annmarie hordern joining us from valley --bali.e want to put it together for the broader economy store. -- story. joining us -- we have a whole soup to digest you have a message from fed officials that there might be some slowing of higher rates but we are not done of rates going up and as, reading -- as an recorder and was talking about, there are global recession concerns. what is your global take on where the economy is heading? >> on the growth story, it is a subpar below potential extended period of weak growth. the most interesting question for markets and investors is what is going on with inflation and i think the data we got last week and we have, in terms of leading indicators of inflation, a lot of supporting evidence that this disinflationary event is building and we are expecting to see a lot of progress in terms of inflation coming down over the next year and it is going to take time. markets are forward-looking and i think that was part of the reason why you saw that very outsize reaction -- outsized reaction. kriti:

annmarie hordern joins us now. schulz says there is a consensus that rush's actions are unacceptable. this as we see continuing bombing in ukraine. talk to me about the lie of the land. much consensus there really is on what is happening in ukraine and how russian needs to be prevented from continuing with this war. annmarie: going into this meeting there was always going to be difficult to get all 20 of these leaders to sign on a joint communique when you have rush of being a member of the g20, and also china, which we know has not come out and fully condemned the war. although we have heard some unnerving from beijing. they are unnerved around nuclear rhetoric on the european continent. when i spoke to president biden's beating national security advisor, michael pyle, he is in those meetings discussing exactly what is going to be agreed upon. he said that most countries, it looks like there is a hope that most countries will sign off on condemning the war in ukraine. it will be interesting to see how a joint comm

annmarie hordern joins us, our bloomberg washington correspondent.ou're making the rounds inside the beltway parties, what is the difference between a republican christmas event and a democratic party christmas event? annmarie: i guess it depends which side i'm going to in terms of the parties, the center or the republican -- the centrist -- the progressives or the centrist on the democrats, or the right wing for the republicans. it is potentially eyes on this country and that is what the white house is focused on as well as leadership on both sides of the aisle. tom: decades ago i looked at the 4, 5, 6 unions. even when they said they do not want to strike, bait got only 54% of the vote. why is leadership going against the rank-and-file? annmarie: this comes down to sick leave. they want medical time off and paid sick leave and what you will see in the house is they are trying to get this tentative agreement to become legislation. this is what the white house is looking for and marty walsh struck that deal with labor unions and companies in septembe

annmarie hordern, bloomberg, washington.een: let's stick with the midterms and bring in annabelle droulers to see what market strategists are saying. annabelle: that's right, kathleen, gaming out possible scenarios, they found based on analysis of implied probabilities of certain betting odds, there is a 50% chance republicans will win both houses of congress. in terms of what that means for the dollar, they say it could be a negative for the dollar in the shorter term because we will have the current administration sort of hamstrung. unable to make big policy decisions. they say that when you look longer-term, if we still see continued support for the republican, this could end up being a net positive because they have the experience with donald trump's tax cuts. also, the jobs act of 2017. these things could be dollar positive long-term. they have been looking at other probabilities. this is what they see as the second-most likely scenario, republicans winning the house and democrats retaining the senate, a 40% chance of t

dani: annmarie hordern explaining what is on the line for tomorrow's elections.'s say republicans do take the house after tomorrow's election, what changes for you? how do you need to alter your playbook? >> we need to know what the republicans will do going into the presidential elections. we expect fiscal change in terms of how much biden can pursue in terms of packages. furthermore i think the fed might have a look back and look at the hawkishness and taper it. i think the main risk is that the agreement on the debt ceiling which we had many before -- many times before. i think that will be the main issue going forward. manus: the physical squeeze which could come to bear in a physical battle with the debt ceiling, does that invoke peak bond yields at this kind of level? does it build that narrative and does it reinforce the two peaks? >> have seen this before in the u.s. many times. we have had a last-minute negotiation on the debt ceiling and we could see some pressure there in terms of yields but i don't think it changes the overall narrative. inflation is

