global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. this is bloomberg. ♪ >> for much too long, working people in this nation and middle class in this country have been out of the american deal. it is time to deal them back in. let's get this done. >> the president of the united states, a tumultuous thursday. no other way to put it. as the president and first lady meet with the pope at the vatican, sitting with pope francis, the vatican city state and other meetings with other italian state. other catholics visited rome. at john f. kennedy, the summer before his assassination. it was really quite a scene at the time. he received quite the greeting in a post-world war ii italy. it is very different now. from the jfk memorial square in rome, annmarie hordern joins us. i've been watching on the side of my tv wall. airlines such down in rome. there is not an airline from russia. there is not an airline from china. let's start with why. >> what this is about at this g20, what's int who is not attending.

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. i am vonnie quinn. this is bloomberg. haidi: let's get a check of westpac, falling 5% after announcing a record buyback. the four-year cash profit estimates announced plans for a record $2.6 billion share buyback, this after earnings narrowly missed expectations. 5.3 5 billion aussie falling short of expectations. also announcing $.60 a share. kathleen: still ahead, we hear from a ceo about pivoting from being a parts and components distributor to being a pioneer in robotics and automation. up next, china's pmi numbers. this is bloomberg. ♪ >> we should expect some sort of joe's -- shortages to improve. >> we should see an increase of semiconductor supply. >> deliveries will come earlier, but overall it will take a good chunk of 2022 to sort out. >> there is no objection when it comes to the short term. >> in the near term, supply bottlenecks and energy prices are the main risks to the pace of recovery and outlook for inflation. stephen: we are

global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. paul: let's look at how markets are shaping up. new zealand has been trading for over an hour. s&p futures for sydney looking flat as well. we got market pmi numbers for australia for the month of october. back in positive territory. this coincides with the state of new south wales coming out of lockdown. nikkei futures a little weaker bite one third of 1%. shery: investors are balancing the impact of inflation and earnings on valuation. we will discuss the outlook. plus, mattel's latest earnings beat estimates. we will speak with the ceo. this is bloomberg. ♪ paul: the s&p 500 hitting new highs with inflation and corporate earnings are two of the big themes. talk about this more with a cio hillary kramer. a mixed bag for earnings. intel came in disappointing. mattel holding out against supply chain issues. when you stack up the earnings picture, which one is the bigger catalyst for markets? >>

global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ shery: still ahead, we discussed australia's commitment to reach net zero emissions. up next, we get the market outlook from a portfolio manager and her reaction on u.s. gdp as well. this is bloomberg. ♪ >> q4 should be much better now. we should see an increase of semi conductor supply quarter after quarter. >> we have seen recovery on the impact of q3 from the supply base that caused deeper impact. i am optimistic that we are through the worst of it. >> we are already seeing issues with finding product on the shelves. >> we have a fully aligned supply chain when it comes to 2022 and 2023. shery: ceos talking about supply chains. that weighed on the u.s. economy in the third quarter. our next guest is cautious about the pandemic outlook and the earnings power of some businesses. if anything, we saw profit margins continue to widen even with cost pressures. how cautious are you about the econ

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. i'm vonnie quinn. this is bloomberg. shery: supply chain disruptions feeding the debate and threatening recovery. matt bryson joins us to discuss. but first, emily tells us what persistent inflation and the fed taper means for emerging markets. this is bloomberg. ♪ >> i lived through the stagflation of the 70's and there are a lot of differences. do i see persistence in inflation? yes. i believe it is more than transitory. >> there are these transitory forces and as long as we see inflation x rotations remaining anchored and -- we expect to see a return to normalcy by next year. >> the prices, oil, gas, coal prices are a serious challenge for the global economic recovery to higher inflation. >> the biggest thing to be sure about is stagflation. we are seeing inflation or pressures. >> my baseline case is not for stagflation, over a immediate horizon. haidi: big names about inflation and the prospects of rising pressures, our next guest is seeing

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. i am vonnie quinn. this is bloomberg. >> let's tell you what we have coming up. we have triggers for change, bitmex chief executive, alexander hoptner is joining us to look at how in banned remittance is affecting crypto. don't miss that exclusive interview. david: markets and inflation bets reaching the highest in 16 years. the question, how high will break even rates rise? we will consider this question that we are posing to all of io, how high do we go? this is bloomberg. ♪ >> peak inflation, will it be in the first half of 2022? it will moderate as we go towards the second half of 2022. i think we are in for another 12 months of inflationary pressures. >> we did see inflation. we expected it. it is affecting our profitability. >> inflation is definitely becoming more pervasive and persistent and people had hope and i think that is happening for a couple of reasons. one is, money supply has grown significantly by more than a third since covid

