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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today, Karen.

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Speaker 3: Election Night twenty twenty five is in the books from

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Speaker 3: coast to coast, and we begin this morning with results

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Speaker 3: from two key elections in the tri state area. Starting

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Speaker 3: in New York City, the Big Apple has a new mayor.

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Speaker 3: Bloomberg's Lisa Matteo joins us in Manhattan with more on

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Speaker 3: the historic win for Zorn Mumdani Lisa.

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Speaker 4: Nathan New York City residence. They really came out in force,

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Speaker 4: producing the highest turnout in more than half a century,

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Speaker 4: with more than two million votes counted, and in the

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Speaker 4: end it was Democratic Socialist Zoram Mundanmi who came out

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Speaker 4: on top, receiving fifty point four percent of the votes.

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Speaker 5: Tonight, you have delivered to fourteen.

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Speaker 6: New kind of politics for a city we can afford,

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Speaker 6: for a government that delivers exactly.

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Speaker 4: That, Immondami. He energized young voters with the campaign for

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Speaker 4: a more Affordable New York City. Former Governor Andrew Cuomo,

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Speaker 4: who ran as an independent after losing to Mandamie in

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Speaker 4: the primary, he garnered forty one point six percent, with

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Speaker 4: ninety eight percent of the votes counted. In his constant speech,

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Speaker 4: Well Cuomo said he is ready to help in any

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Speaker 4: way he can.

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Speaker 1: We will all help any way we can because we

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Speaker 1: need our New York City government to work.

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Speaker 5: We wanted to work.

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Speaker 6: For all New Yorkers because our city is the greatest

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Speaker 6: city in the world.

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Speaker 4: But Cuomo also said that the tally show almost half

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Speaker 4: of New Yorkers did not vote to support government agenda

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Speaker 4: that he said, quote makes promises that we know cannot

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Speaker 4: be met now Republican Courtiously, while he received seven point

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Speaker 4: one percent of the votes. When has sworn in on

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Speaker 4: January first as the one hundred and eleventh Mayor of

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Speaker 4: New York, The thirty four year old state lawmaker from

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Speaker 4: Queens will be the youngest person to hold the office

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Speaker 4: in a century. He'll also be the New York's first

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Speaker 4: Muslim mayor and first person of South Asian descent.

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Speaker 3: Nathan all Right, Lisa, Well, it was a big night

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Speaker 3: for Democrats as well in New Jersey, wasn't it.

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Speaker 7: Yeah?

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Speaker 5: Sure, Mikey Cheryl.

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Speaker 4: She has become the fifty seventh next governor of New

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Speaker 4: Jersey with fifty six point two percent of the votes,

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Speaker 4: defeating Republican Jack Chittarelli, who was actually backed by President

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Speaker 4: Donald Trump. It was Chittarelli's third bid for mayor. But

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Speaker 4: this is more than a local story. I mean, Cheryl's

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Speaker 4: win is drawing national attention as a potential preview for

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Speaker 4: what's to come in the twenty twenty six mid terms.

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Speaker 4: She touched upon it during her acceptance speech in East

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Speaker 4: Brunswick last night.

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Speaker 8: Here in New Jersey, we know that this station has

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Speaker 8: not ever been nor will it ever be, ruled by kings.

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Speaker 7: Cheryl.

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Speaker 4: She is a former federal prosecutor, Navy helicopter pilot. She

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Speaker 4: won the support of former President Barack Obama. She will

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Speaker 4: replace Democratic Governor Phil Murphy, who was back bar from

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Speaker 4: law by seeking a third consecutive term. Her victory actually

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Speaker 4: marks the first time in sixty years that one party

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Speaker 4: has won three consecutive gubernatorial elections in the Garden State.

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Speaker 4: Lisa Matteo Bloomberg Radio.

