earlier i spoke to fixed income expert stephen major, who told me the downgrade has had little impactmy. so far there's not been that much of an impact. and you're right, there's still plenty of demand for us treasuries. i guess it might be a bit of a nudge for all of the authorities involved in the us to get the house in order over the longer term. but right now there's no meaningful movement in the yields. if anything, we're pretty much the same. overnight we were seeing reports that there's a real appetite for short—term bonds. how do you describe this phenomenon? you can see the appetite in the yield level compared to the official rates from the fed. so the t—bill yields actually sit on the lower end of the range, which shows there must be a huge demand for them. and if you think about it, we're talking about yields of above 5% in totally risk free assets. you will get your money back, whatever. and it's in dollars. so investors in asia have no problem buying these securities. you know, 5% is something people haven't seen for a long time also. and it's a good level of saving for m

stephen. hello. 0n the other side of the atlantic, a major weather story is going to be developing during wednesdaya. this storm has been strengthening, moving northwards over the very warm waters of the gulf of mexico. it's going to make landfall during wednesday in the northwest of florida with a combination of dangerous winds, a life—threatening storm surge, with the potential to cause catastrophic flooding. we will, of course, keep you up to date with that. here at home, a much quieter weather outlook for wednesday. sunny spells and scattered showers. most places getting off to a fine start. a little bit of mist here and there that will tend to lift and clear, and then a lot of sunshine around, but shower clouds will bubble up through the day. a scattering of showers to take us through the afternoon, the odd heavy one. but there will be some big dry gaps in between. temperatures ranging from 15 degrees in stornoway and lerwick to 19 in london, maybe 20 somewhere in the southeast corner. but those temperatures will drop once again under clear skies during wednesday night. the early hours of thur

stephen: right. if jim jordan were up there in his shirt sleeves and everything is broken down in majority time, minority think that's proof kevin mccarthy does not deserve to be speaker was he doesn't understand politics well enough to know what his own game was. we have to take another break. back with more chris hayes, everybody. [cheers and applause] [band playing] inez, let t me ask youou, yoyou're usingng head and shshoulders, r right? ononly when i i see flakese. then i i switch baback to my regugular shampopoo you shouldld use it evevery w, otherwisise the flakakes willll come backck. he's r right, you u know. is that tiny t troy? the ingredients in head and shoulders keep t the microbebes that causese flakes atat . microbeses, really?? they're e always onn yoyour scalp.....little rascal. but goodod news, there'e's no itchihiness, dryness oror flakes dodown ! i lolove tiny trtroy. he's the b best. mamake every w wash count!! little h help, please. hi, i'i'm sharon,, and i i lost 52 popounds on go. on other d diets, i could babarely lose e 10-15 pounun. mamake every w wash count!! thanks to golo,

. >> reporter: it all comes after a major shakeup on trump's legal team now led by georgia defense attorney stephen sadow, whose high profile clients include musicians t.i. and usher. in a statement, sadow writes, "the president should never have been indicted. prosecutions intended to advance or serve the ambitions and careers of political opponents of the president have no place in our justice system." and as for that mug shot, we understand there were discussions as late as today about whether or not to take one. now, in the former president's other three charges, remember, there was no mug shot, because he is one of the most photographed people in the world. lester >> all right, blayne alexander, thank you and joining me here, chief white house correspondent kristen welker and senior legal correspondent laura jarrett. laura, let me start with you the former president has been processed now. we will see trials, perhaps, as early as october, his won't wbe one of them now. >> that's right, lester what we watched unfold in georgia is really just the first step in what is going to be a long legal fi

another major developer, country garden, has warned it may not be able to make interest payments on bonds as it struggles to find the cash to finish projects around the country. stephen cochrane is the chief asia economist for economics research firm, moody's analytics. earlier he told me that fixing this problems faced by china's property sector will take a long time. i think what it means is that it is going to be a kind of a long slow process in terms of resolving and restructuring this debt amongst the major property developers in china as they work this out both through the us legal system and, of course, in china as well. i think what it means also is that amongst all of the various imbalances in the economy in china right now, the property sector might be the weight on the economy that lasts the longest simply because it is going to be such a slow slog in terms of restructuring this debt. we have seen pictures of unfinished buildings, families and even sometimes having to squat in those buildings because they cannot afford to pay the rent and pay their mortgage on these properties. what can china do to try to boost this up? somehow the key to this issue right

