1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:09,960 --> 00:00:13,160 Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 3 00:00:13,160 --> 00:00:14,920 Speaker 2: are the stories we're following today. 4 00:00:15,680 --> 00:00:18,120 Speaker 3: Karen, we are headed into day three of the government 5 00:00:18,200 --> 00:00:21,760 Speaker 3: shutdown in Washington. The Senate is expected to hold another 6 00:00:21,840 --> 00:00:24,560 Speaker 3: vote today on a stopgap spending bill to reopen the 7 00:00:24,600 --> 00:00:28,720 Speaker 3: government into mid November. Democrats are holding firm on demands 8 00:00:28,760 --> 00:00:31,560 Speaker 3: to extend healthcare subsidies that expire at the end of 9 00:00:31,600 --> 00:00:34,639 Speaker 3: the year, and now President Trump is threatening to slash 10 00:00:34,760 --> 00:00:38,080 Speaker 3: jobs at what he calls Democrat agencies that don't align 11 00:00:38,120 --> 00:00:41,400 Speaker 3: with his agenda. White House spokeswoman Caroline Levitt was asked 12 00:00:41,400 --> 00:00:42,800 Speaker 3: how deep the cuts could go. 13 00:00:44,040 --> 00:00:45,680 Speaker 2: It's likely going to be in the thousands. 14 00:00:45,720 --> 00:00:48,479 Speaker 1: It's a very good question, and that's something that the 15 00:00:48,520 --> 00:00:50,680 Speaker 1: Office of Management and Budget and the entire team at 16 00:00:50,720 --> 00:00:53,240 Speaker 1: the White House here again is unfortunately having to work 17 00:00:53,280 --> 00:00:53,720 Speaker 1: on today. 18 00:00:53,840 --> 00:00:56,200 Speaker 3: Press Secretary Caroline Levitt at the White House. Now, some 19 00:00:56,280 --> 00:00:59,160 Speaker 3: budget experts of question whether it's legal to conduct permanent 20 00:00:59,240 --> 00:01:01,880 Speaker 3: lay off during a show down. House Minority Leader Hakim 21 00:01:01,920 --> 00:01:04,800 Speaker 3: Jeffrey says Republicans have refused to negotiate. 22 00:01:04,959 --> 00:01:08,320 Speaker 4: This is the first week of this shutdown, But we've 23 00:01:08,360 --> 00:01:13,039 Speaker 4: had months of chaos and cruelty unleashed on the American people, 24 00:01:13,319 --> 00:01:15,240 Speaker 4: and the American people are paying close attention. 25 00:01:15,440 --> 00:01:18,880 Speaker 3: House Democratic Leader Hakim Jeffreys. A Washington Post poll finds 26 00:01:18,880 --> 00:01:21,720 Speaker 3: more voters blamed President Trump and Republicans for the shutdown 27 00:01:21,720 --> 00:01:24,640 Speaker 3: than Democrats by a seventeen point margin. If the Senate 28 00:01:24,640 --> 00:01:26,920 Speaker 3: does vote today, Majority leader John Thune says he is 29 00:01:27,000 --> 00:01:30,039 Speaker 3: unlikely to hold further votes into the weekend. The House 30 00:01:30,120 --> 00:01:32,479 Speaker 3: doesn't return from its recess until Tuesday. 31 00:01:33,120 --> 00:01:36,440 Speaker 2: Well, Nathan, if it weren't for the governments shutdown, investors 32 00:01:36,440 --> 00:01:39,320 Speaker 2: would be looking forward to the jobs report. That data 33 00:01:39,400 --> 00:01:42,040 Speaker 2: comes out the first Friday of every month, and Bloomberg's 34 00:01:42,080 --> 00:01:44,679 Speaker 2: Michael McKee tells us what we could have expected. 35 00:01:45,080 --> 00:01:48,360 Speaker 5: It's not exactly Sherlock Holmes dog that didn't bark. But 36 00:01:48,680 --> 00:01:52,000 Speaker 5: the government shutdown means no jobs report today, so no 37 00:01:52,120 --> 00:01:55,880 Speaker 5: warning or reassurance on the state of the economy. Alternate 38 00:01:55,920 --> 00:02:01,080 Speaker 5: data ADP employment and ism manufacturing suggesting high remained weak 39 00:02:01,200 --> 00:02:04,320 Speaker 5: in September that, in theory, could keep the Fed on 40 00:02:04,400 --> 00:02:06,200 Speaker 5: track to cut rates at the end of the month. 