to do you like some stuff and moves everything happening in new york it's like february right but then it it literally. goes new york london malign. paris boom boom boom four weeks in a row. and they're back to back. and i don't know what will be a part of the mind of the part of anything but hopefully it's still not something . if i can find the page that i was on. some confirming to one of our biggest of. yeah barbie allowed the soviet times this week. him because the window my man willing to savannah just ahead. that have german in high and into her little. th. so if you ask me what i talk about when i'm at school. i'll give is back to the knees we have lots of opportunities that come out of the fact that she's such a good speaker now and people want that story as you build a name for yourself. it opens up of the kind of the opportunity to build a business out of it model a model of the. mother i'm of the mind. one to go look a little cement oil hi way money from them when my son just like how it. progress you know for us on the go button. on the left has the locust hunt carson idea. i think all of those things that we

joining us next, new york's lieutenant governor. from londonork, this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. senate majority leader mitch mcconnell has given president trump cover for challenging election returns. mcconnell says the president is within his rights and has no obligation to accept projections based on vote counts that joe biden won. mcconnell and other republican leaders in congress have not congratulated biden since news media called the election in his favor on saturday. obamacare returns to the supreme court today. justice will hear arguments over whether the affordable care act is constitutional. the trump administration and conservative states argue that it is not. they say the entire law was rendered unconstitutional when congress eliminated the penalty on those who remained uninsured. if the majority conservative court agrees, more than 20 million americans could be left uninsured. u.s. regulators could give the boeing 737 max the ok to resume commercial service as soon as next week. the faa is

melanne, new york, london, and to the big festivals, including the iconic by roy, with lohengrin, am, was, and to salzburg, of course, with fidelio yunus come from and took on the great tenor role and was internationally celebrated. feature is incredibly versatile in terms of his repertoire. few singers are as adept in german, french and italian reppert 3, whether it's opera or leader. he's just as versatile stylistically confident and musically vivacious. in everything he does who gets to finish school games or common verse? if you're not, there's so many levels to pass through to arrive at what we call singing. and at the end of the day, and that's the essence of it. the singing has to become 2nd nature and it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it. we breathe without giving it any thought and singing as to become equally automatic. this was a good also and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the role of the early evening. final pre

midland, new york, london, and to the big festivals, including the iconic, by roy it with lohengrin, am, was and to salzburg of course, with the daily oh, universe come from monk, so called the great tenor roles and was internationally celebrated. the feature is incredibly versatile in terms of his repertoire, skipped a few singers are as adept in german, french, and italian 3, whether it's opera or leader. he's just as versatile stylistically confident and musically vivacious. in everything he does who wants to finish the game? so common of us vietnam, there's so many levels to pass through to arrive at what we call singing and at the end of the day, and that's the essence of it. the singing has to become 2nd nature and it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it that we breathe without giving it any thought and singing as to become equally automatic. this was a good also and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the road. early evening

this is bloomberg. ♪ ♪ ♪ jonathan: from new york and london, for our audience worldwide, good morninge tom keene and lisa abramowicz, i'm jonathan ferro. what a morning worldwide for this market. encouraging news out of pfizer. equity futures up 3.6 6%. there is a huge cyclical tilt to this market move. lisa mentioned the airlines. the likes of american airlines up more than 20% in premarket trading. treasuries lower, yields higher to 0.90%. in the commodity market, up about 0.5% on wti. a $40 handle.d , short-term one. covid cases up, record highs in the united states. that's the short term. on the horizon over the long-term, things could get better. from the president and the last couple of minutes, "the stock market is up big. vaccine coming soon, report 90% effective. such great news." tom: it's good to see him surface here. he's been quiet for four days. he does not have a schedule published today. maybe that will change with his stock market up. 128.37%s&p futures up -- 128.3, 7% as well. the statistics of medicine is profound. mercedes carney fund confronted carnethonrcedes con

melana, new york, london, and to the big festivals, including the iconic, by really with lohengrin am was and to salzburg of course, with the daily oh, you want to come from and took on the great tenor roles and was internationally celebrated. feat is incredibly versatile in terms of his repertoire. few singers are as adept in german, french and italian repartee, whether it's opera or leader, he's just as versatile stylistically confident and musically vivacious. in everything he does. who else has kept to finish school games are common to both of you and there's so many levels to pass through to arrive at what we call singing and at the end of the day. and that's the essence of it. singing has to become 2nd nature. it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it. we breathe without giving it any thought of singing as to become equally automatic. also. and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the role of the early evening in nakedness. final

