this is bloomberg. ♪ it's moving day. her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. shery: welcome to daybreak asia. haidi: we are taking a look at the major market open. a global stock selloff splits asia after wall street's worst day since may, marie's include -- worries include inflation. japan's ruling party is set to choose a successor in the most open race in a decade. plus, ever grabbed bond follow-up. global banks assess potential exposure. such a confluence of risks. let's take a look at the market open. sophie: politics in japan, the leadership vote kicking off. traders are focused on the race as the country prepares to exit a state of emergency by the end of this month. the nikkei o

this is bloomberg. shery: still ahead, the former olympic minister says -- is likely to be named the next finance minister. up next, we speak to general gerard -- daniel gerard. this is bloomberg. ♪ paul: asian stocks look set to start october on the back foot after the u.s. be kept the monthly selloff -- biggest a lot since march of 2020. as investors brace for the fed to win down, that's wind down, the rate environment is supportive of equities. joining us from boston is daniel gerard. you say the rate environment is supportive of equities. we have seen broad selling, looks like we are saving up for a risk off in the asia-pacific as well. >> i think this is a good buying environment. overall, what we have been seeing from our institutional clients, the opening has been turning to risk off. we would support that. this is going to be an environment where we are worried about peak policy, perhaps, pete growth, but i do not think that means peak earnings, and that is why equities continue to advance. we m

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak: europe." tom mackenzie donlon -- in london. happy friday. joining us now is edward park, cio at brooks mcdonald asset management. good morning. thank you for joining us this friday. more hawkish tone from central banks. the pboc injecting liquidity, but the norwegian bank and the bank of england as well, the rate cycle needs to be firmly in focus. the yield moves we saw overnight, that spike in the u.s. 10 year, do ucs getting back to a level around 1.7%, where we were in march? >> i think we are still a ways away from that. we saw a flattening of the yield curve. the federal reserve might do more now sooner than initially expected, but that will dampen inflation down the line. especially one of the things we are watching very closely is where that 10-year is, in the middle of that. . we have seen disappointing growth since the middle of this year. our expectation is inflation is going to be a controlled transitory narrative that will ultimately win out. as a result, we will not be testing tha

this is bloomberg. tom: coming up, we discussed the latest on china's regulatory crackdown, targeting the entertainment industry. we discussed the impact on the chinese economy. this is bloomberg. ♪ tom: welcome back. this is "bloomberg: daybreak europe." now to a bloomberg exclusive, hsbc is committed to never getting the increasing complexities of operating in china. in his first broadcast interview since being named hsbc ceo, noah quinn said the bank is expanding hiring in the region. >> we have been around 156 years. we have faced political tensions in the history. if you want to be an international bank, serving the world, serving 60 markets at times, it can be difficult. i will not deny that. our clients tell us, whether they are consumers who want to invest elsewhere in the world, or businesses wanting to trade with the world. the demand we have seen even in a crisis like the one we have faced, the demand of our customers to serve them globally still exists. >> are authorities asking you to choos

this is bloomberg.athleen: thank you. still ahead, markets racing for the jobs data. are we approaching the taper threshold? this is bloomberg. ♪ haidi: fed officials continue to debate winding down monetary support later this year. joining us now is lizzie a rockland. what you watching out for? >> one thing that has been really interesting over the last year is that the labor force participation rate has remained flat. that means people are not looking for work at the same pace that they were before the pandemic. we will look to see whether that has increased as schools reopen in people return to the office. kathleen: thank you so very much. let's bring our next guest in. the head of equities at research affiliates. how important is this number to the market? it seems like that weaker adp support made everybody go, it will be a weaker government report. what if it's not? what if it is strong like alaska blood months were? >> i think a market is certainly expecting good news. i think the number is quite

this is bloomberg. ♪ matt: this is "bloomberg markets."he new york fed president is speaking now to discuss the state of the economy. we are monitoring that event. we will continue to bring you headlines as they cross. we have one huge event to work around. that is the huge loss on the nfp or miss on the nfp number on friday for august. let's bring in our guest where he is chief economist to discuss what that number means for the fed. want to get your take on what the fed is going to do about. guest: it was a real disappointment. there were some warning signs like declining restaurant activity. it was still really disappointing and what it told us was that the delta wave especially in the southeastern quadrant of the u.s. has taken a toll on the discretionary consumer services sector. that's where we saw zero net jobs in leisure and hospitality sector. in the previous few months, we were seeing 400,000 per month. the bad news is i can't expect a quick rebound because the delta wave continues. maybe it is peaking now, but it will take a whi

