sanjeev gupta's company gfg alliance told us...tabilise "the businesses affected, repay creditors and create "a sustainable future for its uk businesses." lex greensill says his company "was never aware of, "nor conspired in the trade of, fictional invoices." and the "responsibility for submitting true documentation "rested squarely with the client, not greensill." he said credit suisse was aware that "greensill had no responsibility "to verify any invoices." investors lending billions had no idea invoices weren't even checked. if you're lending money against the value of an invoice, if there are any issues with that invoice, you might not be able to get the money back. so, it's absolutely critical that you do the work to understand whether or not that invoice is real. in 2020, the wheels started to come off. sanjeev gupta's gfg alliance companies were in trouble. we've discovered greensill capital knew ? because gfg was failing to make payments on its loans. instead of raising the alarm, greensill kept quiet, and used its own cash

sanjeev gupta's company gfg alliance told us...to stabilise "the businesses affected, repay creditors and create "a sustainable future for its uk businesses." lex greensill says his company "was never aware of, "nor conspired in the trade of, fictional invoices." and the "responsibility for submitting true documentation "rested squarely with the client, not greensill." he said credit suisse was aware that "greensill had no responsibility "to verify any invoices." investors lending billions had no idea invoices weren't even checked. if you're lending money against the value of an invoice, if there are any issues with that invoice, you might not be able to get the money back. so, it's absolutely critical that you do the work to understand whether or not that invoice is real. in 2020, the wheels started to come off. sanjeev gupta's gfg alliance companies were in trouble. we've discovered greensill capital knew because gfg was failing to make payments on its loans. instead of raising the alarm, greensill kept quiet, and used its own ca

sanjay gupta! now and i have spoken a few times over the covid lockdown, over the zoom interviews. which was great. we had a good time talking to you, we got information out there. but the thing that is coming back to me now, the emotional moment that i'm reliving was-- you were my last guest in this theater in 2020, on march 12 of 2020. we had no audience. there were some staff members. i have a photo right here. there you go. we had a few staff members out in the audience, and jon batiste was at the piano, right, jon? >> jon: yup. >> stephen: you were at the piano, and that was it. and we leaned on you to tell us what you thought we were about to go into. how-- how do you think we did for the last 15 months? ( laughter ) looking back on that night and the next 15 months, what's your takeaway from what we've experienced? >> it's so-- it's so hard to sort of piece this all together, you know, stephen. i have to say, first of all, it is really wonderful to be here. i mean, it just-- it feels-- ( che

vin gupta, a critical care pulmonologist. dr. gupta, i have to start with you.heard of those two vaccine skeptics, especially that last one, that young woman. >> good evening, jonathan, great to be here. you know what i'll say is she's probably referencing all this really, really preliminary data on therapeutics like iverbectin. there is no evidence from any high quality studies that ivermectin, which is a tablet, something that you use to treat your pets of a tapeworm, is safe and effective against treating covid-19 in the human body. those studies are ongoing, we're having due diligence here. if there was actual data that the nih looked at and said this is a miracle drug for covid, we would all be using it. that data does not yet exist. so this is one of those strawmen arguments here to not get vaccinated because somehow we're depriving people of a better option. it's false, it's wrong, and it's a distraction. >> you know, state senator hendren, i'm just wondering listening to governor hutchinson saying basically mea culpa, and also saying things change. i've

i am ritika gupta. this is bloomberg. ♪ am ritika gupta.s is bloomberg. ♪ >> [indiscernible] i think this weekend is likely to see us improve the debate and voting on this measure as soon as the weekend, slated this monday. jon: dick durbin there. alongside tom keene and lisa abramowicz, i'm jonathan ferro. hitting the price action in your equity market on the s&p 500. futures up 12 and we advance by about .3 percent. david kostin in the team raising their price target to 4700 from 4300 for year. into the bond markets, yields unchanged, euro-dollar doing not a lot, 1.1842. positive 0.04%. it claims up two hours and 12 minutes away. tom: important after the tough adp number. i want to point out the vix is constructive for the bulls. as you well know, and this is a point of massive argument here at team surveillance, amory harden moving from london to washington, it has been a strain, the shift from -- tea is horrible, garbage water, and she has coffee to this morning because she has been reading over 250 infrastructure amendments. how do the

sanjay gupta. >> let's get a sense of where we stand right now in this country 18 months into the pandemic. joining me is harry. let's talk about where we are. >> right. look, here we are. seven-day average of new coronavirus cases. not as high as in december and january. look at this going back up again nearing 100,000 new cases a day. you spoke about hospitalizations in that opening. again, what do we see? we see we're not as high as that spike as in december and january but back all of the way we go with 50,000 new hospitalizations. if you look at cases and hospitalizations, not a pretty picture. >> 50,000 not headed in the right direction. that's the issue. heading up. talk to me about where this is all happening compared with where we know people are vaccinated? >> it's so important. hot spots are in places where there are lower levels of vaccination. this is new coronavirus cases. seven-day average. top 25 most vaccinated states, on average 14 new cases per 100,000. look at the bottom 25, mor

