annmarie: i am sure he has.eting the obligations had amongst themselves, there were some pretty interesting words. a frequent bloomberg surveillance viewer apparently sent to matt gaetz, which is causing a lot of this -- i think we caught him the flamethrower in one of our stories. he told him to explicit word off. tom: and didn't understand that. can you help me? jonathan: yeah, you are to repeat? annmarie: i think you know what i mean. he will be on balance of power today. so you can find out. jonathan: i look forward to that. is this a choice between a shutdown or a new speaker? annmarie: potentially but also potentially both. the washington report saying there is a far right contingency to oust kevin mccarthy. we have known they have wanted to do this. it took him 15 rounds to get the gavel so this has always been lingering over his head throughout negotiations, whether or not it is a current one about fiscal spending and keeping the government open or a prior deal he struck with the senate and white house.

annmarie hordern joining us from the u.n. in new york.ng bloomberg technology, joining caroline hyde and ed ludlow. both are in new york. in terms of what's happening with markets, we are on hold. we are waiting and watching and clearly waiting to see what the fed will deliver for tomorrow. for today a little bit of a shock coming through in terms of the narrative around that canadian data. the other story we are watching, which the guys are covering up liver technology, the instacart ipo. we are looking forward to seeing how that one goes. this is bloomberg. ♪ ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. ¡se fue la luz! pero todavía tenemos wifi para hacer las tareas. ¿y eso es algo bueno? wifi y estudiar. buenísimo. wifi y pedir una pizza online sería buenísimo. presentamos storm ready wifi. solo de xfinity. ahora puedes mantener una conexión confiable durante apagones

joining us is annmarie hordern. there is a few moving pieces when it comes to the potential for a shutdown. it does look like we will see one. our analysts say likely at least a 48-our shutdown over the weekend. we do know that the senate when they come back we'll have a plan to vote on the authorization of the faa bill. that could be a bill for a stopgap spending measure. this would take us four to six weeks passed october 1 when we run out of government spending money. it remains to be seen whether ukraine aid is attached to that. that would cause problems with republicans, but if this bill was to get true, we are seeing in a bipartisan manner some negotiations in the senate. but in the house, what does kevin mccarthy do? if the builder to come from the senate, does he put it on the floor? members of the hard right have said he would -- they would oust him, but potentially he has covered because there are members of the republican party, or centrist, who if they do not do that, they can get to the speaker to keep

annmarie: i doubt it.transition to the green agenda where workers are the first one to gets those jobs. you will not want to touch this industrial policy. tom: a terrific monday brief. hopefully she will be here for the tuesday brief. the news flow extraordinary. i love your insight about the uaw strike or government shutdown, project lead of a shutdown is presumed to be eight days a week and everybody gets paid at the end of it. we were pretending. if uaw is long like the hollywood strike, that is may be more important. lisa: especially because you have posturing from president biden and former president trump in michigan trying to get that vote at a time where it is unclear where the allegiance lies. tom: if the encyclopedia. an expert at bloomberg on all of this. the election is only 10 states, nine states? lisa: the swing states. this is one of them. annmarie was talking about how a lot of people great biden negatively with the economy and it comes down to inflation. costs are going up in a notable way

annmarie: that's a great question.s to come in and it will be the prayer, the pledge and the motion to vacate, meaning he is looking to potentially ouster speaker mccarthy from the job. he gave this fiery hot floor speech yesterday saying kevin mccarthy is not in line and doing the job he was elected by those members to do, which is potentially why you see everybody -- mccarthy going to the podium and without house floor vote which he indicated he would take this to the floor first. he just launched an impeachment probe in the president biden. tom: there's a ways to go. we don't need a civics lesson on boehner of ohio down in flames getting democratic votes to get things done as the republican speaker the house. cut to the chase. how big is this group of republicans? is there a dearth of republicans in name only in the house? annmarie: the issue is that every single one of them wants something different. a member of the house freedom caucus, which many would say these are hard right members of the conservative republic

