alix: i love that.rticular because apparently it is possible iran will start violating the nuclear accord today. oil prices had the biggest move in two months yesterday. new sanctions on iran from the u.s. how that plays out will be an interesting question for the market. marc: i think so. the interesting story with the iranians is the chinese seem to be solidifying a long-term agreement to develop their energy. alix: the u.s. might not feel good about that. i love hanging out with you for the hour. marc chandler of bannockburn. coming up on the open, lale topcuoglu. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an elig

i'm alix steel. in the markets, we are still 0.1%, equity futures rise a stones throw away from record highs. in another assets, it is defense. how long can it sustain that level? yields down three basis points. time now for the global exchange. we are going to bring you today's market moving news from around the world. joining us from hong kong is yvonne man, from london, emma chandra, from washington, kevin cirilli, and michael mckee joins us in new york. in hong kong, chief executive carrie lam will hold her first public dialogue in response. to the protests yvonne man is response to-- in the protests. yvonne man is outside the venue. what can we expect? about several hundred ,eople are out here, chanting "not one less," referring to the five demands protesters have. could bring some pictures of what it is looking like right now, about 150 people chosen from 20,000 applicants in the public to take part in this dialogue, the first is the public and with the government, a town hall style with the go

alix: this is "bloomberg daybreak." i am alix steel.from the latest read initial jobless claims. a little bit of movement upwards in europe. in other asset classes, still digesting the central bank moves. the hawkish cut yesterday. norway raising rates. the boj saying they will discuss different policy cuts at their next meeting. money coming into the bond market in the u.s., selling in europe. the per steepened just attached to three basis points. initial jobless claims coming in at 208,000, right in line with estimates we have seen. the philly fed business index coming in stronger than estimated, yet sequentially we are down. coming in at 12, we expected 10. softness, but holding up. current account balance widens attached versus expectations, down negative 128 billion dollars -- trillion dollars. still with me is lale topcuoglu and peter fisher. when i talk about the jobless claims, every time i break them i say it still seems like a stronger job market. is that narrative still true? peter: i think when we ignore the noise, which we

i'm alix steel -- this tuesday, september 24. i'm alix steel. the highlight in the last hour has to be what is happening in the u.k. a truly tremendous time for the country. that currency up by 0.1%. other than that, will we had new record highs in the s&p, and what will lead that? is the bond rally running out of steam? crude taking a leg lower just in the last hour or so. can see global growth fears permeated throughout the market. time now for little exchange to bring you today's market moving news from all around the world. joining us from hong kong is bloomberg's enda curran, from k, and is seb sale bloomberg's david wehner is here in new york. we start with the latest trade of element. soy prices go nowhere even after the chinese government gave waivers to buy from u.s. companies without being hit by retaliatory tariffs. what is the significance? adds to thek it mood music that both sides are showing a bit of good will to get these talks make some progress. we are talking up to 3 million tons of soybeans that would be three of tariffs for

alix. alix: thank you very much.for dissipating and covering climate now, an initiative began by the school for climate change, and it gives attention to crucial subjects whose importance is only growing. 2019 is a crucial year for the climate crisis, and what is being done to tackle it? >> we are now facing a dramatic climate emergency. toare track for 2015 to 2019 be the five hottest years on record. >> the climate change risk is very predictable. we have a good models. it will happen with a certainty. >> we are killing our planet. ultimatelychange is an economic issue. >> i will put together a deal for europe in my first 100 days in office. public money will not be enough. alix: joining me now from london is bloomberg's emma chandra. emma? emma: thank you, alex. the accord calling this the global issue of our time, global the most abundant of those greenhouse gases in our atmosphere being co2, largely that product of burning fossil fuels, directly linked to the rising global temperatures and rising sea level. it s

alix: do you agree?th the larger premise around keeping your toes in a lot of places. a lot of investors are stuck on the all are nonmarket. by the fangs and chase the momentum. we know that reverse heart in the last month or so. being more broadly diversified is part of the messaging. it does make a lot of sense. it is part and parcel to how you manage risk, particularly when we are seeing uneven effects from trade policies and interest rates, uneven effects from sentiment. small caps underperforming large caps. that would seem opposite to what you would expect. business sentiment is good, rates are lower, small-cap companies have more leverage, yet they underperforming. this is about what is working in a training environment and who has the ability to keep their profit margins high. that is typically the big companies. david: thanks a much to christopher j. wolfe. do not forget to tune into bloomberg tv later today for an exclusive interview with morgan stanley ceo. that is at 2:30 this afternoon. comi

