mccoy, and i have beamed down to meet with chief engineer vanderberg, administrative head of janus 6. all right, let's assume there is a monster. what has it done? when did it start? sensors gave us an unusually rich pergium reading. not only pergium, whatever you want. uranium, serium, platinum. the whole planet's like that. it's a treasure house. yes, we're aware of that. if mining conditions weren't so difficult, janus 6 could supply the mineral needs of a thousand planets. but what happened? first, the automatic machinery, piece by piece, started to almost disintegrate. d our chemists were unable to analyze the corrosive agent. i'm sure there is an answer. it simply has not yet been discovered. yes, it has. i don't know what this butchering monster is, but i know what it's doing. our maintenance engineer sent down to the drifts to repair the corroded machinery. we found them... seared to a crisp. volcanic activity? on this planet, captain. he's right. none. at first, the deaths were down deep, but they've been moving up toward our levels. the last man died two days ago 3 levels be

janus capital big market guru with us next. he says donald trump will be horrible for the job market, for the economy and more. "countdown" coming right back. we'll ask him. ♪ liz: just about everybody celebrates the stock market rally. this is one week of the dow jones industrials. one of the biggest names in bonds is calling trump victory a total disaster particularly for people that gave him the white house, low-wage voters. bill janus, says the trumpian fox entered the populist henhouse. his tenure will be four short years but likely a damaging one for jobless voters. trillion dollars has been slashed from global bond prices. bill grass, fund manager of the janus unconstrained global bond fund, joining us now. bill, we love contrarian views. rum trump promised he would be great for the jobs market. that he would be great for the economy, he would fix it. you're saying absolutely not. why? >> promises, promises. liz, as you know i'm a registered republican, and not a bernie sanders democrat. let's get out there right away. i

that is bill gross of janus capital. vonnie: thank you for that interview, wide-ranging. you will hear that interview throughout the day. let's take a look at u.s. markets now. the dow down by .1 of 1%. it has crawled all the way back from a big drop last night in the wee hours, when the votes are coming in. s&p 500 index down, 2131. 1%.aq index down .6 of the vix has gone down to under 17. it had crossed the 20 mark last night and the 10 year yield is that 1.96%. bill gross said there was a lid on the 10 year or would become too attractive to outside investors. and 111 basisad points right now. a look at the dollar index. slightly positive, but .41% above 98. the yen at 104.4 d. it was a low 102 last night. let's take a look at the euro. 109.65. continue to keep an i on market movements. as you see, things calming in the early hours in the u.s. session. a reminder, we are waiting for hillary clinton to speak about in five minutes to her supporters that the clinton hotel, which was headquarters to the clinton campaign during the election and voting process. paul ryan spea

as the former janus landing operator, bodziak served more than a year in prison for grand theft and failing to pay sales tax. i checked with the doc - he's on probation for 20 years, has to pay back 125-thousand dollars to the department of revenue, and live without violating the law. the investors say they'll work to recoup their money. kendra conlon, 10news wtsp. hillary clinton and donald trump are push to get out the vote, with just five days until the election. the latest quinnipiac university poll finds two key battleground states - florida and north carolina - are too close to call. cbs's craig boswell is at the white house with more. donald trump and hillary clinton are painting dire pictures - of what it would be like if the other won the election. "imagine with me what it would be like to have donald trump sitting the oval office come januar20 "if hillary clinton were to be elected, it would create an unprecedented and protracted constitutional crisis..." trump was back in must-win florida on wednesday - pitching himself to minority voters. "the african american community and the

