kathleen: it really has been a terrific tournament.s packed, viewership figures out of the park. this will put a lot of weight behind the campaign to get equal prize money for the women's game and tournaments going forward as well. kathleen: women are catching up with men in every regard. in the first three england games, 21% of bats -- bets were from women. i would say ladies, keep going. i am not a huge better, but it gets your excitement up a little bit more. i think he is speechless thinking about betting. coming up, we will talk strategy with the samsonite ceo with the company said to be exploring a second listing in the united states. that is it for daybreak australia. daybreak asia is next. this is bloomberg. ♪ while directing water away from your home or preventing wood rot and foundation decay, giving you peace of mind that your home and family are protected from water damage with the industry's premier maintenance free gutter system, leaf guard is the smartest solution in gutter protection. proudly protecting your home by get

kathleen: welct

kathleen: so let me jump in on japan.se we have had a couple of interesting stories about how japan in terms of equity investors kind of leaving china in the dust this year. is this warranted? how are you viewing the japanese economy now and where it is heading in light of the big policy tweak we just saw from the governor. >> well, japanese equity market has performed this year. we are cautious but of course cyclically speaking you have factors that have underpinned the equity performance including both a wide policy differential with the u.s. that is fueling depreciation and there is a negative correlation between the exchange rate in equities. when the yen is down, equities go up. at the beginning of the year the tokyo exchange forced companies that did not meet certain criteria to do buybacks and that is a one-off factor that triggered upside in the japanese market. the last thing that supported japanese equities is the ai theme. especially certain tech names. so we think that these trends will continue in the second

kathleen: the u.s. is weaponizing trade after president biden signs an executive order limiting investments in some of its companies. let's take a quick look on wall street. it was a down day ahead of the cpi report. nasdaq closing down more than 1.2%. nvidia laid the way but tesla, amazon and apple apple -- also losing ground. there's a big jump in energy stocks. 28% surge in the european lng price was what led that. also help push oil to a 10 month high. after the bell, disney reporting earnings that exceeded the expectations, even a streaming subscriber services slowed down. as for the bond market, the second leg of a quarterly refunding went pretty well. there's a lot of demand out there. 10 year yield falling below 4% in the 20 year, we will hear more about that but it's becoming a red-hot instrument to purchase. you can see we've got the green on the screen after that decline in stocks bouncing back a bit here. we've got the 10 year yields about where close. crude closing above 84 bucks a barrel.

kathleen: and closely regulated.notes that you want to maintain healthy allocations to fixed-income relative to value strategies because you think they will benefit from the current environment in asia. explain what you are looking for. hayden: when you think about value in a price sense, asia is cheap, and particularly the china piece. it is cheap relative to the rest of asia. a lot of the key countries like japan, taiwan and south korea benefit from the ai in the first quarter, so china looks extremely cheap to us. we want to own some bonds, yields are back. if you make a mistake in the yields go higher here, you have quite a buffer. it is hard to get a negative total return now. portfolio construction, a bad idea to own bonds and equities. this year you want to own bonds and equities again. the value trap is not the case. we have supply and stimulus coming through, and on the china side we have government willingness which is done a 180 degree turn to support the market and they have some positive comments around

kathleen, let's look at the u.s. markets today. stocks across the board closed a little bit lower. .2, .3, and i see some green on the screen. perhaps the amazon results, the big gains on e-commerce, the facilities to pick your package up and get out in a day, all of that helping to boost sentiment. the bond story, i have to touch on that because that is a big story. the fact that that 10-year note is now up to 4.18%. it's a double top 4.09% march and july. so we see that pressure from the bond market hitting u.s. stocks. maybe not hitting them so much in asia, dollar index is little change. in terms of the after hours trade for apple and amazon, apple is down, iphone sales sagged. maybe it's because the 15 is coming out at the same price of the 14. that's one of our guests said, you could see a weighing on the stock for today and the after hours trade. amazon, look at that. up more than 9%. it wasn't just the e-commerce part. it was in the sales rising, it was the fact that the cloud is looking so good as well. that's a very impor