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. i'm leigh-ann gerrans. this is bloomberg. ♪ >> we have got to figure out how to get our fiscal house in order. you don't get to just borrow unlimited amounts of money. except for government. if you care about medicare, if you care about social security, we have to look just live within our means. jonathan: republican senator rick scott from florida. from new york city this morning, good morning. your equity markets totally unchanged after five days of gains. in that the bond market where yields are going nowhere. down almost to basis point. slightly weaker euro and euro-dollar negative. crude back with an 82 handle down about $.90 on the data. we are negative. tom: what do you make of the real yield coming in? we have a lesser negative number , make it .93. jonathan: it's more than inflation move from reels to breakevens, it's gone through domestic to global. we will catch up later on that this morning. this is the warm-up. tom: i will be in the su

global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. matt: i'm matt miller. welcome to bloomberg markets. stocks slightly lower as investors way inflation risks as well as look ahead to earnings season. the 10 year yield remains steady ahead of those auction results that we are expecting just moments away. plus u.s. small business owners say they have plenty of customers are growing frustrated by labor and supply shortages. a bloomberg report looks at thousands of decrepit oil and gas wells leaking methane across the u.s., the news is in shares of the country's biggest owner, diversified energy, plunging more than a fifth. we will have more from our pulitzer prize-winning reporters. the s&p 500 is down about .2%. brent crude also falling now. nymex falling as well today. in terms of the glc a picture, losses in gasoline and oil. take a look at the big coin price. -- bitcoin price. we will be watching very closely. we are just about to get the auction results out. thos

global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. matt: i'm matt miller. welcome to bloomberg markets. here the top stories from around the world. we will bring you updates throughout the hour from apple's unleased event where the iphone maker is expected to reveal its long-awaited redesign of the macbook pro that uses its own in-house chip. we will go live to the health conference underway in boston and speak to the ceo of good rx about the cost of lowering prescription drugs. and we will talk to the ceo of the crypto firm going public on the new york stock exchange about the launch of the first u.s. bitcoin futures and what this means for institutional adoption of bitcoin with the cost of crypto on the rise. you can see the s&p 500 is now up. it had been down earlier. you can also see that the u.s. 10 year yield is up. this is true at the shorter end of your curve. the sovereign bond column is packed with black boxes. they are all too years across the globe. bre

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. i am vonnie quinn. this is bloomberg. shery: the incoming japanese prime minister is revamping key positions in the ruling party as he looks ahead to a general election in one month's time. let's get the latest from sophie jackman. so based on his reported cabinet picks, what can we expect from his incoming administration? >> he will officially become part minister today and announced that cabinet as well and media reports have given us a peek at that cabinet. the message, mainly continuity with a little bit of spice. the foreign ministry and the defense ministry are sent to remain unchanged. the big change, the finance minister. that has been held by taro aso, the longest running japan minister in modern times, 81 years old, who will pass the position onto his brother-in-law so we can expect some measure of continuity when it comes to following those abenomics principles of economic and fiscal policy. when it comes to change, key sheet will se

global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thank you very much. coming up, we will focus on energy markets. omv earnings are out, do not miss our interview with alfred stern. plus, -- lundin energy, we will speak about the company's progress. this is bloomberg. ♪ >> being distinctively diversified, we delivered strong growth in the third quarter, and confirming the performance which is well above pre-pandemic levels. the strong result is stemming from all lines. let's look at the revenues, up 4.7%. one more line, risk is tapering off and standing at the low 32 basis points. let's look at the balance sheet, return on tangible equities, 10.4%. all of this basically makes bnp paribas more than ready to tackle going forward. this makes us announce as of monday we will buy back for 900 million euros shares, and this on top of the 50% of 2021 earnings we will pay in cash dividend. >> what are your clients concerned about? >> if you look at the clients, they are focuse

global news 24 hours a day on air and bloomberg quicktake powered by more than 27 hundred journalistsnd analysts in more than 120 countries. haidi: coming up, we speak to one of china's top renewable energy firms. envision group's founder will join us. plus, we speak with the president of the united nations general assembly. this is bloomberg. ♪ >> these prices are soaring. all politicians with national responsibility are nervous because they don't want their citizens to suffer, but we need to make sure we don't throw away the baby with the bathwater. transition to renewable energy is the best answer to this crisis because had we done that five years earlier, we would not be in a situation that we would need so much natural gas that we would see these soaring prices. shery: senior climate chief on the answer to this energy crisis. the united nations general assembly has held its own high-level debate on climate action titled "people, planet, and prosperity." to find out more on that and anticipation for the glasgow summit, let's welcome the united nations general assembly president. m