stephen: and that's just george santos. and it gets more. because the new republican majorityl have twice as many men named mike as there are women chairing committees. this is, without a doubt, the biggest mike overload since that lou bega song. >> ♪ a little bit of ♪ >> mike. >> ♪ in the sun ♪ ♪ a little bit of ♪ >> mike. >> ♪ all night long ♪ ♪ a little bit of ♪ >> mike. >> ♪ here i am ♪ ♪ a little bit of you ♪ ♪ makes me your ♪ >> mike. >> stephen: i can't believe that joke worked. i cannot believe it. can't believe it. i owe somebody an apology. that joke worked i don't understand how we get to that joke. how does it work? one republican who's possibly not named mike is incoming g.o.p. congressman and man putting air quotes around his entire life, george santos. santos has a long history of stretching the truth by never telling it. well, now in a new complaint filed with the federal election commission, santos has been accused of extensive lies about his campaign finances. well, that's so disappointing. i would expect more from the man who invented the automobile. named i

paul: stephen engle in time on there. still to come, majors claims for weather-related incidents this year could top $100 billion. the asian development bank joins us next to discuss how the industry can mitigate climate risks. this is bloomberg. ♪ shery: economic losses are mounting from the devastating wildfires in maui. duties risk modeling service estimates damages could reach six booing dollars as business disruptions combined with property disruptions. most of the losses come from lahaina, whose historic core was reduced to ash. it did not include the broader impact on maui's tourism industry. paul: bloomberg intelligence says it seems almost certain that claims for weather-related incidents will exceed 100 billion dollars for the third year in a row. in the first half of 23 the cost is 43 billy dollars while swiss re has it pegged at 50 boone dollars. that's with a look to climate change becoming more frequent. let's welcome our guest, thanks for joining us. you say that asia has a catastrophe protection gap. can you give us a sense of

stephen mcdonnel, has the details. china dropping its tariffs on australian barley may not sound like a lot in many countries, but what it represents is a majorina and australia, who've been locked in a major trade war for several years. now this all started when the australian government called for an inquiry into the origins of the coronavirus. and this upset beijing because canberra had gone out on a limb before other countries had called for such an inquiry, and in apparent retaliation it placed tariffs on quite a few australian goods. not only barley, there was wine, lobsters, timber, coal. now one by one, these restrictions are coming off, and as they do, as i say, relations are improving and this all has largely been prompted by the new government coming in in australia. but with barley, as with wine, there's been a wto complaint by australia. now, the australian government welcomed the removal of tariffs on barley, stopped its wto action. it says that if the same thing can happen with wine, that it will also stop its action against china at the world trade organization. to the travel and tourism business now — it accounts for almost 1

. ♪ ♪ >> stephen: ladies and gentlemen, as i have been talking about the last couple of days, right now there is one majorne's minds, who will be people magazines sexiest man alive for 2021. in these divided times it's the last thing all americans care about. so of course there has been rampant speculation in the market. on thursday "the new york post" reported that the title would go to chris evans. simultaneously dwayne "the rock" johnson claimed that it was his. saying that he is always going to be the sexiest man alive. which of course raises the queston, will be hysterical have to fight for the title? and if so, will they get all sweaty and russell? that might be sexy. all the speculation ends tonight, ladies and gentlemen, it is my distinct honor to have been chosen by the people at people to announce this sexiest man alive. as an official adjudicator i ran a thorough and comprehensive evaluation on dozens of potentially top sexy living males. and we present a rare behind the scene glimpse of one of those candidates. jim. ♪ ♪ >> helelp me, matthewew.. [laughghter] >> s stephen: amy, plplease send in

majority in the senate. mus♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> it's "the late show" with stephen colbert! tonight, how about them apples! obama. and musical guest. featuring lewis kato and the and now, live from. sullivan theater in new york city, it's stephen colbert! [cheers and applause] >> stephen: that's right! [cheers and applause] ♪ ♪ [cheers and applause] >> stephen: hey, everybody! welcome! welcome one and all to "the late show," i am your host, stephen colbert. [cheers and applause] and i don't know about you, but one week ago tonight i was a little stressed out. just about silly stuff that in retrospect i shouldn't have been too concerned about, like the rising tide of fascism. [laughter] and then the election came and i continued to be stressed out for four more days because we didn't know who had won in nevada. well, it turns out what happens in vegas takes four days to figure out what the hell happened. [laughter and applause] but. but -- there you go. but on saturday night, we learned the democrats are keeping control of the senate! [cheers and applause] there you go. turns out that red wave was actually