this is bloomberg. ♪ it's moving day.le her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. ♪ anna: welcome back to the european market open. half an hour until the start of friday's trading session here in europe, and european equity market futures look uninspiring, fairly flat. mark cudmore on something that looks a little more interesting. this is the last -- lack of link we see in commodity markets. these two are particularly well lit. what is going on here? mark: this chart's really annoying me because i can't explain it. emerging market currencies are underperforming the rebound in commodities. we talked about this thing a couple of months ago, one of my arguments white i think latin america m

this is bloomberg. ♪ is bloomberg. ♪ amanda: this is bloomberg markets. i'm amanda lang.take a quick check on tech stocks. we are still seeing a selloff in equities, responding in part two that jump in yields on the 10 year. and nasdaq 100, amazon down 2.8%. apple is faring better than some. google at last check was done more than 3%. it is one of those days that you see big men to moves. alix: not only higher yields but the supply praying -- chain pressures. if you have issues and certain plants in china having to conserve power, that will have a feedthrough effect. probably why you are seeing semis down today. amanda: we will watch micron and see what it has to say. a lot to be said about amazon today, it's hardware launch event is underway. emily chang is standing by with a key voice from that event. >> we are here with david limp, vice president of devices and services after unveiling a slew of products and services. great to have you on the show. i want to start with the echo, wall mounted, which you see as a family home where you can share calendars, can double as a

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we welcome our bloomberg and bnn bloomberg audiences.e top stories we are following for you from around the world. the nfl season kicks off tonight. we will speak exclusively with jimmy pitaro, chairman of espn and sports content at walt disney about the return of the most important sport in the history of the world. and we discussed the outlook for middle-market m&a going into year end after a robust first half of the year with karen davies, huntington national bank executive director for commercial banking. and i will go out on a limb here, big time buckeyes fan. amanda: [laughter] you keep doubling down on how important football is. we are watching stock markets today -- somewhat quiet -- but pretty flat tone over all. you have the groups that make up the things -- fangs getting more negative. weakness out there today in the health care space as some of the biggest names, biogen leading the way. all around, some disappointment. overall, financials are good. we are watching energy, middle of the pack. we did see a reaction in the oil m

this is bloomberg. ♪ alix: coming up, -- this is bloomberg. checking on the bloomberg news.iban and other leaders have reached a consensus on the new formation of a government. top official says the taliban has been waiting for the full withdrawal before making any announcements about the government. prime minister justin trudeau will release a campaign platform. it will be fully found danced -- fully financed. a private measure of china's factory since april of april -- since april of 2020. the u.s. supreme court took no action in the strictest abortion law took effect today. the supreme court could act although there is no firm deadline. the city of nur lanes will mostly legally be without electricity. -- the city of new orleans will most likely be without electricity. officials telling residents who have fled the town to stay away for now. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. alix: u.s. bankruptcy judge is saying might not cover all claims. he is speaking of the legal

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bloomberg is a founder of bloomberg lp and bloomberg news which supports the johns hopkins school oflic health. much more ahead. let's take a quick check of where we stand on the markets on this tuesday afternoon. a shortened holiday week in the u.s., looking at stocks relatively weak. the dow jones industrial average down about .5%. this is bloomberg. ♪ mark: i'm mark crumpton with bloomberg's first word news. president biden is spending part of his day in new jersey and new york city, surveying the massive damage done by the remnants of hurricane ida. the president was briefed at the somerset county emergency management training center in hillsboro township, new jersey. the remnants of a ida caused tens of billions of dollars in estimated damage to public infrastructure and property in the region. the deaths of more than 40 people are linked to the storm system. the united states has reached a vaccination milestone -- 75% of adults in the u.s. have received at least one dose of covid-19 vaccine. the marker comes amid the delta variant wave. about 100,000 people are in the hospital

this is bloomberg. ♪ >> welcome back to bloomberg daybreak europe.eks after warning interest rates need to rise in the next few years, the bank of england finds itself facing a delicate alan some risks at the recovery stalls and inflation accelerates. you could call it a central bank policy puzzle. on doe decision day, our reporter is outside the bank of england for us. what can we expect from andrew bailey later today? >> we are expecting the bank of england to vote to keep interest rates on hold at 0.1% and at least one of the nine-member committee to vote to end asset purchases early. michael saunders, we will have to see if any of his colleagues will join him this month. we will also get an exchange of letters between the governor andrew bailey and the chancellor. that is protocol after inflation surged past the target. neither economists nor markets nor the bank of england had predicted that. the question is, how transitory is transitory? the bank had forecast that inflation would peak at 4% and fall in 2022 and 2023. some of that price growth c

