[habla en inglÉs] michael bloomberg tomÓ clase de espaÑol.idad espeluznante. ¿quÉ le gustarÍa oÍrlo decir? >> que la reforma migratoria es un Éxito. [risas] leÓn: la cÁmara de representantes cayÓ otra vez en el caos hoy despuÉs de que los republicanos decidieron retirar la nominaciÓn al congresista jim jordan, quien hoy por tercera vez no logrÓ los votos para ser electo. ahora tratan de identificar un nuevo candidato y la estrategia para lograr su elecciÓn. maity: la academia americana de pediatrÍa publicÓ este viernes un informe clÍnico en el que concluye que las fÓrmulas comercializadas para niÑos de entre 6 y 36 meses no aportan ningÚn beneficio nutricional. asegura que no es necesario tirar a la basura la existencia de esta leche, sino asegurarse que su hijo siga una dieta equilibrada con cinco raciones de fruta y verdura fresca al dÍa y tome leche de vaca. leÓn: cvs afirmÓ que va a retirar de las tiendas algunos de sus medicamentos mÁs populares para el resfriado y la tos, tras seguir la recomendaciÓn de los asesores de la fda. ya no ofr

two months of protests, ironically one of the world's rich people, the new new york city mayor michael bloomberg ordered the city police to forcibly remove protesters and clear the park. many were arrested and many more were pepper sprayed. the new york city police department was accused of using police brutality against the occupie wall street protesters. well on the one hand, it seemed like the obama administration was vocally supporting the occupy wall street protests, barack obama, when he was dedicating the martin luther king jr. memorial during... the occupy protest, he said that if dr. martin luther king jr. were alive today, he would be at occupy wall street. nancy polosey and other elected officials said they thought occupy wall street was great, but we also know at the same time, they were coordinating national security crackdown on the protests, there were calls with the mayors of major cities, the department of home and security, fbi, not only heavily infiltrated the protests, but secured the arrest, there were many people that were arrested, beaten up and injured, uh, there were man

it was led by michael bloomberg, henry paulson, and tom steyer. among the findings, if we continue on the same path, by the year 2100, the country could see $701 billion of coastal property underwater. $108 billion in average annual losses from hurricanes and coastal storms on the eastern seaboard and gulf of mexico. and in some states, a loss of up to 70% in average annual crop yields. extreme heat and humidity would also threaten human health, reduce labor productivity, and strain electricity grids. >> global climate change over time poses severe threats to life on earth as we know it today. and as time goes on, those severe threats become greater and greater, and ultimately i think have the potential of becoming catastrophic. >> even if you're skeptical about climate change, there's no denying that it presents major risks that no company, city, or country can afford to ignore. >> i believe the american business community can and must lead the way in helping to reduce these risks. to rise to the challenges of climate change, they must do so now.

for michael bloomberg, bill gates, and the uae. now, the billionaires, they wan their money back.hey should. because in a way they are complacent in the death of higher education and now these woke institutions are graduatin activists incapable of critical thinking. young people who revel in being enraged, they are all victims. [inaudible] >> laura: i guess by the way they are thinking, this means that babies burned and beheaded our savages as well? they don't even know what they're saying, they're just chanting mindlessly. let's be clear. universities aren't the only place in america where pro hama propaganda is spread. to couple of nights ago in dearborn and the founder of the arab american news. >> we are not going to be intimidated by staying silent when they say hamas is a terrorist organization. hamas is not a terrorist organization. we have to say to them the terrorist is benjamin netanyahu. >> if you listen closely, this isn't a political debate, for the most hard-core, this is a debate about whether jewish people should survive at all. >> they will burn at the stake until