lindsay janus is in the heart of the fire zone in gatlinburg. >> go, go. >> the governor is the largest forest fire in tennessee in 100 years, responsible for at least three deaths. >> completely gone. >> more than 14,000 forced to flee the resort towns of gatlinburg and pigeon forge. dollywood theme park narrowly escaping after desperate attempts by firefighters to snuff out the flames. several cabins were destroyed, lapse shows how quickly the flames spread, sweeping across a nearby mountainside. these aerial shots show homes flattened, buildings reduced to rubble, cars burned out. the only thing standing here, a charred washer and dryer. the mayor says the next 24 hours will be critical in putting out fires like this one. this man searching frantically for his mother. >> she called me at 8:30 and said the house told her to get out immediately and we got disconnected. i have not been able to get back in touch with her since. she is not anywhere to be found right now. jummy: knew this noon, a man arrested in connection with the shooting death of a 16-year-old girl in southeast washingt

a tremendous effort by janus. at the same time, it was a dangerous play to take it 22 yards back into our end zone. it could have ended in a huge negative. we are always trying to get to take away his creativity and that was an example. >> after the game, the national anthem scene with mike evans, having him take a seat and the stance he took, reaction, is next. that kind of signifies the countries workplace lee anne walker lambs. had you keep the team moving forward? >> they want to support their guy even if they don't agree with him. back at the first of the season when colin kaepernick didn't stand for the flag and now, i stand firmly behind our organization's statement that we support the military. i think it's important that we honor the flag and honor the people that paved the way but we also, you know, we also have to respect a person's freedom of speech and freedom of expression. we know, i'm not sure. down with mike yet to see everything that is behind it that that's one of those things that i don't think

so says bill gross, janus' big bond guy. you'll hear from vicente fox. a tale of two retailers.of household names making two different moves. "power lunch" begins right now.

. >> janus the, will you marry me. >> he then appeared in the aisle with a bouquet of flowers right afternd to marry him in both spanish and english. she said yes. >> that's a proposal. >>> a septa strike means hundreds of thousands of people are without a ride this morning. union workers hit the picket lines when their contract expired overnight. we'll have the latest on negotiations next. >> lawyers will meet in a montgomery county courtroom today to he prepare for bill cosby's upcoming sexual assault trial. "action news" will be right back. i alone can fix it! bomb the [bleep] out of 'em. i'd like to punch him in the face. i like people that weren't captured, okay? he's a mexican! she ate like a pig... i moved on her like a [bleep] i did not say that... i love war. yes, including with nukes. blood coming out of her... they're rapists... wrong. there has to be some form of punishment. such a nasty woman. i wanna be unpredictable. ...on 5th avenue and shoot somebody... she's a slob... i don't remember! and you can tell them to go [bleep] themselves! priorities usa action is responsible f

a banking analyst with janus capital joins us. give us your take away of the stress tests.he performance themselves was probably broader than expected. was the best of the performers and it was to be expected. charterednd standard performing either side of the pass mark. it's important to air in mind they did i get the africa favorable treatment which is to be expected. that is a tough execution and there's discretion from the regulator on the consolidation. is to be expected. royal bank was probably the surprise, not necessarily that it was the weakest, but the scale of the drawdown. 10% drawdown in pre-management action and therefore failing the test. now we are entering another phase of capital plan revision and business plan revision. i think it is the latter part that's the challenge for royal bank and royal bank investors. what does this mean for profitability? barrington: you hit the nail on the head -- that is the key issue. the degree of drawdown potentially gets mitigated over time when we get the litigation settlement. the problem here is this has been a 10 year

and later, bill gross of janus capital gives us his reaction to the october jobs report.omberg. ♪ jonathan: this is "bloomberg daybreak." let's check the markets. the scene is set like this, 13 minutes away from the payrolls report. futures rolling over, down by 19 points on the dow, off by a single digit on the s&p 500. no drama there. the drama of the last eight days is weakness, softness in equity markets. an eight-day losing streak on the s&p 500. drama in the commodity markets. crude oling over, 44 handle -- crude rolling over, 44 handle, and potentially the biggest drop since 10 months ago after crept simple and a lot of discussion about the possibility, or the lack thereof, that owe poke will finally agree on an agreement and implement any of the stuff they talked about. alix: i feel like we're doubting down to that. four days to go. you got polls tightening, volatility picking up, and the s&p is down yet another day, it would be the longest losing streak since 1980 as the markets begin to weigh a trump victory. we spoke with peter navarro, a donald trump economic

