tom, francine? tom: karina, thank you. equities, bonds, currencies, commodities. the 29,000 level. the vix came into points earlier, one point now, 32.31, and yields up about a basis point well. francine? francine: tomam looking at european stocks rebounding, treasury rising. i know you mentioned that. interesting what happened in europe, because we did not have a selloff earlier on, and now bank stocks at a rally, after we have that kai-chen ken's bank bank in spain and are talking about merging, and it will take a step, but it is something we need to look at for emerging stocks for a third day. coming up on "the open," a full line of guests, including rick rieder of blackrock. that hour with jon ferro, that is at 9:00 a.m. in europe, 2:00 p.m. in london, and this is bloomberg. ♪ ♪ >> valuations, particularly through the technology landscape, have gotten through some particularly its ordinary levels, so i think it is not a surprise. between growth and value has been on the table for a while. it means have we been able to hold a significant lead as we coming to favor where they stay in favor. prices impact and continue to go up, their volatility goes up, too, which is not a normal relationship. it i

tom furious, not at his son but at his accusers, the people who had cared for heath while tom was incarcerated. that's somebody coaching him or encouraging him? >> i believe so. >> coached or not, tomm knew from day one that they needed to prove the sound those boys heard was tom dropping a window frame on the back porch and not the fatal gun blast. four days after tom foley's arrest, schaeffer and cuberstein took a trip to the farm to try and do just that. >> couple of perry mason moments. don't come very often. >> this is the frame that we found. >> right where tom said he dropped the frame, they found this tiny shard of glass. immediately they tried to match the shard with the frame tom said he dropped. >> if you take the shard and set it in one of the few remaining, intact areas of the frame, you can see it fits perfectly. >> it was compelling evidence that tom may have been telling the truth, but schaeffer would need more than a shard of evidence. he next called this woman, janette moore, the woman who came forward immediately following tom's guilty verdict and the reason he was ultimately granted a new trial. >> i do. >> moore said she was driving past the foley house right a

basically lost the debate in terms of just the viewers and i think that that was unfortunate because as tom tom tom and i agree that there's a lot of substance we talked about. but i do think that that trump that both trump made some good points during the debate and his strongest point was during the law in order signal quite frankly, but i do think that i landed some really hard punches. i think when he turned to the camera and said he doesn't want to talk about it, he's on the attack on 100 biden when you said you want to talk about. someone's family is what about your family. i think that was a really really good good moment that that he a transition there actually look straight to camera and just in terms of just debate. one oh one by do a better job of trying to connect with the camera. i mean trump ever looked at the camera one streaming entire debate all right tom, what are your thoughts. >>going into this debate. everybody knew what trump would be like we didn't know what biden you some of us including me speculated that he would have trouble given he is and come in to klein and you know w

tom. tom: continue. >> thomas hobbes is important because when he sat down to write leviathan, about the structure of government, it changed in number of things. was the most powerful place in the world. more --e economy, far it had everything. but the west came back because it adopted -- when you talk about how to change government, we thought about what you could do if you used an imaginary figure. at one time we thought maybe we would take angela merkel in the white house and see what happens. that was more instructive to go back to the 19th century, and the reason why is that the 19th century is the last period when there was massive reform of government. tomlutely. >> and william gladstone from britain. we took him in aunt -- this is really important, -- the 19thfriend that is a fact. how does whoever is after trump, how do they begin to get us back to what gladstone argued about? >> i think you have to go back to basics. one interesting thing is that people are looking at the selection and thinking all we need to do is change the leadership. and there are some things which i think it's fair to say things are not done particularly well and does not play to his strength. you have to bring in experts and organize things. those are not really his strengths. whatever happens, the healthcare system is designed for the old and the rich. start policet causing violence in the streets. whoever comes in to american government, whether it is trump or biden, they have to seriously think about reforming things. empires do not reform. andcould have defeat america has been defeated by pretty much every big country except by britain. it is how to react t

tom. tom: we could get all of our different guests, get their backdrops and do some kind of -- lisa: no, it would say triple leverage cash fund over and over again. tom: that looks good until yesterday. look at the pop yesterday, it was pretty good. lisa: in cash? up, we willming have frederick degrees at. ducrozet. presidenten says trump willingly lied about the threat of the coronavirus threat for months. he spoke after the president's comments to bob woodward were revealed. president trump saw woodward in purposelysaid he downplayed the pandemic to avoid panic. found some ofhas its employees improperly received relief funds intended for american businesses. the suspicious amounts of money had been deposited into checking accounts of the workers. some employees have been fired. jp morgan is not commenting. wildfires in california have transformed the skies over san francisco. during daylight, there was a dark orange glow. more than two dozen major fires are burning in the state. one is causing 25,000 miles of path destruction through the foothills. it is possible that thousands of homes and buildings have been destroyed and three people were killed

tom? tom: joining us now is chief content officer martin schenker. it is about politics, it is about kicking off the presidential campaign. roundingl stretch, maybe third base, maybe second base. we have to rip up the script. marty schenker with us, and we need to talk the nasdaq. the nasdaq whale, the gamma whale, as it is called as well. not thes it is strategy, it is the sheer mass of the strategy. aat softbank has done as publicly traded company borders on being a hedge fund as abu dhabi/deutsche bank types have done with softbank as it measurement. are they a hedge fund? marty: they would say they are an investment firm, but they have all the trappings of a hedge fund and taking on all the risks that hedge fund might take. as we are seeing, tesla down 10%. tomwrigley's them? u.s., japanese regulators? -- who regulates them? u.s., japanese regulators? marty: they are subject to regulation in their home country and in japan and in the u.s., to the extent that they engage in investment activity, but clearly there is no consequence to their actions, or at least there hasn't been to date. tom: nasdaq right now, down 2%. i know we have to switch to politics and the presidential election, but the nasdaq futures -228.orate in qa, that is a big number, francine. francine: it is a big number angry to get marty's perspective on it. the market is concerned about this ramped up rhetoric around china and president trump, but now president trump is ready to put $100 million of his own money into the campaign. what does it tell us about his state of mind? marty: it tells us that his internal polling is not very good if he is willing to put in his own money. i think this race is a lot tighter than the polls would suggest and will get tighter still as we get

