kailey: you are saying the bottom is in. if we do, you could see something on the downside of the s&p. john: if this is a non-recession bear market, you are right. but one thing that is interesting about how things have transpired, back in june we got that --. it doesn't work on that. two months off the low, young started to diverge. markets continue to push higher. if the market with sustain itself above, 200 day average, then odds are we are not heading into a recession in the market will continue to move higher. i think the market is trying to form a base in the bottom. guy: what did the internals look like right now? john: two different ways we can look at the market internals right now, one is that making an incredibly robust --. one in particular with 90% of the s&p 500 with a moving average. the 52-week low, it is only about 100%. a really robust demand. on a shorter-term basis, look at warning signs this is going to peter. we saw the high starting to decline in the month of august. even though the market was moving h

kailey? kailey: thank you.ore now on president biden's announcement let's go to bloomberg's washington correspondent, annmarie hordern. we know what the details are. how do we expect the president to frame it at 2:15 this afternoon? annmarie: the president is likely going to say that this was a long-standing debate within his administration and they were able to coalesce on these details. he is also going to say that his administration is delivering on a campaign promise. the issue he has they are is that many on the progressive wing of his party are going to say it is just not enough. you already heard from senator warren, really applauding the administration, especially that $20,000 relief for those that were pell grant recipients. if you got a pell grant you do not have to pay the federal government back. these are for individuals that are exceptionally low on the income scale, but wanted to go on to the secondary and higher education. that is going to be the first point of contention he will have from peopl

this bloomberg. ♪ kailey: u.s.e right around session lows after that low of july jobs report. abigail doolittle is tracking the moves. not the best way to end the week. abigail: if we took a look at the nasdaq 100 over the last two days, we are talking about a round-trip. let's talk about a round-trip round-trip. we have the nasdaq yesterday gaining for another day, then higher into the session. on that jobs report, that blowout report that sent yields soaring, it took big tech down on valuation concerns. we saw the recovery, and now not so much. down 1.4%. those big cap growth stocks come under pressure from yields rising. let's take a look at yields rising. it is astonishing what is happening here with the two year yield. it is backing up by about 20 basis points. at 3.24%. that was not helping the banks earlier, because the yield curves are flattening, the most in 22 years. you can see the banks right now not doing so bad at all. interestingly it has been a volatile session in keeping with this year, 2022 oil as

kailey: -- there. let's talk about what everyone will have to pay to get on, have we seen peak fares? savanthi: i think we have seen peak fares because earlier in the summer you had this perfect storm for various reasons, capacity being constrained and 10 percentage points below. it will catch up to demand. it has doubled in a short period of time. fuel has pulled back a little. that will be somewhat set off by wage increases for staff. tom: i want to go from grand forks, north dakota 82 miles south to fargo. if i want to fly from fargo to new york, it is almost cheaper to go to minneapolis to fly out. is american aviation giving up on smaller cities? savanthi: not completely. i think fargo is probably going to continue to have service. our pockets that airlines are struggling of pilot supply in service. that will get resolved over time. it is for small cities, you will see maybe less frequency or in very small city instances maybe no city service. the result is a pilot supply issue and a cost issue. i

kailey: what about in the u.k.?nergy crisis is not just on the continent but you're the pound week since march 2020 as well. karim: the u.k. is facing quite the challenge. when we look at the u.k. and its outlook on growth and inflation, the bank of england is one major central bank that has acknowledged the recession that is likely around the corner as inflationary pressure builds. in the u.k. we have to make a distinction between the stock market and the economy. if you look at the stock market, large caps to get a lift from sectors like health care. international exposed companies more broadly. guy: in terms of what you described, the fact that shorts have been covered strikes me as quite negative given the next step will be to reappoint those shorts and put them back on again. karim: i do not disagree with your analysis. when we look forward it does not look positive at all for the equity markets in europe on a broad level. we can always get granular and there will always be opportunities there. on a global leve