41 00:02:06,720 --> 00:02:09,320 Speaker 5: The hope, of course, is the folks in Washington can 42 00:02:09,400 --> 00:02:12,239 Speaker 5: settle their little feud and get the payroll data out 43 00:02:12,280 --> 00:02:16,239 Speaker 5: before that and before we miss any other key indicators. 44 00:02:16,800 --> 00:02:18,320 Speaker 5: Michael McKee, Bloomberg Radio. 45 00:02:18,480 --> 00:02:21,160 Speaker 3: All right, Mike, thanks, So the shutdown is got gold 46 00:02:21,200 --> 00:02:24,760 Speaker 3: on track for its seventh consecutive week of gains. Bully, 47 00:02:24,800 --> 00:02:27,079 Speaker 3: it has sorted more than forty five percent this year. 48 00:02:27,120 --> 00:02:29,160 Speaker 3: The price is now on track for the biggest annual 49 00:02:29,200 --> 00:02:33,799 Speaker 3: gain since nineteen seventy nine, and stocks enter today's session 50 00:02:33,880 --> 00:02:37,079 Speaker 3: at all time highs. Walter Todd is chief investment officer 51 00:02:37,120 --> 00:02:38,120 Speaker 3: at Greenwood Capital. 52 00:02:38,480 --> 00:02:40,359 Speaker 6: We think the market's a little bit over at skis 53 00:02:40,480 --> 00:02:42,480 Speaker 6: is kind of I hurt someone say the today price 54 00:02:42,560 --> 00:02:44,800 Speaker 6: for perfection in a very imperfect world. I think that's 55 00:02:44,840 --> 00:02:47,720 Speaker 6: a good description of where we are right now. So 56 00:02:47,840 --> 00:02:52,440 Speaker 6: we do see the opportunity for some broader volatility, even 57 00:02:52,440 --> 00:02:55,160 Speaker 6: though individual name volatility has been significant. 58 00:02:55,240 --> 00:02:58,920 Speaker 3: Greenwood Capitals Walter Todd stock futures are higher this morning, 59 00:02:59,000 --> 00:03:00,880 Speaker 3: setting the S and p F five hundred up for 60 00:03:00,919 --> 00:03:04,120 Speaker 3: a sixth straight gain. That would be its longest winning 61 00:03:04,160 --> 00:03:05,280 Speaker 3: streak since July. 62 00:03:05,919 --> 00:03:08,760 Speaker 2: Now, the latest on the trade war, Nathan Treasury Secretary 63 00:03:08,800 --> 00:03:12,920 Speaker 2: Scott Besson predicts, quote a pretty big big breakthrough in 64 00:03:12,960 --> 00:03:15,400 Speaker 2: the next round of talks with China, even as the 65 00:03:15,400 --> 00:03:19,320 Speaker 2: Trump administration takes steps to support American farmers heard by 66 00:03:19,400 --> 00:03:24,720 Speaker 2: a decline in Chinese purchases of soybeans. Besson spoke on CNBC. 67 00:03:24,639 --> 00:03:28,880 Speaker 7: As I leave the trade negotiations for the US with 68 00:03:28,919 --> 00:03:33,399 Speaker 7: my counterpart on the Chinese side, the Vice Premier. What 69 00:03:33,680 --> 00:03:38,400 Speaker 7: gives us a great comfort is the respect that the 70 00:03:38,440 --> 00:03:40,839 Speaker 7: two leaders have for each other. So it'll be very 71 00:03:40,880 --> 00:03:45,160 Speaker 7: helpful for them to be able to speak in person 72 00:03:45,480 --> 00:03:48,680 Speaker 7: and set the framework for trade going forward. 73 00:03:49,040 --> 00:03:52,680 Speaker 2: Treasury Secretary Scott Besson says the upcoming negotiations will occur 74 00:03:52,800 --> 00:03:57,080 Speaker 2: before the scheduled November tenth truce expiration date. Besson also 75 00:03:57,280 --> 00:04:00,480 Speaker 2: says news on support for American farmers and the soy 76 00:04:00,600 --> 00:04:04,160 Speaker 2: sector in particular is expected to be announced next Tuesday. 