1
00:00:02,480 --> 00:00:03,040
Speaker 1: Good morning.

2
00:00:03,080 --> 00:00:05,920
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

3
00:00:05,960 --> 00:00:07,440
Speaker 2: stories we're following today.

4
00:00:08,880 --> 00:00:12,080
Speaker 1: The powerful storm off Florida's Gulf Coast has our attention

5
00:00:12,360 --> 00:00:15,480
Speaker 1: this morning. It is prompting a red headline just crossing

6
00:00:15,520 --> 00:00:20,240
Speaker 1: the Bloomberg Terminal. Hurricane Edalia has been upgraded to category

7
00:00:20,320 --> 00:00:23,200
Speaker 1: four strength. That is, according to the National Hurricane Center,

8
00:00:23,560 --> 00:00:26,720
Speaker 1: top wins one hundred and thirty miles an hour, and

9
00:00:26,840 --> 00:00:29,920
Speaker 1: Dahlia is expected to make landfall later this morning. Florida

10
00:00:29,960 --> 00:00:32,960
Speaker 1: Governor Ronda Santis is warning golf residents.

11
00:00:32,960 --> 00:00:35,080
Speaker 3: This is a crunch time right now.

12
00:00:35,600 --> 00:00:37,520
Speaker 4: We're going to get hit with the major hurricane.

13
00:00:37,640 --> 00:00:41,639
Speaker 1: And Bloomberg Meteorologist Rob Carolyn is monitoring this storm for us.

14
00:00:41,640 --> 00:00:44,360
Speaker 3: What is the latest, Rob, Nathan and Kareny.

15
00:00:44,440 --> 00:00:47,000
Speaker 5: Dahlia continues to strengthen as it tracks towards the Big

16
00:00:47,000 --> 00:00:49,159
Speaker 5: Bend area of Florida. It looks like it'll make landfall

17
00:00:49,240 --> 00:00:53,159
Speaker 5: later this morning, somewhere between Appalachicola and cedar Key. The

18
00:00:53,200 --> 00:00:56,120
Speaker 5: good news is this area is not very heavily populated.

19
00:00:56,160 --> 00:00:58,320
Speaker 5: The bad news is it's kind of shallow, so the

20
00:00:58,360 --> 00:01:00,760
Speaker 5: storm surge is going to cause some signifying damage. And

21
00:01:00,800 --> 00:01:02,840
Speaker 5: that storm surge is going to be ten to fifteen feet.

22
00:01:03,200 --> 00:01:05,400
Speaker 5: We also have tornado watches up along the path of

23
00:01:05,440 --> 00:01:08,720
Speaker 5: the storm that'll continue throughout the day up into North Florida,

24
00:01:08,760 --> 00:01:11,680
Speaker 5: eventually South Georgia. It looks like we're going to see

25
00:01:11,680 --> 00:01:14,160
Speaker 5: a pote storm system this morning. It won't really start

26
00:01:14,200 --> 00:01:16,200
Speaker 5: to weaken a whole lot until lead to this afternoon.

27
00:01:16,360 --> 00:01:19,080
Speaker 1: So what can we expect from the storm once that happens, Rob, Well.

28
00:01:19,000 --> 00:01:21,040
Speaker 5: We'll see a switch from the problems with the storm

29
00:01:21,040 --> 00:01:23,520
Speaker 5: Serve this morning on high winds to heavy rainfall lead

30
00:01:23,520 --> 00:01:25,280
Speaker 5: to the saft noon as the storm works its way

31
00:01:25,319 --> 00:01:28,240
Speaker 5: up towards South Georgia and eventually into the eastern Carolinas.

32
00:01:28,640 --> 00:01:31,039
Speaker 5: Those areas are more at risk for heavy rain, though

33
00:01:31,080 --> 00:01:34,240
Speaker 5: there will be some gusty winds, particularly along the Carolina coast.

34
00:01:34,440 --> 00:01:37,040
Speaker 5: Once the storm system moves off shore tomorrow, We'll be

35
00:01:37,120 --> 00:01:38,880
Speaker 5: keeping on whether or not it tracks out to sea

36
00:01:39,160 --> 00:01:41,039
Speaker 5: or tries to move towards the south and east.

37
00:01:41,040 --> 00:01:43,680
Speaker 1: All right, Bloomberg Meteorologists Rob Carolin, and we'll be checking

38
00:01:43,720 --> 00:01:46,600
Speaker 1: back with you on hurricane and daily. Yet throughout the morning.

