kim, logan, dudley, various characteristics similar— dudley, various characteristics similar to _ dudleytorms like running around like a tornado for example. it's around like a tornado for example. it's fun— around like a tornado for example. it's fun and — around like a tornado for example. it's fun and innovative way of naming — it's fun and innovative way of naming these natural phenomena. | naming these natural phenomena. i think naming these natural phenomena. think the naming these natural phenomena. i think the storms can wait a bit because i'm still waiting for summer to return. we gotta stop there for now. we will be back again at 1130. we will be back again at 1130. that's it for the papers. jo tanner and joe mayes will be back in just over half an hour to look at more of the stories being covered by newspapers and websites here. thank you forjoining us here on bbc news to look at those front pages. plenty more coming up. for now, cheerio. good evening. some big transfers have been completed today, on the final day of this summer's transfer window — with cristiano ronaldo final

we will get to that with bill dudley here in a moment. lisa abramowicz and tom keene.y leinz in for jon ferro. dow futures up 38. a nice correlated lift to the market with higher yields, 1.27% , up to basis points on the 10 year yield. the dollar, fractional weaknesses well. oil with a lift, and goldman sachs out to $80 a barrel as well. on the granularity of the market, romaine bostick. good morning. romaine: we talk about the broader market moving higher here in the premarket, but some of the individual movers, the most notable ones are going down. keep an eye on some of those delivery companies, ride-hailing and food delivery companies. back in november, the state of california here in the u.s. past that ballot measure that basically exempted a lot of these independent contractors from various state labor laws. a judge on friday said that ballot measure violates the state constitution. a lot of analysts already saying ultimately, huber and doordash and the like will still win this level -- huber and -- uber and doordash and the like will likely still win that battle

let's get another take on this, bill dudley is weighing in.is, quantitive easing must stay in the bull market beyond what is consistent with longer-term fundamentals. he did suggest investors would be wise to take advantage of the recent rally and take money off the table before the -- ends. it is great to have you on the program, bill. when does that largesse finally run out? we had strong numbers on friday in the jobs report. we get a cpi number later this week. how close are we? when does the fed run out of excuses and finally pull the trigger on this taper? bill: they are obviously getting closer, because the language is talking about the fact for substantial tightness. they have already made progress. but i think we are a couple months away from when we will see the announcement, then may be a month or two after that the taper will start. it will take eight or 10 months to complete. then we will start to worry about when the fed will raise short-term rates. alix: does not result in a tantrum? bill: the risk of a tantrum is less this time

more insight from some wonderful guests, including bill dudley, the former new york fed president. he will be joining us shortly. the equity market near all-time highs. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. the u.s. senate is set to approve that 550 million dollar infrastructure package. it would be the largest infusion of cash in decades for roads, bridges, and other domestic projects. the bill still faces challenges in the house. speaker pelosi said she will hold onto the bill until the senate also takes up the larger spending plan. according to economists surveyed by bloomberg, today's jobs report is likely to show the u.s. adding about 858,000 jobs last. the rollout of vaccines has encouraged businesses to reopen and consumers to return to shops, restaurants and bars. more than 30 u.s. trade groups have called on the biden administration to resume negotiations with china to remove tariffs. the trade groups include influential organizations such as the u.s. chamber of commerce. public universities in the u.s. faces student lawsuits over coronav

dudley. lisa: do you think we are going to get an end to the fed's largess?fed largess is not the same as an end to the fed's largess. i will say, there is a distinct and there. jonathan: do you think papering leads to high yields or lower yields? lisa: great question. jonathan: i think the answer to that is obvious. lisa: it is absolutely not because when people were concerned about that a little bit ago, bond yields fell. jonathan: tom is struggling this morning. we will get you through it. tom: i'm looking at 31 billion dollars large from canadian pacific, and i think it speaks volumes about what you will see with corporations and a boom economy. they are going to do things. i got to be optimistic about that. i just don't have the angst on tapering others do. maybe i'm wrong. jonathan: marilyn watson of blackrock -- tom: she's like me. jonathan: i imagine she might want to talk about it. your equity market unchanged on the s&p 500. your bond market unchanged. yields at 1.3237%. it has a summer feel this tuesday morning. tom: it does. i should have worn bei

area we need dudley spam and he lives in chasm province. more than 100 kilometer south of manila, his father tested positive for covey 19 before there was even talk of locked down. yet they say it took the 3 days to find him. a hospital that had a bed in one of the hospitals. my dad was just in the parking lot, the hospital staff probably does. so just leave the hospital premises and maybe try the provincial hospital when we arrived there. the doctor for pricing the discouraged us to even try re locked their dudley's father survived. but had he waited a few more days to be admitted, does we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do laugh don't r a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila streets aren't as empty as one would imagine during the lock down more businesses are allowed to operate and more people are out in about. but health department officials say

