and then place the bonds and close the bond sale. with that, i will -- before i close my presentation, i would like to introduce the members of our team who are here. they will be available to answer any questions that you might have. we have alexis chu our disclosure counsel and is the primary author of the preliminary official statement. next we have david broadley who is a municipal advisor. previously called financial advisor. gary kidhada. david neely from urban analyst. david puts together fiscal consultant report which has extensive information at the end of the p.o.s. basically supports all the representations regarding the payments. it's a critical role. with that, i complete my presentation and invite any questions. >> chair bustos: thank you mr. daigle. do we have anyone from the public who wishes to provide a comment on this item? >> clerk: members of the public who wish to provide public comment on this item should call 415-655-0001. enter access code 2482 190 7334. followed the pound and pound sign again. if you already

this isn't a roger moore bond. - isn't a roger moore bond. both speak. it isn't a roger moore bond. :, , :, , both speak. it is a more serious bond. i both speak. it is a more serious itrond- i think _ both speak. it is a more serious bond. i think daniel— both speak. it is a more serious bond. i think daniel craig - both speak. it is a more serious bond. i think daniel craig is - both speak. it is a more serious bond. i think daniel craig is still i bond. i think daniel craig is still my favourite. he's made the role his own, and his films have an arc. that kind of do have... i still have a fondness. they are a compact unit, and its long, but i felt it earned it. i and its long, but i felt it earned it. :, :, ., it. i thought it got away with the length because _ it. i thought it got away with the length because i _ it. i thought it got away with the length because i was _ it. i thought it got away with the length because i was little - it. i thought it got away with the . length because i was little nervous. actually, they totally got away with it. if actually, they totally got aw

and then place the bonds and close the bond sale. with that, i will -- before i close my presentation, i would like to introduce the members of our team who are here. they will be available to answer any questions that you might have. we have alexis chu our disclosure counsel and is the primary author of the preliminary official statement. next we have david broadley who is a municipal advisor. previously called financial advisor. gary kidhada. david neely from urban analyst. david puts together fiscal consultant report which has extensive information at the end of the p.o.s. basically supports all the representations regarding the payments. it's a critical role. with that, i complete my presentation and invite any questions. >> chair bustos: thank you mr. daigle. do we have anyone from the public who wishes to provide a comment on this item? >> clerk: members of the public who wish to provide public comment on this item should call 415-655-0001. enter access code 2482 190 7334. followed the pound and pound sign again. if you already

as you may be aware, we've done a lot of bond issuances in cal 2021 for transportation, the housing bond, the easter bond, we've done multiple instances. for the remainder of this fiscal year, we are potentially looking at the followup issuance for some of the homelessness and d.p.h. projects for the health and recovery bond that were not issued in the first issuance and we've been in contact with the port and they're working on their approach for the next issuance. so we have a place holder in the calendar for them as well, but we'll know more probably early next year. additionally, we may move forward with refunding of geo bonds if there turns out to be savings that we can achieve in the spring. so nothing really changed since the last time, but i'd be happy to take any questions. >> chairman: if there are no questions for public finance, we'll move on to b and c which are the audits division with mark dela rosa. >> yes. thank you. i'm here. for the expenditure audits, there are no new updates. we do have one expenditure audit that is on our current year work plan which is on the 2018

i think the thing about this is it is one of the bond movies that's actually about bond. service is about him and, in fact, in the same way that the timothy dalton movies are about him. i really like it. it has proved quite divisive. the people — there are some people i know who really don't like it because they think that it breaks bond rules. ah! but i like that about it. did you find yourself swept up in it? for the most part, yes — and the thing i liked the most was that there were a few flashes of humour. i love that. yeah, yeah. i don't — i want my bond to say something a little bit caustic or say something with a bit of glint in his eye. 0k. so, you want sean connery, roger moore? roger moore, yeah, i'm afraid. 0k. i know people won't all agree with that, but... well, i think this isn't a roger moore bond but there is something with the gadget stuff. there is a few flashes — i laughed a couple of times — that's good. there are some gags in there but it is a more serious bond. you know, i still think daniel craig is still my favourite bond. i think he's made who's m

bond versus regular bond. >> we're happy come back and we do the bond sale. and at the same time, we can give you our past experience with issuing green bonds. we are recognized leader both nationally and internationally of green bond issuance. i would be remised if i didn't get a shot out to michael brown and my staff. he's passionate about this. spends lot of time working on this. really helped evolve this market for us. >> vice president ajami: i second that. i did with michael before i joined p.u.c. he was very helpful and knowledgeable. i'm glad that he have for the staff. i'm glad he's moving, leading this effort. that's really great to hear. >> thank you. he continues to do the good work. he continues to make us a leader. >> vice president ajami: thank you. >> president moran: commissioner harrington? >> commissioner harrington: than k you. thanks for that last conversation. i do lot of work in this area. people say what's the green bond and why should i bother. the response is usually, the marketing issue. money isn't different. it's a marketing issue