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Speaker 2: All right, Lisa, thank you. In another key race in

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Speaker 2: New Jersey, former Governor Jim McGreevy and James Solomon will

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Speaker 2: take part in a December runoff election in the race

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Speaker 2: for mayor of Jersey City with ninety two percent of

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Speaker 2: the vote. In Solomon received twenty nine percent, while McGreevy

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Speaker 2: got twenty five point four. They were the top two

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Speaker 2: vote getters in yesterday's nonpartisan election, but needed to get

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Speaker 2: to fifty percent a declare.

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Speaker 3: Victory well the Democratic victories, Karen continued. In Virginia, Abigail

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Speaker 3: Spanberger is the Commonwealth's next governor.

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Speaker 9: We sent a message to the whole world that in

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Speaker 9: twenty twenty five, Virginia chose pragmatism over partisanship.

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Speaker 3: Abigail Spanberger defeated Republican Winsome Earl Sears fifty two and

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Speaker 3: a half percent to forty two point three percent with

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Speaker 3: nearly all the votes counted to become Virginia's first female governor.

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Speaker 3: The former congresswoman and EXCIA officer ran on economic issues

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Speaker 3: and argued that President Trump's tariffs and government cuts have

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Speaker 3: added to uncertainty in the state.

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Speaker 5: We get more from Bloomberg's Joe Matthew.

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Speaker 10: You've got somebody here who's going to probably try to

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Speaker 10: be a check on the Trump administration, but also has

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Speaker 10: a real good messaging when it comes to not only

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Speaker 10: federal workers but the huge concentration of members of the

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Speaker 10: military in Virginia.

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Speaker 3: In Bloomberg's Joe Matthew notes about six percent of Virginia's

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Speaker 3: workforces in the federal government. In another closely watched race,

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Speaker 3: Democrat Jay Jones beat Republican incumbent Jason Miarez to become

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Speaker 3: Virginia's next attorney general. That was despite a texting scandal

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Speaker 3: in which Jones threatened to put quote two bullets in

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Speaker 3: the head of a political rival two years ago. Jones

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Speaker 3: received fIF fifty three point one percent of the vote

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Speaker 3: to forty six and a half percent for Mirs and

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Speaker 3: Boston Nathan.

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Speaker 2: Michelle Wu has won her second term as mayor. She

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Speaker 2: ran unopposed after winning big in the preliminary election over

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Speaker 2: Josh Craft, who then dropped out of the race in September.

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Speaker 2: Wu spoke to supporters after the polls closed.

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Speaker 11: Tonight and over the next four years, we will send

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Speaker 11: the same message we've sent since the day that Boston

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Speaker 11: was founded, that the fight for our freedom, for our families,

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Speaker 11: our friends, and the future we know to be possible

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Speaker 11: is always a fight worth fighting for.

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Speaker 2: Boston Mayor Michelle Wu is sixty five percent of precinct

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Speaker 2: supporting WU earned ninety two percent of the vote, eight

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Speaker 2: percent went to write in candidates.

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Speaker 3: And the other major race Karen that we were at

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Speaker 3: tracking was in California. Voters there passed Proposition fifty to

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Speaker 3: redraw the state's congressional map before the midterms. With seventy

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Speaker 3: one percent of votes counted, nearly sixty four percent of

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Speaker 3: California voters approved the ballot measure that could flip up

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Speaker 3: to five Republican held House seats to Democrats next year.

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Speaker 3: California Governor Gavin Newsom is calling on other states to

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Speaker 3: follow his lead.

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Speaker 12: We can de facto and Donald Trump's presidency as we

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Speaker 12: know it. The minute Speaker Jeffries gets sworn in as

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Speaker 12: Speaker of the House of Representatives, it is all on

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Speaker 12: the line.

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Speaker 3: California Governor Gavin Newsom pushed Prop fifty to counter a

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Speaker 3: move in Texas to flip up to five of that

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Speaker 3: state's House seats to the GOP.

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Speaker 2: Well In Colorado, Nathan voters opted to keep a ban

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Speaker 2: on flavored tobacco in place. Bloomberg Dan Schwartzman.

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Speaker 13: Reports Denver voters overwhelmingly voted to pass Resolution three ten,

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Speaker 13: which upheld the city's ban on selling flavored tobacco products.