gupta, and let's talk about the medical aspect.entive-wise, i have a nephew who plays college baseball and he had to be tested at 6:00 in the morning, and if he was vaccinated, they would not have to be tested at 6:00 a.m., and for those college kids they were vaccinated, because they did not want to be up at 6:00 a.m. >> and chuck, if you have a close contact exposure of somebody who has confirmed covid, cdc revised that perhaps you would need 72 hours after that exposure, but in my view, so it is not necessary for a group of individuals who had a known exposure in that group, but for what peter said, in addition to the friction exposure, and nfl is a leader here in adopting this model to don't get vaccinated not only are you affecting the way that the team's ability to eat out on the road, but you will have to mask up, and stay in your room on the road, but with the success of the seahawk, and these are the healthiest people on planet, and outside of interacting with the sports medicine doctors and rehab therapist, they don't hav

i'm rick agrippa. -- i'm ritika gupta.s is bloomberg. ♪ >> at the end of the day, there's got to be good, renew motive job opportunities for middle class and lower income americans paying rising wages. that is what we have, with a robust recovery behind us, strong tailwinds, strong job gains, wages going up, and very closely connected to the rescue plan. tom: jared bernstein of the council of economic advisers, speaking of divide and plan, a $1 trillion overlay expected there. we spoke in the last hour about afghanistan, about and -- about an eventful day near the kabul airport. we turn now to annmarie hordern. i look at the infrastructure bill, and what is so telling to me it is it is nowhere to be found in the debate of the zeitgeist. we had a vote. policy -- pelosi won, and it is gone. how gone is the introductory bill until september? annmarie: you make a good point. the is really prime minister is visiting today and having a meeting with the president, but we are seeing a little bit of scoop come out in terms of what

powered by more than one -- i'm ritika gupta.loomberg. ♪ ♪ >> we are looking, not i believe to lockdown, but to some pain and suffering in the future because we are seeing cases go up, which is the reason we keep saying over and over again, a solution to this is get vaccinated, and this would not be happening. jonathan: dr. anthony fauci there speaking to abc over the weekend. i'm jonathan ferro. this is the monday morning price action on the s&p. six months of gains. we advance half of 1%, yields unchanged on the 10 year. surprising to see the aussie on top. a stronger aussie in the mix, even on the back out of weaker than expected data out of china. the euro dollar advancing some one .5%. i want to work out how the dollar trade lines up with the bond market. tom: on friday and the jobs report, -- right now, what did you do this weekend? which beverage of choice did you have? what fancy restaurant did you go to? joshua sharfstein is expert in the doing of medicine, one of our leading experts on this pandemic. he was in south bal

vin gupta, good to see you again. thanks very. tomorrow night, we will answer some of your questions about vaccines, the delta variant, and all things covid in our dear doctor segment so if you have questions, e-mail us theweek@msnbc.com. be sure to include your name and where you live. that's theweek@msnbc.com. >>> coming up, the potential gop takeover of elections in the atlanta area, inched forward this week. we will discuss the latest fight for voting rights when we come back. fight for voting rights when we come back nothing rhymes with liberty mutual. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. visit your local mercedes-benz dealer today for exceptional lease and financing offers. ♪ ♪ (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matte

vin gupta, good to see you again. thanks very.orrow night, we will answer some of your questions about vaccines, the delta variant, and all things covid in our dear doctor segment so if you have questions, e-mail us theweek@msnbc.com. be sure to include your name and where you live. that's theweek@msnbc.com. >>> coming up, the potential gop takeover of elections in the atlanta area, inched forward this week. we will discuss the latest fight for voting rights when we come back. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ ♪ [truck horn blares] (vo) the subaru forester. dog tested. dog approved. washed your hands a lot today? probably like 40 times. hands

sanjay gupta with a special report on long covid. so who gets it and why?t it if you're vaccinated and i'm also joined by the mayor of tapika. 45-year-old runner and mother of three about a get a pacemaker after she got her gull bladder he moved because she has long haul covid. >>> audio leaked we're going to lose if our border is the first line of defense as migrants are apprehended at america's southern border. an aarp medicare supplement insurance plan from unitedhealthcare. medicare supplement plans help by paying some of what medicare doesn't... and let you see any doctor. any specialist. anywhere in the u.s. who accepts medicare patients. so if you have this... consider adding this. call unitedhealthcare today for your free decision guide. ♪ it's the biggest sale of the year, on the new sleep number 360 smart bed. it's the most comfortable, dually-adjustable, foot-warming, temperature-balancing, proven quality night sleep we've ever made. save 50% on the new sleep number 360 limited edition smart bed. plus, 0% interest for 36 months. ends monday. and

