Speaker 1: Live from the Bloomberg Interacted Berger Studios. This is Bloomberg,
Speaker 1: gave Break for a Thursday, August four, It's two coming up.
Speaker 1: The shower stocks entered the day near a two month high.
Speaker 1: The Bank of England forecast to raise rates by the
Speaker 1: most in more than a quarter of a century. The
Speaker 1: Senate overwhelmingly approached the addition of Finland and Sweden to NATO.
Speaker 1: Tesla holds a key shareholder meeting, and Walmart is the
Speaker 1: latest company to cut jobs. New York Mayor Adams freeze
Speaker 1: up a hundred million dollars for city schools. Plus the
Speaker 1: jury is deliberating the Alex Jones defamation case on Michael
Speaker 1: Bloomer or Ahead, I'm down stair, Shower and sports. Garrett
Speaker 1: Cole ropped up at the Yankee lost in Seattle. The
Speaker 1: Mets wan easily. They start a big series with it
Speaker 1: went tonight. That's all s tradyhead on Bloomberg, Daybreak on
Speaker 1: Bloomberg eleven, Free on New York, Bloomberg nine one, Washington
Speaker 1: d C Bloomberg one oh six one, Boston Bloomberg nine
Speaker 1: sixties and Francisco Sirius XAM one nineteen and around the world.
Speaker 1: Bloomberg Radio dot com and via the Bloomberg Business app.
Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow and
Speaker 1: US futures are higher this morning. We're coming up to
Speaker 1: six o one on Wall Street. Have we checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg
Speaker 1: right now, WESTNP futures they're up about seven points down,
Speaker 1: futures up thirty one, and NASDAG futures up twenty six.
Speaker 1: The decks in Germany is up one percent. Tend your
Speaker 1: treasury down six thirties seconds. You on two point seven
Speaker 1: two percent, and they yield on the two year three
Speaker 1: point oh nine percent. Nathan Karen the SNP interns today's
Speaker 1: session near a two month high. The tech heavy NASDAC
Speaker 1: one indexes at its highest levels since early May. Corporate
Speaker 1: earnings and healthy economic data are helping to lift sentiment.
Speaker 1: We get more from Northern Trust Bank Chief investment Officer
Speaker 1: Katie Nixon. I think we came into this really with
Speaker 1: with such low sentiment, with such a negative positioning, that
Speaker 1: we were due for a nice bounce like we've seen
Speaker 1: last week and sorted into this week. But is it
Speaker 1: sustainable in the phase of a FED that appears to
Speaker 1: be hell bent on not stopping not stopping. Katie Nixon
Speaker 1: the Northern Trust says the FED may have to reverse
Speaker 1: course sooner than expected. That's because she says inflation is slowing. Meantime,
Speaker 1: Nathan the FED continues to talk tough on inflation. Minneapolis
Speaker 1: Spent President Deal cash Curry is the latest to say
Speaker 1: it's the top priority. We are laser focused on getting
Speaker 1: inflation down and um, you know, whether we are technically
Speaker 1: in recession right now or not, it doesn't change my
Speaker 1: analysis and focus on inflation and where inflation is likely
Speaker 1: going and that is going to be. That to me
Speaker 1: is what we have. My opinion is what we have
Speaker 1: to focus on right now. Neil cash car Is has
Speaker 1: a FED rate cut next year is quote a very
Speaker 1: unlikely scenario. Well. Monetary policies also in focus overseas, Karen Is.
Speaker 1: The Bank of England gets set to hike interest rates.
Speaker 1: In just about one hour, we get a preview from
Speaker 1: Bloomberg's Lizzie Burden in London. I'm England rate rise today
Speaker 1: is all but a done deal. The debate surrounds whether
Speaker 1: the UK Central Bank will is Bloomberg Economics expect hike
Speaker 1: by a half point for the first time in its
Speaker 1: independent history. The decision comes against the backdrop of inflation
Speaker 1: that's not only it's a new forty year high, but
Speaker 1: headed toward double digits in the fall. Officials are also
Speaker 1: expected to provide more detail on active quantitative tightening. In London.
Speaker 1: I'm Lizzie Burden Bloomberg daybreak. All right, Lessie, thank you all.
Speaker 1: Turning to politics. Now, Finland and Sweden are getting a
Speaker 1: boost in their bid to join NATO. The US Senate
Speaker 1: has now ratified their membership and the alliance, and Bloomberg said,
Speaker 1: Bachelor has the story. The intention is to bolster NATO
Speaker 1: after the Russian invasion of Ukraine. The vote pretty amazing
Speaker 1: in a body that hasn't been able to agree on
Speaker 1: much of anything. The vote to one far exceeding the
Speaker 1: two thirds majority required. Now Finland will join Estonia, Latvia,
Speaker 1: Lithuania in Poland, as NATO country is a share a
Speaker 1: land border with Russia. Turkey has been on and off
Speaker 1: of the idea and could still try to block the move.
Speaker 1: Majority leader Chuck Schumer says Putin has strengthened NATO. In
Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak. All right, and thanks.
Speaker 1: Let's turn to corporate news now, where Tesla is in focus.
Speaker 1: The electric car maker holds its highly anticipated shareholder meeting today.
Speaker 1: We get a preview from Bloomberg's Tom Busby. The automaker
Speaker 1: calls it's annual shareholders meeting a cyber roundup, and this
Speaker 1: year the biggest item on the roundup agenda is the
Speaker 1: proposed three for one stock split, which would be the
Speaker 1: second one and as many years for Tesla after a
Speaker 1: five for one split in August of twenty Now. The
Speaker 1: idea is to make shares, which will begin the trading
Speaker 1: day just above nine twenty two dollars apiece, more affordable
Speaker 1: to small dollar retail investors and retail options traders, not
Speaker 1: just institutional investors. Tom Busby, Bloomberg Daybreak Rank Tom. Thank you.
Speaker 1: Elsewhere on Wall Street today, the wave of corporate downsizing continues.
Speaker 1: There's where now that Walmart is getting about two hundred
Speaker 1: corporate jobs, and get the details from Bloomberg's Charlie Pellett.
