bonds. i'm pleased to present the sale resolution related to the issuance of up to -- >> chair fewer: mr. lee, so it is not moving. did you want to go to the next slide? >> are we on slide 2? >> chair fewer: now we're on slide 2. thank you. >> sure. i'm pleased to present the sale resolution related to the issuance of up to $102.6 million in bonds for the committee's consideration and positive recommendation to the board, as the committee reports. the 2020 s-bonds are used to finance loans under the preservation and seismic safety pass program, which is a key component of the city's acquisition, preservation, and anti-displacement strategy. before we move on to the presentation, i'd also like to express my gratitude to the committee and clerk for convening this special session today. the expedited timeline allow our continuing team the option to price the bonds before the election, if that is advantageous. given the volatility in the markets, this flexibility is critical to financing executi

jimmy bond jimmy, jimmy bond. jimmy bond jimmy bond jimmy bond jim, jimmy bond.no time >> no time to die, no time >> jimmy bond. jimmy bond jimmy bond >> no time, to die no time. to die >> jimmy bond. jimmy bond >> jimmy bond. >> shakin. >> no time, to die no time. jimmy bond >> shaking >> no time, to die, no time. jimmy bond jimmy bond >> shakin. >> you are a genius. you are brilliant. you are brilliant. oh, my gosh. that is what i'm talking about two of the most talented people out there. thank you guys so much, when we come back, billie and finneous are debuting the first performance of the real "no time to die. you guys are the coolest come on. ♪ election..... (fishermanan vo) hohow do i register to vote? hmm!m!.. hmm!.. . hmm!.. (womoman on porcrch vo) can we votote by mail l here? (g(grandma vo)o) you'llll be safe, , right? (daughter vo) yes! (f(four girls s vo) ththe polls! v voted! (grandma vo) go out and vote! it's so imimportant! (man at popoll vo) wowoo! (grandma vo) it's the most important thing you can do! ♪ have e your attenention. [soundnd fx: bi]

bond. this should be familiar to most of the committee. the first slide we have is an overview of the original budget approved from the 2011 ballot. we have $248 million general obligation bond that was distributed amongst six different programs within our department. we have the street repaving and reconstruction, streetscape, bicycle pedestrian safety, material fact signal and street improvements, sidewalk accessibility improvements, curb ramps, and improvements with sidewalk repairs, and also our street structures. on the right we have a couple pictures from some of our more recently completed streetscape project projects. next slide we have an executive summary. one thing to mention is the majority of the scope that was within our bond has already reached substantial completion. we have one project out there that's a streetscape project under the highlights and accomplishments. we have 95% of the sewer and water work complete, 95% of the curb ramp work, and 40% of the paving that's comp

bond.s should be familiar to most of the committee. the first slide we have is an overview of the original budget approved from the 2011 ballot. we have $248 million general obligation bond that was distributed amongst six different programs within our department. we have the street repaving and reconstruction, streetscape, bicycle pedestrian safety, material fact signal and street improvements, sidewalk accessibility improvements, curb ramps, and improvements with sidewalk repairs, and also our street structures. on the right we have a couple pictures from some of our more recently completed streetscape project projects. next slide we have an executive summary. one thing to mention is the majority of the scope that was within our bond has already reached substantial completion. we have one project out there that's a streetscape project under the highlights and accomplishments. we have 95% of the sewer and water work complete, 95% of the curb ramp work, and 40% of the paving that's complete

bond... james bond. sean connery — a star whose life and career was defined by one word, bond.s the suave but ruthless 007, he spent the ‘60s saving the world and dealing with power—crazed evil geniuses. but the sudden success... you expect me to talk? ..caught him by surprise. no, mr bond, i expect you to die. i had no awareness of that scale of reverence and pressure and what have you. his family today confirmed he had died aged 90 at his home in nassau — the end of a long and successful career. there was much more to him thanjust bond — an oscar for his role in the untouchables. he sends one of yours to the hospital, you send one of his to the morgue. but 007 always cast a shadow. sean connery had set the benchmark against which all others would bejudged. my name is pussy galore. i must be dreaming. i'm pleased to say david is with me. so much to talk about and so little time. what would you say are the key moments in the connery story? when he was chosen for bond, for doctor no, ian fleming was absolutely appalled. because he felt bond was posh, english, went to eton, and h

