kailey: that's how we measure time. jonathan: that's how we measure time on this program, kailey.hank you, but she's just a guest on this show, doesn't have to tolerate this permanently. tom, it's not just the band market. 107 on the dollar index, these are just numbers you've got to try to get used to again. i have no idea for how long. just numbers we haven't seen since 2002 for the dollar index, for the bond market i believe since may. tom: but dove tail the velocity with what dr. maki just said, his decline in inflation is extraordinary. i don't think that's in the market. jonathan: when does the fed start to respond toe that? that's my question. when do they see evidence behalf you're discussing,ing and when do they press pause? the answer for a lot of people on wall street is not yet, and perhaps not any time soon. everyone was forecasting a rough summer, tom, about a month ago, and it's getting rougher in parts of this market, maybe beyond equities in a way that we didn't anticipate in foreign exchange. but the if everybody, that dollar strength has got to be good news, has

tom: kailey leinz is with you. tom: planning crypto tuesday? kailey: i'm always planning crypto. i'm paying attention to snap. is that important macroeconomic indicator? companies not wanted to spend on online advertising because the environment is deteriorating. slowing in hiring. something we're hearing companies talking about. what does that indicate? jonathan: the paper plane in a windstorm. we have to see how facebook and google standup. i said that. i said earlier as well. you seem to have ignored it. kailey: does not count of it comes from you. jonathan: ok. fantastic. hopefully we can catch up next week. nasdaq down by .5%. five or six basis points on a 10-year. in europe, not great. euro-dollar -.6%. crude down 1.5%. kailey: the unwinding of price pressure in commodities something to keep an eye on. speaking of central bank responses, we got a rate cut from the bank of russia about an hour and a half ago, 30 mexico. it's friday -- 30 minutes ago. it's friday. cutting rates down 8%. economists were expecting 9%. 150 basis points when we were expecting 50. the cumulative t

kailey: it comes out on friday. i think the narrative is that stranger things and 11 and all of that good stuff will help on the subscriber front. this is just the kickoff of big tech and as we have a narrative these giant companies slowing down hiring if not outright laying people off in the case of microsoft, that speaks to the broader economic environment. we saw the effect that had on equities more brought the yesterday. jonathan: you nail the price action around netflix. tom: stranger things. jonathan: you were kicking it off the rails. kailey got it back on. down 22% of the report before that. what is in store later? kailey: buckle up is what i would say. jonathan: apple on thursday next week. kailey: they launched a desktop application. tom: she is a font of digital knowledge. kailey: that is what i'm here for. jonathan: is it still on your phone? snapchat? kailey: i have a 1700 days snap streak with my husband. tom: what? i have a 700 date streak with -- i 1700 date streak with mrs. ke ene and shots of tequi

kailey: sounds about right. tom: right now we will go to studying the advanced timeline with kriti gupta. kriti: yesterday's rally was so significant because it was the broadest going back to 2020. traditionally when you see that kind of broader rally, it is good news and that there is not a defensive tilt or cyclical tilt. the entire market is rallying and you have some high-volume. perhaps conviction by on the surface. essentially how many s&p stocks are positive minus how many at the end of the day are negative. going back to 2021, you see this rally, but in 2022 see that decline line stalled out. we need to see more of that breadth to have a sustainable rebound. i will also point out the other side of the argument, chris murphy said we had a broader rally, 98% of stocks were positive. that being said, that has historically led to some sort of correction. really a two way situation here. tom: thank you for that. viral on twitter, kailey leinz studying calculus. we now go to tartar and toothpaste. we can do th

that was a nervous laugh from kailey leinz. kailey: i have this vision of a bolo tie. can go bolo tie. jonathan: should we make that happen? we should make that happen. you don't buy me anything. i cannot wait for that. tom: do you like marmite? jonathan: you joke, knowing u.s. that time, that could be the interview. the nasdaq is down. no drum in stocks. -- no drama in stocks. just waking up on euro-dollar. ritika: keeping you up-to-date with news from around the world, i am ritika gupta. in the u.k., boris johnson is fighting to stay in power after two top aides jumped ship. their resignations came after johnson apologized for the latest scandal involving allegations of sexual misconduct against a conservative member of parliament. the new chancellor made his name as the vaccines minister during the pandemic. in have the department, illinois, authorities have charged the suspect in the shooting at a fourth of july parade with seven counts of first-degree murder. more charges will be filed in coming days. the 21-year-old could be sentenced to life in prison without pa

