ends monday. >>> jimmy keene's five months of hell.e months making nice to a killer he despised, had finally paid off. hall had described, in gruesome detail, how he murdered jessi roach. >> i opened that door, and he's feeling that he can trust me enough now. >> but jimmy felt he needed to wait a bit before going for the goal line. >> i had to slowly keep prodding because i didn't want him to think i was piling on. >> so he carefully plotted his next move. days later, he thought the time was right. he tried that hometown newspaper employ again. >> i said, you know, the newspapers say that you killed this girl from the college over here. i says, you know, what happened there? >> jimmy couldn't be sure how hall would react. had he been too blunt? too direct? no, it was all clicking. according to jimmy, hall began to open up about tricia and said he drove his van right up to her, that day he saw her outside school. >> he said that he tried to kiss her. and when he did, that she started fighting, very violently. and he said she was a very

much what you have to earn from keene was grown on the hillside for it to pay off. they'd have to pay us a lot more for our production costs to be covered. plus we need to feed our families. because you know when you've got a woman things in the oven in the middle question. the development of the price fixing what and bolivia looks like a roller coaster ride in 2014 it peaked at just over $3000.00 a tonne but only 3 years later it plummeted to a lower value than before the game began. you could think you see. the expansion of kenya farming on the plains can also lead to major fluctuations in its price. and the whole farmer suffer because they can't compete and don't get paid more despite the additional effort involved in working on the hillsides. among. the farming is sustainable with high quality yields but this way of working the land is at risk of dying out european consumers are relatively unaware of the pharmacy problems while the super food selections in the supermarkets keeps on growing between 20142016 the turnover generated by super foods in germany rose fr

we must produce the keen while with this it's like fertilizer. this is the same time it's food for llamas right now this is a living. and that's the best thing for the cane walk we just have to take all these would be bits and sprinkle them on the field when we sow we should try that. as we need to produce everything biomass fertilizer on the piece of land itself then it's sustainable at the same time we also have to reforest. people are quite skeptical but that's always the case or something new back people are listening. to this bus a place like this makes me optimistic that something can be done with some of the most modern code. in the small town of salinas preparations are underway for a market fish with a regional king or pharmacy will be able to present it when it's all the towns in the surrounding area are represented in the showcase of the food that is so vital for the region. you often notice wants to speak to the exhibitors many export their crops to europe and most produce according to organic standards. they have good on the surface

tom keene: what will change? is people in europe set up and the city sets up to return what is left of the city, as they return, what is the thing you are looking out for? what are you trying to observe into september and october? tom kinmonth: essentially default have been moved into next year. the coronavirus impact has been pushed forward and we are not that optimistic on inflation. countries over 50%. we will not get some of those heavy wage pressure dynamics on inflation. next year, we will see unemployment rise and be caught in these low inflation and deflationary scenarios. we are not too optimistic, g4, we expect a double-dip recession. bank of england will still be there providing support. it is similar to what we see in japan, despite huge government spending, it is not always a bad story. modelene: can they negative interest rates in the united kingdom? tom kinmonth: that is a good question. it is not negative at the moment. it is a different mindset in europe. in europe, the ecb is trying to help ever

" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: for our audience worldwide, good morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. claims data 90 minutes away. this equity market breaking down a little bit. tom: claims data today, and the market is really out front. we will do a data check here, but there is no question yields have come in. i am going to use the phrase abrupt. there is an abrupt lower yield structure this morning. jonathan: equity futures down nine on the s&p 500. the long end of the treasury curve outperforming. a flatter curve. the data at 8:30 eastern. lisa: we are looking for jobless claims, as well as continuing claims out of the united states. people are expecting slight improvement in the absolute numbers, but it is not just the numbers. it is the type of job losses, more permanent, less temporary. didn't get numbers from uber and tripadvisor. i find this interesting after hilton posted a loss this morning. also this morning, president trump in ohio speaking about

the question of this morning in the keene household, in early september, tom keene has arranged for a day off. $29.99 on spending mulan?" tom: we celebrated the disney release last night by 2."atching "frozen not as good as the first one. jonathan: i saw the big news up front early this morning. the trading week does begin on a wednesday. the data coming out later. --ims tomorrow, pays roles claims tomorrow, payrolls friday. to a now is jason draho, ubs head of technical asset allocation. positionedare marryin remain to the upside? jason: big tech companies certainly got the headlines across the board. the what is notable is guidance for q3 has actually gone up 3%. the overall earnings outlook is showing pretty solid improvement. markets are looking through the weakness we had an second quarter, probably priced more for 2021 earnings. that is a positive. data,e seen some mixed recently concerns about slowing growth in the u.s. because of increasing virus case counts. but the virus curve is flattening, and we are seeing some signs of mobility pickup and some of those states. markets ar

alongside tom keene and lisa abramowicz, i'm jonathan ferro. of pressure signs reaching lawmakers down in washington, d.c. tom: right on cue. it is on schedule, three days into the ballet. many people looking out to the jobs report this friday as being the real catalyst for a discussion. the president inpatient. jonathan: and the texas republican senator inpatient as well. "i can't see how we can go home failed."people we they will all have to go home at the end of the week and tell people they failed. lisa: and there is pressure from president trump that if you don't do it, he will go at it unilaterally. you have to think that he is adding to pressure to passing this through for republicans. also today, what am looking at, to the clock a.m., u.s. durable goods and factory orders. gauge was the strongest since september 2018. aftermarket today, disney reports earnings, expected to have a lost. but everyone looking at disney plus, what kind of traction they are getting their earnings. did you get disney plus just to watch "hamilton?" jonathan: o

jonathan ferro, lisa abramowicz, and tom keene. it is a simulcast, bloomberg radio and bloomberg television across this nation. it is not a usual august. it is highly unusual, different from 1998. certainly some of these trends are draw dropping -- are jaw-dropping. bonds participate. it is decidedly risk on. lisa: although you have to say, when you got a 10 year yield below 1%, to say it is a decidedly different tone with yields going up indicates just where we are in this cycle. i will say, also important to note that is yields rise, bond prices down, you are seeing real yields remain deeply negative. tom: deeply negative and plunging right now. -1.00s the right word, at and now at -1.03 on the u.s. ten-year. that is a really extraordinary drop. saw,own near the lows we but this will be a huge theme. what will you listen for from chairman powell on thursday? lisa: basically, how much they are going to keep yields low and how much they perceive themselves looking at the reality of the economy today. i really think it is important

tom keene, it's got to happen quickly.use is a test if it takes you that long to get a result? tom: we will continue to talk to these leaders on this. dr. quick is clearly a leader on history and the dynamic. jonathan: we talked about the smooth in the equity market. tom talking about the weakness in the turkish lira spreading to the south african rand. from new york city this morning, good monday morning. this is bloomberg. ♪ >> i have never heard officials begged for fiscal policy the way they are now. >> i think we are starting a new economic recovery. >> are we headed towards a cliff? >> we are in the midst of a policy mistake. >> undoubtedly, this is a resilient economy but resilience works both ways. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning. lisa is off today. an extraordinary monday in the oddest of

tom: tom keene in new york. good morning.find interesting is the this guy.of how alone is he, and how does mr. putin adapt and adjust to his loneliness? lukashenko has one main ally, and that is russia. he has failed to build up alliances in europe, or chosen not to. drawn censureve and sanctions at times from the of. and europe, so in terms who can he turn to, it is russia. so what is the determinant or this guy to keep him out ring somebody in? what is the single factor that matters to mr. putin? the main buffer still standing, one of the last serving republicans that stands between russia and the european union and nato, belarus. that -- thate few said, lukashenko has also turned against russia at times. cantankerous, and very fierce about independence from russia, and has accused russia of meddling. earlier this year he was turning against russia in the run-up to the election before he -- he has told russia that if russia doesn't support him right now, then european forces could charge through and end up attacking russia.

