bloomberg cross assets reporter katie cranfield, talking about those vix contracts in october and novemberwe will talk about this more about the market is pricing in volatility. us inhave michael joining a moment to break it down. this is bloomberg. ♪ romaine: today, we are focused on the identity election risk and -- the heightened election risk. the makeup of the house and the senate could actually have bigger implications. watcherst of market increasingly watching the senate. there are many ways it can go. bided or trump. but also, there could be a huge policy gap between if biden has a democratic senate and presumably democratic house, bisus a bite in -- versus a den win and he does not. stimulus now versus january, it is a huge question and it would depend on the makeup of congress. from the a tax analyst wharton school talked about people earning $400,000 and above, if you are seeing a democratic sweep, that could be about 20% higher taxes. what does that mean for investors? what does that mean for wealth distribution as well, which some might see as a positive spin. what market watc

cranfield, we appreciate your insight. you can follow more on this story and all of the day's trading on our markets live blog on the bloomberg. you can get a market rundown in one click and analysis from expert editors so you can find out what is affecting your investments right now. here is karina mitchell with the first word news. karina: good morning to you. beijing has made its first comments about an australian journalist being held in china, saying they are suspected of carrying out criminal activities and endangering national security. they worked as an anchor for a state-sponsored news channel and was detained last month. allegations are the most serious ever brought against a foreign journalist in china. chinese state media say australian intelligence agents raided the residence of a chinese journalist there in june. they cite an unidentified source saying the journalist was question and computers and phones were seized beard reports, a day after australian journalist fled china after been told they were under in

mark cranfield. you can follow more of the day's trading on our markets live blog at mliv .an get a market run down in one click and commentary and analysis from bloomberg's expert editors so you can find out what is affecting your assessments right now. techdiscussed his views on valuations amid the current uncertainty and how the presidency will shift his company's position. bill: it is not the beginning of the end but i would say we are coming upon one of the more uncertain periods in american history. we have a very divisive presidential election coupled with a virus that has had a huge impact on the economy and the markets have been remarkably strong since really the third week in march. it's not surprising. valuations, particularly certain technology landscape, have gotten to some pretty extraordinary levels, so i think it is not a surprise. i don't think it is any indication of the beginning of the end. i think markets do not like uncertainty and we have an election in fixed days where it's a tossup who is going to be the next president and what the policies of the ne

cranfield, wemark asked if this was tech, it might even be tesla.hat being said we are coming out of the lunch break in hong kong. look at the big tech names especially the chinese tech names. very big price drop. while you are getting this, it is similar to what we saw in the u.s.. the silver lining, you are looking for an entry point by the dip scenario, you are getting one right now. overall here in hong kong we are down the most on a weekly basis, the biggest weekly drop. the other part to the tech story which i alluded to is more directly a function of the news we broke yesterday in terms of looking at semi conductor industries which is why you are seeing a day two in asia. this plays into the philadelphia ; dr. index. here is what asia looks like. you are getting a lot more in terms of magnitude on the tech heavy internet heavy indices. more on those when it is cyclical. you look at havens across asia whether it is dollar-yen, asean, also gold, we are not seeing the same sort of bid for those assets that we usually see in terms of extreme mark

juliette: mark cranfield in singapore. thank you for your insights.e first word news with karina mitchell. karina: tiktok's parent bytedance as reported to be in discussions with the u.s. government to avoid a full sale. it gathered new urgency as the deadline for the sale approaches and china put into place new data laws that could potentially delay the sale. the date set by president trump is september 15. the european union is considering legal action against u.k. over new plans to breach the agreement governing britain's withdrawal from the e.u.. e.u. judges believe they may have a case to seek remedies even before the bill as passed by parliament and certainly after it. u.k. prime minister defended the move. >> nobody wants to see a barrier down the irish see so what we are doing, which i think will be injurious, what we are doing is putting a safety net beneath which things cannot go wrong to protect the settlement in our united kingdom. backa: jakarta is bringing tougher restrictions on offices and restaurants as coronavirus cases search. the c

shery: let's discuss the trading outlook with mark cranfield. great to have you on.acked direction in the global markets for the past few weeks. continuing, at least through october, given the uncertainty of where the geopolitical landscape is? >> i think we can expect more of this. we will have to get used to it. yesterday was a good example of what we will have to put up with. you see how u.s. stocks traded yesterday. u.s. data about jobs, which wasn't too good. stocks reacted badly to that. optimism there would be a stimulus package between the democrats and republicans, although that hope seems to be fading. and the back and forth over the u.s. presidential election. whether or not we will get a virus solution before the election or after. all of those things are battering people during the day. the ebb and flow between people wanting to buy and sell. this will go on for a while. it will be hard for people to make a clear conviction on where they want to go until they get a better reading of how quickly the u.s. comes out of contraction, whether or not there will