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. i'm laura wright. this is bloomberg. ♪ >> it went well. a few more things to work out. >> do you think you will have a plan before wednesday? >> do you want a deal by the time you leave for cop? >> that is my hope. jonathan: a lot of hope in the past when he four hours. that was the president of the united states. this tuesday morning, all-time highs coming into tuesday. equity futures up 19. the recent rally up 4/10 of 1%. the nasdaq aggressively lower from september 7 and eating its way back to within 1% of a record itself. crude pulls back in tk. and about $.40. >> we are really going into the heart of this tech earnings stream today. i don't think we expect earnings from non-tech companies to be this poignant. we are not where we thought we would be right now. >> the likes of ups doing nicely. within sectors, winners and losers. unilever raising prices passing them onto the consumer. kimberly-clark struggling with costs. it's a story of curved

global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalistsnd analysts in more than 120 countries. this is bloomberg. dani: thank you so much, juliette saly in singapore. coming up, supply chain bottlenecks and surging consumer demand surge expectations to the highest level for more than a decade. more on that next. this is bloomberg. ♪ >> it is trickier as values move up to deploy capital. we have competitive advantages. we operate almost all of our businesses that large-scale, so this year we have done something like 13 public to privates that we have invested in. that is a competitive advantage given the size. the breadth of our platform continues to expand, that helps us a lot. it so many of our large investments were in new areas. what we are trying to do is find interesting areas in these neighborhoods we love, were we can buy in at a more favorable price. we bought in india and a small tv business, but we saw huge potential. we invested in that considerably. that company has gone public, hugely successful investment. we made something l

global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. this is bloomberg. ♪ yvonne: still ahead, a look at what is next for the bok after it held off on back to back rate hikes. rishaad: next, an update on the flooding in china. there are wider inflationary concerns from the global energy crunch. this is bloomberg. ♪ >> do we really think what we are seeing now is going to move the dial on the inflation outlook? i don't think that is obvious. >>>> i think there is a transient component and a permanent component. it's probably an inflection point. >> i think that central banks would be able to get through that without having to depart significantly from the path they have. >> as central banks taper, the rates go up. it's not terrible as long as inflation doesn't go up. >> there a lot of debt, and movement will affect that. david: you heard it, some concerns topping the agenda on inflation. central bankers facing rising price pressures. a lot of that comes down to the prices you are going t

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. i'm vonnie quinn, this is bloomberg. haidi: apple takes its most aggressive steps yet. we speak to them to talk about the latest device overhaul. conviction trades from the head of asia research is going good. how he's dealing with the dollar risk here in asia. this is bloomberg. ♪ >> central banks are in place for the first time in a very long time. they are facing some policies. they are saying they are constrained about how to be as easy as possible and move money as easy as possible. >> the fed needs to redesign what they think of as an acceptable employment level, or they will stay too long. >> any time the fed whispers they are going to tighten, you see the wall of worry increase in the markets trade-off. >> the central bank is running the markets. the question is whether the economy in the west can function without the central bank pricing. and i think the answer is, we don't know. >> they may make a policy mistake hereby waiting too lon

global news, 24 hours a day on air and on bloomberg quicktake. powered by 2700 journalists and analysts in over 120 countries. i am vonnie quinn, this is bloomberg. >> still ahead this hour, china has ordered is top energy funds to supply them at all costs. more details on that overhead. >> counting down to the open of the trading day in mumbai. this is bloomberg. >> we are looking at these energy stocks at the moment as we get more details on that severe energy crisis in china. bloomberg learning that officials have ordered top energy companies to secure supplies for this winter at all costs. >> let's get into it. dan, we know this crisis, the energy crisis could last for months. what more can you tell us? >> this week, they give them one message. blackouts will not be tolerated. that message is trickling down now to the chinese energy firms. it states that natural gas companies have been putting tenders on the market to import lng even the prices are at a record high. the state owned companies are going to do every thing they can to ensure the l

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. i'm su keenan. this is bloomberg. haidi: ahead we get more analysis on the upcoming u.s. china talks, with richard mcgregor. we will discuss the market action with wells fargo investment institute tracy -- tracie mcmillion. this is bloomberg. ♪ shery:shery: u.s. futures getting ground after the biggest reversal since worry, after a loss of more than 1%. our next guest says she is taking advance of market weakness. let's bring in the head of allocation strategy at wells fargo investment institute. great seeing you. this chart is showing the volatility we have seen on the s&p 500 recently. if you are buying the dip, why? tracie: what we have been telling investors over the last few days is that this type of volatility is expected. we have several things we are watching, the debt ceiling is one of them and that has been contributing to the recent volatility. but we look for these 5% corrections. it's usually 10%, now 5%, adding money to the equity

global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists andnalysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> the bottom line is this chamber must pass legislation to avoid a default. accordingly i will soon file cloture on the proposal that will suspend the debt limit until december of 2022. jonathan: from new york city, good morning. tom keene, lisa abramowicz and jonathan ferro. here's the price action. 16 points on the s&p, up by 4/10 of 1%. a little bounce on the s&p 500. we are down from your previous high on the s&p. it's a draw down it's ugly out there. up a basis point per the fx market euro weaker 116 -- 1.1601. he did not care about this market today. he cares about one thing. it is red sox yankees. tom: this is all there is to it. we've already had a surveillance correction this morning. al from new jersey called in and said -- i have no idea lisa: have you ever worn that hat before? jonathan: are you implying it does not fit? lisa: carry on. tom: your standard red sox hat. we go to annmarie hordern. let'