kailey: white claw, lack cherry flavor.athan: and it just taste like fizzy water with a hint of black cherry. for the weekend in brooklyn, if you are interested. kailey: on my target patio furniture. jonathan: a lot of economics going on to it. tom: we are deep into research. jonathan: i am convinced that you already have hard tank in the morning. tom: it is homemade. jonathan: is it, future is down .5%. tom: tell anne-marie i do not like the mango. she brought back jeddah some mango. jonathan: you can listen to her story -- to a stories on hard tang. or you can tune in for more bloomberg at 9:00 eastern. tom: we are getting competitive. jonathan: you can tune into real yield, a special someone -- summer edition with tom anchoring. i thought you would be excited about that. tom: looking forward. i am at a loss for words. jonathan: from new york this is bloomberg. ♪ >> keeping you up-to-date with news around the world. jerome powell probably will not continue the pace of interest rate hikes after a straight 75 basis point in

good morning to kailey leinz. kailey: netflix is one of the big stories this morning.pected them to lose 2 million subscribers, but only about one million, not as bad as expected. the stock was down 70% year to date earlier but you are seeing some relief before the bell. other earnings movers, biogen lifting its full your outlook, but there was a disappointment in the pipeline, which is possibly why they are down 2.4%. baker hughes missing due to the suspension of business in russia. that stock down about 4%. we are awaiting more earnings today. after the bell, tesla is reporting. facing a lot of headwinds from china in particular. we will look for clarity on that. speaking of china and their covid zero policy, due to an outbreak in macau, casinos have been shut. it looks like they will open july 23. tom: thank you so much. we are going to get away from the vanilla, stocks up, down, and actually go inside baseball and what pros are talking about in the debt market between a yield that yields and one that floats. deborah cunningham, cio at federated, is with us. i see a

kailey: they are tougher times. they are having to pull back on capacity expansion plans for next year. they're trying to get destruction. airlines have been seeing it domestically and internationally, labor shortages and higher fuel costs. what that means for this year and next year is fewer planes and that is hard this morning. jonathan: much -- we must confront this. be sure one -- industrywide capacity, record fuel prices, increasing possibility of a global recession, challenges we are already addressing. that's what united is looking to confront. they expect to be off a bull in three q. tom: i would say it is uneven and what i'm seeing right now, pm is really challenged here and distracted. as you say, near parity, the euro is stronger since the half an hour ago. jonathan: just sat at 1.02. a few changes around the ecb at this particular meeting and going from here. we'll look at that in the moment. equity futures down .2%, the euro positive by .10%. a quick word on crude, down 4.5%, 9.51 wti. tom: it is the se

i'm sorry, kailey. [laughter] from new york, this is bloomberg. ♪ >> keeping you up-to-date with news from around the world, i'm ritika gupta. gulf producers, optimistic on increased output after the visit to saudi arabia by president biden. confident that there will be a few more steps in the coming week and that any decisions to pump more would be made within opec. in the u.k., sky news canceled the final debate in conservative party candidate, saying that two of the five pulled out of the event after last night's debate turned personal where soon act -- rishi sunak accused others of borrowing and conservative mps are illuminating one candidate today. the international monetary fund that they would other global out substantially in the next update after the g20 finance ministers ended their meeting in bali without agreeing on a communique and the imf downgrading their outlooks by 3.6 percent after russia in graded ukraine -- invaded ukraine. international airshow outside london, delta airlines purchas