have like a story from boston from last year that laid out in detail how he tried to like finance a tom-tom on most college gift the biggest. so they're like lots of lots of things that he's doing with the help of the little bank that are definitely not not really key message you investigative journalists and also some lawyers have long contended that the smoking gun in trump's relations with russia is in fact financial to the fin send it leaks offer any proof of that well they certainly offer some indication that there is more than meets the eye and i think this is the reason that trump has been so forceful in trying to prevent investigators in the united states from getting either his tax returns or his financial really records related to georgia bacon has to be said it's not just the deutsche bank did business with donald trump they were the only bank he was willing to lend him money when all of the other major lenders in the united states said you know there's no way we're giving this guy any more money so they have a i think also a lot to answer for here so it's not in their interest e

tom barrack, coming up. futures -13. this is bloomberg. ♪ tom: "bloomberg surveillance." francine lacqua and tom keene. barrack was a great supporter of president trump. that has ebbed a bit over four years. jason kelly, in conversation with mr. tom barrack. powell has done an amazing job with 435 individuals, say how do we get theplan not to us, not to big countries -- it is not the balance sheets, people are panicked for survival. the average individual trying to figure out how do i live, how do i go forward? what is happening with my rent, my home loan? what is happening with my check that is not coming from an employer? that confusion and dismay, when to $5ve $3 trillion trillion being flushed into the economy and how do you disperse it? you have to give them all credit. at the end of the day, the solution to all of that has got to be a resurgence of confidence across all the things that we talked about. pandemic -- i honestly never thought i would see a global submission as bad as this is, -- and asrible horrible as an environment like this is, we cannot find a solution, a cure, that is another qua

tom keene in new york. ashton lined tom: stephen king, good morning. tom keene in new york. earlyingdom done this better than the united states. is there ability, given the turning of the pandemic, to continue income support? stephen: it gets increasingly expensive because the more that you deal with this, the more you are adding to the budget deficit and building up higher levels of government debt. if i worked at treasury, i would be a little uneasy about that, the idea of continuous -- i suspect what is going to happen, as the furlough scene comes to an end, and it will by the end replace it they will with something else, perhaps something closer to allowing the market to play some kind of role. one possibility, we might have a negative employer national insurance contribution, the government subsidizing employers to bring workers back, to actually having them do work rather than being furloughed at home. a subsidy means that some people who otherwise would have lost their jobs will keep their jobs, but there will be no guarantee that everyone will keep their jobs. but per

tom. are you going to pay for this? tom: no. jonathan: shocking. tom: futures live. an: this is bloomberg. ♪ look here, it's your very own all-in-one entertainment experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. this is "bloomberg surveillance." two hours away from the opening bell. equity futures doing ok. the fx market, approaching 119. treasuries staring down a fed decision. that is the story. we have had a shift in the reaction function. it is about how they implement it. tom: look at the headlines. delta airlines will not take another government loan. i don't get it. they are down 80% international. industry that needs financial assistance to get to the othe

tom? tom: and 90's strong numbers giving their competitors a boost. su: all of these retailers looking for a sign of hope, and nightly gave it to them. rivals like footlocker, under armour, sketchers, all pulled along for the ride as nike sword after hours. investors really wanted to see nike shake off the pandemic bruise, if you will. last quarter, they had a surprise and a dire outlook. biggest athletic wear maker really turned it around in that sense. online sales dumped 82%. quarterly revenue beat estimates by an eye popping $1.5 billion. the company posted $.95 a share and doubled the true directions -- the projections. growth in china and better margins have returned it to profitability. in the conference call, nike says it sees improvement of folk -- price sales -- for price sales. revenue, theyr 21 see that up in the high single to low double digits. again, a far stronger report than anyone expected. back to you. yvonne: su keenan. it was not just the u.s. rivals of nike that were boosted by all of this. take a look at the chinese sporting goods brand we have seen as well. those are all gaining in the region here today. the leader up 3.5% or so. we are watching the bank. that is very much in focus area you have the likes of hsbc continuing to see the fallout from this report, and we are stock down a third day. bank of east asia, that is the one in the news here according to our sources, that the bank is set to press ahead with that life insurance sale after they did this nine-month review of its strategy. standard chartered seems to be doing better than hsbc, up .6%. tom the banking sector. homecoming ipo's have raised a combined 2 billion u.s. dollars in hong kong. the second listing at into the wave of share sales by mainland companies already trading in the u.s. and developer are the latest surprise, offering a small discount. chinese companies are heading back to asia amidst threats to capital access in the u.s. the body that represents global airlines says universal mandatory virus tests offer the only realistic hope of reviving demand for travel until a vaccine is widely available. in manyry quarantine countries is crushing aviation, with many carriers facing collapse. airlines have had a dispiriting few months with rising infection numbers dashing hopes of a fast recovery. you can tune into the bloomberg quality summit on bloomberg tv and bloomberg live . they are on today, some of the biggest names for the business, education, sports and entertainment world. you heard from julia gillard just now. the bloomberg quality summit kicks off from

