ray dalio says fiscal and monetary injections have put the dollar under threat. j.p.morgan is set to have to send some manhattan traders home after a positive covid test, derailing plans to re-staff. jamie dimon says work from home will cause lasting damages. plus, facebook versus the ftc. u.s. authorities are preparing a possible antitrust lawsuit against the social network, meanwhile kim kardashian urges her 188 million instagram followers to freeze their accounts. good morning and welcome to "bloomberg surveillance." i'm francine lacqua in london. tom keene is in new york. tom, once again the new slow is pretty terrific, and we are getting some news out of the oecd. i think they have increased their forecast for the global economy, so they are now expecting the global economy to drop by 4.5% instead of 6% drop that they were expecting. this would be for the whole of 2020. fed day and i have my

fed uniform on for caroline hyde, all ready to go. they will come out with a forecast as well. there is a pandemic, everybody is guessing including tom keene and francine lacqua. but it is a nice vector, a nice gurrria. fortress look at the headline. this follows from that dropping -- that jaw-dropping 11% lift in jobs. amazon plans to put 1000 warehouses and neighborhoods. this is the new political message that we are getting from all of these tech juggernauts after this digital dominance of this pandemic. francine: i understand this would be a way of competing with walmart, which is doing pretty good. the warehouse would be closer to you in certain neighborhoods, so they could deliver on this one-day pledge. we are all used to getting our

packages pretty fast and get upset if we don't, so it is a race to get to the consumer as quickly as possible. francine: it is a jampacked day, futures up 17. francine: we will speak with angel gurria at 6:00 a.m. in new york, 11 a.m. in london. let's get to first word news with ritika gupta. isika: hurricane sally threatening the northern gulf coast. forecasters are calling it historic amounts of rain. the storm is expected to come ashore this morning near the border of alabama and florida. sally is now a category 2 hurricane with 100 mile-per-hour wind. president trump is trying to decide whether to approve an alliance with tiktok. security experts have examined the company's proposal. the president demanded tiktok s international

operations for security reasons. 2:00h the statement at p.m. new york time, jerome powell will speak afterwards. in japan, the parliament has elected yoshihide suga to be the country's first prime minister in almost eight years. he will replace shinzo abe, who stepped down for health reasons. he will lead the world's third-largest economy as it tries to recover from the coronavirus pandemic. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i am ritikantries, gupta. this is bloomberg. retaken, equities, bonds, currencies, commodities. really led by technologies, futures up 15, dow futures up 94 as well. i want to focus on what chairman powell is going to focus on, ,hich is the top lines yield

0.6 8%, nowhere since time began. then you have inflation nudging up nicely in the united states compared to europe, and you end up with a real yield. do the mathematics, it is real simple. -.9995 on the 10 year real yield, and that is germane to all watching the fed meeting today. francine? francine: european stocks are edging higher. it is all about the fed and seeing whether we have more clues about what to do next in terms of inflation. treasuries much steady, the dollar slipping, and i want to look at wti. american crude oil climbing after u.s. stockpiles dropped. 39 can see crude oil at point 22. we are to lead to be joined by and thank you so much for joining tom and i today on fed day.

what do you want to understand from the fed? >> two things. what the outlook is for the next howyears to 2023, but also much scarring has there been in the decline me locally -- in the economy globally. they are not gone, coming back, so that mean structural growth is going to be lower. whether that matters for currencies in general, especially fleecy downward ric revision. francine: what are you expecting the dollar to do? is to the downside right now because the fed might want to elaborate on how they are going to set policy forward because it really is going to be to keep yields as low as they can and to set rates and allow thattion to run -- seeing

negative for currency, and notwithstanding the fact that the u.s., where they are positioning the dollar, whether they are positioning on other currencies, they can look at that sentiment, especially for europe. tom: we are thrilled that you're joining us, leading off our fed coverage this morning. the geometry of this is extraordinary, and i would suggest that the distillate of this down the road, 202022, 2023, will be seen in expressed of the dollar. what will the dollar do if at 2.2%owell succeeds inflation sustained? 2.2% inflation sustained, bear in mind in real terms already, that says the dollar really appreciate in real terms. the nominal exchange rates, where they are right now, getting a decent and healthy inflation -- that is already good enough for financial conditions. but will jerome powell, will any policymaker allow further dollar

strength? i think that is where, like the ecb, like the boj, you want to push up against it without justifying it. tom: i knew you would answer is that way. it is so important to me, this is really critical. this is an important fed meeting. they will lay out the trajectories, the path. as peter orszag would say, the glide path that they hope for. geoff yu, what is the biggest risk in their hope? geoffrey: the biggest risk is that rather than anticipating if percentage points of economic scarring, the ideal number being zero, it is going to be a lot bigger. u.k. unemployment on the labor proxy forbers, a good the size of the economy, that is down almost 20% since before the pandemic. --t also mean that analysts that means trend growth could be 20% or more.