39
00:01:46,720 --> 00:01:49,200
Speaker 2: Well, it looks like the hurricane could have a financial

40
00:01:49,240 --> 00:01:51,480
Speaker 2: impact on one of the world's richest people. And we

41
00:01:51,520 --> 00:01:55,160
Speaker 2: get this story from Bloomberg's John Tucker, John and Karen Warren.

42
00:01:55,160 --> 00:01:58,240
Speaker 6: Buffett's Berkshire Hathaway earlier this year made a bath at

43
00:01:58,280 --> 00:02:02,840
Speaker 6: Florida's reinsurance market would deliver huge premiums with minimal losses.

44
00:02:03,280 --> 00:02:06,280
Speaker 6: The firms exposed to as much as fifteen billion dollars

45
00:02:06,280 --> 00:02:09,480
Speaker 6: of losses in the event of a major storm. Auji Jane,

46
00:02:09,480 --> 00:02:12,600
Speaker 6: the vice chair of insurance operations, said at Berkshire's investor

47
00:02:12,639 --> 00:02:16,400
Speaker 6: event in May that they had a very unbalanced portfolio.

48
00:02:16,720 --> 00:02:18,679
Speaker 6: What that means, he said at the time, if there's

49
00:02:18,680 --> 00:02:22,160
Speaker 6: a big hurricane in Florida, we will have various substantial losses.

50
00:02:22,560 --> 00:02:26,240
Speaker 6: Hurricane Adeli is about to test Buffett's bet, with months

51
00:02:26,280 --> 00:02:30,000
Speaker 6: of potential storms still left this season. I'm John Tucker,

52
00:02:30,000 --> 00:02:30,880
Speaker 6: Bloomberg Daybreak.

53
00:02:31,000 --> 00:02:33,920
Speaker 1: All right, John, thank you. Turning to markets now, stocks

54
00:02:33,919 --> 00:02:36,920
Speaker 1: are coming off their biggest gains since June, while bond

55
00:02:36,960 --> 00:02:40,960
Speaker 1: yields retreat. It's after the latest economic reports bolstered speculation

56
00:02:41,080 --> 00:02:44,160
Speaker 1: the FED is nearing an end to raising rates. Today,

57
00:02:44,280 --> 00:02:47,200
Speaker 1: the Fed and investors will have more data to digest,

58
00:02:47,240 --> 00:02:51,240
Speaker 1: including second quarter gross domestic product. Bloomberg's Vinians del Judice

59
00:02:51,280 --> 00:02:52,080
Speaker 1: reports and.

60
00:02:52,160 --> 00:02:55,200
Speaker 7: It's initial estimate. The government peg US economic growth at

61
00:02:55,240 --> 00:02:58,160
Speaker 7: a healthy two point four percent, up from last year's

62
00:02:58,160 --> 00:03:02,120
Speaker 7: first quarter pace. Bloomberg Canomic says the economy's momentum carried

63
00:03:02,200 --> 00:03:05,440
Speaker 7: into the third quarter. However, high interest rates could cause

64
00:03:05,480 --> 00:03:08,680
Speaker 7: the US to falter late this year. Bloomberg Economics as

65
00:03:08,720 --> 00:03:11,320
Speaker 7: a recession could be in the cards. Also today, in

66
00:03:11,360 --> 00:03:14,519
Speaker 7: the US Payroll Process or ADP issues data on August

67
00:03:14,600 --> 00:03:18,000
Speaker 7: business hiring, while the National Association of Fieldtur's reports on

68
00:03:18,080 --> 00:03:21,600
Speaker 7: July penning home sales. There's trade data too for July.

69
00:03:22,120 --> 00:03:23,919
Speaker 7: Finny Dell Judais Bloomberg day.

70
00:03:23,760 --> 00:03:26,400
Speaker 2: Break, Finny, thanks well. There's plenty of economic data out

71
00:03:26,400 --> 00:03:28,919
Speaker 2: of Europe this morning. The Consumer Price Index and a

72
00:03:29,000 --> 00:03:32,880
Speaker 2: key part of Germany, indicates that country's overall inflation is

73
00:03:32,919 --> 00:03:37,080
Speaker 2: accelerating and inflation quickened again in Spain. Consumer prices there

74
00:03:37,320 --> 00:03:39,960
Speaker 2: rose two point four percent in August from a year earlier.

75
00:03:40,080 --> 00:03:42,520
Speaker 3: That's up from two point one percent the prior month.

76
00:03:42,760 --> 00:03:45,280
Speaker 1: On the earnings front, Karen shares of HP are down

77
00:03:45,440 --> 00:03:47,240
Speaker 1: nearly nine percent in early trading.

78
00:03:47,280 --> 00:03:48,480
Speaker 3: The companies reducing its.