and the obvious thing you should be doing then usually is sell bonds because bond yields will rise and prices will fall especially if the yields are low because you don't have much fixed income to protect you and that is very much the case and purchase shares. why? if central banks are looking to tighten policy, that means the economy is going well which means earnings that have held up well will continue to hold up well and it also means that shares offer a much better short to medium-term outlook then bonds do care it i think that is driving bond yields rising. how things go further on especially if we got a situation where central bankers end up being pushed i these inflation concerns to raise much faster than might -- then they might otherwise want to because then you could kill -- then you could see some softness and shares. >> garfield reynolds. you can follow more on this story and all of the day's trading on our markets live blog on the bloomberg terminal at mliv . we have been trading for about 10 minutes in australia. one of the best performers right now is zantas -- qant

bonds.eing a bit of a surge when it comes to aussie bonds. today perhaps will be the day we see an unscheduled event. the curve has steepened. the 10 year yield is following overnight treasuries moved higher. laggards including the likes of financials despite a robust to be on the back of deal making and expectations of another capital raise. we are seeing leaders in health care across the border markets trading lower. kiwi stocks trading higher by about 0.25%. we did hear from the rbnz governor. the kiwi dollar is trading just sigh of -- just shy of 72 u.s. cents. one of the world's most dovish central banks has been backed into a corner. a bond rout threatening to shred the credibility of policymakers. let's bring in ahead of economics and strategy. you are seeing when it comes to the behavior is and bond prices the theory people believe that perhaps you will see that unscheduled operations from the rba today to rain and -- two rein in targets. where does this leave the central banks? are

bond market, much less of a risk than the global and emerging bond market.ven though debt to gdp ratios are much higher in advanced economies, emerging debt ratios are at the highest they have ever been. this was a lot of the talk between the world bank data released a couple weeks ago. there is concern that if we see bond rates move up in the u.s., not only could they move up and emerging markets but the credit spreads could widen even further presenting a downside risk to slowing growth, especially in 2023 and beyond. haidi: i want to end on energy and what is going on in china at the moment. given the fragility of the economic recovery and we are starting to see delta play out there as well in an unfavorable way. how big is the risk to china and how is this potentially changing the conversations we see going into cop 26 at of --26? guest: 26 is the greatest desolate's number in china. if you look at a 70 average in the u.s., it is over 73,000. there is a increase from zero? yes. it is a very low number in china. the pmi's will be something to watch. they

enjoy bond, enjoy bond! i can't wait! i've booked my tickets. this weekend. see you next week, bye—bye. hello. saturday was a soaker where you are. sunday will be a much brighter day. there will still be showers around and it'll still be windy, but there will also be spells of sunshine to be had, as well. of course, low pressure responsible for the soaking rain which affected some parts of the uk on saturday. for sunday, it's close to northern scotland — this is where we'll start the day with the strongest winds, and the northern isles, especially shetland, gusting 60—70mph. starting temperatures — the coldest areas will be across the north of mainland scotland, some areas close to freezing as the day begins. most of the early showers will be in western areas. they will travel gradually further east as we go on through the day, and by the afternoon, many of the showers will be reasonably hit and miss, though a longer spell of rain pushing back against northern scotland and the northern isles. these average wind speeds will gust up to 35—45mph. v

, james bond."kind of -- those that have been there before -- i mean, i'm so tied up with saying it. >> jimmy: yeah. >> i can't really figure -- >> jimmy: you, yeah. but i would stand there like, "he just said it." [ laughter ] you know? >> they may do, they might do, i don't know. >> jimmy: do you have fun with that, think about going -- >> we tried to have a little bit of fun in this one. >> jimmy: well, you did it in a kind of way. >> i always tried to kind of subvert it a little bit. i feel like the weight of it is so great. >> jimmy: yeah. >> the first time i say it in "casino royale," in a documentary i talk about it. literally, i couldn't say it. i was like -- ugghhh -- [ mumbling ] suddenly the whole kind of like, you know, 20 movies or however many, the weight is there. it comes out eventually. i kind of always wanted, like the "shaken, not stirred." one of the great lines in "casino royale," he says, "shaken, not stirred?" i say, "do i look like i give a damn?" that was the reason i did th

enjoy bond, enjoy bond! i can't wait! i've booked my tickets.d. see you next week, bye—bye. hello. the chance of showers on monday before another spell of wet and windy weather hits parts of the uk overnight monday into tuesday. now, we start monday with a few heavy and possibly thunder a shower is running across south east england and east anglia. they look they are away for much of the day. the eastern side of the uk is still largely with a hit and messed shower. sunny spells, highs of around 13— i7 celsius. breezy, later when things scotland and northern ireland. rain pushing into southwest england and wales on monday evening will be happy. that pushes east across england overnight and into tuesday. some showers far behind, a slow—moving band of wet weather well sit down to stay close to parts of northern england, perhaps running into southern and eastern areas of scotland. that's one to watch. something to play for in the detail, and around this area of low pressure, strong winds at the risk of gals and places. now, on tuesday, could well be