kailey: at least as of late.e will see whether or not this is something that sticks around or it's just a bear market rally. likely, the earnings we get over the next several weeks we'll have some influence, but so much conversation about the risk of recession and yet the tone we are getting out of the banks is overwhelming confidence. the ceo saying there were consumers resilience is spending up 10% in the first two weeks of july. tom: from a not tom no -- tom no that's not fix is 72%. kailey: it has been brutal. a huge part of that came after their last earnings report in april. it will be interesting to see with the share price reaction is to those earnings. netflix kicking off the big tech companies tomorrow but the bulk of the market caps will be next week when apple and the other giants report. tom: the close will be covering that. one comment here. bitcoin is a bottom. kailey: we will see. bloomberg crypto tomorrow. also the bloomberg crypto summit so tune in for that as well. tom: i can't go that long. st

tom: kailey, michael has to help us. supposed to say no, bloomberg intelligence is all-knowing. kailey: they are all-knowing. we appreciate their insight. if we could take this down to the sector level, after data like this, after looking at the moves, i take a look at the banks. looking at spider etf, which is how i gauge the actions of the sector as a whole, before the opening bell rings, up a quarter of 1%. how do you balance the idea that the fed is going to be hiking rates, that is going higher, but you have an inverted your -- yield curve and fear of recession and put it into a thesis for the financial sector? michael: the financial sector trades closely with the two tens curve, which is inverting and possibly getting deeper inverted. that is a negative for financials performance. is not matter much for financials, that is going to be more about the 3, 5-year end and other curves. certainly, performance is going to be pinched by the two tens inverting. tom: thank you so much. michael casper with us of bloomberg int

kailey: we've seen it in meta already. apple privacy changes have been weighing on that stock for a long time. jonathan: i will whip through the price action. the nasdaq, lower by half. the yield and six basis points. euro-dollar 101.55. kailey: i will try to get myself out of the doghouse with tom keene. we have a lot going on. just about 25 minutes from now, we will get a decision from the bank of russia. we have already seen 10.5 percentage points of rate cuts from april to june. we affect another 50 basis points today, although our economists at bloomberg intelligence think the central bank will raise forecasts -- what a turnaround compared to when they first invaded ukraine. we will get results from twitter -- just results, not a call, because that is all the drama with elon musk it will he be forced to buy the company? looking at a share price of $39. does not look like the market believes it. but we will pay attention to the advertising and daily active users. are they falling victim to the same forces as snap, adve

kailey: it has been a catch 22 for the banks. banks are going higher and you also have a deeply inverted curve and concern abound -- about recession. jonathan: recession on, recession off seems to be the trade. does that get you excited for the weekend? tom: it doesn't, and i had the privilege of speaking with lawrence summers on wall street week on friday. i thought larry was brilliant about the foolishness of gaming all of this. the word recession as a forecaster guesstimate of a number of moving parts. you just have to get one of them wrong to be wrong. jonathan: the labor market at the epicenter. futures up .9% on the s&p. the nasdaq 100 up. strong and to the week with a strong tilt into the financials. the banks finishing really strongly on friday's session. yields up by five basis points on a 10 year. euro-dollar, what a week ahead for europe. kailey: it is going to be interesting and exacerbated by the turmoil in italy. how does the ecb keep control of the periphery if you have that kind of crisis? that is later this week.

kailey, thank you for that. kailey: you had second-quarter covid revenue up more than expected.he estimate was for just south of 223 million. the real headline is they have cut their full-year earnings view to $10 and $.10 a share down from the previous view of $10.15. i am looking to find the release as to the why. we will take into those numbers more throughout the morning. jonathan: will come back to that in just a moment. futures up .8% on the s&p. we will talk a little more about what will happen with the ecb later this week. 25 or 50? from new york, this is bloomberg. ♪ jonathan: it is yesterday on repeat. yesterday equity futures elevated, than the gains faded quickly. futures up eight or 9/10 of 1%. on the russell small caps up 1%. muted price action in the bond market. at about 8:30 we should get housing data and building data. the bond market looks like this. your 10 year yield unchanged. your two year 3.17. what is not unchanged is the situation in europe. let's take a look at the euro. a conversation about potentially a 50 basis point hike from this ecb, 25 or 50. re