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Speaker 13: Just last year, the Denver City Council passed an ordinance

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Speaker 13: to ban the products, but opponents filed the ballot initiative

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Speaker 13: to challenge it. The resolution became a national story as

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Speaker 13: the supporters of the band raise five point eight million dollars,

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Speaker 13: making the referendum one of the most expensive races in

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Speaker 13: the twenty twenty five election cycle. Dan Schwartzman, Bloomberg Radio.

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Speaker 2: All right, Dan, thank you, and we should note nearly

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Speaker 2: all the funding for the committee and support of the band,

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Speaker 2: Denver Kids Versus Big Tobacco, came from Michael Bloomberg, the

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Speaker 2: founder and majority owner of Bloomberg LP, the parent company

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Speaker 2: at Bloomberg Television and Radio.

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Speaker 5: Well careen.

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Speaker 3: Another major story we're following this morning is that deadly

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Speaker 3: plane crash in Kentucky. At least seven people were killed

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Speaker 3: nearly a dozen injured after a UPS cargo plane crashed

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Speaker 3: and exploded shortly after takeoff from Louisville.

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Speaker 5: Craig Greenberg is Louisville's mayor.

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Speaker 6: I'd like to send my prayers to the families.

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Speaker 5: Of the victims of this tragic crash.

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Speaker 3: The aircraft was at UPSMD eleven with three crew on board.

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Speaker 3: It just had taken off on a flight to Honolulu

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Speaker 3: when it crashed in an industrial area close to the airport.

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Speaker 2: Let's turn to Washington, Nathan, the government shutdown has reached

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Speaker 2: a new milestone. It is now the longest in US

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Speaker 2: history at day thirty six, and the standoff with Democrats continues.

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Speaker 2: For Senate Majority Leader John Thune, I.

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Speaker 14: Still don't know exactly what it is they want. We

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Speaker 14: have accommodated a lot of their questions and concerns. They

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Speaker 14: want to have a discussion about healthcare. We offered that

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Speaker 14: up a long time ago.

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Speaker 2: And Senate Majority Leader John Thune says he hopes this

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Speaker 2: will be the week they can negotiate an end to

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Speaker 2: the impass, but even if they do, they'll face another

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Speaker 2: funding fight. The stop gap spending bill the House passed

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Speaker 2: in September expires in a little more than two weeks. Meanwhile,

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Speaker 2: military pay and partially funded food eight are likely to

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Speaker 2: run out before the end of the month. The Congressional

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Speaker 2: Budget Office estimates the shutdown will cut fourth quarter GDP

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Speaker 2: by up to two percent if it continues for eight weeks.

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Speaker 3: In Washington as well, Karen the Supreme Court is set

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Speaker 3: to hear arguments about whether President Trump can use the

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Speaker 3: International Emergency Economic Powers Act to impose import taxes after

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Speaker 3: lower courts ruled he exceeded his authority. Bloomberg's Amy Morris

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Speaker 3: has more from Washington.

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Speaker 15: Earlier this week, on his way back to Washington, President Trump,

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Speaker 15: on board Air Force One, said he would not attend

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Speaker 15: the hearing, but called it an important decision.

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Speaker 12: I think it's the most important decision in the history

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Speaker 12: of our country. Without our being able to use tariffs

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Speaker 12: really would suffer tremendously from a national security standpoint.

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Speaker 15: There are other ways the president can impose tariffs, but

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Speaker 15: those come with more limits and procedural restrictions. And while

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Speaker 15: Trump's Supreme Court appointees have generally backed the president, this

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Speaker 15: case will be the first time the Court will directly

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Speaker 15: consider Trump's assertions of sweeping presidential power. In Washington, Amy

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Speaker 15: Moore as Bloomberg Radio.

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Speaker 2: All right, Amy, thank you. Let's turn to the markets now,

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Speaker 2: where futures are mostly lower Following yesterday's sell off on

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Speaker 2: Walls Street at Global Chip Route saw roughly five hundred

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Speaker 2: billion dollars erased and combined market capitalization from the Philadelphia

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Speaker 2: Semiconductor Index and a Bloomberg gauge tracking Asia chip stocks.