wei have no time to die, james bond have no time to die, james bond is back finally. we have next door which is a satirical psychodrama. and we have redemption of a road which is a dark musical comedy. l which is a dark musical comedy. i almost feel nervous for the producers of bond. there feels like there is so much riding on this for british cinema. it’s there is so much riding on this for british cinema.— british cinema. it's been such a lona wait british cinema. it's been such a long wait for— british cinema. it's been such a long wait for that _ british cinema. it's been such a long wait for that 18 _ british cinema. it's been such a long wait for that 18 months. i british cinema. it's been such a i long wait for that 18 months. until the first thing to say is i know you haven't seen it yet and many peoples start this weekend. let's not discuss plot at all ok? let's just say that after having been delayed for so long obviously people have got huge expectations. and i a chilly thought it was pretty good and better than i expected. it has seriousness of on her maje

why are bond -- people in the bond market -- you ask this of me every day.t the same time people say the economy is not the market. then what is the true reflection going on. tom: i'm getting the watching fox sports 12 new saturday. best football game in college football. nobody in the stadium, a 100,000 people, no one is as -- as watching surveillance. kailey: the point about whether it sending signals is a good one. it's come up over the course of the pandemic era. the equity market hasn't figured out yet. or they focus on earnings growth and companies resilience in the face of supply chain pressures. i would also note a lot of the movement in the bond market has come from higher inflation expectations. real yields are still very negative. we still have deeply negative real yields, can risk assets to ok? tom: we walked through the yield real -- real yields equation. who is doing the real yields tomorrow? >> i think taylor is paid -- is doing it tom: nominal yield minus inflation is the real yield. the residual. which of those three things matters, nominal,

as you may be aware, we've done a lot of bond issuances in cal 2021 for transportation, the housing bondeaster bond, we've done multiple instances. for the remainder of this fiscal year, we are potentially looking at the followup issuance for some of the homelessness and d.p.h. projects for the health and recovery bond that were not issued in the first issuance and we've been in contact with the port and they're working on their approach for the next issuance. so we have a place holder in the calendar for them as well, but we'll know more probably early next year. additionally, we may move forward with refunding of geo bonds if there turns out to be savings that we can achieve in the spring. so nothing really changed since the last time, but i'd be happy to take any questions. >> chairman: if there are no questions for public finance, we'll move on to b and c which are the audits division with mark dela rosa. >> yes. thank you. i'm here. for the expenditure audits, there are no new updates. we do have one expenditure audit that is on our current year work plan which is on the 2018 improv

a green bond issued by the eu?you want to pay up for that? bilal: i think it depends on what your underlying mandate is as an investor. certainly there's a huge munter pressure from asset managers to have exposure to esg and green bonds, so the eu issuing these bonds and becoming one of the largest issuers, there is a clear green taxonomy, it is a very safe thing for investors to do, to buy these bonds, have exposure, and have the confidence that the bonds you are buying our green, according to one of the leading environmentally sensitive regions in the world. from that perspective i think it makes a lot of sense. whether it makes sense from a pure return perspective, that is less clear-cut because these bonds have a so-called greenium, which means they tend to yield lower than a regular bond. so i think it is useful if you have a mandate, and it is an easy way to get that exposure. from a return perspective, it is less interesting. guy: we are about to spend a lot of money moving society to a more sustainable futu

from bitcoin to bond, james bond, the release of the 007 franchise, no time to die, hitting u.s. screens. we will tack to a hollywood insider -- we will talk to a hollywood insider about money in the movie biz post pandemic. superfans of comic books superheroes frolicking in new york city this weekend. we take you live to comic-con, the biggest convention to hit the big apple since the start of the pandemic. the september jobs report, a little something for everyone. let's do the positives first. the unemployment rate ticked down to 4.8%, but the headline number, that was a major letdown as the economy added just 194,000 jobs last month. labor secretary marty walsh says the delta variant is holding the economy back. >> the hospitality number 74,000 job gained in that area. that was expected to be much higher. because of the delta variant, people saw less people going to restaurants. there's concerns around that. >> the fed has been preparing to slow its 120 billion dollars per month bond buying program. let's get straight to the floor show. we have david trainor, the ceo of new c

