output 0:05:54.480 --> 0:05:57.720 cut was a largely political move. Nobody can argue that 0:05:57.800 --> 0:06:00.520 it was warranted for any economic reason. Did and even 0:06:00.520 --> 0:06:02.800 open when they announced two million and then they say, well, 0:06:02.960 --> 0:06:05.520 we're not actually gonna cut two million, We're just gonna 0:06:05.600 --> 0:06:07.799 cut nine hundred, And then you look a little deeper 0:06:08.240 --> 0:06:10.599 and it's really just about five hundred. So the impact 0:06:10.640 --> 0:06:12.599 on the market is not going to be as significant. 0:06:13.120 --> 0:06:15.640 Uh So this was more of a big political statement. 0:06:15.880 --> 0:06:18.520 It was Oxeen making those comments on CBS Space the 0:06:18.600 --> 0:06:22.680 Nation catch that program every Sunday on Bloomberg Radio. Well, 0:06:22.800 --> 0:06:26.000 speaking of political moves, here, Amy that January six hearings 0:06:26.040 --> 0:06:28.680 like Capitol Hill are back in focus. Co chair of 0:06:28.720 --> 0:06:31.600 the January six committee, List Cheney says Donald Trump will 0:06:31.760 --> 0:06:34.920 not be allowed to testify live on television before the committee. 0:06:35.080 --> 0:06:38.239 On Bloomberg and Baxter has that story, Jenney says Donald 0:06:38.240 --> 0:06:41.040 Trump will not be allowed to turn any testimony before 0:06:41.080 --> 0:06:43.080 the committee into a circus. This isn't going to be, 0:06:43.600 --> 0:06:46.240 you know, his first debate against Joe Biden and the 0:06:46.320 --> 0:06:48.360 circus and the food fight that that became this. This 0:06:48.560 --> 0:06:52.080 is far too serious set of issues, and we've made 0:06:52.160 --> 0:06:56.920 clear exactly what his obligations are. Training on NBC has 0:06:56.960 --> 0:06:59.840 heard on Bloomberg says a level of discipline and vigor 0:07:00.200 --> 0:07:03.520 that the herring deserves will be observed in San Francisco, 0:07:03.560 --> 0:07:06.640 I'm at Baxter Bloomberg Daybreak. Thanks Ad. Bloomberg Daybreak is 0:07:06.680 --> 0:07:09.080 brought to you by b and Y Melon's Pershing Or 0:07:09.200 --> 0:07:12.240 learn why the world's most sophisticated wealth management and institutional 0:07:12.320 --> 0:07:15.840 firms rely on Pershing to help them improve profitability, create efficiency, 0:07:16.000 --> 0:07:23.280 attract talent, and manage risk at Pershing dot com six 0:07:23.400 --> 0:07:25.600 or seven on Wall Street. Let's bring in Michael bar 0:07:25.680 --> 0:07:27.360 to find out what else is going on in New 0:07:27.440 --> 0:07:29.800 York in a round the world. Thank you very much, Amy. 0:07:29.880 --> 0:07:33.200 New York Governor Kathy Hokel and Mayor Eric Adams say 0:07:33.280 --> 0:07:36.480 they will bolster spending on the city's subway system. They 0:07:36.560 --> 0:07:39.280 plan to add sixty two million dollars to deploy more 0:07:39.360 --> 0:07:43.320 police officers and removing severely mentally ill homeless people amid 0:07:43.360 --> 0:07:46.560 a series of high profile killings and other crimes on 0:07:46.680 --> 0:07:50.800 the transit system. Hocal and Adams acknowledge that writers continue 0:07:50.800 --> 0:07:53.760 to feel threatened using the largest mass transit system in 0:07:53.800 --> 0:07:57.520 the US. In one recent attack, the NYPD is searching 0:07:57.600 --> 0:08:00.160 for a man seen pushing another man onto of the 0:08:00.200 --> 0:08:03.880 subway tracks and an unprovoked attack and then running away. 0:08:04.320 --> 0:08:06.920 The victim, David Martin, suffered a broken collar bone and 0:08:07.080 --> 0:08:11.040 swollen face from New York and love New York and 0:08:11.160 --> 0:08:13.320 always thought they'd taken the train And now at thirties 0:08:13.320 --> 0:08:15.720 two years old and no longer feels safe. And that's 0:08:15.800 --> 0:08:18.440 that's not there, and that's not okay. The announcement comes 0:08:18.560 --> 0:08:22.280 nine months after hocol and Adams unveiled a subway safety 0:08:22.320 --> 0:08:25.400 plan to deal with an increase in crime during the pandemic. 