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. i'm laura wright. this is bloomberg. ♪ >> now is the wrong time to raise taxes on anybody whether it's millionaires or average consumers. the problem is it probably won't raise much money since a lot of this money will be given away to foundations so it won't be taxed. the other issue is probably unconstitutional and the third issue is it creates very bad incentives. tom: the former secretary of the treasury yesterday. i thought it was quite something to listen to secretary mnuchin talk about something that six hours later seem to evaporate off the landscape. jonathan ferro on sabbatical. beginning his sabbatical. what do you think lisa? lisa: definitely capri. he needs it. tom: he got the gulfstream. pager and sullivan in the washington post. i guess driving for the conversation. this was nailed yesterday. a revised framework deconstruct for us now this new phrase, revised framework. >> democrats are trying to come to an agreement. they want to co

global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ paul: still to come, we preview the u.s. jobs data. up next, we discussed the markets with an investment strategist who thinks some parts of the tech sector are better bought and sold. this is bloomberg. ♪ >> pandemic driven activity has been amazing. people are shopping online, they're using their phones for finance. >> blockchain and using stable coins is something very interesting. >> we will be big players on the by outside as the industry matures. especially around watching technology. >> i'm fine if people want to train bitcoin and cryptocurrencies, but there should be full transparency. >> we are seeing saturation -- maturation. >> high-profile guests at the bloomberg global summit sharing their thoughts on fintech and cryptocurrency. our next guest joins us from new york. to your point, this chart is showing the premium over the s&p 500 is at the narrowest since 2018. where in this se

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. manus? manus: juliette, thank you very much. let's set out the key things to watch for the trading week ahead. the key european data. -- points, italy's industrial figures. key figures gather in washington virtually for the world bank annual meeting. and the u.s. celebrates columbus day, which means you got cash bond markets closed but futures trading with fairly good volume. cunning up, goldman sachs downgrades the forecast for the u.s. -- coming up, goldman sachs downgrades the forecast for the u.s.. and jane foley is back, up early. and later, inflation, energy markets and more. any questions for jane, pop them on the bloomberg. the inflation conundrum, coming up on bloomberg. ♪ manus: it is "daybreak: europe," i am manus cranny in dubai. goldman sachs has cut the u.s. growth forecast, downgrading growth by .1%. .1% for this year. .4% next year. the blame goes for the delayed recovery in consumer spending and the fiscal slowdo

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. i'm su keenan. this is bloomberg. yvonne: just an alert crossing the bloomberg right now. the house majority leader talking about that bill that needs to be passed in the house now after the senate voted a couple of hours now to extend that debt limit. they are going to be convening on october 12, next tuesday, to pass that stopgap measure. david: sleep well, you guys. don't worry anymore. borders have been tightly shut. our next guest joins us to talk about airlines, shipping, and everything in between. yvonne: and we talk about why a high-yield market in china could be a buy. we will see if that is still the case. this is bloomberg. ♪ yvonne: after months of resilience in the face of concern over evergrande, you can take a look at china's over $12 trillion domestic credit market. david: we were looking at the range of engagement. the onshore/offshore you want pushed all the way up to that extreme level. 17% now is not high yield spread -- is that

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. this is bloomberg. ♪ ♪ rep. pelosi: there are some things that are not in i have not given up on. i am still fighting for paid leave. i don't understand i we wouldn't have that. tom: managing the message, the speaker of the house there a most even full-day in washington. lisa abramowicz turned to me yesterday afternoon and goes, it's like the meta-verse. [laughter] we have to say thank you, on behalf of all of "bloomberg surveillance." we have to thank president biden for making us serious and adult this morning as he visits with pope francis so we didn't have to open with the meta-verse, right? lisa: how many jokes did we see on twitter yesterday? it is just so meta. they are changing their ticker to mvrs. tom: it's not meta, huh? kailey: and not meta materials, the canadian materials company that was up 32% after hours yesterday. lisa: what is your view on what it should be if it is not faang? maang? tom: i think it's got to be gaama. right 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. i'm funny quinn. this is bloomberg. haidi: still ahead, apple unveils a of airpods and macbooks. coming up, we will speak to joanne from capital management. this is bloomberg. >> we are calling for yields to continue to rise here in treasuries but believe the fed rate hiking path will be relatively shallow all things considered. the market is trying to figure out whether policymakers will lean against the inflation we are seeing. our view is currently there's too much rate hike priced in for 2022. >> the role for the central bank is to provide marginal liquidity at the time for crisis and withdraw after the economy started to stabilize and come back. central banks are now running the markets. shery: major market voices weighing in on monetary policy. our next guest says inflation could worsen before getting better but investors can also insure against it. let's bring in a partner and portfolio manager at advisors capital management. always great ha

