need to have the rest of the world have a global minimum tax. >> this is "balance of power" with david westinm bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." high-level u.s. china talks started on a contentious note today as the chinese deputy foreign minister presented deputy secretary of state wendy sherman with two lists of demand. in the last few minutes the foreign minister has charge the united states with violating international law. does that the diplomatic stage, we welcome a diplomat, richard haass, president of the council on foreign relations. thanks for being with us. i do not know if diplomacy works like markets butll

david westin is next. be joined by the wall street bets founder and former sec council tom gorman. i am emily chang san francisco. this is bloomberg. -- in san francisco. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer m

fed has been going astray and needs its leadership changed. >> this is "balance of power" with david westinberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we will start once again with a check on the markets. joining us is kriti gupta. bonds keep going up but stocks are rolling up. kriti: stocks finally catching up to the bonds. it is not one sector outperforming the other which is what we have seen in the last couple of weeks. it has been the growth of performance going back to the safety trade. today it is widespread. all the way from small-cap, which is more of the eco-sensitive sector, all the way down to tech. david:

coming up, jacob kierkegaard joins balance of power with david westin on bloomberg tv and radio.ll be watching the football. the cable show taking to the air at the top of the hour on dab digital radio. taylor, thanks for being with me this week. greatly appreciated. from taylor and from me, this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps re

jane harman will be joining david westin. he is back and he is in d.c.to the cable shout. you can turn to dab digital radio. i'll be taking the boris johnson press conference in full at the top of the hour. the s&p down, tech also getting hit. not as bad as other equity markets. nasdaq off .8%. still dealing with very low bond yields although off the lows of the session. the 10 year yield sitting at 1.20. happy monday. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? well... we found a way to make bathing safer with a kohler walk-in bath. it has the lowest step-in of any bath. it has handrails, a wide door, and textured surfaces. so it gives you peace of mind. and you would love the heated backrest - and the whirlpool jets - and the bubblemassage. and, it was installed quickly and conveniently by a kohler-certified installer. a kohler- authorized dealer walked us through every step in the process and made us feel completely comfortable in our home. and, yes, it's affordable. lookin

secretary of agriculture tom vilsack will be joining balance of power with david westin on bloombergand radio. i will go to radio in the u.k., the dab digital radio, the cable. we will talk about the pmi in europe plus what is happening with the delta variant there. plus the summer olympics opening ceremony is happening, kicking off an event that was supposed to symbolize the best of humanity. challenges for organizers are only intensifying. do not miss that. gymnastics is my favorite. let's get a check on the markets. european equities closed at a record in the s&p hitting another record, up .8%. the outperformers or more of the defensive guides like health care and consumer staples. cyclicals are lagging. energy, financials, materials come industrials happy. part of that is you have the market pmi's still good but off the high. the question is are we rolling over in the u.s. versus europe where it feels like we are gangbusters. the reopening story still in focus. the supply shortages and constraints weighing on manufacturing outlook in europe and the u.s. we are seeing rolling over

david westin will be returning next week.c of the year is inflation, the topic of the decade is inflation. i feel like the consumer sentiment data at 10:00 is driving the narrative, not only on wall street but also in washington. annmarie: certainly. you now that this morning when you sit actually does the consumer sentiment that matters, not the retail sales. we have some breaking news from washington, d.c. janet yellen says she is calling the president's working group meeting on stable coins.

coming up, congressman don buyer from virginia will be joining balance of power with david westin.to the cable show -- tune in to the cable show tonight. bloomberg radio. s&p currently up. nasdaq is up. have a great long weekend in the united states. we will be back on monday here in europe doing it all again. looks like it is going to be a great we this is "bloomberg." ♪ this is "bloomberg." ♪ can in tanglewood. ♪ can in tanglewood. ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. >> from the world of politics -- >> get it done for the american people. >> to the world of business. >> i do think there will be some tax increase down the way. >> this is balance of power

david westin enjoying the week off. annmarie hordern in jerome powell's washington.o the pal testimony in roughly 15 minutes, 12 minutes. annmarie: some opening remarks and then we will hear from the chairman himself. tom: comments making headlines and moving markets this morning. red and green on the screen after a nice lift through the morning. oil news out which moved oil to a 76 handle, now down to a dollar 39 on brent crude. yield comes down. dollar was stronger, it is weaker. you have 30 seconds. why is oil