tom, good morning. tom: francine, good morning to you. it is wonderful to be here. what a day yesterday, and the recovery. we saw the big jump in stocks. equities, bonds, currencies, commodities. futures negative six, dow futures -83. we are focused on the vix, which is out at the 30 level, and 28.18 on theay, vix. the bond market, remarkable, that story just unchanging as we see in oil. west texas intermediate on demand, 39.63, still under $40 a barrel. francine, i will let you talk. strong dollar, turkish lira is beyond difficult, from 7.60 in a matter of hours after 7.65. that is something to watch very carefully. francine: the u.k. government is taking hold of the surgeon coronavirus cases, pubs and restaurants closing early, and the public is being urged to work from home again. thank you for joining us. we were just hearing from the ,ater -- the labour party head saying that if we go back into lockdown, this will be a big failing from the government. it is a fine line, trying to find tune the restriction so that people do not get infected, but keeping the economy open. what will boris johnson actually be judged on? >> he is going to be judged probably first on whether schools can stay open, and second, on the overall cost to the economy. actually, on both fronts it is not looking very good. we are hearing stories of children being sent home from schools because somebody in there bubble or peer tested positive, then having to work from home in this sort of hybrid schooling. it is not clear that these schools are going to be able to sustain this. if infections get worse through the winter. that is going to be one big test. and then obviously the economy, and we are seeing huge pressure on rishi sunak to extend the furlough. he is now providing more business loan support extension, but it is not clear that what they're are doing is going to be these lockdowns impose -- a big hit to consumer confidence. francine: we don't have enough testing. it seems that there are huge delays. is the government going to get a handle on that? is the government once again ill prepared for this scenario? righte: i think that goes to the heart of the labour party message today, saying that this time it is on boris johnson. the first lockdown, people understood was due to the epidemiological situation and thought it was temporary. this time a lockdown -- a partial lockdown is coming partly because there has been such a failure in the testing system. labs are not turning testing around enough. could the government have anticipated this? almost certainly it should have. it is going to be very hard for the government to inspire people to come back to work, allow shops and restaurants to operate as normal, and we are still not clear when that is going to be fixed. boris johnson promised 500,000 test by the end of october, but he has made a lot of promises. tom: tom keene in new york. not that i have ever experienced a last call in a bar, i wouldn't know what that means. but the thing to me that is remarkably illogical is the closing of pubs at 10:00 p.m., my ability to get the virus at 8:00 p.m. or at midnight. this is like cinderella. why 10:00 p.m.? behind 10:00logic p.m. is the main vector for spreading the virus is young people, who spread out into the street. they come in late. but with the smallest impact on the bottom line at pubs and restaurants -- remember, they make most of their revenue from food sales at tables rather than the beer at the bar, so the government figures this way it can still let people out without having too much of an impact. the in the united states, scientific community is at odds with president trump, to be kind. withis the relationship the scientific community, that we talk to every day, with the government? therese: here is the other disturbing thing. the chief scientific advisor, the chief medical advisor,

tom. tom: michael mckee is interviewing all of them. [laughter] he's interviewing williams three times in a row or something. jonathan: hopefully on this program. tomt know. we are all going to listen. somehow, the lead theme will somehow be the cry for fiscal support. jonathan: bullard i don't see on the list. maybe they are all out in force to drown out the noise that st. louis fed president bullard made last week. coming up on the program, lale topcuoglo, johcm portfolio manager. i can tell tom what's to say something. just get it out there. what do you want to say? tom: i don't know. i've got to leave early. i've got therapy. penalty shot therapy. what a stupid sport, jon. jon, change the rules. jonathan: ok. tom: it's dumb. jonathan: we'll talk about it in a minute. i don't know why i asked. this is bloomberg. the first word news, i'm ritika gupta. a blockbuster report says president trump paid just $750 in u.s. income taxes in 2016 and 2017. according to "the new york times," the president reported losing millions of dollars on his golf courses, and reportedly has hundreds of millions of debt that will come due in the next few years. the pres

tom where you may or may not be living because he will disclose that. [laughter] lisa: repeatedly. tom: you popped so much on that austrian piece, you made up for the debacle known as lift pop -- known as lyft. jonathan: i wish. i wouldn't be here. [laughter] that is my out. tom: this is serious. you can't make money in bonds. 11.to jonathan: we advance 1.4%. you know what this is. this is "bloomberg surveillance ." ♪ ritika: with the first word news, i'm ritika gupta. president trump is denouncing a blockbuster report on his taxes as fake news. according to "the new york times," the president paid just 2017 andncome taxes in 2018. the times analyzed at least two decades worth of the president's personal and business tax returns. democrats are previewing the tactics they will use to oppose the confirmation of supreme court nominee amy coney barrett. they are zeroing in on the risk to american health care coverage. the supreme court will hear a case in november that could lead to obamacare being ended. regardless, parent's -- regardless, barrett's confirmation seems a sword because we public and have a majority in the senate. if federal judge has temporarily blocked president trump's ban on new downloads of tiktok. tiktok was do to be removed from u.s. app sto

tom tom. foreman wine cellar is unfortunately they no longer used to such today. there are cell is under the whole of tom tab because at the end of the 20th century it was a huge wind trading center people said it was the 2nd largest wind trading center in europe after bordeaux in france and in the year 898 alone some 18000000 leases of wine made their way from here out into the big wide world type of event. the 1st thing all visitors notice above ground is the breach gate on the muzzle at the beginning of the 19th century there was enough wilf here to commission the well known berlin art nouveau architect we're moving he not only designed the bridge gate but also a number of villa. park noble architecture characterizes tom caught up to this day a great place to start my journey along the muzzle. today i want to find out why the result is one of the most beautiful river scapes in germany so i'm off for right along a part of them was ill psychopath from top to call him but that's not all i'll also be finding out why mazel wines are so special. for one thing wine growing on them as well dates back to roman

tom? lisa: tom keene said he had low expectations for you, kevin. i don't. i have high expectations, and i expect you to be out for 24 hours and come back tomorrow. tomrrow morning. kevin: i always know that lisa has my back. [laughter] tom: the reason he is so happy is the cleveland browns are worse than the philadelphia eagles. lisa: what are you drinking, tom? jonathan: kevin, great to see you. get some rest. kevin: thank you very much. jonathan: isn't that the most import question? tom keene, what are you drinking? tom: the joy of my arsenal coffee this morning, against the my deliverable. lisa: all right -- the mighty liverpool. lisa: all right. they lost. i understand. i think a team, and they lose. tom: liverpool is good. liverpool is like the boston red sox. lisa: so what are you drinking, bloody mary? tom: it's like a standard beer from cleveland. jonathan: it only took 25 minutes for this show to go off the rails. alongside lisa and tom keene, i'm jonathan ferro. special coverage coming up later , bloomberg radio, bloomberg tv. david westin, 8:30 eastern. the coverage begins right here on bloomberg. this is "bloomberg surveillance ." ♪ jona

tom: no question. jonathan: i think we need to get our heads around that, tom. tomis no question about that, if you look at the history versus what you learned in the textbook. the oecd made clear today the aggregate demand all in is not there, but what is so important about this is if yields go, there is a published belief they will remain calm and collected, well above 2%. jon, i do not buy that. there will be real sweat as inflation starts moving outside that comfortable band. jonathan: what do you think is comfortable, tom? what do you think is comfortable for chairman powell, president kaplan, the rest of the? do you think they have their own different views on that? tom: yes, they have widely different views. after greenspan, they were supposed to be on the same page. guess what? it is like the bank of england. they are not on the same page. it will be interesting to see. one person i will watch is charlie evans of chicago, who has been exceptionally articulate about this gradation higher, if we ever see it, and yields. jonathan: i do not expect to see a gover