the former new york fed president and bloomberg columnist bill dudley tells bloomberg the fed is notg his eye off inflation in favor of jobs growth. >> monetary policy is to drive the economy to full employment, to get as many employed as possible. there are those who are less attached to the labor market. the fed was arguing the inflation spike we have seen is likely to be transitory, and if the fed were wrong, the market would respond. the market reaction was positive to the speech. the fed is going to let the economy run, inflation is not going to be a problem, but the fed is not ignoring that. >> he made that clear, but there are some people who are reticent about what gets us to maximum employment. how far do you have to let inflation go to get us there? we really don't know. this is a new communication of what the mandate is and i guess people are starting to put some sort of metric there that they can measure and i'm not sure those of us who are not economists know what that is. >> german powell laid out -- chairman powell laid out a few things, pressure on wages and increase

bill dudley really stepping up and supporting chairman powell for reappointment. mr. of course, senior economic advisor to bloomberg and former president of the new york fed. we have a packed segment here. we are going to get right to it, with futures up seven, and it is real simple. there's a wall of money out there, which means i think still come upon price goes down, you'll goes up. is it something not that, dave wilson? did i do ok there? dave: you did just fine. that relationship is kind of breaking down a bit. it is something stephen panelli over at knowledge leaders capital pointed out the other day. we have seen the s&p 500 setting record after record. it came really close to doing that again yesterday, there kind of tailed off. we may be looking at another record today. here's the thing, though. you have not seen bonds go along for the ride. prices have fallen, and that means yields have risen. so that is what the chart represents. by inverting the yield, you can soon see that direct relationship in terms of price. you are just not seeing what you saw earlier

we are joined by louise dudley from hermes fund managers.your key takeaways from this earnings season and what portfolio changes you have been making in light of some of these details. louise: so definitely a really strong earnings, record beat across both revenue and earnings, and really setting companies up for a strong second half of the. we continue to see those economic rebound names coming through strongest. on the financial side, a lot of the companies coming out with pure provisions, things looking more rosy. that cyclical, that value risk on trade continues to persist. and so really, that's the key thing. cannot talk about earnings without mentioning inflation. it was probably the most -- probably the word we heard the most. a lot of companies where they have big labor forces, we are seeing that tight labor market coming in and prices coming up. definitely in july, we saw those companies which had strong profitability being rewarded, and those companies that had control of their pricing power, that kind of large cap tilt, also being

do you know what she says to the bumper to bumper to the dust hucker dudley bush case. what is the reason is khaki colored with a mother come look no america st. hodges, i live from diagram to guantanamo. he spent 4 years in prison on the caribbean island. go who did many good. he could get them. when i went to go, they said they should have the number that they were done. the last piece could be cut. somebody cut them off. there was no telling what would you call tech will come a 100 a month? well, you get to, i gotta lose the whole the caller done. so can get that and get burned out. that would really, but when was he was lou, but such whom are you really to go to 0 more to dummy. thus for my holiday to move the 3, the will auto body zone. you know, was that all students are a little bit older, but doesn't matter what level the cell phone does on a saturday the the well, america is crazy frat party. gamma stan is over 20 years, leaving behind quite a man. americans love buying homes. ah . this would have fundamental part of how our political leadership and our country

one is going to do you know what else users to do bonded about one which, which other does lucky dudley bush case of that? i could it would. it was redone. is color good. i'm on a classroom, i did come look at the america cent hodges. i live from diagram to guantanamo. he spent 4 years in prison on that caribbean island. the go that i'm going to give you could be did you want to go day by day or there cuz she had the number that they were there. she could have somebody cut them off. there was no money to go back or come i had enough but a month to get to i gotta go buy the whole the call and done so can get that $1.00. but that would be the one that was that was the, you know, but for whom are you sure? who really, if you go to the more that what you've done the gospel money holiday to move sarah the 3 the will about, oh no, no. was that all the students are little bit of color, but doesn't matter was the saturday, the so that's a little to do is on a saturday the, the, the the the families that mark mark your function, you go with a good way to show me was it to another do domain, john

