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personalized advice so impressive your money never stops working for you with merrill. bank of america company. jon: time for today's for what it's worth. $1600, the average price for a vehicle so that carmax in the latest quarter, a decline of 5.5%. high interest rates impacting demand, user market and impacted by a rebound in the production of new vehicles. carmack shares getting a lift but -- carmax getting a lift a little. trying to take some market share it with that. matt: we talk about the average mortgage rate at $3000, consumers looking at thousand dollar car payments. we are seeing default rates pick up here to a real concern and something to keep an eye on in this economy. jon: this is bloomberg. ♪ fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, wa

personalized advice so impressive your money never stops working for you with merrill. bank of america company. rishaad: took an in with the fixed-income pictured. the two year yield, 4.113. a global sly in britain where investors are growing concerned about aggressive monetary responses. a steady pictured there for the 10 year. we had the loan prime rate cut which was perhaps a little bit underwhelming according to people up there. haslinda: that is one of our top stories of that day. chinese banks have lowered their benchmark lending rates for the first time in 10 months. let's get perspective from jim leaviss from m&g investment management. the lp are doing very little to reverse negative supplement. perhaps too little too late. >> i do not understand why for the sake of an extra five basis points the market is disappointed today. perhaps authorities know things will recover more quickly. because certainly there is a lot of expectation that something needed to be done to help the property sector in particular. haslinda: what opportunities do you see arising? >> event

personalized advice so impressive your money never stops working for you with merrill. you are all invited for the next gay games in hong kong. ♪ yvonne: the moment hong kong won its bid to host the gay games. it is now happening. rishaad: it will be cohosted with the mexican city of guadalajara. organizers celebrating this pride month. alan lang from gay games hk is joining us. a means a lot for the lgbtq community, but it is much wider. >> the gay games first time in hong kong, first time in asia. for the first time in 40 years of history, big impact and big visibility. yvonne: it is finally coming after the pandemic restrictions were lifted. what will we actually see? >> if you do join the games in november, you also get to go to the village which will be open for the whole week. in terms of registration numbers, tennis is really selling out really fast. rishaad: dodgeball as well i understand. how does it work when you have on the others of the world other events being held in guadalajara? >> they are hosting their own gay games. we are focusing on the asia region.

personalized advice so impressive your money never stops working for you with merrill. the people who teach us and rescue us, the people on our team and in our family. it can happen to the people who serve us and the people who served. the people we work late with and stay out late with. it can even happen to the person in the mirror. opioid use disorder is a disease that can happen to any of us. it's possible recovery can happen to any of us, too. advancing flight for future generations. ♪ welcome to a new era of flight. matt: this is bloomberg markets. time for our stock of the hour. u.s. health insurers plunging after warnings of rising costs end boost of procedures -- elective procedures like joint replacements. katie greifeld has been following this all morning. this is fascinating because he would have thought a pandemic is bad for health insurers in the end of a pandemic is good but it seems to be the other way around. katie: it is the other way around when you are talking about procedures like joint replacements. these were the type of procedures people deferred

your money never stops working for you with merrill. uncertaiy.e to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. rishaad: let's check in with some of these moving parts of the market. the tech side of things we gained. -- week. we have the ev space. let's have a look at this. some of the commodities in play. copper and oil was while recovering from losses and suffered in recent days. let's quickly look at the alibaba. ev tax breaks affecting things. haslinda: chinext than any tax breaks's -- china extending tax breaks on ev's. the hang seng under a lot of pressure. it is trading currently below its 200 dma. coming up, narendra modi heading to the white house on his first u.s. state visit. this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way th

personalized advice so impressive your money never stops working for you with merrill. bank of america company. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. jon: this is bloomberg markets. i am jon erlichman, with matt miller. time for our stock of the hour. we are watching both aston marson -- s tomorrow and and lucid. they are teaming up. the gains on the day overall have been trimmed. aston martin is saying it will pay more than $230 million in cash in exchange for battery electro power chain components. it is worth noting that saudi arabia is a big schiller -- a picture holder and both of these companie