kailey: what does that mean for the curve?mas: it generally means that it continues to invert at is slower pace than what we have seen to this point. we could see another 15 to 30 basis points. that will depend on whether the market price is terminal at 320 54 350. lisa: what is more important -- jonathan: what is more important, eci or --? thomas: eci. simply put, wages will tell you where inflation is going to get sticky. it is telling us sticky cpi around 5% if the fed fed does not tighten further. jonathan: thank you. thomas tzitzouria there. we get the data later this morning. lisa: what do you think is the reaction in the markets? if it comes in hot, how much does that change this market? that is good news and -- in terms of having more buying power. jonathan: we have an adverse reaction in a market pricing out for fed, they might have to price it back in. lisa: if we get a weaker than expected cost index, if there is less momentum in the wages for employees, how much does that give momentum to the trade versus already h

kailey: the clock is ticking.ou are in michigan to cover the primaries, how much time does this administration have left to do something to change the minds of voters? emily: not much time at all. keep in mind that a number of these voters -- there is a lot of early voting. the window the democrats have to change the narrative here is slipping away. i've talked with both who have said they are concerned about gas prices and the prices go up at the grocery store. there are other issues in the mix. so have -- those have remained at the top of the list. jonathan: thank you on the latest in washington. the story is unlikely to change next week according to forecasts. we get the cpi trend on wednesday. the estimates so far, the median is 8.8. morgan stanley, 8.8. those are the numbers from big names. they are looking at 9%. tom: people are worried about core inflation. the answer is were not living core inflation, we are living top line inflation. it's double-digit. let's be clear, you take 40 pieces like david rosen d

kailey: they can get there?ing about a european recession, you think the ecb could -- at 2%? jennifer: it will take a lot longer. it will depend a lot on underlying conditions. the end year is the pickup. wage negotiation suggests the administration is becoming sustained. in the years case, we think it will dip into a recession related to the uncertainty around that. the ecb is going to have to press ahead. tom: jennifer, we are pausing for a moment of silence. we go into the most arguably the important ecb meetings tomorrow. what will you listen for from christine and philip lange? jennifer: it is going to be important whether -- it will be a pretty clear signal where it stands. we think it is more likely for 25. that is where it will go. some indication of whether it is going to pickup the pace going forward. some confirmation of that, we are penciling in at 25 this time. tom: when carlin is one of the giants of economics. does the algebra in windy carlin's textbooks still work or are in -- or are we in such a

kailey: and they are tired of being wrong. is saying the equity market heard this the wrong way. that what she heard from the chairman is they are still going to be reacting heavily to inflation, and that is after an equity market rallied two days, the best post-fed rally we have seen. it is interesting how you are seeing economists saying one thing, people like harper and saying another, and the market doing something different. is this the pivot that the market seems to be focused on? jonathan: i wish there was a live feed of the sendai during the news conference with chairman powell. lisa and i throwing up her hands and going, what is going on? another meeting with stocks rallying hard, and is this an unwarranted loosening of conditions? do you remember what rosenberg said? lisa: they were saying people are trading on hopeium. that said, and just to be contrarian to myself -- and i know that his head-spinning -- i go to gina martin adams, who was talking about this rally could be viewed as constructive. we have not gotten t

kailey: what rate is that?s really interesting and the latest summary of economic projections is several participants penciled in the unemployment rate about 0.5 percentage points higher than we currently are. that is telling us implicitly that they are thinking may be a hard landing is there. that is an interesting one. when we see an increase in the employment rate of 0.5%, we should be worried. jonathan: looking ahead to payrolls coming out at 8:30 p.m. eastern time, if you're just tuning in, we woke up to the sad news out of tokyo. the former japanese prime minister has died. the longest serving prime minister we shot while campaigning in japan. the current prime minister said it campaigning will continue. a key figure in the effort of shinzo abe was the governor. the governor had a couple of headlines. he would like to convey condolences. he achieved many results toward ending deflation. he paid tribute to his dedication to the economy. we were meant to the three arrows in 2012. the governor is a key part