gupta, thank you. top medical expert from mississippi in a few minutes who says her state has failed. as the hospital there is become increasingly overwhelmed, icu beds are in extremely short supply. they have a couple. the state next door, alabama, has none. next door, alabama, has none ♪ ♪ i had the nightmare again maxine. the world was out of wonka bars... relax. you just need digital workflows. they help keep everyone supplied and happy, proactively. let's workflow it. then you can stop having those nightmares. no, i would miss them too much. whatever you business is facing... let's workflow it. servicenow. >>> welcome back. covid cases continue to surge down south, particularly in mississippi and driving the state's covid hospitalization rate to an all-time high. the viral rate is so high, the governor reeves issued an isolation order and it means that it is a felony for people who tested positivity for the virus to break isolation. in the past two week, the university of mississippi medical cente

i am ritika gupta. bloomberg. ♪ >> there are a very limited number of countries that have begun to administer third doses, which we would call booster doses. the evidence is evolving, it is moving. we do not have a full set of evidence around whether this is needed. jonathan: day by day -- tom: day by day, movable story. catherine o'brien at the world health organization addressing our fear. we spoke earlier with a chemist from john hopkins. now lisa abramowicz and tom keene with an important discussion on a concept i totally disagree with, which is herd immunity. sam fazeli with bloomberg intelligence wrote a tour de force yesterday on herd immunity. sam fazeli, is herd immunity a valid concept or is it a theoretical we will never get to? sam: thanks very much for having me back on. it is a calculation that can be made on paper using x number of variables that tell you what you think you will need to do to try to stop the transmission of a virus. while you are doing that, the virus is changing, people

well >> doctor vin gupta policy expert institute for health of metrics, doctor gupta, always a pleasureere whenever you can make. it thanks for making the time. >> thank you. >> all, right we have more ahead of tonight's episode. onight's episode or powders, try the cooling, soothing relief or preparation h. because your derriere deserves expert care. preparation h. get comfortable with it. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car i

i'm ritika gupta.he surge in covid cases is increasing pressure on u.s. drug regulators to fully approve the pfizer coronavirus vaccine. it was the first one to apply for full licensure in the country. approval could help the biden adminstration ramp back up its immunization drive and reassure holdouts that the shots are safe. a key senate republican has tested positive for coronavirus. that could delay the democratic plans to pass the infrastructure bill this week. similar lindsey graham and at least four others attending an event over the weekend. graham will quarantine for 10 days and miss votes on the legislation. if others test positive, that could mean they delay the vote timetable altogether. the tokyo olympics, american star simone biles made an emotional return to competition and ended up winning the bronze medal in the balance beam final. that came a week after she withdrew from several events to focus on her mental health. it is her seventh career olympic medal. she won it by doing a watered

i'm ritika gupta. prime minister boris johnson will press the biden administration to delay the deadline to leave afghanistan to allow for more evacuations. the u.s. and its partners have now flown out more than 30,000 people from kabul since august 14. u.s. labor secretary marty walsh had high hopes for september, but the delta variant's aggressive past has shaken his expectations for a rapidly recovering labor market. in an exclusive interview with bloomberg, walsh says he's concerned about the resurgence of the coronavirus dragging on the workforce and economic growth. in tennessee, at least wanted to people were killed and dozens are still missing after record rains and floods surging through rural areas. after 17 inches of rain fell during a 24 hour period, about 60 miles west of nashville, rescue crews are searching for survivors. bitcoin has gone over the $50,000 threshold for the first time since mid-may. the world's largest digital coin is now up 70% since a july low. crypto has seen market va

. ♪ ritika: with the "first word news" i am ritika gupta.he house has adopted that $3.5 trillion resolution. the agreement puts to rest a rift between progressive and conservative democrats. how speaker pelosi was able to broker a deal that would put forward a bipartisan info structure built by the end of next month. senate democrats putting forward a policy that would penalize companies removing profits aboard. the finance committee chair will outline a tech system for multinational corporations. democrats say companies have been able to move profits and jobs outside the u.s. president biden is sticking to his plan of removing all u.s. troops from afghanistan by august 31 but he has ordered his national security team to come up with contingency plans if he decides a delay is necessary. he says completing the u.s. mission by the deadline depends on the taliban continuing to cooperate and allowing access to the airport for those the u.s. is evacuating. a new study from the u.k. supports the concept of booster shots for honorable people. the u