personalized advice so impressive your money never stops working for you with merrill.ank of america company. david: large carbon energy companies seem to have a difficulty. are they producing large amounts of carbon energy that people like to consume, or are they supposed to transition to being renewable energy companies and how are you transitioning yourself to be a renewable company? mike: we are focused on leveraging our strength to deliver lower carbon energy to a growing world. what that means is in the near term, we can find ways and are finding ways to reduce the greenhouse gas impact of the energy the world uses today. so we are reducing the emissions associated with oil and gas. it's what the world needs today. at the same time, we are building lower carbon energies for tomorrow. so things like renewable fuels, hydrogen, geothermal are all technologies we are investing in, businesses we are growing that will play a bigger role tomorrow. there is no one solution for this. david: in 2022 you bought a renewable energy company for roughly $3 billion, why did you w

personalized advice so impressive your money never stops working for you with merrill.k of america company. get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. caroline: time now for talking tech. first up, do you want to make use of your car when you are not using it yourself? if her has plans for that. it will use uber car share. it will say -- it says it will make its business more sustainable. the company wants to cut emissions, too, to zero. it once to convert its entire fleet of cars to electric by any 40. >> tesla's are the highest selling cars, in terms of electric vehicles, by a mile. at the same time, we want elective vacation to happen. it's not just going to happen with tesla. we need ford's out there, gm's out there, toyotas out there, etc. we nee

a bank of america company. ♪ ♪ your money never stops working for you with merrill.icles are all-electric. the feeling is all mercedes. the choice is all yours. see your dealer for exceptional offers today. guy: welcome back to bloomberg markets, welcome back to the paris air show here. day one is winding down but we are not done with our fantastic guests for you. if there is one thing people are talking about here is what is happening with the supply demand balance. demand is clearly back for aviation in a big way but the supply side is struggling to catch up. so what we thought we would do is talk to one of the world's biggest suppliers to the aviation market. a huge french company that makes everything from jet engines to landing gear. i think they even make the overhead bins that we see in the aircraft that we fly on. olivier andries is the ceo and joins us now. olivier: thank you. guy: demand is back. olivier: strongly. guy: where is supply? olivier: we have gone from an unprecedented demand in 2022 what we see today, unprecedented shortage of supply. two things

don't use macs, merrill reporting from warsaw there in switzerland, caution and fate have averted a disaster. one month ago, the residence of the tiny alpine village of bookings were evacuated because of the risk of a devastating rockslide, the rocks of tumble down the mountain as predicted, but have miraculously missed missed the community by a few meters. this is a huge rock slide. the crushed down a switzer mountain in the early hours of thursday morning. and this is how close it came to burying the village of green's width is missing the houses nearest the mountain by a few meters. residents were evacuated a month ago, after geologist said long warned of the dangers of the rock collapsing. the mood after the rock slide was largely one of intense relief. the land slide is now no longer a danger. about 2 thirds has now come down. this is very good news because the change it to the village is now much less because especially force in the very large debris flow last night did not damage the vintage. we weren't expecting that an access road to the village has been completely buried, while oth

all right, let's talk some more about this with mex merrill from do you have the sports max? um byron have ended this controversial partnership with the guitar ways. why it hasn't been the subject of so much criticism, but will essentially do to concise human rights record. and for a long time, critics said that bind was taking part in sports, watching and being opposed to child focus house p. all strategy in the run up to the world cup in 2022 in fines in particular. been really vocal during this sponsorship of, of saying, please please ended basically sizing women's work as an eligibility to rights. among a few things with banners and the stadiums. protests around the club and also at the ag, i'm the members meeting in 2021. having a massive discussion that trying to force the club essentially to drop the sponsorship and spying is the majority fund own membership, owns of memberships really have a lot of power, but they couldn't get rid of this and taking such a stand politically. uh is that common with in the german football fan culture? i do think german football fan cult