this is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. a few seconds on this fed day. nothing happening in the markets. soggy trading in the u.s. equity markets. european autos able to hold out against despite terrible numbers for august. in other assets it is higher yields -- lower yields and a higher dollar. buying bonds and selling the dollar. not a lot of movement before the fed. housing starts out just now. permits coming in month by month in august, up 7.7%. housing starts also coming in strong, 12.3%. july revised less bad, just down 1.5%. we shall -- we saw earlier mortgage applications were like. all of that feeding into the narrative of what will see for the fed. saira malike are and mark cabana. it is going to be about refinance, how much we see for the long end. mark: it is also what it means for the consumer. the data this morning suggests the housing market continues to be robust, consistent with the story we were discussing earlier. the consumer remains healthy. as long as that is the case you would expect the housing marke

alix? alix: thank you. neil is still with us.go, everyone thought it would be a great idea to buy central bonds. what do you do if you want to find growth but then you have these factors from merging market countries? >> i think you're not finding growth. you're finding income. that's what many bond investors have done and what we've learned in the last 12 months has been starting with argentina, then turkey, then south africa. they are increasing as you say risks. you have to be an investor. you have to follow things very carefully. if you look at oil at $60, that probably means that the oil sensitive emerging markets like russia are probably ok to invest in but you have to be very clear of where you think governments and policies is moving and to come back to something that david asked me earlier. that's where i would still back the prime minister and the rupee and the indian bonds. they will get their way. it's clearly a risky place to be and if the dollar strengthens 5% or 10%, maybe more riskoff or whatever, that makes the h

alix: u.s. antitrust regulators are discussing whether amazon is using its market power to hurt competition. emma chandra has more. emma: bloomberg learning that the ftc is interviewing small businesses that sell on amazon's marketplace, and some of those questions have included the extent or what percentage of revenue those small businesses derive from amazon's marketplace versus other online marketplaces what the one operated by the likes of walmart and ebay. what this suggests is the ftc is perhaps skeptical about them is on's claims that its suppliers have other alternatives. if a small is this derives a high portion of its revenue from amazon's marketplace, it makes it more vulnerable to changes in demand or changes in policy from the e-commerce giant. the ftc really confirms or denies if it is investigating a particular company, but the chairman did tell bloomberg last month it was interested in hearing from third-party sellers on the marketplace that amazon runs. amazon not commenting at

alix: exactly. point. 1%t stockstill popping over in the pre--- that stock still popping over 1% in the premarket. coming up, we are going to have your first take, your trade and analysis for all of the market moving news. this is bloomberg. ♪ ♪ alix: welcome now to bloomberg first take. we are joined by our in-house experts and wall street veterans. rachel evans and vincent , and amy wu silverman joins us from rbc capital markets, managing director and equity derivatives strategist. what happens when your anchor doesn't have a prompter, that's what happens. we were going to start off with impeachment, but i want to very quickly talk about oil. the news was that you had dow jones saying that saudi could do a partial cease-fire in yemen. oil drops like a stone. vincent, what are they talking about? vincent: we had the houthis earlier this week basically say they were going to cease-fire. everything is calling down in the region. the calm is probably being pushed by the united states. alix: but they j

alix: thank you so much. other thing we are watching is former new york fed president bill dudley responding to his response in a bloomberg op-ed last week, where he talked a lot about the relationship between politics and the fed. he said, "i was adjusting the fed pushback, that it might be able to achieve a better economic outcome. i was nuts adjusting the fed should do so regardless of the upcoming election. i was not trying to suggest that the fed should take sides in the upcoming election." david: he tries to draw a line potential.wing that alix: how do you say your actions will cause this to happen in the economy, therefore, we must react in this way, but we are not trying to choose sides in this election? david: but he did not back down over what he said initially. politicalt has consequences, and those affect the economy, and you have to take that into account. alix: i don't know if you can separate central banks from politics and a nor -- pump from politics anymore. coming up, we discuss opportunitie