melana, new york, london, and to the big festivals, including the iconic, by really with lohengrin am, was and to salzburg of course, with the daily oh, you want to come for monk took on the great tenor roles and was internationally celebrated faeces, incredibly versatile in terms of his repertoire skipped a few singers are as adept in german, french and italian record 3, whether it's opera or leader. he's just as versatile stylistically confident and musically vivacious. in everything he does who else was kept to finish school from the intercom of us to vietnam. there's so many levels to pass through to arrive at what we call singing and at the end of the day, and that's the essence of it. the singing has to become 2nd nature and it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it. we breathe without giving it any thought and singing as to become equally automatic. this was a good also and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the role of the ea

jonathan: from new york and london, for our audience worldwide, good morning. this is the second hour of "bloomberg surveillance," live on bloomberg tv and radio. typically alongside tom keene and lisa abramowicz, i'm jonathan ferro. hyde is here this morning. you and i are operating into different time zones. we've got to work through a brutal here and now on both sides of the landing. -- the atlantic. lockdowns are coming to an end on your side of the atlantic, but i wouldn't want to get up early for anyone else. at the moment, i am seeing some market action that just speaks to this rotation not having that much longevity this week. bettern: this is much than what tom gives back. perfect timing. let's get to the price action this friday morning. we do head towards another week of gains on the s&p 500, set to add just a little but of weight to it. up 0.25% on the s&p. the posture just a little bit more defensive. small caps underperforming, big tech outperforming. $1.1920, up about 0.1 percent. huge calls coming through on the euro for 22 anyone. do we have 8

melanne, new york, london and to the big festivals, including the iconic by really with lohengrin am was and to salzburg of course with the daily. oh you want to come from monk took on the great tenor roles and was internationally celebrated. beefeater is incredibly versatile in terms of his repertoire. few singers are as adept in german, french and italian reppert. whether it's opera or leader, he's just as versatile stylistically confident and musically vivacious. in everything he does who else is good to finish? school games are common of us if you're not, there's so many levels to pass through to arrive at what we call singing. and at the end of the day, and that's the essence of it. the singing has to become 2nd nature and it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it. we breathe without giving it any thought and singing as to become equally automatic. this was a good also and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the role. it's early

new york. whole foods in london is so much nicer than whole foods in new york. how can that be?at make sense? i don't think that makes sense. tom: we all shop at whole paycheck. i get that. pristine,the edge of and the other one will be a total dump, and the next one is even worse. i don't get it. jonathan: i know for a fact where you go because you spend an extra 20 minutes in a cab to go to the one that you prefer. lisa: seriously? tom: can't make this up. i told the manager at the whole paycheck i go to that they should pay mrs. keene to come to the store. if you compare and contrast the normal cart from the attended by mrs. keene cart, she bought bezos' fifth house. lisa: if you go into a whole foods and you see a very tall railing about the apples -- jonathan: i can tell you where he will be. [laughter] and i can tell you from where he lives, there is one right around the corner that he refuses to go to. the threebuying dollars 625 since pesto. she is buying the stuff from italy. jonathan: she's doing the right thing. because she is doing that, they can give us a nice pharm

from me, tom brook, and the rest of the talking movies production team here in new york, london and berlinrselves in between weather systems. so, actually, for a time there will be something drier and brighter. only for a time, another the weather system is coming in with more rain. here it is, that's the one that brought us the wet and windy weather over the weekend, but here is the next one. and in fact we'll start the day with a few outbreaks of rain from monday morning, for, particularly, parts of scotland and northern england. and that's going to fade away. it's a cooler start to the day than we have had recently. and by lunch time much of the uk will be dry, there will be some breaks in the cloud allowing some sunny spells to come through, but remember that next weather system gradually increasing the cloud through northern ireland, wales, and the western parts of england. we will get some rain moving in during the afternoon. also reaching into words the southwest scotland. eastern areas will stay dry for daylight hours, anyway. it will begin to turn a bit milder again with the arriv

so, from me and the rest of the talking movies production team here in new york, london and berlin, itready delivered enough rain, well stand by — there is more to come. and along with heavy downpours during sunday, for some of us, it will be even windier particularly along the english channel coast and for the channel islands, and that's as this area of low pressure stays close by as around it spiralling will be these bands of rain or showers. so, it really is the case of rinse and repeat with the occasional blow—dry. and some of the rain will be heavy particularly across southern and western areas as we start the day. nowhere starting particularly cold but particularly wet across south east england during the first part of the morning where some of the rain here could be torrential with a risk of flooding. now, a lot of the early rain will push on eastwards allowing many of us to brighten up for the afternoon with sunny spells, but with further showers. more persistent rain continuing in south—west scotland. and then through the afternoon, another spell of heavy rain runs along south