annmarie hordern has been listening. she joined us now from thewalk t was delivered by president biden. annmarie: he started talking about climate and a number of issues in the world that a lot of countries here can get on board with. then he moved into china and help the u.s. is china. the reiterated the talking point we hear from u.s. and european officials about managing competition with china. he says we do not want to decouple. we are derisking. finally he came to ukraine and said the u.s. will continue to support ukraine. he called out russia 80 number of times. putin is not attending this u.n. general assembly when he talked about you frame, he made it about upholding sovereignty for each country. this is the outreach the biden administration ones on the international front. he talked about appointing ways to every nation, no matter big or small. sovereignty end and territorial integrity is a fixed foundation of this body. it is key to him to make sure they can keep including the global south to see the world the

annmarie hordern, bloomberg news. get to the other geopolitical stories we are watching. strategic coronation with russia. a meeting of their leaders in beijing. the prime minister is on a three day trip to moscow for security and foreign policy talks with his russian counterpart. vladimir putin will visit china next month for a form and a meeting with president -- presidency. u.s. commerce secretary gina raimondo says there's no evidence that chinese phone maker huawei can make advanced chipset scale. she says she was upset that they released a new phone with a seven millimeter chip. washington has opened an investigation into their phone amid export controls on beijing. shery: justin trudeau vows to hold people to account for the murder of a leader in the country which is government alleges was masterminded by india. >> one of the things that is so important today is that the government of india takes serious this matter. it is extreme lease areas and it has far-reaching consequences in international law and otherwi

annmarie: the report is still that he will go there.the late 1980's -- unable to flip since the late 1980's. then trump lost it in 2020. this is a must win state for democrats. i will bring up the point that a lot of union leaders remember what trump said in 2015 when he was campaigning. when a number of automakers were talking about building facilities in mexico, especially putting liens or dollars and moscow, trump said why would you do that? move to a better u.s. state where you don't have union leadership and get cheap later and -- cheap labor and people were relies they lost their jobs and they will go to the old factories and this deeply annoyed the uaw leadership. they said we are not being respected as a working-class and middle-class and those memories, they are still front and center for a lot of these individuals. tom: i have -- to your important conversation today and as the gentleman from poland was speaking in polish, for me, it was lost in translation except there was attention in that conversation. describe the tension t

annmarie hordern joining.on i've been unable to answer, which is what is the political implication of president biden going to michigan? is it well-received or highly criticized? annmarie: the president wants to make up a little statement. he continuously says and ran a campaign that he is a boy from scranton, the most pro-union president in modern american history. he is now putting his money where his mouth is by actually going to the picket line. the white house is trumpeting this as the first president to do so in modern american history. maybe ever. the only moment i can see as an individual putting their thumb on the scale for the labor union has to be the 1900s with teddy roosevelt and the coal miners when they had them at the white house. this is a historic moment for this president and the white house is touting it. if you look at the polls, one in six americans researched this in august given the labor of summer. one in six come from a union households and 70% of americans support labor unions. it is

annmarie: i think it has to be by january.ber there is an important election coming up in virginia. and there are still lots of whispers that governor glenn youngkin, depending on how good of a night he has, and potentially flipping virginia red -- he is putting a ton of time and effort into these seats in virginia in this off-season election. their local elections. if he has a good night there is that potential that he could jump in. and that is really the dark horse candidate. jonathan: thank you. can forward to balance of power with joe mathieu and kailey leinz contributing. over at apollo, we get tons of questions on the bond market. the question at the moment you get is, why are yields higher? japan exiting. yield curve control. fewer dollars for channel -- china to recycle. the u.s. budget. the last stock of t-bills and the treasury's intentions to increase auction sizes. take your pick. amanda lynam from blackrock next. ♪ jonathan: if i told you where the bond market this morning you probably wouldn't guess that the equ

annmarie: potentially.n to vacate. this will become clearer depending on how the continuing resolution plays out. likely there will be a government shutdown. likely you will have to pass a clean cr and then that will be a moment where you see individuals on the hard right say you've not delivered for us so we do not want you as our speaker. tom: that is an important distinction. you are stating that you frame a shutdown as a likely occurrence now? annmarie: yes. speaker mccarthy has sent lawmakers home. they are not even in d.c. to vote. some of them have left. they are home until next week. the government runs out of funding september 30. jonathan: amazing. amh, thank you. lisa: he loves talking about this. that is sarcasm. jonathan: i really don't. lisa: i am right there with you. jonathan: it drives everyone crazy. maybe they do shut down. maybe you slam the brakes on a solid u.s. economy. tom: i grew up in a house where there were hysterics about the debt and the deficit. a shutdown is not the same as a

annmarie: she said that to the press.repared -- if you were prepared for the job and she said yes. the interviewer said explain you think you are prepared. she said there is nothing to prepare for because joe biden is not going anywhere. it did take people by surprise have weekly she said yes and stopped lisa: at this point, people are looking at the polls in the concern about these issues and this rambling not to mention what we are seeing on both sides of the aisle and other people who have been in service for a long time and it raises questions about their health. at what point do we start to hear a sense of who could potentially run instead of president biden if this starts to get critical mass? annmarie: at the moment, the democrats are rallying around biden even though there are whispers behind closed doors about his age. he will be 83 next november. no one is doubting he will run at this moment. you see the push from the campaign and they are releasing millions of dollars in advertisements about this president. if

annmarie: it was unprecedented. we have not seen images like this.o autoworkers, telling them they should keep at it, keep asking for it even when a reporter said should they be asking for a 40% pay rise. the president said this is what they deserve and took sacrifices and cap these companies running during the depths of the financial crisis. to that point, the president is also walking a fine line on the picket line because remember, a big issue that uaw has with this administration is the billions of dollars of federal money being sent out to help electrify the grid. we talked to jared bernstein yesterday. i asked him, isn't this the cracks of the issue? isn't this very difficult for the president given the fact they are very annoyed, it is very obvious, about this money that is going to ev's? it said it is not a foregone conclusion yet that those ev's not be produced and made by nonunion workers. the fact of the matter is, you are going to need less individuals to make an ev and a lot of money we have seen going towards these ev plants are in the

annmarie: it depends.ntinuing resolution and it could garner democratic votes but does he now isolate those votes if he goes for an impeachment inquiry? it is difficult for speaker mccarthy. this does feel like this will be one of the hardest mazes for him to navigate. one representative yesterday put it well. you have an individual, any individual in congress saying i will only vote for this bill or priority if demand is met. so you have some republicans who say they are not going to vote to fund homeland security if maybe secretary mayorkas is not impeached. these are the kind of demands he is dealing with. >> has his leadership and challenged since a number of his house scares and his ability to wrangle the votes needed to get this through? annmarie: not at the moment, but a growing number of individuals say they will challenge him if he cannot deliver. representative matt gaetz is saying he will vote to have a vote of confidence to make sure that speaker mccarthy is no longer speaker if he does not fol

annmarie at the u.n.g.a. -- lisa: i hate it. actually, it's really fun.y did a remix, and they go "unga, unga, unga." it was a huge hit. lisa: i think it would be great. let's do it. jonathan: how do you lose an f-35? lisa: i don't know. here's my question, what do they know that they are not saying? is this an issue of the weather needs to clear to go into the lakes or wherever they think there may have been some sort of accident? was this something about the transmission system and what could have gotten hooked in? jonathan: was it on autopilot still with fuel. lisa: i do not know the details. we do not even know why he ejected, the pilot. jonathan: pretty fascinating story. catherine -- katherine neiss from pgim fixed income coming. live from london, this is bloomberg. ♪ to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ¡se fue la luz! it's possible. pero todavía tenemos wifi para hacer las tareas. ¿y eso es algo bueno? wifi y estudiar. buenísimo. wifi y pedir una pizza online sería buen

annmarie: it does look like xi jinping is not going to be attending.en we reported that china has just not given their response yet. to the indian government. it does look like xi jinping is going to skip it and in other potential dagger to the u.s. to october, one month after the g20, reported he has a president putin to come to china, his first trip out of russia since his arrest warrant for alleged war crimes by the international criminal court, he will attend china's initiative so this was going to be an opportunity potentially where biden and xi jinping, even if it was not a full sit-down, they way had in bali that restarted detox -- restarted detoxs and by the -- they wanted see talks. i still maintain to be continue to the end of the year, the u.s. is hosting a pack and there is a chance xi jinping will attend that would be the last opportunity of the year for these two individuals to sit down. tom: annmarie, thank you so much. our chief washington correspondent. balance of power looking for their efforts of the power for september we have ahead