kathleen: let's move on to look at the employment report. . what it means for the fed and what it means for the markets. the president and ceo of banyan capital management joins us to is one person put it the jobs report was not strong enough to convince the doves are wrong that the fed should be done with rate hikes or was it weaken enough to convince the hawks more should be done? what do you see for the markets in all of this? >> i think the job reporter was mixed but unemployment fell. 3.5% in july. it is still down. wages were up 4.4%. it is hard to imagine a 2% inflation number when wage inflation is up. the fed has been saying they were looking for a little over a percent unemployment number in the fourth quarter and that does not seem likely based on the night -- the number they came out last week. for me i don't we have seen the last of the rate hikes. i think from a market perspective there is a number of signs there is a weakness to come. i would be cautious and defensive. there is not enough to suggest we have a recession with comi

in fact, kathleen was nominated over a year ago, our kathleen was nominated over a yearago, our own kathleenic situation held up, i think, have been confirmed. she was finally confirmed i think late july, 27july also and so now they are sending her to post. but this is a crisis period in niger and our embassy needs professional, experienced leadership and kathleen represents that. and i think thatis represents that. and i think that is also important for the government to understand, for the nigerians to see we are going to make sure that our mission is the right kinds of people in it. if they are going to have a discussion and then somebody with experience to help be that conduit. {line somebody with experience to help be that conduit.- help be that conduit. one of the first things _ help be that conduit. one of the first things they - help be that conduit. one of the first things they do - help be that conduit. one of the first things they do is i the first things they do is present their credentials to the president, the president in this case is obviously under house arrest and the most

kathleen: one more big picture question.out how the rbnz was to lead the world in rate hikes, quick and aggressive, and even so, even for inflation fighting war -- moyers like you, inflation got out of control. what lessons have been learned from central banks? >> i think the real critical lesson is that the simple capacity of the economy matters as much as monitoring demand, and the supply-side of the global economy shrunk beyond any expectation through covid and then again with the invasion of ukraine. and with our own idiosyncrasies, these have impacted the supply side the economy. we can only influence the demand side. we have to -- so, a lot of our work is how to wait get a handle on this supply capability capacity of the economy to really have the full picture in front of us when we are working out what the excess demand is. kathleen: always good to have you with us, you have such patients for over questions taking so much time. it is very much appreciated. that is the governor of the reserve bank of new zealand. now,

. >> i'm kathleen hays. the top stories this hour, markets struggling for motivation even as a team inflation report builds the case for a fed rate skip. a renewed jump in treasury yields, weighing on sentiment after a week 30 year bond auction. >> alibaba returns to revenue growth across all major divisions defined china's economic worries. but there's nothing new on the plant slip. >> and china's market regulator will meet developers and financiers friday seeking solutions to a worsening property crisis. let's take a quick check on what happened on wall street today. stocks started on a fairly decent rally. the s&p 500 was up more than one person at one point after the july cpi report weight suggest that inflation is going back to its two-year ago level, something the fed could pause, when it comes to rate hikes. but later mary daly said the fed still has work to do, so stocks lost a lot of gain. the s&p barely gained at the close. barely positive. the other thing, look at these bond yields. tenure up to 4

kathleen: alibaba's six way split. whenever i have read it i think that is a lot to do to this company. what is going to happen there? annabelle: so far when you take a look back over the last few months in the six way split, the three ones relate to the logistics, the food delivery and the cloud arms. when it came to the earnings quarter we did not get an update on any of these. the complete blackout that came through is interesting of course but some analysts in the market are saying it is understandable because perhaps it means the management team need more time to wrap their head around what that means. and also to consider in more detail, to quantify the impact it is going to be having. not something to be concerned about too much. the silence that came through. certainly something that was notable. you had seven analysts who raised questions and not a single one relating to the spinoff plan. haidi: what are we expecting when it comes to markets -- we spoke about the potential wrigley tory meeting with the propert

the state department says kathleen fitzgibbon�*s arrival does not mean it accepts the government runre on all of this, i spoke with the former us ambassador to niger, bisa williams. bisa williams, thank you indeed forjoining us this evening. ecowas has activated a standby force ready to invade niger should the military faction continue to hold onto its power and should ecowas deem that that is needed. do you support that use of force? i personally think that that is the most important instrument that ecowas can use as a last resort. they're using the justification for that is the potential for contagion in the region and that is why they have this force on standby. they have used that is the justification as well for closing the borders, shutting off the electricity. are you concerned about that? i think that, rather than say it's the worry about contagion, they also thought it was within the charter that ecowas states had decided to support democratisation in the region, so the imposition of sanctions and the other instruments in their toolbox that they had to use were sort of messa