tom keene who -- where they are in the league. neil: the least you know about them the better. they are a source of constant angst is all you need to know. tom: thank you. jonathan: neil shearing of capital economics. tomom of the league. that is called doing a red sox. jonathan: that is called doing a red sox. tom: you really like this program. jonathan: what show is it? tom: you are in it. all of the drunks at the bar, the local bar, it is a pub. i misspoke. it is a wonderful effort. getting lots of buzz. it is jason's today kiss and it is a great on thought -- it is ekis and a great ensemble cast. i can understand a third of what jon ferro says and one third of what they are saying. lisa: that make sense. jonathan: great respect, but i do not understand what you are saying. 8:41. this is only why we do the show for about an hour and 45 minutes. by the time we get to 8:41 eastern you are calling me drunk at the bar and saying you cannot understand anything i say. tom: we got a fan letter from a wonderful nine-year-old. it is true. lisa: look at those markets. jonathan: she knows. we've been together for years and people cannot figure out whether we actually like each other. i think tom just confirmed

tom? tom: somehow i think the tax issue will come up. ♪ tom: good morning. "bloomberg surveillance." bate in cleveland, ohio. we will give you some framework on that with david westin and kevin cirilli. cleveland, ohio is exceptionally important to the fabric of late 19th century america. it was arguably the richest city in the world off of oil in the times of the 1890's and the 1900s. case western reserve university, a leading institution -- think the legacy of john hey and of alldow of dow chemical and the industrial might of another time. it will be important for us, in this debate, to find a political experts. rather than that, we drag in a gentlelady from case western reserve university in cleveland, ohio amy pope of chatham house. is -- went went this there. this is one of our great science institutions, and esther trump will be talking at that nexus of science and engineering. amy: this will be a big show. there will be a lot of fireworks, is what i am expecting. tom: there is an agenda. we all know chris wallace and what he has been doing -- he has always been very rigorous ab

tom: what a marriage. jonathan: tom and i were married, that would be it. every dinner. tom: we are at home on the weekend. time for a market check. lisa: thanks giving discussion. [laughter] 500 futures in 11. euro-dollar, $1.1636. you know what you are listening and watching. this is "bloomberg surveillance ." ♪ ritika: london has been placed on the u.k.'s list as an area of high concern, and covid cases continue to soar. a group is calling on londoners to abide by the rules set out by prime minister boris johnson earlier this week. those included working from home where possible and keeping to the rule of six. leaders across europe are grappling with how to bring the coronavirus back under control. launched ace have murder investigation after a police officer was shot and killed inside a police station today. the incident happened in croydon, south of the city. police say v 23-year-old suspect then turned the gun on himself. he is in critical condition. it is rare for police officers and the u.k. to be shot and killed, which has strict firearm laws there. the last london

have like a story from boston from last year that laid out in detail how he tried to like finance a tom-tom on most college gift the biggest. so there are like lots of lots of things that he's doing with the help of village a bank that are definitely not not really key message to investigative journalists and also some lawyers have long contended that the smoking gun in trump's relations with russia is in fact financial to the fin send it leaks offer any proof of that well they certainly offer some indication that there is more than meets the eye and i think this is the reason that trump has been so forceful in trying to prevent investigators in the united states from getting either his tax returns or his financial really records related to georgia make it has to be said it's not just a doctor being did business with donald trump they were the only bank he was willing to lend him money when all of the other major lenders in the united states said you know there's no way we're giving this guy any more money so they have a i think also a lot to answer for here so it's not in their interest ei

have like a story from boston from last year that laid out in detail how he tried to like finance a tom-tom on most college gift the biggest. so they're like lots of lots of things that he's doing with the hope of village a bank that are definitely not not really key mess you investigative journalists and also some lawyers have long contended that the smoking gun in trump's relations with russia is in fact financial to the fin send it leaks offer any proof of that well they certainly offer some indication that there is more than meets the eye and i think this is the reason that trump has been so forceful in trying to prevent investigators in the united states from getting either his tax returns or his financial really records related to georgia back and has to be said it's not just the deutsche bank did business with donald trump they were the only bank he was willing to lend him money when all of the other major lenders in the united states said you know there's no way we're giving this guy any more money so they have a i think also a lot to answer for here so it's not in their interest ei

hello good morning tom toms confirmed he wanted to assassinate the syrian president bashar al assad despite2 years of flatted denials that the option was even discussed in a new interview the us president confirmed the killing would have happened he said if it wasn't for opposition from his former defense secretary jim mattis is it true that after assad gas children for the 2nd time that it was you they wanted to take out assad that you had a good side on him i would have rather taken him out i could have all said mattis didn't want to do it. because the assassination of president assad by the united states never even discussed the book is total fiction washington says bashar al assad committed crimes against his own nation including multiple alleged chemical attacks both syria and its military ally russia have always denied any involvement don't know mcadams the executive director of the ron paul institute says trump's flippant admission could have dangerous consequences. that is needed early in 2018 that the u.s. had no evidence that assad was behind either the attack or the cain she coul

allison tom tom. dorgan instructor hit the ground running. and the secret to success to be found in his homeland. we took a look around norway to find out. if you go off. 90 minutes on d w. a middle aged welcome to the 2nd season on the fence. about the environment still about society and still about our split off planet spun the brain he spoke to some of the leading experts in the field about. such a system in the real sense of the flame. they've been robbed of their soul that's what a people experiences when their heritage is taken from them. countless cultural artifacts were brutally stolen from africa by colonialists and carted off to europe . these thefts left wounds that have yet to heal what should be done with the stolen north from africa. stolen soul starts september 7th on g.w. . player. play. this is a huge news hole live from berlin the u.s. race for president becomes a standoff over protests and violence the city of commercial wisconsin is the visit by president it's been rocked by unrest since the police shooting of a black man

