he is at the ndp headquarters, the ndp is expecting to do better this time, what is the mood there?remely optimistic, but very cautious. the ndp started off this campaign heading towards some pretty challenging elections because they didn't have the fundraising they needed, they were looking at potentially losing all of their seats in quebec and they had an unproven leader in jagmeet seats in quebec and they had an unproven leader injagmeet singh. it is fairto say unproven leader injagmeet singh. it is fair to say he has exceeded expectations on a number of fronts. he did very, very well in the television debates, he has being rallying support —— has been, and motivating ndp supporters. their coffers, although very insubstantial at the start of the campaign, are closed to fall by the end of the campaign. and it does appear that will have motivated a large number of younger people and indeed indigenous people and other groups who feel that they want to support a progressive alternative to the liberals party ofjustin trudeau. yes, jatinder sidhu, we saw when we visited british columbi

showsatform of the ndp $130 billion in the next four years.m iserals' another 92 billion in addition to the 72 billion they incurred. people don't focus on them because they are so big but they translate into waiting time at hospitals, education, infrastructure, potholes in the road. shery: we are now seeing a slowing global economy in the u.s. the numbers are not looking all that great. would this be the time for more about lightning or time to ask for more spending to boost the economy? joe: i'm sorry, i did not hear. amanda: in terms of the spending we may see on the economy, you note there could be an economic implication from whoever is in power. will there be a stronger reaction then people think? joe: the market will wake up to the fact that we have a government now which has no intention of balancing the budget, as far as the eye can see. this will be doubled up, maybe tripled. we would not be talking about deficits of 20 billion but 40, 50. in a downturn, as you know, automatic stabilizers come in, revenues go down, stimulus spending.

also a rise of the ndp factor that nobody really saw.e could be in for minority government territory here. the biggest winner out of the election could be the smaller parties. evan: that is why what you're seeing in the final week is what we call project fear. if you vote for them, the other guy will get in. the math in canada is fundamental. you have four parties that can make a difference, the conservatives, the liberals, the ndp, and then the separatist quebec party. if you vote for the ndp or the block, you'll get conservatives. now it is fear and loathing on the canadian campaign trail. in canada of course at the electoral college in the u.s. and say what a weird system, but we have a weird system, too, and then the most popular person doesn't always become the leader. in this case, the vote splitting seems to be on the left. when we talk about how tight the race could be, is there a scenario where the splitting of the left actually sends the conservatives a majority government? evan: 100%. conservatives love the vote split. you hav

jagmeet singh of the ndp may gain ground on the left. so could the greens of elizabeth may.s is making a comeback. and maxime bernier heads the new right wing people's party of canada. in canada's elections, there are actually 338 separate races. local candidates competing in federal ridings across this vast country, battling for seats in the house of commons. at parliament, much like its british namesake. and if any one party wins 170 seats or more, there will be another majority government. but it looks more likely to be a minority one — a hung parliament. this matters in this selection — the votes of young canadians — for the first time ever, the under—35s make up the biggest block in this election. and groups like this, get out the vote, are organising on university and college campuses across this country, urging young canadians to understand why their vote matters. in 2015, the election which brought justin trudeau to power, there was more... you don't believe in voting? i voted, but i don't believe in it. laughter. everybody has an opinion here. those elections in 201

they are benefiting basically from what we are seeing is a shift from the ndp and the people who saide ndp but was still open to changing their mind in the dying days of the campaign, who looked like they switched over to the liberals. conservatives always knew what their vote base was going to be. they knew it was locked in an solid and they were waiting to see what would happen with vote splitting and we are having an indication of the tonight. perhaps the biggest irony is thatjustin trudeau came to power in 2015 promising election reform. it was a promise he broke and it could be very different tonight had the promise. indeed and perhaps there is a reason he did not keep the promise after all. would be that strategically for political reasons the party knew that the prime minister knew that that was the right move for the liberals, perhaps not the right move or canadian democracy. in the days to come... this is not a clean win for the liberals underjustin trudeau. they will take it, they will take it anywhere they can get it but they cannot necessarily say they have a mandate to go

it may have been that ndp voters on the left of the political spectrum, who initially enthused by thent and the campaign of their leader went to the ballot booth, had a moment and said, we are more motivated by blocking a conservative government than by seeing our own party do well. and that may have beena party do well. and that may have been a major factor as well. so a minority government it looks like forjustin trudeau. what will it be stable? which party will hold the balance of power? coalition governments are a rare thing in canada. when we talk about an official coalition where a party will support the liberals, maybe givena will support the liberals, maybe given a seat at the table of government to have members of the party appointed to cabinet. we have not had a true coalition government in 80 years. longer than that, possibly. but what we are likely to see, what may come to pass is what we saw in 2006 and 2008 under the prime ministership of the conservative leader stephen harper. he governed for two terms in a minority situation by doing a handful of things. number one, da

more discussion of coalitions this time with the ndp and the left, jagmeet singh.o issues of climate change. he once said, i would join the liberals in a coalition, got some pushback on that. and andrew scheer, basically fear mongering, saying, look how much that will cost us, if the liberals and the ndp form a coalition. people did fact checks on that, and the things he had accused the new democrats and liberals of doing, raising taxes, etc, has never been said by those particular parties. a lot of discussion about it. one of the big issues is, who gets the chance to form a minority government, andrew scheer of the conservatives is saying, if i get more seats, i will form it. that is not the tradition in canada, president says that the prime minister does not get pushed out of office, he will only get pushed out if he resigns or dies or is dismissed. he will remain in power, evenif dismissed. he will remain in power, even if he only gets one or two seats less, he still gets that first chance to try to form a government and show he has the confidence of the house.