it is important for kathleen fitzgibbon, who was a career diplomat, to be posted to niger at this timedea that the united states is sending signals. in fact, kathleen was nominated over a year ago, our own domestic situation held up, i think, her being confirmed. she was finally confirmed i think latejuly, 27july or so and so now they are sending her to post. but this is a crisis period in niger and our embassy needs professional, experienced leadership and kathleen represents that. and i think that's also important for the government to understand, for the nigeriens to see that we are going to make sure that our mission has the right kinds of people in it. if they are going to have a discussion and then you need somebody with experience to help be that conduit. one of the first things they do is present their credentials to the president, the president in this case is obviously under house arrest and the most recent us delegation there was denied access to him, what is the sort ofjob that lies ahead, what does that look like for kathleen fitzgibbon? i think the first thing ambassador

but i want to get, kathleen, you to react to this point. and again, this is from the biography of your father in early june, when they learned of king's for a mass march on washington. the kennedys were very anxious. it was clear the kennedys could not stop the march, but they could try to control and co-opted. talk a little. that. that's. i just want to remind you, because charlayne hunter-gault told me this story about how when my father went and gave the speech in georgia, he said the civil rights movement has to work or something to that extent, because it's part of the fight for the cold war. and she said it made her feel so good that they were on the front lines for, the cold war. i think what he must have said sounded better than. what you've described it, or at least he made it sound better than what they were afraid of anyway. justice. so they learned that martin luther king wanted to do the march on washington. they had a choice to fight it or to say, let's work together and the decision was by john kennedy and my father, let's wo

kathleen, does anything stand out to you so far. okay, kathleen, can't hear us okay. no. okay.we're going to work on her mic right now and some audio issues right now. pretty interesting, right? you take a look at what we're hearing from the rbnz forecasting a small chance of another rate hike. we heard from the rbnz before adrian orr coming out to say that, you know what, we're at the end of the tightening cycle, but it does look that inflation remains sticky and there is still more work to be done. let's get back to kathleen hayes for more perspective about kathleen, your take on let's see if she's good on the rbnz's move. i'm sorry. all right. okay. i think we're still having a little bit of issues there. i guarantee you, of course, by the way, for all our viewers who mostly perhaps watches with or with the audio down, you don't see a difference anyway, here we go. let me break a couple of more lines coming through out of the rbnz right now. so i think this is what's key here, right? so we knew that they were going to hold rates for a second straight meeting there was almost

kathleen hayes is here with us. we are talking about bank of americans change of mind coming after a week -- coming a week after the fed sees no recession ahead. kathleen: more and more saying, the labor market that keeps going, jobless claims that keep following -- falling. this is what is making people change their mind and throw in the towel. that is the case of the team at bank of america who have been forecasting a recession. here is what they said in their report today. growth in the economy for the past three quarters has averaged 2.3%. the unemployment rate is near time lows. wage and price pressures are moving in the right direction gradually. we think of a recession as being defined as to quarters of negative gdp growth. the actual definition in the u.s. has four factors. one of them is jobs. that is one of the main things you are looking at. let's look at this adp jobs report. this is the gauge of private job. it came at 324,000. this adp number has a terrible correlation with the size of payroll changes.

kathleen? kathleen: no matter how much the fed's hiking rates now or at least we have seen the lags out there, it would do better for now. the labor market saying the fed may have to do more and that is what the fed july meeting said in that started the selloff in bonds and led to that selloff today, and claims her weekly numbers,. they are not as important as the weekly monthly numbers on jobs that we get first friday of every month, but when you see this was traders and investors are going gee, i thought they were done hiking rates but there signaling the door was open. that was a drop to the lowest nelson supply, so not a big -- lowest now since july, it's big move. we also got jobless claims pointing to a resilient economy, the philadelphia fed manufacturing business activity and decks went from a -10 to a plus 12. not the biggest most important report, however another one that said gee, we thought it was going to weaken and this number shows it is not yet so the bets on the pause are turni