from new york and london, good morning.de tom keene and lisa abramowicz, i'm jonathan ferro. boss coming out and saying that over the next year, if you want to get on our international flights, you better have taken this vaccine. maybe that is where the policing comes from, not from governments, from corporations. i should point out also klm is looking for a dutch bailout earlier this week. right now on new york state is a proxy for america. why do i say that? it is not about tiffany earnings today on fifth avenue. it is south of buffalo new york, to yorkville and over to warsaw, and the pandemic is out of control. kathy hochul knows this territory of governor cuomo. she is lead -- the is the isutenant governor -- she the lieutenant governor. it is not about the beds. it is about the staff and hospitals. how critical is hospital staffing in the empire state? lt. gov. hochul: thank you for having be back on the show again. that is absolutely the situation we find ourselves in. i was just on a control room call with all of th

from london and new york this morning, good morning.bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ♪ >> the nightmare scenario for markets would be if the un-limit rate were to begin to go higher -- the unemployment rate were to begin to go higher. >> even before the pandemic, we had a lot of frailty. measured.t it to be >> we are still in a deep recession. >> it is time to get in big end spend big in order to restructure the economy. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. from new york and london for our audience worldwide, good morning. good morning to you all. this is "bloomberg surveillance ,"

so, from me and the rest of the talking movies production team here in new york, london and berlin, itrt of the weekend isn't finished with us again. there will be some further heavy rain at times and quite strong winds, not a wash—out everywhere, some of us have had a little sunshine occasionally today and will again tomorrow, but very clearly low pressure in charge. around that these weather fronts coming in with spells of rain or indeed just heavy showers. that continues overnight and into the morning, and most of the downpours as the night goes on will be through western parts of scotland, northern ireland, wales and western areas of england, and we could well see some further rain, coming a little bit more widespread into south—east england as we start the day tomorrow. overnight temperatures, very mild for some of us for the time of year, just dipping down into single figures, but nowhere particularly cold, and a further area of rain sweeping east across england and wales as we start the day tomorrow, staying wetted to parts of northern ireland and south—west scotland as the afte

from london and new york, this is bloomberg. ♪ jonathan: from london and new york, this is "bloombergveillance." good morning to you all. just a little bit more good news, this time from pfizer in their final analysis for the efficacy of their vaccine in that trial, 95%. nasdaq futures underperform, small caps outperform. the russell up 0.7%. we have become familiar with the flavor of the story over the past couple of weeks. switch up the board. this is one of those rotation plays into the financials, and it has really performed quite nicely over the last month, not just in europe, but the united states, too. here's the story. thanks, what are they doing? borrow short, lend long. just that classic spread lending story, which is why the bond market is the proxy for the banks. play it through the bond market. you see the yield curve start to steepen out. the financial start to perform. what's happened in the last month? not what you might expect. last monday, twos-tens yield curve just south of 70 basis points. yield,urve up, steeper treasuries higher, and then we fade the move over the

from me and the rest of the talking movies production team here in new york, london and berlin, it isbeautiful rainbow here in bournemouth, but only as a consequence of seeing some heavy rainfall, and the showers are being accompanied by pretty squally winds. they are the bright white blobs you see on the satellite behind me. this swirl of cloud is the front that pushed away into the north sea earlier, but this area of cloud further north will bring persistent rain into scotland and northern ireland for a few hours. the showers, though, our primary concern, with the strongest of the winds along the south coast as we go into the early evening gusting 50—60 mph. they will calm down later on in the evening and overnight. many areas becoming drier, but more showers feeding in to scotland and northern england towards the end of the night. mild enough, lows of 6—9 degrees. so, for the start of our new week, mild, yes, particularly into the mid week, but a big change come the end of the week. it will be much colder. a little ridge of high pressure to start the week calms things down for mond

only with xfinity mobile. ♪ jonathan: from new york and london for our audience worldwide, good morningning. beautiful morning in new york city. 30 minutes away from the opening bell with equity futures flying. a vaccine breakthrough providing another shot in the arm to risk assets. >> today's news is very encouraging. >> i would be really excited about a vaccine coming online right now. >> you can see this playing out in markets. >> a surge of de-risking hedges. >> an enormous drop in the vix. >> certainly a bright day for the globe. power toccine has the drive risk assets higher, credit spreads higher come equity markets higher. >> if we get more data like pfizer and good results out of moderna, the markets will shift. jonathan: sarah ponczek joins us for more. we thought we would talk about one thing, we are talkin

