i am lisa -- i am kailey leinz.o the -- the yield is up for basis points on the day -- 4 basis points on the day. the rate is at 110.76 at this point. the euro is currently trading at 97.52 to the dollar. we want to go now to rome. maria is there standing by. what is at stake in this election as it looks like the far right will ultimately be the one to claim victory? >> this is the story of a highly anticipated election. the country is now shifting to the right. the italian condo me is that a debt story. you have an election in one of the biggest economies in the euro area having in the context of war -- the war in ukraine. there is a conversation to be had about sanctions and where is the war going? it is funny but on the day like today, you mentioned the u.k.. when you look at the italian right, they want to do tax cuts too. perhaps, a taste of what is to come. the only difference here is the european money -- >> my question is how our markets looking at maloney here? are they looking at her as a far right radical

kailey: i have heard up to $1100. raises the question of who is going to pay to upgrade their iphone if there's is still working. jonathan: does that mean my iphone is magically going to stop working in the next couple of months? you know how this works. all it stops working, you need to know and that you need to go and get a new one -- you need to go and get a new one. i am not suggesting anything the various happens. lisa: is this a prediction? are you saying you want one, or you think you will be forced to have one? jonathan: futures up zero .1% on the s&p 500, on the nasdaq 100. everyone at home is saying it happens to me too. it is magic. lisa: it does not suddenly stop. jonathan: it magically slows down. euro-dollar unchanged, just about hanging on to 99 on euro-dollar. crude, $87.29. lisa: maybe it just feels slower because the others feel so fast when they come out. at 10 :00 a.m., really interested to hear what the bank of canada is going to say. the expectation is for a 50 or 75 basis point rate hike. the ba

kailey: i'm excited by the nfl season finally upon us.ally a view this is an extension of of what you and i do every day. so they can place them usually in the financial markets. and this is just bringing that to sports. we have troves and of historical data that essentially looks at bats over the course of history, and looking at which one historically paid off the most so when you're gearing up for a weekend of games you know what that might want to play. guy: did you understand all of that? alix: there are sports and money on the sports. this is what i'm getting. [laughter] guy: alix steel, massive sports fan. in terms of the market, how big is the sports betting market in the united states. back in the u.k. sports betting has been legal long-standing for quite a while. it's a rapidly developing story. >> and you still haven't seen the most of it. a lot of this had a $57 billion market as of last year. the total dollar amount spent on sports betting. this year that handle for entrance like new york with california and texas coming onli

kailey: you said regulatory.to talk about regulation, especially as we had a number of stories of circulating in the last 48 hours or so, including the new york attorney general, he is accusing a license broker-deal. you have prosecutors freezing assets tied, who they are seeking to arrest. you have ethereum's update which could be triggering tax confusion in the u.k.. we are from the chairman of the federal reserve talking about the need for more crypto oversight. take a listen to what he said. jerome: there's a real need for more appropriate regulation, so that, as defi expands and touches more retail customers and that sort of thing, so that appropriate regulation is in place. kailey: more regulation is needed. you already know that. that is something you have been working on. do you feel like we're getting closer to some kind of real framework or having organized jurisdiction of what the sec controlled separately? >> i do think there has been a lot of progress. i am really excited for industry going forward.

jonathan: kailey leinz -- tom: kailey leinz, thank you.can't be found. the dow is down. we were good three hours ago. lisa: i do want to bring breaking news, roger federer, that tennis champion, saying this season will be his last. he had been writing a memo, a letter to his tennis family and beyond those that on twitter. saying that he has worked hard to return to full competitive form and he knows his bodies capacity at 41 years old, i must recognize when it is time. tom: i remember when he stunned the tennis world, a young thing out of switzerland, beating a guy named sampras. who is that guy? he's been doing it for his entire career. who is this guy? he doesn't win in clay, doesn't do well at the french open. lisa: he broke the mold of big serve and it was the end of tennis. tom: truly it was with pete sampras, who is this guy with his philanthropy. continuing our dialogue here, things are sliding. michael purves is with us. ceo of capital advisors, continuing with julie deal with us as well. michael, i've got to talk about this gloom

. ♪ kailey: a landmark climate bill passes through congress.xpansion of nuclear energy and more investment for companies at the forefront of the fight against climate change. but is it a game changer or letdown?

francine: the pantera capital chief executive speaks to kailey leinz and matt miller.et breaking news out of unicredit read -- unicredit. the former chief executive saying he is expecting a recession on the question is how deep. at the same time, we are getting the german chancellor olaf scholz saying that russia does not want to deliver gas as an excuse. it does not take a lot look at the picture that gazprom posted and wonder what that thinking is and whether this is political retaliation. it is about the yen, a currency we have talked about. stocks are dropping with commodities at the prospect of aggressive monetary tightening as the dollar gains to another record today. the 30 year u.s. yields also around the highest's 2014. the bond selloff races another interest rate hike by the fed to tackle inflation. traders are also bracing for the european central bank edition due tomorrow. we are also watching the u.k. cabinet members that are arriving at downing street. that is it for the european market open. "bloomberg surveillance: early edition" is up next. this is blo