brent's annmarie hordern at the g20 summit in bali. coming up on the program, canada pension plan investment board ceo john graham is at the bluebird new economy forum with francine lacqua -- bloomberg new economy forum with francine lacqua. that interview is next. this is bloomberg. ♪ dani: welcome back to the open. 15 minutes into your european trading day. most of the benchmarks falling. energy is the only sector this morning pushing into the green, potentially helping out the ftse 100. let's turn our focus to the bloomberg new economy forum in singapore. day two in global leaders from business and finance are discussing how to utilize capital to solve the world's problems. francine lacqua joins us with our guest. francine: we are measuring progress and trying to figure out what is the smart money to deploy some of the capital. i am delighted to be joined by john graham, the president and ceo of the canada pension plan investment board. thank you for joining us. we started the panels and we were expecting a debrief i jake sullivan.

annmarie hordern joins us from the white house to our white house correspondent can with the leaf blowersng, behind her, judging by what is going on. annmarie, new york, red or blue? annmarie: i am battling three leaf blowers, actually. new york is deep, deep blue, which is why it was so shocking to see the president of the united states in bronxville and westchester county trying to drum up support for the incumbent governor kathy hochul, who took over from mr. cuomo and she would then be the first elected female governor of new york. but he wasn't the only one. he also had former president bill clinton, former secular state hillary clinton, vice president kamala harris. they have made stops in new york. i think that shows the town and the shift -- tone and the shift in the concern of the democratic party, the fact that they feel the need to go out to new york. it could also show the fact that there are some individuals and candidates running either state elections are federal office that do not want the president to be alongside them, because their constituents view what is going on wit

annmarie hordern joining us.nue to talk about the response to this latest of element in the war in ukraine. a former eu ambassador to russia joins us now. what is the lesson that we can take away from this missile strike into poland. earlier today there was considerable concern that we could see article four being talked about may meeting under article four. clearly we've de-escalation since then but it highlights the risk that europe is operating under the moment. what's the lesson here. >> first what we have to acknowledge that more militant conflict or even peacekeeping operations, unintended incidents happen. even friendly fires happen. over this time what we have with the outcome of the war against ukraine which was launched, provoked war by russia. now reaches the territory of the nato member state. we see this in poland, and it will require response. one which we already hear from bali, secondly it's about further sanctions which they deserve. and certainly it's about how to avoid the future possible incid

i believe we will see annmarie hordern in the next hour.aria tadeo, thank you for joining us from europe. we have bonds in full racing -- full facing credits and then high-yield distress and none ever talked about how it takes total focus. what is the tenure doing? they announced 69 basis points. how is the relationship? >> you have seen a greater rally . garr bosch is easy. i thought you said you're going to dive into the world of rambo -- bramo which is super depressing. how much are we looking at a lack of recognition in the markets? people are still looking for yields. you can see companies that still have cash piles and that they do not have to refinance so it has not hit them as quick. >> i do not want to catch you unawares. we do not rehearse this. me, john, and lisa -- >> we do not talk. >> this was something that happened from my youth. there was bond leverage, buyouts and private equity were ever. when the paper sound wall street's desk, they could not sell it. i do not want to get into the gossip of it but what is the signal when

annmarie hordern joins us now. is skipping the dinner at the g20 summit. annmarie: i wish i was taking the president's pastry i would love to go to the g20 meeting with all the leaders. he had a huge night last night sitting down with xi jinping the first time as president of the united states, he sat across from xi jinping. he is going to be working with his team to deal with some nonurgent domestic issues. this is a very long journey from the united states. the president is just off the midterm elections. he was in cambodia over the weekend. now he is in bali. maybe he is a little bit tired. he turns 80 on sunday. it is not covid related. there was this scare. the cambodian prime minister came out today on facebook. the president spent a lengthy amount of time with him over the weekend. he came out saying he tested positive. the president this morning tested negative for covid. jon: how was the meeting between the two leaders xi jinping and president biden playing out in bali? annmarie: everyone is really receptiv

