concerns with the u.s. debt and concerns with the potential new tariffs from the u.s. d other countries as well. what does it mean for 2025? >> i think the trend of lower rates is in place. nevertheless, this is more an economic issue and people have become too complacent about inflation and that there are too many expectations of a rate cut. i think over the coming months people need to look towards inflation numbers in the u.s. in particular. i think that the fed is not going to cut interest rates as much as people expected in 2025. nevertheless, as long as inflation is under control and not significantly move up ward, i think the market can live with that and it's not a main issue, but nevertheless, we need to be aware there is an inflationary risk with the current level of expectations. >> francois, stay with us. before we continue the conversation, i want to look how we are trading in europe so far this morning. the stoxx 600 performed well. we had the stoxx 600 ending the week up almost .6%. however, today, we are seeing a bit of a muted reaction as investors are

in the u.s. and elsewhere and i think the reach has been relatively limited and some have been clumsy and we need to pay attention not just to efforts in the u.s., but globally, more propaganda, how that affects china and the united states. >> concluding point, i think it's hard to really change to any incentives and behaviors in these spaces, so it's up to the united states to focus on increasing the economic and informational resilience of itself at home and as well as off the allies and partners by countering chinese narrative and providing alternatives viewpoints and information. not just voice of america, but providing resources and training and equipping local media outlets to report, and to have other sorts of information apart from the chinese government and i think, you know, within the u.s. we want to raise awareness of the influence i think at the local and state levels not just at the national levels. i think that politicians are unaware of the potentially corrosive actions and less wi

during the attack the u.s. military coordinated closely with the idf to help defend israel. u.s. navy destroyer is deployed to the middle east region and fired approximately a dozen interceptors against the incoming iranian missiles. initial reports indicate israel was able to intercept a majority of the incoming missiles and there was minimal damage on the ground, but i would refer you to israel for confirmation and any questions on that as they are in a better position to discuss. please note we are still assessing the attack and outcomes and numbers may change as we receive updates. additionally, no u.s. personnel were injured or harmed during the attack. secretary austin, chairman of the joint chiefs of staff general brown junior and others have been in constant contact with president biden and kamala harris throughout the day. in addition to his phone call this morning with israeli minister of defense yoav gallant prior to the area near tag, secretary austin spoke to the minister a short while ago to get an update and reaffirmed the united states's ironclad commitment to the

the u.s. congress recently released a report highlighting the disparity and building capacity between the united states and china. to be blunt, it found that china is far ahead. right now china has 230 times the ship building capacity of the united states, while also possessing the world's largest maritime fighting force operating 234 warships to the u.s. navy's 219. the great 19th century naval historian famously side, whoever rules the water rules the world. and the power dynamics. and there's strong bipartisan support in the u.s. to address this challenge. the bad news is that by working together the capacity exists for korea and the united states to build a stronger industrial foundation and one that will jointly support our friends aallies national security and economic prosperity. korea is the world's second largest ship building country with a 30% market share and reputation for efficiency and excellence. visiting korea's ship yard earlier this year to see our swift ship building, as he

the u.s. has increased its defense posture in the region. the last time there was an iranian attack on israel in april, the u.s., israel, and jordan helped to shoot down almost all the projectiles. at the moment we have been told by one israeli official that they expect this response to be even more substantial than the one that came in april. obviously, israel has just taken out the leader of hezbollah over the weekend on friday, launching all sorts of attacks around invasions in southern lebanon. at the moment, everyone is on edge, anticipating some kind of iranian response. from there it is -- where do we go from there? how does israel respond? what kind of casualties are there? the u.s. is concerned that any sort of escalation could prompt a regional war. that's what everyone is looking out for at the moment. sonali: perhaps describe that escalation we have seen over the last few days and what we might see today. how does that change the narrative around what's happening in the middle east