79
00:03:48,320 --> 00:03:51,000
Speaker 1: Full year cash flow and profit outlook. HP says a

80
00:03:51,000 --> 00:03:53,560
Speaker 1: rebound in the market for personal computers will take longer

81
00:03:53,600 --> 00:03:55,960
Speaker 1: than expected. We hear from another major player in the

82
00:03:55,960 --> 00:03:59,400
Speaker 1: tech space later today, Salesforce reports earnings after the closing bell,

83
00:04:00,120 --> 00:04:00,440
Speaker 1: and we're.

84
00:04:00,320 --> 00:04:03,280
Speaker 2: Also following the crypto space this morning. This after Grayscale,

85
00:04:03,320 --> 00:04:05,400
Speaker 2: when a key cored battle it's pushed to launch a

86
00:04:05,400 --> 00:04:08,480
Speaker 2: bitcoin exchange traded fund. The victory brings to the crypto

87
00:04:08,520 --> 00:04:12,400
Speaker 2: industry closer to tapping billions of dollars from everyday investors.

88
00:04:12,400 --> 00:04:15,000
Speaker 2: In Bloomberg'skaylee Lines breaks down what it all means for

89
00:04:15,040 --> 00:04:15,560
Speaker 2: the sector.

90
00:04:15,840 --> 00:04:19,560
Speaker 8: Grayscale has moved closer to launching a spot based bitcoin

91
00:04:19,680 --> 00:04:22,480
Speaker 8: ETF in the US and what is potentially a watershed

92
00:04:22,520 --> 00:04:26,799
Speaker 8: moment for the crypto industry, a DC Circuit court handing

93
00:04:26,800 --> 00:04:30,520
Speaker 8: them a victory when a three judge appellate panel overturned

94
00:04:30,560 --> 00:04:33,720
Speaker 8: a decision by the SEC to block the ETF. They

95
00:04:33,760 --> 00:04:36,000
Speaker 8: said in the ruling this is a quote. The denial

96
00:04:36,000 --> 00:04:39,600
Speaker 8: of Greyscale's proposal was arbitrary and capricious because the Commission

97
00:04:39,680 --> 00:04:43,360
Speaker 8: failed to explain its different treatment of similar products. In

98
00:04:43,400 --> 00:04:46,880
Speaker 8: the absence of a coherent explanation, This unlike regulatory treatment

99
00:04:46,880 --> 00:04:50,599
Speaker 8: of products is unlawful. Basically, they're poking a hole in

100
00:04:50,600 --> 00:04:54,520
Speaker 8: the SEC's argument that a futures bitcoin ETF, which already

101
00:04:54,520 --> 00:04:57,240
Speaker 8: has been approved in the US, should be treated differently

102
00:04:57,320 --> 00:04:59,040
Speaker 8: than a spot based product.

103
00:04:59,200 --> 00:05:03,120
Speaker 2: Bloomberg Canlee Sis Knows Grayscale Investments Bitcoin trust search seventeen percent.

104
00:05:03,240 --> 00:05:05,920
Speaker 1: Yesterday, and Apple said its biggest product event of the year.

105
00:05:05,960 --> 00:05:07,400
Speaker 1: Here's Bloomberg's Charlie Pellett.

106
00:05:07,720 --> 00:05:11,560
Speaker 9: The date is September twelfth, and Apple will unveil the

107
00:05:11,760 --> 00:05:17,679
Speaker 9: iPhone fifteen line and next generation smartwatches. The company announced

108
00:05:17,720 --> 00:05:20,919
Speaker 9: the plans on its website and via email under the

109
00:05:20,960 --> 00:05:25,719
Speaker 9: tagline Wonderlust. The presentation will be streamed online at ten

110
00:05:25,760 --> 00:05:29,560
Speaker 9: am Pacific, with an accompanying event at Apple's Steve Jobs

111
00:05:29,640 --> 00:05:33,760
Speaker 9: Theater in Koopertino. Apple is under more pressure than usual

112
00:05:33,839 --> 00:05:37,240
Speaker 9: with this iPhone launch. Its sales of slip for three

113
00:05:37,279 --> 00:05:40,599
Speaker 9: straight quarters as the company contends with shaky demand for

114
00:05:40,680 --> 00:05:45,800
Speaker 9: smartphones and other devices in New York. Charlie Pellett Bloomberg Daybreak.

115
00:05:49,240 --> 00:05:51,000
Speaker 2: All right, Charlie, thanks time now for a look at

116
00:05:51,040 --> 00:05:53,120
Speaker 2: some of the other stories making news around the world.