i was given my ha, the good always left them enough though so human had been dudley but what he thought he was on your part that of non show you the avenue from out of fission. 11 . i love the video michelle from the how you smoke emory. among me. meanwhile, nasa is egypt, syrian lyons fell apart, left the house. the mom had the fish model and i had the candidate in a common landa. hannah has emphasized kind of long but the moment and he can get information on who you want to do but does not get a meal. half oldman must go under that gun puddle. mother yelled him through fun who read after you, but must have noticed the ideal. i'm bad to see. i don't you don't get mad. hide you from a lot of scary. yeah. yeah, i mean know how face, who would later become syrian president was sent to watch and tina as military attaching. but did he meet eli cohen there any co, in lesser way? yes, i had the navy steam or the higher had me living in the how you look good going to through your head sleeping of my why this p. now your mill, i played mirage. l option for hulu. do the value i had received the

up to. katy ah, i don't know what she's there to the bomb which, which other zealand does hucker dudley bush case of what is done is going to go on a classroom. i did come up to the america cent hudgens. i live from diagram to guantanamo. he spent 4 years in prison on the caribbean island. the go that i'm going to give you could be did that i want to kind of go over. i said that they could the number that they were, the last piece could be cut. somebody cut off, there was no one to go back or come i had enough but a month to i gotta lose the whole the cold done so can get that one get burned. but when he's in or was he was lou but such marcella, you really, if you don't go to the more that was dummy thus for my holiday, ah, to move the 3 the will banos. i was a little little bit of color but doesn't matter what level. so could have been without for a little to do on a saturday. i what we've got to do is identify the threats that we have. it's crazy plantation let it be an arms race is often very dramatic. development only personally, i'm going to resist. i don't see how that strategy wi

so human had been dudley, but what he thought he was on your part that of non show you the avenue from out of fission 11. i love the video michelle from the how you smoked, maria. love me . meanwhile, now says egypt syrian lions fell apart. la. how's the head of his model for an hour? i had the candidate in a common landa. hannah has emphasized kind of long but the moment and he can get information on who you want to do but does not get a meal. half old men must go doors that can puddle. mother yelled him through the whole new reed after he must have the whole value value and you don't get mad. hide you from a law. scary, but i mean, no hoffers who would later become syrian president was sent to watch and tina as military attaching. but did he meet l e cohen? there any co in lesser way? yes, i had the native steam or the higher had me living in the how you look good going to 30. yeah. you had sleeping of my why this p. now you will actually mirage the la option for hulu. do the value i had received the number in the coin building in the, in the could they live assistance work if we sha

should go up to katy ah, i don't know what to do about bon which which other diligently dust hucker dudley bush case what is the reason is khaki colored with a mother come up to the america st. hodges. i live from diagram to guantanamo. he spent 4 years in prison on that caribbean island. go. who did? i'm going to get it. could be did you want to go? they said they could have bought the last piece could be cut, somebody cut them off. there was no telling what the quarter will come. i had enough but a month to get to i gotta lose the whole the colon done. the 2nd just that one get burned out, that would leave you. but when he was, he was the, you know, but for us, for whom are you sure really, to go to more dummy gus for money holiday. ah, to move the 3. the will bottle zone. you know, was that all the other little bit going doesn't matter was never the so could have been without for a little to do is on a saturday the i choose so what we've got to do is identify the threats that we have. it's crazy foundation . let it be an arms race is on often very dramatic development. only personally,

so human had been dudley, but what he thought he was on your part that of non show you the avenue from out of fission 11. i love the video michelle from the how you smoke emory among me. meanwhile, nasa is egypt, syria lions fell apart. last the house. we had the fish model from our live. yeah, i had the candidate a comma ladder. hannah has emphasized kind of loud but the moment and he can do emphasis on whom you want to do but does not get a meal. half oldman must go under that gun puddle. mother yelled him through the whole new reed after you, but most of the value value, you know, if you don't, you don't get mad. hide you from a foster law. scary. yeah. yeah. i mean, know how face, who would later become syrian president was sent to watch and tina as military attaching. but did he meet eli cohen there any co, in lesser way? yes, i had the navy steam or the higher had me living in the you look good going to 30. yeah. you had sleeping of my why this to now? you will actually mirage the option for hulu doing the value i had was the number in the coin i a 1000000000 the unless good deal

dudley bush case. what is done is color good. i'm on a classroom. i did come look at the america cent hodges. i live from diagram to guantanamo. he spent 4 years in prison on that caribbean island. go that i'm going to get a good clue. so i wanted to know david, i said that they could have the number that they were the last piece. could you have somebody cut them off? that was that no, no at the one with the quarter will come. i had enough, but i will get to i gotta lose longer, but the whole, the cold done so can get that one. get burned out. that would leave you. but when i was here for, but there was no, but for whom are you sure who really to go to the more that what you've done a gospel money holiday to move the 3 the will about. oh no, no. was that all the students are little bit of color, but doesn't matter. was the saturday, the so that for you to do is on a saturday the, the the the, the, the the is the still large enough to satisfy the ambitions of jeff, based on, you know, it's got its tentacles in so many aspects of the economy. there's