. >> meteorologist here with what we can expect so janus, week up to rooftops covered in snow after 60egree weather the day before. >> well, welcome to my world. >> what in the heck is going on? >> well, it's almost the end of november, getting into december, and christmas is just around the corner. so we have to make it feel like that, right? i mean we have been very lucky. we've been really lucky. 20 to 30 degrees above average. well look at the map right now. tampa, 46 for you. temperature drop of about 20 degrees across florida. 23 in minneapolis, 24 in chicago, and with those winds howling, we have a windchill factor, as well. looking at the past 24 thursday there's a storm system that brought some snow across the northeast kind of lingering over the eastern great lakes up towards new england. so, we're going to watch that. as far as forecast snowfall goes, the eastern great lakes, that's where we're going to see the heaviest snow fall up towards new england. but otherwise, a clear, blustery day for the northeast. we are watching travel troubles this week, tuesday and wednesday, o

janus capital's bill gross joins tom keene at 8:30 a.m. in new york.nese internet giant baidu just joined an form a new alliance with a major telecommunications company. more on that next. this is bloomberg. ♪ brad: chinese wireless carrier unicom and baidu are teaming up. with of the blessing of the chinese government, the two will partner with artificial intelligence and other plans for ownership reform of state owned enterprises. joining us now, a bloomberg reporter from tokyo, and gordon chang, author, reporter. he lived and worked in china for almost two decades. gordon, i'll get to you in a minute. peter, you have covered these two companies for a long time. what does this alliance mean to you? peter: it is an important step for both companies at this point. the chinese government has been looking for ways to improve the efficiency of the state-owned enterprises throughout the economy. the oil companies, railroad companies, and the telecom companies. the telecom sector is really dominated by these three companies. with china unicom in particular,

that was a portion of my conversation with the janus capital's bill gross. janet yellen's testimony before congress. it begins at 10:00 a.m. eastern time. julie: coming up, donald trump, the unlikely savior of newspapers? how the president-elect is affecting journalism. a speculation continues on the truck cabinet, nbc news reporting that the trump team is considering nikki haley for secretary of state, the first woman governor of south carolina, and the youngest current governor in the united states of america. i'm not familiar with her international credentials, so this could be an interesting pick. this is bloomberg. ♪ scarlet: this is "bloomberg markets." i'm scarlet fu. julie: i'm julie hyman. american home builders are still optimistic, their confidence level in november remains close to the highest level of this year. confidence could be tempered by higher mortgage rates and shortage of available lots of skilled labor. inflation at the wholesale level was surprisingly unchanged last month. declines in the cost of services offset increases in the price

william gross of janus capital. look for that in the 10:00 hour. are with us. "bloomberg surveillance." ♪ francine: "bloomberg surveillance," looking at election 2016. rates rise following donald trump has victory. they are now at 51% if you look at the w.a.rirp function on the bloomberg terminal. still with us in new york, bob hormats. eric, always a great pleasure to hear your thoughts. before we get on to the fed, a broader question -- what does the donald trump presidency mean for the global growth, and the next six months? >> it is tough to say. the market has reacted less severely than i thought it would. people are nervous about what is going to happen. longer-term, anything you heard is not good news because it is anti-trade. francine: how do you explain the fact that the market tour model -- the market turmoil has now softened? is it because they are looking at donald trump, which sounded more inclusive in his speech, or are they awaiting details of his policies? number one, they are saying he was more inclusive. that it was a more friendl