personalized advice so impressive your money never stops working for you with merrill.k of america company. david: you have been involved in advising presidential candidates, i assume presidents as well, do you have an interest serving in the federal government, or running for office? bob: absolutely, unequivocally, no. david: the aggravation factor is not worth it? bob: it is the aggravation factor, but more importantly, i don't believe there is any integrity in it. david: so, you do give money to politicians. it is part of the system. bob: it is part of the game. i think to be honest, i think there is a need for a multiparty system in the u.s. to give more people a choice about where they can throw their voter support and also their political support. but also to cause the country to come together by having everybody have a role in deciding what is in the long-term the best interest of the country. i have often believed that black americans as a people and as a voting block should adopt the same position that the original founders of the congressional black caucus had

your money never stops working for you with merrill. uncertainty? or opportunity. rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ caroline: time now for what is going viral. fans of the beatles, you are in for a treat. paul mccartney says you can expect to hear one final song. he is crediting artificial intelligence. in an interview, the song was made using a demo with don lennon's voice. it will be released later this year. i was lucky to be in glastonbury this time last year. paul mccar

use mex merrill giving us a low down on this. a deal of buying munich, ending its partnership with cut our with mex, thank you. or do you have political tensions and strain to supply chains during the karone of ours, but that may have caused some by sun economies to reassess their ties to china. in pursuing a china oppose one strategy, vietnam has been among the prefer destinations for, for an investments in the regions. even though doing business there still has some drawbacks. the building sensors takes experience and patience. and that is what time brings to the table. the 30 year old has been working at people and folks, and what do you mean sitting for 4 years? the drum and the sensor manufacturer and we have them as just expand that it's production with a new plan that you're not really have to be focused and concentrate not to make mistakes. it's tedious work movement team had become the it'd be self of the caring for the employees. here is key because the competition for talent didn't get now has dramatically increased in

personalized advice so impressive your money never stops working for you with merrill.ank of america company. was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com >> what i would say is if we don't get inflation back to target, it goes on for much longer. none of us want that. haidi: thomas horton and bank of england governor on the need for further rate hikes. the boe coming through with a jumbo sized move. really, challenges for central bankers as some of these central banks enter the final stages, as it were, of the inflation fight. bonds trading in australia and new zealand, we could see a lift towards new bonds, at least an advance as we get weeks before the rba leadership decision. jim schall mers is expected to make that decision. whether -- gets a new term or we see a new person. that could trigger a more dovish posture from monetary policy. particularly as -- has come into so much criticism for the number of rate hikes he

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personalized advice so impressive your money never stops working for you with merrill. america company. david: so what do you say to some of the old line investors, meaning the people my age, or older, or slightly younger than me, who say that cryptocurrency really serves no useful social purpose, and all cryptocurrencies will go to zero ultimately? how do you respond to them? brian: yeah, well, look, i think there is a long history in technology of bubbles being created and then corrections. and, you know, there are hype cycles and doom cycles. and this has been true, obviously, with the internet in recent memory, but even if you go back to the railroads and the telephone and all these things, studying the history of this, you see that when a big technology innovation happens, early adopters come in. you see a bubble form. there is often times drastic exuberance, and then a correction happens. ultimately, there is a breakthrough. sometimes it takes a decade or more for these benefits to come to fruition. so, that is exactly what is happening here with cryptocurrency. o

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a bank of america company. ♪ ♪ your money never stops working for you with merrill.s are all-electric. the feeling is all mercedes. the choice is all yours. see your dealer for exceptional offers today. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. guy: this is bloomberg markets and you are looking at the printable room. coming up, tcw group codirector joining us at 1:00 p.m. new york time. this is bloomberg. >> forecasting has been difficult in an area with such big things going on. there's a war, we've had the pandemic. we need to understand how we can best respond to those shocks. i would say within this, and terms of inflation, we have raised interest rates by nearly 5% in two months so we take this function. guy: andrew bailey, the government of the bank of england yesterday as they surprise markets with a 50 base point height. i'm not sure there were that many people who were surprised. the papers this morning absolutely brutal

personalized advice so impressive your money never stops working for you with merrill.merica company. >> this is a charging stand invented by tesla. this is acc has connector. it stands for -- this is ford and gm they announced they would adopt this in future models and they get access to the tesla charge network. it created a u.s. wide charge standard. others followed suit saying they would offer technology that worked with connectors. here is the history. automakers say they will collaborate on the combined charging system. the goal, use it to standardize. meanwhile, tesla develops its own technology that has been used since 2012. those connectors are lighter, half the size and can transfer more power. the network is already bigger but there is still some concerns. advocates say it is not open source and has not been peer reviewed. it seems to be tesla's way. ed: let's bring in donna. tesla offering free charging. what do we know? >> it is not free. customers will have to pay for it, but we had a big value add for tesla. consumers are no longer worried about range anx