from new and london -- from new york and london, this is bloomberg. ♪ ritika: this is bloomberg surveillanceere could be another takeover in what has been a record year for deals in the semiconductor industry. taiwan's global -- is in advanced talks to buy germany's new tronics for $45 billion. corner -- up 48% this this quarter for citroen next. china is overhauling rules that will govern the sin tech industry. they in the early stages of changes. a completetemplating exit from retail banking in the u.s. it would be part of its restructuring aimed at boosting profits in the u.s. and europe. bloomberg has learned that recommendations are expected to be presented to hsbc as soon this week. the bank makes almost all of its profit in asia. that is your latest in bird. francine? lisa: thank you so much. we are looking at markets that are cooling a little bit after the record-breaking month and a lot of different indices. the s&p, to give you a sense, is down .4% now to 36.20. just to give you a sense, it is up more than 11% so far this month. i'm looking at crude, given the fact that we have the

tom and francine from london and new york. it is exciting. today is a big day. we look at the dynamics in all of the swing states. two things we need to focus on. first of all, if there is a policyresidency, crucial differences -- i would point to energy, tech, and stimulus. on the other hand, we need to look at what is right for international audience. it is not about the national polls, it is about the electoral college we need to focus on. tom: not only be electoral college but the outcome. divya weston gets to election results on the west coast tonight. there are any number of ways to slice it. my opening comment for the next 30 hours is simple. we have seen this force. this is part of america, it deeply divided america. there is nothing new about that. what is new is the social media, the cable tv concentration, the emotion in your face. it used to not be that way. maybe we can all get comfortable by milford, new hampshire, where they voted early, probably without tiktok or twitter. the last when it's time we talked about a not so peaceful transition of pow

from london and new york this morning, good morning.longside tom keene and lisa abramowicz, i'm jonathan ferro. monday morning price action looks a little something like this. equities with a lift, still advancing a little more than 1% on the s&p 500. in foreign-exchange, eurodollar unchanged. there's that positive correlation, equities, bonds once again. equities up, bonds up. the other way around on friday, and that spooked a lot of people. the week ahead is absolutely remarkable. the election wrapping up tomorrow. thursday, i delayed federal decision. friday is payrolls friday. tom: i am not sure what the fed will do. i will worried about that wednesday at 5:00 p.m. our team today and tomorrow will try to give you as sophisticated a coverage as we can. brian klaas is out of minnesota. he has a cottage industry going in the united kingdom looking at the decline of democracy. we are thrilled he could join us this morning. you have been hugely visible and hugely articulate on the decline of democracy. let's begin with the u.s. can we st

jonathan: from new york and london, good morning. this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. loweray morning, equities on the s&p, higher on the nasdaq. instructions from new jersey, utah, massachusetts, and now new york joining in as well. question is without the most important issue. the blur of information we are getting, the effect on the markets, the effect on the nation's politics, it doesn't matter. the pandemic statistics, the cases, the hospitalizations, and yes, rising death rates are front and center. jonathan: couldn't agree more. the conversation is so familiar to everyone sitting in london, in europe watching this play out. you start at 10:00 p.m. curfew you start to limit dining. then what? that is the concern for a lot of people this morning. tom: i'm going to use the hands up. that has proven so effective on radio worldwide. think of it like three hockey bucks of death in europe. inis only one hockey puck the united states. europe is

get the healthcare you deserve at goodrx.com. ♪ jonathan: from new york and london for our audience worldwide, good morning. "the countdown to the open starts right now. futures down five. increasing infections, increasing restrictions. the pandemic jeopardizing the recovery, triggering new drastic measures. new york city closing public schools and with no federal aid insight the city warning of massive cuts to its public transit service. president-elect joe biden watching to ramp up the transition process, sing the delay is risking lives. president-elect biden: i have no budget, i cannot do any of this until i am sworn in and can convince the president now to do things that should be being done already. there has hardly been a meeting that has taken place in the white house about any of this. the whitemeanwhile house permitting positive. vice president mike pence says the recovery is on t

from new york and london this morning, good morning.longside tom keene and lisa abramowicz, i'm jonathan ferro. here's the price action this friday morning. what a week it has been. we talked all week about the near-term risk, the long-term opportunities, the tug-of-war between the two. the story in the market right now, equities up another 24 points on the s&p 500. the bulls out big time through the end of the week. euro-dollar, $1.1816. we believed lower on 10 year yields, down about a basis point or so to 0.8783%. in the commodity market, after a big rally, crew to settling down and settling in and around $40.50. tom: the note for me this week is the dollar resiliency. there's a lot of distractions, .ut i just look at 92.89 on dxy i don't think i knew it was going to be there. inwe do politics, we do it our own way with smart voices. one of them is emily wilkins, bloomberg government reporter and "surveillance" librarian. mr. obama is going to launch a book. what is it, 200 pages? 768.han: tom: there you go. you all by the book, but

jonathan: from london and new york, this is bloomberg. nathan: from london and new york, this is "bloomberg surveillance," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. monday morning price action looks a little something like this. a nice lift to this equity market, bouncing back from some brutal losses last week. on the s&p 500, we advance 1.31%. . in the bond market, yields up friday. that's got to hurt. the euro stable. euro-dollar, $1.1650. euro weakness as lockdowns in euro took a hammer to this market. take a listen to what cavalli -- had to say. >> the risk was that we weren't going to follow the signs and it was come back. that's exec you what's happened. jonathan: restrictions, lockdowns. france, germany, now the entire united kingdom. the good news on the economic front is the u.s. recovery does still have momentum. that is something europe did not have going into winter. that has just been over the horizon. does that continue in the united states, or do we go the same way as europe

that is at 11:30 am in new york, 4:30 p.m. in londonand this is bloomberg. ♪ francine: this is bloomberg surveillance, tom and francine from london and new york. no question that we have been asking ourselves, and i've also been asking guests for the last quarter of -- the last four years, five years, when will central bank finally consolidate? i spoke with thomas koch dine earlier this week on acquisition opportunities, and he talked about private banking. here he is. >> across europe and switzerland there will be continued consolidation, and it is more domestic. transborder, cross-border consolidation is more difficult to actually execute, but there will also be cross-border correlation, i'm sure. exactannot give you an number, but what i am convinced is that conservation is needed. and it will happen. francine: is everything you do managing that through the consolidation coming, or do you want to defend yourself as an inquiry? how you want to manage wealth management? thomas: our strategy is principally based on organic growth, not i

london. tom keene is in new york. a good amount of time will be spent on what is happening in the u.s., this pretty public rift between treasury, the u.s. treasury and the federal reserve. the focus is also in europe on negotiations on brexit, ongoing after some parts of the negotiations are temporarily paused because a negotiator tested positive. 10-year fore spanish bonds and portuguese bonds ever lower. yesterdayorld shifted in the united states of america. we are on the cusp of a constitutional crisis. i have no idea in america how friday is going to work. the president is clearly inserting himself on a constitutional basis into the state crisis in michigan, and into wisconsin. what i'm watching friday is simple. vice president pence travels to georgia. it will be fascinating to see if he makes public comments on this contested election. absolutely, tom, and we are also trying to find out what the next step is. let's get to first word news in new york city with ritika gupta. ritika: good morning. another legal set

tom and francine from london and new york. talk about covid and some of the vaccinations or treatments. like stone chief executive says lessons learned from collaborations from regulators, pharmaceutical companies, and technologies are set to permanently accelerate drug discovery. >> how many times a day do people ask you when you're vaccine will be available? [laughter] regular question whether it is from employers, the media, or my mother. people have been delighted to see the recent news of some of the first results coming through on vaccines. yesterday i was on a call last night with 10 of the global were heavily who involved in bringing solutions to covid and we are excited and optimistic to see some of the first data coming through and will be seeing more in the next six month or so. we have three vaccines in the clinic and to therapeutic treatments. -- two therapeutic treatments. >> some people are not willing to take vaccines. 25% are not willing to take it because they think it has been politicized and not safe or don

detention is there, and early in that interview, the tension between albany and new york city as well. jonathan: from london new york this morning, good morning. more fuel for some vaccine hope, this time not from pfizer, from moderna. more to come, right here on "bloomberg surveillance." ♪ >> we have seen a massive momentum shift that we don't think investors should be ignoring. >> stimulus is necessary in some form, the sooner the better. >> the vaccine is really the game changer here to bring us back to normalcy. >> in the months ahead, we will see perhaps less volatility than we have seen so far this year. >> markets in the next two months will start to reprice everything. >> growth will pick up a lot in the second have of next year as things get back to normal. >> we remain in a bull market. if anything, the pattern is just magnified. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone.