117
00:05:53,120 --> 00:05:56,200
Speaker 2: For that, we're joined by Bloomberg's Amy Morris Amy, good morning.

118
00:05:56,279 --> 00:06:00,000
Speaker 10: Good morning, Karen. President Biden's administration is criticizing New York

119
00:06:00,040 --> 00:06:02,560
Speaker 10: York City and the state for how they've handled the

120
00:06:02,600 --> 00:06:07,200
Speaker 10: migrant crisis. Homeland Security Secretary Alejandro new Yorkist wrote letters

121
00:06:07,240 --> 00:06:10,880
Speaker 10: to Mayor Eric Adams and Governor Kathy Hochel pointing out

122
00:06:10,960 --> 00:06:15,360
Speaker 10: structural and operational issues following an assessment of the program. Now,

123
00:06:15,400 --> 00:06:18,200
Speaker 10: Mayor Adams and Governor Hokel appear to be placing the

124
00:06:18,200 --> 00:06:22,320
Speaker 10: blame on each other. Adams to HOCl to task publicly

125
00:06:22,440 --> 00:06:25,040
Speaker 10: during his talk at NYU Law School just yesterday.

126
00:06:25,080 --> 00:06:29,920
Speaker 7: Governor Hockle has been a partner on subway safety, on crime,

127
00:06:30,440 --> 00:06:31,680
Speaker 7: on a host of things.

128
00:06:31,960 --> 00:06:34,559
Speaker 3: But I think this issue, I think the governor is wrong.

129
00:06:34,920 --> 00:06:38,520
Speaker 11: Every county in this state should be part of.

130
00:06:38,480 --> 00:06:41,400
Speaker 10: This local rejected that request last week, noting a nineteen

131
00:06:41,440 --> 00:06:43,799
Speaker 10: eighty one agreement between the city and a homeless group

132
00:06:44,040 --> 00:06:46,840
Speaker 10: that the city would provide shelter to anyone who needs it,

133
00:06:47,040 --> 00:06:49,280
Speaker 10: but she says that only applies to New York City

134
00:06:49,320 --> 00:06:51,919
Speaker 10: and not the other counties in the state. A newly

135
00:06:51,960 --> 00:06:55,200
Speaker 10: filed lawsuit is asking a judge to deem former President

136
00:06:55,279 --> 00:06:58,159
Speaker 10: Donald Trump ineligible for the twenty twenty four ballot in

137
00:06:58,200 --> 00:07:01,479
Speaker 10: New Hampshire, The Boston Global Sports The lawsuit filed by

138
00:07:01,600 --> 00:07:05,720
Speaker 10: Republican John Anthony Castro of Texas argues that Trump is

139
00:07:05,800 --> 00:07:09,800
Speaker 10: ineligible to hold public office because he quote provided aid

140
00:07:09,920 --> 00:07:13,360
Speaker 10: or comfort to the insurrectionists from the January sixth attack

141
00:07:13,400 --> 00:07:16,680
Speaker 10: on the Capitol. Castro also filed a federal lawsuit in

142
00:07:16,680 --> 00:07:20,080
Speaker 10: Florida back in January seeking to have Trump disqualified, but

143
00:07:20,120 --> 00:07:23,480
Speaker 10: that lawsuit was dismissed. A powerful member of Congress has

144
00:07:23,520 --> 00:07:26,960
Speaker 10: announced a tough fight for his health. President Biden has

145
00:07:27,040 --> 00:07:30,200
Speaker 10: called Representative Scalise to wish him a swift recovery. House

146
00:07:30,200 --> 00:07:33,080
Speaker 10: Speaker Kevin McCarthy says he's talked with Scalice, who remains

147
00:07:33,080 --> 00:07:36,240
Speaker 10: in good spirits. Scalie is often mentioned as a potential

148
00:07:36,320 --> 00:07:39,200
Speaker 10: successor to House Speaker Kevin McCarthy.

149
00:07:39,520 --> 00:07:40,640
Speaker 3: Global News twenty.

150
00:07:40,400 --> 00:07:42,680
Speaker 10: Four hours a day, powered by more than twenty seven

151
00:07:42,800 --> 00:07:46,160
Speaker 10: hundred journalists and analysts in more than one hundred twenty countries.

152
00:07:46,520 --> 00:07:48,320
Speaker 10: I'm Amy Morris, and this is Bloomberg.

153
00:07:48,400 --> 00:07:50,800
Speaker 2: Karen all right, Amy, thank you, and it's time now

154
00:07:50,800 --> 00:07:52,520
Speaker 2: for the Bloomberg Sports Update.

155
00:07:56,680 --> 00:07:59,120
Speaker 3: And here's John Stashaur John good Morning.

156
00:07:59,280 --> 00:08:02,880
Speaker 4: Jaran and hitter. In San Francisco, the Giants Alex Cobb

157
00:08:03,000 --> 00:08:05,640
Speaker 4: had it going with two outs in the ninth inning,

158
00:08:06,160 --> 00:08:09,000
Speaker 4: Spencer Steer of the Reds broke it up with a double.

159
00:08:09,360 --> 00:08:12,120
Speaker 4: Com threw one hundred and thirty one pitches all the

160
00:08:12,120 --> 00:08:13,840
Speaker 4: way on a one hit of The Giants beat the

161
00:08:13,840 --> 00:08:17,320
Speaker 4: Reds six to one. The Orioles hosting the White Sox,

162
00:08:17,400 --> 00:08:20,960
Speaker 4: one one, seventh and eighty two pitch round ball. They

163
00:08:21,080 --> 00:08:24,440
Speaker 4: shit down the right field line. It'll score one.

164
00:08:24,560 --> 00:08:27,760
Speaker 11: It'll store two. Henderson flying around.

165
00:08:27,440 --> 00:08:30,200
Speaker 2: Third, he will make it a.

166
00:08:30,320 --> 00:08:33,160
Speaker 3: Three run double for Anthony Suntine.

167
00:08:33,200 --> 00:08:34,640
Speaker 2: Dare breaks the tie.

168
00:08:34,960 --> 00:08:36,920
Speaker 4: Ubaal had the call and the Oriols would go on

169
00:08:36,960 --> 00:08:38,719
Speaker 4: to win nine to three. They've got a two and

170
00:08:38,720 --> 00:08:41,640
Speaker 4: a half game lead on Tampa Bay in the AL East.

171
00:08:41,640 --> 00:08:44,080
Speaker 4: There's now a three way tie for first in the

172
00:08:44,160 --> 00:08:47,640
Speaker 4: AL West, as Seattle lost for just the second time

173
00:08:47,679 --> 00:08:50,520
Speaker 4: in the last fourteen games, beaten by Oakland three to one,

174
00:08:50,520 --> 00:08:53,800
Speaker 4: now tied for first with Texas and Houston. The Astros

175
00:08:53,800 --> 00:08:56,560
Speaker 4: one in Boston six to two. The Nationals won in

176
00:08:56,640 --> 00:09:00,600
Speaker 4: Toronto five to four. Baseball Players Association and asking for

177
00:09:00,600 --> 00:09:04,080
Speaker 4: a review of safety protocols after that incident in Denver

178
00:09:04,160 --> 00:09:06,520
Speaker 4: on Monday, when fans came onto the field and went

179
00:09:06,559 --> 00:09:09,640
Speaker 4: to Atlanta Star outfield Ronald Acunya Junior, one of them

180
00:09:09,679 --> 00:09:14,240
Speaker 4: embracing Acunya, another knocking him over. Both were arrested. Last Friday,

181
00:09:14,280 --> 00:09:16,600
Speaker 4: at a White Sox game in Chicago, two female fans

182
00:09:16,640 --> 00:09:19,560
Speaker 4: were wounded in a shooting. US Ryder Cup captain Zach

183
00:09:19,640 --> 00:09:22,280
Speaker 4: Johnson filling out his roster with Sam Byrn, Ricky Faller,

184
00:09:22,360 --> 00:09:26,880
Speaker 4: brooks Kepta, Colin Morrikawa, Jordan Speeth, and Justin Thomas johnstsh

185
00:09:26,920 --> 00:09:28,080
Speaker 4: Award Bloomberg.

186
00:09:27,720 --> 00:09:33,720
Speaker 11: Sports from coast to coast, from New York to San Francisco,

187
00:09:34,040 --> 00:09:38,079
Speaker 11: Boston to Washington, d C. Nationwide on Sirius Exam, the

188
00:09:38,160 --> 00:09:42,880
Speaker 11: Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak.

189
00:09:43,920 --> 00:09:45,280
Speaker 11: Good morning, I'm Nathan Hager.

190
00:09:45,320 --> 00:09:48,000
Speaker 1: We continue to keep an eye on Hurricane Adalia, now

191
00:09:48,040 --> 00:09:53,120
Speaker 1: a Category four storm aiming at Florida's Big Bend, where

192
00:09:53,160 --> 00:09:57,480
Speaker 1: the Peninsula meets the Panhandle. President Biden says he's keeping

193
00:09:57,520 --> 00:09:58,560
Speaker 1: an eye on the storm.