i am ritika gupta. bloomberg. ♪ >> we look for a range of 1.25 to 1.50 for the summer, once the debt ceiling is hopefully resolved in the early fall in the fed announces a taper we think those factors can take us gradually higher. we think we can get to 1.70 and above later this year. tom: we just mentioned the bullish tone we are seeing from so many. doug, thanks for listening and watching. he says they are wrong, they are wrong, they are wrong. we digress. we each have our story of apple. i have too many to waste your time with. kailey leinz and i go to barry ritholtz for one story on apple on this anniversary of steve jobs walking away from the company grievously ill. barry, what is your best apple story? barry: i was a big mac fan for a long time and i got a look at this newfangled ipod and i think this is the new sony walkman. i want to say apple was $15, with $13 in cash. my whole firm bought a ton of it. i held onto it and made fun of the guys who sold it when it was up five dollars. i sold it it

gupta, it's nice of you to join us. for being here. >> great to see you. >> we've talked over the months about monoclonal antibodies and their promise essentially as a way to keep people who have been diagnosed with covid but aren't very sick yet, a way to keep them from getting very sick. a way to keep people from getting hospitalized and dying. does it seem to you like we are entering in a new phase as a country where these treatments are going to be used at scale finally to try to change the course of disease? >> rachel, i hope. part -- relative to the last time we had this conversation a few months ago, the indications have changed and broadened. if you have a loved one that's immunocompromised, if you're immunocompromised, if you know somebody that's not vaccinate at all and they're exposed to the virus, you can now get treatment with monoclonal antibodies. go zomm go to combatcovid.hhs.gov. it's post-exposure prophylaxis. if you're not fully vaccinated or immunocompromised, you could potentially be eligible. go to

i'm ritika gupta.al-mart posted second quarter results that beat expectations. the world's largest retailer also raised its sales forecast for the year. results show that demand isn't disappearing following last year's sales boom. demand for shopping was expect it to slow as customers returned to stores. another sign that the do-it-yourself boom has slowed from elevated levels earlier in the pandemic. home depot reported second-quarter results that were weaker than expected. sales missed estimates. home depot declined to release a forecast for fiscal 2021. taliban are urging women to join the new government. when the taliban were previously in power, women were largely confined to their homes. in haiti, authorities now say the earthquakes killed more than 1400 and injured almost 7000. several thousand homes were destroyed. now haitians are pricing for tropical storm grace, which could lead to flash flooding and mudslides. in new zealand, prime minister jacinda ardern says the country will go into a lev

i am ritika gupta.s is bloomberg. >> we engaged with the taliban to enable our rescue operations. going forward, any engagement with the taliban in cabell will be driven by one theme only, our vital national interest. the taliban six international legitimacy and support. our message is, any legitimacy and support will have to be earned. tom: the secretary of state on the exiting of afghanistan. jon ferro is off today. x c lisa abramowicz and tom keene, we welcome you all across the nation and worldwide. we have to pause here. those of us clearly remember 1975. those close memories, i was truly taken by how -- i was to see that memo on twitter from the military yesterday afternoon. lisa: the idea that this was the end of the 20-year foray into afghanistan by the u.s. certainly not the end for service members, dealing with the ramifications. there is the question now of what is to come. does the u.s. to negotiate with the taliban, negotiate with close neighbors like pakistan? how do we move forward in ord

i'm ritika gupta..s. senate is on a path could lead to about this week on that $550 billion infrastructure package. negotiators finished the text of the bill yesterday, a crucial step towards eventual passage. republican senator mitt romney says neither side got everything they wanted. after the senate votes, final congressional action wouldn't take place until after a recess. the u.s. has formally blamed iran for a deadly attack on an israeli linked tanker. secretary of state antony blinken says there will be an appropriate response. experts say they believe the ship was struck by a drone, killing two crewmembers. iran has denied response ability. it is the biggest acquisition ever for square. the digital payment platform has agreed to pay $29 billion for australian by now -- australian buy now, pay later company after pay. the american gymnastics star simone biles withdrew from an event because of mental health issues, but she will compete in the beam tomorrow. she won the bronze on the beam five yea

i am ritika gupta. this is bloomberg. ♪ >> if anything, it is worse. now it is had a chance to regroup. it now has access to american arms and it has proven its resilience. the opposition in afghanistan it is weaker than it was. it is as bad. no sign of any mellowing by the taliban. jonathan: the taliban in 2021. that was richard haass on the council for relations. from your city, alongside tom keene and lisa abramowicz, i'm jonathan ferro. we are down 17 points on the s&p. negative .4%. yields lower about .5%. jumping -- by around half a basis point. data out of china. downside surprise. crude is lower, $66.50. down about two dollars on the session. tom: what we tried to do, john, lisa, and i are committed to bringing you the expert. on china the expert is jonathan spence and his classic the search for modern china. what is the search for modern china for afghanistan? it is thomas barfield holding court in anthropology at boston university and plight -- and president of the american institute for afgha