you get that wrong and your assumptions are wrong, then your policy is going to be wrong. you're kind of left fighting in the dark right now. francine: we have a viewer writing in with a great question, which is about correlations across asset classes. at the moment, things are rising hand-in-hand. what would it take for that to change? geoffrey: firstly, bond yields. so the bond market. -- doesbanks will be that automatically mean that u.s. stocks or global stocks or rick appetite -- or risk appetite is going to rise? there needs to be correlation with that. the election is going to play into that. i go back to trend growth. if you can still see the investment gap, and europe is doing that right now, than some sectors are going to be better than others. tom: this is a bit off your remit, but i'm going to go.

about the great unemployment debate in the united kingdom, in the united states, of temporarily unemployed shifting to a new permanent unemployed. what will that do to lower for longer? do you just assume 23 is perhaps a fiction, and because of the job market we are really going to be expressing 2024 or 2025? geoffrey: there are two lines of thinking along that, and it is going to impact the political debate up ahead. one is that we deal with it and try to direct government investment into generating new jobs, jobs that we don't know existed. -- that even know what is one line of thought, innovate, innovate, and innovate. go green like europe is doing. the second is you vi.

if you want something structurally unemployed and it is no longer temporary, invest, make sure that uv is well and that consumption staysi where it is. tom: we continue our coverage with geoffrey yu of the ny melon here. the economics into all the challenges, all the pressures that chairman powell faces. we will have a special congress led by caroline hyde today at 2:00 p.m. in new york. this press conference will be unusual with a wonderful set of guests. the controversial opinions of scott minerd of guggenheim, and alan blinder of princeton will join us as well. we love doing this show. it really drives forward the conversation in real time as the fed speaks. stay with us. from london, from new york, this is bloomberg. -- danielr again yergin in the next hour. this is bloomberg.

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>> the european union and the u.k. jointly agree it was the best and only way for ensuring peace on the island of ireland. and we will never backtrack on that. this agreement has been ratified by this house and by the house of commons. it cannot be unilaterally changed, disregarded, or to supply. leyenne: ursula von der speaking to members of the european alliance and her state of the union. this is after boris johnson and his team admitted they would be breaking international law.

geoffrey yu of bny mellon is still with us. after the summer months when we did not talk much about brexit, it is back at the forefront with a vengeance. what does it mean for u.k. assets if the u.k. unilaterally stops with this withdrawal agreement? geoffrey: the first point would a no deal agreement would be priced in with respect to the fda. -- with the sta. the nextld happen month and a half or so. given the unique circumstances of this year, i think they will be more at risk from further deterioration with the economy, given the labor market and the lack of fiscal follow-through. there are many headwinds at this point, which means that the risk to the boe will be firmly to the dovish side. francine: does it mean that the

boe would have to go into negative rates, or does it just mean the markets for the moment don't want to touch u.k. assets? geoffrey: may be more on the boe at this point, more encouraged that the markets are doing something about it. under governor bailey, they are clearly much more partial, less .dverse toward negative rates maybe we need to wait another meeting cycle to go there for qe. also possible on fiscal -- is the budget going to be delayed? this is what markets need to have confidence in the u.k. up ahead. tom: geoff yu, as we speak to you in real time, we are seeing the emotion at least of the new unemployment. this from british airways, and i don't have the story in front of me. widely anticipated, thousands of job cuts from british airways. geoff yu, for the elites, the fancy people like you doing