alongside tom keene and lisa abramowicz, i'm jonathan ferro.tty futures drifting higher on the s&p 500. in the bond market, yields up to .54%. equity futures up 17. in the fx market, euro-dollar 1.1876. up .6%. in just a moment we will get you headlines. we wanted to start with the data. michael mckee with us. typically we can get used to missing a payrolls number by 50,000, maybe even 100,000, perhaps 33,000. 1,033,000 post covid, is this something we have to get used to? michael: it will probably be that way for the last couple of months because this is so unprecedented. it is hard to put anything into your models. the numbers are no surprise. jobs,mes out at 167,000 the forecast was 1.2 million. we had seen it applied in the number of jobs according to the census bureau in their household survey they have been taking, and we also saw the rise in jobless claims. i don't think people in wall street are shocked. it'll be interesting to see if today's number, because it is adp rather than the government, has any effect on the negotiations in was

those vacation days are racking up for tom keene. on the bond market, treasury yields higher by three basis points on the 10 year to 0.67%. in foreign exchange, the euro $1.1770, up 0.25%. 0.7%e s&p, we are positive . good morning. heard on bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ritika: with the first word news, i'm ritika gupta. china wants to discuss tiktok and we chat at upcoming trade talks with the u.s.. the chinese will bring up president trump's perspective trump's president perspective bans. joe biden is counting on, harris'-- on kamala harris' ties to the progressive community. he made history by selecting the california senator as a running mate, the first black woman and the first asian-american on a major party ticket. tycoon jimg, media eli has been released from jail, the most prominent figure detained yet under hong kong's sweeping national security law. daily"spaper "the apple is critical to china's communist party. the british economy suffered more than any major european nation duri

alongside tom keene and lisa abramowicz, i'm jonathan ferro. counting down to a payrolls report, the most unpredictable jobs report in quite a while. tom: no question about it. what i would focus on is the conservative economists are on the same page as the liberal economists. washington, do something, and do something on this august 7. jonathan: 1% away from all-time highs on the s&p 500 coming into this one. equity futures off by 0.4%. the data 90 minutes away. lisa: we are getting the u.s. july jobs report. this is backward looking, and only goes back to the first half before the virus started to re-shutter businesses. how much urgency is there for negotiations about the fiscal second round of support? i hear someone will be speaking on bloomberg television, national akamai council director larry kudlow, speaking with some guy that is on at that point. tom: oh really? jonathan: thank you for the promo. [laughter] lisa: then tomorrow, berkshire hathaway reporting earnings. really interesting to see what they are going to do with their $137 bi

i'm tom keene in new york.he powell speech, the republican national convention, this horrific hurricane in louisiana. thank you to brian sullivan and thank you to rob and carolyn for their very careful coverage of the storm just below shreveport right now. right now, we turn to the markets and it is easy to do with been lately or who has been absolutely lights out on the bold nature -- bold nature -- bull nature of this market. ben, reaffirmed the level of bullishness that you are right now because you can get very nuanced in your research note. ben: listen, i think all the risks remain to the upside. and i think this market is much better supported than some people think. it has been shocking how resilient activity has been throughout this recovery. i think the catholics that are a level of lockdown restrictions still remain very high. that winding trade begins to restart from here. we are reaching that moment where we will get definitive vaccine news. and i think those are all the upside catholics -- upsides.

guy johnson tom keene.ow to help us through the hour and into the next hour, adam jones -- adam posen joins us. aboutot really say enough dr. posen. his knowledge in cultural perspective on the continent of europe is a first-order condition in america. guy, why don't you bring in dr. posen. guy: we had a solid survey this morning, germany seemed pretty positive going forward from here. that cost a lot of people -- this horrible number coming out of the u.k. in terms of unemployment. three quarters of a million people have lost their jobs between march and july. the number likely to grow. adam, let's bring you in on the first thought about what is happening here in the united kingdom. can the chancellor afford to in the furlough schemes? afford to stop supporting this economy? , he could and afforded the same way that george osborne could afford austerity. you can make a very costly mistake and you not eminently thrown out of office, but -- immediately thrown out of office, but interest rates have not gone u

london, lacqua in ne tom keene in new york.e conversations to get you started on that back to school, back to work september feeling. you can always do that with nouriel roubini of new york university. of course, we have known him for years, and his prescient view has been wonderful, particularly his old worldview, what he brings from his heritage. and of course from his education in italy, over to america, has been absolutely -- nouriel roubini, i want you to take an old world study of how america is struggling to do income replacement. it is understood in germany, it is understood in the continent. it is understood in the united kingdom. america is struggling so hard with aid, with stimulus, and with the idea simply of replacing income. why is that? nouriel: well, historically people are criticizing the european labor markets for being more rigid and not as flexible as the u.s. but during this crisis, the european system has worked much better because instead of firing people, the system where workers aty on the job suggests