in london, 10:00 a.m. in new york. from london, i'm guy johnson. my cohost in new york, alix steel. welcome to "bloomberg surveillance." yesterday the market hated the idea of divided government. today, seems to love it. alix: what is interesting is the market moves we are seeing right now where the market moves we were seeing at midnight last night. part of that is you're going to see small caps come off and tech take the lead again. part of that is going back to the safety trade. a stronger dollar, lower yield, and stronger tech market. that has been playbook we have seen under president trump. but the huge move has really been in the bond market. yields now down by 12 basis points. plus, a stronger dollar then coming off. seeing that volatility kick into the exton -- into the fx market. it looks like we will have to struggle with a contested election, and i don't think we -- with a delayed or contested election come i don't the queen of the interest to that. guy: unresolved -- contested election, and i don't think we know the answers to that. guy: unresolved issues. services come

jonathan: from london and new york, this is "bloomberg surveillance."side lisa abramowicz, i'm jonathan ferro. a bit defensive this morning. futures negative. nasdaq outperformance. up about .1%. huge upper through november on the small caps -- on the small caps. down about .5%. , 10 yearnd market yields lower than where they started the month. 30 year yields lower than where they started the month. process that if you start to think about a better outlook for 2020 one. what is going on for the bond market. the 10 year yield this morning up one basis point. the idea the fed comes in, extends the average maturity or the fundamentals, if this hits the bond market, even with 2021 in the reopening trade, is this it? the story before covid, after covid, low rates forever? switch up the board. approaching 1.20. up .2% on the session. last time we got to this line in the sand, the chief economist of the ecb came out and went whack. i wonder if it happens again? we have chinese currency strengthen the mix. i wonder if that gives the ecb more patients than they

from london and new york, good morning tea this friday morning -- good morning to you this friday morningequities decline 0.1%. this is bloomberg. ♪ jonathan: from london and new york, good morning. this is "bloomberg surveillance." here is the price action. the news flow impressive, the price action a bit of a snooze. the s&p 500 down .1%. the nasdaq low but firmer, the russell software. the division between the two. that is where the story has been. over the last month the nasdaq up 8%. double the return of the small caps. this morning the small caps a little bit softer. caps, the cyclicals have done nicely. the bond market has not come along for the ride. we talk about that many times this week. i think it is worth repeating. 10 67read between two and basis points. that is exactly where we are right now. points, 30's at 1.54. you might've had the cyclical move. the rotation is the cyclical equities. not the move in the bond market quite the same way. if you want the trade to work, you need the bond market to come with it. you need the real yield with us as we moved to one of jonathan p

from london and new york this morning, good morning. for our audience worldwide, heard on bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ritika: president-elect joe biden calls president trump plus refusal to accept the results of the election and embarrassment. the president will not allow his administration to cooperate in the transition of power, and biden is not getting the intelligence briefings that president-elects normally would receive. biden says the president's actions will not help his legacy. and president trump is quickly remaking the budget on leadership in the wake of the election. a day after he fired mark esper by tweet, two senior pentagon officials stepped down, and so did esper's former chief of staff. trump allies are taking acting roles. critic says it signals turmoil in military leadership. coronavirus is roaring back after a couple of months of the disease being essentially a rural problem. metropolitan areas are now averaging a daily record number of cases. that has meant rising cases

from london and new york, "the open" coming up shortly on bloomberg tv.much tv and more on bloomberg surveillance. s&p 500 futures down 14. this is bloomberg. ritika: with the first word news, i am ritika gupta. mitch mcconnell has given president trump cover for challenging election returns. mitch mcconnell says the president is within his rights and has no obligation to accept projections based on vote counts that joe biden one. mitch mcconnell and other republican leaders have not congratulated joe biden since news media call the election in his favor. obamacare returns to the supreme court. justices will hear arguments over whether the affordable care act is constitutional. conservatives argue it is not. they say the entire law was rendered unconstitutional when congress illuminated the pandemic -- the penalty -- eliminated the penalty on those remain uninsured. if the supreme court agrees, more than 20 million americans could be left uninsured. u.s. regulators could give the boeing 737 max the ok to resume commercial service as soon as next week. the

midland, new york, london and to the big festivals, including the iconic, by really with lohengrin am was and to salzburg of course, with the daily. oh, you want to come for monk, talk on the great tenor roles and was internationally celebrated. fever is incredibly versatile in terms of his repertoire. skipped a few singers or is adept in german, french, and italian repartee, 3. whether it's opera or leader, he's just as versatile stylistically confident and musically vivacious. in everything he does, who was good to finish. a common verse of yet there's so many levels to pass through to arrive at what we call singing. and at the end of the day, and that's the essence of it. the singing has to become 2nd nature, and it has to be one of those things we do without giving it a 2nd thought face. we speak without thinking about it. we breathe without giving it any thought singing as to become equally automatic, but this was a good also. and when it does, you have the freedom to go on stage and without thinking about technique, you just interpret and inhabit the role of the early evening an