this is bloomberg. ♪ mberg. ♪ alix: this is "bloomberg daybreak." i am alix steel.quarter. congratulations. s&p futures trying to eke out again. our performers in europe -- credit suisse in the spotlight. who might they fire on this buying scandal. in other asset classes, strong dollar story in the g10 space. cable losing steam but still trying to be positive. the curve was deeper but now we are flatter. selling on the margins. crude off over 1%. if there is no military war between iran and saudi arabia, what kind of political risks do you want to train out of the market. the question becomes how do you counsel for risk? rupal bhansali writes in her new book there is another reason to invest in equities. it is your invitation to a seat at the table to celebrate innovation and a struggle to overcome challenges and the ingenuity to solve problems. rupal bhansali and liz young are still with me. you also talk about equities like children. you hate them short-term but you love them for the long term. walk me through your overall thesis when it comes to equities. rupal:

alix: thanks so much. we now turn to saudi arabia, where over the weekend, the king appointed a new energy minister. said notnergy minister to expect any changes. >> i'm not expecting to have changes. i think with the personality i know, he is very decisive. he has a strong personality when it comes to the market. our: for more's correspondent joins us in abu dhabi. give us the latest on the ground. come fromi've just where the new saudi oil minister spoke to us. he spoke to us twice. he said at the start of presentation, "i can be very spontaneous. i can be the elephant in the room." he quoted british sitcoms. his message, when i asked him what he means by spontaneous, he said, "i am going to be forthright. that is what i'm going to bring to the debate at opec." he is the new central banker of oil. he's the new man in charge of saudi arabia's oil voice within opec. we scrummed again and i asked him about the risk of recession. he said, and i am paraphrasing, going to come to a deal. they will do a deal. w

alix: fair point.cs bond that would not necessarily be so we will its debt, watch out for that. richard jones, thank you for that. katie koch of goldman sachs asset management still with me. he talked about transitioning for a climate neutral world, how else do you plan the scene? katie: this is the number one thing that clients want to talk to us about over the world, how to get better positioned for it. fundamental investors are trying buyo three simple things, great businesses, not overpay for them, and engage aggressively to unlock shareholder value. the way we look at the world, we are really invested in climate-friendly companies, because those are sustainable companies. we had up having a fully integrated bull esg process and be a fully integrated toward renewable and sustainable companies, as i said, very underweight legacy acts. alix: what you do with automakers? they will obviously be beneficiaries in some ways of new subsidies, but at the meantime, they will be selling cars at a loss. they w

alix:. about -- alix: thank you very much. about 200 world leaders will be gathering in new york for the u.n. general assembly. iran tensions will be high on the agenda. >> i am not confident that we can avoid a war. i am confident that we will not start one. i am confident that whoever starts one will not be the one who finishes it. alix: president trump will be speaking tomorrow as well. newburgh's bill -- bloomberg's bill faries joins us on the phone. what is going to be the behind-the-scenes conversation when it comes to iran? bill: we know president trump has said he's not close to the door -- he's not close the door to meeting with president rouhani of iran. it will be difficult to pull off, but on the sidelines, we know that people like emmanuel macron of france and some of the other european leaders are going to be working to try and bring both sides together. we've had a slight easing of tension very much on the margins today, but iran did release that british tanker it had been holding for several weeks. that will he

arts't they fine -- alix: aren't they- alix: fine?o make more money. banks cannot buy back stock, but that is not the problem with european stocks, buyback. areli: you are saying why we still talking about folklore? -- about folklore -- about the volcker rule? we are in a spot where the u.s. is getting wider and europe is getting tighter. chris: that is true, but the other reason is the european banks have not cleaned up their problems properly. if you look at the chart of european banks, it is bouncing off a 40 year lows. alix: our third story is bill gates and where he winds up investing. here is what he had to say in an interview a few weeks ago. defensivenot in some posture where we are in cash or anything like that. investments is to be over 60% in equities. top? is that the sonali: there are a lot of billionaires. bill gates, warren buffett. these are people that can also pay millions of dollars to people moving to family offices instead of hedge funds and other asset management and can discern what they want to bet on within th