his conservative challenger, andrew scheer, calls him a fraud. 0n the left, the ndp's jagmeet singh is trouble. he approved a new pipeline to move canada's vast oil wealth to this western shore, and offset it with environmental safeguards and a big climate plan. but critics say climate champions don't build pipelines. over 200 people were arrested, standing right here. 22—year—old hayley zacks is a leading activist. the under—35s are now the biggest voting block, and some feel let down. i think a lot of us were persuaded byjustin trudeau in the last election. he was young, he was making all of these great promises. he hasn't come through on the promises that we voted him for, for climate action. he said he was a feminist, we haven't seen that in action. trudeau—mania hasn't died. he still draws crowds. supporters ready to forgive, even scandals like the brownface photos which surfaced. everyone deserves a second chance. i know certain things like this can happen. and that's with everyone. i mean, nobody‘s perfect. of course, i don't agree with those things. but i really, really see a b

jagmeet singh of the ndp may gain ground on the left. so could the greens of elizabeth may.back. maxime bernier heads the new right wing people's party of canada. in canada's elections, there are actually 338 separate races. local candidates competing in federal ridings all across this vast country battling for seats in the house of commons. at parliament, much like its british namesake, if any one party wins 170 seats or more, there will be in the there will be another majority government. but it looks more likely to be a minority one. a hung parliament. this matters in this selection — the votes of young canadians for the first time ever, the under—35s make up the biggest block in this election. and groups like this, get out the vote, are organising on university and college campuses across this country, urging young canadians to understand why their vote matters. in 2015, the election which broughtjustin trudeau to power, there was more... you don't believe in voting? i voted, but i don't believe in it. laughter. everybody has an opinion here. those elections in 2015, mor

has beenine expansion approved, so hopefully that will go through despite the ndp's opposition.corridor through quebec. i think this is quite an interesting period moving forward. romaine: our thanks, tony stillo, giving us insight on what is going on in canadian politics. let's turn to u.s. politics. elizabeth warren has long been known for criticisms of wall street. now she is waiting in to the repo debate. she sent a letter to treasury secretary steven mnuchin basically warning about the fed sort of trying to rebalance that as an opportunity to loosen regulations. joe: it is a really interesting question. the question that emerged when repo rates spiked, why did the big banks like jp morgan and so on, who are sitting on excess warren, -- elizabeth what she is legitimately curious about, using it as the pretext for loosening liquidity requirements imposed after the financial crisis so they could be orderly wound down. should theytion of loosen the requirements or add more reserves? caroline: it sort of sets her up with further fights with wall street. romaine: it comes the day

that could be tricky because the ndp don't want that built, and they would be voting with him. they may be able to find other partners, where they needing to put past some sort of law that expansion. i think more broadly, investors will sink trudeau and his base will not want unabashed expansion of oil in western canada, so peace trying to have his cake and eat it -- so he's trying to have his cake and eat it, too. him -- this is at a minimum a warning sign to the energy sector, though how it will play out is unclear. his ministers saying today that they still want to build that pipeline. guy: we will watch with interest. josh wingrove going us on the outcome of the canadian elections. let's take into capitol hill. treasury secretary mnuchin is giving testimony right now to the house financial services committee. hud director carson will be joining as well. if you want to watch this on your bloomberg terminal, you can do so. live is where you will find it. this is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. romaine: from new york, i'm romaine bostick. this is "bloomb

lake county, you're getting west winds now or the southeast or west southwest comes zagunis ndp the wind speeds are down, and we don't have to worry about any low dropping in , generating those strong come offshore breeze or winds, but it's going to be a dry pattern, but at least it is dry in normal, which means 60, 70s on the temps. did go 77. don't forget this weekend, the nights will be getting much longer as we set our clocks back. >> bedtime is like 5:30. >>> conditions are improving. firefighters will not have to deal with wind speeds in the kincade fire, and there's more good is to bring to you from sonoma county. cal fire did report the fire do not expand overnight. fire crews were helped after fire conditions ended yesterday afternoon. is still burned 120 square miles in area. is about 18 miles ago, it's now 60% contained. 282 building, including 121 homes have been restored. the kincade fire would cal fire's public information officer. thank you for joining us. >> thank you for having me. >> 50% containment number, if you like respectively turned a corner here in the past 24 ho

the athletes could be the ndp and the block. alix: thank you, jon erlichman. we are getting a slew of earnings this morning. when he five companies reporting -- 25 companies reporting. >> we have biogen through the roof right now. they are seeking fda approval for an early alzheimer's harley davidson also beat estimates. you can watch the s&p futures right now on the news turning positive slightly. wex: here's another story are watching. softbank has offered to take a majority stake in troubled startup we work. that's a fall from the $47 billion valuation we work obtained from softbank just last january. j.p. morgan is offering another rescue plan that involves junk debt. jetblue also in the spotlight here. these earnings are good unless you are hasbro. are i about 7% beating adjusted earnings as well as operating revenue. hasbro totally different story. the tariffs actually cut into toy sales. we are waiting for the tariffs to affect the consumer and in terms of hasbro it appears it is finally moving into that sector. tomorrow on bloomberg daybreak: americas,

could come from the ndp party.better off than where some thought they would be eight weeks ago. find thehave to balance of party with those parties who have been very against pipelines so there's going to be a very interesting economic story playing out here. the conservatives lost. what is the new in administration going to mean for the oil sector, the carbon tax, the environmental policies that trudeau has been pushing? >> i think this is at the center of what we are going to be watching very closely right now. with respect to that carbon tax have feltare many who like that has been a competitive disadvantage for canada even though it does help to offset some of those concerns about climate change which were very real. under a conservative leader, andrew scheer, they had talked about wiping away the carbon tax within 100 days of office. we are no longer talking about that. i think the balancing act because justin trudeau has already committed to trying to find the balance between climate change in the energy sect