i am tom keene in for david westin.marie hordern from washington, our bloomberg correspondent. thrilled she can be with us. it is an exceptionally eventful week in washington. anne-marie, too many things to talk about. what are you most focused on in washington this week? annmarie: this week the senate is back in session. you want to see any timeline or discussions regarding the infrastructure deal. today there is going to be a meeting at the white house between the president and the man ha

they will not be exempt. >> this is "balance of power" with david westin. ♪ david: from bloomberg's world new york to our tv and radio audiences worldwide, welcome to "balance of power." we start with a check on the markets. joining us is abigail doolittle. it has been quite a week. at the beginning of the week i thought the world was falling apart, now it is rushing back. abigail: hard to believe is only thursday because it feels like it is been a month of training. risk assets and oil plunging. tuesday and wednesday a reprieve , that reflation trade back in gear. tech still climbing but less so than reflation antedate is tech outperforming.

, i am lisa abramowicz, in for david westin. >> to our tv and radio audiences worldwide, welcome to "." president biden is set to announce a new mandate for federal workers to be vaccinated. we go straight to the white house. our correspondent is there. who does this apply to and how would it work? >> it will apply to all federal workers, millions of individuals. you either go and get inoculated and take the vaccine

coming up, libby cantrill of pimco will be joining balance of power with david westin.ing to dab digital radio for the cable. this is bloomberg. have a great wednesday. ♪ [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ >> from the world of politics -- >> this bill has more in it than what my last proposal to the president was. >> to the world of business -- >> the economy is in much better shape than it was a few months ago. >> this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." there is a senate vote scheduled today on the bipartisan infrastructure package and the white house has confirmed multiple cases of covid despite being vaccinated. we go to our washington team with annmarie hordern at the white hou

tom wheeler be joining "balance of power" with david westin. if you're in the u.k.oing over to the radio, the cable live on bloomberg dab digital radio in the fed is coming up starting at 1:30 with the rate decision at 2:00. stay with bloomberg. this is bloomberg. ♪ >> from the world of politics -- >> this economy is coming back better than ever, we are leading the world in vaccinations. >> to the world of business -- >> -- does not mean we should put all of our money in china. >> this is "balance of power" with david westin. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." as we come to air, we have breaking news. a short time ago we received word the bipartisan group of senators has finally reached an agreement on infrastructure. we do not know much about the details, but we are told it has been reached. we will bring you the details as they develop. we're are also waiting for the fed's latest monetary policy decision with jay powell following a news conference at 2:30. to take us thro

annmarie hordern and tom keene in for david westin.ntful week in washington and pageantry tonight. not a full state dinner but it meeting of the president with the german chancellor and onto festivities this meeting. annmarie: certainly an outgoing chancellor. that will be angela merkel. this is not exactly a celebratory end of her reign in germany. there is tough negotiations, notable china and nord stream 2. tom: some of the distinction on china to be noted. talk about celebratory meetings. that occurred with the chairman of the federal reserve surviving the house and this morning surviving the senate. what did you learn from chairman powell?

. >> this is " balance of power" with david westin. ♪ david: from bloomberg's world headquarters in newd radio audiences worldwide, welcome to "balance of power." big news in new york city today as the indictment of the cfo of the trump organization, who turned himself into authorities this morning. to take us through the charges, we welcome greg farrell, who covers investigations and law enforcement. thanks for being here. it sounds like he did not pay taxes on perks given to his employees. it does not sound like that big of a deal. greg: the charges have not been made public, so we know

. >> this is "balance of power with david westin. bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." markets around the world are really from a series of actions taken by the chinese government to rein major corporations starting with alibaba and going on to didi and most recently online tutoring companies. investors always knew chinese companies came with local risk but does this go beyond what some people anticipated? we welcome steven rattner. thanks much for being with us.