alix: that's no fun.ust to wrap that up in terms of positioning, where exactly are we after the shakeout in the bond market, as well as the currency market? romaine: you so that pause in the bond selloff. today, the expectations are that the bond selloff was a little bit of an anomaly. a lot of folks are really just waiting to see what we get out of draghi today, and presumably what we get out of fed and the boj next week. that is probably going to end up with a perception in the bond rally that we've pretty much had all year long. david: does that depend on what trade? with we also have some nice words back and forth between washington and beijing right now. michael: that's longer-term. markets react a little to the headlines on trade each day. there's optimism they will get to a deal, and the imperative is moving in that direction politically for both sides, but what we may see is a smaller deal focused on the bilateral trade deals if china agrees to buy more stuff and trump lists dissensions on huawei

alix: thank you very much. coming up, we are going to have more on your morning trade and analysis in the markets in today's first take. this is bloomberg. ♪ david: time now for our bloomberg first take. this morning we are focusing on the u.s. august jobs report, out at 8:30 this morning eastern time, fed powell -- fed chair , andl's speech in zurich more. with us now are carl riccadonna and constance hunter, kpmg chief economist. carl, let's start with you. carl: there's a risk that the big spike in workers for the census could lead to a misleading sense of what is happening in the economy, so to get a cleaner read of what is happening, i would look to x census payrolls, which may not be immediately evident. i would focus on private payrolls to get a sense of what is happening. we are above consensus on the headline print because of census workers. however, on private payrolls, we , whichker than consensus is about 150,000. seen an increase in defensive posturing among businesses, especially on the capital fr

alix: what is so interesting his career. how was that.d get together and talk about your businesses, what did you notice about the transitions and how he thought of energy? about all ofed those things and it always came back to oil. i think that was his true belief. he got involved in wind and renewables and a lot of other things as well. i do not think he saw coming what happened with the horizontal drilling. the abundance it created with natural gas, crude oil, and all of the fossil fuels. he was a little bit ahead of his time in predicting we should be on renewables and wind and all of that kind of stuff. alix: when he was talking a lot about peak oil and fracking change that conversation. i feel like that was exemplified reported u.s. ia asd udi arabia in oil production in june. is that going to be the future or should you and i be talking about wind and solar more seriously? harold: the abundance of energy that has come about in the u.s. thathorizontal drilling -- is the future. boone would agree with that. he came around quickly. or

alix: i am still quite skeptical. president has made it clear he is not interested in a photo op with the president, referring to kim jong-un and donald trump. you also have the foreign minister saying it was unimaginable they would wind up meeting. i ran has had a hard line that sanctions have to come off for them to meet. if the report we are getting is full sanctions, if we rollback all the sanctions, to me that would be a huge catalyst and probably bring rouhani to the table and help him save a lot of face and look good in iran as well. sorry, i lost my mic. very skeptical that would actually happen. vonnie: you could say we are already getting something more than a photo opportunity. if a departure from the white house counts for anything, then we would definitely see what john bolton now no longer the bolton now no longer the national advisor. alix: mike pompeo has also been something of a hardliner. he did not want war, he has taken war off the table, but he has also been an advocate of not having their short-t

alix: it has not been pretty. spoke to the energy minister and he said all many to do is mess it up, and they messed it up. ri got crashed in the primaries, and he instituted an oil price freeze. producers were making 23% less per barrel when they produced. now they are making 70% less, a little bit of a subsidy, but that is a huge problem. swaps,looking at bond different ways to offset that. ista, the company i profile, is suing the government. there were also some policy that don't make sense, like an export tax. refiners have to approve each company to allow them to export oil. things that don't make the market efficient. that hampers growth. amanda: we may see capital flowing somewhere else. where else are there opportunities? it feels like the capital from big oil companies will still be sticky in argentina. the political situation is dicey but the situation is still good. i also looked at brazil. huge potential, but they have had that for decades. it has always been the next big oil play, but it always ends

joined by alix steel with us in new york. we talked about whether john bolton might indicate some weakening of the position with iran. does this make you think it is any more likely? alix: there are two potential scenarios i can outline. one is a complete rollback of sanctions, which would add between 1 million and 2 million barrels of oil a day. rbc said just the fact that bolton was gone could add 7000 barrels of oil a day to the market. there is also another prong, which is the u.s. had granted waivers to many countries like india and china and south korea to enable them to buy iranian oil. those waivers went away. those countries had to diversify. those waivers might be given. that could be a potential rollback but not a full rollback. nick inet's turn to washington. how likely is it the president might be changing his position on iran? is whate big question the president's position was in the first place. he has always wanted a meeting with the iranian president because that plays into his brand of personal diplomacy and