i am ritika gupta. bloomberg. ♪ >> like so many of the passenger airlines are ridership contracted significantly in march and april of 2020. now we are at 65 to 70% recovery , with stronger bookings into the fall season and beyond. good ridership recovery which underscores the essential nature of the services we provide. tom: william flynn of amtrak, the chief executive officer on where they stand on infrastructure as well. what he knows is he needs people from tribeca to go up to penn station and climb on board amtrak, particularly the new and wonderful morning hand development. they have to live somewhere. we saw that yesterday with steve ross coming out with a huge announcement of optimism on new york city. with blackstone it is a quarter of a billion dollars to redo. truffles tribeca. what kind of name is that for a building? honest to god. truffles tribeca is what they call it. he used to play truffles in australia. scott crowe joins us with center square investments. blackstone, a quarter of $1 bi

i'm ritika gupta.resident joe biden's big plans for the economy are about to pass their first meijer legislative test. the group of democratic and republican senators are prepared to approve the infrastructure program. the vote is set to begin like this morning. democrats will be able to bypass republicans on the next part, a three point $5 trillion positive resolution that would expand health coverage, childcare, and education benefits. u.s. coronavirus waves that started in low vaccination states in the ozarks and deep south has engulfed the country. cases and hospitalizations are at their highest since february. 30 eight states have transmission levels considered high by the cdc. the other 12 states and washington, d.c. have trans mission rates in the second-worst category. the european union has decided not to reinstate restrictions on non-essential travel from the u.s. despite new covid cases in the country exceeding the bloc's threshold. the guidance from the eu's nonbinding. the government of ea

i'm ritika gupta.sident biden is laying out an ambitious goal today. he wants half of all vehicles sold in the u.s. to be emission free by the end of the decade. automakers say that can only be achieved with government investment in charging stations and other infrastructure. china has imposed new travel and movement restrictions in an effort to stop the spread of the delta variant. there have been more than 500 symptomatic cases so far. public transport and taxi services were curtailed in 144 of the worst hit areas nationwide. beijing train services and subway service was limited. more than 150 wildfires are raging in greece today. authorities ordered more evacuations from an island near athens. firefighters are being hampered by temperatures over 100 degrees and strong winds. fires have threatened the outskirts earlier this week and are now under control. glencore says it could dramatically increase returns to shareholders going forward. the company is cashing in on the high prices for the commoditie

i am ritika gupta. this is bloomberg. ♪ i am ritika gupta. bloomberg. ♪ >> it's gonna come into schools, spreading unless there are a lot of protections. in many cases, there are not. we see huge numbers of kids quarantined and schools shutting down as teachers get sick. we have to avoid that if we are going to have a successful school year. tom: that is john hopkins on schools yesterday. it is august 31 and the schools are front and center. lisa abramowicz and tom, great guests coming up. i want to point out that john bolton will join us here on afghanistan and particularly his focus on pakistan. i believe we will do that in an hour and a half. a mr. doll joe with us -- dr. am esh adaljia. america is bundled in with kosovo, lebanon, and montenegro. it is about the idea of travel. when you look at the regional disparity of how we are dealing with this epidemic, are you surprised europe tells us we cannot travel there? >> are not surprised. we know political leaders often run for travel bans and restrictions as their first way to reassure dome

i am ritika gupta.dent biden and israel's prime minister will meet at the white house the day after the original meeting was delayed all living the bombings in afghanistan. -- following the bombings in afghanistan. the u.s. favors a diplomatic agreement to stop iran's nuclear program. israel said it may use secret tacts. an israeli study showed people who recovered from a bout of covid early in the pandemic have a lower risk of contracting the delta variant and those who received the pfizer beyond tech vaccine. the results are good news for patients who are already successfully -- have already successfully battled covid. try not released most copperheads of warning yet against big corporations. a spelled out how the 996 practice is illegal. that is working employees from 9:00 a.m. to 9:00 p.m. six days a week. there has been a backlash against the growing to man's of the private sector. dell is showing the personal computer market is showing -- computer market is suffering. dell was more bullish about t

i'm ritika gupta. this is bloomberg. ♪ i'm ritika gupta.omberg. ♪ >> it has never been this unrewarding. two, three, four years ago people were asking me, are we in a high-yield bond bubble? no, we were in a bond bubble. today we are in and everything bubble. jonathan: we are in an everything bubble. the words of legendary investor howard marks of oaktree capital, the cofounder and cochairman. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. futures plus two on the s&p. we advance 0.06%. we are 42 minutes away from the payrolls report in america, and yields are higher by three basis points to 1.2550%. the estimates are between -- the median estimates are between 850,000 and 875,000. tom: part of our agreement is we have to do a real yield brief every friday to get ferro ready for his afternoon soiree. we do that now with the former president of the federal reserve system, with goldman sachs for years, bill dudley. you are focused entirely on the land of jon ferro, which is "the real yield. how do we get out of the