tom wasn't there to hold her hand. tom was at the evans police station answering questions. >> i don't know what's going on. i have no idea and that's why i'm asking to speak with you. >> reporter: it was 2:00 a.m. and tomg blood-stained clothes, the ones that a sheriff's deputy should have already been bagged as evidence. >> how was your relationship with your wife? >> really good. >> reporter: but said tom ashley was devastated when she miscarried the very day of her new year's party. >> it was hard for ashley, it was hard for me, but i didn't think that -- >> still, at the party itself she seemed all right. they got on fine until the argument about the marijuana. tom admitted he was furious at ashley's family, said he was trying to protect her and they weren't. >> i told ashley, you don't need to get high. i was like if whatever happened today, the miscarriage, i said it happened. its like, you know what, [ bleep ] your mom, [ bleep ], everybody. >> reporter: so there was no love lost between tom and ashley's parents, that was clear and tom admitted he and ashley kept arguing as they got ready for bed and turned around and went to the closet and it was all over. >> the wire was in the closet. i heard

tom: it is amazing that paul donovan and this pandemic has graduated from the mohamed el-erian pylon tom school. jonathan: he sees right through you. he knows. just tell everyone, go. tomul donovan, what is so important in the time we are in, there is such a respect for the holistic nature of your research reports. what do we need to focus on on global trade? stiglitz talks about the globalization and all of that. what is the thing forward on world trade we need to focus on? paul: globalization, the rise of global trade share of gdp, that is done, because the globalization story of the last 25 years was about increasingly complex, increasingly long supply chains. that is no longer desirable. this is a change that has not been brought about by the pandemic, it is being accelerated by the pandemic. we will see a fairly steady decline in global trade as a share of gdp. there are two possible ways this happened and they have very different implications. if we go down the route of trade taxes, tariffs, that is not good news. that is telling companies you have chosen the best possible location for your production, we will force you to go somewhere that is second-best. no com

tom. it is a wonderful book i want to encourage everyone to read it and buy multiple copies. . >> great questions. tom. wow. schwartz: jeremy poses excellent points and i appreciate very much what he said about the book. that is probably the highest praise you can give an author, that you have got to them to think about something. i know that is one of the things i hope to do in the book. abuse of power by the thinkive, yes, i kissinger was one of these figures who was concerned about leaks. it was one of the driving things to getd richard nixon the plumbers and that kissinger had a connection to some of the people who worked on his staff. ae of them has written fascinating doctoral dissertation in anchorage people to look that up. but i think kissinger -- this is , both beingger political and nonpolitical, paid off. in a way, the image he shaved and speaking about domestic politics was something that the media was happy to believe. very happy to buy into and give him a pass. there is a wonderful line that walter cronkite added and they were asked what they gave him. they gave him a pardon. walter cro

tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. jonathan ferro, lisa abramowicz, and tom keene on this september 11. we welcome you all of you worldwide on bloomberg radio and bloomberg television. we've been doing this for 19 years. each year is different. vice president pence will travel here to the memorial site, maybe with vice president biden in attendance as well come on his way to pennsylvania. it is a most different september 11. jonathan: 8:46 eastern is the first moment of silence as we observe united airlines flight 11 striking the north tower 19 years ago. tom: there are all sorts of remembrances, but no one on this team but lisa abramowicz understands this.

tom: how many times will we mention it? jonathan: i lost count. lisa, will you count it? lisa: no, but i'm going to let tom know that. tom: 47 times. lisa: there you go, 47 times we mentioned fiscal stimulus. jonathan: just to clear this up for our listeners, our audience worldwide, tom keene has not counted how any times. [laughter] maybe he find out it was 47 times. just inant to clarify case someone puts it down in a research note. tom keene wasn't watching that in the testimony yesterday. lisa: jay powell keeps saying we need this go support. we don't know how much moment to him it's going to decline as cases this momentum it's going to decline as cases think -- momentum is going to decline as cases increase. that seems to be the major of a point in the framework for the federal reserve. vice chair richard carrin adjoining "bloomberg --veillance" at 8:00 a.m. vice chair richard clarida joining "bloomberg surveillance" at 8:00 a.m. you do not want to miss it. you talked about the discipline in europe with manufacturing. we will get the read for september in the united states. 10:00 a.m., fed chair jay powell going back to congres

tom keene is in new york. markets are moving but struggling for direction. they are looking at stimulus in the new york but also the number of cases in europe. tom: you mail it in the opening. it is a struggle of a friday -- you nailed it in the opening. it is a struggle of a friday. there is only one story percolating right now. that is the redo of the stimulus. speaker pelosi under huge pressure to jumpstart the stimulus talks. a lot of people saying that. francine: that will filter onto the markets. let's get straight to bloomberg first word news. ritika: good morning. republicans are pushing back against donald trump's refusal to commit to a peaceful transfer of power. mitch mcconnell tweeted "the process will be orderly, just as it has been every four. years since 1792 also -- every four years since 1792." the senate also committed to a peaceful transfer of power. democrats have started drafting a new stimulus proposal that could get past the house next week. smaller than the package the house passed in may, it is still larger than senate republicans say they can expect. president trump said he will go as high as $1.5 trillion. in the u.k., rebel members of the conservative party are threatening to seize the parliament to block new coronavirus rules. at least 40 tories have put their name to an amendment wiping out the government majority on the issue. it comes as the commons is due to review the pandemic legislation six months after it was enacted. the move would still need opposition backing. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. francine? tom? tom: currencies and commodities a bit of the disorder. we are not a correction level in the s&p 500. we are just beneath it. 9.6% depending on what mark you take. yields going nowhere. what is interesting me in foreign-exchange, safe haven ebbs away with euro gyrations from a 1.07 to a 1.0805. that is a little bit of note. can you tell i am struggling? i'm just not getting it done. francine: it is a friday feeling. there is so much news and market seem to be a bit all over the place. today we just seem to be taking stock about what is going on. you see the dollar slipping. they are moving sideways. investors weighing the week process of this american stimulus to counter the global uptick in coronavirus cases. that encapsulates the struggle for a lot of these markets. talking about the markets, the is christian -- miller -- christian mueller-glissmann, goldman sachs -- are we going to see markets range bound until the u.s. election? christian: you might remember last time we spoke we