detailing financial information including michael bloomberg, bill gates, lebron james and taylor swifted this information. a massive unprecedented breech of confidential tax data. a treasury inspector general is looking into the case. unlike predecessors trump refused to release his tax returns. house democrats made them public last year. >> frankly politics gets more divisive, more painful. >> the justice department says littlejohn faces five years in prison if he is convicted. a law enforcement source says the sides are discussing a plea agreement. littlejohn's attorney declined to comment. >> bret: okay, rich. thank you. during the first few weeks of the fall school semester, there is growing concern about whether taxpayers are getting their money's worth from public education. tonight we look at the relationship between spending and achieving. here is senior national correspondent william la jeunesse. >> seven divided by seven. >> it's a question every parent wonders is there a correlation between the cost of education and achievement as taxpayers we're told if you give more, you g

of thousands of the wealthiest taxpayers leaked to the media including elon musk, jeff bezos, michael bloombergonaires paid no taxes and donald trump's were leaked. the hunt for the leaker became very high drama in washington, d.c., as well as very heated politics. republicans in the house ways and means were saying for years that this investigation or lack thereof was dragging on, therefore approving the irs shouldn't get more money. well, they found their suspect. they have found a man name charles littlejohn, he's a 38-year-old man who lives in washington, d.c. we don't know much about him. he worked for a private company that had a contract with the irs, so he wasn't an irs staffer. we don't know why he did what he did or how he got the returns and then leaked them, but he could face up to five years in prison, kelly. >> do we not know anything more about him or his political leanings? >> well, we can guess, tyler, because those returns showed and made this big case in pro-publica as the biden administration was trying to raise taxes on the wealthy that some of them in certain years didn't

concerned about trump getting reelected and also apparently had been, as a report, approached by michael bloomberg a unity to get and she instead kind of went to mitt romney and said, how about you do this with me? romney ultimately demurred, of course. they didn't run. and he still thinks that a third party ticket, as much as romney himself would love to run as an independent in this upcoming election, he thinks that there are too great a danger that third party ticket would end up helping donald trump and kind of spoiling the race for joe biden, and that's just not a risk romney is willing to take right now. >> okay, well mckay coppins, here's a look, everybody. romney, a reckoning. i want to thank you. planes, trains, automobiles, you've kept me company and i love reading this book. thank you so much, mckay. >> thank, you alex, thanks. >> coming up, we're going to go back to the breaking news in the middle east. the idf says fighter jets, rather, circle 150 underground targets in gaza. how long the ground operation might last. when moderate to severe ulcerative colitis takes you off course. put

. >> you are going to take care of michael bloomberg? course. >> i hope so. >> we are trying to deal with the video here. >> thank you. i don't even have that yet. you have the paperback. thank you so much. thank you. >> this will go on my desk. >> thank you. >> thank you so much. >> it would work. make it happen. thank you. thank you guys. >> i don't think it matters. thank you. >> thank you. >> he will give some remarks so you are more than welcome to stay. >> sign up with us, guys. we are so grateful. >> the 2024 gop presidential contender. the white house says the 6 million unfrozen iranian assets -- >> i think that response from the white house is a job. money is fungible. even if you got $6 billion and that is reserved for purposes that you are otherwise allocating your own dollars, you can still use those dollars for other uses. i think the american people are smarter than to fall for that. i think it is shameful that u.s. taxpayers are paying ransom money to iran. >> do you have a response to how biden has responded today? >> and

. >> you are going to take care of michael bloomberg? i hope so.ble conversations] >> please move back from the picture, please move back from the video here, thank you. there you go. right here. >>. >> thank you so much: thank you very much. you have the paper back. >> oh, yeah. >> i don't even have that yet. >> thank you. >> thank you so much. appreciate it. thank you so much, i appreciate it. we will, i appreciate that. counting on you. >> thank you. >> okay. [inaudible conversations] icht. >> thank you. [inaudible conversations] >> thank you, we're counting on it. where do you live? >> would that work? >> it would work. >> make it happen. >> i'm just a little bit star struck. >> all right. thank you, guys. thank you. >> we're counting on you. thank you so much. >> good to see you again, thank you. thank you. [inaudible conversations] >> thank you, guys. i appreciate that. [inaudible conversations] >> good to see you. >> remarks so you're more than welcome to stay, okay? >> sign up with us, guys. we're so grateful. thank you. [applause] >> how a