Speaker 1: The retail giant who is contending with rising costs, blow
Speaker 1: to inventories and weakening demand for general merchandise. Sources say
Speaker 1: the company will also be adding an unspecified number of
Speaker 1: jobs in areas such as e commerce, health and wellness,
Speaker 1: supply chain, and ad sales. Walmart is tightening its belt
Speaker 1: a week after slashing its annual profit forecast for the
Speaker 1: second time in less than three months. American consumers are
Speaker 1: buying less clothing and durable goods as storing inflation raises
Speaker 1: the cost of food and basic items in New York.
Speaker 1: Charlie Pellock, Bloomberg Daybreak, Thanks Charlie, coming up today. The
Speaker 1: earning spread continues fifty. Company's report, including Lift on the
Speaker 1: heels of ubers better than expected results, but Lift is
Speaker 1: not Uber. Bloomberg's Jeff Fellinger explains Lift executives may lower
Speaker 1: the company's full year guidance during their conference call Bloomberg Intelligence,
Speaker 1: as censor tower data indicate competition with Uber has been fear.
Speaker 1: Downloads of the Lift app decline year over year, and
Speaker 1: the increase in the number of monthly active users paled
Speaker 1: in comparison with Uber. B I speculates Lift may seek
Speaker 1: partnership similar to Amazon grub Hub to increase trip frequency.
Speaker 1: Jeff Bollinger, Bloomberg Daybreak, All Right, Jeff, Thank you. While
Speaker 1: we are seeing some stocks on the move this morning
Speaker 1: following earning, so we get the latest live with Bloomberg's
Speaker 1: John Tucker, John and Karen. Earnings from guidance from Chlorox
Speaker 1: fell well short of analysts estimates. Shares were down six
Speaker 1: percent after the company gave weaker than I expended guidance
Speaker 1: for fiscal year three. Shares of the mobile games company
Speaker 1: Skills tumbling at the pre market there down with eleven percent.
Speaker 1: They cut their full year guidance for revenue, and shares
Speaker 1: of Lucid sinking twelve percent after the luxury electric vehicles
Speaker 1: startup cut in half this year's production target. Lucid has
Speaker 1: been feeling with supply chain stags and resulting production hiccups
Speaker 1: Live of New York. I'm John Tucker, Bloomberg Daybreak. All right, John,
Speaker 1: Futures are getting some traction at the moment. S and
Speaker 1: P futures right now have ten points. Stout futures up
Speaker 1: forty seven. Nasdaq futures are gaining fifty points. The tenure
Speaker 1: treasury is down six thirty seconds. The yield two point
Speaker 1: seven to yield on the two year three point one
Speaker 1: zero straight ahead. Your latest local headlines in the check
Speaker 1: of Sports. This is Bloomberg. Sus SO seven on Wall
Speaker 1: Street were at seventy eight degrees in Central Park, getting
Speaker 1: ready for the heat advisory to kick in later this morning.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning, Nathan.
Speaker 1: China says it has conducted precision missile strikes and the
Speaker 1: Taiwan Straight as part of military exercises surrounding the island.
Speaker 1: China test fired eleven missiles into the seat. The drills
Speaker 1: were prompted by a visit to the island by House
Speaker 1: speaker Nancy Pelosi this week. Beijing earlier warned airlines to
Speaker 1: avoid danger zones around Taiwan. As you mentioned, Nathan, it's
Speaker 1: going to be a hot one in the New York area,
Speaker 1: Bloomberg needed religious. Rob Rreland has the latest. Good morning, Michael.
Speaker 1: The Bermiera High is going to set the Tri state
Speaker 1: area up for some warm weather over the course of
Speaker 1: the next several days. In fact that it's looking like
Speaker 1: the first half of August is going to be on
Speaker 1: the warm side. Today the city and the surrounding areas
Speaker 1: close to nine, but it feels more like a hundred
Speaker 1: with the committee, and that's why that heat advisories and
Speaker 1: effect when the nineties again tomorrow close to NIGHTTI, Saturday,
Speaker 1: and Sunday, Michael rob thanks. New York City Mayor Eric
Speaker 1: Adams pushed back against criticism that is continual focus on
Speaker 1: crime at press conferences is feeding into an overblown narrative
Speaker 1: that the city is unsafe. Incidents of violent crime remain
Speaker 1: at historic lows in the city, but seventy percent of
Speaker 1: New Yorkers said crime was a very serious problem in
Speaker 1: a February poll. Adams spoke to reporters yesterday. The numbers
Speaker 1: continue to twin in the wrong direction, continue to show
Speaker 1: that these repeated offenders are coming out. It would be
Speaker 1: irresponsible of me to ignore what is happening right now
Speaker 1: on our streets every day, every day was seeing this
Speaker 1: dangerous people repeatedly committed these actions. Meanwhile, Mayor Adams is
Speaker 1: freeing up one hundred million dollars in federal stimulus money
Speaker 1: for New York schools. It comes after an outcry among
Speaker 1: parents and some educators over the city's planned gout hundreds
Speaker 1: of millions of dollars in funding for schools in the
Speaker 1: current fiscal year. Conspiracy theorist Alex Jones says he was
Speaker 1: irresponsible to declare the Sandy Hook Elementary School massacre hoaxcent
Speaker 1: real as a sub regular stay and as I said
Speaker 1: here real Jerry in Austin, Texas began deliberating on how
Speaker 1: much the Info Wars host owes the parents of one
Speaker 1: of the children killed in the attack, and Newtown, Connecticut
Speaker 1: testimony wrapped up after a bombshell from the plaintiffs lawyer
Speaker 1: revealed that Jones's lawyers mistakenly handed over two years of
Speaker 1: text messages from Jones's phone. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Tank, powered
Speaker 1: by more than one hundred journalists and analyist and more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg.
Speaker 1: Thank you, Michael. It's almost six cent of all street
Speaker 1: time for the Bloomberg Sports update. Here's John Shower. All right.
Speaker 1: Nathan and Mets added some players before the trade deadline.