control and one major battles of side and 20. 20 says pretty little progress and finding a long locking solution for peace drawn list and political analyst from typically most applicants. stephen says that all the classes are com right now. any escalation could stock any mind i'm associated with team and i, personally, i was a narrow is where they would clash. i saw that the trucks were opened by the usual forces commissioned by the ministry of interior to its own. people who came out during the class. she's work has officially started to open roads and clear then life is almost normal. traffic is back and shops are starting to open their doors. public life in the capital is grab your irritating, i mean the app or site, it's a review line. what happens after the class just wasn't agreement? i expect that the issue of confrontation may come back at any moment. no official statement came out of it to fight and forces, but the policy vans and that causes based conflict is of course, well, non public escalation is expected at any moment. well, there's a lot of discussion about libya, potentially putting some sort of a well application in for the brick strategic alliance of libya,

one point, stephen — in every single survey that has ever been conducted, and i've commissioned a few myself, i've read many, every single one demonstrates beyond any doubt that the majorityto, support greater action on biodiversity, nature on the environment. you're not reading the tea leaves. the conservative home website just did a series of polls just in the last week or two. a0%, they found — of tories, this is — oppose the net zero target. 33% think global warming is not driven by human activity. but these aren't ordinary people, this is a self—selecting, highly partisan... conservatives aren't ordinary people? this is a highly partisan website with a particular self—selecting readership. i'm talking about formal, official, professional, independently conducted surveys by those people in a position who know what they're doing. and in every case, including two that came out this morning, in every case, a clear majority of people, even slightly more among conservative voters, want more action on nature, cleaning up our rivers, protecting our biodiversity, planting more trees, and more action on net zero. so i don't buy that. but you know what many conservatives will s

stephen engle joins us now. tell us where you are and why. >> we are on the small island just about six miles across the bay from the major chinese city of xiamennormally see it in the outline of the haze and the fog. it's very close. about 6.2 miles across the bay. it's always been on the symbolic frontlines. you can see the steel bars filled with barnacles. they have been in place for decades to symbolically repel any potential pla invasion from china to this island. that's why these leaders, the president, the kmt front runner will be here today to commemorate the anniversary -- the 65th anniversary of one of the biggest battles between taiwan and china in 65 years -- 65 years ago. they will be here, with a wreath laying ceremony and the like. the election, terry is not a candidate but is acting like a candidate. yesterday i got front and center with the 72 -year-old billionaire founder of foxconn, the biggest supplier to apple, and i asked him directly this question, let's play it. what does the next president need to do to improve relations with china? >> we will talk later. >> so, unlike a candidate, he is not talking much. he wants to wa

another major developer, country garden, has warned it may not be able to make interest payments on bonds as it struggles to find the cash to finish projects around the country. stephen that fixing this problems faced by china's property sector will take a long time. i think what it means is that it is going to be a kind of a long slow process in terms of resolving and restructuring this debt amongst the major property developers in china as they work this out both through the us legal system and, of course, in china as well.

stephens chief economist. this is bloomberg. ♪ >> we are navigating by the stars under cloudy skies. in such circumstances risk management considerations are critical. >> we are facing majorhifts. we cannot just stay in the same box all the time and assumed that the models that we have been using for a number of years are going to produce the result that will guide us toward the right decisions. >> the physical dimensions play very reasonably. we need to continue that. it is a battle that you need to continue fighting. >> you cannot wait until you have got all of the data before you act. by that time, it would be too late. >> we are in this position in europe and out where the euro zone economy is stagnating. whether we are in a restrictive enough territory remains to be seen. >> the labor markets and similarity with the u.s., but economic activity is slowing. >> at the current moment i would be in no rush to say we are done. haidi: global central bankers speaking at jackson hole, and our next guest says u.s. growth is too strong for the fed and does not see any rate cuts on the horizon. she is a senior grow strategist at robertson stephens. listening to the narrative bei

another major developer, country garden has warned it may not be able to make interest payments on bonds as it struggles to find the cash to finish projects around the country. stephenperty sector, it is going to take a long time. i think what it means is that it is going to be a kind of a long slow process in terms of resolving and restructuring this debt amongst the major property developers in china as they work this out both through the us legal system and of course in china as well.