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Speaker 3: Well one chip stock under pressure this morning, Karen has

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Speaker 3: Advanced micro Devices. Those shares are down more than four percent.

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Speaker 3: The main contender to Nvidia in the artificial intelligence chip market,

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Speaker 3: failed to impress investors with its revenue forecast. AMD stock

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Speaker 3: had more than doubled this year heading into that earnings report.

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Speaker 2: Shares of super micro Devices. They are down more than

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Speaker 2: eight and a half percent this morning. The server maker

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Speaker 2: missed reduced estimates for first quarter sales and profit, and

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Speaker 2: also gave it disabrning earnings forecast to the current period,

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Speaker 2: reinforcing concerns about its ability to capitalize on demand for

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Speaker 2: AI equipment. Time now for a look at some of

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Speaker 2: the other stories making news in New York and around

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Speaker 2: the world. For that, we're dooined by Bloomberg's Monica Ricks.

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Speaker 7: Monica.

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Speaker 16: Good morning, Well, good morning, Karen, and we watched a

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Speaker 16: lot of other key races last night in several states.

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Speaker 5: Let's start in New York.

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Speaker 16: Voters weighed in on six proposals in New York City,

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Speaker 16: but the big ones were three housing proposals Props two

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Speaker 16: through four on the ballot The City Council had been

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Speaker 16: very vocal about them leading up to election day, arguing

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Speaker 16: that changes would weaken their control over neighborhood development, but

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Speaker 16: advocates say the measures were crucial for building more housing quickly,

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Speaker 16: and New Yorkers agreed, passing all three between fifty six

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Speaker 16: point eight and fifty eight point three in favor. New

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Speaker 16: Yorkers also voted in favor of Prop Five, which would

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Speaker 16: replace borough controlled paper maps with a unified digital map

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Speaker 16: of New York City. That one favor of seventy three

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Speaker 16: to twenty seven percent, and Prop six was voted down.

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Speaker 16: Voters did not want to hold local elections in years

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Speaker 16: when presidential elections were held. The No votes took it

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Speaker 16: with fifty three percent to forty seven. This would have

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Speaker 16: moved local elections from odd number years to even numbered

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Speaker 16: to increase voter turnout. New York State's ballot Proposal one

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Speaker 16: still tight. Eighty nine percent of the votes are in

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Speaker 16: so far, with fifty two percent of votes approving a

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Speaker 16: measure that would amend the state constitution to authorize an

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Speaker 16: expansion of the Olympic Sports Complex in Exus County that's

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Speaker 16: located within the state's Protected Force preserve. The special election

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Speaker 16: for New York's one hundred and fifteenth State Assembly district

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Speaker 16: that's still too close to call, even though Democrat Michael

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Speaker 16: Cashman has declared victory over Republican retired State Police major

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Speaker 16: and Troop Commander Bret Davidson. This district covers all of

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Speaker 16: Clinton County, Franklin County, and a few towns in Essex County.

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Speaker 16: The winner would replace Democrat Billy Jones, who stepped down

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Speaker 16: back in September after nearly a decade in office. So far,

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Speaker 16: Cashman's leading with fifty two percent of the vote. Democrats

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Speaker 16: also scored big in mayoral races around New York State.

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Speaker 16: Democrat Dorsey Appler's want an overwhelming majority to become the

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Speaker 16: first black mayor in Albany's history. Sharon Owens, also the

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Speaker 16: first black mayor in Syracuse. Now Sean Ryan won the

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Speaker 16: race for Buffalo's mayor, and Mayor Malik Evans won a

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Speaker 16: second term in a landslide in Rochester's mayoral race. Over

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Speaker 16: in New Jersey, all eighty seats in the state's General

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Speaker 16: Assembly were up for grabs, and Democrats had held a

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Speaker 16: fifty two to twenty eight majority in the Chamber.