bonds. so it's -- again, it's very close to that kind of risk profile for the total fund. but we are a little underweight united states. we are substantially underweight japan. and across europe, we are underweight germany, and i don't see -- [indiscernible] and the u.k. next, page 21 is a very important page because that's where we, both on the sector and country exposure, these exposures are intentional and we will examine whether we were compensated for this key risk drivers. here we could see we're very large overweight on the information technology. we have 23% of total plan assets are invested in i.t. so almost a quarter -- we're getting close to a quarter of plan assets being invested in technology. and that's mostly in public and private equity, but we do have sector exposures through debt as well. the next largest concentration is in real estate. again, more than half of it, 10%, comes from our direct real estate equity allocation, and the rest comes from real estate debt, either fr

off the show saying is the 30-year bull market in bonds over? that would probably be really inflammatory to most people that are watching but just think about this. the disparity between growth and value, when you look over a long-term chart, right now value is mispriced 2x back when the bubble popped. you could say tech stocks are not overvalued to the level they were then, but the disparity in growth has never been what it is now. so i think we are in -- brian said we are starting off for some tough -- a tough road ahead. jeff was definitely more constructive i don't want to say that i am in the middle because i am not. i am worse that brian these days i think we are going to see an outperformance of value that we have not seen or do not remember in decades >> wow, that is quite a proclamation bonawyn, where do you follow >> you will see some rebalancing that you typically wouldn't see on a standard trading day. i don't want to dive too deep into the options, but we need to unpack what is trading the options market outtrumps the equity market.

i could see doing 80% equities, 20% bonds. bonds are not that interesting here.hey could actually hurt you if the bond yield goes up. but i think the fed will come in before too long, if that happens. vonnie: what corners of the bond market are you most interested in? we have been talking to a lot of people looking at the relative value of various credits at the moment, forward volatility, and so on. what is the barometer for you for what we will see credit-wise over the next six months? ed: credit spreads are going to remain relatively narrow. simply because the fed has announced ever since march 21 that they are going to backstop the credit markets. to the extent that you can get a good yield in the corporate bond relativelyh a investment grade reading, that's fine. it will be interesting to see what happens in the municipal bond market. if biden wins and the democrats sweep the washington political bondsplace, municipal could look pretty attractive to the extent that taxes would be going up, people would be looking for opportunities to invest in something that

bonds. i'm pleased to present the sale resolution related to the issuance of up to -- >> chair fewer: mr. lee, so it is not moving. did you want to go to the next slide? >> are we on slide 2? >> chair fewer: now we're on slide 2. thank you. >> sure. i'm pleased to present the sale resolution related to the issuance of up to $102.6 million in bonds for the committee's consideration and positive recommendation to the board, as the committee reports. the 2020 s-bonds are used to finance loans under the preservation and seismic safety pass program, which is a key component of the city's acquisition, preservation, and anti-displacement strategy. before we move on to the presentation, i'd also like to express my gratitude to the committee and clerk for convening this special session today. the expedited timeline allow our continuing team the option to price the bonds before the election, if that is advantageous. given the volatility in the markets, this flexibility is critical to financing executi

and goodbye mr bond double 07 star sean connery dies at the age of 90 widely seen as the best james bond of all connery played the secret agent in no less than 6 blockbusters film experts said his legacy. greetings on michael berlin's new airport has finally opened 9 years late planning errors and construction chaos led to its launch being postponed 6 times an easy jet flight which only came from the old airport on the other side of the city was the 1st to touch down with a lift tons of flights from munich. following close behind the construction of berlin brandenburg willy brandt airport started in 2006 with its opening a ritually plan for 2011 the new airport has been dogged not only by delays but also by protesters many of whom are concerned about climate change. and early morning vigil outside the terminal building. inside a sit in these environmental activists want to bring the airport to a standstill on air painting day. was coming session to be happening during a climate crisis opening huge at port at traffic needs to be drastically reduced. the opening has been massively scaled b

alix: you may not have a bid for bonds but there is a bid for a certain type of bond.alking about the eu smashing global records in its first on sale come it happened yesterday. it is not wasting time to offer more. maria tadeo spoke exclusively with european commissioner earlier today. >> the fact it is denominated in europe is another issue. socialt we have launched bonds is another element which is quite interesting for some investors. to communicatege the success story. maria: can you tell us about who bought these bonds and terms of was it international investors, european investors, u.s., a combination of all of them? theround two thirds of investors, institutional investors from the european union, many of the others are from asia. a few from americans, south and north, in particular canada. i think it is quite a good mixture. we are quite happy. maria: it was definitely a hit because it is a monster option, it was big, the amount of numbers you will bring in. on that note, given the appetite we are seeing, what is the next of the issuance going to look like. ho