jonathan: kailey, what is your take?y: inflation is still hot so it becomes a question of if we think the fed will be firm. the equity market telling you there will be weakness in their resolve. will their -- will there be, though? jonathan: joining us to talk about that is vincent reinhart. this market seems that we are taking the first pivot. do you agree? vincent: not particularly. the sentiment is that this will be massive disinflation. we think the inflation, the fed will have it over the next few years and that will allow them to prevent. lisa: is the economy doing really well or is it not? i've tried to parse out the equity move. some people accuse me of being bearish matter what. if the economy is weakening, we have a fed that is willing to curtail that if they continue with their rate hikes. you think they're going to cause a recession by design as jay powell seems to be suggesting? vincent: if you believe inflation is the number one concern of the fed right now, you woke up this morning within fission as a prob

kailey: and what are those companies? katrina: in the united states, we like the homebuilders, despite what we heard this morning. i think there is a real supply demand imbalance here in the united states as a result of the under building and supply chain constraints and things like lumber and labor. we look at homebuilding demand as really being driven by the creation of new families. with unemployment so low, we anticipate that will continue, and that demand for new families will drive demand for new housing. jonathan: a few minutes away from the decision. if you had to make a call, 25 or 50, which one is it? katrina: i think it is more likely to be 25. the ecb will take things gradually. i think they are concerned about the growth outlook and they are very much concerned about bringing in inflation, that some of those drivers of inflation are already starting to come down. i think we are more likely to see a 25 basis point than a 50. jonathan: awesome to get your view on things. looking ahead to this ecb decision, it's

i'm jonathan ferro together with kailey leinz and tom keene.he nasdaq 100 up .2%, goes higher by a couple basis points, crude falls back, slipping beneath the radar but a sizable move. any $5.13 and to round things -- $95.13. and the tiniest bit of euro strength going into the decision, 8:15 eastern time. tom: it is very nuanced, something to watch. that usual turkish lira angst, but worth watching. the swiss franc supposed to be at 0.98 moments ago, a big deal to see it below .99 as we go into the important moment for the ecb and christine lagarde. francine lacqua is in rome, not just in a heatwave but in a normal summer in rome made more complex by the collapse of the draghi 10-year -- 10-year -- tenure. she will join us cozy in the moment with a spreads that she has earned. francine: and air-conditioning. tom: yes. for draghi, what is next? francine: we don't know what's next but we -- he will probably be looking at italian politics from afar. there is no real legitimacy 10 taking charge of the government, he has been in charge for many mont

kailey: that is what you're buying in equities. what else people have been buying over the course of the year so far is commodities and the dollar. how close are we to the peak of those? andrew: we think the dollar could still rise further. we think the dx y will move up to about 112. relatively sharp near-term move that our foreign-exchange team is expecting on the back of the fact that we think the bed is much more likely to be complied rate expectations than the ecb. we will ultimately raise the risk that the ecb won't be able to hike as much as the market expects. on commodities, i think it remains a story of energy versus metals. on the energy side, we still think further gains are possible especially against the forward curve which is implying large price declines. i think the metals case remains much more challenging. a lot more of that is driven by uncertain chinese demand. jonathan: you've got to go back to the early 2000 for that kind. tom: yeah, you do. maybe i will do it here, which is not an em index, but what does tha

kailey: you continue to see them. he was asked moments ago how many more ministers have to resign before you yourself will resign? he pushed back and tried to drive the conversation back to economic policy, the work of the government, fiscal stimulus he wants to get back to. how much will he have success in doing so when this kind of turmoil is going on in the house of commons and he will face more later tonight? jonathan: let's talk about the foreign-exchange market, sterling against the u.s. dollar, 119.10. some of it is entertaining, depressing, but, ultimately, it is about policy. it is very difficult to understand what the fiscal policy path looks like with this mess playing out before us in the house of commons. tom: the immediate moment, it is tax cuts or increases, but what is so important is the aisle and nation -- isle and nation beleaguered. this is a group of conservatives and labours facing extraordinary pressures. you see that expressed within whip sterling, but as this drama continues, and as sir lindsa