i'm ritika gupta. this is bloomberg. ♪ ta.berg. ♪ ♪ >> what we have seen in the last 48 hours of trading, going back to friday, is confirmation of a less rosy cyclical outlook, which is playing more into the longer run structural theme that justifies low rates and lower yields. jonathan: steve major, hsbc managing director and global head of fixed income research. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market down 21. we declined by about 0.5% on the s&p 500. yields lower at 1.2250%. lower by a basis point on friday. tom: let's take 30 seconds here before david wilson to stop -- to talk steve major here. the delta back five or six years is without question to a lower yield. that is a structural call of mr. major. but what is important to me is the only time we have been lower than this yield is through 2020, through the pandemic. where we are right now is hugely unusual. jonathan: the bullish call is that a tolerance for higher interest rates has

i'm ritika gupta. this is bloomberg. ♪ pres.: america, this is how we truly build back better. this bill is going to put people to work, modernizing our roads and our highways and our bridges. jonathan: the president of the united states. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your price action in the equity market on this inflation day in america. your equity market is lower, negative three on the s&p, down by about 0.1%. yields higher around 1.37%, well off the lows of a week ago with a 1.12% handle. turnaround for crude through the last week. it was down almost 8% on the week, the biggest weekly loss on the year. this morning, down by 1%, back down to $57.61 -- $67.51. national security advisor saying opec+ must do more to support the recovery, and this from brian deese, asking the ftc to monitor gasoline prices for illegal conduct. this coming out of just the past 20 minutes. tom: this goes back to when you were driving that jupiter you had in englan

i'm ritika gupta. international energy agency cut forecasts for global energy demand sharply and is predicting a new surplus next year, quite a reversal. a month ago, the iea warned of a damaging spike in prices and in its monthly report, the agency said its output boost from opec-plus is climbing with slower demand growth and higher production from outside of the alliance. u.s. drug regulators are set to approve his third does of coronavirus vaccine for people with weak immune systems. a new study showed the benefits of an extra shout in transplant patients. it significantly raised antibody levels. in the u.k., fully vaccinated adults will no longer be required to self-isolate if they come into contact with a coronavirus case. the new policy begins monday. the relaxing of the so-called pingdemic, when alerts caused havoc for british food producers, retailers, and p ubs. china regulation -- that provided a sweeping framework from the border rack key industries. that has left investors reeling. global n

vin gupta, let's start with you, on the discussion of booster shots. on the one hand, we have a massive spread of coronavirus, numbers we have not seen for months, and we are talking now about boosters for those who have been vaccinated. >> good evening, ali. pharmaceutical companies need to be stop leading on messaging on this topic. moderna's doing it, pfizer. it's a habit they can't quit. they need to stop doing this. the message that i hear from young people, doc, now i need three doses to be protected? it's confusing people and they need to stop. what is clear, and what i suspect the fda is going to release, i'm glad they are doing it -- that if you are immunocompromised, if you have cancer, chemotherapy, it's a long list, 4% of america has that condition, you will be eligible for a third shot before the end of the year. over 65 will likely be in that group as well. for the rest of us, there is no indication you need a booster shot. let me repeat that, for the rest of us, those that are healthy, there was less than 65, if you need a -- you do not

i am ritika gupta.tyline vote was 50-49, and it marked a debate among democrats and moderates and progressives over the details. the first woman to be new york governor will have to clean up after her predecessor. today governor kathy hochul will be sworn in and about two weeks. she will face a pandemic on the budgetary crisis, and an economic recovery. governor andrew cuomo says he is stepping down because sexual harassment allegations against him or prevent him from governing. millions dollars in crypto currency. the network lets users swap tokens across multiple blockchain's. tens of thousands of people are affected by the hack. and his south korea, the number of new coronavirus cases went over 2000 in one day for the first time. it was at more than 42% from monday. a spike in the delta variant and the low vaccination rate are blamed. global news, 24 hours a day, on air and at bloomberg @quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this

i'm ritika gupta.s is bloomberg. ♪ ♪ >> the momentum of a $20 trillion plus economy in the u.s., the resilience that has been the result of the fed rescue program, and probably an overabundance of fiscal stimulus, tells us that we got further upside here. jonathan: that is one of the most bullish on the street right now, looking for 4700 on the s&p 500. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your equity market right now. futures down 0.1% on the s&p. in the bond market, down a basis point to 1.1621% on a nominal 10 year yield. on a real yield, -1.21%. tom: we all have different data screens on the bloomberg terminal. yours looks different than lisa's looks different than mine. but the fixed income section on my screen, i am sort of saying, really? jonathan: it is europe, it is asia, it is japan. and lisa, the short squeeze in the bond market, and a victim of that short squeeze, too. lisa: this hedge fund came out with a 10% loss in its macro fund, and the idea being this ha