can you walk me through what this means to the bond market?> yeah, thanks for having me on the program, jon. it's more about where expectations for growth are going to be heading. we have already had the slowdown in growth that we have seen, and we need data that gives people a better perspective or more optimistic perspective on 2022. for us, you can have both sustained high inflationary pressures as well as a rebound in growth expectations. eventually the data will follow, we think. we think both of these factors will press bond yields higher into the end of the year. jonathan: do you agree? >> we do agree. when you look at economic growth and expectations, we probably hit peak growth, but are not decelerating and are going to go back down to zero. growth ratings are still very strong. we saw strong ism manufacturing this morning, and when you couple that with inflation pressures that are higher than a lot of people have seen, given the influence he expected, that should lead to higher yields at the end of this year. we think the treasury yi

and then place the bonds and close the bond sale.i will -- before i close my presentation, i would like to introduce the members of our team who are here. they will be available to answer any questions that you might have. we have alexis chu our disclosure counsel and is the primary author of the preliminary official statement. next we have david broadley who is a municipal advisor. previously called financial advisor. gary kidhada. david neely from urban analyst. david puts together fiscal consultant report which has extensive information at the end of the p.o.s. basically supports all the representations regarding the payments. it's a critical role. with that, i complete my presentation and invite any questions. >> chair bustos: thank you mr. daigle. do we have anyone from the public who wishes to provide a comment on this item? >> clerk: members of the public who wish to provide public comment on this item should call 415-655-0001. enter access code 2482 190 7334. followed the pound and pound sign again. if you already on the phon

a bond ladder works well. as bonds come up, they are replaced with higher-yielding bonds. a disaster for the past four decades. lisa: exactly to this point. there was a story in the terminal this week that got a lot of attention that talked about the biggest yearly loss we're are seeing right now and global bonds going back to 2005 and potentially poised for the worst since the late 1990's. how much we entering a new terrain with inflation expectations moving up pretty significantly at a time when we do have some new characteristics in the economy? barry: do we want to get into the inflation discussion or do we want to put that aside? lisa: go for it. barry: i think most people are getting inflation wrong. sarah from wells fargo seems to have the right concept as does kathy woods. the dominant backdrop is deflation, not inflation. we have all of the supply chain problems, all of these reopening issues. making a more complex is the fact that we have had a massive bottom half of the labor market reset. you will not see the same sort of wage gains in 2023 people see in 2021.

." >> bond, james bond. >> daniel craig's final role as bond breaking records and all the 007 secretsitting the screen overnight. >> we all have our secrets. >> this morning, the woman making bond history joins us live. ♪ >>> shaken not stirred on a friday morning. good morning, america. great to be with everybody on a busy morning. >> very busy, a lot of news and some of it encouraging including the latest in the fight against the pandemic. pfizer formally asked the fda to authorize emergency use of its covid vaccine to children 5 to 11. >> that's right. set to consider the application for october 26th. if that agency and the cdc both give authorization, shots could start in early november. steve osunsami starts us off from cdc headquarters in atlanta. good morning, steve. >> reporter: good morning to you, cecilia. the fda is promising to move quickly on this and a decision could come by the end of this month. it's what many parents have been waiting for and others this morning are fearing. drugmaker pfizer says it's ready to vaccinate children, and is now requesting emergency author

as you get repricing from the kiwi bond, the aussie bond. i go back to steven major and it sits in my hand. when they move, it sets the tonality for the rest of the global markets. just had a conversation and they made it clear equities could levitate for a while but there is a risk that if central banks raise rates and you have gas prices rising, tax rising, rates rising, it is a potential car crash where you go through the windscreen. that is the central bank conundrum. kiwi paper on a five-year yield, over 2% bit this is the risk. -- over 2%. this is the risk. dani: the risk is what bank of america has been talking about as well. 2020, the stock markets went through was gross, 2021 is inflation, and 2022 could be a rate shock. what does that mean for risk markets? you want to sell those risks and equity and credit markets. that may show you what is happening on the board. we have a weaker s&p 500 future, down 1/10 of 1%. those rate shocks feeding into an environment were you want to sell risks. the five-year yield, we are folky -- we are

[laughter] turning back to the bond indices with china, international ownership of bonds as of septemberreased. it is still fairly low, at 10.6%. it could rise to 15% in the next couple of years. but when you look at the computing markets in terms of developed markets and em, it should be much higher. the peculiarity is the bond markets are performed every other market. so it is still underweight. david: you are one of the biggest goals at that, hsbc. some of your forecasts are 2.5% on the 10 year by the next year. take us through your thinking? andre: we have talked about the chinese government. we continue to pound on the table. it is not just about returns. it is about stability of returns. there is a good case to be made with the deceleration in growth, and the more stimulus coming -- the piecemeal stimulus coming. yvonne: does that include a rrr cut? andre: no, that liquidity. if there is a rrr cut, it will be delayed,, the internet year rather than this year. yvonne: there have been people saying if there is drawback to this acquisition that it is becoming mainstream that perhaps y

