on the federal reserve decision and a bonus round with kailey leinz.cz decided to skip a day -- skip fed day. she enjoyed yesterday so much with the market down, she thought she would take today off with equity futures down. good morning, this is bloomberg. ♪ ritika: i am ritika gupta. new data shows a booster does of johnson & johnson booster shot provided 100% protection on severe disease to month after the first shot. the j&j vaccine is given in one shot does unlike the two shot inoculation of other vaccines. in canada, justin trudeau faces the prospect of another fragmented power meant -- parliament. his liberal party fell short of the majority he was seeking, meaning he will rely on more parties to do his left-leaning agenda. house are taking a risky showdown with republicans. it will include a suspension of the debt ceiling and spending bill needing to keep the government open past the end of the month. republicans have said they will not vote to raise the debt limit. all of this could be leading towards a government shutdown at the end of the mo

with lisa abramowicz and kailey leinz, i am jonathan ferro. keene will be back with us on thursday. in new york, this is bloomberg. ritika: president biden meets -- needs democrats in congress to give him a boost on his economic agenda. there are any chances of that happening anytime soon. progressives and moderates are at odds over the size of the spending package. meanwhile, a tobacco over raising the debt limit. it is one of the most contentious issues. the yuko -- the u.k. has extended trade periods. british officials want the eu to rewrite a part of the deal that keeps norman island in the block area. the biden administration has approved financial aid for areas of new york and new jersey devastated by flooding. the remnants of hurricane ida caused tens of millions of dollars in damages to public infrastructure and property in the region. more than 40 people died in the storms and more than 1000 homes were damaged. bitcoin faces the biggest yet in its industry. el salvador becoming the first country to adopt it as legal tender. about $20

we had kailey leinz. lisa, let's start with the price action, a new cap is set up for -- north of 140. the market is breaking down a little bit this friday morning. lisa: this is taking hold with the idea of higher stocks, we do see the territories and this is notable after so many boring sessions. . jonathan: a sign of resiliency or complacency? lisa: that the key question. it's not been disruptive to the idea of a stronger equity lift. but it's coming from all parts of the global bond market. there is a shift to a more hawkish tone, globally. this will have ramifications, and that's when i'm watching. jonathan: we have a ton to get through. kailey leinz, bitcoin is down by 5%, china saying no. kailey: the pboc saying that all crypto transactions are illegal. this seems to be an extension of the pre-existing crackdown on crypto that china has been undergoing for years. the question raised is what exactly defines a transaction? depending on how you define that, that is what will tell us whether this is a

i'm kailey leinz. chairman jerome powell opening of a review of investment rules for fed policymakers as accountability comes under fire in the week of trading activity revelations for eric rosengren and robert kaplan. with us is international economics and policy correspondent michael mckee. both have taken what you may have called corrective action, pledging to sell everything by september 30, but are you surprised by this move? mike: not at all. the ethics rules that they had allowed these loopholes. presidents and vice presidents are in theory subject to the same rules as the board. they allow to something that was not illegal but didn't look very good. one would expect them to tighten that up. kailey: technically, they follow the rules, but they -- we are in an unprecedented time of monetary policy, so should the rules change to go along with that? mike: they will change the rules and make it tighter, maybe ban trading, and i suppose could go as far as blind trusts. they will take this out of the

the fed decides with tom keene, jonathan ferro and kailey leinz.loomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.