we're not keen on power but we are keen on the stability of the country which will allow us to organize general elections within a reasonable time and this will allow mali to equip itself with strong institutions capable of handling our daily lives and restore the confidence. between the governing and the government. really. leading up to the putsch mali has been gripped by months of anti-government protests with many accusing cait us administration of corruption and incompetence especially when it came to preventing a jihad this insurgency from the north while the president's resignation was celebrated by those in the streets the takeover was roundly condemned by the international community eko was the west african regional bloc pledged to close land and able orders to mali as a result. this might feel like a deja vu for some and military coup was launched from the very same army base in 2012 toppling that then president and sending the country into a period of chaos this time around the people of mali will be hoping for a smoother transition of power but it is still unclear just who t

i am tom keene. anna edwards is in for francine lacqua. we appreciate your long day here in "bloomberg surveillance." stimulus in germany, what gets your attention this morning? anna: stimulus in germany is it. of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. here in europe, also waiting on the latest developments from jackson hole. just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. tom: 120 miles per hour maximum wind, but the landfall of 160 was extraordinary. the shape of the storm has changed as well. with our first word news in new york, here is ritika gupta. ritika: good morning. it is one of the most powerful storms ever to hit louisiana. you were just discussing hurricane laura, it made landfall near cameron, louisiana with maximum winds of 150 miles per hour, plus there is a threat of a catastrophic storm surge and flash flooding. there is concern that damage could le

alongside tom keene and lisa abramowicz, i'm jonathan ferro. tiktok on ice for 15 minutes. we are still on the road to nowhere. tom: a really busy first day of august. the moon right now. we will do that in a moment. but it is all-encompassing, this political battle in washington. i am just going to go to the round number. how do you explain to 30 million americans that there is not a check in the mail? jonathan: you can't, and that is the problem. insurance.employment payrolls friday, the unpredictable print, and i think the most unpredictable in quite a while. lisa: politically, it makes no sense not to extend the enhanced lemon benefits, and yet they are still negotiating. they have already expire. what i am watching is how big the deficit is going to get area the u.s. treasury department is going to be laying out there barring plan -- deficit is going to get. u.s. treasury department is going to be laying out there borrowing plan. watchingso going to be president trump. sorry, i am going to talk about tiktok. he's going to give guidance on

with tom keene in new york. you are watching "bloomberg surveillance." to track the coronavirus, bloomberg has developed a unique partnership with johns hopkins, which has been at the forefront of the international response. we are joined by andrew pekosz, johns hopkins university bloomberg school of public health professor and meteorologist. perfect voice -- professor and virologist. speak to.ice to the cdc, changing its guidance with regards to testing. when you have been exposed to a case of coronavirus but you are asymptomatic, the guidance is now that you don't test. what do we know about asymptomatic transmission that we need to understand when evaluating this change to be honest, this is a? dr. pekosz: bit of a head scratcher to many of us in the public health field. we know from the data that asymptomatic infected individuals are responsible for a large amount of the virus spread in the u.s. and globally. so the new cdc guidelines sort testing aasize population that we think is incredibly important in terms of the spread of the virus. the reason

tom keene back with us on monday. the bond supply and a little bit of fatigue given the bond market jitters in the last couple of hours. tom: 30 year treasuries --lisa: 30 year treasuries did not get received that well, which led to a bit of a selloff in stocks. i think that is really interesting. i think probably a little too early to worry, given where the 10 year's right now. lisa: never too early to worry. jonathan: the hyatt is about 90 basis points. we are in the middle. there's a little bit of concern about oversupply, particularly at the long end, but two governments issued long-term hours. the last few the other was apple and president tim cook. [laughter] it is the 40 year portion that i think is getting the attention. it is about the duration risk people are willing to take. lisa: people are saying that perhaps demand for that offering took away from the u.s. government. you do have to wonder, and i think this is a question a growing number of strategists are asking him selves, at what point does the fed st