tom: do a price check. jonathan: in the treasury market, 0.67%. i don't even know the come back. [laughter] tom keene is just talking about gigi hadeed having a child with zayn malik. tomvery good. seriously, the dollar moving in one direction today. stronger turkish lira right now off the central bank uncertainties. dxy, 94.78. how many people were wrong on the weak dollar call? jonathan: so many, but they thought when things hit the fan x time around, the dollar wouldn't get stronger. the dollar is still getting that haven flow. i think where people have been right, and this is important from a portfolio construction point of view, treasuries haven't provided you that offset . they really haven't done much at all for several weeks tom: this is important -- for several weeks. tom: this is important. you see the barclays headline, that they will stay in new york in their offices. but they move one direction out the door, don't say? lisa: we could keep going with the one direction. there's been one direction of late in gold. did you like that? tom: very good. jon ferro, lisa abramowicz, and tom keene. thrilled you are with us. now, i would suggest that this is the conve

tom: they get lonely. jonathan: they get lonely? tom: yeah. jonathan: they are just on the floor hanging out. tomthey are not on the floor, but they are hanging out. that's what you do. lisa: he's hoping somebody will throw a couple of dollars into the room to fill it up with cash. jonathan: i've got a video of tom singing happy birthday on a guitar. tom: i don't recall that. [laughter] mail, lives black on television. jonathan: he knows and got a lot of material. let's get to the price action this morning. ♪ that is our song. i put that out on twitter a little bit earlier. "africa" our song? i will never know. equity futures positive this morning. from new york and london, i have no idea what is going on sometimes on this program. maybe that is my fault more than his. lisa, sit out of it. lisa: i am. jonathan: this is bloomberg. ritika: with the first word news, i'm ritika gupta. senate majority leader mitch mcconnell says a new republican stimulus plan focuses on restoring supplement to job benefits and extending help to small business. the senate votes on the measure tomorrow. it will cost as

my counterpart of the northern district of illinois, tom. tomat in my office and worked together frequently on combating illegal trafficking of firearms across our common border between indiana and illinois. my colleague, justin, u.s. attorney in northern district of ohio, he's quarterbacking the department of justice is efforts. we are here today to discuss a critically important topic, violent crime in chicago. as attorney general barr has made clear the most basic responsibilities of government is to protect the pace safety of our citizens. for those of us in law enforcement, our top priority is to keep people safe. for much of this year, chicago and many other cities have experienced significant, unacceptable and in many instances, staggering spikes in homicides, shootings and other violent crime. in response, the attorney general launched operation legend. a systematic and coordinated law enforcement initiative in which federal law enforcement agencies work with state and local law enforcement departments to fight crime. in chicago, we are

tom tillis, tom, thank you very much. [applause] president trump:: and some warriors there in congress and they're tough and they're smart. representatives david rouser, ted bud and dan bishop. thank you, fellas. they are tough. but you're not as tough as these guys, i'll tell you right now, right? [laughter] you're not as tough as them. there is no better place to mark this profound world war in wilmington, north carolina. the people of this city and this state and it's an incredible state and i want to thank you for being so nice to me. you've been very nice. very, very nice every time we've asked for something. but i've been nice to you also, i have to say that. but you made the extraordinary contributions to the war effort. that's north carolina made this extraordinary contribution in so many. nearly two million servicemen trained for combat in north carolina. more than any other state. wow. that's pretty good, isn't it, huh? who would know that? two million trained. more than any state. [applause] president trump:: over 360,000 service members from your state fought in the second world war. they battle ned clips of normandy, over the coast of cav and in the deep wieters the pacific. over 11,000 north carolina patriots fought the enemy until their very last breath. you know what that means, right? think of that, 11,000. thank you. and we have family members here, by the way, that's them saying hello. in wilmington, more than 20,000 workers of the north carolina ship building company pored out every ounce of their strength to build an astonishing 243 ships for the u.s. navy. and it was the citizens of ilmington who came together to save the priceless arc fact of the glorious battleship behind me, the u.s.s. north carolina and that is some powerful and beautiful ship by coming in on -- coming in, we got plenty of televisions on airforce one and they showed it in primetime in the 1940's. and they showed that ship and i'll tell you. i shouldn't say this they don't make them that way anymore. what a beautiful ship. during world war ii, this magnificent ship participated in many major naval offenses and in the pacific theater itself, including the marshall islands. iwo jima and okinawa, earning more battle scars than any other battleship. we're learning a lot today, right? that's pretty good. why are you clapping? you come from west virginia, huh? he loves west virginia. so do i. right? but we're clapping anyway. you better believe it. thank you. after the war, the people of wilmington organized a massive campaign to save this beautiful ship there the scrap yard. they preserved it ads memorial toll the american sailor, a monument to the american workers that built it and an enduring symbol of american greatness now more than 200,000 people visit the site each year to learn the history and the heroism that defines our nation. this afternoon, my administration is formerly recognizing the city's exceptional contributions to victory in the second world war. it is my tremendous honor to officially designate wilmington, north carolina, as our nation's very first world war ii heritage city. that's a big deal. our nation's very first. wilmington, congratulations to you all. [applause] and god is saluting you up there, i tell you. we may have to go a little quicker than i thought, right? with this designation, we proudly declare that in america, we don't tear down the past, we celebrate our heroes. we cherish our heritage. we preserve our history. and we build the future. this mighty vessel and this magnificent town will forever tell that story with this designation. so i want to just congratulate north carolina and wilmington. that's a fantastic, a fantastic thing. [applause] president trump:: i want to thank senator tillis and congressman browser. stand up, please. in between the lightning bolts, for their work today make this day possible. thank you, tomthank you, fellas frlt great jock. and let me thank wilbur jones who has championed the cause of world war ii heritage cities, wilbur, thank you. [applause] thank you, wilbur. great job. great job. so wilbur, you know a lot of people wanted this, right? so you are just a tough cookie. you got it. number one. number one in the nation. i want to thank wilbur. that's great. i also want to recognize the heroes who saved american freedom. and i've known some of them since i've been in office. i've seen them. and there they are. here today is my good friend who i just left and he was in the oval office with me at the white house. woody williams. 75 years ago, woody showed fearless courage as a marine in the battle of iwo jima. you are amazing. [applause] president trump:: i promise them is would not tell that he's 97 years old. i promise. 'll tell you, he's 100% sharp. he's 100% sharp. i know a 78-year-old that's not so sharp and he's 97. and he's 100%. this has nothing to do with that. 78's