it is risk of tone as mark cranfield says when you have european stocks can't find a positive softer tone with a softer currency it sets for a really bad day. up next, though. j.p. morgan says trump election tweet will spur race volumity. we'll discuss when bloomberg returns. annemarie: good morning. in the city of london, time for your morning call with juliette salley. juliette, it's a call from j.p. morgan, this is is how trump's tweets could affect markets. i know it started as a bit of a oke with covfeve but i think this is called valfefe? >> yes, it certainly started on the back of that infamous tweet of it in the back of 2017. and the j.p. morgan analysts is looking at how much his tweeting affects the markets. and they found that even though trump's tweets are not quite as high or having quite of a market impact as they were back in may, words such as ventilators are getting a lot of action and volatility come through in the market. this is a change from a year ago when the words that shook up the market were more like million, china. the election and covid-19 and geo politic

haidi: mark cranfield in singapore.g up next, the sec may be looking at allegations electric truck maker nikola deceived investors. this is bloomberg. ♪ the sec is said to be examining nikola to assess the merits of a short seller's allegation that the electric truck maker deceived investors about its business prospects. joining us now is our bloomberg sec reporter. this seems to be based on a september 10 report. what exactly is the sec probing here? atso the sec is looking determining the merits of the report, which call into maybe overstating nikola's technology. anytime a company makes a statement, they need to make sure a reasonable investor would consider that truthful and not misleading. thatoking to make sure those statements are in line with that. kind ofo what are the likely outcomes that we are looking at? -- one thing to point out business a preliminary probe. it does not necessarily mean there is going to be enforcement action. so the agency is going to look at all of the disclosures the company has made ov

shery: let's get more perspective with mliv strategist, mark cranfield.seen with shoes are of these eight-year tenure, japan's benchmark doubling. today, we're seeing pressure. what are we expecting from suga office.in mark: on balance, investors like the continuity of a man who has been on top of the japanese leadership for some time and is familiar with everything they was doing and will not really divert too much from the future, it should give confidence to international investors. we are seeing a bit of a wobble at the opening of japanese stocks, mostly to do with the fact that the yen is stronger overnight. if you look at the topics in particular the last couple of months, it has managed to shrug off pretty well, it has got itself into the general trend of asia and global equities. it probably will not stay down for too long. japanese equities are relatively underpriced. evil will be looking at that come back at the fact that the new prime minister will probably try to make some key appointments quickly, which shows that he's not one of those people

in the words of mark cranfield, the angst dialed way up high.utures are suggesting we will be weaker in europe and the u.s. session ahead. the asian equities session is weak. does that all make sense to you? i'm not sure how much sense they were. somewhat head scratching lee strong risk off reaction to what was a pretty mild and steady as she goes fed meeting. reaction -- hughes huge reaction during the u.s. session. shares did drop. they initially climbed after the fed's announcement. it basically seems that a lot of people have been positioned, especially in fx, for a much more dovish fed then we got especially ones powell said the significantly more fiscal and monetary stimulus, the fact that he wasn't looking like he was going to be providing any of the monetary side. we all know that the fiscal side is being strangled by the political gridlock that's going on. that left risk assets looking aimless. people have been going into the meeting expecting that if there were any big moves, they would be to the dovish side. that seems to have been en

bbc news, cranfield university in bedfordshire.e wind and ocean currents to keep it cold, and that makes it more sensitive to climate change, which is why the latest revelation is no surprise. this summer sea ice shrank to just over 3.7 million square kilometres, its second lowest level since they started using satellites to watch it 41 years ago. compared to the average from 1979 to 1990, the difference is twice the size of france, germany and spain combined. but less sea ice doesn't mean sea levels are rising. what it does mean is that it's a driver of climate change as well as a symptom. 80% of the sunlight that strikes the ice is reflected back into space. the dark ocean water absorbs 90% of it, that means the oceans heat up and arctic temperatures rise further. on average, arctic sea ice is declining by 12% a decade, which is why some forecasters say it could be ice—free within 15 years. bad news for santa — and even worse news for polar bears. earlier this year one forecast said they could virtually be extinct by the end of t