you have such, the u.s. government is so large and the japanese government is very large, but what happens, if you are not conveying the same message and you are losing the trust of the other side, you have to work hard at that. general wright, we would have daily intelligence briefings at the embassy and we would share those, in general wright would come once a week or send the deputy commander tim larson in his place. we would have, we would adjourn the intel meeting and then we would go back and visit one-on-one. it really worked. it worked for both of us. because he really couldn't tell me what to do, i couldn't tell him what to do, and i thought it might be good to point out that if we said the same thing, the rising tide might lift both boats and it did. you have to have that coordination. you have to have the coordination within the government. one of the most difficult things that i think you have to contend with, and i see nick snyder back there, but you have to constantly keep washington updated as

between what the u.s. would do and the contingency, if it was exposed to the daylight that would be the end of the alliance. you need a political, appropriate political atmosphere to support or at least accept the government [indiscernible] 1996 declaration, together with [indiscernible] enabled an -- us to go ahead with that. i think that was an amazing day. i still remember the day [indiscernible] signed the documents. it was an emotionally moving day. since then i have been involved in bilateral dialogues transforming the alliance. [indiscernible] i think the basis has been set. also after that there was a lot of work. people to people. [inaudible] all these people worked with each other very well. when you have a mutual trust around people, in each agency, that makes it much easier. grace: thank you, ambassador. it is clear when we think about the perceived gaps in the alliance, it is the death of the alliance. we in speaking to how do you create a narrative or rationale, a new rationale for the allianc

the u.s. is weighing capping the sale of ai chips to some countries, broadening restrictions beyond just china. we are joined exclusively this hour by the of indio third t i.t. firm, hcl technologies. we will discuss the risks and opportunities he says -- he sees ahead. the s&p heading in another record level. avril hong, we are losing track of that already. the 46th session. >> given the record number of highs we have seen, you d think maybe it's time for a cooling off, but no. this is what we are seeing on wall street overnight. to your point about ht's lifted sentiment in the asia-pacific, mostly higher, including in japan. itretrned from a long weekend helped in part by the weakness whave been seeing on the japanese currency,ut there are a couple of outliers to this climb in stocks today, as we see the energy sector, the underperforming one, the worst performer as brent and usc crude -us. crude futures dropped and keeping an eye on whate seeing in chinese s the prices haven cming down amid

now sitting at 3.2% for the u.s. for the third quarter. that is the u.s. growing above trend. ints of that in the retail sales figure. we also get the jobless claims figures today. they are expected to be muddied by the hurricane impact. in my next chart, i'll show you how much the initial claims were muddied by the last two hurricanes. you see hurricane irma and hurricane ian had a big effect on planes in florida. the print today will likely be muddied by that so will have to strip out the states a did have hurricane impact to get a good guide on where the labor market is going from here. tom: thank you for that preview of the date it expecting out of the u.s. and what will tell us about the broader economy. coming up, tsmc releasing earnings in a few minutes time. concerns rise about slowing demand in the chips sector, the concern red bells being rung by asml. click come through with some numbers that may give some relief? we will bring you the data when they cross. stay with us. this is bloomberg. ♪ i can't believe you corporate types are still at it. just stop calling each

the u.s. warning to israel, threatening some cuts to military assistance and -- unless more military aid is allowed into gaza. the u.s. has its peacekeepers will remain on the ground in lebanon despite israel urging them to leave. in the u.s., origin sees 8 -- georgia sees a record number of early voters. ♪ welcome to "world news america." we begin with a stark warning from the u.s. to israel over its conduct in gaza. in a letter leaked to the press, the u.s. has given israel 30 days to boost humanitarian aid access in gaza, or risk having some military assistance cut off. the letter, signed by u.s. secretary of state antony blinken, and u.s. secretary of defense lloyd austin, says recent actions by the israeli government including halting commercial imports, denying or impeding 90% of humanitarian movements between northern and southern gaza, are contributing to an accelerated deterioration of the conditions in gaza. the statement goes on to describe what is happening in the territory as a "d

the u.s. is poised to help support those same kind of defense operations. but there's an open question about what other kinds of allies might be involved here who were playing a role back in the last attack but who may not necessarily be in this round. we are still watching for all of that. there's still a lot that's unknown about how this could play out. this is something where the u.s. had a sense, had indications that this is what iran was preparing to do. so they have been in touch with israel about how this may play out from a defense perspective. it's really important to note that as of now, the u.s. expects that iran will be targeting mostly israeli government and military sites and not necessarily civilian targets. at the same time, of course, as you know, andrea, there's no guarantee civilians won't be impacted depending on what we see happen here as the day unfolds. >> erin, in israel, we are hearing reports that there were sirens, some air raid warnings in central israel. i don't kno