kailey leinz, it is illegal to transact in crypto in china, that's the headline.at as you will. is that mean you cannot trade it? is this just an extension of what china has been doing crafting down on mining steadily over the last several years, or is this something else and is the timing something we should pay attention to? jonathan: joanna ossinger leads our coverage on cryptocurrency in asia. what's happening? joanna: china has put out another statement saying cryptocurrency transactions are illegal, but the question is, what does this actually mean? it doesn't look like they are actually making crypto illegal in the way illegal is for instance. china has done these before but have not necessarily had a complete widespread effect. we will have to see. definitely, cryptocurrencies are rattled. lisa: what's the motivation of the regulators in china? joanna: it is always hard to tell. they could be looking at systemic issues to say, looking at ever grand and there could be issues. there are concerns about retail investors getting hurt, but they have been steadil

kailey leinz is in for lisa abramowicz. we said good morning to all. this is about what will be set at the press conference, or will it be about what will be left? jonathan: we won't hear anything on china, i think it's too early to drop illusions. we won't hear much on the history of the future. we will hear questions on what has been happening with the federal reserve and fed precedents -- presidents, and investment decisions. as you pointed out, it will be difficult for this chairman to say anything substantial today before we get through the process of working out what's gone wrong. tom: not only in policy investment, but on our fiscal policy. what is so different from the last fed meeting is that we have dovetailed into a president with plunging poll ratings and a president with a true fiscal mess on his hand. jonathan: do we get 2.5 trillion? tom: we have to be below that. jonathan: it's hard to come up with a forecast, the range of outcomes is wide. what does that mean for policy? they could say we are outcome based. we could pay you the range o

lisa abramowicz, kailey leinz -- "bloomberg surveillance," stating the obvious. unchanged in the s&p 500, yields are higher by four basis points. that was my best tom keene impression. lisa: you are really filling the role. jonathan: from new york city, radio, and tv, this is bloomberg. ♪ ritika: there was a big jump to a record $294 billion. global demand from the u.s. and europe, retailers brought forward their christmas shopping. boris johnson long risk a major fight -- will risk a major fight with his conservative party to reform social care and is likely to confirm plans for a tax increase, despite lands not to do so. in germany, the national election is less than three weeks away and support for angela merkel's conservative bloc has fallen to a record low level of 19%. she is leading off and the bogus dog -- in the bundestag. u.s. attorney general merrick garland is promising to protect women in texas seeking abortion. one of the most restrictive laws in the nation as the supreme court declined to block the law, which bans abortion more than six weeks into

alongside tom keene and kailey leinz, i'm jonathan ferro. the s&p up 0.7%.bond market, yields higher by a basis point to 1.32 26%. it's the headline we have been waiting for and largely expecting. ever grand did miss payments monday to at least two banks. it is on thursday and through the end of this week, whether the solution was the plan. kailey: thursday is really going to be key, and if we get any beijing action, do they take any steps to directly intervene? it will be very interesting to see what we see from the policy response over the next 48 hours. jonathan: tom, i know you've got an important conversation in greenwich, connecticut. wanted to bring you this story. tom: it is the greenwich economic forum, and it is about your image of connecticut. it is a connecticut that mirrors this nation. the income disparities in this state are extraordinary. ned lamont's governor, steering the state forward. we have a conversation now on the inequalities of this state. you had the courage as a fancy guy growing up, you went down to bridgeport and taught. what we

alongside tom keene, i am jonathan ferro together with kailey leinz. s&p futures up 26.lds higher by about a basis point. as can he and i have talked about this morning, where you were on the last friday of august when you heard from chairman powell at that jackson hole meeting, we have not moved since then. tom: i use as a proxy to fix. rounded up to 23. getting over 20 is a big deal, but we are nowhere near 20 five fourth 30. jonathan: looking forward to talking about airlines this morning after the decision to reopen travel you wonder if we can get -- if we can actually refuel. tom: the guidance on airlines is a movable feast. where also plugged -- all plugged into google flights trying to figure it out. it really plays up the idea of how quickly they will come back. there is a real optimism that planes will be loaded. jonathan: guy johnson is going to have an important interview with airbus. i would love to see how much more loaded planes are given the books we've seen. tom: greg vale yet nailed this this morning. annmarie hordern is going to give us perspective. ann