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i'm ritika gupta.he taliban are urging women to join the new government. a member of the taliban commission said the group does not want women to be victims. when the taliban were in power previously, women were largely confined to their home. the u.s. is embracing a high-stakes relationship with the taliban. a growing rivalry with the u.s. has china's president, xi jinping, seizing any opportunity to push back against u.s. dominance. in haiti, earthquakes hit more than 400 people and injured almost 7000. now haitians are bracing for tropical storm grace, which could lead to flash flooding and mudslides. in new zealand, the prime minister said the country will go into a level four lockdown, the most restricted kind, after authorities detected their first case of coronavirus in 170 days. new zealand has only been in this lockdown once before. warren buffett berkshire hathaway has trimmed its -- while roosting its stake in kroger. global news, 24 hours a day, on air and on "bloomberg quicktake," powered

kriti gupta, thank you for the roundup.eantime, google employees could see their pay cut by 25% if they choose to work from home. the search engine giant is offering an internal salary calculator that you might earn less because pay packages are determined by location and local market dynamics. a google employee in stamford, connecticut working in new york city would be paid 15% less if they choose to work from home. a colleague living in manhattan itself would see no pay cut. all right. coming up. crypto platform that is now valued in the billions of dollars. i will speak with the cofounder and ceo next on the future of regulation surrounding and competition in the space. that is next. this is bloomberg. ♪ emily: the crypto platform falconx has more than quintupled its evaluation in the last five months, according to the ceo raghu yarlagadda, who says the company is valued at $3.75 billion, with transactions of $10 billion. joining me now is the cofounder and ceo raghu yarlagadda. thank you for joining us. talk about what

gupta, dr., thanks so much to both of you. >> thanks, jim. >> thanks, jim. >>> ahead is the race against time for the biden administration to evacuate tens of thousands of americans and afghan stanza head of the u.s. military august 31st self-set deadline. how daunting is this? what will it take? we have some new insight ahead. we are also moments away from the opening bell on wall street. futures are down. the major renewed fears about the pace of economic recovery at this point in the pandemic, investors will now keep a close eye on details from the federal reserve's latest policy meeting. we'll see how markets open. stay with us. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0

i'm ritika gupta. this is bloomberg. ♪ matt: it is 1:00 p.m. in new york 7:00 p.m.n berlin, and , 1:00 a.m. in hong kong. i'm matt miller. welcome to bloomberg markets. here are the top stories we are following on the bloomberg and from around the world. $550 billion bill. we will discuss its impact with the head of municipal and public finance strategy at citi. goldman jumps its junior pay. and we will preview mazda's july sales data, discuss the impact of the shortage of chips. let's get a check of what is going on in the markets. the s&p still getting but only .1%. ism manufacturing numbers were a little bit soft and as you saw, a bit of a selloff in stocks. the same is true for the 10-year yield. before we got those numbers, we were up above 1.20. now we have seen the yield come down about six basis points, 1.16. the dollar index is still done but only by 1/10 of 1%. we see some big drops in commodities after the economic data we saw come out today. senate lawmakers say they would like to vote on the bipartisan infrastructure package on thursday, but it could ea

vin gupta, pulmonologist, global health policy expert, dr., it is always a pleasure to have you here whenever we can get you. thank you for making time tonight. >> thank you. >> we've got more ahead here tonight. stay with us. d here tonight. stay with us h: every c mer has th. this couple was on a camping trip... ...when their windshield got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service you can trust. >> singers: ♪ safelite repair, safelite replace. ♪ ♪♪ ok, got everything ready. got the rental. got it dropped off. going to the championship with... your tiny champion. going... going... got it. (vo) when you are shopping for a new vehicle, how do you know which brand you can trust? with subaru, you get kelley blue book's most trusted brand winner, seven years in a row. in fact, subaru has won most trusted brand for more consecutive years than any other brand. no wonder kelley blue book also picked subaru as their best overall brand. once again.

we want to bring in chief medical correspondent sanjay gupta.and there's some new modeling out which projects what kind of a difference it can make. what does it say? >> yeah, so this is based on looking at lots of different studies, observational studies, large studies like the one out of north carolina and a million students. let me show you, first of all, if you do nothing at all, just look at how contagious this virus is. they say at least 75%, 75 to 90% of children, if you didn't have any mitigation measures in place will be exposed to this virus. if you do universal masking and it's universal meaning that you have a much larger impact if everyone is doing it as opposed to sporadically doing it, 24 to 50%. it's not perfect. you layer in testing as well, though, 13 to 22% exposure as compared to 75 to 90%. and other things like ventilation, and you can really start to bring down transmission within schools significantly. you know, one thing i just want to say as a parent myself, we talk about this all the time this has often been presented a