194
00:09:58,840 --> 00:09:59,719
Speaker 7: We're worried about that.

195
00:10:00,160 --> 00:10:03,880
Speaker 9: The surge, the ocean surge, we don't know exactly.

196
00:10:04,200 --> 00:10:04,800
Speaker 4: Hour to hour.

197
00:10:04,840 --> 00:10:09,160
Speaker 1: We're watching this also watching, of course, Bloomberg meteorologist Rob Carolyn,

198
00:10:09,200 --> 00:10:12,560
Speaker 1: who joins me. Now, Rob, it seems as though this

199
00:10:12,679 --> 00:10:16,559
Speaker 1: storm is gaining strength and speed really quickly.

200
00:10:16,640 --> 00:10:17,680
Speaker 3: What's the latest track.

201
00:10:18,600 --> 00:10:20,960
Speaker 5: Well, the track now, Nathan, as of the five am

202
00:10:21,040 --> 00:10:23,400
Speaker 5: statement from the Hurricane Center has the storm moving towards

203
00:10:23,440 --> 00:10:25,880
Speaker 5: the north northeast at eighteen miles an hour. It's about

204
00:10:25,880 --> 00:10:28,800
Speaker 5: sixty miles due west of Cedar Key, Florida. It is

205
00:10:28,840 --> 00:10:31,840
Speaker 5: going to make landfall later this morning in Appalachi Bay.

206
00:10:32,280 --> 00:10:35,359
Speaker 5: The good news about that area is it's not overly populated.

207
00:10:35,720 --> 00:10:39,040
Speaker 5: There's a big National Wildlife preserve there. Looks like that's

208
00:10:39,040 --> 00:10:40,920
Speaker 5: where the worst of the winds in storm surge will

209
00:10:40,920 --> 00:10:44,840
Speaker 5: go inland this morning. But such a powerful hurricane with

210
00:10:44,840 --> 00:10:46,599
Speaker 5: winds of one hundred and thirty miles an hour, and

211
00:10:46,640 --> 00:10:48,760
Speaker 5: it may strengthen a little bit more before it makes landfall.

212
00:10:49,120 --> 00:10:51,240
Speaker 5: It's going to be a dangerous storm as it goes

213
00:10:51,280 --> 00:10:54,679
Speaker 5: inland into North Florida. The Severe Storm Prediction Center has

214
00:10:54,720 --> 00:10:57,560
Speaker 5: a tornado watching effect for much of Central Florida and

215
00:10:57,640 --> 00:11:00,440
Speaker 5: the Big Bend area that will extend later today on

216
00:11:00,559 --> 00:11:03,600
Speaker 5: up into North Florida and South Georgia. Nathan, storm surge

217
00:11:03,600 --> 00:11:05,920
Speaker 5: should be about ten to fifteen feet in that portion

218
00:11:06,040 --> 00:11:08,840
Speaker 5: of the Big Bay Big Bend area this morning. The

219
00:11:08,880 --> 00:11:11,280
Speaker 5: bay there is fairly shallow, so they think the water

220
00:11:11,360 --> 00:11:13,559
Speaker 5: is going to be able to extend fairly far inland

221
00:11:13,800 --> 00:11:16,439
Speaker 5: and that will certainly cause some issues. Look for gus

222
00:11:16,480 --> 00:11:18,360
Speaker 5: over one hundred and thirty miles an hour as the

223
00:11:18,360 --> 00:11:21,520
Speaker 5: storm goes inland, probably between about seven and eight o'clock

224
00:11:21,559 --> 00:11:23,760
Speaker 5: this morning, and then it looks like the big threat

225
00:11:23,800 --> 00:11:26,640
Speaker 5: then becomes heavy rains which will be spreading from North

226
00:11:26,679 --> 00:11:29,559
Speaker 5: Georgia into the Carolinas along the path of the storm,

227
00:11:29,559 --> 00:11:31,560
Speaker 5: at least four to eight inches of rain, and that

228
00:11:31,640 --> 00:11:33,640
Speaker 5: is certainly going to lead to lots of flesh flooding

229
00:11:33,800 --> 00:11:36,720
Speaker 5: across North Florida Southern Georgia this morning and then on

230
00:11:36,800 --> 00:11:40,040
Speaker 5: up into eastern Georgia and the Carolinas later today and tomorrow.

