tom: david blanchflower and marty schenker, thank you so much.emonstrators protesting the bill to allow extradition to china for the first time. carrie lam apologizing and ill, but the b protesters one her to resign. putting pressure on china to compromise on demands or risk further unrest. mike pompeo is vowing the u.s. will protect shipping in the persian gulf. he was on public affairs talk shows and says there is no doubt iran was behind the attacks on two oil tankers in the region last week. republican senator tom cotton says the attacks warrant a military retaliation. argentina is not ruling out a cyberattack for causing a massive blackout. it struck 5000 men thinking 5000.ies -- cyber terrorist not considered the primary -- it struck five south american countries. super rich descending on london's housing market. homesoportion of selling this year has almost doubled. one of the best-known buyers is hedge fund billionaire ken griffin. he bought a winter $20 million home near buckingham -- $120 million home near buckingham palace. global news

david: although warren likes to get around to that, too. marty schenker, thanks so much.up in the next hour, peter navarro, assistant to the president for trade and manufacturing policy, will join us. don't miss that. . this is bloomberg. ♪ ♪ the powell put alive and well. fed chair jay powell says the fed will act as appropriate to sustain expansion, setting up for some cuts. the market now debates timing. is there a reversion to the mean, or did powell light a fire under equity markets? and the world bank cuts its global growth forecast, and the imf lowers china gdp outlook, with trade the wildcard and linchpin for growth. we will speak to peter navarro, assistant to the president for trade and many fracturing policy. david: welcome to "bloomberg daybreak" on this wednesday, june 5. we are really looking forward to talking to peter navarro. he's really the man of the hour, considering what trade is doing for the white house and the world. alix: and as time goes on, the more his voice is made to heard on china, mexico, etc. david: in the meantime, over in europe, we had

david: we will be watching. thank you for being here, marty schenker.or the balance of power newsletter at bloomberg.com. get the latest on global politics in your inbox every day. yale's senior fellow steven roach. the chinalk about trade and the fed decision. live from new york, this is bloomberg. ♪ mark: i'm mark crumpton with bloomberg first word news. the european union says it will wait for scientific reports on 's compliance with a nuclear deal before announcing a response. the eu says it will not speculate on what will happen if tehran beers away from the terms of the deal. iran says it will break the uranium stockpile limit's set by the nuclear deal by world powers in the next 10 days. the political crisis in hong kong has deepened. hundreds of thousands of demonstrators again protested a bill that would allow extradition to china for the first time. the chief executive has apologized and shelves the bill, but protesters say that is not enough. they want her to resign. all of this puts pressure on china to compromise on the protesters demands,

david: that is shawn donnan from washington. now let's turn to marty schenker in new york and talk about passion and the democratic party. and nearly early stages, the passion needs to turn into money , and it turns out they are passionate about their candidates but not their party. marty: bill allison in washington wrote an interesting piece about how the democratic national committee is seriously lacking behind the republican national committee in fundraising. the democrats are spending lots of money on the 20 candidates dnc,ng, very little on the and it is having to borrow to keep going. david: this could be the boring part, but the important part. you need the parties to do some of the plumbing, the foundation work that redounds your benefit in november. marty: if you do not do the organizational will -- the organizational work early in the process, organizing state by state, district by district, you can have a serious problem when the democrats finally figure out who they will nominate and start actually campaign. time, it the same seems like the presiden

as i said yesterday, until we confirm david schenker later today, his confirmation to hold the top middle east job at the state department will have been held up for more than a year. this is the middle east position at the state department. and, yet, as a cloture vote indicated this qualified nominee carries overwhelming support. the nomination's been held by democrats for political purposes that have nothing to do with the nominee or his qualifications for the position. given the crises ranging from libya to yemen and almost elsewhere in between, it is time to have a secretary for near eastern affairs confirmed and on the job. later we will confirm susan combs to serve as assistant secretary of the interior. her nomination has been pending in the senate since july of 2017, two years, 700 days, just shy of two years. but starting tomorrow she'll finally be on the job. these are the kinds of nominees who once would have moved swiftly through the senate, frequently by a voice vote. i wish we could rediscover that tradition. but one way or another we'll continue to make progress. on another