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists alysts in more than 120 countries. i am vonnie quinn. this is bloomberg. rishaad: good stuff. talking about the imf cutting a global forecast, the risk of more persistent inflation. rate hikes could actually hit financial stability. yvonne: vigilant with rising cost pressures. let's bring in our global economics and policy editor. a lesser rosy outlook. kathleen: it's not a negative outlook, yes there were downward revisions in many countries, in many cases not so big. the growth forecast went on a 10th of a percent, but in 2020 to 4.9%, that loss of momentum. the u.s., 7% to 6%, this year down to 5.2% next year. delta has hung around longer than most people thought. supply shocks, if you can't get something you can't make something. those numbers are still relatively high. china, 88.0. 5.6% gets a little bit slower. low income countries, and expected higher growth rate next year, vaccine rollout, more reopening. that is the thing the imf is looking for. when it comes to inflation, the

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. i'm ritika gupta. this is bloomberg. ♪ >> we are making good progress. i hope we can come to an agreement tomorrow morning. >> the democrats who've run -- who run washington have squandered week after week after week. >> we are not going to default as a country. we will not default. engage, start working. it should not be a crisis. jonathan: chuck schumer, mitch mcconnell, somewhere in between, senator joe manchin. good morning. this thursday morning, this is what we look like, this is how things are set up. yields unchanged. euro-dollar unchanged. the next stop for this one, jobless claims 8:30 eastern time. 24 hours after that it's off to payrolls friday. why mcconnell back down. the former president, the president and was with one agree on something. mitch mcconnell back down wednesday. jonathan: we are really doing -- tom: in washington we are doing some real surveillance reporting. it's understood the compromise is that the debt ceiling will b

global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. dani: juliette saly with a little friday football news. investors are looking ahead to the key jobs report for clues on the strength of the labor market. we will discuss that next, this is bloomberg. ♪ >> there is no question we have inflation today. the fed models in the treasury models do not necessarily predict what will happen in the future, because again of the fiscal and monetary response. my concern is that we will have inflation and it will continue. some of it may be transition, but look at energy prices. something i thought we would never see during covid is negative prices of oil. now the biden administration is talking about releasing oil from the strategic reserve. clearly we have inflation in energy. the economy is rebounding. labor prices are up. i do worry that this will be ongoing inflation, and we could easily end up with 3.5% tenure treasuries, which increases the cost of the national debt and creates budget issues. dani: for

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. haidi: still ahead, more insight into the first bitcoin-linked etf in the u.s.. find out why the etf may be risky for those holding bitcoin. the investing outlook more broadly, we will be discussing where she sees the opportunities. this is bloomberg. ♪ >> i think we are at a moment in time where we are coming out of the pandemic and there's a handful of things going on. all over the world, there are labor issues that air a reflection of the pandemic. some of the stuff is transitory. there are secular trends we have to watch closely, but i think we are adjusting and dealing with it as anyone else's. shery: david solomon on the chair dashed on the trends he is watching. our next guest says she's optimistic supply chain disruptions will not derail u.s. earnings recovery. let's bring in the ubs managing director. how do you get exposure to this recovery when at the same time we have so much uncertainty? xi: there's always a lot of uncertainty in this

global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists andnalysts in more than 120 countries. this is bloomberg. dani: thank you. juliette saly in singapore. coming outcome of the pboc says while momentum has slowed in the chinese economy, the post-pandemic recovery remains intact. we have more on the third-quarter gdp figures next. this is bloomberg. ♪ ♪ manus: it is "daybreak: europe." the pboc governor says the recovery of the chinese economy remains intact. gdp growth slowed this quarter, 4.9 compared to 7.9 the previous quarter. he forecast the economy would expand by 8% this year. scott is still with us. there is optimism that growth will fire through on the energy rises and let's say the controlled slow down in the building industry. do you share that enthusiasm, 8% growth, what would that do to your equity exposure in china? scott: listen, i think the chinese growth story is very interesting, way down from first quarter numbers, plus 17% in q1. 2022 is very important for china, we have the olympics, the party congress, and the growth

global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus? manus: thank you very much. just a few things to put on your radar as we kick into gear. watch for inflation, anything on inflation. opec-plus meets. it is virtual. how would the rising crude prices impact the production policy? dani: here in the u.k., the tory party conference kicks off, where tom mackenzie will be there. energy prices will also be high on the agenda there. with pressure building over those fuel shortages and living costs, they are set to announce a 500 million pound expansion of britain's job program. we will stick on this theme from reflation to stagflation. we will discuss heading into the final quarter of the year with our guest. that is next, manus. manus: plus, we speak with a guest about the open -- the opec meeting today. this is bloomberg. ♪ >> inflation is not going down. inflation is hot. if you do the pure statistical calculation, it is very unlikely we will get to the target. they will be