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Speaker 5: Heading into Tuesdays electtion.

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Speaker 16: A few races still close to call this morning, but

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Speaker 16: it looks like Democrats will hang on to that majority.

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Speaker 16: The current total is forty nine to nineteen seats, and

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Speaker 16: Pennsylvania voters retained three state Supreme Court justices. They preserve

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Speaker 16: Democrats five to two majority. The incumbents they're surviving to

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Speaker 16: keep their seats. Global News twenty four hours a day

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Speaker 16: and whenever you want it with Bloomberg News Now. I'm

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Speaker 16: Monica Rix and this is Bloomberg.

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Speaker 5: Thanks Monica.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash Hour.

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Speaker 17: Thanks Daron. At the NFL trade deadline, that Jets traded

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Speaker 17: maybe their two best players, cornerback Sauce Gardner to Indianapolis

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Speaker 17: for two first round picks and defensive linemen Quinn and

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Speaker 17: Williams to Dallas for first and second round picks. The

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Speaker 17: college basketball season begins with Perdue rank number one. The

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Speaker 17: Boilermakers had an easy season opening win Duke be Texas

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Speaker 17: seventy five to sixty Oklahoma City Thunder defending NBA chams

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Speaker 17: and eight and oh. This year they meet the Clippers

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Speaker 17: in LA. That's a Bloomberg Sports Update.

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Speaker 5: Stay with us.

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Speaker 2: More from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius Exam,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app.

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Speaker 7: This is Bloomberg Daybreak.

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Speaker 2: And good morning. I'm Karen Moscow alongside Nathan Hager. And

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Speaker 2: Election night twenty twenty five is in the books and

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Speaker 2: it was a Democratic clean sweep in the major races

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Speaker 2: in New York, New Jersey, Virginia, and California. A great

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Speaker 2: night for self described democratic socialist mayor elect Zorn.

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Speaker 5: Mom Donnie, tonight you have delivered.

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Speaker 6: For change, for a new kind of politics, for a.

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Speaker 5: City wee can afford.

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Speaker 2: And again that is Zorn, Mom, Donnie in New York.

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Speaker 2: We're joined now by Bloomberg Daybreak editor Mark Perryer Mark,

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Speaker 2: good morning.

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Speaker 5: Let's start in New York.

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Speaker 2: I can't get past this, two million people coming out

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Speaker 2: to vote and us saying it's the highest turnout in

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Speaker 2: more than half a century. So a lot of people

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Speaker 2: came out to vote in this election. It was a

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Speaker 2: big deal. What did it for, Mom, Donnie?

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Speaker 18: Good morning? Definitely a resounding victory. New Yorkers waking up

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Speaker 18: to a different political landscape in the city. I think

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Speaker 18: the lore here was the cost of living. He definitely

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Speaker 18: appealed to a younger electorate, really hitting on wanting to

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Speaker 18: bring change to the city, and that definitely appealed to

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Speaker 18: the wider electorate.

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Speaker 7: In the city.

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Speaker 2: Affordability and change. Though those are big undertakings. Can he

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Speaker 2: do it?

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Speaker 7: Lots of challenges ahead.

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Speaker 18: His populist approach definitely will have a lot of challenges.

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Speaker 18: He's got to find the funding to cover these bold

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Speaker 18: plans of his and he cannot forget Wall Street.

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Speaker 7: I mean that's a fact.

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Speaker 18: I mean he's got to, in my opinion, reach out

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Speaker 18: to Wall Street and make it work. So interesting last night,

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Speaker 18: late last night that Bill Ackman reached out through Twitter

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Speaker 18: through x saying, you know, I'm here for you if

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Speaker 18: you need be very interesting. I think there's potential there

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Speaker 18: to work. But again, very strong populist message, but there

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Speaker 18: has to be coalition building here.

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Speaker 14: Yeah.

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Speaker 2: Well, there are also wins for the Democrats in New

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Speaker 2: Jersey and Virginia. We also saw that redition ting vote

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Speaker 2: in California that passed as well. Does this tell us

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Speaker 2: anything about the midterms coming up.