here is a different story and i go back to what i mentioned to annmarie hordern.nsylvania is oil. over to how, john payne and cleveland. how does his rhetoric play in the pennsylvanians of the world -- pennsylvanias of the world? john: brent crude with a 94 door handle and the oil patch a big discussion. lisa: we are getting a sliver of earnings on the oil patch and we will parse through those and the investment at a time where people are saying we need that to be sustainable over the short-term and even medium-term before we get to a greenest furniture -- greener feature. youtuber came out -- over --uber came out and beat expectations and the stairs were surging over 9% and it is interesting to hear about how the actual driver base increased dramatically and they went back up to volumes going back to 2019. people still have money to spend, whether it is ridesharing or on food delivery and airbnb is reporting after the bell and a slew of other earnings and we will hear from spfo technologies --sofi technologies and a whole swath of the s&p 500 reporting. about 750

tom: return to washington, annmarie hordern in bali, indonesia.they always come home and with immense respect for the lady of baltimore and her san francisco speaker pelosi. there is no other way about it. freeing this for our international audience, does speaker pelosi go and see the president today? anne-marie: it is a great question. -- annmarie: that is a good question. clearly they had a conversation they're going to talk and look at her future plans today. part of her decision-making on whether or not she passes on the leadership post and does not want to continue on that and retires, it is the fact that also what happened to her husband at the end of october when he was attacked with a hammer, someone breaking into their home. she obviously is consulting with her family as well. for the international audience, and the domestic audience speaker pelosi has been in the limelight for decades as a politician and really being the driver behind the democrats in the house. the first woman to lead the chamber and today we will hear what she has to s

we are also getting breaking news out of our interview that annmarie hordern did for us with the commission president, ursula von der leyen. one thing we were trying to find out is where the the eu is ready to put a price cap on oil and von der leyen saying they can count on the eu for having an oil price cap by the end of the year. basically they are ready to go but she also says there is still no price for the oil cap. of course, different countries will have different sensitivities to this. tom: still some more details to get out of the eu commission on this particular price cap but the important in terms of moving the needle of what we know from their plans. brent currently at $96 a barrel. wti trading at $89 a barrel. coming up, the swedish fintech platform takes on rivals like amazon and pivoting away from the buy now pay later. we will speak to the ceo next. this is bloomberg. ♪ francine: welcome back to the open. we are 12 minutes into the european trading day. the moment, we are seeing gains across the board. european stocks, 0.1% higher. treasury yields also moving higher after ch

tom: annmarie hordern. as usual, on election day the writings are extraordinary.e washington post, a terrific essay today, that the democrats have to stop with the naval gazing. for the democrats, it was the cards they were dealt. >> right now it is in terms of the energy story. they came into this administration with rhetoric that did not match the moment 12 months later, which was the fact that there was the invasion of ukraine. they were taking out a commodity superstore in russia. speaking of elections day, they actually busted out of the 70's. 3.80 average. this is something the white house is obsessed with. this is reflective of the president's poll numbers. tom: what about the republicans, mr. trump is out again talking about november 15 and such. there is really no message for them. they have to live with the cars that the republicans dealt. annmarie: he is still the leader of their party and many want to put that era behind them but they just cannot. he is out there at rallies for these individuals he is campaigning for, that many in the party would not l

bloomberg washington correspondent annmarie hordern joins us now.oks like it was a tough night for donald trump, a better night for joe biden, desantis the clear victor coming out of these midterms. where does it take us as we head towards 2024? >> desantis, a major win for him. the margin he was able to win florida and were talking about democratic strongholds like miami-dade county. this is where joe biden was winning this county by 85,000 votes, the santos -- desanti won with a huge margin. in those they were saying two more years. it's a for more -- it's a four year tube and its oreo candidacy to run. they're saying we want you to be the nominee for 2024. and this is definitely a loss for the former president trump who yesterday in the wall street journal, the quote was he was saying desantis can run if he wants but he has information that he could leak. clearly starting to get under his skin. this was a good night for the white house and for president biden. this is not as big of a loss as they were expecting. and it's the best the president ha