annmarie: workers feel they have leverage and they feel they have been left behind.n there was the potential shutdowns of all these big auto companies and the bailout and they want to make sure those auto companies would remain in america and they could continue working there. they took pay cuts. over the course of the pandemic, you had a lot of people in the private sector working from home. you also have this quietquitting with people extracting more from big companies in terms of pay and leverage. now what you see for these workers, they feel for years, they have not gotten a fair deal and they feel they were during the dish they were there during the tough times of the pandemics over there not just asking for 40%, they also want a much less working week. that's what you see now when it comes to payback. it was interesting to hear the president speak when he was asked by reporters on the sidelines who thought there'd be a strike and he said he didn't think so and the uaw president came out and said will he must have different information that i have. unless these

jonathan: annmarie hordern in washington, d.c..ver the last few weeks? annmarie: it was an eight minute floor speech and he talked about the particular moments that happened in august, the 32nd freeze. but there was a 22nd freeze as well in july. it isn't comfortable that this was played out in public. which we heard is from the congressional physician who said this has nothing to do with a stroke or seizures. remember, he fell earlier in the year and suffered a concussion. potentially, this is him still recovering from that. but it is an elephant in the room that will likely be discussed with senate republican members meeting. what we heard from senator flume, who is a top contender in the -- excuse me, senator john cornyn, and other top contender from texas. this is something mitch mcconnell wants to address and be more print -- transparent about. he had a meeting behind closed doors with his colleagues and will be more transparent about what is going on with his health. we only got a step into that window. -- do not -- jonathan:

annmarie: it depends on where you live and who you ask.ning is been a hot labor summer. workers really want to demand more from their employers. we don't have writers and actors on strike in california, we have flight attendants after the pilots were able to strike a good deal. as you go to the south with the right to work laws, you will not see prolabor individuals. it is right to work culture. it depends on where you are and who you ask. from john's point, the number of people who are part of unions has dropped dramatically then what we saw in the 1970's. jonathan: it is easy to say your pro union when labor union participation is so low. time and time again that he believes he is the most pro union president, should he not be striking with them? annmarie: i don't think you will see the president go to detroit enjoyed a a picket line but he will use his bully pulpit. he has tried to work between these big three and union individual. a statement came out about these negotiations and the potential of a strike so when he said the uae can st

annmarie: they have not found all of it they found pieces of it.rams in the united states. i spoke with someone who is a pilot on these and he said when these ms. at happen and the plane goes missing, it crashes in marshland and the earth eats it up, that is what -- where the $100 million is, in the earth. lisa: potentially. tom: a starship lands in the water and seeks -- it sinks in the field. jonathan: i see where we are going now. we have seats in the senate and at the same time we are the losing f-35. this is what happens when you wear a hoodie to work. lisa: that is your thought you lose things. jonathan: you lose things you get scruffy and lose things. we have jane foley joining us head of fx up next. available now in siding colors, styles and textures. curated by joanna gaines. ¡se fue la luz! pero todavía tenemos wifi para hacer las tareas. ¿y eso es algo bueno? wifi y estudiar. buenísimo. wifi y pedir una pizza online sería buenísimo. presentamos storm ready wifi. solo de xfinity. ahora puedes mantener una conexión confiable durante apagon

annmarie: it depends on what part of the region we are talking about.d about with fox news last night? from the u.s. administration, that is quite successful. did zelenskyy make his point? yes, but at the same time, the only permanent member of the security council that showed up to the u.n. was joe biden. jonathan: amh, thank you, wonderful work over the last few days. out of new york this week, the general assembly on the bank of england rate decision. we will talk about the bank of england with the rate unchanged. equity futures not changed, from london, ♪ this is bloomberg. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪♪ we're not writers, but we help you shape your financial story. ♪♪ we're not an airline, but our network connects global businesses across nearly 160 markets. ♪♪ we're not a startup, but our innovation labs use new technologies to help keep your information secure. ♪♪ we're not architects, but we help build str

annmarie: back to the grain deal with there's a lot of friction, you said today there will be a legalution at the wto but also said it will be good if ukraine will remember it does receive assistance from poland. you said that ukraine should know it is a transit country, poland. is that a threat zelensky? andrej: no, this is not the point to lead any discussion in the media. i regret there is a discussion going on in the media. i will try to cut it off are sure because someone has to be wiser here in the situation is not easy. we tried to help ukraine and we have created transport corridors, transit corridors precisely to transit ukrainian grain through poland. in the direction of seaports, be it polish seaports or the seaports in the balkan states to make sure that the ukrainian grain can be exported were ever is needed because ¡se fue la luz! pero todavía tenemos wifi para hacer las tareas. ¿y eso es algo bueno? wifi y estudiar. buenísimo. wifi y pedir una pizza online sería buenísimo. presentamos storm ready wifi. solo de xfinity. ahora puedes mantener una conexión confiable durant