. ♪ ♪ ne's looking at their phones for financial insights from merrill.he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company. ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com ed: let's head over to toronto where the tech and media collision conferences underway. surprise, ai is top of mind. jon erlichman is on stan

lynch, he safed merrill lynch.lushing, charlie. [laughter] >> listen, if it wasn't true, i wouldn't say it. he then went to morgan stanley, and and he got into the private wealth management business, so to speak, the brokerage business. you were in that, then you did something very entrepreneurial, and you're doing rockefeller, which i find fascinating. i'll get into that in a minute. my question is, of all the things you have to worry about, okay, building a wealth management system, having people interact with brokers to plan their financial future, are you worried about a.i. taking jobs, becoming de facto brokers where you don't need humans anymore? >> you know, charlie, first of all, thank you for all of that, i appreciate it. it's been a lot of years and a lot of water under those bridges. >> yes. >> you know, on a.i., i don't worry about a.i. displacing top private advisers because the advice piece, the counsel piece, a.i.'s not going to do that. in fact, i do think a.i. could make the life of the private adv

personalized advice so impressive your money never stops working for you with merrill.of america company. >> rated melissa brown joins us. lisa: here is the first -- some own: here is the first -- some own --simone: revelations about relationship with jeffrey epstein piled up for a jes staley. he is scheduled to give his events. they are saying he may have participated in the sex trafficking ring ran by epstein's lawyers are denying the allegations. fresh health warnings to the weekend, soaring temperatures from a blast of hot air has pushed the health security agency to issue alerts friday signaling risks for people over 65 and those with pre-existing conditions. temperatures will reach nearly 82 degrees and the british german capitals on saturday. ubs has sealed an agreement with the swiss government to cover $9.9 billion of losses and that could incur from the losses of credit suisse. that is a major hurdle in the closing of the historic take over, it is 3% of the combined assets. relief insight. the national rather -- weather service said rain sunday should help dis

personalized advice so impressive your money never stops working for you with merrill.cy is the word most associate were china's efforts to shore up its economy. chinese officials are soliciting advice from business leaders, even foreign ones on how to revitalize growth. stephen engle is in hong kong. tell us what the state of the china -- tell us about the state of the chinese economy. stephen: the recovery story is weak, and that is stymied by we confidence and also no solutions on how to reverse these trends. that's why, according to sources, the chinese top leadership has summoned to business leaders economist, even some foreign business leaders to get their ideas on how to revitalize the economy, how to revitalize confidence, and also revive the key drivers of growth, including their real estate industry, those gathered called on the government to make urgent policy revisions adopt a more market oriented rather than plan led approach to growth. that will be a tall order because xi jinping put more communist party control over the levers of the economy rather than t

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personalized advice so impressive your money never stops working for you with merrill. bank of america company. rishaad: it is a day were we are seeing a bit of a down day. we are looking at perhaps volumes a little thinner than they would be of late. this is the dragon festival, but it is not a festival in other places in the world because we have central banks really busy. and well, economists expecting turkey to more than double its key interest rate to more than 20%. was 8.5%. haslinda: you got to wonder if some investors are going to be really disappointed. the chief economist and head of market research at rhp banking group is still with us. expectations that indonesia will stand back. linked to that, there's the sense that em's were the first to raise rates and will be the first to cut. >> from our perspective, the trade is not an em. we talk about the underlying themes driving our views. first, on a global basis, the view we have had since september 2002, overweight equities, underweight cash. that has worked fabulously. underneath the surface, the key messages