to frame set out for us this morning, annmarie hordern.are going down to florida to meet with the governor. the boom of miami, all the northerners moving down. we are staying at the caroline wellness miami resort. how is the level of wellness of governor desantis this morning? >> he is the winner of this entire election because of the margin. it was nearly 20 points. he carried miami-dade. this is a county that is a democratic stronghold. it was very obvious he had a good night. the chants are two more years. his constituents want him to run for president and already there is a duel between him and the former president. tom: how does he separate himself? annmarie: four years ago, the former president really elevated him, helped his reelection bid, but in the past two years you some more of this feud. now it is blowing up. the former president calling him ron desactimonious. he is offering republicans that may be the former president would offer but in a more statesman weight. look at how he handled the hurricane recently. lisa: which raise

joining us is bloomberg's annmarie hordern. rly this inflation data also a little victory for him. annmarie: i imagine the white house breathing a sigh of relief, and they certainly are with a statement coming out from the president, saying he is the in progress, and also pointed to the fact that gasoline prices are down. you have to think the risk that just came out on monday before the rest of america, who did not vote early, went to the polls. this inflation is the lowest it has been a since january, and this was the number one concern of the electorate. this is one thing that the president is feeling good about, not just an intense run for 2024 but also before he goes on a massive international trip and meeting with other g20 leaders. guy: donald trump seems to be having a bad day. [laughter] annmarie: having a bad day today, he had a bad day yesterday. i want to bring you the headline from "the wall street journal" editorial board today. trump is the republic and party's biggest loser. he has now flopped in 2018, 2021, and

annmarie hordern joins us. the weather is unusual. open this up as we begin with you for our election coverage. this midterm is unusual when it comes to turnout. do you have any sense of the -- sense if the turnout will be greater than the stunning number of 2018? >> the direction of travel is we are seeing bro must turn, not just in early voting but polls are showing it could match or surpass 2018. i was reading through the details of this this morning from an analyst group that the record amounts of money has ever been spent that we are seeing in this midterm election. there is a lots of money and a lot of people getting out the vote. we talked about this yesterday when you look at suburban women who really came out in droves to flip a lots of house seats to democrats in 2018. they are now very upset with the price and cost of things going up and inflation rates. this is their number one concern now. this is starting to shift and the polls are showing more than 50% want to get out and vote and they plan to. it is also warm weather s

guy: joining us now from the g20 in bali is bloomberg's annmarie hordern. nse going into this was there is an expectation we would not see a significant thawing of relations. have we been surprised by how cordial relations were in this meeting? annmarie: i would say so. the white house statement came out saying secretary blinken will be heading to china. the fact they are going to resume discussions at the senior level of both china delegations, biden administration when it comes to things like climate change, economic practices, debt sustainability and relief. like what is going on in health. these kind of parallels they want to work on. a lot of this stopped over the summer after speaker pelosi's visit to taiwan. we saw an aggressive china in response to that. many in the region thought that potentially speaker pelosi was provocative act of hers, this is why china acted in such a way. clearly, taiwan is this redline for xi jinping. the chinese readout says they want to see the u.s. words meet actions when it comes to one china policy. this has been somethi

will lean on tomorrow in washington and wednesday morning as we pick up the debris and that is annmarie horderni look at my reading over the weekend and the thundering silence i noted was not distrust in the polls but just what is the value of the polls? you've talked to experts on both sides of the aisle. do the polls speak the truth? annmarie: they are confusing because when you look at the polls in terms of issues, top of the issue is inflation and economy and that is what people are going out to vote on but at the same time when you ask them who do you trust the economy and things like crime or in the hands of, it is republicans but over the weekend there is an abc washington post poll that says it is pretty much in. an nbc poll says democrats are now catching up to republicans in terms of enthusiasm of voters wanting to go out but if voters are focusing on the economy and inflation, other polls show they should be leaning republican so they are quite confusing. i think by and large, everyone is expecting a red ripple or wave for the house. it is going to come down to the senate to see how