0:08:25.800 --> 0:08:29.360 Governor Hocal and a Republican challenger, Lees Elden, will face 0:08:29.520 --> 0:08:33.880 off tomorrow in their one and only debate before election day. Hocole, 0:08:34.000 --> 0:08:37.000 who once held a double digit lead over Zelden, has 0:08:37.120 --> 0:08:39.800 only a four percentage point edge according to the Lettis 0:08:39.880 --> 0:08:43.960 Quinnippie Act University poll. However, a Sienna College poll gave 0:08:44.040 --> 0:08:47.440 hocol and eleven point lead, released on the same day. 0:08:47.880 --> 0:08:50.600 Bail reform has become a major issue in the campaign 0:08:51.280 --> 0:08:54.280 ahead of November's mid term elections. New polling shows that 0:08:54.360 --> 0:08:57.679 both parties have their areas of strength, but Republicans are 0:08:57.679 --> 0:08:59.599 starting to open up a gap on some of the 0:08:59.640 --> 0:09:03.480 big she was including inflation and crime. Mark short, the 0:09:03.679 --> 0:09:07.280 former chief of staffed Vice President Mike Pence, says Republicans 0:09:07.320 --> 0:09:09.240 are going to win in November because it is a 0:09:09.280 --> 0:09:12.160 referendum on Joe Biden. Is clear that Donald Trump had 0:09:12.200 --> 0:09:14.520 a huge influence over the primary. He has a core 0:09:14.600 --> 0:09:17.840 base of roughly and a lot of the candidacy championed 0:09:17.920 --> 0:09:22.400 one with this primary. Mark Short spoke on a d 0:09:22.520 --> 0:09:25.079 c S this week, which can be heard Sundays on Bloomberg. 0:09:25.520 --> 0:09:28.760 Russia's defense chief has alleged that Ukraine was preparing a 0:09:28.920 --> 0:09:34.040 provocation involving a radioactive device star claim that was strongly 0:09:34.120 --> 0:09:38.760 rejected by US, Ukrainian and British officials. Russia repeatedly has 0:09:38.840 --> 0:09:42.240 main allegations that Ukraine could detonate a dirty bomb and 0:09:42.320 --> 0:09:45.280 blame it on Moscow. Global News twenty four hours a 0:09:45.400 --> 0:09:48.480 day on air and on Bloomberg Quicktake, powered by more 0:09:48.559 --> 0:09:50.959 than twenty seven hundred journalists and analysts more than a 0:09:51.080 --> 0:09:54.600 hundred twenty countries. Hi, Michael Barr and this is Bloomberg, Amy, 0:09:55.000 --> 0:10:00.720 all right, thank you, Michael street Ton alfat the Bloomberg 0:10:00.800 --> 0:10:03.520 Sports Update, brought to you by Try State OUTI here's 0:10:03.679 --> 0:10:05.599 John stash Our. All right, Amy. For so much of 0:10:05.640 --> 0:10:08.360 the summer there was talking maybe a Subway World Series 0:10:08.400 --> 0:10:10.079 in New York. Instead, the World Series will be the 0:10:10.120 --> 0:10:13.320 Phillies against the Astros starting Friday and Houston. The Astro 0:10:13.400 --> 0:10:15.920 still have not lost in the postseason. Early on off 0:10:15.960 --> 0:10:18.040 the stadium, Lord, the Yankees might stay alive. They led 0:10:18.080 --> 0:10:21.600 three nothing, and after yet another Harrison Bada home run, 0:10:21.640 --> 0:10:23.160 they're up five four and the seventh