is bloomberg. ♪ >> the price of aluminum climbed to its highest and more than a decade following a military coup in guinea. the west african nation is a major exporter of bauxite. the head of guinea's special forces said he took action to address financial mismanagement and corruption. in the u.k., it is likely to be a tough week for british prime minister boris johnson in parliament. he will be forced to defend his handling of the afghanistan crisis. plus, johnson faces a backlash from his conservative party over reports he is planning a tax hike on workers to boost funding for social care. that is something the party has pledged not to do. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ francine: welcome back to bloomberg markets. aluminum climbed to its highest and more than a decade after political unrest in guinea fueled concerns over the price of rum materials. joining us now is

this is bloomberg.. -- this is bloomberg.ounting about vaccine efficacy against delta and if the mrna shot is growing looser. our senior medical reporter joins us now from hong kong. which markets and countries are we talking about here? >> we are seeing a decrease in orders for china's vaccines across the world, specifically in some parts of southeast asia and and latin america, where china had done a really great job of getting in their earlier -- there earlier to make the shots available for many countries who didn't have access to the more potent mrna shot that came from pfizer, magenta, and biontech. it is those areas that are now looking to get some of these western vaccines that seem to have higher efficacy rates. shery: does that mean those mrna vaccines are now more available to those countries? because there was a reason the chinese vaccines were used, even though they were not as effective, right? >> there were two things going on early in the pandemic. number one, any fracturing just wasn't fully -- manufacturing

this is bloomberg. ♪ ♪ alix: this is bloomberg markets.d airlines saying as many as 593 employees facing termination after declining to get the coronavirus vaccine following their vaccination deadline. for more, i want to bring in ceo scott kirby and our own guy johnson. scott, thank you for joining us. what has been the reaction? what are you going to do with those people? scott: i am proud of united airlines team. we got over 99% of our employees vaccinated. it took us seven weeks from the time we announced it, and that means a lot to all of us. i know we are going to save lives as a result. we feel really good about it. at the company, the overwhelming majority of employees are very supportive. i have had more employees stop me telling me they are proud over this issue than anything i have seen in my career. same thing with customers. he did not do it for that, we did it because it was the right thing to do. guy: let's pick up on that, have you had feedback from passengers saying they want -- particularly customer facing staff -- to be

this is bloomberg. shery: president biden is planning to set a new course for global vaccination allocation this week at a summit on the shortage of shots in poorer countries. the move comes as the u.s. moves to get booster doses to millions of fully inoculated americans. joining us for the latest is our bloomberg editor. what can we expect from the president? >> you're going to see a push given this is a u.n. week for biden. he is going to give a speech to the general assembly on tuesday. you're going to see a push to position the u.s. at the center of the global effort once again as you are already alluding to and that pfizer deal, which is said to be in the works is of course part of that. it will double the u.s. commitment to helping countries with vaccines. there is the competing force, which is that the u.s. wants to or eventually go from a broad campaign of booster shots for which you also need vaccine doses. haidi: there is a lot of -- a lot on the agenda. the french fury we are seeing over this

this is bloomberg. amanda: welcome to "bloomberg markets."r: we welcome both our bloomberg and our bloomberg audiences here. some of the top stories we're following from around the world. prices paid by u.s. consumers rising by less than forecast in august. mark bristow joins us to discuss the latest trend and what it means for the direction of the price of gold. plus, sports data companies debuted on the nasdaq today and is backed by mark cuban and michael jordan. we'll have the c.e.o. and founder. and the biggest event underway. i hear there is a watch, ipad. it's all the rage. amanda: and we're watching for reaction in the markets, taylor. we're seeing something of a negative session out there today. there was early reaction, we've certainly seen reaction in treasuries to that more benign than expected c.p.i. report, if we can put it that way. still a very high number year over year of course. the context of does the fed need to move rather than later? it seems to be a pass on the paper for now. you can see broad-based declines here. we ha

this is "bloomberg daybreak: europe." decision day, investors await any changes to the ecb bond buying program as rising bureaus energizes the hawks. mobile stocks fall amid fears of a recovery slowdown. the fed says the delta variant hit u.s. growth in july and august. china's regulatory crackdown continues. tech shares take a beating as gaming companies face oversight. inflation searches to a 13 year high. it is the ecb we want to focus on. i want to bring your attention in terms of real yields on high-yield bonds in europe. as a result of that enormous balance sheet held by the ecb, those real yields of high-yield bonds are in negative territory. that 3% inflation picture, you get negative yield in the high-yield space. that talks about the reach, the lack of yield as a result of the oversight ecb balance sheet. will that change to any degree? will the middle move at today's meeting? is this a bet by investors that the inflationary picture is more transitory than hawks are suggesting? we have great interviews coming up