this is specifically to do refunding of prior bonds previously issued bonds. we do anticipate that by doing this refunding we would be able to secure lower interest rates and save taxpayers 20 to $24 million and furthermore by timing this refunding with that of the new money bonds we will save the costs of issuance. i am happy to answer any questions. thank you. >> thank you, chief wallace. check for public comment. >> if you care to speak to item 2 please raise your hands at this time. please repeat in spanish and chinese. >> questions or comments from commissioners? seeing none, roll call vote. >> thank you. a2. alexander. >> yes. >> boggess. >> yes. >> lam. >> yes. >> moliga. >> yes. >> sanchez. >> yes. >> lopez. >> yes. >> six ayes. >> section h we have done. section i other educational issues. fall 2021 enrollment data update. >> thank you, president lopez. presenting this evening will be a team. beginning with deputy superintendent of housing operations. >> thank you, dr. matthews. we have a presentation tonight updating all of you about the latest enrol

huge moves in the bond market. manus: i have this vision in my head of a 400 phd's telling the fed -- chill out. i'm not sure that's the way it goes. i'm going to interrupt everything -- i have sound all over the place. a big red headline, erickson. the market was looking for 7.63 billion swedish krona. i think blackrock sees the inflation as transient. your take? dani: i think they are making an argument for risk markets. you have blackrock saying perhaps it runs out whereas a lot of edge is saying don't worry about stagflation. it's an argument we have heard many times on the show. manus: absolutely, we have blackrock, scott bailey wanting to be long on paper. i think the nuances about whether inflation tops out last year as of fed analysts are saying aren't in the market at all, the market does not price our view there will be a moderation in inflation, it will be limited into the underlying inflation will materially step up. that plays to the let's get long of value and economically sensitive stocks. dani: can

>> we decided to issue a retail dollar bond.e quite surprised that we -- that the uptake was four times more than we were expecting. as you know, we have relied mostly on domestic finance for our financial needs. up to 75% of our barbary is done -- our borrowing is domestic. we decided to open the market for retail dollar bonds. we have a lot of foreign workers who hold dollars. the banks are giving the interest rates. we decided to give our small depositors a chance at buying retail dollar bonds. you can buy retail dollar bonds in small quantities like $300. and you can buy it on yourself i'm. >> i will have to look at myself i'm. in terms of overseas sales come are you planning any for early next year? >> we are looking at a possible issuance of bonds. we issued three very successful bonds this year. $3 billion in the u.s. market. we issued two and a half billion dollar equivalent in euros and around $500 million in the samurai market. now we are looking at the three items we look at always. what are the rates people are willi

yields on the bond market to 1.5932%. we are doing this with expectations of higher interest rates at the fed. never mind tapering. we are doing this with a serious conversation about hiking at some point next year. tom: maybe that is the shoe to drop as the past two higher rates drifts away. i would suggest is we are doing this market lift with commodities signaling global demand. jonathan: branch to $85. wti, $83.50. lisa: the fact that the market is still rallying shows resilience, and frankly, it is ironic that individuals have pushed back. if the market basically giving them a green light? 8:30 am, euros housing starts and building permits. the expectation is to stay high. the idea is we are going to be talking about supply chain disruptions, labor in short supply. zillow crashing more than 11 prevent yesterday after saying they were going to stop buying homes and flipping them. they just don't have the people available to do the renovations and get it out on the market. the mocon institute is having its second day o

this is specifically to do refunding of prior bonds previously issued bonds. we do anticipate that by doing this refunding we would be able to secure lower interest rates and save taxpayers 20 to $24 million and furthermore by timing this refunding with that of the new money bonds we will save the costs of issuance. i am happy to answer any questions. thank you. >> thank you, chief wallace. check for public comment. >> if you care to speak to item 2 please raise your hands at this time. please repeat in spanish and chinese. >> questions or comments from commissioners? seeing none, roll call vote. >> thank you. a2. alexander. >> yes. >> boggess. >> yes. >> lam. >> yes. >> moliga. >> yes. >> sanchez. >> yes. >> lopez. >> yes. >> six ayes. >> section h we have done. section i other educational issues. fall 2021 enrollment data update. >> thank you, president lopez. presenting this evening will be a team. beginning with deputy superintendent of housing operations. >> thank you, dr. matthews. we have a presentation tonight updating all of you about the latest enrol

bond mr. craig. craig "no time to die" is in theaters and imax right now we'll be right back with meghan trainor, stick around [ cheers and applause ♪ someday you'll catch the perfect wave. with an average of $550 worth of benefits to enjoy during your stay at fine hotels & resorts properties, "someday" can be any day you want. one of the many reasons you're with amex platinum. with clean, fresh ingredients, panera's new chicken sausage and pepperoni flatbread is a mouthwatering explosion of yes. craft? yes! heartiness? yes! living life to the flavor-fullest? heck yes. panera. live your yes. now $1 delivery. the best things america makes are the things america makes out here. the history she writes in her clear blue skies. the legends she births on home town fields. and the future she promises. when we made grand wagoneer, proudly assembled in america, we knew no object would ever rank with the best things in this country. but we believed we could make something worthy of their spirit. spray, lift, s