economics, doing the dynamics of the market, when do many thousands of job terminations matter? geoffrey: they are mattering already, and they will truly matter to the economy. when the multiplier effects come in. if you look at heathrow airport, if there is no aerospace industry, the hundreds of thousands of people who live in the area around heathrow airport, their job in the duty-free shops, what happens to them? and then the local communities that support, what happens to them as well? this will escalate very, very quickly. tom: is this going to fold into institutional financial policy, whether it is the central bank or fiscal policy? are we going to finally have an understanding of how those into larry businesses, though small businesses are getting into larry-- those businesses, those small businesses are getting absolutely crushed? geoffrey: you need either ubi or

you need schemes to keep these jobs going. i'm really surprised that the boe seems to be the odd one out right now. many of these jobs are not coming back. how can you make a determination after three to six months, that these jobs which are perfectly viable three to six month ago are not coming back? that is far too quick a rush to judgment. but elsewhere central bank are absolutely going to be hammering this and demanding the fiscal recovery, and we will see what the physical response is going to come. francine: are you expecting the recovery to be stronger-than-expected or chicken quicker than expected? geoffrey: i think europe, the recovery, given the government support, the recovery will be stronger and faster than expected. china is more of an extreme model. the u.k. without strong fiscal response that the budget could be delayed -- that could mean

that the u.k. is a laggard and that the u.s. may be somewhere there as well. of course, the vaccine could change things. some governments may be too quick to cut off the fiscal pipeline right now with what could be viable jobs. that means your scarring is much higher, your trend estimates are much lower, and your policy with wrong input, that is the big risk globally right now. francine: thank you so much, geoffrey yu of bny mellon staying with us. coming up, we will have plenty more on the markets and we will speak with angela area, at 6:00 6:00th angel gurria, at p.m. in london, 1:00 p.m. in new york, and this is bloomberg. ♪

morning, everyone. bloomberg surveillance. francine lacqua in london, tom keene in new york. real tail banking -- retail banking is important because of the digital demands of the global bank, particular with the united states as we so with citigroup, the competitive challenges. withorrespondence talk stephen bolin, bank of america's president of retail. 90% are sayingg homeownership is a goal that they have. we are seeing that they are saying saving for a home is a real priority. what is interesting given the environment this year, over half are accelerating their plans for

homeownership or are still on track with their plans for homeownership currently. about low all just interest rates? steve: low interest rates are a part of it because people are seeing this as a potential rate environment of a lifetime. i also do think that we are starting to see optimism as people are coming out the other side of the economic environment that was created by the health crisis. >> speaking of the economic environment, the first half of this crisis people had the stimulus in the u.s. to live off of. as some of that rolls off, are you seeing signs of stress when it comes to the u.s. consumer? steve: we are really seeing signs of recovery. whether it is spent, credit, and debit card spend, spending his back on track from where it was a year ago, credit card spend was down 40%, now it is down a little bit less than 10%. people who are rolling off on deferrals are making their

payments at a high rate. what we're really seeing a lot of signs of is that people are starting to get back on track. >> is there anything that you are seeing that could really upset that type of recovery? steve: you have to pay attention to the phase of reopening, and there are some sectors that will take a little bit longer to get back. we are watching that geographically to make sure that we see any trends that cause concerns. you have to move carefully and deliberately, but again, a lot of optimism. >> there are still some sectors of the economy that are seeing pain like the retail businesses, like the restaurants. there are still small businesses shutting. are those still areas that concern you, or do you have more reason for optimism even in the most troublesome places? the areasarly one of that we are engaged in was the protection program, getting small businesses to have access during the storm.

the second part is, you talked about spend. some of the places you do not see spending coming back as quickly. not patella, travel, things like that, so those sectors on the other site of it as well. it is going to be a little bit slower of a rebound for those folks. francine: that was bank of america's president of retail, steve boland, speaking with bloomberg. and the nooses on what the fed will -- what the fed will do, but also wti. american crude is climbing a touch after u.s. stockpiles dropped at 39 point 28. overall european stocks are higher with u.s. futures, investors waiting for the outcome of the fed policy meeting later today, and then i am also looking at a couple of other things -- for example, retail and mining shares leading the european stoxx 600. tom: there is no question it is extraordinary to see as well. the bond market, let me get it

back up again. in the real gilt market, the real yield, -1%. i'm also watching renminbi, a quiet story around the storm of beijing in washington. i'm going to say it is not tiktok influenced -- maybe someone will correct me -- stronger chinese yuan. this is becoming a big story. it's not. 6.76 on you on. every day stronger renminbi. coming up on bloomberg markets, the chief economist for the international monetary fund. it is fit day. stay with us through the day. this is bloomberg. ♪ ♪ you can go your own way