from london and new york, this is "bloomberg surveillance." keene and lisa abramowicz, i'm jonathan ferro. 60 minutes away from the opening bell. no idea how long you will have to await some of these results. the equity market up about 65 on the s&p 500, we advance 1.9%. even if the race tightens up for joe biden, leading in wisconsin, narrowing the gap in michigan. getting tighter. maybe about to extend his lead. morning a belief this if fixed income -- that takes out a huge package. it is all about the maybes at the moment spirit the markets have to move. fit comfortably below 18. tom: it is most interesting. because of the guest quality we will move right on, even with the market up substantially. we get lucky. we have to get to friday. with 75% of the vote counted, all eyes will be on pennsylvania. after wisconsin come after nevada, after michigan. lucky because i knew a president trump when when i saw a map of bucks county four years ago. mark schweitzer joins us. he is from bucks county. he has a former governor of pennsylvania. wonderfu

in new york and 11:30 a.m. in london. this is bloomberg. ♪ >> this is bloomberg surveillance. erg ter, our opinion columnist and economic advisor. this is bloomberg. caroline: this is bloomberg surveillance, caroline hyde in new york and tom keene gets well deserved rest with francine lacqua in london. bbva and sabadell ended discussions with a disagreement over the pass of a transaction. shares of sabadell plummeted but they've recovered some losses earlier and now down a cool 13% and the group will shift focus to developing the retail business in spain. we're joined with the senior bank analyst at bloomberg intelligence and we can discuss the fervor that is bank consolidation in europe as we see a focus on all things trying to take on the latest slowdown in the economy but jonathan, your perspective on this deal being put on ice, bbva is set to spend. where might that money be put to work? jonathan: bbva, fantastic sale of the u.s. business with a lot of cash. wouldn't be surprised if the e.c.b. switches back on dividends and capital return next year if we see a big buyback p

from london and new york, good morning. keene and lisa abramowicz, i'm jonathan ferro. away from the payrolls report in america this friday. this is the price action going into that number. we look a little something like this. down 30 on the s&p, negative about 0.9%. for day winning streak on the s&p. big week of gains on the cards, even with those losses. in the bond market, just a bit softer. yields a bit higher. other basis point to 0.7748%. moment,he story of the for anyone in foreign exchange, the belief is if you can get a biden white house, you flush through some real dollar weakness into this foreign exchange market, and of cap essay, over the last several days, that is precisely what has happened. acceleration of that trend has been substantial. i would also note really specific pacific rim strength as well. what we like to do is speak to experts. we just talked to laura brown of george washington about the need for experience. on election law come out of and now theyale, dean of the university of wisconsin law sc

that wraps it up for me and guide in new york and london. up in new york, frank luntz will be joining balance of power with david westin on bloomberg television and radio. let's get a quick check on the markets. a lot of nothing. the bank of america fund manager fully saying they are bull. even nasdaq is a hard time holding up. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrai

jonathan: from london and new york this morning, good morning. it is the longest tuesday night ever. it is thursday morning. equity futures are rallying. alongside tom keene and lisa abramowicz, i'm jonathan ferro. bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ♪ ritika: with the first word news, i'm ritika gupta. joe biden has just -- joe biden is just one battleground stayed away from becoming the next president of the united states. biden already won two key prizes, the states of miss coston -- of wisconsin and michigan. his best chance appears to be in nevada, where he holds a lead over president trump. for the president to be reelected, he would have to win all of the battleground states that have not yet been called. the tightly contested election is putting more pressure on the federal reserve to support the economy. policymakers are not expected to announce a shift today when they conclude their two day meeting, but chair powell may hint at coming changes to the fed bond buying program. chances of aggressive fisc

from new york and london, futures up 26. we advanced three quarters of 1%. this is bloomberg.e- karina: first word news, i am karina mitchell. federal and state officials disagree more with president trump. the president has made baseless claims of voter fraud, but official to supervise the boat called the most secure in u.s. history. they say the vote was not otherwise compromised. some congressional republicans are splitting with president trump over his refusal to acknowledge the outcome of the election. they say joe biden should receive presidential level intelligence briefings. presidents trump started to getting briefed a week after his election in 2016. a grim milestone in california. the state has had more than one million coronavirus infections. the cdc says almost no part of the country has been spared in the diseases latest search. a new study says the fatality rate of people in the u.s. has fallen 30% in's april. researchers forecast the death could hit 2200 a by mid-january. european union officials say does make their mind up time for boris johnson. another week