majority leader had a meeting at president biden's delaware home. and during that meeting we are told that they made some progress in reaching towards a deal. >> stephenin'! the word is, they haven't reached a deal, but by the end of the meeting, these three old men were able to put aside their differences and release a joint statement saying, quote, "they sure don't make 'em like sophia loren anymore." and they do not! treat yourself! i don't -- don't know what she was in. it is a monumentally bad day for facebook, the world's top social media network and uncle radicalizer. thanks to hundreds of leaked internal documents, 17 news organizations are publishing a series of stories about all of the damage facebook does, for example, how coordinated groups on facebook sow discord and violence, including on january sixth. that's in addition to the discord your cousin sows on named her twins "dash and otter." unsurprisingly a lot of misinformation has to do with facebook ceo mark zuckerberg. last year, he testified before congress that facebook removes 94% of hate speech but the company's own researchers estimated that it was removing less than 5%. that's a

bring in stephen moore i need further commentary, we just got this report about delayed water to fend off the fire because of water equity concerns, what is going on steve? >> this is a majorndal, americans have to know the truth of what happened in hawaii. it was not climate change that made these fires much worse and much more deadly, it was climate change fanaticism. as you just reported in the little segment, the utility had been warning for years that there was good to be real danger of wildfires in destroying homes and becoming fatal if action was not taken. what happened they spent to enter $50000 on that and they spent tens of millions of dollars on solar panel and wind. their attention was completely diverted from what was the priority, making sure that the forest fires would be averted in the climate change fanatic said don't worry about that, move towards renewable energy, this is a good example of how dangerous the climate change movement has become. it's become a religion and they've taken the eye off the ball of maintaining public safety as happened in hawaii. stuart: i wonder how president biden will handle this one is on now we today in the water equity and

majority of the primary voters polled are saying they're going to support donald trump. in some ways, this is like a thought experiment for a political velocity class more than actual competitive republicans primaries. >> stephen, thank you very much, georgia public broadcasting, we appreciate your time. >>> up next, brand new polling, why the national numbers don't tell the whole story, and what that means for everyone not named donald trump. this time we're talking about iowa. >>> plus, a hurricane and an earthquake at the same time, what hilary is doing to hurt california but also help washington state. we're back in 60 seconds. we're back in 60 seconds my frequent heartburn had me taking antacid after antacid all day long but with prilosec otc just one pill a day blocks heartburn for a full 24 hours. for one and done heartburn relief, prilosec otc. one pill a day, 24 hours, zero heartburn. age is just a number, and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health versus 16 grams in ensure® high protein. boost® high protein. now available in cinnabon® bakery-inspired flavor. learn more at boost.com/tv >>> here is a helpful reminder, a lot can change between now and novembe

stephen: country garden is the latest poster child to they are facing a severe cash crunch liquidity issues. they have warned of a quote majord. they missed the coupon payments earlier last week on dollar bonds. at least 11 of their onshore bonds are still not traded and suspended. this is a company we have to watch very closely. it has four times the number of projects nationwide than china evergrande and was once seen immune to these issues on debt and liquidity issues no longer. they are in some serious trouble. david: stephen engle with the latest. let's continue the conversation around a similar theme. we need to get granular on this story. there are some bright spots and early signs we are getting -- signs of beijing's effort to shore up confidence is starting to work. we had this local government financing vehicle from one of china's most and dead cities, tianjin. overwhelming demand when it had the market for this yuan bond sale. let's get the details from our china credit reporter. before we talk about how hot this was, put into context. why is this specific issue important? alice: local government and finance vehic

stephen engle there with the latest on china's slowdown. of course such a big part of this is what happens with the property sector we have got a major player at possibly the most major player -- evergrande trading resumption, not exactly great market conditions to be coming back but this is a momentous day for the company. annabelle: yes this is a stock that has been suspended for 17 months now but the company says it has essentially met the conditions in order to restart or resume trading. they want to start on monday. this is going to be a lot for investors to consider as to whether they want to buy into this stock. you recall when it was last told that it had already dropped around 95% in value from its peak back in 2017. the news that needs to really beef -- really be refocused is restructuring plans and also earnings. on sunday at the company reported results for the first half and it showed a further loss to $4.5 billion. net loss adding to more than $80 billion from the two years prior. certainly something to be watching, creditors. we have meetings planned for monday to discuss or vote on the offshore restructuring plan. a lot for