tom. >> knock on wood. lou: or whatever it takes or just -- i think i'll add a couple of prayers to it as well. thanks so much, tom. tomn, judicial watch. >>> coming up next, christopher wray caught lying again, slapped down by the trump administration. we take it up with congressman andy biggs, the chair of the freedom caucus. >>> and you can buy few new book, now that has a ring to it, doesn't it? "the trump century: how our president changed the course of history forever," available now at loudobbsshop.com, loudobbsshop.com. for all american patriots, republicans, democrats and independents. and anyone who orders between now and next friday entered to win an autographed copy of my new book. we'll announce the winner on next friday's show. stay with us, we'll be right back while you quickly go over to loudobbsshop.com. we'll be right back. ♪ ♪ this is the feeling of total protection now that we protect your identity, mobile phone, auto, home and life you've never been in better hands allstate click or call for a quote today than rheumatoid arthritis. when considering another treatment, ask about xeljanz... a pill for

tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. jonathan ferro, lisa abramowicz, and tom keene. a spirited wednesday on "bloomberg surveillance." ,ood morning on bloomberg radio good morning on bloomberg television as well. interesting markets as well. we will talk about the market in a moment, whether you need to climb back on board. let's get right to the yields right now. yields a little bit higher here. that has proven to be lower prices, stronger yield just in the last hour. jonathan: yields up about a basis point on the 10 year, but yields have been all over the place. they haven't really gone anywhere in the last week. we've been in and around 70 basis points on the 10 year, and that is about where we are this morning. tom: we got a -- we've got to touch on tiffany. i know you've wondered over in london, and you need the tiffany china mugs for 200 pounds large. but they are not going to do it with lvmh. jonathan: i will take a pass on that. i will be spending less time there, that's for sure. the reason they are giving and the reason people are suggesting is around tariffs

tom brooks he's the dean of durham university law school tom welcome back ok this is really complicated let's just take me through an idiot's guide i'm the idiot why is what the government is proposing in london going to breach international law. you know the it all is one of probably back the reason why this would breach international law is because government says it has agreed to a pact of an international treaty with the european union that there would be a different customs arrangement in northern ireland than the rest of you k. and that was because the british government wanted to have an open border or trade in peru people across in the island of ireland and so northern ireland was to be treated in the internal market government is now. wanting to push the parliament now want you to prove who are actively breaks that deal and does not treaty northern ireland as being in a separate customs arrangement. ok now the e.u. is saying look the clock is ticking not on various contractual deadlines or trade deals the clock is ticking you've got 3 weeks to come up with something to pull some sort of bricks it rabbit out of a hat or you will face legal action from the european union presumably the european commission in real terms what would that legal action be. well that legal action could be fairly substantial there would be mostly around monetary issues in it one of the big thing that's happening right now is in order to have that retreat across the border with with the between the e.u. and a non e.u. member state there is no such a border anywhere else along the monkey you this be the only one with britain both sides agree the only possible ignore that arlen was really part of the same regulations that they have the same standards the same rules apply otherwise you have to check you know what was being moved across the border terms of livestock goods services to ensure that one side wasn't kind of plotting the regulations of the other and so kind of legal action we'd be looking at this potentially willing to put in an actual who are in mixes central clients stopping the movement of goods or services into the republic of ireland and send them causing further economic damage to the u.k. ok when boris johnson got back into number 10 mid december last year his calling card was let's get bricks it done so fast forward to where we are today he seems to be trying to hammer a square peg into a round hole can he do that without breaking the law all being in breach of old those treaties that all the e.u. countries signed up to that kind of constitute what the european union is a boat and if you try is it therefore risk that legal action from the commission that you're talking about. frankly i think that horse johnson hasn't had a whole lot of imagination about any this mission from the start it seemed to be very much a having his cake and eating it strategy that there was no big idea other then he seemed to genuinely think the u.k. was just so incredibly important to the european union that they would just let britain leave and trey you know leave the club have no fee to pay no membership fee as part of the european union could go its own sweet way and have to tear the trade in the european union what are we just back down and we just allow that and it hasn't been one of the problems that the prime minister has himself been right now in particular is that it is exactly what he said he went to the public he said that skeptics it he said he hasn't already deal if he got a majority he was going to pass this withdrawal agreement in the what's called the northern ireland protocol is going to get put into law he told the public this was a great deal it was the best deal who's going to make everything happen and the country would be out and with that deal by the end of the next calendar year now we're looking at increasingly likely no deal at all he said what he asked the people to vote for him and any governor george over was actually bad and not in the british interest or he didn't seem to recognise the restrictions it imposes he's trying to kind of get out of this dealy told people i think he's not going to be able to put the square peg in a round hole as you say i mean this is i think this is affectively the prime minister realizing he's not going to get the kind of deal he thought he was going to get with the e.u. britain is not going to be better off at least not in the short term with the you in terms of the trade deal and he's trying to pin put some blame on the e.u. so in doing this kind of strategy he's making all. we are trying to preserve britain's interests putting the country 1st and the integrity of our internal market this kind of stuff this is all effort political that her may be trying to pin some blame on the e.u. the e.u. says britain things get messy that somehow the e.u. is the one who walked away and not him even though he's a well played into law this kind of crazy logic of choosing to kind of break the law in it political points is something that's been happening a lot in this. hole where the government has lost one case after the other in the u.k. supreme court and i'm pretty certain they will lose this one as well ok a losing battle legally but it's to score political points and this and save some political ok that's great tom thank you so much always a pleasure tom tom brooks the dean of durham university's law school in the u.k. . now to sudan thousands of people who lost everything to the flooding there calling for more help aid did start to arrive over the weekend but it has not been enough at least 100 people were killed and thousands of homes are submerged the nile river rose to a record level but now as waters are receding there is a growing threat of water borne diseases some of that though as this report from one of sudan's worst affected cities. we're in on durham and right on the banks of the nile which has been. you know a lifeline for the people of sudan but in the past few weeks has caused much diverse nation to the people of this country as he said hundreds of thousands of people have been declared homeless after their homes were either damaged or destroyed by the region floods that have been caused by torrential rainfall as well as the river banking its busting its banks. what we have seen a