this is bloomberg. >> thanks so much.oming up we will hear from the dbs chief executive on china's crackdown on crypto. ♪ >> we would not have a viable airline industry if we did not regulate safety. we would not have the transportation system we do if we did not regulate automobile safe the. ultimately for blockchain based payments, that industry is going to do better regulated in a sound way rather than trying to be some kind of libertarian paradise. francine: larry summers talking crypto regulation. not worried about the evergrande crisis having an impact on the broader market. >> i think this journey of how do we move to a new form of money, a new form of asset, is going to take time. these are not easy transitions to make. money in particular, there is a pathway for having digital money. it will face serious headwinds because it comes and the face of monetary policy challenges, macro challenges. digital tokens as a means of exchange will be choppy. banks will have a role to play. digital assets as a store of value mi

this is bloomberg. ♪ ritika: this is "bloomberg markets."ng at a live shot of the pincer ballroom. coming up -- the principal room. coming up, ken moelis, moelis & company founder. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm ritika gupta. all federal employees in the u.s. will have to be vaccinated against covid-19. president biden will sign an executive order today requiring vaccination for all executive branch employees and federal contractors. the move comes as the delta variant surges and threatens to overwhelm hospitals in parts of the united states. biden will speak from the white house at 5:00 p.m. wall street time today. the white house reportedly will unveil a plan today to cut prescription drug prices, according to dow jones. the plan would push to empower the federal government to negotiate for lower drug prices in medicare, and then pass those savings on to the private sector. the pharmaceutical industry says that would reduce funding for the development of new drugs. there's a blue-collar wage boom

this is bloomberg. bloomberg. ♪ tom: happy wednesday. this is bloomberg daybreak.salvador's bitcoin rollout got off to a rocky start. it plunged as much as 17% with the lowest levels in a month. the country's president said he to being advantage over the crash to buy the bit. joining us from singapore is bloomberg's cross asset markets editor. how has bitcoin reacted to the el salvador rollout? a bit of a selloff and then pairing some of those loss. >> it did sell off pretty quickly and got down to $45,000. it is now in the mid 46,000's now. this is quite a drop after everyone was looking to the level above 50,000. saying lots of people are going to be buying in. we see it going up from here. there was a lot of anticipation and that has not quite worked out. tom: how does it fit into the trading pattern for bitcoin? this is the fist country to fully adopt the crypto currency. >> right. so actually bitcoin has sort of proven to be a buy the rumor type of thing. in 2017 you had the rollout of the futures from the c.m.e. it dropped a ton after that. earlier in the yea

tom: good morning from bloomberg's headquarters, this is "bloomberg daybreak europe," these are today's top stories. e.c.b. calls for an end to crisis mode as inflation rises to 3%. in the u.s. consumer confidence hits a six-month low. opec meets, groups expect them to stick to planned hikes. president biden defends his withdrawal from afghanistan saying it saves american lives. we bring you our interview with the nato secretary general. inflation very much front and center here in europe. the chart we're about to show you points to that 3% rise. you look at co-inflation of 1.6%. imported inflation in countries like germany, imported inflation into germany 15%. this triggers the kind of talk you got from the dutch and others for the end, starting to enthe crisis support from the e.c.b. as we look ahead to the meeting on september 9. inflation in europe front and center. now the noises from e.c.b. officials having impoongts the market. the german bund picked up. as things stand the asian session, chinese technology back in focus, some strength there three days maybe the tech selloff in c

this is bloomberg. ♪ matt: this is bloomberg markets. i am matt miller.ook feeling the pain from apple's new restrictions on data collection. dave wilson has been looking into the stock for us. dave: back in june apple changed the operating software for iphone which required people to opt in in order to be tracked across the internet. no surprise, most people said no and that is become an issue for facebook in terms of their advertising business. they pointed out in july when it came out with second quarter results there was already becoming an issue and it would be even more of a concern for this quarter and next quarter. third quarter is almost over and it came out with a blocked post on their facebook business blog that, among other things, "we have heard from many of you the impact on your advertising investment has been greater than you expected." that becomes, an issue especially in north america where most of facebook's revenue comes from advertising on a per user basis level. far more in europe and far more than other parts of the world. to have t