economics and policy editor kathleen hayes there. let's turn to china where the economic recovery is being weighted down by a worsening property slump. pressures are mounting on the pboc to ease monetary policy. july's activity data is due tuesday and likely to show little sign of a rebound in growth. with only moderate expected in industrial output, retail sales, and fixed asset investment. property investment probably continued to shrink amid mere of a possible default. the country suspended trading in nearly a dozen onshore bonds starting monday after announcing it expects a loss of $7.6 billion first half of the year. the country gardens liquidity crunch is adding to concerns about the potential drag the industry will have on growth. shery: credit demand in china has been week. we are seeing the latest data well below economists' forecasts in july raising the risk of prolonged deflationary pressure. new loans fell to a 14 year low missing estimates by more than 50% the expected figure. let's turn to annabelle for more. households

kathleen, why is fitch doing this? the other thing is when you are the reserve currency and you can put as much money as you like basically, is it that big of an issue? kathleen: that is what many people will say, none of the things that they are looking at were a surprise. when this happened in 2011, there was a bit of movement in the markets but it passed pretty quickly. so, we just have to look and say number three among the credit rating agencies, this helps keep them on the map as well. it is true fiscal deterioration. you cannot deny that is what is going on. maybe it is good that someone puts a spotlight on this. the erosion of governance with the issues of the debt ceiling and the back-and-forth, these are the kinds of things when they are talking about the standoffs and last-minute resolutions. maybe this could have someone give a sober look at something that every party wants to blame the other one. both are guilty. janet yellen says she disagrees. it is based on arbitrary and outdated data. she points out th

kathleen: lending numbers. lending is not just how much banks are willing to put out there, it is how much people and businesses want to borrow. when lending falls you think the recovery is not much recovery. we could be in need of more aggressive help then we have gotten so far. overall, the loans came in about 346 million you want -- yuan in july and were expected at 780 billion. we see the new loan figure missed by more than 50% the expected figure. the total aggregate financial shrink is it reflecting a big ball of debt and interest to do that is not being refinanced. that's another critical negative factor for the economy. mortgage lending, given what has happened in the property sector, the government's less than aggressive steps to do something to shore up days. that's another thing we are seeing there. of course, yes, china's government came out. now, saying they want to attract more foreign investment. they are talking about changing taxation for foreign investors, focusing on key areas like, i believe

but a lot of those mortgages are going to roll off to higher rates pretty soon kathleen.there is a concern that there could be a deeper recession on the horizon for new zealand. and throw another thing into the mix for you is going to be in october and an election in mid-october. wow. well, you know, quickly, i just have to say, you know, adrian orr, he is known for giving us little surprises. so i've still got my fingers crossed. maybe we'll get something we don't expect in just an hour from now. paul. all right. and that is it from daybreak. asia markets coverage continues as we look ahead to the start of trade in hong kong, shanghai and shenzhen. bloomberg markets, china open up next. this is bloomberg. my told me wouldn't qualify for the tax refund so called innovation refunds as their team of independent tax attorneys will work with your cpa to determine if your company is eligible. take the first step to see if youa small business. qualifies 76% of 23 and me health customers surveyed reported taking healthier actions. more exercise, eating healthier and simply getti

schaefer, shawn steel, stephen clifford lee, harrison william prescott boyd, sidney catherine powell, kathleen austin latham, scott graham hall, and misty hansen also known as emily misty hayes. every individual charged in the indictment is charged with one count of violating georgia racketeer influenced and corrupt organizations act through participation in a criminal enterprise in fulton county, georgia, and elsewhere, to accomplish the illegal goal of allowing donald j trump to seize the presidential term of office beginning on january 20, 2021. specifically the participants in association took various actions in georgia and elsewhere to block the counting of the vote of the presidential electors who were certified as the winners of georgia's 2020 general elections treated as you examine the indictment you will see acts that are identified as overt acts and those identified as predicate acts, sometimes called acts of racketeering activity. overt acts are not necessarily crime under georgia law in isolation, but are alleged to be acts taken in furtherance of the conspiracy. many occurred in