markets so investors look at the bond markets but the bond markets are no longer so . signaling because the fed has intervened so much that there's no price signal there which the latter use the central banks use as a tool for the transmission of their monetary policy so you know with the vatican they send out the smoke signals to tell us when whether or not they've elected a new pope and here that's the equivalent of that there are no smoke signals at all coming out of the fed because there's no signal they've destroyed all signals now the bond market has been euthanized and investors are seeking eld by trying to engage in carry trade center and see arbitrage in the 4 x. market now the big difference between trying to eke out one or 2 percent in the 4 x. 4 converse of the bond market is that in the bond market you've got maturities ranging from one year to 30 years and that's the bedrock of the foundation is the bond market which has a long term maturities that's why it used to finance governments for example if the bond market has been euthanized and you're relying o

bonds.'m pleased to present the sale resolution related to the issuance of up to -- >> chair fewer: mr. lee, so it is not moving. did you want to go to the next slide? >> are we on slide 2? >> chair fewer: now we're on slide 2. thank you. >> sure. i'm pleased to present the sale resolution related to the issuance of up to $102.6 million in bonds for the committee's consideration and positive recommendation to the board, as the committee reports. the 2020 s-bonds are used to finance loans under the preservation and seismic safety pass program, which is a key component of the city's acquisition, preservation, and anti-displacement strategy. before we move on to the presentation, i'd also like to express my gratitude to the committee and clerk for convening this special session today. the expedited timeline allow our continuing team the option to price the bonds before the election, if that is advantageous. given the volatility in the markets, this flexibility is critical to financing execution

wee than the 30% of bonds will issue as green bonds.pect, there should be a laser guarantee. union budgetropean commissioner there. we are not in competition to the boom. let's get the first word news with laura wright. laura: good morning. progress on a stimulus deal in washington. senate republicans are continuing to raise objections about the size of the package. a spokesman for nancy pelosi says democrats and the white house are getting closer to agreeing on legislation. they floated the idea of a final vote on stimulus after election day. sources tell us a participant who died after astrazeneca's covid-19 trial in brazil has not received the company's vaccine. the firm cannot comment on individual cases but it's partner says it has no concerns about safety. in the u.s., the vaccine program warp speed says it expects trials to restart as soon as this week. a top u.s. intelligence official is warning iran and russia are attempting to interfere in the presidential election. the director of national intelligence says tehran is already

bond market. jonathan:jonathan: greg peters come bond specialist. bonds aren't over. great to catch up with you as always. this coming from jonathan swann of axios, catching up with ted cruz. ted cruz saying the following, "i am very worried about the debt."\ on the surface of things, we can poke a lot a holes in that, but it will be interesting to see where the republican senate goes and what republicans will sound like when it comes to the issues of debt. tom: there's two things, debt and deficit. all we know is they are both going in the wrong direction. from london and new york this morning, good morning. this is bloomberg. with the first word news, i'm ritika gupta. house speaker needs pelosi says the house could pass a pandemic relief package this week. still, a deal with the white house remains elusive, and the republican senate me not act before the election. both sides accuse each other of moving the goal posts on the left side. the president's chief of staff mark meadows says the u.s. is not going to troll dependent. he said -- to control the pandemic. meanw

i would have thought that bond could have been brave.emas across the world for a november, december, the christmas period, i think he could have done it and helped us survive. i'm a bit surprised that for the second time they decided to turn the aston martin around and beat a retreat. fond bottles it may be! i suppose the point is that they invested so much money in it, they need to get it back —— bond bottles it. much money in it, they need to get it back -- bond bottles it. that's it, they are not taking chances but the cinema is a risky business, especially james bond. maybe the cinema is a risky business, especiallyjames bond. maybe they should not have put so much money into it. i think they now have time to go away and reshoot some scenes and put something in where they say, that virus was a bit difficult! you are going to watch it at easter and we will not forget all this, they have to make reference to the fact that he has twice been laid low by the virus, surely they will refer it, surely wonder woman will. i want to at least se