let's get more from bloomberg's michael heath. >> he is walking into a very difficult situation.enough with the president of the united states going into a war zone, but now with this tragic explosion, more than 500 people killed, the region is very outraged. they blame israel for it even though there is mutual accusations between hamas and israel about who was responsible. this narrows his move for maneuvering. he was going to meet with arab leaders, but that has been canceled. his ability to craft the narrative and keep iran at arms length while he show solidarity with israel has become much more difficult for him to ask acute -- execute. rishaad: what was the reason for canceling? [indiscernible] >> both sides say it was mutually agreed. i guess it was just the timing of it, with so much anger in the region. there were protests in various cities in the region after the bombing. the tension it seems is too high. president biden says they will meet later. they are putting up the meeting because of the timing, it is so tense. it is certainly not ideal for what he was hoping to ac

bloomberg's michael heath.oins us with the latest we have been bracing for conflict for some time. what is the latest on the israeli offensive? michael: a lot of events have been going on that signal the preparation for the ground attack. obviously it was reported that israel has called up more than 300,000 reserves. about 600,000 people have moved from gaza city into the south of gaza strip. the northern part is exited to be the ground incursion, that is the built up area where a lot of hamas people and armories are understood to be. so these are all the preparatory steps before israel actually moves into the strip. we have also seen the u.s. and egypt talk about being able to ship in aid supplies through the border with the gaza strip and egypt to assist the civilians who have moved down to the south of the strip. there is obviously a lot of people there. that movement is a prayer lewd to israel then going in. -- that movement of civilians to the south is a prelude to israel then going in. haidi: president bi

for more on the conflict let's bring in bloomberg editor michael heath.es it look more or less likely now that there will be new fronts in this israel-hamas war? >> according to the markets, no. oil has dropped away because there is a sense the conflict will be contained. there are worrying signs and obviously there has been some air attacks in syria which neighbors israel. you have rockets coming out of lebanon with hezbollah and of course you have the ongoing operations with gaza. further away, you have the h outhis who have fired missiles that have been shot down by the u.s.. the common denominator with all these groups is they are supported by iran. it is a very tense situation. the sense at the moment is it will remain contained. that seems to be the way israel is operating its ground operations. it is not so much a direct invasion. it is a piecemeal bit by bit operation. it is very much up in the air. what is good news is there is talk more aid is going to get into gaza. israeli ministers said they expect up to 100 trucks from wednesday. that is sti

bloomberg economics is a u.s. recession seems more likely that a soft landing. let's bring in our policy editor michael mckee for more on the bloomberg breakdown. for those trying to figure out where the bloomberg team is telling investors to brace for a recession, what to the data points say? mike: they are looking at what has happened in past recessions that say the conditions for a recession or falling into place. one of them is that the federal reserve rate increases are just now going to be starting to hit the economy. they argue it was slower this time because the housing market sort of froze and because people had locked into low mortgages and low interest rates. they think the risk is that unemployment is going to rise more quickly and they point to things like student loan debt and the uaw strike, saying things could go wrong in the economy. they admit there is another side to it. there are defenses to it but looking at past performance, they think it might be predictive of future returns. sonali: the uaw strike, the student loan repayments, this is outside the control of the federal reserve.

bloomberg's michael heath joins us with the new test. israel telling gazans to move out of the north of the enclave. what is the latest on the ground offensive? michael: israel, the idf estimates that 600 thousand people have left gaza city, as you mentioned, to go south. . basically the expectation is that the ground offensive, when it happens, we'll go into the northern area of the gaza strip, the built-up areas. on friday, israel warned people not in gaza to start shifting south. it is about 1.1 million people there. only about half of them. at this stage, israel is bringing up its reserves. 300,000 soldiers have been brought up in the air gathering around gaza and also in the north where we have been seeing shots fired by hezbollah as well. [clears throat] excuse me. you haidi: mentioned the exchange of fire between hezbollah and israel, something else we are watching. is this what many are seeing as approved with a widening of the conflict? michael: yes. secretary of state anthony blinken has been doing diplomacy around the region.