our usual conversation with william gross at janus capital. on will look at that television and hear that worldwide on bloomberg radio . from london, from new york, this is bloomberg. ♪ ♪ francine: this is "bloomberg surveillance." i am francine lacqua in london. tom keene in new york. let's get to the bloomberg business flash. airwaysarent of british has cut their long-term earnings outlook. they cut capacity and spending plans. the drop of the pound has hurt their revenue. airliner.own irish gopro plunged in premarket trading. they expect a lousy holiday season and lowered their forecast for holiday sales. they missed work order estimates -- third quarter estimates. that is your business flash. tom: thank you so much. back-and-forth in the last few days, senior executive editor for government in washington. he joins us now. an extra man close to -- mary close to an election -- an extraordinary close to an election. they were talking about an exhausted election. >> they are on adrenaline. busyhave an unbelievably schedule over the next four d

so says bill gross, janus' big bond guy. you'll hear from vicente fox. a tale of two retailers. a pair of household names making two different moves. "power lunch" begins right now. >> tyler, you make my dreams come true. i'm michelle caruso-cabrera. three hours left in the trading session. dow on pace to break a seven-day winning streak. s&p 500 lower, but still within striking distance of an all time high. you can see the dow lower by 73. nasdaq in positive territory for a change. role reversal. higher by 17 points. oil making a huge about face on news of an inventory build. crude is higher by a quarter of a percent. it has been all over the map today. >> michelle, i'm brian sullivan. here is what else is happening at this hour. senate republicans re-electing mitch mcconnell as senate majority leader. senate democrats picking chuck schumer to be minority leader. that should be interesting. both donald trump and schumer are from new york city and know each other well. mortgage applications tumbling last week as rates moved higher. dropoff in refis accounting for a big chunk of

i think the very interesting discussion of two issues, i guess like the god janus were looking backwards and looking forward. sober looking for sweet looking backwards at a financial crisis and passing the question of whether u.s. housing policy before the crisis played an important role in essentially sowing the seeds for the crisis. and then secondly, we agreed asking the question of what should be viewed as housing policy going forward. i'm not going to anticipate the commentators remarks but obviously all of you are aware that fannie mae and freddie mac are in a quasi-limbo state at the moment. they are essentially controlled by the federal government through conservatorships and there is periodic continued debate about what the future of those organizations should be, or what any alternative organization might be in terms of federal dissipation in the mortgage market. i would like to introduce our three speakers as being morrison mention. we are indeed really privileged to have all three of these speakers are today. they are nationally recognized experts on the mortgage market and o

joining us is bill gross of janus capital.federal reserve nondecision decision and subsequent statements. >> well, today is the fed's day, but it is really not about the fed. i think markets know bund investors know that we're looking at normalization slow pace, 25 basis points perhaps per year. why does that affect the stock market and why does it affect high yield bonds like it is doing at the moment. earnings recession and had been for five quarters. and the fact is, sounding like a politician here, but the fact is that 1% to 2% real gdp growth and near zero perfect interest rates which lowers margins for financial companies, basically doesn't produce much. those are the considerations to look at going forward. can the economy grow faster than 2%? perhaps the election says something about that. but basically the fed already admitted that productivity is zero, 1%, and labor force is growing at half a percent. and we're stuck in this zero to 2% rut and not good for financial assets which are overpriced for four to five to six

later today, william gross of janus capital. in new york, the 2:00 p.m. hour.ide, this is bloomberg. ♪ "bloomberg surveillance" from london. i would focus on that top dxy.r, 100.46 on managingticed beijing renminbi to a new weaker level. jim: "-- francine: "managing" is the key operative word there. this is something we have seen. the fed rate rise with capital outflows. we are back with jim o'neill, the former u.k. treasury minister, and for many years, at goldman sachs asset management. debt,is managing huge which huge stimulus, which mean growth is staying at 2.5%. are you concerned about a financial crisis? jim: i think one always has to be mindful of that risk. i have to say i worry that i do not worry about it enough, but i would say two things that i see rarely discussed. first of all, all of this debt is owned domestically, so it is under their national control. secondly, they have a massive savings rate. what china really needs to do going forward, which is slowly or maybe even fastly, grow the role of the consumer. the chinese consumer does not have a

joining us is portfolio manager at janus capital investment. what's behind it?is the gop is very pro-business. have a strong impetus for tax reform, lower marginal taxestes, lower corporate and some repatriation agenda that brings money back into the u.s.. you will also have increased focus on spending. that has been enunciated by both hillary clinton and donald trump. you are likely to see trump advocate for that and a gop congress push for that. alix: you have anti-immigration policies. hsbc says we could actually see a recession over the next one to two years. why is that not the story today? it's's a fair question and a risk. i think it's overplayed. the regression from trade is going to be difficult to do. part of the issue is donald trump really doesn't have a mandate. the gop does. if you look at elections around the country into vegetable -- individual gop members of all pulled better than donald trump did in their areas. they are not going to be called into a donald trump anti-trade rhetoric. there going to do things that are more mainstream gop thinkin

joins us at post nine to discuss that is adam shore, director of global equity strategists janus capital. apologies, adam, you're not at post nine, but we are happy to see you. tell us we're seeing banks move higher, where do you see sector specific opportunity on the trump win with the republican congress? >> i think we are seeing it in some of the stocks move but may be more behind us. so you see in the infrastructure stocks that have been strong that part of the trump plan to spend more there, i think health care is a tremendous sector. we've seen some recovery, but we still think we're coming off very low valuations. and a little relief on the regulatory pressure is good, but just some of the competitive opportunities in health care still remain and that's where we want to be invested as well. >> so are you making moves? are you buying this morning? >> well, we didn't really pull away. we didn't have a trump or a clinton portfolio. but, yeah, there's nothing defensive about how we're investing right now. we've been buying in our health care portfolio, biotech for some time on its wea

bloomberg terminal users will be watching their inflation breakeven's. , head of asset allocation for janusement. coming up, harold: hamm, a leading candidate for energy secretary. this is bloomberg. mcconnell says he spoke with the incoming senate democrat leader about working together. more on theh >.oomberg at live

. >> and then later today, oh, boy, trying them all out today, don't miss bill gross, janus portfoliostern. what'd he say everyone would be worse off? >> he doesn't believe there was a trump rally. >> he's a capitalistic socialist or i don't remember. i can't remember. anyway. ♪ ♪ ♪ is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. (bing) tell me, how do you like to learn? songs are my favorite! ooh! elmo likes songs! puzzles! me love puzzles. well..puzzles are a great memorization too- dinosaurs! yess!!!! puppies! ooh! i love puppies! so do, i. actually...pets can teach important lessons abou- dancing! elmo loves to dance. okay then, let's dance. (everybody cheers) yeah baby! >>> our guest host this morning sam zell, chairman of equity group investments. commercial real estate, sam, is expensive, is it not? >> i think so. yeah. >> and will the economic growth that you see that could happen if, you know, things go right, will that offset the rise in

thre to e o seveteumenta o$5will g the ent orwith the erall ,000cash pwill 15 ahareden 202017adlis janu thatugurnay. morenforon abo decongchecakaiem td pol6789 mmon assumption, earmarks they increase spending, reclaim control of discretionary spending, 1% from the executive preceding year, the practice improved by requiring all projects to be on a public website with a written justification. earmarks all together diminished congress' ability to solve hard problems, take often entrifrned o income difference, it is impossible if there is nothing left to give or take. to that?our reaction guest: with the ability to use earmarks to gain support for specific bill you are dealing with or legislation all around, the ability to get that has taken a hit in congress over the last six or been years, earmarks have curtailed. now i've done a lot of work over earmarks, he also entioned transparency democratis did add to the process. for reporters, it was very us a chance to look at what was going on. my lastetails here from ig look in 2010, i'm sorry, 2009, at the end of that era of earmarking. actua