this is bloomberg. ♪ tom: welcome back to bloomberg daybreak europe.end, tennis fans watched the final of u.s. open in flushing meadows in new york. let's get more with bloomberg's laura wright. talk us through these games. >> the fairytale run of emma -- she became the first qualifier in the open era -- the men's tournament, there was an upset. novak djokovic ended his bid losing in straight sets to medvedev. manus: how does this stack up for the u.s. broadcast market? follow the sport, follow the dollar. >> in the u.k., the only way to watch the u.s. open was via a -- until it was announced that emma would be in the final. this is an amazing deal. free publicity. they hope to bring more people onto the platform. netflix -- amazon prime is looking at 200 plus million subscribers right now. hoping to bring more people onto the platform. tom: what does that tell us about the future of streaming sports? >> 7% of amazon's total revenue comes from subscriptions. the revenue has been increasing quarter on quarter. $8 billion in the second quarter of this ye

bloomberg's su keenan joins us.ing the reserves is september 24 or imminently. the announcement was made last week. it is an historic opening of the strategic reserve to bring down prices. the initial auction will be seven port form billion barrels of crude, according to the agency responsible for this. the option is going to involve -- yes, the move is designed to lower oil prices. let's look at a three-day chart of brent crude. the announcement did indeed weekly and immediately jelled prices lower, down to $74, but they quickly recovered, heading for $77. that may indicate that this is liquidity absorbed by the market. the unprecedented move is designed to ease the pressure of rising raw material prices per china facing a surge in cost of commodities not just for crude and other energy prices such as: natura gas, but in general is it -- such as coal and natural gas. a lot of analysts and banks are saying we could go much higher. it looks like brent crude is on a path $80. goldman is saying it could go to $90 this

this is bloomberg. david: bonds like evergrounde -- evergrande continue to head south amid questions about its ability to meet obligations. yvonne: up next, jeff brown thinks 2021 prices are looking good. he joins us next. this is bloomberg. ♪ david: welcome back. the big event in the ministries the opec-plus ministers meeting, and the expectation is more production and more output coming through in october. we have seen a pickup from the bottom. do we get a little more? in the question is if the bond markets can absorb that. yvonne: let's bring back jeff brown, the president of general connection fte, also worked in paris as well. do you think that if we do see that output has been raised, it looks like they are not willing to deviate the company's plans right now. can the market absorb it? >> we think they can. around this meeting, they will probably talk about supplies, talk about worry over delta variant, but ultimately, they care about price. opec cares about price, and they care about keeping the

this is bloomberg.haidi: china's goal of prosperity has led to clampdown's on companies across industries including tech, education and insurance. it is showing no signs of abating. the property sector has taken a hit. analysts warn of a credit squeeze that could hurt the economy. the spiraling crisis is adding more to the risk pressure. let's bring in stephen engle. it is interesting, thinking about how much short-term pain policymakers might be able to take broadly to make these reforms. stephen: there will be short-term pain, but they are trying to avoid long-term pain. analysts are saying the combination of steps and the aftereffect, the domino effect to developers could have a spillover effect. the bank of america, in a note, said the rapid slowdown in the property sector activities could lead to a significant spillover effect. they are talking about the unnecessarily aggressive steps that have been taken. i have been to aging -- beijing for many years and i watched property market closely. there w

this is bloomberg.athleen: still ahead, china's government has medical services and drug prices and it sites. we talk about just how extensive the crackdown could be. up next, riverfront investment hold steady with a risk on stands. we discussed her markets outlook, just ahead. this is bloomberg. ♪ ♪ >> september tends to be one of those months. >> we get bad outcomes. >> what happens in september? >> september is going to be a white knuckle event. >> here we are. >> this is when the rubber meets the road. >> other currents will take over. >> a whole bunch of things going on. >> fomc meeting. >> potential tapering. >> geopolitics coming up. >> a lot of people waiting on the correction. >> september is a critical month. >> weighing in on what they've seen for another pivotal month for investors. among them, the person we are bringing up next to his bullish -- who is bullish on heavyweights. joining us is rebecca salzman. it's great to have you back on the show. you are bullish for the next year. a lot of

this is bloomberg. paul. paul: u.s.cks rallied for a second day as investors braced the fed's bullish economic outlook while downplaying the risks of contagion from ever grants crisis. our next guest says it is hard for that to happen. joining us now is the cio and partner at advisors cap management. -- capital management. what is better for markets here? rates rise in late 2022, qe getting wound back, or another huge exogenous shock and money stays easy for longer? >> that is a tough question. i am not sure i fully understand why the market reacted so strongly and positively when interest rates went up. we did see a pretty sharp rise in interest rates over 10 basis points. that is a massive move. but at the same time, we know that the economy is doing very well. at least we know that the fed will not be hiking rates for a while. they will be busy tapering the policy, the bond buying program first, and rates will probably move up in the second half of 2022. paul: when rates move up, which sectors do you see as most bein