77 00:04:04,400 --> 00:04:07,040 Speaker 3: Turning the company news now, Karen, we're watching shares of 78 00:04:07,080 --> 00:04:09,560 Speaker 3: Applied Materials in the pre market. They are down more 79 00:04:09,600 --> 00:04:13,200 Speaker 3: than three percent. The largest US maker of machinery used 80 00:04:13,240 --> 00:04:17,080 Speaker 3: to manufacture semiconductors says an expansion of rules that restrict 81 00:04:17,080 --> 00:04:19,520 Speaker 3: the export of its products to China will take another 82 00:04:19,720 --> 00:04:23,359 Speaker 3: chunk out of its revenue. Applied Materials expects it to 83 00:04:23,400 --> 00:04:27,479 Speaker 3: cost six hundred million dollars in fiscal twenty twenty six, 84 00:04:27,640 --> 00:04:29,280 Speaker 3: which runs through next October. 85 00:04:29,600 --> 00:04:32,320 Speaker 2: We have a setback for Boeing. Nathan Bloomberg News has 86 00:04:32,400 --> 00:04:35,760 Speaker 2: learned the company's seven seventy seven X is slated to 87 00:04:35,839 --> 00:04:38,560 Speaker 2: fly commercially for the first time in early twenty twenty 88 00:04:38,600 --> 00:04:42,240 Speaker 2: seven instead of next year. The delay could result in 89 00:04:42,279 --> 00:04:46,320 Speaker 2: potentially billions of dollars in accounting charges, with analysts estimating 90 00:04:46,360 --> 00:04:49,359 Speaker 2: the non cash accounting charge could run from two and 91 00:04:49,400 --> 00:04:51,919 Speaker 2: a half billion to as much as four billion dollars. 92 00:04:52,200 --> 00:04:55,359 Speaker 2: Boeing executives are set to discuss the extent and cost 93 00:04:55,400 --> 00:04:58,119 Speaker 2: of the latest schedules slip for the jet when Boeing 94 00:04:58,160 --> 00:05:00,160 Speaker 2: reports earnings on October twenty. 95 00:05:00,600 --> 00:05:03,840 Speaker 3: Well Karena was a rough session for credit companies TransUnion 96 00:05:03,880 --> 00:05:07,680 Speaker 3: and Equifax. Their drop came after fair Isaac announced a 97 00:05:07,720 --> 00:05:10,240 Speaker 3: new program that gives mortgage lenders a way to get 98 00:05:10,279 --> 00:05:14,840 Speaker 3: its credit scores without buying them from those companies or experience. 99 00:05:15,320 --> 00:05:18,279 Speaker 3: Shares of fair Isaac, which goes by the name Fiico, 100 00:05:18,880 --> 00:05:20,440 Speaker 3: surged eighteen percent. 101 00:05:21,200 --> 00:05:23,880 Speaker 2: And there may be a big AI deal in the works. 102 00:05:24,000 --> 00:05:28,040 Speaker 2: Nathan Bloomberg News has learned Global Infrastructure Partners As in 103 00:05:28,160 --> 00:05:33,440 Speaker 2: advanced talks to acquire mcquarie backed Aligned Data Centers. Sources 104 00:05:33,480 --> 00:05:36,120 Speaker 2: Aligned could be valued at about forty billion dollars in 105 00:05:36,160 --> 00:05:38,560 Speaker 2: a transaction. A deal with Mark the latest in a 106 00:05:38,720 --> 00:05:41,760 Speaker 2: series of deals as investors buy for exposure to the 107 00:05:41,839 --> 00:05:46,080 Speaker 2: leaders of the AI technology. At forty billion dollars, GP's 108 00:05:46,120 --> 00:05:49,359 Speaker 2: deal for Aligned would rank among the world's five biggest 109 00:05:49,360 --> 00:05:57,040 Speaker 2: transactions this year, according to data compiled by Bloomberg. Time 110 00:05:57,120 --> 00:05:58,800 Speaker 2: now for look at some of the other stories making 111 00:05:58,800 --> 00:06:00,400 Speaker 2: news in New York and around the world world, and 112 00:06:00,440 --> 00:06:03,480 Speaker 2: for that we're joined by Bloomberg's John Tucker. John, Good morning, Yeah, 113 00:06:03,480 --> 00:06:04,279 Speaker 2: and good morning Karen. 