it seems like it is a hedge against the u.s. imposing sanctions against the countries we are not happy with. we did that with russia, and now i think the chinese are buying a lot of gold. haslinda: let's take you to china. investors seem to vitamin the stimulus. -- seem divided on the stimulus. but it seems you have drawn the line, it is been well supported from here. your thoughts on whether china has done enough to reverse that sentiment. we know hedge funds are not quite buying into the story. ed: i am not buying the story, because they are using the same old tricks to get their economy going. in this case, they are trying to make credit cheaper, trying to encourage people to borrow money. they would like to support the real estate market. but once this real estate bubble bursts, as we saw in japan and the united states, it can take a long time to get that sector of the marketplace to start improving. i do not see much hope for the real estate sector. maybe that will cushion the blow. but what they really need, if i may be so

i think one of the things that the u.s. has to be careful of is that as the israelis move forward as barack was reporting, that you're going to have a call to limit good to be israeli strike or the israelis breaks whatever they may be is so when you look at the map of the middle east, you see we are pre-positioned in all of these different areas in their beds sea and the gulf of oman in the persian gulf i, we will use assets to protect israel. the policies so far is not to aid the israeli please as they go engage in our sensitive operations. so we have a history of trying to prevent israel from attacking iran over the last few decades. and that i think will continue as part of us policy. but it's going to get really difficult if as the iranians respond potentially to an israeli strike on their territory i then of course that becomes an issue where we have to make a choice, but we will definitely not let israel suffer major consequences from an iranian attack if we can help it right? >> i mean, the u.s has said there'll be se

coming up, what the tsmc u.s. plant yields mean for the rest of the u.s. estment bringing supply home. bloomberg technology. and silver. i got the brochure from u.s. money reserve, and that's when i decided i can make more money with this than i could of leaving it in the bank, because if i put 20 grand of paper in there and i had 20 grand of gold, a paper ain't going to make me any money. so i just bought it because it's my insurance policy. if you'd like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you with important, never seen before facts you should know about making gold purchases u.s. money reserve is one of the most dependable gold distributors in america. caroline: today's big story. tsmc chip fields in the u.s.. what it means for american chip manufacturing at large. let's bring in bloomberg intelligent senior analyst mandeep singh. tsmc is getting superior yields even to where they were produced at home. what does it

the u.s. >> is going after houthi targets in yemen conducted on friday taking aim at the group's military and other capabilities. the u.s. says, the goal was to protect the freedom of navigation after weeks of houthi attacks on ships in the red sea bound for israel, a tv station controlled by the rebel says some of the strikes hit an airport in western yemen might want to go live now to northern lebanon and paul salam, the vice president of the middle east institute. thanks so much for being here with us again. so the u.s. striking targets in yemen in this week, the pentagon announced it would send a few thousand more troops to the region to help defend israel and to protect the u.s. troops. already there. but now the discussion is it the beefed-up us presence there isn't actually deterring a wider war or just making it more likely because it's emboldening israel. what, what do you think is more likely? >> well, i think the trajectory for about a year now has been one of a widening of the war.

the u.s. re aid for ukraine, president zelenskyy says nato membership is key to winning the war against russia. an former president trump and vice president harris are on a media blitz as the u.s. election campaign enters its final few weeks. ♪ welcome to world news america. we begin with the escalating conflict in the middle east as israel's campaign against hezbollah in lebanon expands. this was the scene just hours ago. local media footage showed buildings in the village being destroyed in an explosion. this morning israel launched airstrikes in beirut for the first time in five days. it's forces city target was an underground hezbollah weapons facility south of the lebanese capital. the u.s. is continuing to press for a cease-fire in lebanon, a position the state department reiterated. >> we are opposed to the bombing campaign. we are opposed to the near daily strikes and sometimes daily strikes and sometimes multiple strikes a day in densely populated areas in beirut. that is what weeks of