annmarie hordern, what are you looking for? >> about 100 companies worldwide.well involved in this case. a number of global roles. we will see what happens as this case unravels. how it is unique to the financial service industry given we have seen large-scale complex situations before as it comes to financial bankruptcy. we have never seen one of the scale when it comes to more than a million customers being affected. billions of dollars at stake for the first 50 predators alone. when you look at the top 10 predators, more than 50 million alone. one thing i would say is both other companies as well as creditors are looking at this case and saying let's look at the assets, what can be recouped? can things be made whole again for certain investors? when people look at the other companies involved they are saying, am i losing everything or am i getting $.60 on the dollar or $.50 on the dollar? that is important for people who have stake in money here. for the executives themselves they are looking at ftx and the entire empire and how the regulatory boundaries apa

our own annmarie hordern has been there, where we have heard reactions from world leaders. a very eventful g20. can we start with biden? the reaction seems to be expressing caution. >> the president wanted to express caution. he was asked by josh if the missile came from russia. biden said preliminary reports show that would contradict that. nap report says this was a ukrainian missile that hit an incoming russian rocket. the president responded to reporters on the sidelines of the g20, that he wants to wait until the investigation is complete. he doesn't want to make assumptions and publicly say one thing while the investigation is ongoing. for president biden, coming out of this meeting that was held on the sidelines of the g20 with members of the g7, and nato members, think of emmanuel macron, rishi sunak, these individuals are expressing caution. this has been a threat throughout the entire war, the fact that potentially, this could escalate by moving into, aggression into neighboring countries that belong to nato. this is something the u.s. and western allies have trie

annmarie hordern explains what is at stake. >> joe biden is hoping to democrats can pick up seats itte in tuesday's election. history says that they probably will not. look at the last seven presidents. almost all of their party's lost seats in midterm elections. some of those losses were significant. democrats had hoped they could run the above issue -- run on the issue of abortion rights following a controversial supreme court decision. surveys show inflation is a big issue for voters, and president biden is getting lame for it. in the house all 435 seats are being contested. republicans only need to pick up five seats to take control. polls indicate they could do that easily and probably pick up more. the senate is seen as a tossup with 35 seats being contested. right now the chamber is divided 50-50 with democrats in the majority because vice president kamala harris get a vote in the case of a tie. publicans need to gain just one seat to take control. the senate could come down to close races in states including pennsylvania, georgia, and nevada. it is possible we will not know w

annmarie hordern wish to vladimir putin was here in poly so that they could tell him to his face and condemn the atrocious war. those are her words happening in ukraine. we are waiting for a possible communication from the g20. the chancellor of germany says they are getting more support by g20 leaders to support a condemnation of the war in you. we have to see if -- in ukraine. we have to see if that changes in poland overnight. haidi: that a steven engle in bali. we are getting breaking news when it comes to the response from poland, they have summoned the russian ambassador saying that the russian missile hit the border near ukraine causing two utilities -- fatalities. they are demanding a detailed investigation and they linked it to the really broad missile offensive that we have seen from russia in ukraine just this week. let us bring in a former fellow at the eurasia center and the economic advisor to russia and ukraine. it is wonderful to have you with us. although not under wonderful circumstances. what are the steps for nato partners who would need to determine verification

joining us now, always average of the white house, annmarie hordern.er] describe for our international audience, is it meanness, is a comedy, what is the tone you detect from the former president toward the governor of florida? >> he is clearly unnerved. there has been a number of messages he put out last night and this comes ahead of the fact he also sent out an invitation for his announcement at mar-a-lago next week. even though many in his inner circle are trying to get the president to really hold off, saying please wait until after the georgia runoff which will be december 6, please wait until you decide to make this announcement but he is going ahead. you can see from the statement i guess it is a statement, that john right out some of this, he is clearly bothered by the fact that the republican party is shifting away from him, you have editorials like the wall street journal yesterday putting the blame on a lot of the "red wave" there was supposed to be, laying the blame on the former president and you see the money drifting toward the governor