schaefer, shawn steel, stephen clifford lee, harrison william prescott boyd, sidney catherine powell, kathleen austin latham, scott graham hall, and misty hansen also known as emily misty hayes. every individual charged in the indictment is charged with one count of violating georgia racketeer influenced and corrupt organizations act through participation in a criminal enterprise in fulton county, georgia, and elsewhere, to accomplish the illegal goal of allowing donald j trump to seize the presidential term of office beginning on january 20, 2021. specifically the participants in association took various actions in georgia and elsewhere to block the counting of the vote of the presidential electors who were certified as the winners of georgia's 2020 general elections treated as you examine the indictment you will see acts that are identified as overt acts and those identified as predicate acts, sometimes called acts of racketeering activity. overt acts are not necessarily crime under georgia law in isolation, but are alleged to be acts taken in furtherance of the conspiracy. many occurred in

schaefer, shawn steel, stephen clifford lee, harrison william prescott boyd, sidney catherine powell, kathleen austin latham, scott graham hall, and misty hansen also known as emily misty hayes. every individual charged in the indictment is charged with one count of violating georgia racketeer influenced and corrupt organizations act through participation in a criminal enterprise in fulton county, georgia, and elsewhere, to accomplish the illegal goal of allowing donald j trump to seize the presidential term of office beginning on january 20, 2021. specifically the participants in association took various actions in georgia and elsewhere to block the counting of the vote of the presidential electors who were certified as the winners of georgia's 2020 general elections treated as you examine the indictment you will see acts that are identified as overt acts and those identified as predicate acts, sometimes called acts of racketeering activity. overt acts are not necessarily crime under georgia law in isolation, but are alleged to be acts taken in furtherance of the conspiracy. many occurred in

and the families that are now grieving. >> david: kathleen's church is now paying for her to stay attt hotel in waialae toward two weeks. >> people perished in this. but we have a lot to do to move forward. but we're still grieving. we're sad. i'm sad. but i need to have closure. what happened? i need to feel it, see it for myself. >> it was about 4:00 in the morning. and my daughter woke up, and she said, "mommy, it smells like smoke." >> david: nicole williams, her two children, and mother, monica, staying with friends in kehei. she says she lost communication with her mother for 36 hours. >> we didn't have any communication. but i just found her. walking on the side of the road. when i was driving around, looking for gas. >> david: nicole is fighting to get into temporary housing, but three housing placements have already fallen through. >> i with a lot of -- all of lahaina, that endured what we did, feels failed by the system. >> david: the family's only possession, a rental car to get around while they await word on housing. >> we're just not getting the help that we expected to

kathleen: it is a symposium that is been going since 1970.ver the years, what people of come to look to first and foremost is jay powell's speech. the symposiums starts thursday evening with a symposium and dinner. you can see jay powell along with the new york fed president at the georgia fed president. on friday morning, this is when the fed chair speaks, 10:00 wall street time, it :00 mountain time, and over the years fed chairs have increasingly use that speech to send a message. in fact, sometime around 2010, ben bernanke used it to talk about qe2 not explicitly, but to open the door. it dates back to 1978. it started as an agricultural conference. there are a lot of farmers in the kansas city fed district, and they wanted to make it bigger and they wanted to get paul volcker to attend. they moved it to the beautiful jackson lake lodge outside of jackson wyoming, the grand tetons, a big, wide fishing spot. he used to love to fly fish. jerry corgan love to fly fish too. that is what started putting this on the map, so there is a lot of hi

and kathleen, what do neel kashkari had to say? neel kashkari said that he doesn't think they've done enough to end inflation yet. and of course, he has been in the more hawkish camp for the last year, the last year and a half or so. so maybe this isn't surprising. it's just that so many people are saying the fed is its new debate is how long to keep the rates high, not whether or not it needs to hike more. well, not if you're talking to neel kashkari. he said the fed has made good progress on inflation. the rate is still too high, so rate cuts, well, not yet. and add, don't even think about it. listen to what he said. are we done raising rates? i'm not ready to say that we're done in terms of cutting rates. i think we're a long way away from cutting rates because core inflation is still around 4%. it's still around twice of what our target is. kashkari wants to see convincing evidence that inflation is heading towards 2%. so what kind of number did we get today? as neel kashkari said, this retail sales in the us coming in much str