lisa abramowicz and tom keene. jonathan ferro is off. now our interview of the day on the future of global wall street. he was the first kid in his family to go to college. he ended up landing at xerox and went on to columbia university with an mba and landed at a small investment shop a million years ago. there he built their investment research department. i winner for nine or 10 years in a row. leon cooperman joins us. it with the gentleman from omega. i want to talk about the future of goldman sachs. you have a beloved relationship. you and i have talked about this many times before. i guess they're trying to be a retail bank. we went from lloyd to david. how is your goldman sachs doing? leon: i think they are doing very well. i do not expect this question. i retired from goldman sachs at forend of 1991, so i'm gone more than 20 years, closer to 30 years. things have changed, but i have an extraordinarily high regard for the firm, they have a great culture, they are terrific people, but in all honesty i am not current. tom: that is d

guy johnson in london, tom keene in new york.utures up seven, dell futures up 120. -- dow futures up 120. there are the economic systems of this world, and blackrock elgatment institute, bartsch synthesizes together a more holistic view. thus to begin the three hour conversation. i'm kidding. we have her here for a number of minutes this morning. there is so much to talk about in this summer, this august, of a really strange 2020. how does europe come out of this? when we come out of this pandemic, when we come out of the generational change of leadership signaled by chancellor merkel, where will europe be on the other side of this bridge? tom. good morning, i think europe at the moment in somewhat better shape than in other parts of the world. it has a better control of the virus dynamic. response also seems to come together more than in other places, and there is more visibility about the fiscal availablehat has been . that looks fine, and then if you look at the number of long-term trends that will be accelerated pandemic,k of

i am tom keene. anna edwards is in for francine lacqua. we appreciate your long day here in "bloomberg surveillance." stimulus in germany, what gets your attention this morning? anna: stimulus in germany is it. of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. here in europe, also waiting on the latest developments from jackson hole. just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. tom: 120 miles per hour maximum wind, but the landfall of 160 was extraordinary. the shape of the storm has changed as well.

alongside tom keene and lisa abramowicz, i'm jonathan ferro.our equity market shaping up as follows this tuesday morning. equity futures up 20 on the s&p. can we make it eight straight day of gains on the s&p, currently the longest daily winning streak going back to late 2017? all about dollar weakness through g10. the euro is firmer. the only currency the dollar is doing better against is the japanese yen. that speaks to the risk appetite improving. $1.1791.dollar at tom: in the silence of washington is kevin cirilli, our chief washington correspondent. without question yesterday, the moment for me was mark zandi of moody's framing out a 10% unemployment rate is actually 14%. has a longg, axios dissertation, the granularity of food kitchens around this nation. they are talking about the pandemic depression, and we have radio silence. how will it be broken? hown: i think in terms of the markets have reacted during the past couple of months, contrasted with what you just laid out for the middle class and the lower middle class in this country, a

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning. jonathan ferro, lisa abramowicz off today. anna edwards with me in london. with futures update, they just advanced off the walmart news that is out. this is the business story of this pandemic, the digital success of amazon. diy, homeay the whole return.cellent huge same-store sales beat at home depot. now walmart out with a digital 97% at theirup online stores. granted, it is a different -- a different mix than home depot. a stunning statement from the traditional of england, where i believe one and in will be shown the door. anna: they are hoping to do this through voluntary redundancies and retirements and the like, but they got to get to that number. food was a bright spot at marks & spencer's. obviously, the online shift on all of these retailers has structurally been dealing with pre-pandemic comes with costs as well for retailers. they need to reposition their businesses for a new world. tom: it is a really complex tuesday here on our simulcast. we welcome al

tom keene will be -- that sets me up. tom keene will be taking some time off.athan: i wonder how much vacation you've taken this year. tom: i am almost out of my vacation days. jonathan: i have too many. you will not let me take time off. coming up on this program, sarah bianchi. tom: you have a reunion. jonathan: a reunion. a virtual one. this is bloomberg. roadblock in is a the capitol hill talks for a new virus stimulus package. it is mitch mcconnell's insistence or be legal liability protection for businesses, schools, and colleges. mcconnell says he will not let the bill pass republican-controlled senate without a temporary shield. democrats say they will not accept the republican plan as it stands. joe biden good name his running mate as early as midweek. bloomberg has learned the presidential nominee has finished interviewing the candidates. joe biden promised in the spring he would pick a woman to be his vice presidential candidate. vladimir putin is claiming victory in the race to develop the coronavirus vaccine. the prime minister says the country has