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switch and save up to $400 a year on your wireless bill. with the carrier rated #1 in customer satisfaction. call, click, or visit your local xfinity store today. this is the bloomberg first word news. president trump is promising his long-awaited replacement for

obamacare is ready. the president made a statement in a contagious's townhall -- cap hostile event. he has repeatedly promised his health care plan would be introduced in a couple of weeks, only for the deadlines to come and go. joe biden has made his most direct appeal to hispanic voters yet. he made his first trip to florida as a democratic presidential candidate. he told a rally that president trump has failed the hispanic community time and time again. ininos are crucial about florida. one of the key battleground states. smoke from the wildfires on the west coast has made its way to the east coast. it has been spotted high in the skies over washington, d.c. some of the world's most looted cities are in california, oregon, and washington state.. air-quality readings have soared that hazardous level. president trump's come -- nominee judy shelton does not have the vote for confirmation

in the city yet. that is according to the chamber's number two republican leader senator john food. shelton has expressed views outside the mainstream. she says she is still a priority for the white house. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: thank you. for a virus update, britain is be furtherts may restricted. donald trump set a vaccine may be ready in three or four weeks. a timeline assigned his have previously does missed as unlikely. -- dismissed as unlikely. joining us now, jonathan heeney. he is leading a study on dna vaccine against coronavirus's. would you look at some of the

things that we still don't understand about covid-19, does it depend on the dna -- if i get it badly but time doesn't come if one person reacts in a different way to someone else? >> it is very likely a genetic component. we know there are various factors, just not age, cardiovascular disease, respiratory disease. there are a lot of factors that play. there is a lot we have yet to understand. francine: you are doing a study on this dna-based vaccine that protects against multiple coronavirus. why is covid-19 different? >> it is a complicated virus. it is the largest rna virus that we know of. this virus when it infects, induces such a strong immune

response that people actually who have the highest antibodies are often progress to disease. those who are mild or asymptomatic have very low levels of antibodies. it is a fine balance for us to try to understand and develop a vaccine that will induce the right kind of antibodies. tom: professor, we are thrilled to speak to you. i want to go to bob woodward's new book "rage" on president trump, opening the book talking about your world with matthew pottinger at the national security council and his great, great fear that pros like you look at every day, which is the virus moving around between animals. the virus moving around between humans. do we have a knowledge of this virus where we are secure that it won't mutate or advance into something new? >> we do know these

stableirus's have fairly genomes but once, heirs occur and usually causes a great change of behavior. fortunately, this virus is like influence at that is rapidly changing and shifting its content, so we have it in our sites. the problem is, it has such a complex machinery when it gets into a cell that it hijacks it and the immune response. tom: the complex machinery is critical. the neva tate that the media and the public have about how hard it is to make vaccines. >> it is a complicated process because you need to understand the good immune responses and differentiate those that can cause disease. i mentioned earlier, people who progress to severe covid disease and life-threatening -- are

those that actually respond robustly. and those of the kind of responses we need to avoid in vaccines. so when someone talks about strong t cell response, it is the nuances that we need to differentiate. it is very difficult to articulate that and to communicate that to the public in such a way that is clear to them. and certainly, for politicians to get that, especially if they are anxious to promise to the population that we are going to have a solution. the good news is that there are enormous number of candidates out there being progressed. what we need to do is advance them as quickly as possible so we can identify those that will induce the right kind of immune responses and give as protection across the population. professor, what do we understand about what we call the long haulers?

the people that could have a mild infection of covid-19 and then have some kind of nervous reaction system that they need to deal with the sequels, the legacy of the virus for many, many months? give us an idea of the complications and actually the fact that this covid-19 is so difficult to get your head around. >> the problem with this virus is that it is not just respiratory infection, it causes infections in many different organs -- kidneys, heart, even the brain. some people will have cognitive problems later on. they will have maybe long-term adverse effects. certainly, these clots that occurred in advanced disease can then impact on multiple organs. so it is very important for us to realize this is not just a