so human had been dudley, but what he thought he was on your part, that of non show you the avenue from out of fission 11. i love the video michelle from the how you smoked mary of love me meanwhile, now says egypt, syria lions fell apart. last the house. we had the fish model from our live. yeah. i had the candidate a comma. hannah house in fish. kind of a lot of the moment and you can do in fish on whom you want to do but does not get a meal. half oldman must go, don't go that gun puddle. mother yelled him for a whole new goody, but must have noticed the ideal. i'm bad to see. i don't you don't get mad. hide you from the la. scary, but i mean, no hoffers who would later become syrian president was sent to watch and tina as military attaching. but did he meet eli cohen there any co in lesser way? yes. i had the navy still had me living in the how you look good going to 30 you had sleeping of my why this t now you will actually move to the option for halo do we had received the number in the coin building in the, in the could they live assisting, work if we shall be fed well, the other

skeptics in the german capital descends into may have with protective clashing with police. belinda dudley just banned all anti lock down demonstrations amid a full wave of infections. also had among the stories that shaped the week. a case of negligent homicide is launched after a huge explosion that a key chemical plant in germany kills 5 people and bought a mental group. greenpeace alarmed describing the possible impact. and here the main question arises, is an acceptable to place this as it were? powder tags, near large settlements, a sporting hero or weak willed in the face of a challenge. opinions divided over us gymnasts to quit, to more and then take finals to have a mental.

those human had been dudley, but that's what he thought. he fairly evolved. you're positive non show you the avenue from out of fission live and i love the video myself and how you smoke. maria. one me. meanwhile now says egypt, syria lions fell apart. let them know how much had fish model fun. oh, yeah, i had a candidate, a comma. hannah has emphasized kind of louder, but the moment and he can do in fish on whom you watch a little but does not get a mule. half old man must go. don't go that gun puddle. mother yelled fun home, but must have noticed value value. and you don't get mad. hide you from the oscar? la. scary. i mean, no hoffers who would later become syrian president was sent to watch and tina as military attaching. but did he meet any coin there? any co, in lesser way. yes, i had the navy steam or the higher had me living in the how you could going to through your more of my why had tea, normal abilene, rice dealer and for hulu, you w, i had received the number eli coin building in the, in the could deliver specific book official, be fed well, the

those human had been dudley. but what he thought he fairly evolved positive non show you the avenue come out of fission live and i love the video myself and how you smoke, maria. love me . meanwhile, now says egypt syria lyons fell apart. let them know how the mother had fish model fun. oh yeah. i had the candidate a comma. hannah has emphasized kind of louder but the moment and he can look the fish on whom you watch a little but does not get a mule. half old men must go. don't go that can puddle mother, yet fun home without good but must have noticed value. i'm bad to see. i don't you don't get mad. i heard you from the foster la. scary. i mean, no hoffers who would later become syrian president was sent to watch and tina as military attaching. but did he meet l. e cohen? there any co in lesser way? yes, i had the navy steam or the higher me living in the you look good going to through your, my head clicking of my why this t now, your mila leon? rice, l for larry, we're doing the value i had was the number in th

the doctor surprisingly discouraged us to even try or lost their dudley's father, survived. but had he waited a few more days to be admitted? does we says the story might have turned out differently, but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do laugh don't r a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila st aren't as empty as one would imagine. during the lockdown, more businesses are allowed to operate and more people are out and about. but health department officials say it could take weeks before the impact of this walk down is spelt barnaby low. i'll just hear manila ah, this is al jazeera and these, all the headlines. thousands of afghans have washed onto the tarmac of cobbles, international airports. many are desperate to escape telephone room, at least 2 ons men of the shots by us troops. oh, commercial flights from the airport have been cancelled, but my pride has more from kopel. the taliban, we know, has set up a cold and tried to stop more

the triads, dr. surprisingly discouraged us to even try or lost their dudley's father survived. but had he waited a few more days to be admitted? does we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do a lockdown or a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila streets aren't as empty as one would imagine. during the lockdown. more businesses are allowed to operate and more people are out and about. but health department officials say it could take weeks before the impact of this walk down is spelt the barn to below. i'll just hear manila and reminder that you can catch up any time with all stories we're reporting on, including of course, we'll events in afghanistan by checking out our website. the address for that is our 0 dot com. and you can also watches live by clicking on the orange live icon. audi 0 dot com ah, the top stories aloud to 0. despite the unfolding crisis in afghanistan, the u. s. presiden