and in the 0:10:23.200 --> 0:10:26.040 Astros score twice game time hit by Jordan Alvarez off 0:10:26.120 --> 0:10:29.760 Jonathan Laska, go ahead hit by Alex Bregman, Clay Homes, 0:10:29.800 --> 0:10:33.240 costly error by Labor Torres. The Astros won six five 0:10:33.360 --> 0:10:35.760 for the series sweep. It's their fourth pennant in the 0:10:35.880 --> 0:10:39.080 last six years. Aaron Judge made the final out, ended 0:10:39.160 --> 0:10:41.480 his historic home run hitting season. Did it end his 0:10:41.640 --> 0:10:44.360 career with the Yankees? Will be a free agent earlier. 0:10:44.400 --> 0:10:46.640 On a rainy day in Philly, the fields trailed the 0:10:46.679 --> 0:10:55.079 Padres eight Swingingna tried left field. It's deep, it's dead, Yes, 0:10:57.040 --> 0:11:02.839 it is the place. Hard the Phillies have you? I 0:11:02.920 --> 0:11:05.120 paid the call hard from The Phillies won four three 0:11:05.200 --> 0:11:08.000 over San Diego to win the NLCS four to one. 0:11:08.040 --> 0:11:11.120 While baseball season New York is over, football is alive 0:11:11.200 --> 0:11:13.720 and while Giants and Jets both won for the fourth 0:11:13.760 --> 0:11:16.080 week in a row, both on the road. Giants get 0:11:16.080 --> 0:11:19.920 another comeback, winning twenty three to seventeen in Jacksonville. They 0:11:19.920 --> 0:11:21.079 had to hold on at the end. They had to 0:11:21.120 --> 0:11:23.440 hold on to the Jazz wide out at the one 0:11:23.520 --> 0:11:25.920 yard line on the final play. The Jets won sixteen 0:11:25.960 --> 0:11:28.240 to nine in Denver. The Giants and Jets last year 0:11:28.600 --> 0:11:31.800 a combined eight and twenty six. This year thirteen and 0:11:31.960 --> 0:11:34.800 three seven oh. On the road at the Garden, Rangers 0:11:34.840 --> 0:11:37.840 lost to Columbus five to one. Islanders lost in Florida 0:11:37.880 --> 0:11:41.520 three to two. John Stashward, Bloomberg Sports, All right, thank you, 0:11:41.720 --> 0:11:44.280 John SMP features are down one and a half points, 0:11:44.280 --> 0:11:47.520 stal features down, are up to DALT features up to 0:11:47.760 --> 0:11:50.520 NAZAC features down twenty seven and a quarter. The ten 0:11:50.640 --> 0:11:53.800 year tragury down a fraction, the yield at four point 0:11:53.880 --> 0:11:56.719 four seven percent. Much more still to come. On this 0:11:56.840 --> 0:12:00.320 Monday morning edition of Bloomberg day Break. This is blue Burg. 0:12:07.280 --> 0:12:09.560 The Bloomberg Sports Report was brought to you by Audie. 0:12:09.600 --> 0:12:11.720 Don't let someone else drive off in the Audi model 0:12:11.840 --> 0:12:14.840 you've always wanted. Visit your local Tri state Audie dealer 0:12:14.920 --> 0:12:17.600 to get behind the wheel of yours today. Visit Audie 0:12:17.640 --> 0:12:23.800 Offers dot com for more information, markets, headlines and breaking 0:12:23.840 --> 0:12:26.720 news twenty four hours a day. At Bloomberg dot com, 0:12:26.880 --> 0:12:30.480 the Bloomberg Business At and at Bloomberg Quicktape. He's a 0:12:30.520 --> 0:12:39.800 Bloomberg business lash and I'm Karen Moscow and just watching 0:12:39.840 --> 0:12:43.400 this headline crossing the Bloomberg Schlumberg is changing its name 0:12:43.440 --> 0:12:47.319 to s LB. It's a pivot to embrace clean tech. 0:12:47.920 --> 0:12:51.760 US DOT Index futures. Meanwhile, some improvement this morning. S 0:12:51.800 --> 0:12:55.160 and P futures are now higher. This despite that route 0:12:55.200 --> 0:12:57.960 in Chinese shares, which is weighing on sentiment. Investors are 0:12:57.960 --> 0:13:00.040 awaiting the next batch of earnings from some of the 0:13:00.040 --> 0:13:03.280 world's biggest companies. Treasury yields are dipping, the dollar gaining. 