just eight bond deals.n in loans as they struggled collapsing demand for air travel. part, including the government bank of japan. they expect domestic passenger sales to fall by 30% this month alone. the carrier considered a share sale and a cost-cutting drive. david: speaking of cutting, we're well off highs of the day going into the lunch break on the mainland markets. we opened a little higher compared to the closed yesterday. a topsy-turvy in between. shanghai composite. the bigger story is msci china. at the bottom of your screen, alibaba pulling down, tencent also down 2.6%. 30 minutes left in the morning session in hong kong. going into the lunch break in shanghai. india opens in the next 15 minutes or so. more coming up next. this is bloomberg. ♪ is bloomberg. ♪ - i'm dough hirsch. you may already know that goodrx can help you save up to 80% on your prescriptions. unfortunately, many americans can't get to a doctor right now. the good news is that for many health issues you can see a doctor online.

bond, james bond. sir sean connery — the very first screen james bond — has died at the age of 90.hn and i'm john watson, and i'mjohn watson, coming up in the sport in 15 minutes' time. rugby union six nations championship will be settled on the outcome of the final game with three teams still in with a chance of lifting the trophy. hello and welcome if you're watching in the uk or around the world — and stay with us for the latest news and analysis from here and across the globe. the prime minister has announced a month—long national lockdown in england, starting on thursday. borisjohnson told a news conference that nobody wanted to introduce tough measures, but that a responsible government could not ignore the rising numbers of infections. let's take a closer look at the measures. nonessential retail and hospitality will be forced to close. schools and universities will be allowed to stay open. it comes as the uk records a further 326 deaths from coronavirus — within 28 days of a positive test —and another 21,915 people have tested positive. that takes the total number of uk cas

bond, james bond. i'm just going to put some clothes on. don't go to any trouble on my account.s met sean connery, they knew they had found james bond. looking for anything? no, i'm just looking. found james bond. looking for anything? no, i'mjust looking. as the suave but ruthless 007, he spent the suave but ruthless 007, he spent the 60s saving the world, dealing with power crazed evil geniuses. but the sudden success caught him by surprise. you expect me to talk? no, mr bond, i expect you to die. surprise. you expect me to talk? no, mr bond, i expect you to dielj surprise. you expect me to talk? no, mr bond, i expect you to die. i had no awareness of that scale of revere nce no awareness of that scale of reverence and pressure, and what have you. i never had a press representative or anything. and i found it a bit of a nightmare. he was body—building at a mr universe contest which led to early acting work, but it was far from overnight success. he had manyjobs, milkman, lifeguard, model, coffin polisher. one of his first film roles was in a disney musical. i love the ground s

you have infrastructure bonds, social bonds, carbon bonds -- given the current pricing, at the very leastarge real money investors, it is going to be. first -- asset and a reason amanda was so strong. -- demand was so strong. manus: frederik ducrozet, my guest host. global strategist at pictet wealth management. first word news. laura: the deadlock over stimulus on capitol hill seems to be continuing. both house speaker nancy pelosi and the white house are blaming the other for moving the goalposts in talks. pelosi said the chamber may pass a plan this week, but the senate may not act before the election. china is laying out a new plan for economic growth this week in beijing. xi jinping is holding a meeting to decide on the nation's next five-year plan. it is affected to focus on -- expected to focus on economic self-reliance and a cleaner environment. the event is closed to the press. he decisions won't likely be clear until it wraps up thursday. armed forces have taken control of a oil tanker in the english channel, obtaining seven people. an incident involving the suspected hijacking

. >>> a big bond breakout.t it means for banks and builders when we come back and out of sync with the bond market we will look for answers when we return in a few moments, rackspace technology will enter a new and exciting chapter. across muti-cloud, apps, data and security, we focus on solving the business problems of our customers with technology we are a type of company the market has not seen before. going public will further invigorate our mission to embrace technology, empower customers, and deliver the future. toiphone 12 and iphone 12 pror custare here on verizon 5g. whoo! this new iphone, plus verizon 5g... game changer. (announcer) with the coverage of 5g nationwide, and, in more and more cities, the performance of 5g ultra wideband, the fastest 5g in the world. whoa. i downloaded a whole movie in under 30 seconds. how is that possible? (announcer) pre-order today, and when you switch, get iphone 12 on us. i want this phone. (announcer) this is the 5g phone everyone wants on the 5g america's been wai