matt: michael mckenzie from bloomberg news talking about bonds let's get the latest chapter on the house speaker ship battle right now. congressman mike johnson of louisiana says he believes he will be elected and has the votes. there will be a floor vote this hour so we will know. johnson receiving support from former president donald trump who posted online "i'm not going to make an endorsement in this race. my strong suggestion is to go with the leading candidate, mike johnson. which that kind of is an endorsement, right? kailey leinz joins us with the latest from capitol hill. does he have the votes? kailey: we are about to find out, the vote is beginning now but what we do know is republicans here on capitol hill were a lot more confident into this vote then we have seen in the votes prior to this. because this has been a battle over the course of weeks now. at least -- at least a phonic when she rose to give the nominating speech for mike johnson called him a friend to all and enemy to none. that may be ultimately what could get him over the finish line. there are not as many hardl

let's bring in bloomberg's michael heath.ow does this change the picture on the front of getting hostages released? >> on friday and american woman and her daughter were released and it is possible to get people out potentially before any attack potentially has reshaped the calculus of the route. it's more than 200 people who have been taken hostage in various states of health. some are wounded, some are old, some are young that seems to be the word coming out that israel is prepared to allow things to take their course and perhaps reshape its ground campaign based on the idea. shery: we are finally seeing the rafah crossing into gaza, how much aid have we seen trickle in and what is the situation? michael: there's been two loads that have gone through and they're saying this is a drop in the ocean compared to what is needed. there's about 40 trucks that are supposed to come through and today is the hope for that. hundred passing through a day would meet the requirements of the humanitarian crisis but a lot of people went dow

matt: michael scholl on bloomberg surveillance was saying the fiscal situation, of which the fed has no control and up either does anyone else is problematic in that we are running massive deficits, $1.5 trillion are on -- on track for more than that this year and we have a huge debt, $33 trillion almost federally. that was going to eventually necessitate yield curve control from the fed. what do you think about the possibility the bond vigilantes have been awakened and are going to punish the u.s. government? >> i think the bond vigilantes have awakened. we examine the driver of the premium in the last couple months because that is driving the 10 year yields increase. my observation that over a period of 40 to 50 years, history is either the fed's qt or the u.s. government fiscal situation that drives premium off and i think persistent upward movement we have seen the last two months fits with this historical pattern of what drives term premium. looking at the u.s. fiscal deficit this year, it is likely to be 6% of gdp if there is a mild recession as we foresee around the end of thi

. >> it reminds me, the third term of michael bloomberg.ed the polling puth, reporters were asking, who did you vote for and why? i voted for bloomberg. i'm a little depressed about it, but i did vote for him after all. he's doing a pretty good job. is that possible? >> i don't know. you don't like winning? you don't like legislation passed? you don't like a president who can navigate two world wars at the same time? honestly, i don't understand it. >> by the way, we can't even talk about this at home. >> going against a man indicted. it's not like he is running against a solid conservative republican. >> i think, also, wondering if people -- >> also, jonathan, there's a lot of things that provide data analysts inside the white house no comfort. that's another thing. donald trump is going to probably be tried in the washington case. i don't know how he's not found guilty. >> he's already been found to be a fraudster. >> there's going to be a fourth trial, and that judge is going to hold firm. there's going to be a trial. >> right. we don't

let's bring in bloomberg's michael heath, who has been listening to this national address by presidentd out at you? >> he is appealing to the best of america, the best of american leadership, american alliances and american values. the underlying tone there is to reject appeasement. he did not mention munich -- but if you don't deal with these things now, they get worse later. what was really interesting was he sought to combine the two conflicts. iran has been supplying russia with drones and weapons to fight ukraine. iran also is a key backer of hamas. these things are linked. he is sort of trying to rally the population. that if america stands up now and does the right thing, it will benefit the future. it's like an investment. i thought he did that successfully there. shery: what i found interesting as well was the way he started this speech talking about palestinians' human rights and hamas' actions. he also mentioned his conversation with president abbas. was there a little bit of a change in tone in terms of unconditional support for israel? weighing in the fact that it cannot l