Speaker 1: Maybe not big names, although their new left handed hitting
Speaker 1: d h is certainly a big guy. Daniel Vogelback generously
Speaker 1: listed a two hundred and seventy pounds. He came up
Speaker 1: from the fifth in end and Washington two on the
Speaker 1: way from Williams and boge Back gets one of the
Speaker 1: area along the right field line back to where the
Speaker 1: cornerback goes. Colosio said, it's out of here a crans
Speaker 1: swam for Daniel foco Back. His first home was a
Speaker 1: met at his scores four and had to call on
Speaker 1: s n Y. Mets took a nine nothing lead to
Speaker 1: the ninth inning. Another new Mets reliever, Michael Gibbons, he
Speaker 1: made his Mets debut. It did not go well, got
Speaker 1: just two outs, gave up five runs, but the metstreet
Speaker 1: the Nationals nine to five. They've won eight of the
Speaker 1: last nine Atlanta loss, which means the Big Mets Braves
Speaker 1: five game series that begins Senetta City Field starts with
Speaker 1: the Mets three and a half games ahead. At the
Speaker 1: Stadium Seattle bet Yankee seven to three, did almost all
Speaker 1: the damage top of the first, sitting six runs on
Speaker 1: three Mariners home runs off Garrett Cole, the second time
Speaker 1: this season he has served up three homers in the
Speaker 1: first so Seattle just the fourth opposing team to win
Speaker 1: a series in the Bronx and what could hardly be
Speaker 1: called a surprise the NFL will appeal the ruling on
Speaker 1: the Deshaun Watson suspension for sexual misconduct. The independent arbitrator
Speaker 1: called for it to be six games, but the appeal process,
Speaker 1: as agreed to by both sides of the labor deal,
Speaker 1: calls for the Commissioner or at least somewhat designated by
Speaker 1: Roger Goodell, to be the one to rule on the appeal,
Speaker 1: So the NFL is appealing basically to themselves. They would
Speaker 1: then be allowed to make the suspension longer. The Players
Speaker 1: Association may then follow with a lawsuit. John Stashanward, Bloomberg Sports.
Speaker 1: Thank you, John. This red headline just across the Bloomberg terminal.
Speaker 1: Credit Swiss Group executives are reportedly discussing cutting thousands of
Speaker 1: jobs around the world as the struggling European lender tries
Speaker 1: to slash its overall cost base by an additional billion dollars.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather. Yeah,
Speaker 1: it's gonna be hot in mid nineties today and tomorrow.
Speaker 1: The heat advisory kicks into eleven a m. Last till
Speaker 1: eight pm Friday, will be back in the uper eighties
Speaker 1: by Saturday. Right now seventy eight in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business apt and at Bloomberg
Speaker 1: Quick Tape He's a Bloomberg Business lash and I'm Karen Moscow.
Speaker 1: And stocks are nudging higher as investors assess the corporate
Speaker 1: profit outlook well waiters on further Federal reserve interest rate
Speaker 1: hikes lift treasury yields. We checked the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg Guess and p
Speaker 1: future is up twelve points now, futures of seventy NASDAG
Speaker 1: futures up sixty the decks in Germany's at one point
Speaker 1: three and the tend your Treasury down six thirty second
Speaker 1: tield two point seven two percent yield on the two
Speaker 1: year three point one zero percent. Nine excrude oils up
Speaker 1: one point one percent or ninety eight cents and ninety
Speaker 1: one dollar sixty three cents of barrel called max Schold
Speaker 1: at one point one percent or eighteen dollars ninety cents.
Speaker 1: Sevnnounced the euro one pot one nine one against the dollar.
Speaker 1: British found one point one eight six c one thirty
Speaker 1: four point one four and bitcoin down one point seven
Speaker 1: percent at twenty two thousand, nine hundred twenty dollars, and
Speaker 1: Credit Swiss Group executives discussing cutting thousands of jobs globally.
Speaker 1: This is a struggling European lenders seeks to slash its
Speaker 1: overall cost base by an additional one billion dollars. And
Speaker 1: today we also are watching for the weekly report on
Speaker 1: initial jobless claims at an eight thirty Wall Street time,
Speaker 1: along with the trade balance. And that's a Bloomberg business flash.
Speaker 1: Now here Smuggle Barro with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Today
Speaker 1: China fired eleven missiles into the c surrounding Taiwan. It
Speaker 1: is in response to a visit by US how Speaker
Speaker 1: Nancy Pelosi to the island Beijing claims as its own
Speaker 1: in territory. The Senate ratified adding Sweden and Finland to NATO,
Speaker 1: a move intended to bolster the military alliance after Russia's
Speaker 1: invasion of Ukraine. Closing arguments in w n B A
Speaker 1: star Brittney Grinder's cannabis possession case in Russia are set
Speaker 1: for today. In baseball, the Mamaters beat the Yankees seven three,
Speaker 1: The Mats beat the Nationals nine five, The Red Sox
Speaker 1: and Giants lost the Orioles and A's one Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than journalist and analysts more than twenty countries.
Speaker 1: Michael barn this is Bloomberg, Bloomberg Opinion, informed perspectives and
Speaker 1: expert data driven commentary on breaking news, life and the
Speaker 1: Bloomberg Interacted Blocus Studios. This is Bloomberg Daybreak. We are
Speaker 1: coming up to six twenty on Wall Street and Bloomberg Opinion.
Speaker 1: Calumnist Marcus Ashworth joins us ahead of the Bank of
Speaker 1: England decision, now just about forty minutes away. Marcus, I
Speaker 1: love of the headline on your piece ahead of this
Speaker 1: policy meeting. The Bank of England needs a big bac
Speaker 1: and fries. Do you think policymakers have gotten the message
Speaker 1: from the rising fast food menu? Marcus? It never accused
Speaker 1: me of click baker, but I mean the point is
Speaker 1: is that they've upped the price of a burger here
Speaker 1: or cheeseburger by and though inflation will probably drop back
Speaker 1: a bit next year or whatever, the chances of a
Speaker 1: burger going back to below a pound, it's never gonna happen.
Speaker 1: We've that's gone forever, and that's the point that inflation
Speaker 1: is embedding and expectations are rising um just as time
Speaker 1: goes by and the feet through and energy prices comes
Speaker 1: into things like food and then obviously wages. So yes,
Speaker 1: the Bank of Things should raise fifty basis points. They
Speaker 1: would be very surprised if it doesn't, but I have
Speaker 1: some very good excuses if and that would be very
Speaker 1: worried because it would have to be predicated on some
Speaker 1: very poor forward economic forecast, which I don't think will happen.