when we arrived there, the judge doctor, surprisingly discouraged us to even try re locked their dudley's father, survived. but had he waited a few more days to be admitted? does we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do laugh don't r a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila streets aren't as empty as one would imagine. during the lockdown. more businesses are allowed to operate and more people are out in about. but health department officials say it could take weeks before the impact of this walk down as spelt barn to below. i'll just hear manila, iran, so record number of daily code 19 deaths as new restrictions are imposed for the 650 death went down on monday and more than 41000 new cases were reported. cities across iran have entered a 6 day lockdown as adults ovarian drives, a 5th wave of infection. religious prime minister movie dean ja scene has resigned, is stepping down because he lost his maj

hospital when we arrived there, the doctor, surprisingly discouraged us to even try re locked their dudley's father, survived. but had he waited a few more days to be admitted? does we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down in the past when you do a lock down or a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila st aren't as empty as one would imagine. during the lockdown. more businesses are allowed to operate and more people are out and about. but health department officials say it could take weeks before the impact of this walk down is spelt barnaby low. i'll just hear vanilla phill ahead here on to theater will have the forward for you and for so long to begin life. but you know, most of the, when they're behind the scenes, they're in trouble financially. joe will have more after the break. ah, brought to you by accenture. let there be change. ah cruise me duties by extension that there'll be change. oh, a fine for the sport. here's you. hell

thought mr. dudley, the situation was very bad with their so that's why we came here. when taliban took my indian brothers and sisters, i was very long with my son in law, the daughter and 2 grandchildren. we were with them for at least 5 hours. and he told them that the brothers and sisters from india have come for our help for have gone his son. but still, they treated us tension as going between russia and nato in europe. after a series of incidents between their military forces of co says native spy planes stepped up, attempts to gather intelligence from the black sea region. anderson spent the day with british royal air force pilot stations in the remote, well meaning coastal city on concentra. they call them q r a's quick reaction alerts for the physical sprint to the thrust of take all within minutes. these nato fighter jets can intercept or track russian warplanes is the latest incident, top left of the cockpit or russian fighter jet, intercepted of the romanian coastline. it's close with the room for mistakes. 10 meters would seem quite close to 21 on initiate

minister has threatened to hit back out to ron off claiming proof that it carried outside stays at dudley tanker. time in the b and c. 2 crew members were killed supposedly by try and strike on the vessel link between israeli billionaire . however turan denies response but a see on pledges retaliation of attacked. point of fear reports from television tension can the region are running high and med concerned that they could be a confrontation between iran and those imposing her setting. we had seen the red treat increased dramatically, particularly as these lady prime minister, enough to be bennett has sprung words for tyrann, shall not be off. so she ron is the one that carried out the attack against the ship. intelligence sources have uncovered evidence of this, and we expect the international community to make it clear to the iranian regime that they have made a serious mistake. in any case, we know how to convey the message to iran in our own way. now the united states and united kingdom have joined israel in pointing as an substantiated fingers at rand, blaming her for being behind t

the judge, doctor, surprisingly discouraged us to even try re locked their dudley's father, survived. but had he waited a few more days to be admitted doesn't we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do a lockdown or a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila streets aren't as empty as one would imagine. during the lockdown. more businesses are allowed to operate and more people are out and about. but health department officials say it could take weeks before the impact of this walk down a spelt barn to below. i'll just hear manila zambian president go. longo conceded defeat on monday officer land slide the election when by opposition leader k in the g. lemme. he now faces the challenge of reviving an economy in turmoil. how the more tasa has more from the capital lusaka and corporation? is it really the final emissions in an address to the nation president edgarland except and he last last week selecti

actually be a little bit stronger we could see some guts to maybe 35 miles an hour, meteorologist jim dudley delivered the grim firefighting forecast in a video update saying winds will come from the southwest overnight these firefighters sprayed down trees near strawberry trying to prevent the wind. from picking up embers and already persistent problem causing spot fires that can happen nearly a mile away was described to me as a treasure hunt as they're trying to find these spot fires throughout the community to ensure that the structures remain intact and not damaged when spot fires occur of fire behavior expert says there's a 90% chance they will have to take action on that new fire in the days to come. we'll see that increase up to 95% and we'll see that spotting distance. stay around three quarters of mile one of the spots that was thrown yesterday afternoon off of division india did end up on the other side of the strawberry creek, and that's a problem for us because that's outside our existing containment line. another issue the thick layer of smoke as seen from this camera at sierra