there are pretty punchy moves in greek bond yields.there anything that you would be buying right now? marilyn: at the moment we are still long-duration in italy, spain, greece, we are long-duration. short-duration in germany and the u.k. we also like small occasions in emerging markets and we like the corporate market but on a specific perspective. we like cash income-generating tech companies, we like health care bonds. it is on a case-by-case basis. those companies that can continue to generate high levels of cash and are investing in the future and in tech we continue to like. alix: why are you long here? is that technical, a metv thing, or something on fundamental? marilyn: at the moment i think we continue to like some of the carrion fiscal year then we will continue to see the spreads compressed. when we do start to see a shift -- we continue to see improving data in terms of gdp. inflation is still below the long run ecb target, but it's beginning to shift up a little bit. i think in terms of the bond market we want to get the c

the bond market is getting all of the attention. yields are down even with all-time highs, and the bond strategist on the front end of the yield curve, higher inflation expectations, as well. it is a sharp break even. we are breaking back max into thousand two. this is the breakeven, and what it is is tracking the real yield curve from the closest nominal treasury maturity, so let's take fives on fives, and you come up with just short of three. we had three earlier. that is the implied rate of inflation on maturity. this is the highest on record. you can see the buildup over the last year. inflation expectations are building again, and at the same height --, time, rate hikes are as well. tom: i would suggested shades of gray of transitory. i have real trouble on transitory and court costs. like a gallon of gas, and i got upset on rent. jonathan: we can talk about that a little bit later. or do you want to talk about it now? the rental increase in my family --. tom: the rent increases we are seeing, all blank raisins is -- acquaintan

bond die.will see. >> is not the only franchise getting the makeover. x men is also, anything with men in it is on the chopping block. we don't call them men anymore. >> but if you want to be inclusive, the new marvel president back in 2019 suggested dropping the men from x men calling that outdated. they flipped this into a movie. >> it is funny, i can't remember the last time you were the one risking something, and by the way, the women are always saving the men, you might want to change them to x women. >> maybe x folks would be -- i am really looking forward to the upcoming marvel releases. how about spider person or iron being or maybe and x, if you can have latin x, let's call them all x x or x x. no one will come at all because people will get a totally different idea. laura: i don't go to any of these movies, none of them are any good. it is all green screen computerized crap. none of it. i hate it all. >> moving from one confusion to another. i am perplexed by these covid is at the whi

we have gic doing that with these evergrande bonds and chinese bonds, generally. lim chow kiat is the ceo. he talked about the strategy at the bloomberg invest global conference. >> we believe -- actually the problem has been quite --, as well. you might recall for a number of years china, talked about the need to rein in financial leverage. on top of eliminating poverty, on top of environmental pollution, these are the three big evils we have to tackle. so i guess it is another case that first big challenge they are trying to wrestle. if you look at the balance sheet the central government has, and the regulatory power, we think they have significant control over their situation. so we don't expect it to be systemic. there will be some pain inflicted on certain segments of the value chain. but we don't expect it to be a big systemic problem. >> would you by chinese bonds right now? would you buy evergrande bonds right now? >> do the homework. >> is yes or a no? >> selectively, yes. it cannot be a brash thing. any market, you cannot approach it on a top-down broad

and then place the bonds and close the bond sale.ll -- before i close my presentation, i would like to introduce the members of our team who are here. they will be available to answer any questions that you might have. we have alexis chu our disclosure counsel and is the primary author of the preliminary official statement. next we have david broadley who is a municipal advisor. previously called financial advisor. gary kidhada. david neely from urban analyst. david puts together fiscal consultant report which has extensive information at the end of the p.o.s. basically supports all the representations regarding the payments. it's a critical role. with that, i complete my presentation and invite any questions. >> chair bustos: thank you mr. daigle. do we have anyone from the public who wishes to provide a comment on this item? >> clerk: members of the public who wish to provide public comment on this item should call 415-655-0001. enter access code 2482 190 7334. followed the pound and pound sign again. if you already on the phone an

the record—breaking newjames bond record—breaking new james bond film record—breaking newjames bond filmd.— certainly helped to create an optimistic mood. bond was the only show _ optimistic mood. bond was the only show in — optimistic mood. bond was the only show in town. _ optimistic mood. bond was the only show in town. certainly i optimistic mood. bond was the only show in town. certainly in| only show in town. certainly in this town. 732 screens in this town, the widest open film other. good luck trying to see a film that isn't bond this weekend. i thought it was a tremendous bond movie, a very different bond movie but one thatis different bond movie but one that is essential viewing. daniel craig's tenure of bond has been essential in keeping that going. a global star, probably the biggest star that everyone is talking about in the world right now. it has been a long time since that mantle has belonged to a brit. in the film directed by ridley scott opening at the box office this weekend. kenneth branagh. it is a difficult one. —— the last duel. ridley scott has had success with th