the u.s. hich demanded israel allow at least 350 aid laureates each day within 30 days or risk losing military assistance. a middle east editor has this update. >> the u.s. has not received the answers at once from israel over the strike that hit a five-story building in northern gaza. hamas officials say at least 90 people were killed or missing. the idf has spoken to the bbc and several other outlets to give some kind of explanation of what happened saying troops spotted a man with an ocular's on the roof of the building. what they called a spotter and made a decision on the spur of the moment to take that individual out. they say they did not intend for the building to collapse. the building was not the target. this is perhaps a sign of how the israeli army operates in gaza and certainly something the u.s. is expressing more and more concerned about. this is the biden administration. the u.s. state department spokesperson described it as horrifying. the u.s. has given israel a 30 day deadlin

mike: the u.s. lling for de-escalation and trying to push israel and hamas, another iran-backed terrorist group and has full as well to try to -- has below -- hezbollah to diffuse the violence. neither group has shown signs of being willing to talk this out. overnight we saw israel moving forces into southern lebanon, ground troops to conduct what it called limit ground operations. we may be here for a bit. the u.s. is concerned israel might be overreaching. caroline: we are the bloomberg technology show. often we associate israel with its technology prowess. how are we seeing that industry affected? is it too soon to be talking about that in this current instance? mike: it's a great question. we see the economic impact of conflict in the war in ukraine, the fallout from that. there is economic fallout here. it is early to tell whether businesses are really thinking about whether israel is a good place to be. for the tech sector, israel is a significant player. the israeli innovation authority says i

reporter: did the u.s. ve any indication whether or not they were successful that the iranians intended to strike any u.s. assets in the region? >> i will refer to the pentagon to speak to any details as to what the iranians may have been targeting, they are obviously the best position to monitor that and to speak to it. and i know they are having a briefing later today. i'll defer that question to them. reporter: we understand the embassy had all of its employees go home and shelter in place. >> that was out of an abundance of caution of knowing that an attack on tel aviv might be in the works. and so we took that step out of tel aviv and potentially jerusalem, out of an abundance of caution. in terms of what specific sites iran was targeting, i will defer to my colleagues in the pentagon. reporter: in terms of the partners he mentioned were involved at this time, were there fewer partners, less support for their engagement at this time around? >> i think that is still a specific. maybe it isn't a generalit

the u.s. and its allies here on c-span2. >> we have here representatives from the united states and some of our closest allies and partners. we're here because, unfortunately, with the wars in the middle east and europe, we've been reminded that we must be prepared to protect our interests with military force, should deterrents fail and we've seen what happens when deterrents fail, tragedy, death, destruction. and both of these conflicts have shown us in real-time the importance of scale and adaptability and cooperation in defense production. allies are emptying their musicians stock piles, demand for ships and aircraft and outstrip supplies. demand for, as i said munitions. at the same time the proliferation of technology have allowed longstanding weapons systems, if not obsolete, at least degraded in their capabilities. allies will need to combine their industrial efforts to keep pace with dynamic and intensifying security challenges and that's the subject of today's morning, looking at how w

let's stay on the u.s. 10-year which is back above 4.2. that's the two-year but at the long end as well you continue to see that selloff in terms of the treasury market. yields are up around two basis points across the curve. gold currently flat at $2,749. volvo cars is seeing full-year retail sales increasing between 7% to 8%, a downgrade to the previous forecast which had been 12% to 14%. very happy to welcome in the c.e.o. of valveo cars. jim, thank you for being here. what is underscoring the downgrading? >> basically we're seeing a softening in the market. lots of factors, first of all, inflation, which is an obvious impact to new car sales but also sales in the e.v. sector. partially the rollout has been slower than we would like to see. when you add all these things together, you start to see a slowing in the market. the trade tariffs are another specter on the horizon and consumer sentiment is changing as we approach christmas and people are looking at where they're going to spend their money. tom: jim, which for you is the most cha