alongside tom keene and lisa abramowicz, i'm jonathan ferro.und one hour and 12 minutes away from the opening bell, your equity price action shaping up as follows. 500, -0.4%.he s&p up performing in the fx market, .he swissie, the euro at $1.17.r the 10 year at 0.54%. tom: we will see if we go down to a record 10 year low. we are close to it. out was ar is wonderful book on instagram, "no filter." we want her to dovetail the oddity of microsoft going after tiktok. full disclosure, i am really ignorant on it. and to do it with someone who knows the strategic realities of microsoft. chase.just cut to the they are going to buy tiktok maybe. is it a dalliance, or do you see a strategic initiative here? >> i don't think it is strategic at all. it gives them entry into the digital ad market a little bit stronger, but the revenue buffer is selling software to enterprises. i think they should stick to that. jonathan: i am trying to understand what a fire sale is and what the price for that would be, and what i fair price is. >> that is going to be toug

francine lacqua and tom keene. it is a surveillance-thon.e rescue -- 5, 6, seven hours of francine lacqua.

in what is basically about that real issue and i think that putin will use it he is probably very keen to look at shankar to exit in one piece but he's even more keen on keeping control and probably actually strengthening his control of be a loose. dose he has money for that he has a propaganda machine he has huge intelligence separate us in place and that bill reese is a member of several treaty is to reach russia is also a signatory which binds be able to russia and the russian economy is going to go to russia so i think that putin will try and play all cards to on the one hand prevent some kind of big bloodshed because it will badly really reflect on him but on the other hand to keep here are they the european union and they and he is calculation is essentially that eventually the e.u. will lose interest and valorous it didn't have much let's admit it just before the elections constant saying thank you as always for your insights that was russia analyst constantine in moscow. israeli and german air forces have begun military exercises in the skies over germany marking the 1st time i

i'm tom keene -- good morning, everyone. i'm tom keene. for francine in london. we have been watching a most difficult speech from shinzo abe and japan. stabilityas brought he brought his three arrows around monetary policy, fiscal policy, economic reform area how long will those policies be ?arried on in japan it is certainly something moving fx markets. tom: our stephen engle with us in a bit. to 1955, between essentially the rural party, the natural lbp party, and the parliamentarians. mr. abe has straddled that divide for many, many years. with our news in new york city, here's what -- here's ritika gupta. ritika: the longest serving prime minister in japan's history is resigning. shinzo abe is stepping down after eight because of health reasons -- after eight years because of health reasons. reports say he has been undergoing treatment for a chronic digestive condition. he agreed to stay on until the ruling party picks a successor. donald trump made his case for a second term last night at the republican national convention. he promised to create 10 million

alongside tom keene and lisa abramowicz, i'm jonathan ferro. this is "bloomberg surveillance ." ritika: democrats are demanding more republican concessions for a deal on a stimulus package. senate democratic leader chuck schumer says there has been some forward women time, but is calling on the white house to do more -- forward momentum, but is calling on the white house to do more. white house chief of staff mark meadows says the president may take executive action to extend unemployment benefits on a moratorium on eviction. twitter and facebook locked a video shared by accounts linked to president trump. both said the video violated policies on coronavirus misinformation. in the clip from an interview, the president said that children were virtually immune from the coronavirus. secretary of state mike pompeo bans ofling that chinese technology would extend beyond tiktok, encouraging barring chinese applications from app stores. he said they pose significant threats to american personal --as'-- two americans threats to americans' personal data

that deserves respect and that there should be some kind of action to be taken but i think they're keen to take this on any new level germany of course has the e.u. presidency at the moment so i think we can expect lots of discussions on that level about any action that should be taken to for international editor richard walker thank you. now to baton rouge where 3 leading opposition activists have been arrested following another day of demonstrations calling for president alexander lukashenko resignation thousands of thousands of people joined sunday's protest in the capital minsk they cues the president of rigging the election 2 weeks ago tarion leaders responded defiantly threatening further crackdowns. hardeen go away a rallying cry sustained for over 2 weeks amplified by one of the biggest crowds minsk has ever seen. demonstrators repeated their demand for new elections angry at thousands of arrests many bloody beatings and several deaths. yeah i'm shocked by these lies and violence that reign in our country i have 3 children and 3 grandchildren i want them to live in a free countr