emily: that was bloomberg quicktake. that does it for this edition of bloomberg technology.re you tune in tomorrow where we will be joined with -- joined by the cofounder and general partner at e capital group. it will be an exciting show. this is bloomberg. ♪ >> good morning and welcome to delbert -- daybreak australia. >> we are counting down to asia's major market open. shery: the top stories this hour. u.s. stocks rise as progress on debt talks and concern over the global energy crunchies. >> the u.s. senate get set to vote on a short-term

global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts0 countries. this is bloomberg. anna: thanks very much. coming up, inflation conversation. we are on watch for u.s. cpi data out later. markets way the impact of higher prices on the recovery. we will discuss that next. this is bloomberg. ♪ ♪ >> we would like to see broad-based inflation again at the levels they used to be. if that spirals out of control with high inflation numbers, above the comfort range of people in general, but we are not seeing that yet. >> manifesting themselves in all kinds of cost pressures, and bottlenecks. shortages and the like which make for a more persistent, more persistent and stubborn inflation outlook. anna: chief economist of the imf and world bank giving their views on inflation. jp morgan asset management manager is still with us. your thoughts on inflation? it doesn't sound as if you are overly concerned about stagflation or inflation becoming really entrenched. how do you see the inflation narrative in the u.s. developing next? gareth: on the subj

global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. alix: this is bloomberg markets. i'm alix steel. oil prices still at a seven-year high. a big part of that has been this power price spike we have seen in the u.k.. the transition to cleaner energy has left fuel supplies in question, leading to higher prices. earlier today, erik schatzker sat down with the cio of sores global fund management to talk about whether this spike will be the new normal. >> first of all, on the energy side, it is largely a political phenomenon. i think russia had invested -- had a vested interest in natural gas prices being high in the context of nord stream 2 approval. in the context of china, the decision around australian coal -- >> which is to say not by any more. >> what they fail to realize is that even though the majority of their coal is domestically produced, things turn on the margins, so while both of those are geopolitical causes, i think the interesting thing is when you l

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ ♪ sec. yellen: if congress does not take action debt limit, america would default for the first time in history. recovery would be thrown into reverse. we would likely experience a recession. >> we need to resolve this issue very quickly. every day of delay comes at an increasing price. >> actual default would be unprecedented. the effects would be -- we need to show american competence, not incompetence. jonathan: meeting the president to discuss the risk of potential default in america. it looks like d.c. is getting together to kick that can into december. good morning. your equity market is bouncing back, up 42. d.c. contributing to this. we are higher by almost 1%, this morning radically different to yesterday morning. yields unchanged, 1.52% on tends. crude negative, lower down to $76 30 nine cents. crude down by 1.34%. tom: i'm glad you are following crude there. it is a draw up. 1.2%. massive expansion

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haidi. haidi: let's get back to one of our top stories. china evergrande closer towards a massive restructuring. our next guest says beijing is seeking to withstand discipline work. joining us is the senior professor and former head of the imf china division. always great to have you with us on bloomberg. let's start off with this jumbo enterprise in bonds. this was a new development and i wonder how much more concern to our, knowing that there is a possibility of more cross defaults and the opacity of how much debt obligation we don't know about. >> first of all, as you alluded to very clearly, beijing intends to make this episode a clear lesson to financial market participants and also to all the leveraged rowers. now, if you think about the broader ramifications about possible defaults by evergrande, there were two questions. what are the direct effects in terms of property for evergrande, and what are the c

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. i'm leigh-ann gerrans. this is bloomberg. ♪ >> we are emerging from a bottleneck. i don't see anything that suggests prices in 18 months will continue to rise. firms are having to pay for those shortages, but for the rise today, they will be a rise tomorrow. jonathan: danny blanchflower pushing back. always good to catch up with danny. good morning. we are down 12 on the s&p 500, -0.3%. we are just a little bit lighter in the face of the conversation about higher interest rates. tenure yields the highs. now at 1.5966%. tom is on $86 watch on brent. we are just shy of that. on wti, $83.61, up more than 1% after eight weeks of gains. tom: what i say that's what i see on a monday, really linking -- what i see on a monday, really linking commodities into oil we haven't had in 20, 30 years. something in the air out there. we've got to give a shout out to some of our commodity guests. they have been dead on. jonathan: when francisco blanch first started t

global news, 20 four hours on air and on bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. i vonnie quinn. amthis is bloomberg. haidi: robust growth, companies warning of headwinds. we would take a look at the numbers. coming up next, we get more insight on the earnings so far, with a chief economist and head of strategy who will be with us. this is bloomberg. ♪ haidi: -- sophie: -- kathleen: u.s. stocks at a record high, with inflation concerns and rising covid risks. we have shane oliver, a chief economist and head of strategy at a capital company, now joining us from sydney. so, shane, the earnings so far from the u.s. are, what, at most beating estimates? we got estimates from microsoft today. a little disappointing but moved higher. what does that tell you about the market and about the appetite around the world to keep buying stocks? shane: well, the earnings which is underpinning that demand, we obviously have higher inflation and the bond yield. if earnings make up for it, than it is not a big threat. that is what we are seein