it shows that the u.s. rack what israel is doing in terms of preparing for a strike on iran that many people expect. the question is how large it will be and how aggressive he will be. it is a theme you're talking about earlier. u.s. calls for restraint from biden and harris and other officials seemingly not to have much impact on benjamin netanyahu's military action. >> let me ask you about the killing of yahya sinwar for a moment because in president biden put out his statement he noted that he has provided israel with intelligence assistance to track 21 members a sense october 7. what is your reporting in this admission if you will tell us about how involved the u.s. is with israel's operations in gaza and generally across the board? >> i think there is no question the u.s. is helping and was helping israel track yahya sinwar. there is no clear evidence that the israeli account of them finding yahya sinwar almost by accident seems to be true. i think there is no question the u.s. has been tracking america

the u.s.'plomat anthony blinken presses israeli leaders for a cease-fire. israeli intensified its aerial assault on lebanon. at least zillion people are killed and a strike near the country's largest hospital. plus, leaders gather for the brics summit in russia. ♪ welcome to world news america. the u.s.'s top diplomat is in israel continuing his bid to end the widening conflict in the middle east. during talks on tuesday, u.s. secretary of state antoni blinken pressed prime minister netanyahu to use the killing of the hamas leader as a reason for peace. this is secretary blinken's 11th visit to the region since the war in gaza broke out. here he is earlier. >> i believe very much that the death of sinwar does create an important opportunity to bring the hostages home, to bring the war to an end and to ensure israel's security and that's what our conversations today focused on with our israeli colleagues, including arrangements for the period following the end of the conflict. >> and our corresp

u.s. data ahead of the fed next weekend and the u.s. election. china, south korea, taiwan among the markets are trading -- treading water today. helping the hang seng to keep its head in the positive rate -- positive territory as the likes of hsbc. big boost to the benchmark after it announced its profit beat as well as that share buyback plan. and it's urging three plus percent now. let's take a closer look at what we see in the japanese currency because that is where we see the recouping of the steep losses from one day ago, moving even further away from the 143.8 level. some do to safe haven demand. there is an element of that ahead of the u.s. election. data showing jobs arising, suggesting a tightening labor market. that makes the case for japanese firms to hike wages. something that the boj has a requirement for it to tighten monetary policy. but keep this in mind, another element is how arguably the july rate hike was prompted by the yen weakness. given where we see the yen now, there is a sense that may be traders aren't just writing off s

and the u.s. rt workers strike in almost 50 years in what economists say could cost the economy almost $5 billion per day. >>> all right. let's take you straight to some uk data in the form of the financial manufacturing pmi for the month of september. that came in bang in line with the flash estimate of 51.5 versus 52.5 in the month of august. it seems as though some of the uk budget worries way on the factors. that is still interesting to note. obviously, we'll get the budget and, of course, more insights coming from the labour party later on this month. >>> quick check of sterling-dollar. 1.3343. that is one of the best so far this year. why? cuts by the boe are slower than also where. a quick check of the equity markets and we're just modestly higher by the tune of 2.2%. bouncing back from the weakness in yesterday's trading session on the back of the autos downgrades and guidance cuts. today, when it comes to the sectors, banks are under performing because morgan stanley has downgraded the sec

what is the u.s. ahead of alexion the biden administration made clear to allies that they were not interesting they urged the israelis to choose targets. direct israeli calculations, israel has not finished the job. signal to the iranians that israel is willing to confront iran but not trip up a confrontation. tom: what have we been hearing from toronto? >> quite muted, iranians are buying their time. there have been public statements to play down the significance but we have to examine that in comparison to what they said, to have neutralized defenses including russian supplied s3 hundreds with large range, very advanced systems. essentially retarded their ability to manufacture missiles we have a limited iran and limited means fending off a future attack using warplanes to target nuclear or oil facilities. israel has not ruled out iranian retaliation however iranians are thinking whether it is time to husband their resources and await u.s. election to see vis-À-vis israel and the wider middle east. t