kathleen hayes is here with the latest.e are seeing a rapid shift. >> a lot of economists are dismissing fitch out of hand. they agree that the u.s. debt version is art and growing. they agree there is physical access, but the u.s. is not on the verge of a default. with a debt feeling resolve, upside surprise on second order growth, the timing seems odd. larry summers, the country's ability to service its debt is not in doubt. paul krugman, he says fitch's move has been ridiculed, it is a story about fitch, it is not about u.s. solvency. former chief advisor of the economy barack obama says, think u.s. is within the aaa zone, small changes should not matter. contrast that to what we got today. bank of america rejects the forecast it has had four months of the u.s. heading for a recession, getting on board saying slim chance. u.s. economy is still in good shape. the main thing that people look at is jobs. let's look at the number on private jobs. we got it today from adp. it shows an outsize gain of 324,000, above the foreca

our global economics and policy editor kathleen hayes is here.important aspect of a report but the point is that things didn't really change much from what was expected and what is going on with japan when it comes to inflation so let's recap the numbers and start with the headline. 3.3% year over year. but we are really looking at here is the next fresh food. that was the turquoise line. it did take down a little bit. in terms of what drove this, boosting the numbers, food, more than a percent year over year. clothing and shoes. japanese people want to get out and do stuff. these are the price increases to be a jet looking for. it is not just things you need. it is about things you want to buy. that is what the real final consumer demand is all about. pulling it off, we saw utilities, medical care -- medical care. all these things. in the end, what changed? not much. it is actually messing this very important factor of things like demand, hotter demand for recreation and he thinks that will keep the be oj on alert, looking for signs that inflati

kathleen hays is here and since she will be there, kathleen, he will speak. it is not always a given, but he is going to this year. kathleen: it is not a given that he will say anything important to markets if they have a big move after he gives this speech but let's put it in perspective because it is a three-day symposium sponsored by the federal reserve bank of kansas city. we see the famous walk, jay powell, john williams, new york fed president, and the former president of the kansas city fed, esther george, walking by reporters and video teams so they can get this famous picture. thursday night, that is u.s. thursday, a dinner, a reception. friday morning, opening the reception -- the symposium. powell speaks and he can say anything. he will welcome everybody. he can talk about the economy. frequently, the fed chair does that. ever since this conference started in 1978 by the kansas city fed, it was an agricultural kind of conference and then it was morphing into a broader monetary policy conference and they could not get paul to attend, the former fed

then kathleen get fits gibbons, the person they'll have to go through to talk to talk about that as we speak to a correspond to just a moment ago. he alluded to the found that there may be some relevance of the military. the didn't quite agree with what's happened over the past few weeks. we could pass expand that and say parts of the public as well in the chateau degree with what's happened on the ground. so while the general say that, that going to be in charge for the next 3 years, what comes in your opinion for any opposition? voice to types of voice that to set and tell me what opposing them will perhaps in this moment in time, be accused of forward in fluid states forwarding fluids, which sort of seems to be the cover to riley and call up the baby by the generals. this hunter is throwing up everything it can possibly hear about because it's obviously not thinking very well, but um, and seeing if it will work. uh they have, profess to want uh to have free freedom of choice if they have, as you said, refreshed any of the pro, buzzing demonstrations. and my understanding is that the

kathleen hicks . dr. hicks: good morning and thank you for the kind introduction. thank you for the invitation. to both of you, thank you for your many years of service and leadership and support for the defense department. before i go on, i want to acknowledge the tragic accident in darwin, australia and express my condolences to the families who lost loved ones. i also want to convey my prayers for those marines who were injured, for their families and caregivers. let me extend my sympathy to the people of hawaii for their deaths of so many in maui for the u.s. defense community, these shocks are a reminder that just as hundreds of personnel have been actively engaging the ongoing response in hawaii, right now as we take respite from heat and humidity, u.s. sailors and marines are through the western pacific along with allies collectively upholding our commitment to the security and stability that enables a free, open, peaceful indo pacific. today as we enjoy this air-conditioned ballroom on bases around the world, u.s. airmen and guardians are on watch ensuring