we welcome our bloomberg and bnn bloomberg audiences.ere are the top stories we are following for you from around the world. canadian prime minister justin trudeau and his conservative rival are nearly tied heading into the final weekend of the country's election campaign. we will give you the latest. plus, you'll hear from thomas peterffy, chairman of interactive brokers. this week, the company announced it is introducing cryptocurrency trading. u.s. stocks fall amid triple witching and a rebalancing, with the s&p 500 hitting its lowest level in four weeks. we will dig into the factors behind the volatility. amanda? amanda: of course, september can be a weak month in any event, but one of those factors may be that read on consumer sentiment. a preliminary number from the michigan sentiment index, but it is the pricing component of that that is the buying conditions that have deteriorated to 1980 levels, driven by high prices. we may have central banks saying this is transitory, but for consumers, if it shows up in buying plans and senti

we welcome our bloomberg and bnn bloomberg audiences.ere are the top stories we are following for you from around the world. in u.s. jobs miss. the reaction to the august payrolls report with afl-cio chief economist william spriggs. plus, we discuss the state of the hospitality industry as bars and restaurants lose 42,000 jobs in august. caroline styne, the co-owner of the luques group, founding member of the independent restaurant coalition, joins us. cracking down on greenwashing. fund managers feel the heat as the sec cracks down on overblown esd labels. the latest from our bloomberg exclusive. greg: pretty fascinating to take a look at the market action today. a little bit confounding. we had this huge and miss the jobs number. it felt like for a while the market was trying to make sense of what to do with that number. you can see the nasdaq is up about 1/5 of 1%. positive pressure on yields. you had a big miss on jobs, maybe the recovery is not as firm as jay powell and co. think but bond yields pushing higher. in toronto, we are up

this is bloomberg. ♪ alix: this is bloomberg markets.ongress cutting it pretty close in an effort to avert a government shutdown. house and senate are expected to extend x -- to extend spending. bloomberg correspondent annmarie hordern is on capitol hill with the latest. where are we in that procedure to fund the government? >> they are on one of the final amendments, and that is likely to go through. this is a stopgap funding measure. really it is a band-aid. then it will go over to the house and president's desk. that is no longer an issue right now, in terms of the number of agenda items they are trying to get done. a voiding a government shutdown, the real fireworks is what is going on in the democratic party when it comes to infrastructure. speaker pelosi says that vote is going to go ahead, we just had pramila jayapal saying the votes are not there. alix: walk me through that. nancy pelosi rarely calls a vote to the floor if she doesn't have the votes. there is rhetoric -- i should point out this is for the $1.2 trillion infrastruc

this is bloomberg. shery. shery: retail sales defying expectations in august and posting solid gains across most categories as a resilient u.s. consumer caps on shopping. kathleen hays -- kept on shopping. kathleen hays is here. kathleen: economists will say never bet against the american consumer. the american consumer was showing weakness in august. let's take a look at this chart, turning weakness into surprising strength. this was for a big drop. the consensus view of -0.7 came plus 0.7 so that right there was the good news. and in fact, if you look at another chart where we take out auto sales which were week, gasoline sales which fell mainly because gasoline prices were lower during part of august, you see that the number was 2.0%, a decent number, and remember, auto sales are not weak mainly because people don't want to buy them. at least that's what we are hearing. it's because prices have surged, new car prices are up. used cars are in short supply. that is the demand signal. 10 of 13 retail sa

we welcome our bloomberg and bnn bloomberg audiences.e the top stories we are following for you from around the world. big jump in rates. we speak to the former bank of england governor mark carney. he leads impact investing at brookfield asset management now, and he will talk to us not only about the moves in rates but the state of esg investing as regulators crackdown on greenwashing. and the latest on ever grand, as chinese regulators told the company to avoid a near-term default on dollar bonds. i feel like we should ask a couple of questions. and shares of carnival cruise rise by the most in two months as the company reports 50% of its fleet will resume service by the end of october. we will have that for you in our stock of the hour. amanda: stocks in general in a risk on kind of move today. we have seen gains after jay powell signaled that he believes the strength of the economy keeps the central bank on track on its plans to begin tapering, a timeline around tapering an increase in rates. broad-based gains, everything except real

this is bloomberg. bloomberg.ple are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress, and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. haidi: oh, and welcome to "bloomberg daybreak: asia." sydney: i am sydney. shery: and from bloomberg headquarters in new york, i am shery ahn. global stock selloff as concerns mount about china property risks and fed tapering. market contagion now testing president

this is bloomberg. tom: simone foxman. coming up, assessing the economic recovery. investors await the u.s. jobs report out friday. we discuss the u.s. economy, a tapered timeline, and inflation. that is next. this is bloomberg. ♪ tom: welcome back, this is bloomberg "daybreak: europe." i'm tom mackenzie. investors are looking ahead to the u.s. nonfarm payroll reports as they assess when the fed may begin tapering. data showed companies added fewer jobs than expected in august, reflecting persistent hiring challenges and suggesting a slowdown in the labor market rip every -- recovery. wei li is still with us. what number are you looking at? is there a specific number when it comes to nonfarm payrolls that would change your positioning when it comes to the u.s.? >> i think the near term from month to month, we need to worry about the choppiness of data coming out of the communique in this unprecedented environment when supply and demand are coming back online at even paces. we will see very choppy number