but why is the bond market moving? we are at 0.83% on the 10 year yield, the steepest back to march of 2018. we are pricing in stimulus at some point. jonathan: through 80 basis points. wonder if, off the back of a move in treasuries, people start to talk about reflation all over again. lisa: i don't know that the underlying data is really supporting that. we will get a read at that with iea crude oil inventories. a report yesterday showed a surprising building u.s. inventories. many people are not consuming as as the covid crisis continues to spread. meanwhile, today, i know you guys care a lot. we get a lot of fed speak. we've got loretta mester, neel kashkari, tom barkan, randy quarles, and jim bullard all today. every day it seems like they speak more and communicate that much less. we are going to hold rates low. the question is just the threshold to further stimulate. then come append to your bloomberg -- then, pinned to your bloomberg terminals, the fed beige book. how much has the spread of the pandemic really

chinese bonds have been under pressure since march and we have seen a selloff in the bond market therewe're close to the highs and our yields right now. a lot of that has to do with technical supply. we had a lot of the forward funding, local governments were barring an has to be done by october. to get the infrastructure projects going. they have gone on holidays now and bonds aren't trading but we suspect that most of that is done now. so, when you are at their bloomberg credit impulse indicator which gives you a lead on the market from the underlying economy from six to nine months, that should be picking up somewhere around the september on october read. you it's telling you is are going to have softer numbers around the second quarter of next year. this looks like a night -- a nice opportunity to start leaning into chinese bonds. we would not be rushing because obviously it is still type funding particularly for the small banks in china. into year-end we usually get squeezes. this is like a place to start adding. yvonne: thank you for joining us. the head of apex fixed income. sti

you cannot do that with the bond market.e companies are banking ta growth orbi asset sales to deleverage. that is highly dependent on economic growth. preferreds a legitimate yield equivalent or delay have -- lale: there are some fixed for life preferreds that are very high coupon. as the companies -- through the pandemic none of these things will get cold -- at least until you get a better picture of the are decent places -- there are decent places to be. lisa: is there any trade to be had in the 11 days left before the u.s. election? lale: no. these things are very hard. it is similar to the equity market. there is a general trait that is happening. whichever party wins, it is likely we will have stimulus. the question is how big it will be. you can see the companies that make it to benefit the stimulus if you see the stocks and the bond market, little bit of movement. it is not the golden age of credit. i have to ask, is that a look at of shade at pgim and greg peters in the last couple of weeks? lisa: are you trying to g

bonds?look at the 10 year and the 30 year, could they be lower? yes. is it an impediment to business operations, investment, mortgage rates, they are historically low. i think we have to recognize that we are already buying a significant amount of bonds as it is. i would be skeptical about the benefits of doing more myself. kathleen: quick question on this debate going on. the fed will be talking about this more seriously. esther george said the fed needs to give details on guidance when it comes to the fed's intentions when it comes to bond purchases to ensure effectiveness, transparency, accountability. what is going on here? what is the question you guys are grappling with? robert: i will speak for myself on that. i think we are buying still a substantial amount of bonds every month. treasuries and mortgage backed securities. i think we could say more about what our plans are going forward, but my own view is i, right now, would be hesitant to see us doing more in that area because i do n

and these bonds are expected to price in the coming weeks., lastly, this ordinance appropriates the proceeds from the second issuance of the preservation and the seismic safety a.k.a. path, affordable housing bond programs and in an amount not to exceed $102.6 million and it is also anticipated to price in the next coming weeks. so with that, as you had mentioned, cha chair fewer, thes a big team viable if there's questions from you or any member on the committee. >> chair fewer: thank you very much, colleagues, any comments or questions for marissa. supervisor mandelman? >> supervisor mandelman: are we going to have a presentation from city, or is this it? >> we didn't hav did have a pren back on the 6th but we have benjamin, and others available. >> supervisor mandelman: i would like to hear from g.o.c. about their thinking on geographic equity and the expenditure of these bond proceeds. >> chair fewer: supervisor mandelman, would you like to hear from the b.l.a. first or -- >> supervisor mandelman: we can do the b.l.a. first. >> chair fewe