114 00:06:04,279 --> 00:06:06,599 Speaker 8: Police in the UK say they've identified the man who 115 00:06:06,680 --> 00:06:10,479 Speaker 8: killed two at a Manchester synagogue where worshippers were gathering 116 00:06:10,520 --> 00:06:13,679 Speaker 8: for Yom Kippor, and Bloomberg's James Wilcock has. 117 00:06:13,520 --> 00:06:16,719 Speaker 9: More Jahad al Shami, a thirty five year old Britcisen 118 00:06:16,800 --> 00:06:20,320 Speaker 9: of Syrian descent. Investigations are still ongoing, and the Home 119 00:06:20,320 --> 00:06:23,040 Speaker 9: Section this morning says two things. Firstly, we don't yet 120 00:06:23,120 --> 00:06:26,359 Speaker 9: know if this is a terrorist cell, and secondly that 121 00:06:26,800 --> 00:06:30,200 Speaker 9: the perpetrate was not known to authority. So it's worth 122 00:06:30,240 --> 00:06:33,359 Speaker 9: saying Al Chami is Arabic for the Syrian and it 123 00:06:33,480 --> 00:06:35,560 Speaker 9: is a sort of a known non deguere for Jahadis 124 00:06:35,600 --> 00:06:37,440 Speaker 9: to take a name, so that may not yet be 125 00:06:37,560 --> 00:06:38,840 Speaker 9: relevant to the investigation. 126 00:06:39,279 --> 00:06:42,040 Speaker 8: The attacker drove his vehicle into worshippers and was shot 127 00:06:42,080 --> 00:06:45,840 Speaker 8: dead by police. Three others remain in the hospital. It's 128 00:06:45,880 --> 00:06:49,240 Speaker 8: sentencing day for Sean Ditty Colms in his prostitution related 129 00:06:49,279 --> 00:06:53,039 Speaker 8: convictions in New York. Prosecutors argue the music mogul deserves 130 00:06:53,040 --> 00:06:55,679 Speaker 8: at least eleven years in prison. Has the defense pushers 131 00:06:55,720 --> 00:06:59,200 Speaker 8: for time served. A fire broke out a Chevron oil 132 00:06:59,320 --> 00:07:02,880 Speaker 8: refinery just outside Los Angeles last night. It's in towering 133 00:07:02,920 --> 00:07:06,520 Speaker 8: flames into the year that were visible for miles. Officials 134 00:07:06,520 --> 00:07:10,320 Speaker 8: and El Segundo urged people to stay indoors. Nobody was hurt, 135 00:07:10,600 --> 00:07:14,120 Speaker 8: and Munich Airport temporarily shut down late yesterday after a 136 00:07:14,120 --> 00:07:17,080 Speaker 8: string of drone sightings in the area. It's the latest 137 00:07:17,080 --> 00:07:20,800 Speaker 8: mysterious drone over flights in the airspace of European Union 138 00:07:20,960 --> 00:07:25,840 Speaker 8: member countries. And Taylor Swift's twelfth studio album, The Life 139 00:07:25,840 --> 00:07:29,320 Speaker 8: of the Showgirl, is coming out today. She posted this 140 00:07:29,440 --> 00:07:30,240 Speaker 8: message on. 141 00:07:30,600 --> 00:07:32,080 Speaker 5: X Hey, it's Taylor. 142 00:07:32,360 --> 00:07:34,360 Speaker 1: Check out my new album The Life of a Showgirl 143 00:07:34,600 --> 00:07:37,480 Speaker 1: now on YouTube and YouTube music and baby, that's show 144 00:07:37,480 --> 00:07:38,120 Speaker 1: business for you. 145 00:07:38,320 --> 00:07:41,200 Speaker 8: Well. Swift is now worth two point one billion dollars. 146 00:07:41,280 --> 00:07:44,160 Speaker 8: That's up a billion dollars from two years ago when 147 00:07:44,160 --> 00:07:47,320 Speaker 8: the Bloomberg Billionaires Index first outed her as a member 148 00:07:47,360 --> 00:07:51,320 Speaker 8: of the Three Commas Club. Global news twenty four hours 149 00:07:51,320 --> 00:07:53,840 Speaker 8: a day and whenever you want it with Bloomberg News. Now, 150 00:07:53,880 --> 00:07:56,120 Speaker 8: I'm John Tucker. This is Bloomberg. 151 00:07:56,200 --> 00:08:00,360 Speaker 2: Karen Nanks sean time now for our Bloomberg Sports Update, 152 00:08:00,400 --> 00:08:02,320 Speaker 2: and for that we bring in John stash Hour. 153 00:08:02,560 --> 00:08:03,120 Speaker 5: Thanks Darren. 