reproduction numbers published today indicate covid-19 is in retreat, and -- in five of england's seven regions. numbers, as a boost to boris johnson who faced criticism from scientists when he proceeded with the final stage of his plan to lift pandemic rules. a federal judge in washington has ruled that a temporary u.s. ban on evictions in parts of the country hit hardest by the coronavirus can continue. it is a major victory for the biden administration's efforts to expand protections as a delta variant spreads. it marks the latest twist in a month-long legal saga on how far the government can go to protect renters from their home -- to put checked renters in their homes. nine moderate house democrats sent a letter to nancy pelosi threatening to withhold support from a $3.5 trillion budget

blueprint until the bipartisan infrastructure packages signed into law. the stance risks unraveling the speaker's plans to bring the budget resolution -- resolution to a vote in the house. speaker pelosi can only afford to lose three members of her caucus in a vote on the budget. the taliban impeded their sweep of southern afghanistan today as they took four more provincial capitals. in the last 24 hours the country's second and third largest cities have fallen as has the capital of the southern province. it means that the insurgents control more than two thirds of the country, weeks before the u.s. plans to withdraw its last troops. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton, this is bloomberg.

amanda: welcome to bloomberg markets. matt: we welcome our audience this hour, and here are the top stories we are following from around the world. justin trudeau is said to plan an announcement this weekend for a snap election. we will bring you the latest and the update on the new vaccination requirements. plus we will discuss the red-hot housing market with the cfo of open-door as the company's shares surge in a strong second quarter, but what does the future look like if the housing market cools off. plus labor market -- later in the hour, we will discuss the growth of and concerns

surrounding decentralized set -- the defense realized -- amanda: markets are pretty flat, we are seeing of course some pausing the action. the internals are a little bit more interesting. we have a mixed picture and the groups that got the market higher are moving higher today. so the faang related markets are moving higher. you are seeing weakness for financials. overall you wind up with a flat look across north america. a big piece of the puzzle continues to be big movers, we are seeing stocks moving on earnings, disney is one, doing well and we see investors willing to buy and sell based on individual stories of the day, but that consumer confidence number for what it is worth, this has to be the one that we consumer confidence at 2011

lowe's, which -- lows, which means we are below the could -- the pandemic low. and how much does that factor into spending plans and what does that mean as we look ahead to retail sales and the housing market. but, all of this weighing on the markets and having them focus on the bond market today. matt: i thought it was surprising to see that huge plunge, and one has to wonder how much that has to do with inflation. the interesting thing is and the university of michigan also put out consumer inflation expectations. if you look at them one year out, things are relatively high, outside the 10 year you only see 3%, which is in line and a little bit less than historical averages for inflation. maybe there is something else going on. amanda: maybe there is, and we will watch it.

that is one data point that we will watch with interest. on the canadian side there is also some political mass in nations. it is expected that an election will be called as soon sunday on september 20, it is what sources have told us, and that is, of course in the context of pandemic recovery, perhaps economic recovery. we are joined by theo. this is perhaps the part of that that makes it interesting because this could have been a referendum on how the government handled the pandemic so we are not out of it yet and this changes the story. theo: the government hopes that it will be a referendum on how they handled the pandemic because most canadians are about half of -- about 50% of canadians believe that they have done a good job. the government came forward with a massive income support program last year, and that helped drive

one of the largest growths in national income in decades. we had a 10% increase in income last year -- income to households last year because of this support. so, canadians think that justin trudeau has done a good job. the question is not whether the election is about the pandemic management, it is more weather other issues come into play like the economy, like focus on trudeau himself who is a divisive figure in canada. matt: given what we just saw in the u.s. with consumer sentiment falling to a decade low, trudeau has to be worried about the economy, how has he done in terms of stocking up on vaccines and getting them out to the public, at least those who are willing to take vaccines? getting people back to work, is that all happening?