anna edwards and tom keene. it's a simulcast. it's bloomberg.ina: with the first word news, i'm karina mitchell. democrats have made it official. they have nominated joe to take on president trump in november -- nominated joe biden to take on president trump in november. past democrats stars like bill clinton and future ones like alexandria ocasio-cortez made short appearances. so did work a can secretary of state colin powell. >> joe biden will be a president we can all be proud to salute. he will never doubt that he will stand with our friends and stand up to our advertisers -- to our adversaries, never the other way around. karina: tonight the party will hear from senator kamala harris, and we will hear more in the coming days from the postmaster general about his decision to suspend changes to the mail service until after the election. testify in will front of congress. democrats were concerned that a slowdown could hurt voting by mail. bloomberg has learned measures could target swaps with companies in asia and europe. last week, the u.s. s

keene, andwicz, tom jon ferro.[laughter] ♪ ♪ from new york city for our viewers worldwide, i am taylor riggs in for jonathan ferro. "the countdown to the open" starts right now. it is a risk on day. we are eagerly approaching a 3500 on the s&p 500 as we have a new regime in the federal reserve keeping rates at zero for the foreseeable future. that means we are getting further lived in yields. 73 basis points on the 10 year. a 1.52 on the 30 year and breaking -- breakevens are rising. investors baiting the market implications of a policy shift at the fed. >> low rates will be with us for longer. , near zero rates forever and aj. -- forever and a day. >> there is no doubt the fed wants a super yield curve. >> it is an important shift. >>

jonathan ferro, lisa abramowicz, and tom keene. it is a

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: good morning, good morning. this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside lisa abramowicz, i'm jonathan ferro. tom is back with us on monday. we are within 2% of all-time highs on the s&p 500. lisa: tech names got bid up so much. i am struggling to understand the why behind this. jonathan: since february 19, the average stock down 6%. it has been one portion of this market which is absolutely ripped through 2020. lisa: are we at the phase of recovery where you can go into more cyclicals, given the fact that you saw a bit of an increase in treasury yields? treasury yields coming back down today. we are going to be getting data, though, i date: 30. one thing i am -- at 8:30. one thing i am watching is the jobless claims, still expected to come in at over one million americans in the past week, even though it is expected to come down. a.m. -- aen 40 5 10:45 a.m. conference from speaker pelosi on the road to nowhere. each week that this goes on is

tom keene in new york. one analyst writes up on bluebay asset management, on the highway securities and the idea of traipsing through bank stocks by using cocoas. explain that strategy that bluebay asset management was featured on. mark: the part of the credit market that we have really liked him course of the last couple of years and continue to like a lot is european bank credits. in no way, in the last recession in 2008, we saw banks in the eye of the storm. they got beaten to bits. banks took a lot of risk and they did not have sufficient capital. banks were not a place it wanted to be as a credit investor. but in the recession we are seeing, we are looking at banks with very strong buffers in terms of near-term ratios. we have seen them take a lot less risk than they used to take. a lot of the risk has now really been packaged off elsewhere. we actually think banks are boring. barring is good as a credit investor. it does not mean we are bullish about, bank equity stocks however, buying these subordina

lisa abramowicz stepping in for tom keene in new york this money. great to have you on the program.uch to talk about when we look at gold finding that support around 1100. lisa: we are also going to take a look at the political landscape around the united states, with the democratic candidate firming up what it is going to look like. a big question about political

lisa abramowicz and tom keene. jon ferro is off.r thoughts on the bond market off the powell speech? lisa: long dated bonds, 30 year yields rising on whether the fed will be able to reach his goal of an average 2% long-term inflation rate. the idea it could go above that and they are going to wait for a long time before raising rates. tom: in days of old, this would be a one hour conversation. we will compress that now with william dudley. for years at goldman sachs, and given great credit for inventing modern goldman sachs economics, and then at the new york fed. bill dudley out of berkeley has been one of our greatest students of our theory of monetary policy. what did the chairman wrought yesterday? we knew this was coming, but the scathing notes i have read from selected economists has startled me. what did he do yesterday? bill: what he did yesterday was he basically changed the inflation objective of the federal reserve. before, the fed had a bygones policy. they missed for five years, 10 years, 1000 years. next year they woul

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