154 00:08:03,160 --> 00:08:06,200 Speaker 10: There were three decisive game threes the Baseball Wildcard Playoffs, 155 00:08:06,200 --> 00:08:08,360 Speaker 10: starting with Detroit six to three win at Cleveland. The 156 00:08:08,360 --> 00:08:11,240 Speaker 10: Tigers move on to place Seattle that comes beat San 157 00:08:11,240 --> 00:08:13,840 Speaker 10: Diego three to one. Next out for them as Milwaukee 158 00:08:14,080 --> 00:08:16,640 Speaker 10: and the Yankees will now play Toronto. They shut out 159 00:08:16,640 --> 00:08:19,200 Speaker 10: the Red Sox four and up. In rookie pitcher Cam 160 00:08:19,240 --> 00:08:21,680 Speaker 10: Schlitler went eight and is allowed no runs, struck out 161 00:08:21,680 --> 00:08:24,680 Speaker 10: twelve over time. In the NFC West, the forty nine 162 00:08:24,760 --> 00:08:27,720 Speaker 10: ers stopped the Rams on a fourth down int San 163 00:08:27,720 --> 00:08:31,440 Speaker 10: Francisco won twenty six, twenty three. That's your Bloomberg Sports Update. 164 00:08:32,920 --> 00:08:35,800 Speaker 2: Stay with us. More from Bloomberg day Break coming up 165 00:08:36,000 --> 00:08:36,560 Speaker 2: after this. 166 00:08:40,800 --> 00:08:44,840 Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 167 00:08:45,120 --> 00:08:47,960 Speaker 1: and around the world on Bloomberg dot Com and the 168 00:08:48,000 --> 00:08:51,040 Speaker 1: Bloomberg Business Oppum. This is Bloomberg Daybreak. 169 00:08:51,200 --> 00:08:53,640 Speaker 3: Good morning, I'm Nathan Hager. On day three of the 170 00:08:53,679 --> 00:08:57,680 Speaker 3: government shutdown in Washington, DC, both Republicans and Democrats appeared 171 00:08:57,760 --> 00:09:00,120 Speaker 3: dug in, and now the White House is warning the 172 00:09:00,160 --> 00:09:03,439 Speaker 3: first federal layoffs from the funding lamps could come as 173 00:09:03,440 --> 00:09:06,960 Speaker 3: soon as today. House Speaker Mike Johnson says, the Democrats 174 00:09:06,960 --> 00:09:09,440 Speaker 3: are in a needless fight with President Trump. 175 00:09:09,840 --> 00:09:13,800 Speaker 8: How important is it to appeal to the radical left 176 00:09:13,840 --> 00:09:16,200 Speaker 8: of your base and hurt Americans because if they drag 177 00:09:16,240 --> 00:09:18,400 Speaker 8: this on through the weekend, more and more people will 178 00:09:18,440 --> 00:09:18,800 Speaker 8: be hurt. 179 00:09:19,040 --> 00:09:21,920 Speaker 3: It's how Speaker Mike Johnson speaking on Capitol Hill this morning. 180 00:09:21,920 --> 00:09:26,080 Speaker 3: We are joined by Terry Haynes, the founder of Pangea Policy. Terry, 181 00:09:26,120 --> 00:09:30,360 Speaker 3: good morning, How deep could the pain go? How seriously 182 00:09:30,520 --> 00:09:32,640 Speaker 3: do you take this idea from the White House that 183 00:09:32,760 --> 00:09:35,600 Speaker 3: we could actually see layoffs come out of this shutdown? 184 00:09:36,679 --> 00:09:40,840 Speaker 11: Good morning, Nathan. I take very seriously the possibility that 185 00:09:41,760 --> 00:09:45,120 Speaker 11: what the White House might do is institute these kinds 186 00:09:45,120 --> 00:09:51,679 Speaker 11: of layoffs, riffs, furloughs, firings, you know, whatever they want 187 00:09:51,720 --> 00:09:55,079 Speaker 11: to call it, whatever they want to do. You know, frankly, 188 00:09:56,360 --> 00:09:58,800 Speaker 11: it's a signal from among other things, it's a signal 189 00:09:58,840 --> 00:10:01,000 Speaker 11: for travel or the direction of travel. Here you get 190 00:10:01,040 --> 00:10:04,480 Speaker 11: a situation where, uh, you know, I if this ramps 191 00:10:04,559 --> 00:10:07,360 Speaker 11: up in this particular way, among other things, Trump will 192 00:10:07,360 --> 00:10:10,360 Speaker 11: have much less ability or much less desire to want 193 00:10:10,400 --> 00:10:15,440 Speaker 11: to end the shutdown, because then Congress has a much 194 00:10:15,480 --> 00:10:19,880 Speaker 11: greater likelihood of being able to overturn those firings. 