is there no room for rethink of those policies and, you know, and saying the motive because artic dudley suddenly some of the financial services industry takes cocaine and they're the ones supporting the liberal privatization. presumably, the motivation here is, is columbia and norco state under, under this man, even do k. and do you think he's using the current violence to try and call off elections next year? is that, is that what the uptick is about to stop a progressive being elected the, you know, it's difficult because columbia tried to find a civilian democracy. it only had military dictatorship for very the period in the 1900 east, throughout the 20th century. and i would be surprised if elections did not walk like clockwork, in the sense of, you know, according to the calendar. however, the kinds of slot and why lends that might more those elections as another question altogether. and if we look back to the previous electoral. ready site in the 21st century we can certainly see where fraud and violence are played. an important. ready role, namely, in electing, i'll believe it pr

ms. dudley. the situation was very bad with her. so that's why we came here. when taliban took my indian brothers and sisters, i was there along with my son in law, the daughter and 2 grandchildren. we were with them for at least 5 hours and told them that the brothers and sisters from india have come for our help for have gone his son. but still, they treated us. we call from the devastating earthquake that hit haiti, survivors are facing severe shortages of aid and shelter. the government has been criticized. fritz responds to the disaster. our team went to one makeshift campus survivors and found appalling conditions. john holeman has that from location called the coffee. the liquor football stadium has turned into a rough camp for those left homeless, buy saturday's earthquake and a symbol of the lack of help that getting schools of families is struggling in this muddy field. there's no water boiler or effective shelter, a piece of plastic to cover your family is a luxury here. value is when it rains, we get wet. when you lay down, you get wit. we don't ha

the triads, dr. surprisingly discouraged us to even try re locked their dudley's father, survived. but had he waited a few more days to be admitted? does we says the story might have turned out differently. but tough experts, warry, the situation could get worse. it seems like it's not slowing down at all in the past when you do a lockdown or a c q, maybe about a week later you'll see some slowing down, but we have not felt that manila streets aren't as empty as one would imagine. during the lockdown. more businesses are allowed to operate and more people are out and about. but health department officials say it could take weeks before the impact of this walk down is spelt the barn to below. i'll just hear manila, iran has it. a record number of daily covered non teen death, just as new restrictions are being imposed. 655 deaths have been reported over the past 24 hours with about 41000 new positive cases, all non essential businesses and are closed for a week. and the domestic travel band is in place for 2 weeks. iran has the highest number of kevin 19 cases in the middle east. ar

we heard a rather interesting piece by a former fed governor, bill dudley, just earlier this week.should take into account that the constraint that the fed is under. he is saying that, well basically, the fed and the u.s. has a bit of a difficult situation because lawmakers on the right and left disagree so widely on climate change. it's not like it is here in europe. the fed needs to be independent. if i read you this quote, it is saying that if the central bank explicitly includes climate change as a monetary policy condition, lawmakers could accuse it of overstepping its mandate. he goes on to say that if this does happen, the fed's independence could be under threat. it needs that to make its monetary policy decisions. it could be at risk of having political interference as well. tom: those political undercurrents hard to ignore on today, -- aren't they? thank you very much for that breakdown, ritika gupta. the real jackson hole event might actually be happening 7000 miles away, according to our mliv strategist. we will discuss where in the world we see the main event actually

bill dudley scheduled to join us, the former president of the new york fed, in a bit. right now, lori, it is a resilient market. it is a market that can break out to new highs? >> thanks for having me, tom, thanks for having me, lisa. we will get a pullback by the end of the year, so we have a target of 43.25 on the s&p. what is interesting in the price action last week, it felt like we had a growth skirmish to start the week. we saw the index falter and the fed defectors leading the charge. when that happens, the market cannot sustain this move to the upside. what we thought toward the end of the week is that those jitters calms down a little bit, tech started working, and we started to see the stability in the index return. but markets not really climb. when you have that nervousness and the shift to high-quality, it is a very delicate balance. it did not work for most of last week. lisa: how big is this worry if we have the fed that is packing the market come if we have the greater potential for the fiscal stimulus if the slowdown does persist? doesn't policy suppor

tom: with the uproar of bill dudley, of course supporting bloomberg with his good academics, when he was new york fed president it was something about ipads. there is a disconnect and it is tangible. i sympathize with our viewers and listeners. they do not care about the dallas mean. jonathan: that is not with the bill looks like at the end of the month. he did not get to cut off the bits you do not like. maybe you do. i don't. let's get to our first guest, jeff henriksen, university of oxford senior fellow. equity still the best pool to be fishing in. why? jeff: thanks for having me. it is been great listening to you guys talk about everything. we do not look at asset classes as a monolithic security you need to embrace or avoid. we look at every asset classes an opportunity. when we look at the market today we think equities still provide the best opportunity for investors to find ideas to place capital. that said, it is becoming more and more of a stock pickers market. you have to understand the type of businesses you are buying, the valuations in which you are buying them. if i h