michael: yeah, thanks. bloomberg is reporting that there is an informal understanding that this $6 billion was part of the prisoner swap between the u.s. and iran that once that swap occurred that there would be some oil money released for humanitarian purposes. the u.s. and qatar have agreed to hold back on that, as the white house with the biden administration looks into to what extent or whether iran had involvement in saturday's attacks by hamas. iran said that was a purely palestinian decision and ed acknowledge that it has trained hamas but was not aware of what was going to take place on saturday, but this is obviously a big issue because any suggestion that iran had a direct and in this potentially widens the conflict beyond israel's borders. shery: what is happening on the ground now? we heard about israeli jets hitting targets in gaza. are we hearing more about the possible ground incursion at this point? michael: yeah, israeli troops have massed on the borders of gaza. the latest reports say 1300 people ha

riven capital --rithm chairman and ceo, michael nierenberg joining us next. this is bloombergr wall street beat. we look at what is buzzing on wall street and the world of banking and finance. we have a new accepted bid for sculptor capital. -- bloomberg sonali basak is joining us. and also michael nierenberg the chairman and ceo of rithm capital . sonali: thank you for joining us if you have not heard of rithm it is because it is a new name. when we fast-forward to today, you look at about $1 billion worth of acquisitions in six months including a human it -- a unit at goldman sachs, what is your ambition and what you are trying to accomplish here? michael: the company was started in 2013 as a spin out. our whole team came from fortress. we built the vehicle that started in 2013 and we raised capital to $7.2 billion in equity today. the goal is to become a world-class global equity manager. it is an important piece when we look at where we go on a forward asis. sonali: sculptor -- basis. sonali: sculptor has made an impact. there have been lawsuits, there's billionaires, bidd

shery: bloomberg's fx and rates reporter michael wilson there.ection season has begun with investors watching closely if the next government will continue or append a presidential key policy. he spoke about the country's ambitious growth plans in the first episode of latitude with haslinda. >> if you are proud that you have a bullet train when even the u.s. does not have one? >> yes. >> it is just one of dozens of aggressive infrastructure projects that the president sees as a way to meet his ambitious growth target. >> it came at a high cost, $7 billion? overruns of more than $1 billion, is it worth it? >> >> but profitability does matter. how do you ensure that state owned companies, that the government are not settled with debt that cannot be paid back? >> before all these were started there were studies there were calculations all were calculated. paul: you can catch the full interview on the premier of latitude on thursday at 8 p.m. hong kong time. up next we will be speaking with j.p. morgan on their global payments strategy and the sort of

bloomberg economics and policy editor michael mckee talking to us about jerome powell's interview there with david westin. let's get over to kathy jones, at charles schwab. during that speech we saw real moves in rates, especially at the long end. what do you make of the climbing curve? chair powell: i thought it was interesting the initial reaction was the short -- the yields came down and then we kind of reversed that and we started to see the curve re-steepen. i don't know there was anything particularly fresh in what powell had to say. that may be what is reflected in the continued steepening of the curve. what you are seeing is a focus on how long the fed has to stay on hold to slow the economy and cool off the labor market even more. those are the two big criteria for the fed. we want to see the economy slowed to a more sustainable level, 2% or less. and to see the unappointed rate go up and the wage growth slow down. it leaves the door open to another rate hike. that has the market concern. matt: as mike mckee just said, it really seemed like jerome powell was getting on the same