alix: saudi aramco is said to pick as many as nine banks for lead ipo rules. bank of america, j.p. morgan, goldman sachs, and credit suisse. do you have an idea of timing for the saudi aramco ipo? >> they have tried to accelerate this process but it is important to know that there will be a listing in riyadh only. the international part of the ipo, it isn't clear when that will happen, but it seems that the saudi government are determined to get the local part done this year or early next year. shares debuting in amsterdam. the new creative group includes assets from south africa, 31% stake in tencent. the firm is the netherlands' third largest listed company. >> the main focus of the process is the next wave of growth. we have become a really substantial part of the original exchange, the johannesburg stock exchange where we are close to exchange.he as a company, we are still growing fast the organic growth rate is in the 30% range which means we will keep growing and we need the right place to keep growing. >> the ipo of ab invev's asia unit is back on just

alix: they don't. if you going to the opec meeting on thursday, if there was any sort of negotiation between the u.s. and iran, it would be difficult for the market to absorb 1.5 million barrels of oil a day. it would be near impossible and it would make sally's job -- it would make saudi's job much more difficult. already exemptions because of geopolitical issues, so where with the supply even go? that would mean you would have to pick up demand, something the saudi's cannot do. david: president trump has had a close relationship with the kingdom. one thing they have not agreed on is the price of oil. trump has tweeted again and again he wants it low. opening things with iran might keep it low. how they reconcile that? alix: i do not think president trump wants to talk to iran. i think he wants to hurt the economy and drive them to the table. if iran will dig in their heels and you have europe trying these workarounds, president macron of france saying we might do a $15 million line of credit, we will

alix: mexico, venezuela -- these were the powerhouses of latin american oil production. source of wealth, prosperity and competition. now, venezuela is in crisis. >> it is a failed state, as you can see from the oil production numbers. alix: and mexico is too hard to invest in. >> you started to see a lot of these steep declines starting to take form in mexico. alix: now it is up to the next generation of oil countries -- colombia, guyana, brazil and argentina, to transform latin america into a production powerhouse. >> the most rapid growth is going to be in brazil. >> i have been in colombia almost 37 years

alix steel dies deep -- alix steel dives.enezuela is in crisis, and mexico is too hard to invest in. >> you see these declines starting to take form in my scope. alix: now it is up to the next generation of oil countries to transform latin america into a production powerhouse. >> the most rapid growth is going to be in brazil. for 37e been in colombia years. it is the most underexplored country in south america. >> the third region that stands out is guyana. is a hugeerta opportunity in argentina. >> you want to be involved in the vaca muerta. it is the most important place of the future. alix: will they be toppled once again by political strife and unrest? nexte: tune in for "oil's big boom" at 9:00 p.m. eastern. this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're her

alix: mexico, venezuela, these were the powerhouses of latin american oil production.ource of wealth, prosperity , and competition. now, venezuela is in crisis. >> it is a failed state. and you can see it in its oil production numbers. alix: and mexico is too hard to invest in. >> you see a lot of these declines are starting to take form in mexico. alix: now it is up to the next generation of oil countries, colombia, guyana, brazil and argentina, to transform latin america into a production powerhouse.

alix steel.o "commodities edge," 30 minutes focused on the companies, the physical assets, and the trading behind the hottest commodities with the smartest vo

alix: i'm alix steel. welcome to commodities

alix: i am interested that they want more foreign money coming in.ig a player is foreign investment relative to the domestic spend at the moment? shery ahn: not great. we are talking about a $13 trillion bond market for china, $6.9 trillion equity market. right now foreign investors holding $280 billion of chinese bonds, $225 million of stocks. not much really. hadthing is they disqualified for right institutional investment framework in place, but they have very high expenses, not to mention regulations make it hard for foreign investors to repatriate money. all of this really not working in favor of china, so they are doing all they can to attract foreign capital. this week we have the fourth belt and road summit in hong kong, at a crucial time when we are seeing 15 straight weeks of protests in hong kong. alix: i know you are going to be across the belt and road conference. don't miss daybreak australia and daybreak asia starting at 6:00 p.m. eastern. for thetonight conversation with the asian financial holdings president and senior advisor to car

