joining us right now is rupert harrison. he was also at number 11 in the previous life as chief of staff to george osborne. great to have you on the program as always, especially on a day like today. what do you expect from the chancellor today? this is a highly unusual position. it is almost like a conservative chancellor having to be socialist. rupert: yeah, the challenge that rishi sunak has is the large support that he has with economy. tens of billions of pounds sterling supporting people in work and now subsidizing part-time work. the challenge is that that has been very large, a big support for the economy so far and widely welcomed, what he has to phase it out at some point. it is too expensive to continue and it is freezing the economy, potentially maintaining jobs in place that are going to have to go because they are not sustainable. to end atat is going the moment in october. he we replace that stimulus from somewhere else, and that is a big challenge because he cannot overallo see the stimulus to the economy tap

those comments from rupert harrison at blackrock following a report that officials of the trump administration weighing options to undermine the hong kong dollar peg. from new york city, alongside tom keene, together with lisa abramowicz, i'm jonathan ferro. about to step away to get you up to speed on the opening bell as we count you down to the opening. looking to catch up with tony rodriguez. signs of fragility start to come to the surface and the rally of the last several months. tom: no question about that. it will be interesting to follow into the open at 9:00 on bloomberg television. we will be with paul sweeney on bloomberg radio. extraordinary what we are seeing in technology. ourt now, without question, interview of the day, if not of the week on the social fabric of this nation. it would normally be an interview on trade with a former ambassador on trade with president obama, mr. kirk of texas, but that is not the case. kirked to talk to ron about the reagan high school in austin, texas, about the mayor of dallas, texas, and we need to talk about the path forward. we are honored to