peter: thanks, kailey, for having me.say that right now pacings for the rest of the year are running ahead of 2019. there is strength for the rest of the summer. i think the macro backdrop, as you and guy have been spending all morning talking about, obviously is something we think about. right now travel seems to be the number one area people want to spend money on. recovering from when they were buying goods and other things during covid. that demand, you know, continues pretty unabated. we are looking forward to a strong rest of the year, but there are plenty of unknowns in the macro environment. we are happy will be all right now. guy: peter, as you say, lots of unknowns, but what is your gut telling you right now? is this as good as it gets? peter: i don't think so. i don't think it -- i don't know if it gets hotter, but it is hot right now. no global warming jokes, but the summer travel season has been particularly strong. as strong as we have ever seen. i think that is going to continue for the summer, and i think

kailey: as we talk about the u.s.nomy, obviously, the picture here is very different from the picture where guy is in london. is the u.s. the only place you can invest right now? >> i would say europe is a lot more fragile. i just came back from their and it is very robust of an economy. people are there. there are a lot of americans at the moment probably taking advantage of the strong dollar and the week euro as well. i don't think the european economy is quite as fragile as we think. obviously, the pmi data that has come in is slightly negative. i think we're looking at signs. the big risk at the moment is in germany was to further disrupt manufacturing. i actually think the european economy is a little stronger than we proceeded to -- perceive it to be from over here in the united states. guy: are you money behind that? >> we have an overweight position in europe so i think our portfolio reflects our views in the positive outcome. i also think we look at valuations in europe and the gap has compressed but they con

kailey leinz had a great question today. will jackson hole get grizzly?'m listening to what george has to say, a relatively dovish week, i think there is a big possibility that could be the case. she said get the 4%, potentially we stay there, we look at the labor markets., claims data today. kailey: and you have gdp speakers out today as well. it will be interesting. i'm so looking at everything they said, so will it change direction only for chair powell tomorrow? guy: it will be a feature of the last few days. i think we are waiting for powell tomorrow. i have had a number of fed speakers. in aggregate, it is very quickly. let's talk to mike mckee. he is the economics and porro does policy corresponded joining us from jackson hole. what do you think? michael: at wall street you see the bears today, but they don't out here you don't see the bears. i would assume at this point the fed is not going to have a measure that would encourage people to sell their assets. but they would not mind if they do, because if they cut financed desk if they tighten finan

kailey: thank you.rsity of texas endowment is poised to overtake harvard as the richest in higher education. it has everything to do with oil. here to explain, the big take story you can find on the bloomberg terminal as well as online. this is a fascinating story, it has everything to do with the fact that the university of texas system is sitting on oil and gas. talk us through the numbers and what a revenue driver it is for texas. >> the system manages two point one million acres in the permian basis. it's the size of the lawyer and rhode island. the land lord was given in the 1800s when it was supposed to be bring it revenue for grazing rights. 100 years ago, they struck oil. it's the largest oil producer in north america. this year because of oil prices topping 100, it brought in more revenue. it also brought in more production. the system has a different strategy, they're looking to extract more oil. that equals the best year for revenue, more than $2 billion. guy: given the fact that -- how does

kailey: in the current -- enda curran, thank you.ing up next, michael kushma will be joining us as we see losses steepening. the nasdaq down more than 2%. what are you buying? the dollar. the dollar is up half of 1%. this is bloomberg. ♪ kailey: we are an hour into the u.s. trading session and it is getting ugly out here. losses steepening, being led by technology stocks. nasdaq down more than 2% compared to a decline of 1.7% on the s&p 500. it is true on all risk assets. you are seeing pressure in commodity. oil down 4%. money coming out of the bond market, you are up two basis points on the 10 year yield. trading at 2.9942. the only place you are seeing money going in today is the dollar, stronger than everything going in g10. the meme stocks, amc is down 36%. all of the other meme trades are lower as well. gamestop, beth -- bed, bath & beyond and weber are down 6% or 7% or so. i want to take one more look at the bond market. all we are talking about is what will happen on friday when chairman powell takes the helm at jackson hole.