195 00:10:21,000 --> 00:10:25,479 Speaker 3: There's a question, isn't there about whether it's legal to 196 00:10:25,600 --> 00:10:30,760 Speaker 3: use a shutdown to conduct reductions in force. There are 197 00:10:31,120 --> 00:10:36,199 Speaker 3: federal government protections for jobs that would need to be 198 00:10:36,440 --> 00:10:37,480 Speaker 3: overturned in some way. 199 00:10:37,480 --> 00:10:40,680 Speaker 11: When they're oh yeah, absolutely, you know, I think the 200 00:10:40,720 --> 00:10:43,760 Speaker 11: administration wants kind of two practical fights. One wants to 201 00:10:43,760 --> 00:10:47,199 Speaker 11: be seen is going up against public unions, which the 202 00:10:47,760 --> 00:10:52,880 Speaker 11: which they think are are illegal and and a bad 203 00:10:52,920 --> 00:10:57,160 Speaker 11: thing anyway. Number one, anything that limits the executive's ability 204 00:10:57,200 --> 00:10:59,599 Speaker 11: to oversee the executive branch is a bad thing I 205 00:10:59,679 --> 00:11:04,640 Speaker 11: think that way. Secondly, back to my earlier point, it's that, 206 00:11:04,880 --> 00:11:08,280 Speaker 11: you know, once a shutdown is over, Congress has the 207 00:11:08,400 --> 00:11:11,960 Speaker 11: a great ability to actually remedy a lot of this 208 00:11:12,080 --> 00:11:17,079 Speaker 11: stuff through the annual appropriations bills, and of course Democrats 209 00:11:17,080 --> 00:11:19,440 Speaker 11: have a lot of leverage there, and they'll of course 210 00:11:19,600 --> 00:11:22,200 Speaker 11: want to take that leverage and do something with it 211 00:11:22,280 --> 00:11:24,520 Speaker 11: to reinstate a lot of those jobs. So, you know, 212 00:11:24,559 --> 00:11:28,839 Speaker 11: the gun that's being held, the metaphorical gun that's being 213 00:11:28,880 --> 00:11:31,480 Speaker 11: held to public employees heads, I think is quite real 214 00:11:31,520 --> 00:11:32,319 Speaker 11: and quite large. 215 00:11:32,840 --> 00:11:35,360 Speaker 3: That raises a question about, you know, whether some of 216 00:11:35,400 --> 00:11:39,680 Speaker 3: those jobs could be rescinded through recisions that the White 217 00:11:39,720 --> 00:11:42,679 Speaker 3: House Budget Director has carried out in the past. But 218 00:11:42,720 --> 00:11:46,000 Speaker 3: that's probably an argument for another day. In the meantime, 219 00:11:46,880 --> 00:11:49,520 Speaker 3: I think we're expecting another vote in the Senate on 220 00:11:49,880 --> 00:11:54,800 Speaker 3: the clean continuing resolution that Republicans have put out there. 221 00:11:54,840 --> 00:11:58,280 Speaker 3: What are we expecting when it comes to how this 222 00:11:59,160 --> 00:12:04,480 Speaker 3: fight over the spending bill that's on the floor will continue. 223 00:12:04,920 --> 00:12:07,440 Speaker 11: There's a lot of different trip wires that happened today. 224 00:12:07,960 --> 00:12:09,960 Speaker 11: I don't think anything gets resolved today. Let me just 225 00:12:09,960 --> 00:12:14,040 Speaker 11: say that first, but you'll have a Thune Johnson press 226 00:12:14,640 --> 00:12:17,840 Speaker 11: event at eleven o'clock. The Senate Democrats have a lunch 227 00:12:17,880 --> 00:12:22,120 Speaker 11: at noon. Thuon I think announced the Senate Today's Senate 228 00:12:22,200 --> 00:12:26,080 Speaker 11: vote at one thirty. And let's remember that's not just 229 00:12:26,200 --> 00:12:30,680 Speaker 11: on the temporary