Speaker 1: But that's why I think fifties pretty much now on
Speaker 1: and it will be good to see them. This would
Speaker 1: be the biggest move they've done for twenty seven years,
Speaker 1: but obviously follows the more aggressive even FED and even
Speaker 1: though surprisingly aggressive European Central Bank just a week or
Speaker 1: so ago. So it's it's the finowing in line with
Speaker 1: everyone else. Does the BOE stick with a fifty basis
Speaker 1: points going forward or is this just the one and done?
Speaker 1: Do you think I think it's well, it's a one
Speaker 1: and go down back to the normal twenty five. I
Speaker 1: think we'll probably get two or three more of them
Speaker 1: the rest of this year, get over two percent, maybe
Speaker 1: two and a quarter somewhere around there, and then probably pause.
Speaker 1: They're also starting quantitative tightening. We think we'll get some
Speaker 1: details on that today and the final decision we men
Speaker 1: in September, but it will be a gradual one. But
Speaker 1: they're gonna you know, I think the fifty base point
Speaker 1: needs to be done um now, but I think they'll
Speaker 1: probably hold back and do twenty fives now. And the
Speaker 1: only riter to that if we do get a very
Speaker 1: aggressive fiscal passage package for the next Conservative five minister,
Speaker 1: then maybe they feel they need to counter right that
Speaker 1: and there might be another fifty. But it's yeah, we
Speaker 1: think we're gonna get to about two and a quarter
Speaker 1: two and a half terminal rates um, so midway between
Speaker 1: what the FED and and and the u CV are
Speaker 1: going to do. It's tighter policy going to be enough
Speaker 1: to reign in the kind of inflation we are seeing
Speaker 1: in the UK where you're dealing with a cost of
Speaker 1: living crisis, and of course there's probably a lot of
Speaker 1: the same dynamics that continental Europe is dealing with with
Speaker 1: the war in Ukraine affecting energy prices. Well, we're caught
Speaker 1: in the trap between the pressures of Europe and then
Speaker 1: then the pressures similar as the US has on a
Speaker 1: very tight labor market. So it makes a little bit
Speaker 1: something a little bit more cute. But the good news
Speaker 1: about the UK economy, very much like the U S economy,
Speaker 1: has got very strong banking system, big savings in both
Speaker 1: household and corporates, and that very low unemployment is you know,
Speaker 1: is a good place to start a down to and from,
Speaker 1: if you know what I mean in the sense, I
Speaker 1: don't think it would be a very deep or nasty procession.
Speaker 1: If even there is one, I think will bumble along
Speaker 1: around zero growth for for the next courses. An inflation
Speaker 1: will come down almost of its own accord, and I
Speaker 1: don't think there's much the bank and you can do
Speaker 1: about it. They've got to act to try and come
Speaker 1: some of those inflactional explanations feems of labor uh, you know,
Speaker 1: wage rises. But the reality is this is external influences
Speaker 1: energy and they've got very little control over it. How
Speaker 1: much of an external influences politics here is there are
Speaker 1: a feeling that the VOE needs to get aggressive now
Speaker 1: before there's the leadership change in September. No ish, I mean,
Speaker 1: obviously I don't think they can act on that in
Speaker 1: the sense that they really can't. All their economic forecasts,
Speaker 1: of course, all rubbish because they're all going to be
Speaker 1: changed when the government does do another big fiscal stimulus.
Speaker 1: So a lot of these economic forecasts you're seen out
Speaker 1: on the UK at the moments are just simply wrong,
Speaker 1: and then everyone knows they're wrong because you can't plug
Speaker 1: in something you don't know which is going to happen
Speaker 1: very soon and another big fiscal stimulus. Nonetheless, I think
Speaker 1: the Bank of England will you know, if it comes
Speaker 1: between doing zero or twenty five or whatever it may
Speaker 1: be in the future, and they think the fiscals can
Speaker 1: sisto strong, they're gonna courtion. The good mute is the
Speaker 1: government has saved them to be blamed for recession by
Speaker 1: stepping in on the fiscal side, which means the Manet
Speaker 1: you can get on and do what it should be doing,
Speaker 1: which is on monegy policy, which is calming inflation. They
Speaker 1: should have done an age ago, but at least they're
Speaker 1: getting on that now and they will get on with it.
Speaker 1: One way or the other in about thirty six minutes
Speaker 1: when we get that decision from the b O E.
Speaker 1: Marcus Ashworth, Bloomberg Opinion columnist, thanks for being with us
Speaker 1: ahead of that decision. Get more Bloomberg Opinion Bloomberg dot
Speaker 1: Com Slash Opinion O P I N go on the
Speaker 1: Bloomberg terminal, where you can get even more great headlines
Speaker 1: about Big Max and fries. SFP futures up thirteen points,
Speaker 1: staff futures up seventy two, NASTAC futures up sixty two points.
Speaker 1: So adding to games as we get closer to the
Speaker 1: market open on Wall Street. Ten year treasuries down five
Speaker 1: thirty seconds, the yield two point seven to per cent,
Speaker 1: just ahead the Feds still talking tough on inflation and credit.
Speaker 1: Sweez looking at it's sweeping, John Cuts. Five things you
Speaker 1: need to know to start your day. Coming up on
Speaker 1: Bloomberg day Break Bloomberg eleven three oh Weather heat Advisory
Speaker 1: kicks in at eleven am last till eight p m
Speaker 1: Friday today tomorrow. In your ninety five degrees will be
Speaker 1: in the oper eighties by Saturday. Right now, seventy eight
Speaker 1: in Central Park, broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York, Bloomberg E living three on to Washington,
Speaker 1: d C, Bloomberg on to Boston, Bloomberg one O six
Speaker 1: one to San Francisco, Bloomberg nine sixty to the Country,
Speaker 1: Sirius XM Chandel one nine tea and around the globe
Speaker 1: the Bloomberg Business and Bloomberg Radio dot com. This is
Speaker 1: Bloomberg Day Break six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. He are just
Speaker 1: about three hours away from the open of US trading
Speaker 1: time for the five things you need to notice start
Speaker 1: your day. Brought to you by Interactive Brokers. Interactive Brokers
Speaker 1: charges Martin loan rates from two point eight three percent
Speaker 1: to three point eight three percent. Their clients can also
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Speaker 1: k R dot com. Slash compair first. The S and
Speaker 1: P five hundred enters this session near a two month high.