"bloomberg surveillance this is, -- this is "bloomberg surveillance." this is your bounce

this is bloomberg. ♪ it's moving day.er friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. anna: welcome back to the european market open. a minute to go until the start of cash equity trading. tom, what is top of mind? >> beijing wants to break up alipay, the latest move in its wide-ranging crackdown. the front runner stands firm. olaf scholz fends off attacks in a key election debate two weeks before germany heads to the polls. and a bite out of apple. a judge orders major changes in the way the tech giant makes money from games but stops short of calling it a monopoly. >> let's take a look at the future is. we did have a reversal. an hour ago it was to the low side. now, we have a gain. a lot of foc

we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following for you from around the world. we will go live to the greenwich economic forum and speak to kip devere on the state of the market, and prime minister justin trudeau wins a third term in canada snap elections. what that means for the economy up north. and the latest on the energy crisis in europe, as it is set to worsen in the u.k. as a grid operator delays the start of a key power cable from france by almost a month. amanda: certainly a better day for the markets today, coming off of that huge decline yesterday. we even saw in the last 30 minutes of trading, you often have big bounce backs. you are not see momentum move hired. moves are small but they are broad-based. we got the faang groups in the middle of the pack today. interestingly, the subgroups that are doing the best today, albeit in a muted fashion, are the right sensitives that were doing the best yesterday. there may be a mentality of watching the yields. 1.31 on the 10 year, so we argue --

this is bloomberg. ♪ matt: this is bloomberg markets.eraged finance market bracing for a surge in new deals fueled by burning demand for mna financing and investors hungry to get their hands on anything that offers an alternative to rock-bottom interest rates. let's turn to paul triggiani. we heard a number of investors say private credit is where it is at. they haven't said this, but they are implying they are willing to fund almost anything as long as they can get decent return. they gained six or 7% funding lb hills. is this going to increase? >> we have certainly seen that particularly in the direct lending space. the market has been active there and we are seeing a big increase in europe, the u.k. and the u.s. in terms of new issuance coming to markets. we think that is likely to be the case going forward. amanda: it has been interesting to watch because we have seen this massive influx of new debt entrances -- debt issuances, yet small cap distress. represents an opportunity. there is a certain portion of small cap businesses that

this is bloomberg. haidi: let's get back to that china evergrande story, the developer facing more pressure not just from bondholders not that it is nearing a possible default but also anger from homebuyers, management, investors even its own employees. let's bring in chief north asia correspondent stephen engle in hong kong. this is largely centered around these wealth management products that were sold as part of supply contracts and apartment purchase contracts, right? stephen: a small-scale protest for wealth management products like this, whether it was a ponzi scheme tied to peer lending, these are not uncommon in china. but because the government put such a high premium on social stability, and there is this added emphasis and attention to a common prosperity and protecting the rights of retail investors, the government is clearly taking notice of this at a time when, of course, bondholders are sweating it out right now over evergrande, the world's most indebted developer with more than 300 dolla

global news 24 hours a day and on bloomberg quick take. this is bloomberg. dani? dani: thank you.ow coming up, the u.s. cdc has recommended covid-19 boosters for americans who received the pfizer jab and what could be a shot in the arm for the biden administration. we're going to talk pandemic and markets next. this is bloomberg. dani: welcome back to the open. less than 40 minutes away from the cac equity tradings open. the ftse up .01%. the markets underperformed yesterday. maybe a little bit of a catch up trade this morning. mark, a lot going on. i know you had your eye turned to some of the data coming out. we have not looked at as frequently considering what has been happening with the vaccines but on virus case counts. mark: absolutely, dani. back to covid-19. don't worry. in a slightly positive context, wee have been looking at everything else this week. probably the first week in ages that i don't think covid-19 has been mentioned all week. i'm flying tomorrow so i have some vested interest in this. the first chart i want to draw attention to is the global case chart. less

