tape the new rate reality and how that could impact the road ahead for stocks let's welcome in chris harvey from wells fargo securities with us at post 9. >> good to see you. >> that's the story right now, right? the move back up in yields and the toll it's taking on stocks. >> it's the trump trade, backup in rates and it's earnings season so it's all about who just reported last, what that means and what narrative we're going to go with you're right the we've had a heck of a rally so it's time for a little bit of give back. >> why is it time forgive back isn't this rally based on the fact that the economy is good and the fed is cutting and you can say the move in yields is in part for the reasons you suggested, the reflation trade, but it's also because, you know, look, the economy is good. >> scott, that's all fair and i think that all works longer term, but in the short term typically what we see heading into a presidential election cycle is a bit of a risk off, a bit of a selloff and we've done the opposite after you see that rally we've seen that rally before and so i think we just --

chris harvey, we respect what you do. thank you so much for your work. appreciated. >> my pleasure. >> thank you. we got a brand new hour of cnn, new central starting right now >> that's all the red before election day, donald trump's closing argument filled with dark rhetoric at his hometown rally in new york were several speakers spewed racist it's the vulgar remarks the campaign now trying to play cleanup today.

chris harvey of wells fargo.p by more than 1/10 of 1% with an update on stories elsewhere is your bloomberg brief with dani burger. >> goldman sachs upgrading its forecast for china's economic growth in 24 and 25 spurred by the announcement of measures to shore up growth including plans for greater public spending. they expect china gdp to expand this year. they did see it at 4.7 previously. it lifted its growth prediction to 4.7 from 4.3%. taiwan semiconductor is expanding its global footprint and eyeing europe for its next chipmaking plants. a senior official said construction is underway in a facility in germany. the speculation of another plant could be announced in the czech republic. tsmc has spent billions in recent years to develop plans and allied countries like the u.s., japan and germany with risks looming over tensions in china. the harris campaign is trying to draw attention to the health of the candidates. harris released a detailed medical record that claims the vice president is in excellent healt

chris harvey, we respect what you do. thank you so much for your work. appreciated. >> my pleasure. >> thank you. we got a brand new hour of cnn, new central starting right now >> that's all the red before election day, donald trump's closing argument filled with dark rhetoric at his hometown rally in new york were several speakers spewed racist it's the vulgar remarks the campaign now trying to play cleanup today. kamala harris focuses on all those important swing states and black and latino voters. her latest moves to secure their support and iran is vowing to respond to israel's latest deadly strike on their country as stalled gaza hostage and ceasefire i talks are set to resume today. finally, i'm sara sidner with kate bolduan and john berman. this is cnn new central what donald trump made of madison square garden in new york city this weekend, the former president, turning the world's most famous arena into a stage where he and his supporters promoted dark and racist commentary to a huge crowd. >> now, donald trump's campaign and other republicans a

but at the same time, there's more concerns from our firm's strategist chris harvey about interest rateson. there's no free lunch here. and under a harris win, it's probably more of the status quo, all things considered, where you are still past peak bank regulation, maybe just don't go as far past as you otherwise would. >> we've seen the volatility in rates. we're 65 basis points higher than the september lows on the ten-year yield and the fed has been cutting. how do you think about that volatility? supposedly it's a more benign environment for small businesses, if rates go higher even in the face of fed rate cuts? >> remember the bond vigilantes? david faber does. >> don't remind me how old i am. >> but if rates go up a lot higher than expected or you have a second dose like you had during the volker years, you're talking about that capital market backlog doesn't get monetized. the commercial real estate problems gone, forgotten but not gone, especially if rates stay higher for longer. the pace of loan growth, if rates stay higher. and then just overall servicing bad debts and the se

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