theo: the vaccine rollout was slow to start, initially earlier this year, it has picked up quite a bit and canada has one of the highest vaccination rates among large countries anywhere. the vaccine rollout is one of the success stories for trudeau. and, it looks like getting canadians who are not taking vaccines yet, part of the campaign will be trying to encourage them to get the vaccines, and maybe shaming them. many of these people who are vaccine hesitant or anti-vaxxers are more likely to kind of be in the conservative camp, so it is possibly the whole vaccine rollout is possibly going to be a major election issue in the campaign, actually. amanda: we had some new rules announced today for federal

employees and travelers into canada. if you are coming by rail or air, at some point you will have to be vaccinated in order to do that. do you expect that to be a popular move? theo: mandatory vaccinations or requiring people to provide proof of vaccination is very popular in canada. 70 to 80% think that some type of reporting requirements or mandatory requirements on vaccines is a good thing. i think it is going to be popular, and it is not a surprise that it was a major announcement before they made an election on -- they called for an election on sunday. i think vaccines in the vaccine rollout will actually be one of the issues that the true government will try to make an edge -- the trudeau government will try to make an issue, to try and expose some of the hesitancy on the conservative

camp and provide a wedge issue. matt: thank you for joining us. he leads bloomberg's canadian economy and government coverage talking about the possibility of snap elections being called this weekend. with home prices rising at the fastest rate on record, open-door has done really well, gobbling up homes. 8500 in the last quarter and then helping them flip. we will discuss the ambitious play in the red-hot real estate market with the chief financial officer of open-door. ♪

matt: this is "bloomberg markets."

shares of opendoor surged on the back of the company's second-quarter earnings results. opendoor pioneers a popular spin on home flipping called i-buying purchased 8000 homes with its tech powered approach to real estate gaining popularity. the cfo joins us exclusively to discuss. so, usn chile buy houses sight unseen -- so, you essentially buy houses sight unseen and remove the time-consuming and expensive process of selling homes. how do you see this business continuing if the housing market cools down? carrie: not quite sight unseen, we look at the homes, but during covid we looked at a -- on a virtual basis. you know, as you just stated,

the u.s. housing market has been on a tear and it is a sellers market, but for us the macro that matters is the fact that there is a massive secular shift happening from off-line to online real estate. we are very early into that, less than 1% of homes are bought and sold online and we are at the forefront of driving that change. so we believe this will be a share gain or across different market cycles for housing. amanda: you are certainly showing strong increases in your own percentage of growth. as we understand you are in talks for a credit facility, $2 billion to give you flexibility. will you also bring a bond issuance? is that something in your future to bring you more capacity? carrie: the real headline or that we are tracking now a fully two years ahead of where we should be. we are hitting our 2023 revenue

targets if where we are track if you look at -- if you look at where we are tracking two. we will continue to scale our balance sheet and results. i cannot comment on future finances in particular but expect us to expand our balance sheet and hopefully finance partners will come along with us. matt: financing could become increasingly important as well. i mean, in addition to ibuying, what you will be able to help consumers get mortgages and buy their own homes? carrie: we want to be the digital one stop shop for everything it takes to move, we will help you sell your home, simple, fast, and certain, and that -- and buy your home and if it means we can help you buy your home and we want to provide the whole suite of services over time and that is what we are marching towards. amanda: it feels, you mentioned

the percentage share you have of the market at the moment which leaves a lot of fertile ground ahead of you. are you operating kind of undercover because you are dealing parts of the market that the entrenched players could not be bothered with? and at one point is that flip over to you taking market share from big traditional real estate players? carrie: the agents on the brokers? 99% of homes today are sold and bought through the traditional listing process. we believe that great services are born out of solving big pain points for customers, and i cannot see a bigger pain point then selling your home the traditional way. i do not think we will be a secret in the future. we will gain shares across our markets and consumers love our offering. we have a score well north of 80%, because consumers for the first time have this convenient

and certain way to monetize their home, sell it, and buy the next one. we will not be a secret for much longer. matt: buying and selling a home is notoriously difficult. the wall street journal says you take the hassle out of buying and "the new york times" says you make moving simple at the click of a button. i wonder if you do not face competition in this market. zillow does not do as much of the ibuying and they are in the market but they have a bigger market in the terms of home search and redfin as well. what differentiates opendoor? carrie: first of all the competitive set is that 99% of transactions that are still being sold and bought off-line. that is what we are competing against every single day. you know, we are the market leaders and innovators, we