kailey: what about geopolitical risk?e are getting a statement from nancy pelosi on her visit to taiwan. she says the meeting was positive and productive, and that it will strengthen ties and put the u.s. -- for both usn taiwan economy, and that china cannot prevent leaders from traveling to taiwan. we know they cannot prevent it, but it exacerbates a tense situation between the u.s. and china. how does that affect how you want to invest? aneeka: it comes at a difficult time, kailey. this is a sensitive issue, the u.s. visiting taiwan. china has repeatedly warned against such a visit, and we already have a war taking place in the backdrop, which has clearly been a major headwind for the european economy, when now we are just scratching the surface and in the case of china, in a very unfortunate position, they are less likely to trigger a war, given the fact they are grappling with macroeconomic downturn and their own economy, but, you know, it definitely pains a difficult picture on the geopolitical front -- paints a diff

we have to get to kylie -- kailey leinz. kailey: i will bring the hose.r, beating expectations when it comes to revenue guidance. plus, they are investing in more capacity. stock up 21% before the bell. cisco systems, big i.t. and network software maker, it beat expectations when it comes to revenue. the semiconductor shortage is easing. that is allowing them to have more supply to meet demand. it is up 5% before the bell. you had a profit beat for pj wholesale, up by 6%. the not so month -- not so fundamental moves, -- stocks. after a 400% rally, bed, bath & beyond, we are seeing them give back gains. down 13% after filing from ryan cohen, he may share that state, up to $7.8 million. gamestop, lower by 2.5%. apple, stock down by .3%. pressure coming into those large cap tech names. set the state on your calendar, september 7 is when you can learn about that new iphone 14. tom: the 14 pro with a new chip. it is going to have a new bionic chip, which is always a step forward within their product development. thank you so much. what is important is to watch

kailey: kailey: i want to pick it up with some breaking news. a court in russia has given the u.s.omen's basketball player brittney griner nine year sentence for the drug she was found guilty of smuggling. the nine-year sentence is what greiner has received. going to easily continue those discussions on a prisoner swap. guy: what is happening with the markets right now. europe going sideways today. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. guy: you opinion equities feel -- finishing the day higher. the dax is of higher 1% today. some single stock names we are focusing on. that is a picture we are watching. generally positive. this is how the s

kailey leinz in for jon ferro.ould suggest what we have seen here today in the last couple days is flows and a lot of doubt about the persistency of the flows into equities. paul: and you've seen that in -- kailey: and you've seen the and the bank of america data put together. global can be funds fuld in through august 10 was the cpi day. $11.7 billion for the flows into bonds as well. 4.3 billion dollars polled out of cash. if you are triple leveraged all-cash, seems like you might be the only one because a lot of people are putting money to work. tom: i would say that is right, it is a lonely position. drew matus joins us to sort this out. he is the chief market strategist at metlife but that barely describes what he and maury harris did at ubs years ago and the depths of the great financial crisis -- in the depths of the great financial crisis where they suggested the american economy would pieced together and would be resilient and move forward over the coming decade. i look at the moment we are in right now an

greg: i think it does, kailey.s the beijing government far less inclined to do anything with u.s. we will go into a deep freeze the next several months. guy: what does that mean -- if you are sitting in the markets trying to understand the implications of all of this, we were talking to lisa from morgan stanley earlier on and i asked a question about geopolitics, and whether it is inflationary. this is clearly going to have an impact on trade between the two. it is going to put sand in the years of global trade more broadly. when you think about this from an economic point of view, how much of a problem is this going to cause the president? how persistent is inflation going to be as a result of what is happening on the foreign policy front? greg: i would say the main inflation impact comes from ukraine, where the price of everything from green, fertilizer, fuel, will be heading higher. this view of the bond market in the last week or so that maybe inflation has peaked to me is naÏve. i think it is premature to make

kailey leinz in for jon ferro. talked to him yesterday, stuck in rome off of the train from naples. he is trying to get back home. he is coming out of fco and it looks to be a struggle. let's get to it on inflation. your observation to 8:30 this morning? lisa: it will be about the headline cpi number, about the course to get numbers, and the readthrough to the real economy, real wages, which we also get at 8:30 a.m. how negative two they go -- do they go? most negative on the margins with disposable income of operating. tom: i agree with you. real wages underplayed and important. i like what alan ruskin says at deutsche bank. we will give you the research done in the last 12 hours which is what surveillance does and he has december cpi above 4%. thank you for bringing this to my attention, bank of america with four glide past, we have inflation back in the second quarter. lisa: this is the issue any raise this many times, and your right to do that. at what point does the fed signal we are done or we can start movin

we will watch out, kailey, executive but is happening out.ll hear from loretta mester in a moment. for that let me show you what is happening with the markets quickly. this is the picture in europe as we come into the close. it is a negative one. part of it is what is coming out of jackson hole. part of it is what is coming out of europe. equity markets are soft today. the ftse having a slightly better day. some of the big energy stocks doing fairly well in europe. that is boiling that market, which has become the safe haven of europe. let's work our way through the price action quickly so we can get to loretta mester. most of the day we were waiting -- we were on board, we were waiting for power. don't get much of a reaction. we also get news about 75 coming from the ecb. then we go down fairly hard. let's take a look at the stocks in the sector story we are watching around all of this. this is the grr. everything is in negative territory. energy doing the best right now. at the bottom you have retail, travel, and leisure. let's quickly move

kailey leinz in for jon ferro today.ow, gas under four dollars a gallon, there is no one in america who writes a more detailed report across hydrocarbons then stephen short. he is principal of the short group and his report is absolutely definitive. let me go to one sentence of your report. new york harbor has the lowest inventory of hydrocarbons in a decade. why is that? >> it is the lack of refinery capacity. i'm in philadelphia, 13 miles down the road from office. we used to produce enough gasoline each day to provide more than -- that was a key supplier. why is new york harbor so important? we certainly have the ingredients. tom: that is a window, schork is a genius on the details of supply and flow. what you see in your madness about demand? stephen: right now it is to keep lower oil prices. we're looking at demand destruction year-over-year, more than 400,000 barrels lower a-day, 5%. we look at demand relative to seasonal norms, we looking at demand destruction that is nearly 200,000 barrels a day, 2% below normal.

kailey: how do you play this in real-time?you push against big tech or the biggest gainers in the last few trading sessions? victoria: you have to watch those trends. you have a lot of names that have been beaten down so badly. they are doing better now but still in downward trends. we see that in some discretionary names. we see it in some industrial names. you want to be careful and be choosy when you go in there. we still like the hmo and insurance names, signa or metlife. we like consumer stable names. the most recent purchase we have done across large cap strategies is coca-cola. we are focusing on these balance sheets, focusing on debt ratios, on the quality of their earnings. we think this is where you'll find advantage if we have volatility in the fed keeping their foot on the gas. lisa: what about 90% through this earnings season. i did a stock mover that tom called the worst ever because it was not full of really big names. they are these little stories that tell a different story if how strong or weak the economy ha

kailey: of course, it is monday. by the end of this week, we will be talking about the asset report. backup near 50, what are you seeing on the labor pressure side from manufacturers? timothy: great lead in. companies are still hiring. you see a lot of companies are positioning for that, but they are going to trend the general overhead counts in the future. they are not really saying this week or next week. our panels are so high that it is really freezing. we are not in a layout environment at all. still having difficulty, the general headline comments are still indicating that they are still struggling. that is why the production number really hasn't come up. they run the risk of not being able to add to the headcount. guy: we will review that data at this time tomorrow. a quick question for me. manufacturing data outside of the united states are slowing rapidly. we saw in china, the european data as well is also indicating a fairly rapid industrial slowdown. what is the relationship with what is happening in the u

kailey: thank you. head back out west, the fed economic symposium in wyoming kicks off today but the main event is tomorrow. jay powell's speech. joining us from jackson hole is michael mckee way understand the weather is better and the view is still beautiful. what happened between now -- what happens between now and 10:00 a.m. tomorrow when the chairman speaks? michael: after we finished mopping up the rain. this blew down a bunch of trees and other stuff. there's a dinner tonight that kicks off for the host of the meeting, the president of the kansas city fed will give a short speech which is a welcome to jackson hole. then tomorrow morning we get the main event which is the keynote speech, first thing on the agenda from jay powell. after that they get into various papers that are prevented presented, this is an academic conference. the fed chairman speaking here. most of this will be theoretical and they help these guys think about things and long-run but not about policymaking. guy: you would've th

kailey: fair enough.'s talk about growth at home then because there's been somewhat of a renaissance in growth stocks, the nasdaq 100 is up 19% from the lows in mid june, kim. do you buy that rally or is it almost over? kim: well, again, is growth at a reasonable price, a the love the growth stocks with infinite p.e.'s or very close to infinite p.e.'s, i probably stay away just on principle because they're so unknowable. when is that cash flow going to start coming where it would fall into my world? so i would say no but i do thinking we're trying to figure out where the 10-year is going to be and is anything investable, right? once we figure out where the fed is going to land, and every day we get closer to that with loss of good economic data. go ahead. guy: on that point, lbc was saying ditch stocks by cash given the rally we've seen thus far s that a step too far? kim: i think. it always is. cash, unless you actually need it for the next, whatever, 36 months, cash is not something you should be in. th

kailey: he's not coming back, tom. tom: he told me that a couple of days ago, i'm never coming back. thank you for joining us to start off the show this morning. to me it is the partition of david rosenberg, the giant of toronto would say. there's many different parts of inflation that matter. kailey: and we will of course get a read through those different components yesterday. how much does the headline come down because a lower food and gas prices, and how much does everything else proved to be a bit stickier? crossing the terminal just now, the percent of business owners that reported inflation with their single most important problem, 37%, the highest since the fourth quarter of 1979. tom: that is good data that shows the spirit of small business. the separation from big business, i don't know what to make of this. some companies seem to be getting by. this morning, kailey talking about micron and others having. a tough time of it nvidia yesterday -- having a tough time of it. nvidia yesterday. lisa: all of these

kailey, where is the focus, bonds or stocks? kailey: that is a good question. primarily a lot of the action has been in the bond market. you have the equity rally continuing in a fashion it did not on friday, but the bond market has been confounding. 31 basis points on the two can spread. obviously a repricing in the short end on an expectation the fed will move 75 basis points in september. we have a lot of data and then cpi on wednesday. tom: well said. i agree. we are miles away from belief on september and into the november meeting. i will do the data check. i will go to priya misra's number. it is extraordinary. -42 basis points. the call of the summer from the strategist at td securities and that rapid inversion. someone said warp speed inversion. what do you see in the data? kailey: the yield curve most inverted since the year 2000 is remarkable. you are seeing resilience in the equity market. futures positive by 9.5 points. how much can that stick if we are talking about a federal reserve that will be more hawkish in the pivot the equity market has been

kailey: let's get more on pelosi's trip to taiwan.er the assumption that nancy pelosi will travel to taiwan tomorrow, how do you think that's going to go down? >> i think this is an example of speaker pelosi walking the walk. over the last year, the house and senate have passed with huge margins the chips and science built to provide domestic subsidization to the semiconductor industry in the u.s., it's huge for a couple reasons in the house and a key senate race in arizona where a taiwan semiconductor plant is opening a $12 -- $12 billion facility that's under construction right now. i think speaker pelosi feels like she has the backing of the american public. china has signaled that they will use a military response. they have increased their -- over taiwan in the last couple of days. i would expect that to continue. another area for investors to focus on would be the risk of china releasing a few more arrows on the economic front with regards to their unreliable entities list. we have seen china do that in the past during the trade

kailey: greg valliere, agf investments chief u.s. policy strategist, thank you for joining us as we mark this moment in history, house speaker nancy pelosi becoming the first leader of the house to set foot on taiwanese soil in 25 years. you can follow the coverage on bloomberg's blog. we are getting some headlines, the one from xinhua that i mentioned, china saying that the visit is a dangerous act of playing with fire, echoing the language, xi jinping spoke himself to president biden when they spoke a few days ago. nancy pelosi, for her part, is talking about how she is talking with taiwan to focus on reaffirming that her visit to taiwan offers a commitment to vibrant democracy. david westin is here with us. your immediate thought on this moment in history. david: i've been watching her coverage and one thing is nancy pelosi herself. what is her motivation? there is a lot of resistance to her going there. we know two things about nancy pelosi. number one, she is set in her ways of being pro-human rights. this is totally genuine on