alix: that does it for me and died in new york and london. coming up -- that does it for me and guy in new york and london. oning up "balance of power" bloomberg tv and radio. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide , i am david westin. welcome to "balance of power" for the world of politics meets the world of business. one of the biggest issues in washington is how we will get from a president trump to a president biden. we have a president-elect, but no transition is going on, at least not now, which means a new administration cannot get

have the virus and still be in the incubation period meaning they could test negative in new york but positive in londonrites and new characters make their debut on tonight's back to back season premiere of fbi and fbi most wanted. >> tiffany wallace joins the team to help search for suspects who plan a mass shooting at a media company in the season 3 premiere and agent l acrrix's father returns. we sat down and asked how he hope to distract from the difficulties of the year. >> we were talking about how important it was to have an emotional story line to distract from the realities of coronavirus. to navigate the delicate roads. . >> catch the season premieres starting tonight at nine. >>> a worry some outbreak taking hold. next, the rising numbers in one of santa cruz's biggest nursing homes. >> when it comes to those coronavirus numbers they are spurring roll backs when it comes to the reopening process. what that . >>> something on the radar this morning. the president elect is set to get a national intelligence briefing later on today but it's not the sort of briefing that an incoming president nor

jonathan: from new york and london, for our audience worldwide, good morning, good morning.erg surveillance ," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. this equity market is flying. it is thursday morning. for many of us, it is tuesday night still. tom: we will get to that in a moment. i think the markets are so importantor

i am tom keene in new york, francine lacqua in a really different london in the continent of europe. francine, paint a picture of what london is like in pandemic. new york has shifted this week. francine: i know there was a big shift in new york because you closed the schools. we have been in locked down for two weeks. we expect some of these restrictions to lift on december 2. the center, what american holidaymakers would have known, there are not many people around. if you look at the shift, where people are going to get their contact lenses, shopping, it is really more on the outskirts, where the parts of london that are still in central london but where people have homes, because no one has gone back to work. i think 20% of the city of london occupied. there was a wave of people coming back, and that is where boris johnson and announced extra restrictions. but the schools remain open, and this was the linchpin of the boris johnson strategy. you close everything else and keep the schools open. john's hopkinsve university with us today. i believe the leadership of outside i will be

jonathan: from london and new york, this is "bloomberg surveillance." here is the price action.ties advancing. if you have the cyclical trade, you will like the look of this market. our on the small caps. the nasdaq is -- outperformance on the small caps. limited movearket, higher in yields. a little bit higher on the 10 year. on the 30 year by three basis points. the purple little bit steeper. -- the curve a little bit steeper. if you are bullish on the outlook for growth in 2021, this is where you want to see things move. switch up the board one more time. we start with the aussie dollar where the outperformance is. also in crude, in copper. copper in a june 2018 high. crude at a post pandemic shock hi. - a post pandemic shock high. gold with a difficult chart. 1809 an ounce. the progrowth people in retreat. most of 2% move on bold. ist we are trying to do people our conversations with yesterday afternoon with not only people that know janet yellen, but understand the theories and bringing the theories over to policy. no one has done the movement of theory to policy like frede

in new york and 11:30 a.m. in london. bloomberg. ♪ this is "bloomberg surveillance," tom inferencing from london and new york. we have up-to-date minutes on the market and we try to have up-to-date minutes on the election results of 2020 from the united states. the election outcome is unknown. when you look at benching markets and what is being talked about out there, there is a slight biden by this -- biden bias because of some of the male and votes that we understand were overwhelmingly for democrats. treasuries are jumping with the dollar. president donald trump winning key states, threatening to fight an overall loss in this up in court. i'm looking at the mixed election result, s&p futures erasing gains. i'm looking at room in the and the mexican peso. tom: it's getting to exhaustion in early morning. we have a report that nevada will be taking a rest year. we may not see news of the hour. we may get out until thursday. that delta under 8000 votes. we spent achigan, lot of time in wisconsin, and a lot of as well, and

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francine and tom, as always, from london and new york.o fed decision day, the central bank likely to hold off on policy changes while the u.s. election hangs in the balance. is dr. nannette from credit'herbe suisse when you look at the markets, we are positive about what they are seeing right now in the u.s.. do you worry that we won't get the stimulus that we so badly need? because it looks like we are edging toward a biden presidency but a republican senate. nannette: i think there are two things that are shining through how the markets have been reacting over the last 24 hour's. one is that apparently for markets, it is more important what the outlook is on regulations than what is ahead in terms of stimulus, because otherwise tech stocks would not starkeacted in that very way. so coming back to the outlook for the stimulus, i mean, i don't think markets will be too a medium-sizedby stimulus, which is more likely with the political landscape emerging for the congress and the collaboration with the white house, especially under this .ha