"oil's next big boom. " alix steel is here to talk about it.id: it is a terrific thing. tell us about it. thesis is latin america has so much amazing resources but they cannot seem to get their act together to capitalize on their resources. part of the reason is politics. i went to oil because that is my jam and i went down to argentina , where the shale oil fields are in argentina and i got a look at an independent company named vista operating their. i talked to them about the potential and then the primaries happen in august and the shift and what that has done to potential growth. david: there is no way to know the answer. to what extent have those primaries changed what could happen? alix: it could be really significant. wipe is a state owned oil company. some analysts estimate you need $20 billion to develop the region. they are spending -- they had to cut it. now they are spending $2 billion to $3 billion because of the oil tax freeze, where they can sell the oil for x amount. david: one of the problems has been that in success you bring

alix: mexico, venezuela -- these were the powerhouses of latin american oil production. prosperity, and competition. now, venezuela is in crisis. >> it is a failed state, as you can see from the oil production numbers. alix: and mexico is too hard to invest in. >> you started to see a lot of these steep declines starting to take form in mexico. alix: now it is up to the next generation of oil countries, colombia, guyana, brazil, and argentina, to transform latin america into a production powerhouse. >> the most rapid growth is going to be in brazil.

i'm good have to get this one to alix, because i want some of her wine. >> i will share that with youil forget, you can join alix steel for commodities edge coming up in an hour at 1:00 eastern and 6:00 in london. coming up, balance of power with david westin. on theget a quick check markets, the dow jones industrial all of the u.s. indices are higher today, rallying a little bit following that fed meeting. volatility is subdued. this is bloomberg. ♪ david: welcome to balance of power, where the world of politics meets the world of business. kevin cirilli from capitol hill has an increasing more words between united states and iran, and the continued review of suspending -- and david scanlan from toronto on new revelations about justin trudeau with a month to go to the election. let's start with kevin. we have exchange with the president saying i would like a peaceful solution but it may not happen with iran and we have the leader saying there may be full out war. cnn, theerview with iranian foreign minister said they were fully prepared to go to war with the united states if there we

prices trade at levels last seen in 2013 as global yields sink. ♪ alix: i'm alix steel.rg commodities edge," 30 minutes focused on the companies to physical assets focused on the trading behind the hottest commodities with the smartest voices in the business.

competitive market. ♪ alix: i'm alix steel.mberg commodities edge." 30 minutes focused on the companies, phyl

alix: mexico, venezuela, these were the powerhouses of latin american oil production.alth, prosperity and competition. now, venezuela is in crisis. >> it is a failed state. as you can see from the oil production numbers. alix: and mexico is too hard to invest in. >> you see a lot of these declines are starting to take form in mexico. alix: now it is up to the next generation of oil countries, columbia, guyana, brazil and argentina, to transform latin america into a production powerhouse. >> the most rapid growth is going to be in brazil. >> i have been in columbia

: i'm alix steel.g us "commodities edge." first, we kick it off with spot on, our take on the big story.

i am alix steel.mberg's "commodities edge," 30 minutes focused on the trading behind the hottest commodities with the

democratic candidates outlined their energy plans, the winners and losers. ♪ alix: i am alix steel. mi

alix: china now indicating it will not immediately retaliate against the latest round of tariffs. the ministry of commerce spokesman told reporters in beijing that the means for retaliation, but thanks the question is now about removing the new tariffs to prevent escalation of the trade war. >> with the commerce ministry said was they would not retaliate against america's retaliation against china's retaliation of last week. it can be spinning, but that is where we are. he also rolled out a request that existing tariffs be rolled back. that sounds like a tall order given the trajectory of these trade negotiations. he said also those talks may still go ahead in september. he did not confirm they would, but he said there is some background work going on in terms of trying to keep that on track. you could take it as a conciliatory message. on the other hand, he is making it clear china does have the option to strike back if it wants to. paul: president trump says the u.s. and china are going to renew trade calls, although he offered no timeline or other details. what can you tell us

i'm alix steel. welcome to "bloomberg: commodities edge."utes focused on the companies, the physical assets, and the trading behind the

i'm alix steel -- this tuesday, september 24. i'm alix steel. is happening in the u.k. a truly tremendous time for the country. that currency up by 0.1%. other than that, will we had new record highs in the s&p, and what will lead that? is the bond rally running out of steam? crude taking a leg lower just in the last hour or so.