lisa: basically, the fed put that has been ongoing, and bill dudley even said the dominant factor in yields being as low as they are, is trickling over to the credit side. companies refinancing at the fastest pace ever. i think we were framing the debate well earlier today, when you were talking about can the fed raise rates and move away from their stimulus if everybody is buying into it and following them? how disruptive will it be for them to change course if everyone is just saying we don't want to fight you, we are on the same pages you? will that necessarily lead to a correction that the fed is not prepared for right now? tom: do we change the parlor game over the fed when we see a headline that tyson foods will require vaccinations from their u.s. workforce? that filters into our game. jonathan: we talked about august as being passed through to september because september, we are waiting for the supply-side response. more people coming back to work, easing some of the supply constraints. that is how we respond to this delta variant in the coming months. that's why this headlin

tom: that was bill dudley and jeffrey lacker.ollowing the virtual jackson hole event, markets will be watching when the fed will begin tapering its bond purchases. we still don't have a timeframe. u.s. jobs data later this week may signal whether the u.s. economy is moving back to normalcy. monica is still with us. how closely will you be scrutinizing the jobs data friday? to what extent do you expect a guideline or a framework for when the tapering starts? >> i think that jay powell last week was quite clear in citing the importance [indiscernible] it won't be just friday. [indiscernible] however, we don't think the participation rate will recover anytime soon. in any case, it would be also important to look at wages. what we are looking at today is much weaker than expected in the second quarter. it will be weaker in the third quarter. consumption is a big chunk of the gdp figures, so i think that certainly the unemployment that we need to look at as part of the picture. tom: we have seen some of that high-frequency data flashi

tom: talking to bill dudley there, former president of the new york fed, he's thinking very much about getting the real yield back. the dislocations in the market are not only part of this jobs report, but the one coming up for august. lisa: not only with the headline number, but with some of the details. it was interesting that ellen zentner really focused on the blot aspect of this employment report, and particular the wage friend. want to bring you this in the dow jones newswire, walmart is extending bonuses to keep its hourly workers. how much will this affect hourly wages going up in this report? tom: also, the united airlines headline. so much going on right now. what is so important about this hour on radio and television nationwide is it is about the markets. the bond market, yes, the american economy, and the stock market, how they react. jonathan: the s&p 500 coming into friday, at record highs. we advanced by 0.03 percent. we have walk you through the bond market, 1.2499% on tens. euro-dollar negative, the euro weaker, dollars stronger. crude had a look at $70 earlier. here

guy: that was bill dudley speaking to alix and myself yesterday on his outlook for the fed taper.mes ahead of tomorrow's u.s. epi data for july. the data that has been coming out of the united states has been propelling the dollar higher. there the bloomberg dollar index. you can see the spike on the right-hand side of that chart. if we get a big cpi print this week, do we see that extending? mark mccormick, td securities head of global fx strategy, joins us. is that the set up? what if we don't get that? walk us through your scenarios. mark: i think that is a good playbook to thing about. what we have seen since the fed became a bit more hawkish in june is we have seen u.s. data surprises, when they are good, it is good for the dollar. we haven't seen that for quite some time because we have generally seen good global data has been bad for the dollar because it is reinforcing reflation. i think what we are trying to figure out is good u.s. data, particularly on the inflation growth side, helps us navigate a little bit of when we can have some clarity on when tapering is happening

actually be a little bit stronger we could see some guts to maybe 35 miles an hour meteorologist jim dudley delivered the grim firefighting forecast in a video update saying winds will come from the southwest overnight these firefighters sprayed down trees near strawberry trying to prevent the wind from picking up embers. and already persistent problem causing spot fires that can happen nearly a mile away, was described to me as a treasure hunt as they're trying to find these spot fires throughout the community to ensure that the structures remain intact. and not damaged when spot fires occur. a fire behavior expert says there's a 90% chance they will have to take action on that new fire and we'll see that increase up to 95% and we'll see that spotting distance. stay around three quarters of a mile, one of the spots that was thrown yesterday afternoon off division india did end up on the other side of the strawberry creek and that's a problem for us because that's outside our existing containment line another issue the thick layer of smoke as seen from. this camera at sierra at tahoe and an

bill dudley says he sees less chance of a taper tantrum this time. >> i think the risk of a tantrum this time is less because people understand the game plan. first we taper and then we raise short-term rates and then we start to let the balance street -- balance sheet strength. >> he is buying into our exposure to equities. let's bring in the ceo. great to have you back. with the correction come in the form of another taper tantrum given what the fed will do and how big could it be? >> we never know what will cause the next correction in the market. we know it has been a while since we saw any pullback of 5% or more. especially given the huge run-up we have seen year-to-date in the markets without any pullback so far this year. i would expect that to happen before the end of the year. investors should be prepared for it. >> we are showing that we have not seen that sort of pullback in a long time of more than 5%. where would you buy into if you were to jump into a correction? >> one of the things we are seeing is we were in midcycle. the early-stage recovery to more midcycle. that time