the inflation report with bloomberg's michael mckee. good morning.hotter than anticipated with cpi up .4%. the forecast was .3%. that is down from .6% the month before. the core comes in up .3%. year-over-year unchanged from where it was in august. the core 4.1%, that is down from 4.3% in august. relatively good news. we will look at what the numbers break down to. let me pass along the jobless claims are still confounding. 209,000 on the week. that is not what was expected by analysts looking at these autoworker strikes and thinking some people might be off work. one million 702,000 for the overall numbers of continuing claims. or people on the jobless rolls staying on the jobless roles but neither one move significantly. at this point i would say this is fed friendly but does not beat you over the head kind of day in terms of what you think they will do. jonathan: it is a slight upside surprise on the headline number. it wakes up the bond market. the two year yield is higher seven basis points. was below 5%, now north of 5%. big moves on the 10 yea

later, she will speak with charles michael and roberta, interviews you do not want to miss, right here on bloombergevision. in the meantime, rishi sunak has canceled some of the high-speed rail project. he is committed to positioning himself as the change option. his government trails the labour party and some polls by around 20 points. >> i am ending this long running saga. i am canceling the rest of the project and in its place, we will reinvest every single penny , 36 billion pounds, in hundreds of new transport projects across the country. this means 36 billion pounds of investment into projects will make a real difference across our nation. kriti: return to germany where the economy is headed for force into a recession for the first time since the pandemic. long-term headwinds including a dwindling workforce. an uphill battle for many companies, particularly smaller ones. for more, oliver joints me now. there is a lot to digest here, talk us through it. >> they call germany the engine of europe but germany has its own engine. small, medium-sized enterprises. we are talking around 60% of all jo

bloomberg surveillance. it is our special the fed decides honor to have richard with us. honored to have jerome powell with us. michael surveillance. if you're trying to get a view of the whole organizational financial health and you're trying to do that through multiple systems, that makes it very, very cumbersome. ♪ it's not just tech, it's not just people. it's how they work together to provide that experience to the customer. as a finance organization that is what you want to do. ♪ you want to be able to provide your child as a with the tools orion that resources they need.do. with reliable internet at home, through the internet essentials program, the world opened up. fellas, fellas. that's how my son was able to find the hidden genius project. we wanted to give y'all the necessary skills to compete with the future. kevin's now part of this next generation of young people who feel they can thrive. ♪ ♪ you want to be able to provide your child with the tools or resources they need. with reliable internet at home, through the internet essentials program, the world opened up. fellas, fellas. that's how my son was ab

shery: michael wilson, effects and rates reporter for bloomberg with the latest on the japanese yen andajectory of the doj as we continue to watch it holding at 14986 level. very close to that 150 level as we await the latest september trade numbers as well. the expectations for the trade deficit to have likely widened in the month of september. you will see offshore yuan holding at that 732 level. we had seen a little bit of support were china's economic growth topping estimates. we had strong consumer spending. all of that really setting the aussie dollar and the kiwi dollar higher. be sure to tune into bloomberg radio to hear more from the days newsmakers and get in-depth analysis from the daybreak team broadcasting live from our studio in hong kong. listen through the app, radio plus or bloombergradio.com. plenty more ahead. stay with us. ♪ shery: breaking news out of japan. we are getting export numbers rising, surpassing expectations of a 3% growth. this leaves the trade surplus at six to 2.4 billion yen. the estimate was for deficit of more than ¥450 billion. imports contracted 1

more on how z/yen is reacting following tuesday's policy tweet, let's bring in bloomberg's effects in great reporter, michael the governor spoke, 15127 at the moment, what's the power from here and do you think the door still open for the ministry of finance? michael: i think we have to get past the fed. the ministry of finance data, which was zero. it is significant because we did spend half the time, like 145, 150. there was talk of a great check, but they never got the check book out, and that's a test of approval for current levels. it does speak to fundamentals in terms of interest rate differentials. i think they mention the word fundamental this morning, he said there's a few fundamentals missing, or something like that, and that is a bit of a signal in that the market might be getting ahead of itself. and maybe just giving them something to think about that they don't run away thinking they have tested approval to get long dollars in silver yen. trying to force to boj's hand and see if they intervene. we could see a situation where dollar-yen closes above 150. we are looking through the last quarter