we will stay on top of this on bloomberg tv and on bloomberg radio. saturday evening, i'm minding my own business and i get a message about the u.s. open winner and i start watching this interview with her. she is asked to name her three dream dinner guests. take a listen to at the u.s. open winner had to say paid -- say. >> daniel raqqa auto, michael jordan and the third would probably be tom keene from bloomberg. i did my a levels in economics, i was having to keep up to speed with the latest news and he made it in a way using analogies that were relatable and quite funny and very understandable. jonathan: i already knew, watched bloomberg surveillance and if you are watching, good morning. i have to say i'm disappointed. the other issue i have is she understands you? [laughter] tom: i am reading in on tennis like nobody. what i can do, my hockey coach look to the tennis coach and the tennis coach said don't give up the day job. jonathan: she is very welcome on this program whenever she is available. equity futures down 59 on the s&p 500. futures, i

this is bloomberg. ♪ >> welcome to bloomberg markets.e welcome both our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. we get a preview of the august payrolls report with economist veronica clark of citigroup. plus, growing scrutiny of cryptocurrencies. a look at state regulators on interest earning crypto accounts that they feel are not properly disclosing risk to investors. and we will look at chewy as shares fall the most since december of last year after second-quarter earnings disappointed to the downside. greg is watching the markets. greg: looking pretty good on both sides of the border, record highs on bay street and wall street. i am thinking of it like part one was jackson hole, jay powell was able to calm investors nerves in terms of monetary policy come about tomorrow we have the job market. in toronto, we had a nice triple digit gain building on yesterday's record close. record toward tory on the -- territory on s&p 500 as well. cyclicals are in favor today, wh

this is bloomberg. ritika: new findings could clear the way to begin vaccinating kids within months. they say that their vaccine is safe and produced strong antibody responses in a large-scale trial. pressure to immunize kids has been on the rise. france is still angry over the submarine date -- submarine deal. he will speak with president biden in the coming days. calls to boost their own defense capabilities. justin trudeau and a close election today, but it may fall short. the liberal party is likely to win 135 of the seats. spain, canary island, a volcano erupted over the weekend. in took place on the island. 100 houses have been destroyed, but there have been no injuries. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ because there is always the possibility that we get delayed, but the question is, i we going to work to get to our goal for september 27? yes. we are going to work hard t

this is bloomberg. tom: coming up, christine lagarde says the ecb will dig into the policy decision, and what slower bond buying will mean for the credit market. that is next. tomorrow, the 20th anniversary of the 9/11 terrorist attacks. bloomberg will have a special weekend coverage looking back on that momentous day. this is bloomberg. ♪ tom: happy friday, this is "bloomberg daybreak: europe." the ecb will slow the pace of its pandemic bond buying program in the final quarter of the year. it is a shift christine lagarde says does not amount to a taper. she spoke after the central bank's policy decision. >> the rebound phase in the recovery of the euro area economy is increasingly advanced. inflation has increased to 3% in august. we expect inflation to rise further this autumn, but to decline next year. the new projections for the annual inflation are at 2.2% in 2021. we see the risks to the economic outlook is broadly balanced. what we are doing is recalibrating pep. tom: still with us is tatjana gre

this is bloomberg. it is time for the bloomberg business flash.at some of the biggest business stories in the news. walmart is looking to fix supply issues with the hiring spree. the world's largest retailer will add 200,000 employees. the jobs include order fillers, freight handlers, live drivers, and management positions. royal dutch shell prepares to restore -- for -- plans to install stalling -- charging stations. the british government will finance 75% of the installation cost. another automaker is being hammered, ne-yo, the chinese electric -- neo, the chinese electric vehicle maker. shares are falling in new york. that is your latest business flash. alix: spanish charging company has announced it will build a u.s. factory in arlington texas. the company focuses on charges you can install in your home. if there is excess power in the car battery you can use it to feed back into the grid. in june it went public in u.s.-backed deal that valued the company at $1.5 billion. joining me is on record since he and -- enric asunscion. why did you cho

this is bloomberg. ♪ tom: welcome back to bloomberg "daybreak: europe."et to today's big story, it focuses on the chaos disrupting supply chains around the world. logistics managers are battling the pandemic, a labor shortage and shipping congestion, all while -- trying to get goods to your front door. what is the state of the global supply chain now? what is the big take away from the big thing? >> the supply chain is still a mess. the conventional wisdom was that economies would sort to reopen, we go back to movies and take vacations and services would become what we spend our money on. the supply crunch is continuing. the port of los angeles just reported near record volumes. so it is still happening, if your company right now and you need to import goods, you are dealing with a lot of headaches and logistics managers are on the front lines of the battle. manus: we heard from one of the ship users talking about what they're doing to try to overcome these supply issues. our people preparing to onshore in 2022? we need to get through this and prepare. ho