231
00:11:40,320 --> 00:11:43,440
Speaker 1: So it's not just that Big Bend area of Florida

232
00:11:43,480 --> 00:11:46,719
Speaker 1: where we're expecting a lot of impacts. When we think

233
00:11:46,760 --> 00:11:49,240
Speaker 1: about the storm surge, Rob you mentioned that some of

234
00:11:49,280 --> 00:11:50,640
Speaker 1: the worst of it is going to be in that

235
00:11:50,720 --> 00:11:54,480
Speaker 1: less populated but shallow area. Are there other parts of

236
00:11:54,520 --> 00:11:57,840
Speaker 1: the Florida Gulf Coast that need to be concerned about

237
00:11:58,080 --> 00:12:01,280
Speaker 1: storm surge, even if it's not dire levels is ten

238
00:12:01,320 --> 00:12:06,920
Speaker 1: to fifteen feet, but possibly a more shallow, potentially storm surge.

239
00:12:07,240 --> 00:12:09,319
Speaker 5: North of Tampa Bay, there's going to be a storm

240
00:12:09,320 --> 00:12:11,640
Speaker 5: surge of about four to eight feet, Nathan to the

241
00:12:11,640 --> 00:12:14,000
Speaker 5: west of Apalachicola. There's not going to be a problem

242
00:12:14,000 --> 00:12:15,880
Speaker 5: with the storm surge since the winds are offshore and

243
00:12:15,920 --> 00:12:18,480
Speaker 5: it's actually blowing the tide out into the Gulf. But

244
00:12:18,559 --> 00:12:21,120
Speaker 5: it's those areas north of Tampa Bay all the way

245
00:12:21,160 --> 00:12:23,800
Speaker 5: to about Apalachicola that are going to be problems. Again,

246
00:12:23,800 --> 00:12:26,320
Speaker 5: about a four to eight foot storm surge, I would

247
00:12:26,320 --> 00:12:28,240
Speaker 5: say south of cedar Key, and then it's ten to

248
00:12:28,280 --> 00:12:30,800
Speaker 5: fifteen feet between cedar Key and Apalachicola.

249
00:12:31,559 --> 00:12:35,640
Speaker 1: Why is this storm seeming like it's building so much

250
00:12:35,800 --> 00:12:40,280
Speaker 1: strength so quickly. We've heard warnings from the National Hurricane

251
00:12:40,360 --> 00:12:43,559
Speaker 1: Center that this storm is unlike anything that they've really

252
00:12:43,679 --> 00:12:44,480
Speaker 1: seen before.

253
00:12:44,679 --> 00:12:45,400
Speaker 9: Why is that?

254
00:12:45,800 --> 00:12:48,480
Speaker 5: Well, I disagree with that statement because Katrina was a

255
00:12:48,520 --> 00:12:50,559
Speaker 5: Category one storm on the east coast of Florida in

256
00:12:50,559 --> 00:12:52,480
Speaker 5: two thousand and five. Thirty six hours later, it was

257
00:12:52,480 --> 00:12:55,640
Speaker 5: a Category five. So we have been seeing these storms

258
00:12:55,640 --> 00:12:58,319
Speaker 5: get stronger much more quickly in the last twenty years,

259
00:12:58,520 --> 00:13:00,440
Speaker 5: and it's due to the fact that the ocean are

260
00:13:00,559 --> 00:13:02,760
Speaker 5: much warmer right now than they were twenty years ago.

261
00:13:03,160 --> 00:13:05,960
Speaker 5: That's what's fueling this system. This storm has been moving

262
00:13:05,960 --> 00:13:08,320
Speaker 5: over waters the last thirty six hours that are at

263
00:13:08,440 --> 00:13:11,560
Speaker 5: ninety degrees fahrenheit that extend down to a depth of

264
00:13:11,559 --> 00:13:14,319
Speaker 5: three or four hundred feet. That's like rocket fuel for

265
00:13:14,360 --> 00:13:17,960
Speaker 5: a hurricane. They breed on water temperatures above eighty degrees

266
00:13:18,240 --> 00:13:21,040
Speaker 5: and every degree you get above eighty is just fuel

267
00:13:21,080 --> 00:13:23,400
Speaker 5: on top of the fire for these storms. That's why

268
00:13:23,440 --> 00:13:26,280
Speaker 5: we're seeing them intensify so quickly, and it's been going

269
00:13:26,280 --> 00:13:27,960
Speaker 5: on for a number of years now. We had it

270
00:13:28,000 --> 00:13:31,840
Speaker 5: happen with Irma and Maria back several years ago. Katrina

271
00:13:31,880 --> 00:13:33,840
Speaker 5: do the same thing. This has been the trend with

272
00:13:33,880 --> 00:13:36,720
Speaker 5: these storms to develop very quickly and get very strong

273
00:13:36,760 --> 00:13:37,240
Speaker 5: in a hurry.