Speaker 1: The tech heavy Nasdaq one hundred indexes at its highest
Speaker 1: level since early May. Corporate earnings and healthy economic data
Speaker 1: has helped to lift sentiment, but Alifa Doria Walla, managing
Speaker 1: director at Rock Creek, says she's still proceeding with caution.
Speaker 1: There could be another severe downturn, another leg to go
Speaker 1: in the S and P, and a lot of that
Speaker 1: is some of the big tech companies that could continue
Speaker 1: to get hard because of the strong dollar and what
Speaker 1: will happen to earnings in the coming orders if that
Speaker 1: strong dollar remains. Rock creates Alifa Dora Walla says the
Speaker 1: recent pivotento tech might be short lived. I meantime, Karen
Speaker 1: Feed officials keep talking tough on inflation. Minneapolis President Neil
Speaker 1: cash Cary says the Federal Reserve will keep doing everything
Speaker 1: in its power to cool inflation. Some financial markets are
Speaker 1: indicating that they expect US to cut interest rates next year. Uh.
Speaker 1: I don't want to say it's impossible, but it seems
Speaker 1: like that's a very unlikely scenario right now, given what
Speaker 1: I know about the underlying inflation dynamics. And more likely
Speaker 1: scenario is we would continue raising and then we would
Speaker 1: sit there. In Minneapolis, FED President Neil cash car says
Speaker 1: whether the US is technically in recession right now or
Speaker 1: not does not change his analysis. Well, monetary policy is
Speaker 1: in focus. Overseas, Nathan, the Bank of England gets set
Speaker 1: a high interest rates shortly and could raise rates at
Speaker 1: half a point well, saying. In Europe, Karrent executives from
Speaker 1: Swiss Bank Credit Suite are thinking of reducing thousands of
Speaker 1: roles globally. At least they're talking about it as the
Speaker 1: struggling European lender seeks to slash its overall cost based
Speaker 1: by another billion dollars. Meanwhile, Nathan, the world's largest retailer
Speaker 1: is announcing job cuts. More in this live report from
Speaker 1: Bloomberg's John Tucker John, Good Morning, Darren. Walmart eliminating about
Speaker 1: two hundred corporate jobs. Sources tell Bloomberg that counts includes
Speaker 1: staffers and last mild delivery and merchant does, and more
Speaker 1: cuts maybe on the way in areas such as e commerce.
Speaker 1: The build tightening comes a week after slashing its annual
Speaker 1: profit forecast for the second time in less than three months.
Speaker 1: Walmart has had to cut prices on general merchandise as
Speaker 1: their customers pulled back on spending. Live to New York,
Speaker 1: I'm John Tucker, Bloomberg Day Break. Thank you, John, and
Speaker 1: more corporate news here in the State's Tesla holds its
Speaker 1: annual shareholder meeting today. And that's the five things that
Speaker 1: you need to notice start your day. Brought to you
Speaker 1: by Interactive Brokers. Again, futures are higher this morning, and
Speaker 1: straight ahead your latest local headlines, plus a check of sports.
Speaker 1: This is Bloomberg. Thanks Ter sixe on Wall Street. Seventy
Speaker 1: seven degrees in Central Park. Still got that crash he's
Speaker 1: found Cross Bronx and Jerome Avenue. More coming up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. Today China fired eleven missiles into the sea
Speaker 1: around Taiwan. The drills were prompted by a visit to
Speaker 1: the island by All Speaker Nancy Pelosi. This week, speculation
Speaker 1: and rises about China's threat to attack the self governing
Speaker 1: island Republic. A heat advisory is an effect for the
Speaker 1: tri state area because of dangerously hot and human conditions.
Speaker 1: Today's high in New York will be around ninety four degrees.
Speaker 1: New York City Mayor Eric Adams says he's freeing up
Speaker 1: a hundred million dollars in federal stimulus money for New
Speaker 1: York City schools. It comes after an outcry among parents
Speaker 1: and some educators over the city's planned on hundreds of
Speaker 1: millions of dollars in funding for schools in the current
Speaker 1: fiscal year. The Atoms administration's reverse hole on school funding
Speaker 1: comes a day before a hearing planned and the lawsuit
Speaker 1: filed by parents and teachers in an effort to stop
Speaker 1: the budget cuts. Meanwhile, Mayor Adams pushed back against criticism
Speaker 1: that is continual focus on crime at press conferences since
Speaker 1: taking office is feeding into an overblown narrative that the
Speaker 1: city is unsafe. This conversation is about a small number
Speaker 1: of dangerous people who are repeated recidivist who have made
Speaker 1: up their minds that we could do whatever we want
Speaker 1: in this city and nothing is going to happen to us.
Speaker 1: Adams says, the real issue is how much coverage of
Speaker 1: crime there is by the media. Conspiracy theorist Alex Jones
Speaker 1: now concedes the massacre at Sandy Hook Elementary School in
Speaker 1: was reel. A jury is now deliberating Jones's punishment in
Speaker 1: a defamation case. The parents of a six year old
Speaker 1: victim of the shooting successfully suthed the info Wars host
Speaker 1: proclaiming the shooting was a hoax. During testimony, while Jones
Speaker 1: was on the stand, there was a startling revelation from
Speaker 1: the lawyer of the parents, Mark Bankston, accused Jones of
Speaker 1: lying and trying to hide evidence, including text messages and
Speaker 1: emails about Sandy Hook. Two days your attorney's messed up
Speaker 1: and sitting an entire digital coining of your entire cell
Speaker 1: phone with every text message you've sent for the past
Speaker 1: two years, and when informed, did not take any steps
Speaker 1: to identify it as privilege or protected in any way,
Speaker 1: And as of two days ago, it felt free and
Speaker 1: clear in the mike possession. And that is how I
Speaker 1: know you'd lied to me when you said you didn't
Speaker 1: have text message about Samu Okan. Did you know that
Speaker 1: I see? I told you the truth? This is your
Speaker 1: Perrymason moment. Erney. Mark Bankston says Jones made the lives
Speaker 1: of the parents a living hell. New Jersey Restaurants received
Speaker 1: a two year extension to continue operating outdoors. Governor Phil
Speaker 1: Murphy says it's a pandemic precaution that remains necessary to
Speaker 1: boost small businesses. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundred journalists and analysts are more than
Speaker 1: a hundred twenty countries. Michael Barr and this is Bloomberg, Nathan, Michael,
Speaker 1: thank you. Six thirty six on Wall Street. John Sanshower
Speaker 1: has the Bloomberg Sports Update. All right, Nathan Garrett Cole
Speaker 1: is the Yankees as when the playoffs begin. Hill undoubtedly
Speaker 1: beyond the mound. He's at an all star season, but
Speaker 1: he's had a few clunkers. There's some fear of Yankee fans.