sean connery dies at the age of 90 widely seen as the best and james bond the full connery played the secret agent in no less than 7 blockbusters still makes but joins us to talk about his legacy. i'm anthony howard we begin with some breaking news this hour french police say that an orthodox priest has been shot and seriously wounded in the southern city of the young the cleric is reported to have been fired on twice as he was closing up the church he's been treated for what i described as a life threatening injuries and is in a critical condition the attack a fled from the scene with a sawn off shotgun interior ministry says a serious incident is under way and security forces have been called in. for more on this breaking story we're joined now by our correspondent marina strauss in nice myna what more can you tell us. what we know so far is that the man was all to the orthodox arch breeds priests of crete greek nationality was 52 years old the attack happened in the 7th neighborhood of leon at around 4 pm and the perpetrator chest attacked the orthodox preach when a priest when he

bid into the bond market. into the bond market we go, negative almost 60 basis points on a 10 year.t's like a throwback to our days together five years ago. there is some weight to this. good morning. annmarie: certainly, it is. we're so excited to have you back. an absolute gladbac -- bloodbath, nymex dropping below $39 as the resurgence of cases in europe not going to bode well on the demand side. the supply-side worried about libyan oil barrels. softer.a bit this is the prospect of fresh stimulus. that helped treasury yields rise. jonathan: thank you. let's get the first word news this morning. we can do that with laura wright. laura: china is laying out a new plan for economic growth this week in beijing. president xi jinping is holding a meeting to decide on the next five-year plan. it's expected to focus on technological innovation, economic self-reliance, and the environment. but the event is closed to the press. key decisions won't be cleared before it wraps up thursday. the latest trade talks between britain and the european union have been extended to the middle of this we

bond. james bond.e outward charm of cary grant, connery created a charismatic screen legend. a ladies‘ man... looking for shells? no, i'm just looking. ..with a killer's instinct. he went from being a jobbing actor in his early 30s to an international movie star. an instantly recognisable global celebrity. the attention and fuss that came with the fame did not sit comfortably with the no—nonsense working class scot, who had once been a milkman, a model, and briefly, a coffin buffer. i had no awareness of that scale of the kind of reverence and pressure and what have you. i never had a press representative or anything. and ifound it a bit of a nightmare. bond was universally popular, but not with the man playing him. connery felt trapped in 007‘s gilded cage. he wanted out, to test his talents with more challenging roles. he won plaudits for the man who would be king, playing alongside his old friend, michael caine. we've been all over india, we know her cities and jungles and herjails and her passes. a

vigilantes, bond p, bond- wake me ui vigilantes. it is a miller exclusive. deutsche bank. he says he does not realize m&a next year. this is about valuation. this is about driving the valuation. he's very satisfied with the third quarter momentum. the lines are on trading. what else are we seeing? annmarie: he doesn't rule out, nextext year -- out m&a year. he said the bank has outperformed its own target and he is laser focused on executing on his four year strategic plan. if the bank valuation were to recover, then maybe they would be in a better position. they don't want to be a junior partner in any sort of tie up, do they? manus: no, i think therein lies the point. if you think about the valuations, the market caps, deutsche bank is at $18 billion. have a look at the figureheads of may be the flavor of the deal. in comes ralph hammers. it could be a fascinating period a time next year if it was ubs potential tie up with deutsche bank. but of course nobody wants to be the child in the pram in that deal. we don't want to be the junior partner. hence the reason why you f

bond. hello the u.k.'s prime minister has ordered a national lockdown for all of england as governments across europe race to tighten restrictions and prevent surging coronavirus cases from overwhelming the continent's hospitals more than 1000000 people have been infected in the u.k. which is europe's worst hit country and deaths have been climbing daily covert 19 has killed more than 46500 people hear from to the government to close non-essential shops and restrict restaurant services until the 5th of december meanwhile austria has announced a curfew and partial closure of cafes bars and restaurants after $5600.00 new cases reported on friday the government has warned that $6000.00 daily infections would push hospitals beyond capacity the fokker reports. a major u. turn in the british government's covert 19 strategy for weeks the prime ministers insisted on local restrictions to avoid the need for a nationwide lockdown but infections have just continued rising as across much of europe the