spending bills, but it's also on more 230 00:12:30,720 --> 00:12:34,559 Speaker 11: Trump nominees. So the signal that Schumer and Democrats give 231 00:12:34,600 --> 00:12:37,920 Speaker 11: on those nominees I think also plays into this a 232 00:12:37,960 --> 00:12:41,360 Speaker 11: little bit, since Republicans have been upset about what they 233 00:12:41,480 --> 00:12:46,560 Speaker 11: think of a Schumer obstructionism. There After that, I think 234 00:12:46,559 --> 00:12:50,360 Speaker 11: nothing probably happens differently, But the question will be whether 235 00:12:50,440 --> 00:12:53,720 Speaker 11: or not more Democrats peel off from the three that 236 00:12:53,800 --> 00:12:56,560 Speaker 11: already have, and I think the answer to that today 237 00:12:56,640 --> 00:12:59,040 Speaker 11: is no. But what I think happens is a lot 238 00:12:59,040 --> 00:13:02,520 Speaker 11: of pressure behind the scenes, to say, from particularly from 239 00:13:02,520 --> 00:13:05,280 Speaker 11: Maryland and Virginia senators, to say, look, you know, we 240 00:13:05,640 --> 00:13:08,920 Speaker 11: you know the the problem with the public employees is 241 00:13:08,960 --> 00:13:13,200 Speaker 11: so large that you know, we can't deal with us 242 00:13:13,240 --> 00:13:15,520 Speaker 11: that much longer. Why don't we just declare victory by 243 00:13:15,559 --> 00:13:19,480 Speaker 11: announcing negotiations with Republicans on this, on the healthcare matter, 244 00:13:19,800 --> 00:13:22,000 Speaker 11: and and be done with it for now? 245 00:13:22,040 --> 00:13:24,360 Speaker 3: Just thirty seconds left, Terry. But is there a risk 246 00:13:24,440 --> 00:13:27,760 Speaker 3: that Republicans go too far with this pressure campaign, this 247 00:13:27,920 --> 00:13:31,080 Speaker 3: idea of carrying out mass government layoffs. 248 00:13:31,520 --> 00:13:36,040 Speaker 11: Oh absolutely, yeah, you know, it's rebably. What's interesting about 249 00:13:36,040 --> 00:13:38,440 Speaker 11: this from a from a kind of a political tactical 250 00:13:38,480 --> 00:13:41,720 Speaker 11: perspective is Republicans have judged the moment very well. And 251 00:13:41,720 --> 00:13:43,480 Speaker 11: I'm not taking their side on any of this by 252 00:13:43,480 --> 00:13:45,559 Speaker 11: saying so, I'm just saying the judged it very well. 253 00:13:45,920 --> 00:13:49,400 Speaker 11: And uh, and you've got a situation where, uh, you 254 00:13:49,440 --> 00:13:51,960 Speaker 11: know where you know, but if they start pressing it 255 00:13:52,000 --> 00:13:54,920 Speaker 11: too much, and there's always a temptation for that, uh, 256 00:13:55,200 --> 00:13:58,000 Speaker 11: you know, they they risk making the problem worse. And 257 00:13:58,040 --> 00:14:00,920 Speaker 11: you know, for as I say, frankly, may the prospects 258 00:14:00,960 --> 00:14:04,240 Speaker 11: for a full year spending and you know, on things 259 00:14:04,320 --> 00:14:07,280 Speaker 11: like defense and other things that much more unattainable. 260 00:14:09,200 --> 00:14:12,120 Speaker 2: This is Bloomberg day Break, your morning podcast on the 261 00:14:12,200 --> 00:14:15,720 Speaker 2: stories making news from Wall Street to Washington and beyond. 262 00:14:15,960 --> 00:14:18,360 Speaker 3: Look for us on your podcast feed by six am 263 00:14:18,400 --> 00:14:21,840 Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen. 264 00:14:22,000 --> 00:14:24,880 Speaker 2: You can also listen live each morning starting at five 265 00:14:24,920 --> 00:14:27,520 Speaker 2: am Wall Street time on Bloomberg eleven three to zero 266 00:14:27,640 --> 00:14:30,520 Speaker 2: in New York. 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