Speaker 1: What if that happened to the postseason? That was that
Speaker 1: night in June and Minnesota went for the first time
Speaker 1: in Cole's career. He gave up three home runs in
Speaker 1: the first day, three in a row. First inning yesterday
Speaker 1: at the stadium, a three run homer by Eugenio Suarez,
Speaker 1: a solo shot for Carlos Santanna, and a two run
Speaker 1: blast by the Mariners Jared Klenny. That's the former Mets
Speaker 1: farm hand that he one thirty three. Cole did settle
Speaker 1: down after that, but Seattle won the game seven to three,
Speaker 1: and Cole was asked about that first inning. Have a
Speaker 1: pretty vivid recollection. I think it's sometimes easier to remember
Speaker 1: about stuff, um, Carol. But there were some bad pitch selections.
Speaker 1: There were some bad pitches, um, and uh, you know
Speaker 1: we got punished for it again. Louis Castillo got the
Speaker 1: win in his Mariner's debut. He also beat the Yankees
Speaker 1: in the Bronx in the game just a few weeks
Speaker 1: ago while he was with the Reds. He just got treated.
Speaker 1: The Yankees had only five hits there off tonight. They
Speaker 1: are in St. Louis tomorrow. The Mets tonight host Atlanta.
Speaker 1: It's the start of a huge five game weekend series
Speaker 1: in City Field to play a doubleheader on Saturday, and
Speaker 1: if either team should win three or four of the five,
Speaker 1: that's a three game swing. Met's currently three and a
Speaker 1: half games ahead of the Braves. They wanted Washington nine
Speaker 1: to five. Daniel vogel Backs first mat homer was a
Speaker 1: Grand Slam. The game was nine nothing for the next
Speaker 1: Nap scored five. The ninth NFL just hit. The Dolphins
Speaker 1: took the way their first round draft pick next year
Speaker 1: for tampering while trying to acquire Tom Brady, and the
Speaker 1: tampering began not when Brady was with Tampa Bay. It
Speaker 1: goes back to two thousand, nineteen, while Brady was still
Speaker 1: with the Patriots. Bill Belichick asked about that yesterday, declined
Speaker 1: to comment. Phil Mickelson, one of eleven golfers, joined the
Speaker 1: new Live Tour, now suing the p g A for
Speaker 1: an I trust violations. John Stash were Bloomberg Sports All right, John,
Speaker 1: thank you to six thirty eight on Wall Street Time
Speaker 1: to take a look at stocks, some of the names
Speaker 1: moving in the pre market. Bloomberg's Laura Right joins us
Speaker 1: Live ahead of the market open, watching Credit sweez shares.
Speaker 1: Laura after news of the latest cost cutting plan that
Speaker 1: the bank's at least considering. Yeah, and the market likes
Speaker 1: what it had. Credits Sweet up around two and a
Speaker 1: half percent in the pre marketed US listed depository that
Speaker 1: is now The bank announced the appointment of a new
Speaker 1: CEO last week. Or Kerner asked the stock fell six
Speaker 1: Under his predecessor, Thomas Scott, the bank has been tied
Speaker 1: to numerous scandals over the last eighteen months, raising the
Speaker 1: question of poor risk management. Now there's a bloom Bug
Speaker 1: scoop out this morning that credit spreets are discussing an
Speaker 1: aggressive plan to reduce their head count globally. I was
Speaker 1: actually in the room with Mannis Cranny last week for
Speaker 1: the earnings interview in Zurich when the chairman revealed the
Speaker 1: launch of a so called strategic review, which man Is
Speaker 1: presciently called a way for people to strategically evaluate their careers. Yeah,
Speaker 1: some more strategic evaluation going on this morning. Apparently we
Speaker 1: also got earnings this morning from Eli Lilly and they
Speaker 1: came in a little disappointing, Yes, a little disappointing, and
Speaker 1: ahead of the bell, the stock is down at six percent.
Speaker 1: This is a far smceutical company with a market cap
Speaker 1: of almost three hundred billion dollars. It was a miss
Speaker 1: on revenue for the second quarter, but importantly, the guidance
Speaker 1: for full year adjusted ets was revised downward to arrange
Speaker 1: of seven dollars ninety cents to eight dollars and five
Speaker 1: cents from a previous range that was around eight dollars
Speaker 1: and fifteen cents to cents. And just quickly, Laura, what
Speaker 1: other stocks you're watching this morning. I'm looking at Lucid,
Speaker 1: the electric vehicle maker. It's down twelve percent ahead of
Speaker 1: the open. Now. Lucid lowered their production target to six
Speaker 1: to seven thousand cars, down from a previous goal of
Speaker 1: between twelve and fourteen thousand cars. This is all because
Speaker 1: of supply chain congestion that can't get the parts they need.
Speaker 1: But at least it's not a demand issue, all right,
Speaker 1: Bloomberg's law right with us this morning ahead of the
Speaker 1: pre market. We also got earnings just crossing the Bloomberg
Speaker 1: terminal from Ali Baba, a big beat on first quarter revenue.
Speaker 1: Ali Baba A d r s are higher by seven
Speaker 1: percent on that earning speed. Right now, SMP futures are
Speaker 1: up sixteen points, Dow futures up ninety four, NASTACK futures
Speaker 1: higher by eighty three points ten, Your treasuries down seven
Speaker 1: thirty seconds, the yield two point seven. This is Bloomberg,
Speaker 1: Bloomberg eleven three oh, whether we're going up to your
Speaker 1: nine five on a hot and humid Thursday. Heat advisory
Speaker 1: kicks in eleven this morning, last till eight tomorrow night.