michael nathanson the new york yankees. we do that next. this is bloombergw ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. what do you see on the horizon? and manage your investments uncertainty? or opportunity. whatever you see, at pgim we can help you 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. >

michael contopoulos and will smith. still ahead, the final spread. big tech earnings and inflation data coming up. this is "really yield those quote on bloomberg- "really yield" on bloomberg. ♪ license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh sonali: and sonali basak and this is "bloomberg real yield." microsoft, alphabet, ventilating and air the beds preferred gauge of inflation throughout next. -- alphabet, meta and defense preferred gauge of inflation throughout next week. a lot of uncertainty ahead. same place next week. this is "bloomberg real yield" and this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i evern a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and takin

up next, we speak with michael and get his thoughts on china's growth trajectory. this is bloombergnping is set to tighten control of china's financial industries. he told bankers to set the direction for the next five years. they will host a conference in beijing later today at a pivotal time for the country amid questions over political and economic trajectory. china's stimulus and diplomatic moves provide calls for optimism when it comes to markets. the benchmark posting the biggest weekly gain in two months. investors showing at north guard star connect. we'd seen all the gains from the reopening rally wiped out and restarting to covid zero levels. let's get some views in terms of an existential crisis that china's economy is facing. michael is professor of finance at peking university. you have written about china's economy for a very long time. with the passing there seems to be a lot of reflection about the development path and reform path not taken root do you see further centralization and such in the future? >> the adjustment china is facing is difficult enough that it pro

jonathan: michael o'rourke of jones trading coming up next. this is bloombergs overall economy overall, much less than we would've expected. >> the fed reaction function is to make sure growth slows below trend. >> while i do think 2024 cuts are still on the horizon, there are starting to be some doubts about how many cuts come about when. >> investors are going to start to look toward the end of 2024 and give up on looking to the end of 2023. announcer: this is bloomberg surveillance with tom keene, jonathan ferro and lisa abramowicz. tom: radio, television, same as monday. markets on the move. it is about price down, yield up. take your weapon. i'm going to go with the 10 year yield, a benchmark yield. jonathan: same story, different price. new cycle high on a 30 year. the equity market break down just a touch. is it about the data? data was good yesterday. better than many people expected. is it about yield curve control out of japan? is it about the debt issuance out of the united states and washington, d.c., or is it about china? take your pick. you said p

michael: there was a great story in the bloomberg terminal talking about how they are supposed have athat group in names is over 50% this year so that is priced in but it shows those names drive so much earnings against the rest of the s&p 500 will be down 5% so i think that is what people are clinging to. the second-best earnings growth is expected to be from financials up 31% in that group is down here today and we need to see investors shifting their focus outside some names. if you want to invest in those companies, do that but there are opportunities in this market that people should look for but we are not there yet. everyone is betting on the index and i think -- jon: thanks for your input. i message sonali basak and this is important, whenever you bring what they are saying about the consumer, you need to think about which consumer. when you hear from brian moynihan, they say the consumer is healthy. this is the consumer they are talking about, thanks ali for passing along this slide -- thanks sonali basak for passing along this slide. lisa: all of the big banks have been upgr

michael depaulo, jim bianco, and terry haynes.from new york , this is bloomberg. ♪ at ameriprise financialll that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. tom: bloomberg surveillance, lisa abramowicz, in tom keene. jonathan ferro is off preparing. the president's comments near 1:00 p.m.. we hear sirens in tel aviv. lisa: waiting for what? that is important. the markets are waiting for something. the war that you referenced has changed the narrative with