sanjay gupta even better in person. >> yeah, we have to do it more often. >> yeah, bring it on.much, sanjay. >> a once-in-a-lifetime musical event celebrating the cities comeback from covid-19, we love new york city, the homecoming concert is saturday, august 21st, only on cnn. >>> and still ahead, dominion voting systems is suing two cable networks over the big lie. we're going to talk with the lawyer who is leading their defamation case next. ♪ as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. i'm morgan, and there's more to me than hiv. more love, more adventure, more community. but with my hiv treatment, there's not more medicines in my pill. i talked to my doctor and switched to fewer medicines with dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. with just 2 medicines in 1 pill, dovato is as effective as a 3-drug regimen... to help you reach and stay undetectable. research shows people who take hiv treatment as prescribed and get

back with me, cnn's sanjay gupta as well as dr. peter hotez, professor from baylor medical college and dr. mardi from florida international university. sanjay, your reaction and take on what we just heard. >> well, they're making the case there's some evidence that there's waning effectiveness of these vaccines against mild and moderate symptoms. so not severe symptoms, not severe enough to get you in the lopt. there's still a lot of protection against that and preventing people from dying. what they seem to be saying, and it's an interesting sort of discussion here, they're saying we're trying to get ahead of this. because we're seeing evidence -- this is u.s. data from nursing homes, hospital systems, large number of people in the general population, they're saying since we're seeing this decreased effectiveness against mild or moderate disease, we're worried that will start to lead to decreased effectiveness against hospitalizations and death. haven't seen that yet, but that's a concern. it's an interesting point, kate. it will

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i'm ritika gupta. the surge in covid crisis is increasing pressure on u.s. drug radio lighters -- drug regulators to fully approve the pfizer vaccine. it was the first to apply for full licensure in the country. a full approval could help the biden administration ramp act up its immunization drive and a holdouts that the shot is safe. alibaba posted quarterly avenue that missed estimates -- quarterly revenue that missed estimates. the commerce giant said it was increasing its share buyback program by about 50%. that is just $15 billion. pia partners will pay $3 billion for naked juice and other juice brands. juice sales have been under pressure because consumers are cutting back on sugar consumption. at the tokyo olympics, american gymnastics star simone biles made an emotional return to competition and won the bronze in the balance beam final. she withdrew from several events last week to focus on her mental health. this is her seventh the olympic medal. global news 24 hours a day, on air and on bloom

i am ritika gupta..s. -- authorized an actor coronavirus dose to people with weakened immune systems. they include organ transplant percipient in patients with cancer. in afghanistan, the taliban is putting pressure on the embattled national government weeks before the u.s. and its mission there. taliban forces captured two major cities. they are estimating to hold over two thirds of afghanistan. the u.s. plans to send and 3000 troops to help evacuate some personnel from the american embassy in kabul. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am really good group to. -- i am ritika gupta. this is bloomberg. ♪ >> the increased tempo of the taliban nil at their engagement and the increase in violence and instability across afghanistan is of great concern. we are further reducing our civilian footprint in kabul in light of the situation. as we have long said, we are committed to supporting afghanistan and

i'm ritika gupta. this is bloomberg. ♪ is is bloomberg. ♪ >> we believe that we are down to a population of 300 or fewer american citizens who have yet to get out. we have evacuated more than 5000. we evacuated more than 300 just yesterday. we believe there is still an opportunity for american citizens to get to the airport, get on planes, and get home. tom: jake sullivan, u.s. national security adviser, on cnn this weekend, managing the message for the weekend. annmarie hordern in washington makes clear it will be an eventful morning for the white house, and it is a street as to what august 31 actually means on this 30th of august. taylor riggs and for jon ferro, lisa abramowicz, and tom keene. joining us now, peter trubowitz, with all his good work over the years at the university of texas at austin. we talk to afghan experts, i want to talk to you about united states experts. i go back to your landmark, politics and strategy. do we have a strategy and foreign policy that gets us out to 2023, a year

i'm ritika gupta.esearchers say vaccines targeting the highly transmissible delta variant main dow be needed. a study looked at recent numbers in england. they found the antibodies raised by current shots are less effective. in china, the widest outbreak since the start of the pandemic is hampering tourism and spending during what is the peak summer holiday. that has analysts reviewing their economic growth projections. it has spread to almost all of china's 32 provinces. the british navy says a potential hijacking of a ship off iran has ended. unidentified people were said to have boarded the ship yesterday. those boaters were said to leave today. the incident took place days after a possible current strike hit an israeli operated ship in the region. two sailors were killed, and the u.k. says iran was probably behind the attacks. congressional democrats are reportedly seeking $550 billion in climate damages from big polluters. according to "than your times, it would tax companies like exxon, chevron m