tom keene, kailey leinz and myself, lisa back with us tomorrow. she skipped the fed.t's that about? coming up later, the world bank president, from new york, this is bloomberg. ♪ >> european central bank will discuss boosting once the pandemic era emergency stimulus ends. any increases uncertain. while the euro area covering should allow the ecb to end its pandemic bond buying program in march, they are said to discuss how to avoid -- when the support is pulled back. president xi jinping told the u.n. general assembly his country plan to stop building coal-fired power plants. the latest statement came after president biden announced a plan to double financial aid to poor nations so those countries could switch to cleaner energy. declining confidence with growing concern it is driven by politics. the marquette university poll found nationwide approval was down. the poll shows 39% view the court is deciding cases mainly on politics. disney ceo is warning streaming growth will be slowed. production delays are also dragging and slowing disney plus subscriptions in india a

in terms of individual sectors, leonardo, that company friday, kailey leinz and i talked to the ceo andlked about the business in the state and gave more details and a positive update. markets responded quite well to the comments he made to kailey and me and as a result leonardo has gone up 2.3%. eqt is europe's largest listed private equity company. nor do you out with a note -- nordia at with a note saying the market got overexcited and it is not the stock down. eqt down 3.6%. lvmh, the biggest luxury stock in europe bouncing back, up 2.11%. that is a key driver of the french equity market. european should also be paying attention to what happens later on this week. the ecb is holding the september policy meeting. inflation, we have seen some print -- we have seen strong prints. we spoke to a number of key leaders over the weekend at the forum. policymakers out that meeting down praying -- policymakers at the meeting downplaying their view of inflation. >> i do not think it should come as any surprise there is a spike in inflation. >> we are not concerned by the current level of infla

alongside lisa abramowicz and kailey leinz i'm jonathan ferro. tom keene back in a couple of days.ically unchanged. into the bond market with yields higher and the curve steeper. 1.3664. a little bit of feedback from the audience. "interesting how fero disappears and tom is at work and tom disappears and fero is at work. could it be they are one in the same person?" maybe i just play split personality and run into the other room. we should say or what kailey said -- we should share what kailey said. kailey: i have no idea what you're talking about. jonathan: a different kind of fit. lisa: you're trying to throw us under the bus. jonathan: crew down to $68. moving on. i'm not getting you in trouble. megan greene joins us. it is been a while but the story has not changed. the only thing i can think of that has changed is we are all waiting for september and that seems to be we are waiting for 2020 to. what is your take? megan: the big question remains whether there is going to be inflation. that question has not been remotely answered. there are data points on both sides of the story

guy: kailey lines will be here -- kailey leinz will be here. didn't you take last payrolls day off?ness, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. >> from the world of politics to the world of business, this is "balance of po

kailey leinz said it is quadruple witching day for markets. the second-biggest ever trading day for single stock contracts. it is supposed to be a tremendous day. does it matter the direction of price? it is debatable. at 10:00 a.m., university of michigan survey comes out. this metric is the one year expectation by consumers, it has been going up dramatically. the previous reading was the highest since 2008. how much does that climb? how much does the three to five year projection and the 10 year projection increase? the sad, frankly, is having a hard time. -- the fed, frankly, is having a hard time. tom: i have not done this study. this is a serious question. the sum of the balance sheet of the fed. i have not done that work recently. jon: it will stay that way for a long time. let's get to our first guest, marvin barth. let's start right here. a headline for moments ago from the ecb, the inflation outlook is about to be higher. from where you are sitting, talk about the market for us. marvin: good morning. this is a problem that all central

alongside kailey leinz and tom keene, and jonathan ferro. lisa will be back with us tomorrow. market advancing 0.7 5%. yields a little but higher by a basis point to 1.3226%. it is not much of a release? ? bounce, is it -- a relief bounce, is it? tom: is this one massive by the debt -- massive buy the dip? jonathan: i have no idea what to call it. tom: a bumpy ride for the next few months. right now, she gave us so much perspective on afghanistan, looking west to iran. i sent a beschloss -- afsaneh beschloss of rock creek joins us now. thank you so much for joining us. there is a nostalgia right now of moving from the chaos of the powell fed, making it up as we go, back to the cadence of arthur burns, of alan greenspan. can we go back? and if not, how do we move forward out of this crisis? afsaneh: what is really interesting is i don't think it has been so chaotic get the fed has been giving us a pretty good indication of where it has been and where it is going. obviously the times of the pandemic, which killed more than even in 1918, is something the federal reserve with alan