shery: that is joseph speaking exclusively with kailey leinz and sonali basak.heck on the latest is this flash headlines. the trial against a man who they say it was a serial lighter -- liar. the niccolo one model is not even functional when it was unveiled in 2016. it was -- the defense is saying that the prosecution was distorting the facts. he face a five years if convicted. volkswagen has agreed to buy stock, volkswagen has said it is over the evaluation of 70 billion euros. it is looking to finalize a price range and take investor orders early next week. starbucks jumped after boosting the outlook for sales and profit on rapid expansion and the expected recovery in china. it sees earnings rising 15% to 20% in each of the next three fiscal years. sales are a key metric and they are seeing rising 9%. haidi: twitter shareholders have approved the $44 billion buyout paving the way for a pile next month. bloomberg's sarah joins us now. we see training to the base of its own story, a selloff we saw across technology stocks overnight. >> it is really an indication

kailey leinz has more. kailey: yesterday was brutal. tom: brutal.ilders, technology, the big laggards on the day. this morning they are seeing the smallest of rebounds. still very small. the homebuilders turning negative as is the case for retail stocks. obviously, even the gains of today we are seeing for technology does not do much to unwind yesterday. the homebuilders down 7%. retail and apparel down 6%. tech down 5%. crushed, brutal, whatever you want to call it, it has been tough going for the stocks since we saw inflation become elevated in may 2021. for obvious reasons. the homebuilder decline of 21% goes hand-in-hand with the idea if inflation is high, the fed has to raise rates. that means mortgages go higher and housing demand cools. we have seen that in the economic data. for consumer discretionary and tech stocks, that is because those stocks command higher multiples. when you command a higher multiple and rates are rising, that value of earnings going forward that your prices based on is devalued. that is why we are seeing vstoxx coming

when you have violent crime going on in your cities on a kailey basis.just the big cities by the way. this is trickling down into smaller cities and into small towns as well. you are going to vote for the party who believes in holding felons and thugs accountability and not the party that believes in undermining law enforcement and coddling thugs and felons. >> there is a new abc "the washington post" poll that everybody is talking about right now. a lot of good news for republicans in it. one of the stats is that people rely or trust republicans more to handle the crime issues than democrats. but then another portion, tomi, found if the house elections were held today. 47% would choose g.o.p. the republicans. 46 would favor democrats. so, really neck and neck. what do you think that is with all the kitchen table issues that republicans can run on. and does that concern you? >> hey, listen. this is going to be still a challenge for republicans as it always is. because republicans, as we know, conservatives as we know do not control media, do not control

we can talk about the survey right now with kailey leinz. it super bearish, a record 52% of those surveyed were under equity -- are underweight equities and overweight cash. the growth's partitions are browned and a all-time low, 72% expect a weaker economy with most expecting in a recession since may of 2020. typically that level of bearishness is bullish. bank of america says the short-term -- is up. as for the most crowded trades, no surprise once again come along dollar is topping the list, 56% of investors give that answer. that is the most extended position since long u.s. tech in 2020. compare that to just 20%. you also have short treasuries and long growth in there as well. as for the biggest risk, inflation fitting today given the hotter than expected cpi report is number one followed by hawkish national banks. equitable refreshing -- recession moves this month from the number four spot to the number two spot. jonathan: miserable. thank you. that is the angus -- that is the english version for anyone who could not translate that. [l

haidi: a cerium cofounder and ceo speaking exclusively with bloomberg's kailey leinz encz and ali bosticake asian stocks on market. nikkei down 2.8%. reaching that two weeks year and asia. kospi off by 2.5%. pressure when it comes to currency. watching the fluctuations in the yen, which continues to lose data as we have global intervention from the japanese in currency chief. the yield differential is really the key thing when it comes to performance between the yen and the dollar pay there as well. australian stocks down by 2.9%. it's regardless of whether you look at utilities, materials or health care. tech also following the selloff across the nasdaq 100. we had that downside of 5% plus when it comes to tech stocks of the u.s. more than 4% downside for the broader s&p 500. kiwi stocks down by one and about .25%. shery: we were slightly higher earlier in the asian session and have given up all of those gains and really those tech futures leading to decline down 2.1%. even small-cap really feeling the brunt. we have seen the russell 2000 and the new york session seeing it more safe sin

tom: the only one i know in our orbit, kailey leinz. she is so wired.han: is the closest you get to european football in terms of atmosphere. go into a college game in the south. am i right? lisa: come and see. uva is not alabama. jonathan: do we have a uva connection? lisa: a good clarification. from new york, this is bloomberg. ritika: keeping you up-to-date with news from around the world, the justice department is considering whether to appeal a decision regarding documents seized from donald trump home. they argue the former president's request to have a special master would be --. the judge was appointed during the trump administration temporarily block them from using the documents in the criminal investigation. liz truss officially become the uk's next prime minister today. she is announcing plans to aid businesses to lower energy bills. but the bills could cost $200 billion. an energy crisis is getting worse in germany. the government reversed policy moving to keep two weeks of pipelines alive. germany has agreed to export more electricity to f

francine: kailey: it is playing -- francine: it is all playing out in the currency markets.? kristine: like i say, for the euro, if there is one asset that encompasses the challenges the u.k. has, it has to be the pound , because of the spectacular decline we have seen. the beginning of this was kicked off with the leadership challenge of boris johnson and around that time, the pound against the dollar was hovering at 120 and now we are at and 15, the lowest level since 1985. francine: known is going on holiday again. thank you much. coming up, peter chat well -- peter chatwell. liz truss is the new uk prime minister. this is bloomberg. ♪ >> week one of the u.s. open in the books. cocoa golf in the quarters. she is fighting back, taking the last four games before closing it out. she is the youngest american woman to reach the elite eight since 2009. in the men's, medvedev taken out at ash stadium. up next, don't forget tennis channel live airs daily at 9:00 a.m. eastern. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile s