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Speaker 1: Mews when you want it with Bloomberg News Now, I'm

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Speaker 1: Brian Curtis in Hong Kong. Israel has sent troops and

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Speaker 1: tanks into northern Gaza in what Benjamin Netanyahu is calling

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Speaker 1: the second stage of the war against Tamas. Kirsten Fontenrose,

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Speaker 1: president of Red six Solutions, says the spread of the

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Speaker 1: war is likely, but escalation is a separate issue.

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Speaker 2: We're seeing activity by groups that are also backed by

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Speaker 2: Iran that constitute spread because they're happening on different fronts,

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Speaker 2: but that doesn't necessarily mean we're looking at escalation to

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Speaker 2: a wider war. What this does look like is that

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Speaker 2: these groups are trying to spread Israel thin to make

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Speaker 2: it easier for Hamas to fight them.

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Speaker 1: That's Kirsten Fontenrose, president of Red six Solutions. Egypt says

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Speaker 1: its natural gas imports have fallen to zero. Egypt imports

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Speaker 1: gas from Israel and some of the gas is converted

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Speaker 1: to LNG and then exported to Europe. Chevron operates the

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Speaker 1: Tomorrow Field and the Mediterranean off the Code host of Israel,

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Speaker 1: and last Monday, Israel ordered Chevron to shut down natural

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Speaker 1: gas production there. The shutdown might quash hopes of a

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Speaker 1: resumption of exports to Europe. Donald Trump has lost his

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Speaker 1: latest attempt to delay the partial gag order on him

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Speaker 1: in the January sixth trial. Bloomberg's Ed Baxter has the story.

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Speaker 3: The partial gag order bars him from publicly criticizing prosecutors,

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Speaker 3: potential witnesses, and court staff. US District Judge Tanya Chukin's

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Speaker 3: ruling will immediately go into effect unless a higher court intervenes.

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Speaker 3: Trump attorneys are expected to ask a federal appeals court

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Speaker 3: to immediately step in. The order was paused as a

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Speaker 3: judge allowed further arguments. Prosecutors argue for a tighter gag,

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Speaker 3: as they say a post regarding former Chief of Staff

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Speaker 3: Mark Meadows, who flipped last week, would have violated the

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Speaker 3: order if it were in effect ed. Baxter Bloomberg Radio.

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Speaker 1: The Fed's decision on Wednesday may take a back seat

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Speaker 1: to another potential market moving event, the Treasury and its

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Speaker 1: new borrowing plan. The Quarterly Refunding Announcement is due just

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Speaker 1: hours before the Fed decision. It will detail how the

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Speaker 1: Treasury intends to ramp up sales of longer term government debt.

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Speaker 1: Is Christopher Harvey from Wills Fargo.

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Speaker 4: If the Treasury announces and they don't need as much

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Speaker 4: paper as people suspect, or they come in line with expectations.

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Speaker 4: That's a good thing. If the FOMC plays ball and says, okay,

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Speaker 4: we're done, We're good here for now, that could stabilize

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Speaker 4: the markets.

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Speaker 1: Since Fitch downgraded the US sovereign rating in August, markets

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Speaker 1: have been paying more attention to the deteriorating US fiscal position.

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Speaker 1: Over the weekend, Stillantis reached a tentative deal with the

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Speaker 1: United Autoworkers. It includes twenty five percent hourly rais plus

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Speaker 1: cost of living allowances. It matches an agreement that the

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Speaker 1: UAW reached last week with Ford. In a video posted

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Speaker 1: on x, UAW president Sean Fein praised the deal with Stillantis.

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Speaker 5: Once again, we've achieved what just weeks ago we were

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Speaker 5: told was impossible. The power of the state and up

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Speaker 5: strike cannot be understated. Over the forty four days we

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Speaker 5: were on strike, Stillanus more than doubled the total value

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Speaker 5: of the proposals they had on the table.

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Speaker 1: The union said that on top of Stalantis's reopening of

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Speaker 1: the plant, the company would also add more than a

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Speaker 1: thousand jobs at a new battery plant in Illinois in Belvidere,

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Speaker 1: Stilantis is now negotiating to head off a strike at

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Speaker 1: its Canadian operations. That's news when you want it. With

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Speaker 1: Bloomberg News Now. I'm Brian Curtis. This is Bloomberg