Speaker 1: Right now seventy eight in Central Park. Yeah, and I'm
Speaker 1: Karen Moscow. And futures this morning are on the rise
Speaker 1: this morning, with SNP futures up about thirteen points, to
Speaker 1: DAL futures up sixty seven, and nasday future is of
Speaker 1: sixty eight, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg. The decks in Germany
Speaker 1: is of one and a quarter percent this morning ten.
Speaker 1: Your treasury down seven thirty seconds, you know, two point
Speaker 1: seven three percent. They yield on the two year three
Speaker 1: point one zero percent. Nimex screwed oil is of eight
Speaker 1: tens of a percent or seventy nine cents and ninety
Speaker 1: one dollar forty five cents in barrel. Comex gold up
Speaker 1: one point two percent or twenty one dollar sixty cents
Speaker 1: is seventeen announced. The euro one point one five against
Speaker 1: the dollar, British found one point to one nine three
Speaker 1: and the end this morning four point one seven. Watching
Speaker 1: bitcoin it's down two point one percent. It's a two
Speaker 1: eight hundred fifty dollars. That's a Bloomberg business flash. Now
Speaker 1: here's Micho Barr with more on what's going on around
Speaker 1: the world. Michael Hearin, thank you very much. How speaking,
Speaker 1: Nancy Pelosi met with the South Korean counterparts and sold
Speaker 1: to reissure strong alliance between the two countries. It comes
Speaker 1: as China conducted military exercises around Taiwan in response to
Speaker 1: Pelosi's visit flags are at half staff at the US
Speaker 1: Capitol after an Indiana congresswoman was killed in a car crash.
Speaker 1: Republican Jackie Larski, who was fifty eight, died in the
Speaker 1: accident in northern Indiana along with two of her staffers.
Speaker 1: In baseball, the Mariners beat the Yankees seven three, the
Speaker 1: Mets beat the Nationals nine five, The Red Sox and
Speaker 1: Giants lost the Orioles and A's one Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalist and analysts
Speaker 1: more than a hundred twenty countries. Michael Barr and this
Speaker 1: is Bloomberg. Karen, all right, thanks Michael at a Sight
Speaker 1: on Wall Street and we turned to news and science
Speaker 1: and technology now with the Bloomberg and j I T.
Speaker 1: STEM Report. It is brought to you by New Jersey
Speaker 1: Institute of Technology, ranked top fifty national public university by
Speaker 1: US News and World Report, and at top ten in
Speaker 1: the nation for engineering by Money dot Com. Learn more
Speaker 1: at n j I T dot E d U And
Speaker 1: here's just making news in science, technology, engineering, and math.
Speaker 1: Bloomberg News has learned that Apple expects to delay it's
Speaker 1: next major iPad software update by about a month. For
Speaker 1: the last several years, the tech giant has released major
Speaker 1: iPad and iPhone software updates at the same time in September.
Speaker 1: This time around, sources say Apple plans to put out
Speaker 1: its iOS sixteen during the usual period, but not launch
Speaker 1: iPad O S sixteen until October. The delay of the
Speaker 1: software is due at least in part to an ambitious
Speaker 1: effort to overhaul the iPads multitasking capabilities. A Sunday conductor
Speaker 1: shortage that has slammed the auto industry dented production at
Speaker 1: Japan's top automaker, Toyota's profit fell nearly eighteen percent in
Speaker 1: the April June quarter from the year before. Toyota officials
Speaker 1: apologized to customers who have been waiting for their cars
Speaker 1: after putting in their orders. Some have waited so long
Speaker 1: the vehicle went through a model change in the meantime,
Speaker 1: and the Transportation Department is proposing to require airlines to
Speaker 1: offer passengers a refund if their flight schedule is changed
Speaker 1: significantly or the airline makes major changes to their itinerary.
Speaker 1: The proposed rule would require airlines to give a refund
Speaker 1: sit their departure or arrival time changes by three hours
Speaker 1: or more for a domestic flight or at least six
Speaker 1: hours for an international one, and as a Bloomberg and
Speaker 1: j I t Stem report. Nathan Okay, Karen, thank you.
Speaker 1: We're live from the Bloomberg Interactive Broker Studios or at
Speaker 1: six fifty on Wall Street. Good morning on Nathan Hagar.
Speaker 1: Time now to check what's going on in DC. Some
Speaker 1: of the top stories in our nation's capital include the
Speaker 1: White House lobbying Democrats against a bid too deep en
Speaker 1: ties to Taiwan as China begins live fire drills around
Speaker 1: the island, the Senate ratifying NATO membership for Finland and Sweden,
Speaker 1: Senator Cinema looking for tax changes in the Democrats Tax
Speaker 1: and Energy bill. And Washington Morning, a congresswoman from Indiana
Speaker 1: killed in a car crash. Let's bring Breck Bloomberg Government
Speaker 1: Congressional reporter Jack Fitzpatrick for more on all these stories.
Speaker 1: As we continue to monitor the tensions in the Taiwan
Speaker 1: straight and around Taiwan more generally, Jack, what is the
Speaker 1: reaction in Washington as Speaker Pelosi's Asian trip continues and
Speaker 1: China keeps up these live fire drills. Well, there's a
Speaker 1: bit of a divide in Washington. You know, they generally
Speaker 1: UH somewhat of a hawkish stance on China tends to
Speaker 1: get bipartisan support lately, but there has been a divide
Speaker 1: between Pelosi and the Biden administration. President Biden mentioning that
Speaker 1: the military had had concerns about this trip in the
Speaker 1: first place. Uh, they have. The White House has lobbied against,
Speaker 1: at least at this point, a bill that would formalize, uh,
Speaker 1: the US's relationship with Taiwan. Taiwan in formalized Taiwan standing
Speaker 1: as a non NATO ally. That wouldn't really change the
Speaker 1: relationship between these two countries. But there seems to be
Speaker 1: a bit of a timing issue and a concern about
Speaker 1: how much the US's actions are rankling the Chinese government.