simple respiratory disease, but one that causes multiorgan disease. at what we see in children is going to be very different than what we see in the elderly. needat context, we may different vaccines for different age groups. tom: interesting. jonathan heeney, thank you. we look forward to speaking to you again foster professor of comparative pathology and also with diosynvax, their founder into visit -- and chief executive and how these services move around. one of the greats on american policy, particularly the melding of fiscal policy into our economics and particularly our labor economy, jason furman. at 12:00 noon, grilling by david westin of the professor. this is "bloomberg." ♪

your bloomberg business flash. amazon wants to make shopping online as fast to quick window store. the largest online retailer will open 1000 small delivery hubs in cities and suburbs all over the u.s.. it will help amazon take on walmart better when it comes to same-day delivery. j.p. morgan chase sent some of the workers in manhattan on this week. one of the bags employees and equity trading tested positive for the coronavirus. news of the infection came several days after j.p. morgan told senior traders they needed to start working again at the office instead of at home. the fighting started up has

raised $40 million including hosts virtualch cycling races. than $1w valued at more billion. that is the latest bloomberg business flash. tom: thank you. it is all a pr exercise when you have the changing of the guard in japan, that is what happens and the words of stability, continuity, and the other words of calm reign supreme. behind the curtain is chaos. at the ldp and across domestic depend. we get translation from stephen engle. about the happy talk, what is the backstory? how conservative is the new prime minister? >> the government of japan tends to be kind of conservative by

nature, of course. suga canto see whether break from that mold. abe did for the most part, at least publicly talking about a number of structural reforms, but didn't really get off the ground? we know about the support for the boj and the negative rates and the fiscal stimulus and the like, but the structural reform is the real hard, hard job. that conservative nature comes out when you try to break down those vested interests. , the other prime minister, says he wants to break the curse of the revolving door premiership. they had 17 prime minister since the heyday in the mid-1980's. 17. sam lasted only a few weeks. 64 days, one prime minister lasted. from two, no prime minister lasted more than three

years. it is a thankless job in a difficult one. good luck to suga suga and suga -nomics. they have a lot to work on because there is low productivity, the structural reform that needs to be done -- a long list. too long to list here. francine: what does he want to tackle first? fighte have the appetite, on that? >> i think you will have to. first of all, the number one priority is to contain the coronavirus outbreak. that is the big dampener on the economy. all the gains of real gdp gains over the last eight years under abe have been wiped out by the coronavirus. he can easily pick up again once economic activity picks up and manufacturing picks up and the like. the coronavirus has to be the number one priority. the structural reform will be the big, big issue. does he have the teeth?

the appetite? i'm not certain. his cabinet is pretty much the same as a's. great student of history on this so i am sure you will be able to drive forward this question. with the changing of the guard in america to a second term trump or first-term biden, a lot of people are going in search of the next mike mansfield, the german who went over to japan, charmed the japanese as well -- the gentleman who went over to japan, charmed the japanese as well. do we have the troops in place to be the next mike mansfield? >> wow. said the, suga u.s.-japan relationship will be -- cornerstone of warner foreign policy. the big issue, will it be with donald trump, which shinzo aim developed a great relationship does noticly, but suga

have much diplomatic experience. he has been the chief cabinet secretary, the backroom brawler for shinzo abe. he doesn't have a lot of diplomatic experience. it is due territory for him, whether it is building a relationship with donald trump or joe biden. he is starting pretty much from ground zero except he knows where donald trump comes from. looking ate were tictoc and we asked you about tiktok. are things moving a better direction? >> that is an interesting question because you have a number of different reviews that have to happen. yet the commerce department looking at the security reviews, the chinese government -- which, obviously, has not been pleased with the way this has been handled. the head of the chinese mission to the eu yesterday said -- call

it something like economic bullying on the part of the orte house to force a sale iteration of the sale, a partner with oracle. we're hearing one panel could give under steve mnuchin its recommendation to donald trump by the end of this week. the deadline is september 20. that is sunday. i would expect a recommendation at least from cynthia's coming by the end of this week. we could get a deal approved by the white house, but a number of analysts are telling us the deal that we know of right now, we don't have the specifics, then do we know right now, the details do not necessarily assuage the fears the white house and have on the security front. isthe end of the day, it donald trump's decision. all of the analysts and security panels give him all the recommendations they want, but donald trump will make the final call. today i believe yesterday i believe he made some very flattering comments of larry ellison, the founder of oracle. francine: thank you so much,

stephen engle. about somefer lee, of the various forecasts that have come out of the oecd better-than-expected. this is "bloomberg." ♪

it has crept up on us, not surveillance," the -1.00%.ld 2:00 p.m., caroline hyde. a great set of guests to talk about the delicacies that we are going to hear in the press conference. that is the word i would use here, a most delicate press conference. beare honored they could with us. right now we are on with jennifer lee.