if you switch of the board into the bond market, we want to give you a brief feel of how the bond marketpe is set up ahead of this. a nice option of italian 10 year debt earlier this morning. your guilt .73 9% on the italian .73 9% on your yield italian 10 year. the marginal lending facility at 25 basis points and the depot rate at -50 basis point. risks quilted -- risks tilted to the downside. i brought up the balance of risk around the economic outlook. risks tilted to the downside. , aroundlar unchanged 1.17. untill run shortly before shortly before interest rates rise. that will be a long time. willcb communicating they reinvest maturing pandemic the emergency purchase program bonds at least through the end of 2022. the december forecast will allow a clear assessment of the path forward. we mentioned this earlier on. the ecb and the governing council would like to adjust monetary policy when they have those forecasts. those forecasts do not come until december. the euro unchanged, 117 00 on the back of the decision. negative on the day. the story not about rates. about the asset purc

on the bond market side, we are quite constructive on emerging market bonds, dollar-denominated. that is one area that gives you that are yields then what you are seeing in any market at this point. but from a stock market perspective, which is driven very much by earnings and sentiment, if you parse through what is happening in the chinese economy. the support and growth you are seeing happening in the manufacturing or the production component of the economy, which is supported by the state in its efforts. but if you look at the consumer side of the economy, it is underperforming u.s. and other consumers. so taken as a whole, we are supporting growth there right now. aside from the fact that they are doing much better from a covid perspective, they are benefiting very much from an export oriented trade environment for the economy at the moment, driven by very pandemic specific trades, and not really broader global trade because, as the imf would point out, those trades are down 10% versus last year at this point. certain sections of trade are benefiting, but overall, we are not

bonds not doing much.ig question is what kind of stimulus package emerges from the ongoing discussions in congress? we do have today another voice out of the mix, fed chair jay powell addressing the annual national association of businesses and economics today on the need for government stimulus. chair powell: at this stage, i would argue the risks of policy intervention are still asymmetric. too little support would lead to a weak recovery, creating unnecessary hardship. in contrast, the risks of overdoing it seemed to be smaller -- seem. to be smaller. even if policy actions prove to be greater the needed, they will not go to waste. amanda: amanda: katherine judge is in economist. -- centralthere bankers have been clear on this for a while. we have done what we can do. this is now a fiscal story. how important is it right now, and what feels like an inflection point in the u.s. economy, for a stimulus package to come together? it is very important. i do think the u.s. economy is at an inflection point. w

the dollar bonds plunging.xpectation for investors was that a reformist candidate would take over. we have seen violence starting last year when former president evo morales was ousted. opposition candidate carlos mesa conceded defeat, so we saw that huge plunge for bolivia dollar bonds. the socialist movement again claiming a landslide victory a year after evo morales was ousted. he is in exile in argentina. morales's handpicked successor. he was the finance minister until 2017. romaine: i am wondering why investors this time around would be wary of the type of policies he might implement? tenure of evo morales, we saw gdp growth averaging around 5%. but that was helped by rising revenue in exports of natural gas. commodity prices were higher. when commodity prices took a hit, we saw the revenues plummeting, we saw the government budget turning into a deficit of more than 5%. evo morales, very controversial, in exile in argentina. he did politically incorporate the marginalized masses of indigenous people in b

i want to turn to the bond market.hings really turned in the italian bond market yesterday when the ecb president teedo more stimulus -- teed up more stimulus. we have another bid, and it is back. more on the european central bank decision, the stimulus still to come. around the corner, an interview with the austrian central bank governor. futures are lower this friday. you're watching bloomberg tv. ♪ incoming information signals the euro area economic recovery is losing momentum more than expected. activity in the services sector has been slowing visibly. consumers are cautious in the light of the pandemic. the impact of the second wave on banks is going to depend on the bank spot. the european central bank and the whole euro system will be extremely attentive. we will not just stand still. we are going to use all the instruments we have with the entire flexibility that we have, and i am clearly referring to pep more than others. we have little doubt given what of thecting as a result risks we are seeing that theumsta

now to actor sean connery best known for playing diablo 7 in the james bond films he has died at the age of 90. gore. replaced that. he shot to stardom in the very 1st bond film dr no in 1982 and went on to dominate the silver screen for 4 decades the veteran scot won many awards during his lengthy career including an oscar and 3 golden globe connery's death was announced in a statement from his family we're joined now by our d w film expert scott roxbury scott nice to see you a giant of cinema has left us how big a loss is this oh well i think percent about and i have to say for me personally it's a huge loss obviously sean carmody was 99 years old perhaps to be surprising to lose a man of that age but he still powers over i mean that particular of course with his role as as james bond that that figure that he created with dr nolan and 6 other on film created the franchise of james bond still perhaps one of the greatest most powerful franchises in cinema history but it also created a certain type of man sort of a combination of class watchable masculinity and also humor which was a