personalized advice so impressive your money never stops working for you with merrill.merica company. haslinda: let's get to the story that broke recently. byju's refused to make further payment to lenders of a loan. it has filed a complaint in the new york supreme court. let's bring in our senior editor menaka doshi. they are trying to strike this deal with creditors but it is just not happening. menaka: absolutely right, haslinda. this is the outcome of an attempted renegotiation on the part of some lenders to accelerate debt repayments. it was a $40 million debt repayment that was due over the last few hours, and byju's has refused to pay, not failed to pay it seems because they didn't agree with the accelerated loan repayment terms. so the matter has ended up in court with the investment manager also involved. it is a $1.40 billion loan and it underscores the financial situation at india's leading edtech, at one time valued over $22 billion, now worth apparently less than half that. rishaad: this loan provider is being predatory as well. let's take a look at adani g

personalized advice so impressive your money never stops working for you with merrill. bank of america company. caroline: let's get back to some of these earnings. salesforce, tumbling, signaled it is not growing as fast as it used to. shifting focus to generating higher profits. let's get into the risk-reward. it was a noticeable drop. ultimately, this is a company dealing with layoffs and having to tighten expenses. why the sales slow down? >> last quarter, salesforce said we will focus on profit and the markets that it could not be more excited. this quarter, they gave us more of that. the market started saying, wait a minute, you guys are a growth company. we want to see further revenue growth. almost all of the metrics were beat. a slight deceleration in sales has people saying, are these cost cuts going to weigh on their ability to keep growing? caroline: it is a similar theme that we saw with c3.ai. a company that has significant growth. salesforce was the best-performing stock. c3.ai has tripled in its market valuation and yet the growth is not living up to expe

personalized advice so impressive your money never stops working for you with merrill.rica company. ed: a sub carrying five people to tour the titanic went missing on sunday, extensive rescue operations are still underway. what is the latest on the search? >> the latest on the search is that there are more aircraft being dispatched to the region that are capable of searching below the surface. they have explored a lot of the surface with radar, other search capabilities. but they have not found any sign of it, so now they are looking deeper under the surface for this missing submersible. caroline: has this happened before, and could there be a chance that satellite is reconnected in some way? john: i suppose there could be a chance. the craft itself has between 70 and 96 hours of oxygen from when it went down. we are now more than 48 hours into it, so the clock is ticking. that is the key thing, can they locate the craft if it is still a viable craft and bring the people back up to the surface? you have to unscrew all of the port from the outside. the people inside, eve

personalized advice so impressive your money never stops working for you with merrill.. >> it is time for the bloomberg best's flash and a look at some of the biggest business stories. nasdaq has agreed to buy adenza for $10.5 billion. it is the exchanges biggest acquisition ever. adenza makes software that is used by banks and brokerages. nasdaq's software business makes up a third of its recurring revenues. jp morgan state -- chase agrees to settle a lawsuit. bloomberg has learned the bank is prepared to pay $290 million. epstein is the disgraced financier that killed himself in a business -- jail cell. alix: prude is getting hammered and down 4% and we are well below 70 now with wti. i am having a hard time finding an absolute reason why and the last time he saw across -- who follow this much in a day because there were rumors of iran in u.s. coming to a nuclear day -- deal and that was debunked. this is bloomberg. ♪ alix: we are an hour into the u.s. trading session and stocks are higher. abigail attracting the moves. -- is tracking the moves. mark: abigail: --abiga

personalized advice so impressive your money never stops working for you with merrill.rica company. alix: it is 22 past seven -- 7:22 on the west coast. joining us now from london is alix of bloomberg quicktake. we want to talk about meta and potentially they will not be able to link to news without paying for it on facebook and instagram. >> australia introduced legislation that forces social media plan to talk to news publishers and find anna agreement meaning they have to pay them -- and agreement where they have to pay them to release links of things to their platform. but we see in canada is something similar. it seems like meta because being a little more serious about it and will stop users being able to publish and run their stories. they say news publishers need this link and to be able to get traffic from social media. they say we should not have to do it for free. alix: cisa australia decision we are dealing with the canadian decision. is it because the way we consume news has it challenged? >> that's interesting. three years ago, is where this hit the road i