created this category, and everything we have done is in service of the customer. it is all we do, this business, and in this stage of category development, consumer or rare -- awareness is all tailwind, it is a rising tide and we are focused on marching forward. amanda: great to have you with us, we appreciate your time. carrie wheeler of the cfo -- is a cfl of opendoor, coming up the future of decentralized finance, we are talking to one of the leaders in the crypto space, the crypto bank ceo bill. ♪

amanda: this is ". bloomberg

markets" there is much discussion about the future of decentralized finance which increases the access to a host of products to a new range of people, a high risk and high return, some would say with some maturation to go. we have the founder and ceo of crypto bank, abril, and sonali. where do you think we are on the maturation path. we saw earlier people creating innovative products, and we have also seen the regulators taking a close look at some of it. where do the two meet up? bill: i think that we are so early but a lot of the regulators do not understand what decentralized finance really is, because a lot of the services that call themselves to centralized are not necessarily yet, meaning that is there an

off switch, can you shut it off. you cannot shut off bitcoin but some services you can. the other flipside is that these services are hard to use, and that is what we are trying to solve, providing yields in a very safe, easy to use environments that masks a lot of the complexity of the user interfaces and understanding how these services work. amanda: you say safe and easy to use but none of this is fdic insured and we have seen major blowups. how do you protect consumers when this is the case and how do they get safer by any means? bill: first of all it is not banking in the traditional sense so the insurance would not apply anyway. and so, the key here is that when you have a service like abril, we are auditing contracts, and -- abra we are

auditing contracts and testing in advance. a lot of people are following yield to say 50% year and click a button without understanding what they are doing. where as when you are depositing crypto and stable coins with abra we are investigating contracts and working with partners and testing for weeks at a time and scaling money off in very -- scaling money off slowly. in compared to the traditional lending, that is the majority of our portfolio to generate the yield. it is still a small part of what we are doing, but it is growing? matt: the new head of the fcc sometimes seems like a carpenter who thinks everything is a nail, are these token action -- actually securities? bill: that is a good question, i wish they would provide more guidance on the reality of this. it depends. he mentioned this i think in comments, there is a test today

to determine this. it is out there, you can do it, i think there is a process with in gauging to get clarity. you are not guaranteed to get it, but it is unclear. each of these individual projects, i guess is obliged to go through this so-called test to determine whether or not these tokens are securities, or utility tokens, and that is their obligation as far as i understand. amanda: i want to switch gears because there is this great eye on the flippening, the idea that ethereum will become more valuable. you have evidence that shows that there are more interest in ethereum then bitcoin? bill: the interest is skyrocketing. we have seen in theory him and a competitor also skyrocket. i think this idea of not only defi but nft and stable coins based upon smart contracts that run mostly on in syria are

exploding and uses -- on ethereum are exploding and uses. you will probably see a theory him get past bitcoin. that corresponds to the upgrades that for the first time last week shows signs that ethereum was deflationary for a day or two and it does point to a theory and potentially becoming bigger than bitcoin but with a different model. that coin is acting against gold with ultimate store value and a theory him acting as a computer. matt: thank you for joining us we hope we get you back because there is a lot more to talk about and i am fascinated, as are the others by this topic. the founder and ceo, bill joining us to talk about defi. thank you for joining us as well. now, we have breaking news. a couple of headlines out right now. we are hearing from boeing that it is too early to say if there

star liner can still launch in 2021. just a couple weeks ago they were supposed to launch the star liner, but it was scrapped for whatever reason, and now they are saying that they have got to do some deeper level, next level troubleshooting. we also got headlines from the cdc that their panel has voted to recommend a third shot in immunocompromised patients. we had a headline out from the fda. so the cdc is joining with the fda and saying that the search might be necessary, it has been a pleasure, have a happy friday. i am matt miller. this is bloomberg. ♪

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lisa: i am -- mark: i am mark crumpton with the first word news. china is not healthy with

officials plans for deeper inquiries into -- they say it is politically motivated. the chinese state media has also ramped up a campaign to push the conspiracy theory that the united states military pathogen lab in maryland could have caused the pandemic. houston schools are defying the governor's orders. the board of the houston independent school district has voted to require masks for students and teachers in class and on buses when classes begin august 23. governor greg abbott ordered that governors -- that govern -- that districts not require masks. dozens of people on both sides lined up with signs. meetings are kicking off in mexico city between venezuela and the members of the opposition party. the talks aimed at