thanks to kailey for the update on where we are in the market.uts its growth outlook for the third time. ims chief economist joins us next. this is bloomberg. ♪ anna: -- angel: jane harman, former congresswoman and this thing which fellow at the wilson center joins bloomberg tv at 12:30 p.m. new york time. this is bloomberg. >> ♪ angel: here is the first word. the european union is preparing for the possibility of a -- of russian energy supplies. the eu agreed to cut their supply of 15% through next winter. it reflects the rapidly deteriorating workforce from russia. the nord stream one pipeline are said to drop about 20% of capacity. former president trump returns to washington today for the first time since leaving office. he will make a speech -- for a possible second term. his visit to the capital comes as the january 6 committee has been detailing his attempts to remain in power and his refusal to call off the violent mob of his supporters. house speaker nancy pelosi's staff is not ruling out plans for her to visit taiwan next month. that tr

kailey: don't miss the latest of "uber green" -- "bloomberg green".ani: welcome back to "bloomberg daybreak: europe." russia has resumed sending gas to europe through the nurturing pipeline. it is bringing relief to the economy. how long will that relief last? let's bring in our bloomberg energy reporter. some relief. how do we interpret all this? >> the fact of the matter, it is good they are getting gas but how long will it continue? they are at 40% capacity, that is not great. some say it is enough to refill. it depends on how much the demand will be and how they can reduce the demand. there is some worry that the capacity could be reduced to 20%. there is turbine, maintenance, large drama to help float the gas to the pipeline. if they do not get that turbine, they will not have it at the same level. they are preparing to reduce flows. even beyond that, can europe still trust putin, russia? they have been very unpredictable. dani: we have a couple possibilities here. 40%, 0%, somewhere in between. what does this scale mean? are there big nuances? >

reporter kailey peace and explains more on how all of this unfolded. >> it's just a very scary and

kailey: this week on "bloomberg green," the green energy of the future.ke clean hydrogen and its benefits for the planet. flying high, we take a look at the practical uses of green hydrogen as jet fuel. va

. ♪ kailey: this week, africa's climate challenges.s the continent most exposed to climate change plan to tackle the green transition? norman: solar has to be our go-to technology to resolve the

her name in the united states has suffered a loss as well, including the killing and sharing abu kailey, sure lanky, his prime minister, has been sworn in as being president. ronnie leigh wicker missing has promised to restore law and order in the country after recent demonstrations and violent protest grip the south asian country. on thursday, the resignation of president gossip bio roger pack that was officially confirmed by the news drove massive celebrations, erupt it across the country or you're in the week. the presidential residents will storm by protestors who blamed him for the country's economic implosion. roger pucks fled the country eventually turning up in singapore from where he finally offered to some new presidential elections by the will be held in parliament next week. much will despise many sure. lincoln's hoping a new, brighter chapter is ahead. the countries still faces a whole host of crises including a severe fuel shortage or take our spawning from june sharma picked up the story. a half with me. i think monday morning. critical. i don't know. no. with now, with a

. ♪ kailey: this week, the rise of ecotourism. sustainable travel take over the public psyche? and does it go against the idea of luxury? >> i think we have to see if our global community still wants to travel this way when the

reporter kailey peace and explains more on how all of this unfolded. >> it's just a very scary and traumatizing experience. >> minutes after a 4th of july parade kicked off and highland park. illinois shots rang out. hundreds of parade goer, some visibly bloodied running in a panic, leaving lawn chairs and other belongings behind. i've never heard my mom or my sister scream like in my life. and i hope i never do again. one father tells us the lengths he went to keep his child from the gunfire. >> but i think it was he reloaded. and then that's when i. grabbed my son i ran around the corner and i put him in a dumpster with garbage dumpster. nasa people stay there with him. >> authorities say the suspected gunman, robert the 3rd apparently climbed to the roof top of a building along the parade route and rain downed shots on to the unsuspecting crowd. the deadly shooting leaving dozens injured, including a handful of children. the manhunt for is now underway while many families that were at the parade say they feel blessed to be we're really lucky that. >> everyone who was with us was okay and tha