this is like limiting -- annmarie: what about chinese retaliation?l understanding that if you are bound closely, it can endanger yourself, especially if you are having such a high dependency of the regime like in russia, which is in the end taking your own peace of order. therefore, cutting off all dependency from russia, but also now with regard to china, de-risking is our total understanding of the strategy. not decoupling, because you cannot decouple in an interconnected world. and a connected world is also the way to peace, but we should be able to defend ourselves, not being naive. being a partner in climate issues, being a competitor with china with new technology, but also seeing that we are systematic rivals and we have to protect our own vulnerability. this is where von der leyen comes in, the commission president, to strengthen our critical infrastructure in europe, but also looking at outbound investments. rishaad: that is the german foreign minister, annalena baerbock, speaking with our very own annmarie hordern. we have more coming up on

very importantly, annmarie hordern and joe mathieu have the former vice president of indiana tonight. you wonder how does mike pence down the fence? does he talk to the uaw in indianapolis here? they are not on strike abba maybe they will be. jonathan: sure. tom: do these guys stay on the fence given the strike? jonathan: i think everyone is after the vote. the global macro director joins us now. only at your thoughts on the strike and a question we have asked continuously the last couple weeks whether you view this as a hot labor market, whether this is something we will see more of in years to come. >> good morning. that is the big question. as the labor versus capital pendulum swung for real, and i think there are good reasons to think maybe it has because the last couple decades favored capital holders, high input -- low-inflation, low interest rates, arbitrage around the world. perhaps that trend is ending and we see -- what we see speaks to the issue of whether inflation has become a structural phenomenon or whether it was a passing thing that happened during covid. if we are go

annmarie hordern has more.t biden urged world leaders to continue supporting ukraine. he said what what that mean for other independent countries if the world order allows ukraine to be carved up? at the same time, president biden was speaking in new york city. speaker mccarthy and washington, d.c. talked about accountability for ukraine aid going to kyiv. i spoke to the nato secretary-general and he said the u.s. continues to expect support from ukraine. >> i'm confident that you the united states as well as nato allies will continue to support ukraine. it will be a strategy for ukrainians -- a challenge for ukrainians but also dangerous for us, because the message for him and china, when they use military force, when they invade another country, the russians get what they want. that would make us more vulnerable. it is in our security interest to support ukraine, and therefore i'm confident the united states will continue to support ukraine. reporter: president biden and president zelenskyy will meet in washi

annmarie: -- subhadip: as i mentioned, when we were looking at just the j.p.ion, we are looking at 25 to $30 billion and there are other global index providers also coming up with their decision later this month. so we are looking at 40, $50 billion if all the inclusions come through just by way of passive flows. it means a lot for the indian bond market. it will help change the dynamics of the indian bond market, which has perennially seen a bit of oversupply given the widening government fiscal deficit over the years and the need to borrow from the bond market to meet step deficit. now foreigners will be expected to play a bigger role in the bond market with this inclusion, and basically that will help bridge the demand-supply gap to some extent. citibank is expecting the 10 year yield to drop to 618 in the coming months, which is a 30 basis point drop from the current levels. rishaad: very quickly, what about the demand-supply equation here and what does it mean for yields as well? subhadip: today we have seen a bit of a move given the decision came through

we can make up as we go, annmarie hordern, bloomberg correspondent that joins us. minister of canada there. what is our relationship in washington with canada. i recall president trump had a tariff battle over lumber and friedland was going back-and-forth and forth on that. what is the present relationship with canada and biden administration? >> i think throughout history even if there is arguments between canada and the united states that there is still friendly relationships. it is the united states's biggest land border and this administration does have a good relationship when it comes to justin trudeau and his team. a lot of that has to do with what they're doing and asia-pacific. i have spoken a number of times with canada's trade minister and the work they are trying to put into what is going on in asian-pacific, trying to diversify supply chains. so they see i to i in that and they remember they saw i tie in what they were -- on a what was going on on national protocols and it comes to mexico and some of their industrial policies. i would say this administ