274
00:13:37,600 --> 00:13:40,480
Speaker 1: Does that mean that we could see even further intensification

275
00:13:40,640 --> 00:13:43,199
Speaker 1: before this storm makes landfall a little bit.

276
00:13:43,240 --> 00:13:45,080
Speaker 5: The core of the storm is still over water, but

277
00:13:45,160 --> 00:13:47,120
Speaker 5: a lot of its circulation now is over the Florida

278
00:13:47,120 --> 00:13:50,160
Speaker 5: Peninsula or Panhandles. So I don't expect rapid deepening, but

279
00:13:50,200 --> 00:13:52,160
Speaker 5: I certainly could see it at you with winds of

280
00:13:52,160 --> 00:13:53,880
Speaker 5: about one hundred and thirty five or one hundred and

281
00:13:53,920 --> 00:13:56,240
Speaker 5: forty miles now by the time it makes landfall, which

282
00:13:56,240 --> 00:13:58,720
Speaker 5: would put it on the same order as Hurricane Hugo

283
00:13:58,760 --> 00:14:00,600
Speaker 5: which Charleston in ninety nine.

284
00:14:01,000 --> 00:14:01,360
Speaker 9: Wow.

285
00:14:01,440 --> 00:14:05,240
Speaker 1: And of course we are watching just daily. There are

286
00:14:05,240 --> 00:14:08,200
Speaker 1: a number of other named storms of the Atlantic right now.

287
00:14:08,240 --> 00:14:10,160
Speaker 1: What other systems are you keeping an eye on that

288
00:14:10,200 --> 00:14:12,479
Speaker 1: could potentially have an impact on the US.

289
00:14:12,920 --> 00:14:15,160
Speaker 5: None of them other than some big star Franklin is

290
00:14:15,160 --> 00:14:17,679
Speaker 5: passing west of the island of Bermuda. It'll bring them

291
00:14:17,720 --> 00:14:20,320
Speaker 5: tropical storm force Windnesday, but it stays out in the Atlantic.

292
00:14:20,320 --> 00:14:22,800
Speaker 5: There's a coal front dropping down from the north and east, Nathan,

293
00:14:23,000 --> 00:14:25,040
Speaker 5: that eventually is going to push both of these storms

294
00:14:25,040 --> 00:14:27,840
Speaker 5: out into the Atlantic, a tropical depression number eleven. No

295
00:14:27,920 --> 00:14:29,880
Speaker 5: threat to anyone. That's a fish storm out in the

296
00:14:29,920 --> 00:14:31,040
Speaker 5: south central Atlantic.

297
00:14:32,440 --> 00:14:35,520
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the

298
00:14:35,560 --> 00:14:39,000
Speaker 1: story's making news from Wall Street to Washington and beyond.

299
00:14:39,240 --> 00:14:42,040
Speaker 2: Look for us on your podcast feed at six am

300
00:14:42,080 --> 00:14:45,760
Speaker 2: Eastern each morning, on Apple, Spotify, and anywhere else you

301
00:14:45,840 --> 00:14:47,000
Speaker 2: get your podcasts.

302
00:14:47,120 --> 00:14:49,800
Speaker 1: You can also listen live each morning starting at five

303
00:14:49,880 --> 00:14:52,440
Speaker 1: am Wall Street Time, on Bloomberg eleven three to zero

304
00:14:52,520 --> 00:14:55,400
Speaker 1: in New York, Bloomberg ninety nine to one in Washington,

305
00:14:55,480 --> 00:14:58,320
Speaker 1: Bloomberg one oh six to one in Boston, and Bloomberg

306
00:14:58,400 --> 00:15:00,000
Speaker 1: nine sixty in San Francisco.

307
00:15:00,480 --> 00:15:03,640
Speaker 2: Our flagship New York station is also available on your

308
00:15:03,680 --> 00:15:09,120
Speaker 2: Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus.

309
00:15:09,120 --> 00:15:12,120
Speaker 1: Listen coast to coast on the Bloomberg Business app, serious

310
00:15:12,280 --> 00:15:16,239
Speaker 1: XM Channel one nineteen, the iHeartRadio app, and on Bloomberg

311
00:15:16,360 --> 00:15:16,920
Speaker 1: dot com.

312
00:15:16,960 --> 00:15:19,160
Speaker 3: I'm Nathan Hager and I'm Karen Moscow.

313
00:15:19,360 --> 00:15:22,080
Speaker 2: Join us again tomorrow morning for all the news you

314
00:15:22,240 --> 00:15:25,480
Speaker 2: need to start your day right here on Bloomberg Daybreak