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personalized advice so impressive your money never stops working for you with merrill.of america company. ed: time now for talking tech. the japanese government is planning to triple domestically produced chips by 2030 with a focus on economic security measures and advanced technology like generative ai. tsmc just 10 minutes outlook for 2020 look -- 2023 capital spending is a main chip maker to apple grappling with soft demand for soft phones in particular but also computing check. tsmc reaffirm projections for revenue in the first half of 22 any three which will decline by about 10% in u.s. dollar terms. and baidu, a company that is providing services to more than 150 million students around the world has skipped payments on a $1.2 billion loan. escalating a conflict with lenders. the firm says it will not make any further payments to lenders until the dispute is decided in court. caroline? caroline: fascinating array of stories. let's go even more global and turn to one of the most read stories on bloomberg, tweeted about going viral, a short merger between a pga tour

personalized advice so impressive your money never stops working for you with merrill.merica company. was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com >> this is bloomberg markets. you are looking at a live look at the principal room. coming up tom siebel joins bloomberg tv at 3:30 p.m. new york time. this iomberg. keeping you up-to-date with news from around the world with the first word. ukraine's capital was hit by missiles overnight. the mayor says that re-people were killed in close touch including two children. but amir zelenskyy made an on -- vladimir -- volodymyr zelenskyy made a surprise appearance at neighboring moldova. it is only a few miles away from the breakaway region. he says he will hold bilateral meetings at the european community summit where he will propose setting up a coalition of patriots. nato foreign ministers are discussing ukraine's bid to join the military alliance in oslo today. france and germany

personalized advice so impressive your money never stops working for you with merrill.e vc roundup. inside partners has cut the target side of the latest to $15 billion from the earlier target of $20 billion as it sees a great reset in tech. that is according to the financial times, citing a letter to institutional investors. the firm has raised about $2 billion for its 13th fund. technology crossover ventures or tcv has raised 15% capital. that is according to the information citing securities filings and a document compiled by one of tcv's partners. tcv has raised $1.4 billion for its flagship. cubic pv has secured over $100 million in equity commitments for factory plans. all committed capital with the first $33 million to be released immediately. caroline: let's stick with the world of vc. welcoming to the show brian o'malley. $2 billion in assets under management and you stake your claim in the key companies that are consumer focused. at the moment, you seem to be looking a lot of the platforms that empower gig economy work. i'm interested to how your time is helpi

personalized advice so impressive your money never stops working for you with merrill.of america company. haidi: the risk after president biden called xi jinping a dictator and china says it was a confrontation violation of his political dignity as joe biden was speaking at a fundraiser about the alleged chinese spy balloon incident earlier this year when he made the off-the-cuff remark. secretary of state antony blinken had just left beijing the day before after a trip aimed at resetting relations that drew praise from both presidents. rate india's prime minister narendra modi is in washington today shery: -- india's prime minister narendra modi is in watching today as washington is being new delhi as a crucial economic partner in the endo pacific. spring and the deputy director and senior fellow at the center for strategic and international studies. great to have you with us. how does this visit by prime minister modi reflect the importance the bite and a ministration is putting on india? >> well it is a bilateral engagement that will be heavily weighted toward securi

personalized advice so impressive your money never stops working for you with merrill.erica company. alix: about 35 minutes away to the end of cash equity trading in europe and it is another down day for the european equity index. we are down about half a percent on the euro stoxx 600. that is led by very cyclical sectors. things like autos dragging us down. chemicals, some bad numbers coming out. if chemicals are not doing well, that is not good news because they are used in pretty much everything. the u.k., the volatility of the front end of the curve has been breathtaking. we were up 14 basis points yesterday and are now down 14 basis points. we have u.k. cpi tomorrow and then a boe decision the next day. i the bond vigilantes pulling back or did we just go too far yesterday? the euro that was high yesterday , some languages saying it is better to under do it then overdo it some saying we are still so far away from september and we have hiked a lot already, that we cannot say what that we cannot say what the decision is going to be. we were near 110 on the euro versu