tom. oh! tom, you need a little tom time. a little tt. stop living with at&t.finity delivers gig speeds to more homes than anyone. >> covid since the outbreak has taken more than 100 years -- here is the wise -- i mean think about it. judge jeanine: did that make sense to you? dan bongino, host of the dan bongino show. that was this week. that was in pittsburgh this week. now all of a sudden joe biden after the president was in kenosha decided to go to kenosha. do you think this guy will make it through the campaign now that he's not hiding in the bunker anymore. >> i don't speak biden. very few people do. i don't know what he was saying. if you read that in a trance script verbatim with the dot dot dots. i encourage you to translate what joe biden is saying. i don't think it's funny that he's cognitively impaired. but he's running for the presidency of the united states, is it a fair station to be able to relay a coherent thought? i was a secret service agent. i had to take a psychological evaluation. my guess is he's talking about how effective his covid stra

tom? did you mute lisa? [laughter] that timing was perfect. tom: it's mute lisa -- let's mute lisa. tom: can i just state, everybody in the control room is working. dayink they did in 18 hour yesterday, kailey leinz. combinedooking at a total of sleep in the control room of about four and a half hours. jonathan: i am pleased to say, joining us now, lisa shalett, morgan stanley cio. great to catch up with you. you are calling this a policymakers correction. what is a policymakers correction? , it hasas we know really been the policymakers' he that haveforts allowed us to rebound and by septembereven 2, hit new, fresh all-time highs on the s&p 500. but i think it also sets the bar many investors expect them to continue to follow through. september, days of it became very clear that some of the gifts we were given in march, april and may were perhaps going to be a little tougher to procure. that is really around the certainty of what policy is. we've talked about three things. wetalked about the fact that are, quite frankly, shocked that the market isn't more tumultuous given what looks li

tom east tom seaver has died at the age of 75 from complications of dementia and lyme disease seaver was a 12 time all-star and won 300 in 11 games during his 20 year career with the mets reds white sox and red sox tom terrific is best remembered as a met with whom he won all 3 of his national league cy young awards and helped lead new york to their miracle world series title in 1969 may he rest in peace. the niners have been dealing with a number of injury issues throughout camp and now practice, but good news today, how shanahan said he expects to have deebo samuel brandon aiyuk the ford and nick bosa all back by week one george kittle and re going green law were also on track as well one think all shanahan is concerned with is playing in an empty stadium, how will that affect play calling was sounds be like it's still an unknown that he must prepare his team for so trying to figure out the noise. >>we went in there. couple practices ago to try to figure it out and we need more work at that you know if there's a few things experiment and the rules are an official yet either so our experiment with a few things and hopefully we'll get that solidified this week. >>the raiders plugging along and subur

tom: david, tom keene in new york. good morning. a seismic change -- none of us have framed out to march of 2021 x vaccine.andemic how does that change your portfolio management to know that we have challenged these economies without fiscal stimulus out to march of next year. david: good question, tom. what it has done in terms of our thinking, something we have been debating a lot, that at what point do you start moving more decisively into what is a , --alled reopening trend reopening trade? a so-called normality trade? transport, airlines, leisure, gaming, hospitality, hotels, etc. -- which actually have not really -- actually they have obviously lagged with the broader markets that we have seen, and potentially there is a lot of value to be had if we get a return, the normality post pandemic. and what yesterday's announcement reinforced by the british government, but i think will become more widely recognized across the northern hemisphere as we go into winter, is that is not happening anytime soon. that is at least another six month away, so it is too early to go into that reopening trade. so that means we are staying with the things that we like, each means more defensive, higher quality -- which means more defensive, higher quality. you bringing in duration bonds? it is fasc

tom wickam. tom has helped so many people on our side of the aisle and now as the other side has taken the majority, you've got to witness firsthand what i learned from tom and the great people who work in the house parliamentary office during my six years in the majority and being able to be up in that chair working directly with him. tom's somebody who i think everybody got to know very well. as someone who is actually very fair at administering the rules of this house. but i always enjoyed most walking by his office and harassing him if his favorite baseball team wasn't doing that well. or if his favorite college football team may have lost to one of the others in the big ten. but an institution like the house of representatives, it will move on from all of us who are here now. but this one's a hard one to replace. tom wickam, thanks for your service. i wish the best to jason smith, your successor. i yield back. the speaker pro tempore: the gentleman yields back. the chair says amen. and the chair recognizes the gentlewoman from michigan, ms. stevens. ms. stevens: thank you, mr. speaker. i rise today to recognize the incredible efforts of the families

tom. oh! tom, you need a little tom time. a little tt. stop living with at&t. xfinity delivers gig speeds to more homes than anyone. >>> you're looking at live pictures now from beirut as rescuers dig through rubble with renewed hopes of finding a survivor. signs of life were detected thursday, a month after the blast. you're seeing the pictures there as they're standing around where they suspect the people are. we're going to turn to cnn's sam kiley who's tracking developments from abu dhabi. sam, i understand they're very close now to the position where they've detected the victims. what's the latest? >> reporter: well, according to the beirut civil defense administration speaking to cnn on the ground there, he says that they're less half a meter, that's 18 inches from what they suspect is some kind of source of heat and detectible breathing from a living creature. now this is all hope, of course, of this being a survivor of this gigantic blast that ripped across beirut 30 days ago, kim. it would be a staggering story of survival if somebody were to emerge fr

tom lisa, jonathan ferro, and abramowicz. tom: bloomberg radio, bloomberg television. good morning. "bloomberg surveillance." jon took me off the ledge over tonight.ts-arsenal for and then sunday evening, a bombshell from "the new york times." jonathan: i never thought we would start an hour with english football, but we seem to do that now. i don't want this to be the story, but let's talk about whether it is real or not. i understand it is an important story. i understand it is sensitive for many people in america. but far too often, there has been a highlight reel of news anchors sitting there saying the word "bombshell," and it has done nothing for the polling of the president of the united states. are you convinced this will? tom: not at all, and kevin cirilli making clear it wouldn't