a bid into the bond market.give up some of that. 0.1861% is your yield on the 10 -- 0.8161% is your yield on the 10 year. $1.1820.ar, a shout out to our colleague jen jacobs in washington, who is part time leading the track and trace initiative in washington, d.c., the latest being mark office. vp pence's pentz inlose to mr. ce inmity -- to mr. pen outimity, as he campaigns of quarantine. kevin cirilli joins us, our chief washington correspondent. zeitgeist ways to go this morning. i want you to overlay these two big stories, your conventional politics with the pandemic that is worsening. how does the election change across the greater north midwest and mountain states? kevin: it doesn't. justin traveling the past couple of weeks, there is a very different reality in those parts of the country outside of the coasts, where there is an acceptance of the virus and the risk that comes in terms of voting. just to note the trajectory in terms of the polls in the early voting that we have seen, in contrast with democra

bond... james bond. sean connery — a star whose life and career was defined by one word, bond.re you looking for shells? no, i'm just looking. as the suave but ruthless 007, he spent the ‘60s saving the world and dealing with power—crazed evil geniuses. but the sudden success... you expect me to talk? ..caught him by surprise. no, mr bond, i expect you to die. i had no awareness of that scale of reverence and pressure and what have you. his family today confirmed he had died aged 90 at his home in nassau — the end of a long and successful career. there was much more to him thanjust bond — an oscar for his role in the untouchables. he sends one of yours to the hospital, you send one of his to the morgue. but 007 always cast a shadow. sean connery had set the benchmark against which all others would bejudged. my name is pussy galore. i must be dreaming. the actor sir sean connery who has died at the age of 90. now on bbc news, click. halloween is here and this week, we have robotic tricks. sailing treats. eerie earbuds. and... a presidential election! welcome to click. i hope you

i want do you about bonds.r big money poll folks say take money out of bonds, put them either in cash or more stocks. but what if i'm too stingy to sit in cash and too chicken to put more money in stocks? you like convertible bonds. is that the answer? what do you like about convertibles? >> yeah, jack, what i like about convert bls is they're a hybrid. they can provide you with a stream of income, they function much like a bond in the sense that improved economy, improved credit ratings will be good for the price of the bonds. and on the other hand, they're also a play in terms of the convertibility factor within the convertible. so there might be a point down the line when the holder of a convertible bond could exchange it for equities at an attractive rate. jack: thanks very much, john, not a well known asset class but certainly useful. i also need to point out that john stolfus is part-time professor at nyu, and he has his students read barron's, and for that we love you. >> yes. love bay ron's -- we love b

not so much in the bond market.nce you are looking at the credits, you are looking at this situation and you are saying ok, who is being hurt the most. a lot of the companies that are being hurt are good enough credits, they can access the public markets, borrow a lot of money with a reasonable proportion of it being off of the curves. you can bring down the cost even though the debt goes up. they can borrow at rates that bring the total cost down if they retire some others. you say, ok i am not going to worry about them too much unless underneath their business is deteriorating. hurt, theare being extreme examples are easy to ,pot, energy and retail certainly with airlines, aircraft producers, etc. you have to analyze each one independently and watch what is going on. it is a very specific risk environment. specifically, you have to know your credits. vonnie: when it comes to airlines, is it not the same risk for all of them as it is for one? is there a differentiation you can make when you look at the credits of u

bond. james bond a role that would change his life he said bringing to life the story of the british spy double 07 was reciprocal how important was during bond in the development of sean connery. obviously very important because of the. worldwide attention that you want to track one into another market bracket all accurate. connery played james bond in 7 films spanning more than 2 decades his lust was in never say never again in 1983 determined not to be typecast he saw different roles going on to win an academy awards 2 bafta and 3 golden globes. he received the american film institute's lifetime achievement award just tells you that you're not dead yet. connery 1st met queen elizabeth at the premiere of you only live twice in 196733 years later she knighted him for his services to film he called it one of the proudest days of his life and remarkable career sean connery was the nearest i would say the scottish have to 2021st century matters and national hero people thought they could relat