kailey: and what a surge it has been. the nasdaq 100 full of big tech stocks that have performed well and seen this remarkable renaissance. it is up four weeks in a row. that is the longest winning streak back to november last year. equity markets rallying at a time the fed would like to see financial conditions tightening, not loosening. where does that leave us? tom: is the bond market as confused as the oil market? lisa: the bond market is following the same logic the oil market is following if you view it from the demand side and you view it from this cooling inflation story. you saw the biggest inflow to investment grade credit back to september 2021 in this past week. people are flooding back to bonds and equities. this is a distillation area story, then moving away from the hawkish tilt story and this is a feeling we can achieve a soft landing. tom: an interesting friday. good guests. we will get to ryan temple in a moment. all i can say is an extraordinary friday to stagger onto jackson hole, beginning to prepare

kailey: i did.athan: if you get to posh school, you play rugby, if you go to a state school, you played football. that is why we had that phrase, were gentlemen's game played by hooligans and hooligans game played by gentlemen? tom: we need your advice, a good amount of people are coming to jackson hole, jonathan ferro outfitted here. we are looking at boots being made. i look at jon ferro and john wayne, but wayne wore the resistol. jonathan: i'm looking at the price, $495. tom: jon, i think this says you and a more urban kind of way. jonathan: do you know what the kids are wearing out? a prada bucket hat. kailey: just by the knock off on amazon. amazon. tom: if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get deci

kailey: thank you.rofit due to surging rates, and in an interview with bloomberg tv, the ceo discussed how the war on ukraine continues to weigh on the supply chain. >> consumer confidence in europe is low. i think it is the slowest it has never been because we have a war on our doorstep, and that does not make people optimistic. secondly, ukraine is a big provider, and so was russia, big provider of truck drivers into european markets, and they are not here anymore. that is why we see some of the conditions we see. it is hard to get out of the ports because of capacity, and congestion in the ports, capacity hopes to keep flight rates very high. kailey: of course, a big marine shipping company, which speaks to the issues the world is facing. he will speak to someone else. chief investment officer, mark manduca, we have been talking about snarls, snags to supply chains for so long now, what is your real read on how much dings have improved? mark: i think there are a lot of things that the largest shippin

. ♪ kailey: sustainability, security, and hunger.is episode of "bloomberg green," we are focusing on food and how we can reduce its carbon footprint and get it to the people who need it. we will explore the near shoring of food production -- >> we're actually reinventing the entire supply chain. we are locating our farms close to the cities that we are actually serving. kailey: the consequences of a lack of food for the poorest in society -- >> right now, at this very moment, we do not have

♪ kailey: record-setting temperatures, deadly forest fires, receding rivers. episode of "bloomberg green," we are focusing on extreme weather. we'll explore the science behind the recent heatwave. >> it is going to get more extreme than it is now. i'm afraid that is inevitable. kailey: the consequences of extreme weather. >> there is overall low awareness that heat kills.

kailey: there are contenders in a heated election battle that will help decide control of the senate for the next two years. wisconsin is one of the five states that will maintain control in the 50-50 senate. tennis star serena williams plans to retire after playing in this month u.s. open. she's 123 grand slam titles and has won almost 100 million dollars in prize money. she wants to have another child into other things. global news, 24 hours a day and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. jon: welcome to bloomberg markets. caroline: a recent conversation we have two day, we are off by 5/10 of 1% with the chipmaker coming out with worse than expected results. money is being pulled out of the front end of the bond market. two-year yields are off by about seven basis points. bitcoin is falling. jon: if we look at the individual movers today, it's got to be a stock specific story. the bio group is looking to hit the finish line. whether it's what we heard from micron which does -- which is down about 5%

tom: kailey leinz, think you so much in new york.here are people, there are signposts along the way. there is research where you stop and say, that was a number of months ago with pre-missouri, truly one of the great cause of 2022, on the dynamics of the yield curve. readjust here off of powell's speech. readjust the dynamic between the short term two year yield and the benchmark 10 year. >> sure, thanks for having me. the front-end is all about near term. i think we got a few clues from powell's comments today. he is acknowledging there could be pain ahead, and that suggests tolerance. he is also talking about being restrictive for quite some time. the idea that the fed will take rates up to terminal and quickly retreat, he is pushing back against that. that front end is still biased higher. we are looking for rates to continue to rise. 3.7 5%, or something in that range. i think the long end is a lot more accurate. i don't think long-term neutral rate is higher. there could be a higher short-term neutral rate, but the long-term neu

. ♪ kailey: record-setting temperatures, deadly forest fires, receding rivers.is episode of "bloomberg green," we are focusing on extreme weather.