talk about a i delicate press conference. where will chairman powell be most delicate? >> good morning, everyone. you are right, it will be a very delicate press conference. he will have to be able to balance the markets expectations , very nervous market i think in some ways, to make -- to ensure everybody that the bed will need to do more, prepare to do more if necessary. at the same time, setting expectations that nothing is going to happen for some time, for quite a long period of time i think and definitely not -- nothing will happen during the next meeting in november. setting the expectation toward 2021. tom: as you know, the cliche is truly unchartered territory. to our audience, what is the big 2023?etween 2022 and

we all know it is comical to game out that far. >> it's true. i don't even know what i'm going to have her lunch today, let alone what rates are going to be in 2023. a setting expectations. we already know in june, which seems forever ago, almost -- actually, every single policymaker on the committee, all 17 of them, for c rates staying at the lower bound for this year and next and most for 2022. this is the month that they will add in another year, so they will be three years out. that sets expectations that any rate hikes will be something that will be more of a 2024 story than anything earlier than that. francine: jennifer, what kind of impact are you expecting on dollar from here to the end of the year? lowxpectations are pretty that rate hikes are going for

the future, that will have not too much of an impact. i think more of the impact is how much the fed is going to be prepared to step in if necessary, how much they're going to pressure -- pressure they're going to throw onto washington for more physical support like also till banks have been doing. a lot of this i think will be driven the dollar by the economic data, and so far we have seen it has been almost phys ed starts with the recovery is soldiering on. starts with the recovery soldiering god. bidding on how the pandemic -- , strongery weaker u.s. dollar versus the pound because of brexit. potentially weaker dollar versus the euro because the ecb is not too concerned right now about how strong the euro is going to be. it is a to waste tree.

overall, we still see -- it is a two-way street. overall, we do see the u.s. dollar weakening little bit over the next couple of years. francine: jennifer, what kind of scarring are you expecting on the u.s. economy? our growth raised forecast a couple of ago just because it is very hard to ignore what we have been seeing. like i said earlier, it has been growing in fits and starts. the production figure yesterday, seems like the economy overall has been firming. firming at a bit of a faster pace, and that is why we lifted our growth forecast a couple of pointago to minus four percent. it is been a long time. it was nice. it was a good feeling to lift the outlook for the rest of this

year. tom: what is the value of that outlook, that good feeling if politically any central bank is a slave to the idea of the labor economy? does it really matter we are gaining gdp if we are looking at recession like an employment? >> overall, it is a broad outlook. but overall i think stronger growth is beneficial. it means a stronger economy overall and that will essentially lead to stronger employment. which is what the fed continues to look at. the're looking at not just unemployment rate, but all different factors of labor market, of the labor market before they will start raising rates. obviously, growth, broadly speaking, stronger growth is definitely a good thing for everyone. tom: jennifer lee, thank you so much. really, really appreciate it. i'm going to go back to this

praise delicate, this meaning snack up only personally and i think there will be some interesting nuances in the press conference. it has been widely anticipated, no other way to put it, generally are good out with a new book -- daniel juergen out with a new book. on how we will map our weight into the next century. the new map. stay with us. futures up 18. this is "bloomberg." ♪

give you my world ♪ ♪ how can i, when you won't take it from me ♪ ♪ you can go your own way ♪

♪ go your own way your wireless. your rules. only with xfinity mobile. tom: this morning, the new map. markets await a new definition of lower.

forget 2022. chairman powell will not pretend. he will extend well into 2023. also, what is the true unemployment rate in america? look at the new map, which is the real yield prices and a hope and prayer of elevated inflation and a better economy. chairman powell will press at the press conference for others to assist. how about dial 1-800 mitch mcconnell? in 40 days and counting -- no, not the election, it is until apple announces the next iphone that all your children must have. also, throw them a new copy of that map by daniel juergen as well. "bloomberg surveillance." we celebrate the publication of daniel yergin's new book in a moment. francine, what is the new map for boris johnson this morning? how goes the brexit story? francine: the bst