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Speaker 18: I think it does. I think we're seeing a platform

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Speaker 18: strategy forming within the Democratic Party that will hit on

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Speaker 18: the cost of living. That's certainly proved to be beneficial

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Speaker 18: to the Democrats in Virginia and New Jersey. So I

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Speaker 18: think we're going to see them hitting on that. But again,

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Speaker 18: within the Democratic Party, you have fraction and debate between

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Speaker 18: a younger, more progressive, you know, more progressive activists and

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Speaker 18: a more moderate wing. They need to work on that.

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Speaker 18: They need to be on the same page moving forward.

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Speaker 2: But when you look at the bigger picture, when you

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Speaker 2: talk about the same page moving forward, I mean, these

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Speaker 2: were not major battleground states. Obviously, New York isn't, New

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Speaker 2: Jersey isn't. California isn't. So is there really a bigger

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Speaker 2: takeaway from this or is this mostly what we could

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Speaker 2: have expected in terms of election victories.

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Speaker 7: It's what we were expecting.

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Speaker 18: But I think they needed to see The Democrats needed

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Speaker 18: to see positive headlines this morning, hitting every major newspaper

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Speaker 18: in the country, and that's what they've achieved. It's a

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Speaker 18: good look for them this morning after you know, suffering

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Speaker 18: a lot, you know, a major loss to Trump last year.

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Speaker 18: So I think it's all about re energizing the party

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Speaker 18: and then moving forward with bigger victories.

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Speaker 2: All Right, Bloomberg Daybreak editor Mark Perrier joining us this morning. Mark,

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Speaker 2: thank you, Nathan.

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Speaker 3: All Right, Karen, thank you for more analysis on election

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Speaker 3: night twenty twenty five. We are joined now by Terry Haynes,

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Speaker 3: the founder of Pangaea Policy. Terry, as we've been saying,

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Speaker 3: it was a democratic sweep in the states of New York,

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Speaker 3: New Jersey, Virginia, California. Is this a democratic springboard into

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Speaker 3: twenty twenty six?

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Speaker 5: Good morning, Good morning, Nathan.

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Speaker 19: Is it's a little bit of a moment of clarity

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Speaker 19: for Democrats, that's for sure. To add on to a

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Speaker 19: point that was just made earlier. Democrats winning races they

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Speaker 19: should win, as the bare minimum test Democrats passed last night,

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Speaker 19: but reviving Democrats nationally is going to take a lot

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Speaker 19: more than doing the minimum. And you've got two approaches here,

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Speaker 19: you know, you've got a kind of this jarring juxtaposition

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Speaker 19: between New Jersey and Virginia centrists who focus on, as

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Speaker 19: Governor elect Spenberger and Virginia said, pragmatism and problem solving,

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Speaker 19: versus Mamdani, who has taken this sort of pie in

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Speaker 19: the sky approach, emphasizing things that you know they by

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Speaker 19: and large you really can't deliver. So you know, Democrats

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Speaker 19: by and large have a choice here and on paths.

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Speaker 19: But that path is going to have to involve actually

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Speaker 19: solving problems rather than expressing solidarity with the problems themselves.

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Speaker 3: To that point, Terry, there was a focus from Mumdani

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Speaker 3: and the gubernatorial Are the governors elect now in New

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Speaker 3: Jersey and Virginia on economic issues, whether they expressed it

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Speaker 3: in different ways, does that point to a strategy for

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Speaker 3: Democrats in red states next year?

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Speaker 7: It does?