kathleen hays, thank you so much.ist -- specialist at e spring investments. it's risk off today. overcome the downgrade from fitch, now adp in focus. what is front and center for investors as they selloff today? >> the fact is there is a bit of profit taking. when you look at the markets around the world, they have gone up a bit. the fact is that this is a good opportunity for investors to take money off the table. we are in a high interest rate environment. the cost of capital has gone up. when there is these tidbits that come out, that does prove to be opportunities for investors to reduce some of their exposures in the markets. haslinda: we are seeing yields rise. if they continue to inch higher, that is ban is for stocks as well. -- bad is for stocks as well. >> that is been the case. it has been somewhat negative but the markets have operated different. when you look at most major markets they have done well. the nasdaq is up 30 plus percent. japan, it is up. korea, taiwan, they are up, some of the frontier marke

haidi: kathleen hays there. donald trump has been indicted on federal charges accused of conspiring to overturn the 2020 presidential election results. jack smith spoke shortly after the indictment was unsealed. >> my office will speak a speedy trial -- see a speedy trial. in the meantime i must emphasize that the indictment is only an allegation and that the defendant must be presumed innocent until proven guilty beyond a reasonable doubt in a court of law. haidi: let us bring in jodi schneider. take us through the key points to you through this indictment? >> one of the key point is that it is the third indictment of the former president who is now the front runner for the republican nomination for 2024. that is the backdrop here. he had been charged in new york by the manhattan d.a., on charges related to hush-money payments paid to stormy daniels and i am not disclosing those. he had been charged in florida several months ago in the case involving the classified documents found at his home in mar-a-lago and

host: at and respond, kathleen -- go ahead and respond, kathleen. guest: the important question to ask is what other protections in place to make sure we don't have fraud, abuse and how would we know in the circumstance which someone argues it was there whether or not it did happen? one of the advantages we had in 2020 and not in 2016 were a lot of efforts by secretaries of states to ensure that we had paper ballot backups so that you would have the ability to actually check the records. peaceable -- people who also allege fraud from foreign governments, they don't realize how localized the systems are and the protections are in place. what are the other thing to remember is how do we adjudicate our differences? our court system is designed to do that in the court system has rules about what constitutes evidence and what doesn't and when someone thinks there has been a problem with the election court system is structured to adjudicate those differences. if after 60 court cases, roughly, answer the questions and look at the available evidence offer o

host: at and respond, kathleen -- go ahead and respond, kathleen. guest: the important question to ask is what other protections in place to make sure we don't have fraud, abuse and how would we know in the circumstance which someone argues it was there whether or not it did happen? one of the advantages we had in 2020 and not in 2016 were a lot of efforts by secretaries of states to ensure that we had paper ballot backups so that you would have the ability to actually check the records. peaceable -- people who also allege fraud from foreign governments, they don't realize how localized the systems are and the protections are in place. what are the other thing to remember is how do we adjudicate our differences? our court system is designed to do that in the court system has rules about what constitutes evidence and what doesn't and when someone thinks there has been a problem with the election court system is structured to adjudicate those differences. if after 60 court cases, roughly, answer the questions and look at the available evidence offer o

kathleen hays is here with the latest. what exactly is fitch saying? >> most importantly they are concerned about the growing u.s. budget deficit, in fact, they see it getting higher and higher all the time, up from 3% of gdp up to over 6%, they say the rating downgrade reflects the expected physical deterioration over the next three years, higher going general government debt burden and of course there is more to it than that. they're concerned about the erosion of governance relative to the u.s. aa and aaa rated hearers over the last two decades, they are talking about the debt ceiling standoffs that have led to last-minute resolutions, all kinds of back and forth in congress. you can understand what they are talking about and as sherry mentioned the treasury funding is one of the biggest things when it comes to government bond sales every quarter. the treasury sells through your notes, tenure notes, and 30 year bonds, the numbers have gotten bigger and bigger and i am the even though janet yellen says does she not -- even janet yellen said she does

. >> the homeowner, kathleen eisenhower, said the animal swam up above the dock line to enjoy a nicem snack. after filling up, the manatee returned to deeper water. >> i lived in tampa for two years. i swam with manatees. i listened to them eat grass. it's the cutest sound on the planet. you can hear it through the water. it's just like they also say those two days out of the year where it gets cold in florida, they cuddle together. they do? yes. they go up to crystal river. okay. now to california and a whale that didn't mind putting on a little show, this humpback who has now been named buddy, gave spectators on a boat in monterey an up close encounter. yeah, the friendly whale circled their boat poking out its nose and even spouting water at the watchers discovery whale watch posted the video saying humpback sometimes get curious, but for a whale to get this close to a boat is super rare. >> but they are very social and smart animals as well. so i'm sure it was just kind of it knew what it was doing. yeah. all right. and next up, some opportunistic elephants in south africa. the p