stephen schafer, to talk about their stunning new book, "preserving los angeles: how historicvi places can transform america's cities." published by angel city press. dare i say it, this book is a monumental achievement and a majorution to the preservation field. ken has devoted much of his career to preserving and enhancing the unique architecture and cultural heritage of los angeles. when i joined l.a. conservancy in 2006, i had big shoes to fill. ken had just left his role as director of preservation issues for his current position with the city. and there in the city's planning department, ken w heads the offe of historic resources and urban design studio. among his many responsibilities there there, ken led the completion of the ground breaking sprawling survey l.a. project. survey l.a. competently documented historic resources across the city's 500 square miles reflecting not only the diversity of the city's architecture, but also its cultural communities. anyone who knows los angeles can appreciate thehe size and scalef this massive undertaking. stephen schafer described himself as a photographer with a preservation distraction.sc in his three decades behind the lens of a camera, he has become a specialis

major. and you're moving along pretty well for this time of the morning at 618. let's talk about some of the fog we have. let's bring stephen or are we seeing a bigger fog bank this morning? you know, actually, you know how i feel about fog. lots of times i like it. but i think we're seeing more than we've seen this week. yes, sir. yes, sir. so we own i do my own forecast highs in the morning. i was looking at santa rosa and it said 78, 78, 91. wait a minute. you don't usually see a 12 degree spread on forecast highs. so i'm kind of splitting the difference here today. mid 80s on some there is a bigger fog bank. we had a little bit of activity pop up at late in the afternoon around the mount hamilton, also near livermore, altamont pass and the diablo range. i expect that to continue today. see that low right above where it says fox two and all that other stuff that that that low is really going to play into our weather as we head into the weekend along with big dome of high pressure which is building in the middle of the country. a little bit of moisture we had that pop up. it will continue unabated, i believe, up in the mo

claims and let's be honest, that would be a major pull factor if you do that , even more people will try and come. so i think it's important to make that clear. stephenow immigration minister, actually went one stage further. >> i put this to the shadow immigration sorry, the shadow education secretary on sunday. immigration sorry, the shadow educati> well we know many of these people are economic migrants. we know that . and if you're going know that. and if you're going to make it easier for them to come here and to work , all logic come here and to work, all logic suggests even more will try and come . yeah, i mean, so i think come. yeah, i mean, so i think we just have to be realistic and clear eyed about the implications of some of those policies. >> but what could when you say you want the

stephen dixon. this is breakfast on gb news. so it is our top story this morning, the exclusive access that gb news is being given as immigration officers have launched a majorl immigrants . well, home illegal immigrants. well, home office officials say working in the shadow economy is in fact, a major pull factor for those who embark on those often dangerous, illegal journeys to the uk. >> well, a home security editor, mark white, was with enforcement officers as they carried out raids across the country in towns and cities across the uk. >> these delivery drivers are everywhere . we all use them, but everywhere. we all use them, but increased only the person who turns up at your door is breaking the law. we can reveal a massive surge in the number of illegal immigrants working in the delivery sector . we're with the delivery sector. we're with immigration enforcement officers in brighton city centre, a joint operation with sussex police as they target the delivery drivers they target the delivery drivers they suspect of working illegally . we police have just illegally. we police have just stopped this rider on the seafront as they carry out checks. immigr

stephen dixon. good morning. this is breakfast on gb news . news. >> okay, to our top story this morning and the police federation for northern ireland says urgent answers are required after details emerged of a second major serving officers and staff . staff. >> it comes after the worst security breach in northern irish history, where the names and locations of the entire police force and civilian staff were put online for three hours. >> let's find out more from our northern ireland reporter dougie beattie . good morning to you, beattie. good morning to you, dougie. and a lot of pressure building for head of building there for the head of the force in northern the police force in northern ireland . ireland. >> there is indeed isabel. most definitely. he will feel the pressure today. and of course that coming out last night of a further data breach that was a laptop stolen out of the back of a car in newtownabbey, which was reportedly to contain the details of 200 officers. now, they will have already been named in the leak yesterday because that included every officer that was inside the psni. and it must be said , psni. and it must be said, civilians that work for the psni as well. you can only imagine