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. this is bloomberg. ♪ ♪ >> they are very happy with over $70. i think by the time we had $90 or triple digits, they may get nervous about demand destruction. we are definitely still in the range they are quite comfortable with. jonathan: wonderful to hear from ellen wald. just fantastic, which is why you spoke to her after i left yesterday. thanks for doing that. tom: you were working on another property. jonathan: your equity market shaping up as follows. all-time highs, and we add some weight to that rally. the s&p 500 advancing 0.4%. yields in about a basis point on tens. euro-dollar positive 0.1% to $1.1619. crude with an $84 handle at $84.10. i have no idea if this source is verified or not, but on boiler up, here is the history. coach tiller coached in purdue and was loved by students at the time, but before coaching at purdue, he coached at the university of wyoming, also known as the cowboys. during his time, joe taylor use the phrase "cowb

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. i am juliette saly. this is bloomberg. manus. manus: thank. juliette saly in singapore. but tech titans have reported alphabet, microsoft, and twitter all hit the slate after the bell last night. laura wright joins me with the details. let's focus in on alphabet. first of all, the stock fell post market trading. where was the disappointing part of this? laura: the disappointing part was the cloud business which came in below analyst expectations. the unit continued to be lossmaking. on the call, the ceo said he sees continue to momentum but the real darling for alphabet was the advertising business and you can see here the advertising growth for alphabet, how it has continued quarter on quarter, coming in at $53 billion. manus: and the take away from microsoft and twitter. microsoft, it's going to be on those recurring fees but twitter, i hear you are building a bit of market audience. laura: microsoft, it was really incredible. this is the 17th co

global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalistsnd analysts in more than 120 countries. this is bloomberg. tom? tom: thank you very much indeed. coming up, commodities rally. soaring to an all-time high as a global rebound slides with supply shortages. this is bloomberg. ♪ tom: welcome back to the open. a little under 40 minutes or so away from the cash equity. futures in the u.s. pointing down by 0.1%. in europe, gaining just a small margin after a heavy selloff particularly on wall street yesterday with tech stocks weighing across the board. ok, the bloomberg commodities index has soared to an all-time high, rising more than 1% monday, and topping in 2011 record. that is as a resurgence in demand for raw materials collides with supply constraints, further banning fears of inflation's. the biggest gainers are energy commodities. suzanne is still with us. we have seen energy companies benefiting in of the back of these very high prices. we know that opec-plus is not coming to the rescue. it is sticking with its planned increases. ho

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. i'm leigh-ann gerrans. this is bloomberg. ♪ >> they may start tapering in november and you have a sharp quarter of tapering. they are going to win about and postpone any raising of rates. jonathan: nouriel roubini, ruby macro associates ceo -- nouriel roubini, were beanie -- nouriel roubini, roubini macro associates ceo. yields lower by two basis points to 1.5944%. in the fx market, 1.5552. tom: certainly, the houses are suggesting we grind higher. jonathan: we heard that from ed morse yesterday. could see $90 in 4q. we are almost there. $90 is not a big call. tom: there's two prices of oil. you quote wti, which i think is fine. going up, i look at brent. going down, i look at the lower-priced wti. i really don't know why i do that. i am looking at $84 oil right now. jonathan: tom just looking at some of the forecasts for q4 2021. wti, $79.39. so it is basically where we are. tom: it is where we are right now. in washington, annmarie hordern, it i

global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists d analysts in more than 120 countries. this is bloomberg. anna: juliette saly with your update. coming up, the hawks sound off. officials at the bank of england speak out about the need for a rate hike to stem inflation. this is bloomberg. ♪berg. ♪ anna: welcome back to the european market open. just under 40 minutes to go until the start of trading. european equity futures to the downside. to the bank of england conversation. two officials reinforcing signals that a hike in interest rates may be on the way as officials attempt to stem inflationary pressure. governor bailey of the bank of england warned of a potentially damaging period of inflation unless action is takien. -- is taken. bill dinning is still with us. what do you take away from the flurry of commentary? the markets almost fully pricing in a move by the end of the year. bill: it is interesting that they have moved in that direction. i think they probably should raise interest rates. if we go back to the question about fut

global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalistsnd analysts in more than 120 countries. this is bloomberg. anna? anna: thanks very much. coming up on the program, we will get to the earnings story. earnings season ramps up. what have we learned already about big u.s. banks and the earnings season more generally? we will get john's take. this is bloomberg. ♪ anna: welcome back to the european market open. futures point to the upside in europe, as they do in the united states. earnings season is in full swing and investors will hear two words over and over again. executives that s&p 500 companies mentioned supply chains more than 3000 times on investor calls so far. the new milestone is likely to be set once the third quarter earnings season concludes. john, you have upset me because i don't think you are all that excited about the earnings season and i think maybe we will learn a lot about supply chain concerns and inflationary pressures. your expectations seem lower. john: a little bit less than usual, a little bit more like a norma