♪ kailey: sustainability, security, and hunger. episode of "bloomberg green," we are focusing on food and how we can reduce its carbon footprint and get it to the people who need it. we will explore the near shoring of food production -- beth: we're actually reinventing the entire supply chain. we are locating our farms close to the cities that we

. ♪ kailey: ritika: china is lashing out at a $52 billion program to expend american manufacturing iniconductors. an association says it contains elements that violate the market principles and targets china's on everest to build a chipmaking industry. the legislation prohibits companies from extending production in advanced chips in china. the english football club manchester united may sell a minority stake in the team. apollo global management has expressed interest. jim ratcliff is another name in the early mix. they are calling for a change in ownership do the teams disappointing performance and china made a rare public comment and why it is not showing hollywood block busters. top gun maverick celebrated the u.s. military. that is your latest business flash. alix: let's go to kohl's for a second. they are dealing with margin pressures and weakening demand most of customers have continued to be hurt ford -- by inflation but how long will it last. i think it gets interesting because one part of this is a macro environment. we know margins are under pressure and consumers are stret

ethiopia killed at least 4 people, including 2 children in a surf says a kindergarten was hitting a kailey, the regional capital of t dry. the government denies targeting civilians conflict between the rebels in to guy and the government forces began in late 2020 a. ceasefire was agreed early this year, but the fighting resumed last week, katya as her young reports, an air strike in the capital of ethiopia as t gray region could signal a new phase of renewed fighting local media, say the central government is responsible for the attack in an area control by rebels from the te graham people's liberation front, or t p l f. that to distill calories pony. i mean, i think the s drive kid around noon. a neighbourhood is a residential area, sir. only civilians live here. so the neural alley, the fighting which began earlier this week marks the end of a ceasefire. there was agreed to and march it also derails efforts to negotiate a p still between prime minister abbey augments government and t p l. a fighters. it's important at to have some insight about why this war resumed right now to guy was u

. >> noble laureate in economics speaking with bloomberg's kailey leinz. chair has been suspended as the prime minister determines whether he violated the new charger produced by his allies. that's get the details from our bloomberg editor. what is the latest we know? this is quite an extraordinary situation. >> it's actually not an entirely unexpected situation. he has served eight years since the military coup. but under the constitution that he wrote, it would be the prime minister's norm. so the surprising thing is the court actually took the petition because the constitution and thailand typically cited -- sided with the monetary elite. so, it's not a huge switch because the prime minister -- and one-for-one. he was also the supreme leader and right alongside him when they seized power and is the former chief. it's sort of, if you like, it's leading away from his popularity. >> exactly, let's talk a little bit about that. this is a cohort, the members have been appointed by the military appointed senate. what does it tell us about the type power broke

bring in kailey mcgee-white of the washington examer and these numbers show why we're waiting on a $739olutely. their chances of holding onto any sort of win in november were already pretty dismal, but this poll really does confirm they have lost all of the swing voters, all of the voters in the middle who might have been purr sueded otherwise. persuaded otherwise. if you have 90% of swing and regular voters against you, there's no hope of re-democrats no matter what bill you pass through congress and no matter how much last minute gains biden and the democrats try to push through cheryl: i look at the economy stats and that's how things are going. 75% say dissatisfied in general. it was 24% satisfied but, you know, even that's dropped from may, from 67% and then if you look at the condition of the economy, 81% say the economy is poor. 81%. what do you think that means for all these vulnerable democrats in november who are trying to cling their hopes to this inflation reduction act? >> they're going to have a tough time selling that to voters. i mean, the fact is voters aren't fiscally