0:13:03.320 --> 0:13:05.880 We checked the markets every fifteen minutes throughout the trading day. 0:13:06.240 --> 0:13:08.880 On Bloomberg S and P. Future is up six points down, 0:13:08.920 --> 0:13:11.600 Future is up sixty three NASDAG futures that will change 0:13:11.880 --> 0:13:14.560 and decks in Germany's up one point one percent. Ten 0:13:14.640 --> 0:13:16.920 year treasury up ten thirty seconds. You have four point 0:13:16.960 --> 0:13:19.040 one seven percent and the yield them the two year 0:13:19.120 --> 0:13:22.160 four point four seven percent. Nim X Screwed oil is 0:13:22.200 --> 0:13:24.360 down one point four percent on a dollar twenty two 0:13:24.400 --> 0:13:27.000 and eighty three dollars eighty three cents of barrel comics 0:13:27.040 --> 0:13:28.640 gold is down a tenth of uper cent or two 0:13:28.640 --> 0:13:31.719 dollars twenty cents is sixteen fifty four ten announced the 0:13:31.840 --> 0:13:34.920 euro point three four against the dollar, British found one 0:13:34.960 --> 0:13:37.520 point one three four one and the end one forty 0:13:37.600 --> 0:13:40.959 nine point three two and Bitcoin this morning down four 0:13:41.040 --> 0:13:43.720 ten percent in nineteen thousand, four hundred twenty one dollars. 0:13:44.040 --> 0:13:46.640 That's a Bloomberg business flash. Now here's Michael Barr with 0:13:46.760 --> 0:13:49.440 more on what's going on around the world. Michael, thank 0:13:49.480 --> 0:13:52.360 you very much. Karen. Former British Prime Minister Boris Johnson 0:13:52.440 --> 0:13:55.520 says you will not run to leave the Conservative Party, 0:13:55.640 --> 0:13:58.920 ending intense speculation about a comeback. Johnson, who was an 0:13:58.960 --> 0:14:01.880 ounced it in July mid ethics scandals, was a wild 0:14:01.960 --> 0:14:05.280 card to replace Liz trust who quit last week. His 0:14:05.480 --> 0:14:09.720 withdrawal leaves former Treasury chief Rishi Sunak the strong favorite 0:14:09.760 --> 0:14:13.599 to be Britain's next new prime minister. Officials in the 0:14:13.720 --> 0:14:16.520 U S wore that Russia could be making preparations to 0:14:16.679 --> 0:14:20.320 detonate a dirty bomb in Ukraine and blame it on Kiev. 0:14:20.920 --> 0:14:23.440 In baseball, it will be the Astros against the Phillies 0:14:23.480 --> 0:14:26.320 in the World Series. The Yankees were swept by Houston 0:14:26.440 --> 0:14:29.480 Sunday in the a LCS and Game four, six, five 0:14:29.840 --> 0:14:32.440 the Phillies beat the Padres for three to win in 0:14:32.520 --> 0:14:36.720 the NLCS four games to one. Football, the Giants, Jets, 0:14:36.760 --> 0:14:39.880 and Commanders all one. The forty Niners lost in the NBA, 0:14:39.960 --> 0:14:42.760 The Wizards lost the Warriors one. In the NHL, the 0:14:42.880 --> 0:14:45.920 Islanders and Rangers lost. Global News twenty four hours a 0:14:46.040 --> 0:14:49.000 day on air and on Bloomberg Quicktake, powered by more 0:14:49.120 --> 0:14:51.960 than twenty journalists and analysts and more than a hundred 0:14:52.000 --> 0:14:55.320 twenty countries. I'm Michael Barr, and this is Bloomberg. Amy. 0:14:55.880 --> 0:14:58.240 All right, thank you, Michael. It is six twenty on 0:14:58.320 --> 0:15:01.560 Wall Street Live from the Bloomberg Interactive Broker Studios. This 0:15:01.640 --> 0:15:05.400 is Bloomberg Daybreak. China released its postponed third quarter GDP 0:15:05.520 --> 0:15:08.120 and other September economic data that was delayed as the 0:15:08.200 --> 0:15:11.240 nation's top political event, the Party Congress was underway and 0:15:11.320 --> 0:15:14.560 weigh on market sentiment, joining us now Bloomberg Chief for 0:15:14.640 --> 0:15:18.720 Asia Economics correspondent and occurrent. And and during all of 0:15:18.800 --> 0:15:21.480 that a lot has happened. Let's start with the politics 0:15:21.560 --> 0:15:25.080 with Jin being over the weekend and what it all means. Yeah, 0:15:25.080 --> 0:15:28.360 it was basically President Sheeting paying to maintenance control over 0:15:28.760 --> 0:15:31.280 the government. Amy, if there was on he doubt he 0:15:31.440 --> 0:15:34.760 just confirmed that he's going for He's breaking money of 0:15:34.840 --> 0:15:37.680 recent norms. He's going for a third term. He has 0:15:37.720 --> 0:15:41.320 put in placed party chiefs from Beijing, from Guangdong, from 0:15:41.360 --> 0:15:45.560 Shanghai in too key positions within the party administrations, and 0:15:45.680 --> 0:15:48.960 he surrounded him felt by all of these key supporters 0:15:49.360 --> 0:15:52.040 and former college you've walked with him, which people are 0:15:52.040 --> 0:15:54.680 interpreting and saying. Of course, China was doubled down on 0:15:54.800 --> 0:15:57.800 some of the signature policies presidents she hasn't has been pursuing. 0:15:58.160 --> 0:16:02.000 So that's the idea of more self reliability in areas 0:16:02.040 --> 0:16:07.920 like technology, more homegrown innovation. Obviously, of course ongoing tensions 0:16:08.000 --> 0:16:10.920 over key geophysical hot spots. But President she did actually 0:16:10.960 --> 0:16:13.080 send a message that some people thought was a little 0:16:13.080 --> 0:16:14.720 bit private with me all that did make it clear 0:16:14.800 --> 0:16:16.840 that he wants to try to remain open to the 0:16:16.880 --> 0:16:19.600 rest of the world and doing business with the rest 0:16:19.640 --> 0:16:22.280 of the world economy. So there's a domestic Chinese political 0:16:22.320 --> 0:16:24.040 story for sure. Now that the question of how this 0:16:24.320 --> 0:16:27.000 will play out on the global stage as well. Is 0:16:27.120 --> 0:16:29.040 this a power grab or is there something else going 0:16:29.120 --> 0:16:35.840 on here? Well, it's clearly a consolidation of president. She's power, 0:16:35.920 --> 0:16:38.640 there's no doubt about that. I mean, typically in recent years, 0:16:38.720 --> 0:16:41.360 recent decades, the convention has been that at this point 0:16:41.360 --> 0:16:43.480 of president she would have moved on, any successor would 0:16:43.480 --> 0:16:45.280 have come in. But this time around, of course, there 0:16:45.360 --> 0:16:47.440 hasn't even been a clear success to a point to 0:16:47.520 --> 0:16:50.120 a need the key roles that might take over the 0:16:50.240 --> 0:16:53.440 leadership of child from here. It's also clear that he's 0:16:53.480 --> 0:16:55.480 govern down and all of the policies that he's been 0:16:55.760 --> 0:16:59.080 sort of pursuing in recent years, including those that are 0:16:59.080 --> 0:17:01.360 of course controversial glowly beat up the you know, the 0:17:01.440 --> 0:17:04.520 crackdown and engaging tensions with Taiwan, cracktown in Hong Kong, 0:17:05.080 --> 0:17:07.920 tensions with the US, there all of branch, no hint 0:17:07.960 --> 0:17:09.840 of the course change of that type of things. And 0:17:09.960 --> 0:17:13.120 then of course on the sort of domestic or economics front, 