>> i am katie greifeld. bloomberg "real yield" starts right now. the treasury selloff resumes as of september gets underway at inflation print before the fed meeting. corporate bond issuance comes back to life. wake me up when september ends. we be in with the big issue. >> the fed is on ice. >> press the pause button. >> unless you have something significant under cpi, i don't think they are going in september. >> the continuation of the draw feels the most likely scenario in terms of inflation. >> what we have seen is basically a strong recovery. >> there is an argument to go stronger and an argument to pause. >> there are cracks forming. >> you would think the economy is on fire. >> we will have to see how the data plays out. >> what will happen be on september. >> you will get waves of inflation for the next two years. >> this is a very complicated time for the fed. >> the fed's job now is much more complicated. katie: joining us now, we have blackrock a's gargi pal chaudhuri and george bory of allspring global. gargi, when you weigh all of the

speaking of nadia lobel, we celebrate katie greifeld here. ces. katie: i don't know what changed in august, maybe just summer training. we will see if the momentum really gets into the meat. i don't know how many people will stick around after 8:35. tom: you will convince them. jeffrey rosenberg will help us get out strong. he will do uninterrupted coverage to give you a brief into september. i want to go to the data check. across equities, bonds and commodities. commodities are front and center. i have $87.89 on brent crude. katie: it has been a pretty incredible move. for a well, it felt like one thing to go. we do have important meetings and decisions out of opec when it comes to extending supply cuts. going to make a big splash. tom: a real tight market and demand has been effervescent. 7:10 wall street time this morning, $88.02 on brent crude. the story from september have some legs. on a currency space, we have a turning dollar. 103.67 earnings why. no one expected this days ago. the euro gives it back to 1.0833 . even on labor day in am

katie: i'm katie greifeld this is bloomberg real yield. it's time for the auction block.ter a chilly start of the week action picked up on a high-grade sales with weekly volume more than $18 billion. september hit 124 billion dollars. citibank pushing numbers higher this week with a $5 billion sale of the fixed floating rate notes. junk borrowers take advantage of strong investor appetite bringing riskier offerings to the leveraged loan markets. one was wedding planning site the not that had a $765 million sale. noble corporation's are buying back bonds at the slowest pace since 2009, likely a sign they are waiting to refinance. the delay could come back to haunt them as maturities pile up and rates stay higher for longer. black rocks amanda lynam says loans are likely the most exposed to economic headwinds. amanda: if you take the three broad buckets of leveraged loans, high-yield bonds, and investment grade bonds, arguably, leveraged loans are in the weakest vulnerable fundamental position because they have been contending with higher borrowing cost of the past several

joining us with more is katie greifeld. what is the fee structure that is different? n the trust started trading, it was the only game in town so they can charge what they wanted. you heard they are committed to lowering fees. how much they are going to need to is a big open question. think of other issuers that have active filings with the sec right now. blackrock, invesco, fidelity. these are well-known asset managers with big low-cost lineups. i spoke with a few analysts for this piece. some predictions range from spot products charging 20 basis points, maybe 75, maybe 50, probably below 100 basis points. the other is 200 basis points. dani: think about the brand power of vanguard and blackrock getting etf assets. even besides the fees, let's say they all get a product at the same time. does grayscale stand a chance? katie: great point. blackrock likes to come into a category and light the fee war right off. first mover advantage is extremely important in etf's. if they were able to convert, maybe it is less important because they have $17 billion of assets under ma

>> i'm katie greifeld. bloomberg real yield starts right now. katie: coming up, the higher for longer message since yield soaring to the highest levels in over a decade and prompts default fears. how high and for how long? >> the rates will be higher for longer. >> higher for longer. >> higher for longer. >> this was a hawkish pause. >> pretty much bracing in the fed scenario. >> a soft landing is more likely. >> they say gdp will still be sluggish. >> there are some real questions that need to be answered. we all have forecasts and most likely, they are all wrong. >> we don't have the fed taking any steps of action until march 2024. >> the fed will cut rates even if the inflation rate doesn't get to 2%. >> 2024i think there is real scope for rate cuts to overwhelm and yields to push much lower. >> the fed needs to be cautious about when they want to cut. >> take the fed message with skepticism. katie: joining us now we have a cohead of u.s. rates strategy at jp morgan and morgan stanley director of research. a few of the conversation has shifted

katie greifeld: here in the u.s. we are looking at a down day in markets.ard data coming in the form of ism services that is taking us and the steam out of the equity market, big tech faring while come off by 1.1%. you see the symbol of continuing when you look at the bond market, 10-year treasury yield's up to basis points, getting closer and closer to the 4-30 level but all of the while you are continuing to see energy continue to rally your