sitting next to alix steel for for young -- four long years has been of the best jobs.. and finally to the team, it is as good a team as i have ever worked with anywhere, and the control room, the edit suite, graphics. they will take it forward and do things i would not have imagined and i will be watching with great enthusiasm. day does it for bloomberg open. jonathan ferro. from new york, this is bloomberg. ♪ --athan: amit new york city from new york city, the countdown to the open starts right now. i'm jonathan ferro. [bell ringing] ♪ jonathan: coming up, equity markets rally, bonds dropping. the u.s. retail space showing the american consumer continuing to support the broader economy and president draghi leaving pressure on the government to step up. here is your friday morning price action. they are up 6/10 of 1% and heading for a third straight week of gains. .he euro is stronger a move of more than 40 basis points. things will feel a whole lot better than they did three fridays ago. >>

alix steel is off today. lisa: it didn't focus on global bloombergere at the global business forum. will be speaking to pierre moscovici, european for economic and funny to affairs, andreas , allianz global investors ceo, and stephen badger, mars inc. chairman. lisa: deepening some of the concerns about trade come the s&p lower. crude dropping as well as saudi arabia seems it is getting production online faster than expected. the euro losing versus the dollar. the dollar strengthening despite concerns about turmoil amid the leadership in the u.s.. on-year yields going lower this risk off day. david: joining me now at the bloomberg global business forum is andreas utermann, allianz global investors ceo. it is good to have you here. i want to start with why we are here. it is the climate finance leadership initiative. explain to us what that is. andreas: it is an initiative that michael bloomberg, on behalf of the u.n., kicked off about a month ago. it brings together a significant number of affluent to private sector organizations with the aim of cooperating and coming up with soluti

. ♪ alix: canary in the job mine.id, while analysts worry about average work week. speak to one of the largest payroll managers. bonds take a big break after the biggest today rally in yields since 2009. and investment grade companies borrow $74 billion this week, the most in over 45 years. david: welcome to "bloomberg daybreak" on this friday, july 6 6,on this friday, september jobs day. we still have dorian coming up the coast. alix: it's been such a slow storm, yet the losses on a monetary basis might be less than what many had thought, which i thought was very interesting. david: you can see it ranked according to other storms in history. still 100 mile an hour winds, which is nothing to sneeze at, and they got a lot of rain. they are not through it yet, i'm

alix: he's talking about --ira: he's talking about the momentum, so basically if you took the last three months in isolation and annualized that. that was my point earlier in our discussion, was that the momentum on the wage site has been ok, even though job great.n hasn't been great. the some of that -- the sum of that is ok for the economy, and shows that things might be stabilizing somewhat. the consumer has really been the big heartbeat of the economy so far, with the manufacturing sector continuing to decline and being more of a problem for the economy than a help. vonnie: thank you. ira is bloomberg television's chief u.s. interest-rate strategist. guy: let's get more on the impact the global markets. we are joined now by caroline u.k. deputy cio. does the payroll number change anything for you? caroline: not a great deal. it was slightly weaker than what the market was expecting, but i think it is also a sign of the fact that unemployment is as low a sign of the- fact that when employment is as low as it is, job accretion will slow. i know it is a little bit of a help but it certa

. >> thank you, seth. , alix. he you guys took some pretty loaded questions.ing up, president trump calling for tougher sanctions as mike pompeo builds a case against tehran. ongoingdiscuss the tensions in the middle east. this is bloomberg. ♪ >> let's turn to saudi arabia. we spoke with the saudi finance minister and asked to the recent attacks have an impact on aramco numbers? >> we are back online. in terms of the economy and we use our reserves only for a couple of days before we are back online last night and today. >> meanwhile president trump says he wants tougher u.s. sanctions on iran. sanctions can we have? be much will it runs economy brought to its knees? >> it is hard to have a greater impact than what we have seen. the u.s. sanctions have severely limited iran's ability to sell oil on a legal market. on there companies tehran stock exchange can target. there are sections of the construction sector. there are additional sanctions you can put on iran's central bank that would make it very hard for them to even get humanitarian aid. this is an oil e