and then place the bonds and close the bond sale. with that, i will -- before i close my presentation, i would like to introduce the members of our team who are here. they will be available to answer any questions that you might have. we have alexis chu our disclosure counsel and is the primary author of the preliminary official statement. next we have david broadley who is a municipal advisor. previously called financial advisor. gary kidhada. david neely from urban analyst. david puts together fiscal consultant report which has extensive information at the end of the p.o.s. basically supports all the representations regarding the payments. it's a critical role. with that, i complete my presentation and invite any questions. >> chair bustos: thank you mr. daigle. do we have anyone from the public who wishes to provide a comment on this item? >> clerk: members of the public who wish to provide public comment on this item should call 415-655-0001. enter access code 2482 190 7334. followed the pound and pound sign again. if you already

u.s. bond markets closing monday for the holiday. officials speaking to the week, with bostic on the calendar. and oh fmc minutes and bof a and rounding out the week with retail sales on friday. back with us for final thoughts, let's get to the rapid fire. three quick questions, three quick answers. right now, yields are up re-basis points. the height over the year marking the end of q1, can the fed take out the higher of the year before year end? yes or no? bob michele? >> yes. jonathan: bob miller? >> yes. jonathan: winnie? >> no. jonathan: is the light green for tapering still? is the light still green for tapering, yes or no? winnie? >> absolutely yes. jonathan: bob miller? >> yes. jonathan: bob michele? >> the field has been tilted too long to borrowers. it is time to tilted back to savers. tapering starts. jonathan: very go. that sounded like a speech, bob michele. the third and final question, we talked about price issues all the time. they are well known and well discussed. i am trying to understand if they are peaking. give

he said don't expect the rate lift off to occur soon after the bond taper and. -- after the bond taper ends. today he said if inflation gets more, the fed would be have to be more aggressive in terms of the rate lift off next year. also today, the ceo of blackstone said he thinks inflation is getting more persistent. that is another strong reading. he said all the pandemic support , that will pour a lot of cash into the system. that is still there. let's listen. >> inflation is becoming more pervasive, more persistent than people had hoped. i think that is happening for couple of reasons. one is money supply has grown significantly by more than a third covid which has -- is a monetary physical response to the crisis. at the same time, we have big structural shortages. >> markets are starting to price in to rate hikes -- 28 hikes in 2022. bond yields -- the belly of the curve starting to respond to this idea that there may be two rate hikes. shery: we are watching the bond markets in china. we are heading toward the grace. ending for evergrande. >> it is crunch time for them as the expi

we could talk about the bond market all day long. crazy, clearly a market with higher inflation, then thinking it is going to cause more early, may be premature policy tightening that will choke off growth. at the same time you have an equity market right around highs, but that will change because apple and amazon, two of the faang stocks of that are no longer going to be faang stocks because the "f" is gone. tom: we will see. we have a president on his way to meet with the president of italy and his excellency, mario draghi. i love saying that. this after meeting with pope francis at the vatican. please stay with us for the day. we will be following the president in rome at the g20 meeting. this is bloomberg on radio and on television. ♪ lisa: from new york city, i am lisa abramowicz. the countdown to the open starts now. >> everything you need to get set for the start of u.s. trading, this is "bloomberg the open," with jonathan ferro. lisa: we begin with the big issues of supply constraints out staying there transitory welcome. >>

bond not only has to save the world, but maybe an entire movie industry.lace than the royal albert hall for the glittery, global premier in london. it's the last time daniel craig walks this red carpet as james bond, sharing the spotlight with royalty, as he bids farewell to a role he's held for more than 15 years. >> i'm incredibly proud of the work we've done and what we've achieved. and of course it'su with some sadness but time to move on. >> reporter: when he first came on in "casino royal" he was set to change many things. >> she had to twist his arm to say yes and he said i'll do it but i want input. i want to change this character, give him more depth. >> reporter: craig's bond was unafraid to show heartbreak, betrayal and moments of self doubt. he, himself, labelled bond a misogynist. 007 had to evolve to survive. >> i think the emotions we talk about in the daniel craig era, they feel realistic, to me. i don't see them as weakness. they show james bond as a real person, a three-dimensional character. >> reporter: apparently emotional on and off s