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalistsnd analysts in more than 120 countries. kathleen: still ahead, we look at the process ask as this casino operator get two years to clean up its act. we will speak to a giving researcher. and, we discussed the market outlook from matt orton. this is bloomberg. ♪ kathleen: let's look at how the stocks are doing now. alphabet down, not as it was. solid profits and revenues, however, cloud computing numbers came in light. and microsoft -- microsoft, let's call it lackluster. sales up 10% or more. the 11th earnings beat in a row. looking real good. advanced micro devices coming in with a bullish forecast, their datacenter sales doubling. despite this, they are down two thirds of 1%. robinhood is down 8%. there crypto trading revenues have cratered. the outlook is not good, in fact, they decreased the amount of revenues the sea for this year to $1.8 million. -- $1.8 billion. let's get the specifics on where the market is heading with matthew orton, chief market strategist for carillon tower

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. i am vonnie quinn. this is bloomberg. >> still ahead, we discussed japan's efforts to confront racism in the workplace with professor hwaji shin. up next, time is running out for china evergrande group to avoid default. we discussed the latest impact with jenny zeng. this is bloomberg. ♪ >> evergrande is facing a potential default as a grace period for its latest interest payment expires saturday. our next guest says what happens next for evergrande is not as important as what happens to china. jenny zeng joins us pure great to have you back. what does this mean for the chinese economy as we into new to see more pressure for other developers as well? jenny: yes, you are absolutely right. to pay or not to pay is the question but probably a more important question is what happens to other developers? and what is the spill over the broader economy? if we look at the u.s. dollar market, this market wall small in the grand scheme of things is telling

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. this is bloomberg. mark, dani. dani: laura wright in london. we have the british natural gas opening up this morning, opening up to a record 330 pence. if anyone wants to know what it is, it's the amount of energy in natural gas equivalent to 100,000 -- british thermal units. one pound of water by one degree fahrenheit. i will admit i read that definition. i do not have it memorized. i will memorize it because this story is not going away. that is a record high on natural gas. coming up, we talk about 30 year yield hitting the highest since june. we get the take of activist investor's co-ceo next. this is bloomberg. ♪ >> i'm not saying the market will go down 20% tomorrow. i think it is really, really difficult to know. right now, it feels like we are in this goldilocks moment with the delta variant behind us, people coming back to value, rates rising. mark: that was the cohead of activist investor elliot investment management on the impact of risi

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. yvonne: all right, take a look at the data out of southeast asia today, dave. $1.1 billion trade surplus for october. imports also rose, a sign that things are looking better over there. covid-19 lockdowns had also put pressure on supply chains there. china will report its trade data on friday -- thailand will report its trade data on friday. malaysia will hand its budget in today. the fiscal deficit forecast, 6.1 percent of gdp in 2022. david: it is a good time to check out the southeast asian markets. as you know, that is a good place to be, for a long time, they had been wrong up until this month. it really has, life, this group of stocks, the best month for southeast asian stocks relative to the regional benchmarks. that is the difference in the monthly spread. 4.5 percentage points for the month of october. we don't know whether that will continue, but it has certainly come alive. part of this success stor

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. dani: juliette saly in singapore, thank you. let's get you set up for the day and take a look at today's trading. we have a lot of eco-data out of europe today. that starts with spain, and the data dump continues, we get italy, france, germany, eurozone and u.k. that continues stateside, we will get u.s. services pmi waiter in the afternoon, and -- later in the afternoon, and then manufacturing. plus, central bank's speakers to, we will hear robert altman, followed by christine lagarde at 3:00 p.m. london time. coming up, the selloff doesn't stop. the s&p 500 retreats to its lowest since july as a stocks in asia continue to slide. we will continue into the european session. futures up about 2/10 of a percent in the euro stoxx 50 futures. we will look at the action next. later, we also get the opec-plus steady as she goes approach, which alarmed the market, sending wti to the highest level since 2014. we will discuss that and the

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists analysts in more than 120 countries. this is bloomberg. dani: thank you sonny -- thank you. juliette saly in singapore. it tries to root out corruption. we will have that story for you, next. this is bloomberg. ♪ ♪ dani: welcome back to "bloomberg daybreak: europe." i am dani burger in london alongside manus cranny in dubai. markets heading lower for their third consecutive day when it comes to u.s. futures. and wall of worry to climb. let's get into these markets and the corporate picture with our guest. the senior multi-asset strategist at eight street. one statistic i was looking at that stuck out to me was authorization for buybacks. more than $870 billion for stock buybacks in 2021. it is clear that companies have a lot of excess cash saved up. how do you see them spending that? >> yes, companies have lots and lots of cash and it's really unusual for companies and consumers to emerge from the crisis in better financial condition then they came in so there is this war chest of min