personalized advice so impressive your money never stops working for you with merrill. america company. haidi: japanese stocks saw their first foreign fund outflows in 13 weeks, but after the rebalancing happen for their portfolios, demand for ai is like to go right back. we have seen shares all losing a little bit of steam and repositioning after such a strong rally. >> yes, exactly. we have seen foreign investors selling south korean and taiwanese stocks in the past two weeks and japanese share markets falling for the first time in 13 weeks. i would say they're becoming a victim of their own success because of sharp gains in their prices drinking a little bit of profit taking and of course long-term investors will rebalance their portfolios after such big gains. monitoring the capital flows, their data excludes short-term money like hedge funds. according to their data, long-term investors are still committed to those markets. so i don't think this is caused by changing sentiment, it's more about questioning. shery: so why is there so much optimism around north asia?

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that is max merrill in bremen to and we have time to take a look at some other sports stories, making news at the moment. tennis, great, know about jokers which has been celebrating in paris after meeting a caspar wrote in straight sets on sunday 2 when the french opened singles. title is 23rd grand slam trial means he now stands at the top of the mens all time less and women's goals. south africa's ashley bl hi has trial at the lpga classic in new jersey. it was the 34 year old for the tournament victory over the past 10 months. and in moto a, g. p, do connie's. francesco benya has claimed victory, italian grand prix. the defending role champion put on a dominant performance to extend his lead in the championship standing to 21 points . it was when i was 3rd consecutive when at his home grand prix in which i love. and finally, the world custard pie championships have crowned a new winner in the court. the annual event of the competitors and england took aim at each other to raise money for charity. contestants are only allowed to use their left hands and a hit in the base scores. top

personalized advice so impressive your money never stops working for you with merrill.ank of america company. >> you are looking live at the principal room. coming up, david hand joins bloomberg tv at 3:30 p.m., new york 10. this is bloomberg. ♪ alix: one area of the market that is perplexing is housing. are we accelerating? mortgage applications falling for the fourth straight week today. 30 year fixed rates close to seven month highs. chunky move on the front end of the bond market up by 10 basis points. joining us now is robert reffkin , ceo of the real estate firm compass, which is huge, particularly in new york city. if we get a pause and then more hikes from the fed and a push higher like what we just saw from the bank of canada? what is the effect on the housing market? robert: it is resilient up until 7.5% mortgage rates. buyers have excepted 6% or 7% as the new normal. there are more buyers than sellers. prices have increased every month this year and are near all-time highs. this year, there is not enough inventory. 30% of homeowners are locked into mortgage r

these new cabinets includes a format, merrill lynch economist who will be the new finance minister. so i'm say he's appointment suggests that while move away from years of unconventional economic policies, some of been driving reports from anchor a lots of intermediates him really mostly to noon. he started the decade in power. as president, bridge of the out of the one begins is to as president the days events began with deal with of office at the grand national assembly, which predicts the republic. that of the one made it a point to pay his respects to the founder of the turkish republic was to come out at the top. some see it as the beginning of a healing process for the politically divided nation is due to the next 5 years. we will continue to work hard to realize l vision that the century up to care, to protect the a tunnel brother who developed nation officials from 78 countries, including heads of state and prime minister, attended the set of many among them, the secretary general of nato, took he plays an important role president of the one, acknowledge the challenges of go

these new cabinets includes a former merrill lynch economist who will be the youth finance minister. so i'm sorry, his appointment suggests that one will move away from years of unconventional economic policies. as all have been job reports from anchor a lots and let me let him really mosley to noon. he started the decade in power. as president ridge of the out of the one begins is to as president. the day's events began with the owners of office at the grand national assembly, which predicts the republic and of the one made it a point to pay his respects to the founder of the turkish republic. what's to come out of the talk? some see it as the beginning of a healing process for the politically divided nation is due to the next 5 years. we will continue to work hard to realize l vision that the century of took care to protect the a tunnel brother who developed nation officials from 78 countries, including heads of state and prime minister, attended the settlement among them, the secretary general of nato, where it took he plays an important role president of the one, acknowledge the