. >> this is "balance of power" with david westin. ♪ david: from bloomberg's world headquarters in newo audiences worldwide, welcome to "balance of power." we will start today with a check on the market. joining us is kriti gupta. i guess the big story is still the 10 year yield. kriti: you are seeing the s&p 500 edging a little bit higher ahead of the fomc minutes later. a wait and see motion. consumer discretionary stocks up as well. the key driver in amazon will be the split contract from the pentagon. the real action is in the bond market and it is the 10 year yield dropping as low as 129 basis points.

haidi: that was brian moynihan, bank of america chairman and ceo with bloomberg's david westin.getting new headlines crossing the bloomberg when it comes to australian utilities. they are getting and aussie $2.8 per share offer from kkr and the teachers pension plan teaming up for that approach to spark infrastructure. we are hearing that offer is considered low by spark infrastructure. we are hearing the number of other things including the renewables part of their business energy hub in new south wales as well. this proposal has been ongoing with that consortium with kkr in that joint bid. expected to value the business at more than $5 billion and we did sparks -- shares rallying to a two-year high. the sparks coming back, saying that that offer is too low. shery: we will see how they trade at the open in about half an hour but let's turn back to the u.s. bid earnings with su keenan. it was another down day four so i guess investors were focusing on the negatives here? su: there is a lot of concern about what will drive prices for these stocks and again, if the good news is al

"balance of power" today, annmarie hordern and tom keene in for david westin on the linkage of economicso our policy. on fed policy, julia coronado scheduled for a macro policy perspective. the vix from a 16.00, the bloom of 16.70. stay with us on radio and on television. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is th

coming up, a good conversation, including -- 12:00 with david westin. stay with us.is bloomberg. good morning. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ jonathan: live from new york city for our audience worldwide, good morning. let's get this trading week started. equity futures down. negative one third of 1%. we begin with the big issue. looking ahead to a big week. >> volatility is high. >> you will see market volatility. >> earnings are coming in. >> what data do we look at? >> economic activity looks like it is slowing. >> inflation has risen significantly higher. >> the fed is in control of

tepid loan growth, the ceo brian moynihan spoke with david westin. >> there are a couple of things. the variants, that is the key. if we keep winning that war, hospitals stay in great shape, more and more people it vaccinated lowering the risk of serious sickness but that is all great news. on top of that, you are hearing or small business customers, for example, last fall, it is all about the virus. this spring, workers and supply chains. whether support is not fully open, goods and services, that is where you are seeing some of these temporary spikes in prices and frankly just availability. i think the biggest constraint other than the virus pathway itself is going to be, can i get people to do the work and can i get the goods to actually sell? that is what we hear from our customers that they are worried about. those are farming customers who can't get people to work and the arvest are coming up. that is construction workers, truck drivers. we need to make sure that we get people back and after the jobs, get them the skills, continue to provide a great career for them. >> there i

professor garten of yale university will do an outlet with david westin on "balance of power." ♪ carolinethe fireworks of the weekend, futures doing a lot of nothing this morning in new york. from new york city for our viewers worldwide, i'm carolyn hyde in for jonathan ferro. "the countdown to the open" starts right now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ caroline: we begin with the big issue. investors debating the fallout from surging oil prices. >> there are risks and opec-plus. >> we know opec needs to maintain oil prices at a certain level. >> what that means for inflation. >> it is an interesting phenomenon. >> that is a key question. >> if you're a central bank,

. >> that was gina speaking to david westin.e will get more details on that, next, this is bloomberg. ♪ >> day traders seized on the routes. these are some of the most beaten-down names. our market reporter joins us now. it surprises me, i would not have thought chinese adrs would have been the target for the robinhood crown but that is what we saw. >> the chinese stocks had a great day. it is quite a big rally. i think the catalyst is that the chinese regulators caught all of these big investment bangs into a meeting. this is a very unique case. they are now targeting every profitable private business. that should really calm the markets. >> what is the rationale? long-term investments? do they think that if they hold onto the stocks they will see gains later on? ye: it is kind of like a baby out of the water. there are company is not rightly talking about the chinese regulators that are being sold off. some of the good companies may be due to bounce back. i think you're absolutely right. it is becoming clear that they need to

david westin, on the supreme court ruling decision on voting rights. it looks like a divided u.s. supreme court is upholding two arizona voting restrictions, rejecting claim that it does discriminate against racial minorities and it is a ruling, according to our reporting, that puts new limits on the reach of the voting rights act. david, what do you make of this? david: it's not entirely unexpected, there were two restrictions put into effect, one of them had to do with where your vote got counted when you filed an absentee ballot in your own precinct. the other had to do with who could gather the ballots. the government initially did not resist a move to overturn the decision of the lower court. that is to say, the decision to really support what arizona had done. the biden administration change it. the patient is not so much specifically these two restrictions as whether they actually adapted a new standard which would require intent to discriminate and a course, they did not do that. sure, further restrictions, but it does not appear they went as far as the bide trump -- trump

. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westinloomberg world headquarters i am laser bomblets alongside joe matthew in washington filling in -- i am lisa abramowicz alongside joe matthew. the bipartisan infrastructure bill seems to get closer to the finish line. the debt ceiling looming ahead. the covid delta variant. we know all have to wear masks. joe: that is correct. in d.c. if you are indoors you have to put the mask back on. we have had a roller coaster of a week in washington. you just picked through the big headlines. a couple of days ago infrastructure was left for dead. now it back on the right track. covid we felt better we do right now. the announcement from president biden, mask up or get vaccina

the former vice chairman of the fed with david westin at 12:00.ng. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. jonathan: from new york city for our audience worldwide, good morning, good morning. equity futures advanced but the 10 year yield gets the headline. a break of 1.30. 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. ♪ jonathan: from new york, we begin with the big issue. where did all the bond bears go? >> rates have been rallying and flattening. >> 40 basis point move lower is

coming up, tyler goodspeed joins balance of power with david westin.. we will talk about the u.k.. the health secretary pointing to big numbers for covid. this is bloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want

alix: i also take the dorky finance view of this, stealing it from my conversation earlier with david westin big hit to nbc because not only do you have the japanese tennis player out, simone biles out, it is really like, why are you going to tune in of all of the big stars are out? dani: naomi osaka, yeah. alix: we don't know if simone biles will be competing in other individual events. dani: now that skateboarding is over, i have nothing else to watch. [laughter] alix: exactly. i have nothing else to say to that. dani: i have nothing to add, so fair enough. [laughter] it is a really big week not just for the olympics, but for tech as well. we have microsoft, apple, and alphabet earnings today. let's start with apple. matt bloxham joins us. you have been all over the story today. apple, did they have enough fancy new tech to entice buyers in to make a strong court of them? -- strong quarter for them? matt: i think the iphone is going to come through, and they also lunched new imacs and ipads. the services business as well which is now over 20% of total sales come a higher margins than the p

. ♪ david: i'm david westin.y the united states secretary of commerce, miss gina reminder -- gina raimondo. let me start with something very much on your agenda, and that is microchips. we keep hearing from companies. there's a lot of shortage that is really interfering with manufacture in the united states. where are we on that? are we seeing the backside of that problem? sec. raimondo: i'm afraid we are not. good morning. nice to be with you. this is a real problem. we are seeing improvements. just yesterday, i had a call with a number of executives in the auto industry. it is certainly better than it was, and i expect it will continue to get better with each month as we move further away from the disruptions caused by the pandemic, but fundamentally, the only way to solve this problem is that we need to make more semiconductors in america. there's a bill working its way through the house right now, which is a $52 billion investment in the semiconductor industry, and that is absolutely essential in order for us

anthony fauci speaking with david westin. officials updated travel warnings for the u.k., and indonesia. let's get the latest from bloomberg senior medical reporter michelle cortez on these warnings and what is driving them? >> the u.s. is concerned about the spread of the virus, the delta variant. they are urging americans to not go to places like the u.k. and indonesia. they raised the level to very high to not travel to those locations. in india are there had been a significant outbreak earlier this year, they are lowering that risk, because india is starting to get the virus under control. but we are still very concerned about how much infection there is circulating in the world. the u.s. is saying to people, be very cautious about where you go and when you go. haidi: we heard from dr. fauci, essentially pleading with americans to get vaccinated. are we seeing progress in these states where vaccine levels have plateaued? >> there is a very slow progression of vaccination in some of these places. you would hope as people a

shery: youkyung lee --gina raimondo speaking to david westin. breaking news.e hearing that the robinhood ipo is set to be pricing at $38 per share. that would be the bottom of its marketed range which was $38 to $42 per share. robinhood will start trading on the nasdaq stock get under the symbol hood. they reserve 35% of their shares for their app users. fitting their self-described mission of democratizing finance, but robinhood has also warned in its finding that because of this high retail allocation, this could lead to volatility in the shares. bloomberg has learned that robinhood is pricing its ipo at the bottom of the marketed range of $38 per share. plenty more to come. this is bloomberg. ♪ shery: we are counting down to the start of trade in tokyo. tons of earnings out today including panasonic, renaissance, and another company. nissan has been raised to buy at cls say. -- clsa. we are also watching softbank. it is said to be selling a large part of its stake in uber to cover those losses in their investment in didi global. haidi: what a disaster that