michael bennett. office prices in the u.s. are heading for a crash. we will talk about what that means were commercial real estate with chris merrill. money undercover is next. this is bloombergday, we bring you money undercover, a look at less visible parts of global markets. today we are looking at real assets including commercial and residential real estate and infrastructure investments. lisa abramowicz is here now and chris merrill is here as well. lisa: thank you so much. this is a wonderful moment to be talking about commercial real estate, residential real estate, infrastructure spending at a time when treasury yields just hit a new post 2007 high with mortgage rates the highest levels going back to 2001. from your vantage point last week we talked to a commercial rose ceos says we think we are seeing the bottom of office space prices. do you agree? >> it's great to be here. that's a tough one. for us and for our business, for two decades can we focused on alternative real estate so we've done it to stay away from the traditional sectors. with the office market, there is certainly going to be the have and have-nots in that sector. there is a lot of uncertainty and i t

bloomberg senior japan economist taro there. senior policymakers have been sending mostly hawkish vision even since the last report showed some of the slowest inflation since 2020. supervisor michaelar a sufficiently restrictive level. and cleveland chair loretta mester said a round of increases will likely be needed one more time. as the bank of australia makes its first rate call on tuesday under a new governor, michelle bullock. most expecting cash range not going to change. likely to stay at 4.1%. apart from the governor, anything else likely to change? what are we watching for here? >> the broad message is going to be that that's a hawkest hold. so we are holding interest rates now but that doesn't mean we will not raise rates in the future. there is still concern about inflation and especially with oil prices going up again. i think they'll likely still talk about some of those concerns. probably talk about high hower household indealtedness and how cob samples has kind of weakened but investors will mass the statement very closely for any small change. that's going to be the key. shery: will that help at all when it comes to cooling down the property sector? it seems that's

bloomberg yesterday. from new york city, welcome to the program. s&p 500 about unchanged. 0.01% negative. yields lower michael basis points. 4.71 the 10 year. the adp report downside surprise, the appetite for payrolls tomorrow. jobless claims later this morning so i know they read on u.s. labor market. tom: one quarter of tom keene is an island north of norway and they came over from northern europe and they went to the midwest. they went from western ohio, western michigan, up to fargo. it was a hold germanic and dutch exit. the accents are different until the 19th century. huge and i use of english and our next guest is a real republican from a conservative dutch part of this united states. jonathan: i thought you were saying i am one quarter of tom keene. [laughter] jonathan: bramo, that is ru de. bill huizenga joins us now. we think we have seen for the last 36 hours and i thought of you, people of new greenish identify as a 4% of gdp. we went from lincoln, southwest of your family's heritage, how do you get back to control of the party, control the narrative? rep. huizenga: that is a great question. i h

michael mckee and claudia. coming up, we look again at the markets trying to get to the open. joanne feeney joins us from advisors capital. bloombergears ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. >> the are not detecting any clear signs of financial stress. these anomalies are concerning and we actually think that the system can withstand rates to 5.5% and it is how quickly they will get there. lisa: that was the chief global strategist at principal asset management and we are seeing stasis in equities as we see anything but in the bond world. that is one of the big takeaways. the s&p futures are risk off but to me it has been relatively immune to what we are seeing with 10-year yields nearing the highest levels back to 2007. tom: talking about the non-correlations and they are there in spades. netflix is a component that i cannot remember. there is some green on the screen after some red two hours ag

bloomberg intelligence. capital markets looking for 5% to 10 year yields on the horizon and it doesn't speak to the instabilities it will bring to the economy. one final question of michaelave underestimated the strength of the economy, including the fed. it does change the game you little bit. 206 is 6000 average each month for the past three months. that is not an economy going into recession. average hourly earnings did not rise very much. if cpi comes in, how you position the bonds? tom: our final guest is lisa abramowicz. the heart of the matter. rosenberg, is your world. how to remove rifle faith and credit analysis from credit to stress. what do you think will be the ramifications? lisa: what we have seen is the worst selloff in credit going back to march. at this point, this is where we start to see people worried about refinancing risk one year out and two years out. when does this become a self killing cycle where these yields have to come down before something breaks? i don't know the answer and i don't think anybody does. tom: an historic market -- historic moment for the markets. stay with bloomberg television and bloomberg radio. jonathan ferro, next. ♪ jon