. >> i am katie greifeld. seeing some support when it comes to u.s. equities.n more so. the nasdaq 100 is currently higher by .4%. a quiet day in the bond market. take a look at 10 year treasury yields, they are up one basis point, 4.25%. crude oil, this has been one of the big stories of the week. this continued rise in crude oil, currently trading at just below

katie: i am katie greifeld tick you off to the closing bell in the u.s. two hours ago.n 3/10 of a percent and big tech down 3/10 of a percent. on light volume as we await the fed decision to

katie: i'm katie greifeld kicking you off to the closing bell in the u.s..ed at gains earlier in the session. not seeing them now. the s&p 500 off by .5% snapping a two day winning streak to end of september on a soggy note. the nasdaq 100, big tech slightly better but off by about .2%. relatively quiet in the bond market.

cdw >> i'm katie greifeld. bloomberg real yield starts right now. katie:

company ceo spoke a short time ago with katie greifeld. >> first, we will deal with the product on thet. it is important to understand we operate in a highly complex market structure and already give significant rebates. what made our product go on the list is the gross price. i understand what negotiation means. have a concern it could turn into price-fixing which i think is bad for patience and innovation. it is early to judge what this means. katie: do you plan to engage with the administration and with medicare over that issue? >> yeah. as i understand it, there will be a dialogue over the coming months on how to interpret what the negotiation entails. there are a number of data we need to submit before the negotiation starts. it is important for me to underline our prices declined significantly. the interim price point is deteriorating 20% year-over-year. unfortunately, those rebates are not shared with patients and that leads to the affordability issue. we support anything that helps patients afford their medicine. i think it is also important we use this opportunity to come clea

sonali: welcome to etf iq, i'm sonali basak in per katie greifeld. matt: i'm matt miller.ty of risk off, and not everywhere. where people are taking on risks today. matt: let's look at the more than $10 trillion level etf industry. will speak with the global cohead of ishares fixed

. >> i am katie greifeld. bloomberg "real yield" starts right now. as of september gets underway at inflation print before the fed meeting. corporate bond issuance comes back to life. wake me up when september .

katie: and i'm katie greifeld., china looking to widen an iphone band taking a bite out of apple. a

katie: i am katie greifeld and we are kick you off to the closing bell here and in the u.s.- romaine: a third straight day of the clients for major u.s. equities. you should point out that this is global -- we should point out that this is global in

i am katie greifeld. matt: i am matt miller. that continues into this week. let's get to the biggest stories in the now more than $10 trillion global etf industry. i am talking about the grayscale victory over the sec. when will the u.s. he is first bitcoin etf spots actually launch? will discuss. carol: -- katie: traders boosting their bets after a strong r

katie greifeld is up early watching. we are 4.49%, almost 4.5% on the 10 year yield. the spread gives us distant version. that is an important philosophy. the real yield 2.12% is right where we are. that is an absolute key determinant. i look at dollar strength. we have not broken out to new dollar strength. yen rounded up. what is in the data that gets your attention? lisa: crude. the fact that on wti you are above $90 and there is data over the weekend showing hedge funds are the most bearish -- the most bullish on crude going back to february 2022. tom: do the brief. lisa: you know how you don't like fed speak? there are seven fed speaks this week. this week alone. me apple's fed president neel kashkari at 6:00 p.m. today. tomorrow we have michelle bowman. fed governor lisa cook, chicago fed president austin goolsby. on friday the fed's john williams. whether they lead into this idea that they are done, because it seems like that in the literature, ellen zentner saying they are done. earnings, this is a big deal off mike wilson's comments. retail earnings in partic