0:17:13.520 --> 0:17:16.600 no hint of a pivot on real estate, the realitated 0:17:16.640 --> 0:17:20.200 slumb or of course on COVID zero either. So you know, 0:17:20.320 --> 0:17:24.600 despite the headlines of dramatic imposition of key personality in 0:17:24.640 --> 0:17:27.960 the key post, not everyone is predicting an immediate change 0:17:28.000 --> 0:17:31.120 of policy course anytime soon. What does it signal then, 0:17:31.160 --> 0:17:33.000 to the rest of the world. And how does Taiwan 0:17:33.119 --> 0:17:38.760 factor into all this. Well, it signals that again domestically, 0:17:38.920 --> 0:17:41.159 President She is obviously in the powerful position. He feels 0:17:41.240 --> 0:17:43.560 comfortable enough that he's got a grip on the entire 0:17:43.640 --> 0:17:46.440 government of Apperats to stay in officer and carry on. 0:17:47.000 --> 0:17:50.000 That means he will be pursuing those policies that include 0:17:50.000 --> 0:17:54.400 on the foreign policy front, will likely to ongoing clashes 0:17:54.480 --> 0:17:57.240 with the US. There's no sign of that tension easing 0:17:57.320 --> 0:18:01.359 at all, especially given the latest restriction on exporting technology 0:18:01.400 --> 0:18:04.800 to to China. There is a view that maybe President 0:18:04.840 --> 0:18:06.960 She will try to play off the US against Europe. 0:18:07.000 --> 0:18:10.800 For example, there's name expected expectations to a large scale 0:18:10.840 --> 0:18:13.920 German business delegation to arrive in China overcoming weeks, So 0:18:13.960 --> 0:18:17.320 we will have this narrative going forward of polity attentions, 0:18:17.640 --> 0:18:21.159 will of course tension over Taiwan that's not going to 0:18:21.240 --> 0:18:23.720 go away anytime soon, and we will of course then 0:18:23.840 --> 0:18:27.480 have US China containment and completion and rivalry stories happening. 0:18:27.800 --> 0:18:30.080 But there's also a view that China will also try 0:18:30.119 --> 0:18:32.520 and play off with the rest of the world Emerging World, Africa, 0:18:32.600 --> 0:18:35.040 Europe's cetera. To try and keep its place on this 0:18:35.119 --> 0:18:37.240 global stage. So it's um you know, it would be 0:18:37.240 --> 0:18:39.360 a dubbing down of President She's policies, but there won't 0:18:39.359 --> 0:18:42.159 be simple stories here and we only have about a 0:18:42.200 --> 0:18:44.439 minute here. But I gotta ask what you are watching 0:18:44.520 --> 0:18:48.399 for specifically incoming days. I think you just have to 0:18:48.440 --> 0:18:51.560 watch any new language from the new people in key positions, 0:18:51.800 --> 0:18:53.480 whether or not there will be a pivot on key 0:18:53.560 --> 0:18:56.760 policies overcoming overcoming weeks and months. It's probably unlikely we'll 0:18:56.800 --> 0:18:59.040 get those signals any time soon, but it's certainly what's 0:18:59.080 --> 0:19:02.200 keeping it out. And I first, all right, Bloomberg Chief 0:19:02.280 --> 0:19:05.040 Asia Economics correspondent and occur, and I want to thank 0:19:05.080 --> 0:19:07.280 you for taking the time with us, telling us and 0:19:07.560 --> 0:19:09.680 bringing us up to speed about what's been going on 0:19:09.760 --> 0:19:11.920 with shij and Ping over the weekend in China, the 0:19:12.040 --> 0:19:14.880 blatant power grab that someone are describing as what he's 0:19:14.920 --> 0:19:20.000 doing stacking his political body with his allies. Much more 0:19:20.080 --> 0:19:23.000 still to come on Bloomberg Daybreak. We're checking the markets now. 0:19:23.400 --> 0:19:27.040 SNP futures up nine point seven five percent, DAL futures 0:19:27.119 --> 0:19:30.440 up ninety one, NASDAD futures up to almost ten. The 0:19:30.600 --> 0:19:34.560 ten year price up ninety seconds, the yield at four 0:19:34.680 --> 0:19:37.520 point one seven, the two year yield at four point 0:19:37.680 --> 0:19:40.080 for seven percent. Much more still to come on this 0:19:40.200 --> 0:19:43.719 Monday morning edition of Bloomberg Daybreak. As we check the markets, 0:19:43.920 --> 0:19:46.280 will also be bringing you the latest news in business, 0:19:46.359 --> 0:19:48.840 economics and finance. It's gonna keep an eye on everything 0:19:48.880 --> 0:19:51.680 that's going on in the UK and in China, as 0:19:51.760 --> 0:19:54.240 well as closer to home, we're gonna take a look 0:19:54.320 --> 0:19:58.000 at how Nevada may be factoring into the mid terms. 0:19:58.119 --> 0:20:00.080 Much more still to come. Stay with us. This is 0:20:00.119 --> 0:20:10.000 Bloomberg Bloomberg eleven three oh weather. Scattered showers today going 0:20:10.080 --> 0:20:12.479 up to sixty five degrees, down to sixty with more 0:20:12.560 --> 0:20:15.520 dristle tonight, mostly thouty tomorrow, a chance of rain going 0:20:15.600 --> 0:20:18.520 up to seventy degrees. The rain sticks around for Wednesday. 0:20:22.000 --> 0:20:26.520 Broadcasting live from the Bloomberg Interactive Broker Studio in New York, 0:20:26.640 --> 0:20:31.280 Bloomberg elving fre to Washington, d C, Bloomberg on to Boston, 0:20:31.440 --> 0:20:34.840 Bloomberg one O six one to San Francisco, Bloomberg nine 0:20:34.960 --> 0:20:37.720 six to the Country, Sirius XM to the one nine 0:20:38.119 --> 0:20:41.280 and around the globe. The Bloomberg Business apt and Bloomberg 0:20:41.359 --> 0:20:50.960 Radio dot com. This is Bloomberg Daybreak at six thirty 0:20:51.040 --> 0:20:53.800 on Wall Street. Good Monday morning. I'm Amy Morris and 0:20:53.880 --> 0:20:56.479 I'm Karen Moscow. We're just about three hours away from 0:20:56.520 --> 0:20:58.600 the open of US training. It's time for the five Things, 0:20:58.640 --> 0:21:00.639 so you need to notice start your brought to you 0:21:00.800 --> 0:21:04.320 by Interactive Brokers. Interactive Brokers clients or an interest of 0:21:04.400 --> 0:21:06.280 up to two point five eight percent on the idle 0:21:06.359 --> 0:21:09.320 cash and their brokerage accounts. Visit ibk R dot com 0:21:09.440 --> 0:21:12.880 slash interest rates to learn more. The first US futures 0:21:12.960 --> 0:21:15.320 are higher now as you begin a new trading wage. 0:21:15.359 --> 0:21:17.680 Stocks are coming off their biggest weekly gain since June. 0:21:17.760 --> 0:21:20.560 The action this morning isn't Asia, though, Hong Kong's Hanging 0:21:20.600 --> 0:21:22.840 sang in dex strap six point eight percent and stocks 0:21:22.880 --> 0:21:25.720 in China fell almost three percent after President she Jin 0:21:25.760 --> 0:21:29.400 Ping's moved to stack his leadership ranks with loyalists. Begin 0:21:29.480 --> 0:21:32.760 more from Bloomberg Stephen Angle in Hong Kong. We speculated 0:21:32.840 --> 0:21:36.200 whether she would continue on with the practice of essentially 0:21:36.520 --> 0:21:40.480 stacking the standing committee with people from different factions. So 0:21:40.520 --> 0:21:43.359 in this case, some of the ju Jentao protegs, but 0:21:43.640 --> 0:21:47.200 it proved on Sunday when he rolled out his other 0:21:47.320 --> 0:21:50.480 six members on the Standing Committee, there was nobody from 0:21:50.520 --> 0:21:54.080