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Speaker 19: Yeah, absolutely, But the Democrats are going to have to

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Speaker 19: do more than than express solidarity with with the struggles

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Speaker 19: of people. Uh, They're going to have to not only

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Speaker 19: show how they're gonna how they're going to solve it,

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Speaker 19: but you know, you can look at the kind of

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Speaker 19: the Petri dishes of Virginia and New Jersey is offering

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Speaker 19: the first tests and whether those Democrats can be successful. Uh,

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Speaker 19: Mamdanie's got his own problem, and that problem, as I say,

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Speaker 19: is in part that his reach exceeds his grasp and

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Speaker 19: that he needs Albany to help. But he's also got

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Speaker 19: a choice. Does he become a builder and a change

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Speaker 19: agent to solve what he can and bring along with

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Speaker 19: him by doing the hard work of negotiating and persuading

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Speaker 19: with the rest of New York State Democrats, including the

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Speaker 19: national leader Schumer and Jeffries. Or does he become kind

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Speaker 19: of builde Blasio reducts and merely promise without delivering. And

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Speaker 19: that's the thing to watch in New York because if

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Speaker 19: that doesn't happen, with the kind of spotlight that mun

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Speaker 19: Donnie now has on him, if that doesn't happen, his

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Speaker 19: failures could actually redown to the benefits of Trump and

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Speaker 19: Republicans in the midterms.

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Speaker 3: Does Mayor Elect Mumdanni have a problem with President Trump

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Speaker 3: as well? We saw the President on truth Social last

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Speaker 3: night during Mumdanni's victory speech, saying, and so it begins,

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Speaker 3: He's threatened to cut off federal funding, He's threatened to

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Speaker 3: deport mayor like Mumdani.

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Speaker 5: What's in store for New York City?

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Speaker 19: Now, Mamdani should be careful what he wishes for, because, uh,

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Speaker 19: in this particular time of politics, both parties have shown

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Speaker 19: that they're entirely capable of using whatever levers are available

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Speaker 19: to them. So I would take as as serious Trump's

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Speaker 19: threat to limit or even eliminate, if possible, funding to

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Speaker 19: New York City. And you know, just by the same token,

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Speaker 19: you have a situation in Washington where National Democrats have

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Speaker 19: decided that it's worth keeping the government shut down and

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Speaker 19: UH and causing delays to all kinds of services, whether

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Speaker 19: it be SNAP, whether it be UH air traffic, whether

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Speaker 19: it even be the data that markets and the Fed

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Speaker 19: need in order to keep going uh, for the sake

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Speaker 19: of political gain. So there's a situation here where uh,

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Speaker 19: you know, the kind of the bare knuckleness of politics

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Speaker 19: is kind of reaching a new dimension here Ocarius.

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Speaker 3: So whether the election results these victories for Democrats could

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Speaker 3: lead to a shift in strategy from either of the

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Speaker 3: parties on the government shutdown.

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Speaker 19: Now, I told markets last night and I will tell

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Speaker 19: you this morning. I think there are two negatives and

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Speaker 19: a positive from from from the situation. The first negative

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Speaker 19: is shut down. Shutdown just got a lot more difficult

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Speaker 19: to solve at a time where it's effects you're finally

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Speaker 19: starting to bite. Democrats just got emboldened and got more

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Speaker 19: difficult convinced that they should compromise with the immovable object

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Speaker 19: bad Orange Man, and you've got this, you know, more

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Speaker 19: New York City centric. You've got these jitters about about

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Speaker 19: Mondani and what and what he might do and how

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Speaker 19: you might be able to work with him if you're

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Speaker 19: Wall Street. The markets positive is that it increases even

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Speaker 19: more Trump and Republicans urgency to put in places much

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Speaker 19: as possible of their markets friendly, economic and geopolitical agendas

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Speaker 19: in the next twelve months, so to the extent that

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Speaker 19: markets like economically what Trump and Republicans are trying to do,

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Speaker 19: which by and large they very much do. Expect more

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Speaker 19: of that and more quickly.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

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Speaker 2: It's the latest news whenever you want it in five

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Speaker 2: minutes or less. Search Bloomberg News Now on your favorite

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Speaker 2: podcast platform to stay inform all day long.

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Speaker 5: I'm Karen Moscow and I'm Nathan Hager.

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Speaker 3: Join us again tomorrow morning for all the news you

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Speaker 3: need to start your day right here on Bloomberg Day.

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Speaker 2: Ray