bill dudley and jeffrey lacher talking about the focus on inflation after jackson hole last week, whereome powell reiterated inflation is transitory and signaled tapering could begin before the end of the year. investors are looking ahead to friday's jobs data for further clarity about the strength of the u.s. economy as the delta variant continues to cloud the outlook for the u.s. and elsewhere. kit jukes still with us. interesting, you talk a little bit about the taper. you mentioned it in our last conversation. jerome powell broke that link between the taper conversation and the interest rate conversation. will we keep having to come back to that separation if we do continue to see inflation at elevated levels? not necessarily where they are now, but elevated toward recent history? >> it just means -- firstly, it means that the gravity of expectations is firmly in 2023. last week, there was much talk about if you started tapering comfortably before the end of the year, if you started in october, and did reduced from $80 billion of buying of treasuries a month, then quite quickly goin

bill dudley, the former head of the new york fed, is on board, too. >> he's done a terrific job.iculated policy in a very clear and consistent way. i don't see any reason why he wouldn't be. >> of course, our bloomberg economics team, our washington reporter, reporting the white house has heard people are realizing the market like certainty, jay powell said a good job. it will be interest in to see if biden announces by labor day that it could be around the corner. >> coming up next, the covert outbreak surging in malaysia. aggravating the semi conductor shortage. we will bring you the latest. this is bloomberg. ♪ ♪ >> hong kong exchange received a long-awaited clearance after asia index figures contract in collaboration with msci, giving global investors a new tool to hedge china risk. we spoke exclusively to the chairman and ceo of msci. >> there's always been a lot of talk about that with every emerging market the world, there's been a time in which the shares have been investable. there was a time in the past in which mexican chairs were called uninvestible. we have seen the

anna: that was the former new york fed president bill dudley, saying he would support jerome powell fors fed chair. president biden will decide who to nominate for the next four year term at the fed around labor day with powell favored for renomination. let's get a bloomberg business flash. >> shaking off concerns about the invest ability of chinese stocks following beijing's recent crackdown. in an exclusive interview, the chief executive told bloomberg that chinese markets have quickly rebounded in the past. >> we have to see how it all shakes out, but i think it is important to keep in mind that countries go through periods like this. there is no country that is exempt about this, including western countries. >>>> ride-hailing company dd has suspended its european expansion ambitions. a source says the plan to challenge huber in the u.k., france, and germany has been paused for at least a year and that some jobs will be lost. richard branson's virgin orbit is going public and it is a deal that values the satellite company at $3.2 billion. it is expected to provide the new company wit

a big show including tammy bruce, lawrence jones and the governor of alaska, mark dudley be. "varney and company" is about to begin. ♪♪ ♪♪ ♪♪ we got to get right back ♪♪ jackie: 943,000 jobs added in july. edward lawrence, breakdown the numbers. >> reporter: this is a huge number. the economy is adding 832,000 jobs per month over the past three months. the employment rate for july dropped to 5.4%. what is interesting is wages have increased 4% year-over-year but cpi inflation was up 5.4% over the past year meaning inflation is rising faster than wages. where are the jobs in this report? most were created in leisure and hospitality. 380,000 jobs in the food service, drinking places, that is what we expect the economy to reopen. transportation and warehousing up 49.7, 49,700 jobs. manufacturing adding 27,000 jobs but look at the government hiring jobs, 240,000 jobs. the vast majority local government education as schools get ready for the reopening in the fall, laborforce participation up 61.7%, that number is not rising as fast as the federal reserve would like it too but the

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empowerment i was fortunate enough to have a class in high school around financial education and i just dudley fell in love with it and as a person who is blind, i realized that, you know, my economic future was going to be determined based on, you know, decisions that i made. and so for the last 30 years i've been fortunate enough to be able to work in and around employment and economic empowerment for folks with disabilities really looking at some of those complex drivers of economic inequality and trying to address them through research policy and partnering. >> and how many people do you work with, are you a national organization or are you based here in washington, d.c.? >> we are based here in washington, d.c. there's about 38 of us that -- 15 of us in the washington, d.c. office and the rest of spread all over the country impacting some dc to alaska to colorado and california. >> now, as i said earlier, this week -- this past week was the 31st anniversary of the americans with disabilities act. i want to show our audience a clip of then president george h. w. bush and what he said durin