and all signs point to increasing acts of violence. >> kathleen belew associate n professor of history at northwestern, author of "bring the war home the white power movement and paramilitary america." professor belew, i really appreciate you being here tonight, always to talk about a something dark but you always bring some light to the subject. thank you. >> thank you. ou >> we have much more ahead tonight. do stay with us. i gotta wrap this commercial, i think i'm late on my payment. it's okay, the general gives you a break. yeah, we let you pick your own due date. good to know, because this next scene might take a while. for a great low rate, go with the general. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> we got the transcript. oka

looking ahead to that with global economics and policy editor kathleen hays.ng off to wyoming to talk to the central bankers. give us a sense of what is expected. what do investors really want from jay powell? telus a little bit about that. matter. >> it's always interesting to see what investors, analysts, and economists are thinking. the people in our surveys regularly. the big fame would be inflation is hot, but jobs are still hot, too. what do we hear on this front? our mliv survey shows powell can't celebrate yet. 67% say the fed has not yet conquered inflation. when we asked them this question, what will they say? you have 82% saying he will reinforce his hawkish hold. they held the great steady in june. they hiked in july. now we're waiting for september. the vast majority think that is what they will reinforce. there have been some who have said in 2024 -- new york fed president john williams looks at it this way -- if inflation comes down, we can look at rate cuts. something else is look for by 8%. i would put myself in the something else camp, perhap

. >> kathleen hays with more details.estimates for those gdp numbers were about 4.5%. the japanese economy seems to be doing pretty well. kathleen: certainly on the headline. the net exports were strong. this is been the boj's concern that the economy will pick up. if you see the economy being driven by exports and not so much by demand, that is the concern that the governor has been expressing, that they have to see final demand, they have to see consumer spending, they have to see their confidence. that's one of the reasons why the boj is waiting to see how wages continue to do over the rest of this year going into the all-important spring wage negotiations next year, are they strong enough, do they support the idea that not only exports are going to do better, and of course a weak yen, which is been the big story the last several days, that's good for exporters, but in terms of imports, what if the yen weakened so much on the prices of food and energy go up, what if that continues to apply where it doesn't really help

rachel: maybe we should have kathleen call in. pete: a wife phoner? i think we might get that.ght. pete: let's move to -- first it was pizza, new york city again, indicative often of what's coming to your town or neighborhood next. first they tried to regulate pizza ovens, now it's ice cream. a democratic councilman in new york wants to get rid of mr. softee trucks because they mitt too much gas. we were walking around the city yesterday, my son and i, they're everywhere. will: they're great. pete: and they're great on a hot day, as rick just pointed out. but apparently this councilman, they should be electric or sola- rachel: which will cost them $50,000 -- pete: at least $5,000. $5,000 to upcharge, to retrofit your vehicle and something else could put you out of business. rachel: when you're selling them for, what do they cost now? $4? will: joe borelli said this, in the dog days of august it's hard to imagine more of a killjoy than putting a bull's eye on the iconic ice cream man. i give you lincoln wrestler are, that's not the icecaps melting, kids, it's your summertime tea

there's a lot of things that kathleen does for you that you don't even notice she does. she'd notice if i went to fill up the tank. she's, like, where's my car? [laughter] pete: all right. till ahead, iowa farmers sounding the alarm as china buys up u.s. land and valuable seeds. the call to protect our nation's food supply coming up next. will: and and calling all texans, you have the chance to meet joey jones at a signing of his latest book, "unbroken bonds of battle." he'll be in grapevine, texas, tonight, tomorrow in katie, texas, and tuesday at a barnes & noble in austin. check it out, joey jones. >> woman: why did we choose safelite? we were loading our suv when... crack! safelite came right to us, and we could see exactly when they'd arrive with a replacement we could trust. that's service the way we want it. >> singers: ♪ safelite repair, safelite replace. ♪ with chase freedom unlimited, you can cashback 3% on dining including take-out. cashback on flapjacks, baby backs, or the tacos at the taco shack. nah, i'm working on my six pack. well, good luck with that. ea