rishaad: world bank's president speaking with tom keene and and kailey leinz. more on the vaccination battle coming up with the u.s. fda approving booster shots for at risk, as many countries struggle with vaccine access. this is bloomberg. yvonne: let's bring you up to speed on some of the top vaccine stories. president biden once wealthy nations to donate more covert shots and deliver them to poorer countries faster. speaking at a white house summit, he announced the u.s. will buy 500 million vaccines to send abroad. this push is a totally u.s. pledge above 1.1 billion doses. the fda authorize the third booster dose of the pfizer biontech vaccine for asterisk -- at risk groups and those with high risk of severe illness, allowing a single dose on the six month after the original shots. clover says late stage trials prevent 79% of deltek cases. the first vaccine from china to offer clear efficacy data against the variant. it also shows it prevents 67% of cases of any severity caused by any strain. rishaad: let's go to nancy baxter. professor, thank you for join

kailey leinz reads everything and she brought me an essay and dominic wilson is dead on as the uncertainty goes up, everybody gets narrow on their calls. jonathan: the range of outcomes is wide. lisa: and the idea, is the cure for inflation more inflation and will become a self-limiting cycle and taking it away from the fed's and ecb's hands? jonathan: afford a losing streak on the s&p 400 -- a four-day losing streak on the s&p 400. from new york city, this is bloomberg. ♪ ritika: in japan, and a party election later this month, he wants to create a country where no one is left behind. the leader in parliament is sure to become prime minister. more frustration over cabinet level talks with china. president dina asked president -- president biden asked xi jinping to cooperate. it was their first conversation since february. president biden ordering coronavirus vaccines for millions of people. the president offered millions of health care workers and federal -- ordered minds of health care workers and federal employees to get vaccinated. the u.s. justice department wants to put a stop to res

alongside lisa abramowicz and kailey leinz, i'm jonathan ferro. of price action creeping downward in the equity market. done more than a 10th of 1% on the s&p. the same move on euro-dollar. down a little bit more, a 10th of 1%. a weaker euro. yields come in three basis points. erasing some of the move sprayed the move higher over the last couple of days. let's talk about the china story. mr. dalio in a bloomberg radar event saying it's a part of the world will neglect not only because of the opportunity provides but you lose the excitement if you're not there. damien, there's been some excitement in china that's for sure. let's talk about with happening in credit. >> we have to focus on the largest property manager in terms of debt outstanding in china and effectively downgraded to double see which puts it into almost default. you 13 million in cash on hand, -- have 13 million in cash on hand. they will be spending interest payments on bank loans that are due on the 21st of this month. effectively the default is in the works and that's not a good

jonathan: do like this line from kailey leinz? ages 45 are more likely to freak out and up their portfolio during a downturn. lisa: is a great story. jonathan: do take that personally, tom? tom: we are freaking out. go to cash. jonathan: coming up, a lady who thinks you should not get a cash. anna han of wells fargo. catching up with anna in about 20 minutes. from new york city, this is bloomberg. ritika: with the first word news, i'm ritika gupta. senate republicans have blocked a bill that was a spent the debt ceiling until september 2022 and would've kept the government operating past the end of the fiscal year. that increases the pressure on democrats to find a way to raise the debt ceiling and avert a crippling default. they may now have to use a budget procedure that could take two wakes. european nations dominate the covid resilience tracking. ireland is at the top of the survey. norway fell to 10th. ireland has been moving up since the start of 2021 when it had the worst outbreak in the world. the delta variant has left th