tom: kailey cannot do the gloom like lisa. jonathan: i will do a price drop in new york anytime they are ready. tom: seriously, what was important was with building permits, multi family exploded higher than single-family. it signals it will be a renters 2023. jonathan: joining us is phil orlando. what are you looking for? philip: 75 basis points today. you talked about the importance of the presser at 2:30. we are looking at jackson hole, that is one month, august 26. what that meeting does is it provides another look at the inflation data, particularly 9.1% nominal cpi number sitting at a 41-year high. by the time we get the jackson hole, the fed will have seen the july inflation data, and that will provide us with better guidance in terms of what will happen at the meeting and the november and december meetings to follow. does the fed stay uber aggressive in terms of withdrawing accommodation or do they downshift to something a little easier? that is a very much open question. tom: phil orlando, good morning to you. i notic

. ♪ kailey: chevron alix: chevron and exxon up with record profits.hese are in norma's numbers with tremendous cash flows. i think earnings are -- you can fill in the words. it's always a pleasure but that's the question, i think oil earnings are -- >> they are probably at the peak. i think that's the problem and it seemed like the problem yesterday. why did the market sell the stock in the concern is recession. it's a tough one but we are doing $110 brent as of to day. the stocks look exceptionally undervalued stop alix: whether the signs that we are at a peak in your opinion? >> i just don't see how things can get a whole lot more dramatic than q2. we believe the refining capacity problem is structural and we think the global european gas prices are structural. europe is competing with asia for that gap. you can't say we are going to extremely high prices on an ongoing basis. if we see significant week is, we will be forced to see lower margins. i think the earnings are at a peak. alix: i wanted to highlight the chevron buyback step they had been ad

together with kailey leinz back in your city, and in this market, we have lots to talk about. >> we always have a lot to talk about these days, and even with all of that, a fear of recession, first and foremost, in addition to turmoil, we have three days of gains on the s&p 500. those gains are continuing in the session this moring. we are up eight points on the s&p futures, or .2%. the same for the nasdaq 100. we are getting a look at the small caps. they are up about 3/10, but were a lot of volatility has been concentrated is in the bond market, and we have had minutes yesterday. you saw massive move at the short end of the curve, as the fed talks about the opus of inflation. they are teeing up a move of for teen or 75 basis points. coming up in three weeks, and as a result, you have even more deeply inverted yield curves. a two year treasury yield is only up about basis way or two, but it is north of three sent, where is the 10 year yield is trading at 295. at two 30 year yield at 14, so the yield curve reflects the concern that they are moving aggressively. that may cause an economic s

right at the london club during the close season. supposed to be playing games against the korean kailey 11 and the spanish side severe and so i was just doing all he can be ready for the upcoming open championship in scotland despite appearing in a lot of pain. it sounds which made it through a practice round out some andrews would say is still recovering from a serious leg injury. he suffered in a car crash last year. he's barely played any competitive golf since that accidents . ok, that is how your sports is looking for. now, thanks a lot, andy with us, if for me and he bought for this news hour, but i'll be back of course, in just a few moments time with more of the days news you are watching al jazeera. ah, i thought it difficult, so i la la la la la la national. why is one on one the how do you to visit what else can a philistine bitten the from the fish for? yeah, well, at the back of his say yet a can of little sob. is it done? well, i can going to fish out in the cold. there's topics here. how that was in 4th and i could rally bunkerville coffee. and like in the past on macedon

reporter kailey be sun has the latest out of highland park, illinois. what we know at this hour, those who were shot and killed along the parade route were 6 adults. >> there were dozens of others injured, including at least 4 to 5 children. and i want to give you a look at the parade route at this hour. you can see some of the items that are scattered here left. hours after that gunfire erupted, chairs, snacks, strollers. this has been abandoned out here all day on the 4th of july. we also have some video from earlier in the day moments after this 4th of july parade kicked off in highland park. illinois shots rang out, sending those in the parade and those attending scattering hundreds of parade goers. some visibly bloodied fled the route after this gunfire erupted. police describing the shooting as random saying the suspected gunman likely used a ladder and an ally to get on top of a nearby building firing into the crowd below local medical teams acting quickly to respond. leaders in that field say the system worked well to provide people with the bes