Speaker 1: H So, the the White House has is pushed back
Speaker 1: to bill UH that has been delayed. They're supposed to
Speaker 1: be a committee vote yesterday. UH So it's clearly there's
Speaker 1: some concern about exactly how the Chinese government is going
Speaker 1: to react to UH Speaker Pelosi's trip, and and and
Speaker 1: the White House in particular wants to move carefully in
Speaker 1: terms of not prodding them more than is necessary right now, now,
Speaker 1: we've heard from the Chinese Foreign Ministry going so far
Speaker 1: as to say Speaker Pelosi's trip was a violation of
Speaker 1: the One China policy. But if we do see this
Speaker 1: bill deepening Taiwan ties move forward, Jack, what did it
Speaker 1: really be a change in the U S stance towards Taiwan. No,
Speaker 1: that's the thing. This would formalize essentially what has been
Speaker 1: the US relationship with Taiwan for decades. But that gets
Speaker 1: at the difficult position that Democrats, especially right now, find
Speaker 1: themselves in, with Speaker Pelosi wanting to take a stand,
Speaker 1: make a statement visit Taiwan, the Biden administration having concerns
Speaker 1: about that, and then questioning, uh, what kind of message
Speaker 1: they sent to the Chinese government. So it doesn't seem
Speaker 1: to necessarily be entirely focused on the substance of the
Speaker 1: bill as much as the public message and the signal
Speaker 1: it sends to China. At this time, in the context
Speaker 1: of Pelosi's visit, it looks like a message is being
Speaker 1: sent now to Russia. Jack. With the Senate overwhelmingly ratifying
Speaker 1: Finland and Sweden joining NATO, Yes, an overwhelming vote really
Speaker 1: yesterday to one. Uh. That makes the US the twenty
Speaker 1: third country to take a vote to ratify that step,
Speaker 1: leaving seven left. So they're moving forward on that uh
Speaker 1: to one again. Josh Holly, the Republican from Missouri, was
Speaker 1: the only one against it. Ran Paul voted present. UH.
Speaker 1: So a really overwhelming vote yesterday and yes, very much
Speaker 1: in the context of sending a message message to Russia.
Speaker 1: Uh And I think there's some maybe motivation to show
Speaker 1: that this is happening because of Russia and Russia's concern
Speaker 1: about NATO, or at least they're alleged concern about NATO
Speaker 1: and that being an issue involved in their invasion of Ukraine.
Speaker 1: I think you see many Americans, Republicans and Democrats in
Speaker 1: Congress wanting to push back and say that Russia's actions
Speaker 1: have actually led themselves to an expansion of NATO and
Speaker 1: nothing else. A rare moment of near unanimity in the Senate.
Speaker 1: We don't see that too often, and we're not seeing
Speaker 1: it really when it comes to this Democratic tax and
Speaker 1: spending bill, the Inflation Reduction Act. We're getting a little
Speaker 1: bit better sense of where Senator Cinema may come down
Speaker 1: on it. Yeah, We've known she had concerns about this
Speaker 1: measure to close or narrow the carried interest loophole that
Speaker 1: would effectively raise taxes on on fund managers that have
Speaker 1: been paying them as carried interest rather than income. We
Speaker 1: knew that was going to be an issue. It doesn't
Speaker 1: raise a massive amount of revenue in the context of
Speaker 1: this bill. Uh. If it were had, if it had
Speaker 1: to be dropped, it wouldn't necessarily be the breaking points.
Speaker 1: So Cinema is pushing back on that. She evidently does
Speaker 1: have some concerns about the bigger revenue raiser in this
Speaker 1: the percent corporate minimum rate. Uh. Not necessarily the fundamental
Speaker 1: idea of it, but there's an ongoing conversation about exactly
Speaker 1: who it applies to if there are exceptions to that
Speaker 1: depending on some tax right offs. Uh. So Cinema has
Speaker 1: become the big X factor here with Senator Joe Mansion
Speaker 1: obviously announcing this deal. Uh. And yes, speaking of unity,
Speaker 1: this is something where there's not going to be Republican support.
Speaker 1: So in order to get this through the process, they're
Speaker 1: taking this bill through that needs a simple majority. They
Speaker 1: need fifty out of fifty Senate Democrats to all uh.
Speaker 1: Circle the wagons and essentially anybody could have veto power
Speaker 1: on the Democratic side. And right now the the eyes
Speaker 1: of all turned two. Senator Cinema and finally Jack, in
Speaker 1: our last minute, here's some sad news suddenly with the
Speaker 1: death of a Congressman from Indiana. Yes, Jackie will will
Speaker 1: Or Sky from Indiana, the Republican member of the House
Speaker 1: died in a car crash, as well as two of
Speaker 1: her staffers, Emma Thompson and Zachary Potts, who are on
Speaker 1: the road with her. The sheriff's office there said that
Speaker 1: another car on the highway went over the middle line
Speaker 1: and went directly into them. Very sad, very sudden. A
Speaker 1: lot of feedback from members of the House on on
Speaker 1: both sides of the aisle talking about a Congresswoman will
Speaker 1: Or Sky being someone they really liked and liked to
Speaker 1: work with. So a bit of a shocking moment yesterday
Speaker 1: when that happened. Alright, Bloomberg Government reporter Jack Fitzpatrick, as always,
Speaker 1: thank you Jack for the update from the nation's capital.
Speaker 1: Re more about all these stories of Bloomberg dot com
Speaker 1: or on the Bloomberg terminal, and a reminder you can
Speaker 1: follow all the latest on Bloomberg Radio in Washington, Bloomberg
Speaker 1: and one oh five point seven FM, HD two SMP
Speaker 1: futures gaining ground this morning, now a ten points staff
Speaker 1: futures of fifty three. Nasdaq futures leading the games now
Speaker 1: up sixty four points for a gain of a half percent,
Speaker 1: following the tech led rally yesterday. Ten Your treasuries down
Speaker 1: seven thirty seconds, the yield two point seven three percent
Speaker 1: yield on the two year three point one one percent.
Speaker 1: Attention turns to London now, with the Bank of England
Speaker 1: due to make a decision in two minutes, we'll have
Speaker 1: it for you in Bloomberg surveillance. Next to Tom Keene,
Speaker 1: Jonathan Faroh, and Lisa abramowits for Karen Moscow. I'm Nathan Hagar.
Speaker 1: This is Bloomberg