reporr: you're playing james bond?aig is say bon voyage to double-o-seven, a role that takes a toll. >> while i'm filming, i'm a nightmare because i'm sort of in this, like, tunnel vision of work. and i think my wife kind of likes it when he leaves. >> reporter: why daniel craig is leaving, and what he thinks about a secret agent successor, ahead on "sunday morning." >> pauley: serena altschul talks with robert lugo. kelefa sanneh takes us back to his punk rock roots. lee cowan gets a read on best-selling already anthony doerr latest page turner. john dickerson looks back on quite a week and we washington. plus steve hartman, a commentary from a recent harvard grad that will truly amaze, and more on this first sunday morning of the new month, october 3rd, 2021. we'll be back in a moment. ♪♪ [trumpet] ♪♪ working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue when he retired after 47 year. now 's sng a w nerationologll a as an employee-owned company, recology provides go

do i buy some bonds? would it be shockingly bad for me?iona: for the moment, we prefer to hide where inflation will break even because we think bonds could still go up, especially if there is a change in monetary policy. we by cyclical shares with cyclical commodities, and we buy dollar because we think the dollar is a different place for currency. dani: you are going to drive manus to embrace his inner bear even more. you mentioned evergrande and china. what is the mechanism for transmission if that does indeed go on to affect global earnings and global markets? fiona: first of all, we don't think evergrande is a moment. there is no systemic risk with evergrande because it is much less connected to the rest of the financial system. nevertheless, evergrande goes bankrupt, then perhaps other players have the same. perhaps it has an impact on china where real estate is a large part of gdp. we imagine the government will do everything it can to refinance evergrande. beijing is putting liquidity into the markets in order to make sure there is

this isn't a roger moore bond. it is a more serious bond.azenby. they are a compact unit, and its long, but i felt it earned it. i thought it got away with the length because i was little nervous. actually, they totally got away with it. if you're going to be longer than 2001, you better have a really good reason. we all enjoyed it. definitely worth seeing. dvd, streaming, what else is around? dvd, so deerskin... how to describe this... a man falls in love with a deerskin jacket which turns him into a serial killer. the best way to describe it is it's between man bites and dog peter strickland's movie in fabric, great performances. jean dujardin is actually very wonderful. it's odd, but at the moment, with something as big as a bond movie in cinemas, i like the idea that there are these other things that are totally strange. i'm still not sure with fever dream. i really did enjoy this and i watched it again. thanks very much, mark. see you next week. enjoy your cinema—going. see you next time, bye—bye. hello again. friday was another very mi

let's get to the bond market story.ve talked about the bond flattening theme and what that has done to markets. it has certainly taken the edge off the asia-pacific session. the brent crude prices down by 1.8%. it is of the second day of weaker oil prices. stocks have been rising in the united states, and there are questions about iranian supply, when that comes back on stream. it seems the tech sector still very much reflecting the earnings story, fairly mixed. it is decision day for the ecb. president christine lagarde faces the task of readjusting rate inflation. joining us now is our reporter maria tadeo. no further action is expected, but it does seem to be joining the debate about policy moving forward. we are exciting pushback around market expectations. maria: yes, anna. the market is very well briefed, so we are not going to see any actions into monetary policy today. nonetheless, we are being told that inflation will be the key theme in this governing council meeting. there is until now or has been a line that

here's the bond market story. get to the italian bond market and the u.s. bond market as well.lly see some central bank divergence between the ecb and the federal reserve going into next year? united states right now is staring down tapering. yields doing nothing today. yields in five basis points. tom: here we go. jonathan: the ecb, according to our team in frankfurt, studying a new bond buying program to complement the old bond buying program to replace the more recent bond buying program. tom: so what of that? jonathan: the emergency bond buying program, so-called pepp, had a ton of flexibility. what replaces it? that is the so what. do we have that flexibility once the pandemic emergency purchase program ends? yields in italy, a nice rally for bdp. did you get all that? do you feel ok this morning? do you feel good? tom: i am seeing negative yields come up. german tenure comes up a little bit. swiss 20 years positive. jonathan: he's very sensitive this morning. lisa: he is. jonathan: it's ok. one more day. tom: i know, one more day until the red sox confronts the tampas. jo

they have issued's benny bonds and have a lot of -- they have issued so many bonds and have a lot ofredits coming due. they are trading under distress, and because they are in a distress situation, that is obviously dragging down the evaluations you see on other chinese property names. the property sector is one of the largest in the asian high-yield space. when investors see the effects on one issue, they are bound to want to see compensation on other names as well, and then, of course, it spreads to people completely unconnected to property as well, the whole asian high-yield sector needs to have a re-rating. when you have such high yields available on a few names, so until there's more clarity on what will happen with the outstanding payments, it will be a major concern for everybody to invest in china high-yield. when a new bond comes to the market, investors will be demanding a much greater premium, so it gives them a cushion against anything going wrong. the volatility in the sector will have to be priced into new issues, and that will be a concern, particularly when we look ah