place to run into the lumen club during the close season spurs and playing games against the korean kailey 11 and the spanish side severe and so i was just doing all he can be ready for the upcoming open championship in scotland despite appearing in pretty severe pain, it's holmes woods did make it through a practice round. since andrews was still recovering from a serious leg injury, he suffered in a car crash last year and he's barely played any competitive gopher since that accidents. this will be the 150 staging of the open would says, wellness title on 3 occasions. they bit of america manages to do it again. i think this song okay, that is how you sports is looking for me. thanks a lot on day. well that's it. for me and eve parker for this news, our lauren taylor will with you from our london broadcast center to moment with more of the days these are without a 0 ah, the chart is that good? ok. so i will follow up on the line on nationwide each one on the how do you to visit with counsel the philistine bitten the from the special for yeah. so will, and about the fisa can a little sob?

kailey, enjoy. as kailey says, it is coming up on bloomberg television, 8:00 p.m.uropean close, light volume today. the u.s. is out celebrating what is best what i guess is the original brexit. this is bloomberg. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) >> monday the 4th of july. european markets doing fairly well as you can see. the countdown to close starts right now. >> the countdown is on in europe. this bloomberg markets european close with guy johnson and alex steele. guy: 30 men's to go and we have a situation with light volume in europe. the americans are enjoying the four

was the former richmond fed president, jeffrey lacker, speaking with bloomberg's jonathan ferro and kailey have plenty more ahead here on "bloomberg markets: asia." stay with us. this is bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. india's number two exporter info sy has said revenue will grow 15s percent through march next year. the new revenue projection alleviates concerns that a slowing global economy will stifle technology spending. india's second largest private sector lender beat estimates for the second quarter on robust demand for loans and wedding interest margins. income rose to $864 million. the mumbai based bank has been growing rapidly in response to higher demand for consumer credit. oliver bloom is set to become volkswagen's ceo. according to sources, herbert diess's clashes with labor unions and delays in the software unit, spurred the shakeup. we are told that vw is betting bloom will be more collaborative and stable as the company pushes into electric vehicles. juliette: one market that is moving higher today is singapore, very much on the r

here's kailey mcenany his press secretary to explain. >> he wants a list of senators and he's callinge by one. do you know which ones he called? >> to the best of my recollection, no. as i said in my notes he wanted a list of senators and then i left him at that point. >> because the presidential call log is empty, we do not yet know precisely which senators president trump was calling, but we do know from rudy giuliani's phone records that president trump also called him at 1:39 after he had been told that the riot was under way at the capitol. mr. giuliani was president trump's lead election attorney. at 1:49 here's what was happening at the capitol with president trump's fired up supporters. >> we will try and get compliance, but this crowd is effectively a riot. >> declaring a riot. >> hold the line! hold the line! hold the line! >> what did president trump do at 1:49 as the d.c. police at the same time were declaring a riot at the capitol? as you can see on the screen he tweeted out a link to the recording of his ellipse speech. this was the same speech in which he knowingly sent

troops is really central to his defense and also the fact that you have mark meadows, and you have kailey and others recognize that this is a real vulnerable they donald trump failed to prepare in advance, that he sad there for 187 minutes and he did nothing and that he was in fact, derelict in his duty and this is a very, very stark case and that's a rather compelling and unambiguous bit of sworn testimony that you just played. >> i have to sneak in a break, but on the other side, neal, i want to ask you if the fact that they lied about it at the time suggest they knew that there was criminal exposure at the time. we have to sneak in a break. we'll all be right back. a break. we'll all be right back. this is john. he hasn't worked this hard to only get this far with his cholesterol. taken with a statin, leqvio can lower bad cholesterol and keep it low with two doses a year. side effects were injection site reaction, joint pain, urinary tract infection, diarrhea, chest cold, pain in legs or arms, and shortness of breath. with leqvio, lowering cholesterol becomes just one more thing life t