so, the u.s. has been expecting for some time because of exactly all the provocations that we have heard about so eloquently from matt over the last few minutes, the assassination of haniyeh in july, nasrallah's death last week by the israeli military, there has been an expectation and iran has threatened to respond. so, what we keep looking back is how did they respond in april? the expectation here at the pentagon is that we will seeing some that could go a little bit beyond april, but we shouldn't just look at numbers. so, as far as how it could escalate. in april, remember, there were 300 different projectiles. but they were all the different ones that we heard about. officials are talking more specifically this time about ballistic missiles. now, there were more than 100 missiles launched in april. but it feels as if what we're looking at here is the potential for even more ballistic missiles specifically this time. now, why that is concerning, they move faster. they tend to have a much bigger

the u.s. is sending an advanced missile defense system, and the troops to operate it, to israel to deter iran. the humanitarian toll deepens with a drone attack on israel and fighting in lebanon and gaza. u.k. prime minister keir starmer vowed to rip up red tape and pitched his vision to britain to executives at the international investment summit in london. we will have coverage. we will be speaking exclusively with the prime minister later today. tom: happy monday. european futures currently in lackluster territory after ending last week in positive territory, fresh records coming through on wall street by the end of play on friday, the earning story out of the banks particularly jp morgan lifting sentiment. another big week in terms of the earnings story with the likes of goldman and citi fleshing out their details read in europe, asml later in the week you have economic data in terms of retail sales out of the u.s. we have that decision from the ecb on thursday expected by markets to come t

the united states and the u.s. inister constantinople successfully, king's sentence in exile reversed. king story illustrates multiple themes that emerge the book and through its kind of different examples and case studies. first, we can see missionaries classified themselves and were often kind of by default, classify as in the same category as american merchants and sailors. when it came treaty protections. king story also shows the expectation that missionaries had for the u.s. government to have their back when they ran into difficulty. or, as emily describes it, missionary troubles. the outpouring of support for king in the united states when he was arrested put on trial highlights the growing role of a missionary public who made missionary problems into a domestic concern that politicians couldn't ignore. finally, and perhaps most obviously especially to those who don't spend a lot of time studying missionaries, king's desire to proselytize, even though that was sort of in violation of local laws while condemn

>> look, i think the u.s. pply these things consistently across the market and that's why we look forward to the fair playing field. if you look where we are, the pockets of where a.i. is starting to really takeoff across the world is asia and japan and many seeing not ofmof segments across the united states. as a company that is emerging and focusing on production and driving hard to delivers that scale, it just means we reorder some things and how we actually invest our time in different re regions. today, it's still early. the process to ship to the regions hasn't changed. we will work with the government on that. we will watch it closely and see how things evolve and adjust when things happen. >> just out of curiosity, are you in conversation with u.s. regulators or authorities on this? >> no, i think we are always in constant conversations. to us, it's about making sure we stay on top of all of the different regulations that are coming, not only on the u.s. side, there are things we have to make sure we fo

i think the changes in how the u.s. overnment has responded to these types of disinformation campaigns especially in the context of the u.s. elections, has been really positive. it's been very matter-of-fact, very intra-agency, we see the intelligence community, space department, doj, all of these organizations getting involved and being really united in the statements they are releasing and i think that is extremely important. the language has been very matter-of-fact, very apolitical, extremely transparent and so thorough. the september 4 indictment of several key employees in revelations around the tendency organization had 100 pages or some thing like that, just screenshots of fake websites, just reams and reams of evidence. i think it's so important to make this a security challenge and not a partisan issue. it's that public disclosure. i think we should use the laws we have, there's a question whether platforms should be penalized for this and i think going after bad actors publicly is an important process in step.

he left the u.s. elections coming up in early november plus the fed meeting, and there were thinking there would be too much confusion, a lot of caution. along comes the new japanese prime minister in the bank of japan and they gave a green light saying sell the yen for the next few weeks anyway, because the japanese election is not until the end of the month. [laughter] they cannot leave their good fortune. on top of that, you look at the jobs data, the private sector has given a bid to treasury yields, so there was a little bit of momentum for the u.s. dollar for the point of view of a touch higher in u.s. yields. then you get what seems like a one-way skew in terms of the yen . they do not want to raise interest rates, so that will play out in the yen, particularly when you consider the positioning. market was very neutral. at the beginning of august when we had that huge rally in the yen, it was skewed toward people already being short on the currencies, so they needed to quickly scramble to cover

is there a liquidity problem in the u.s. at a stock that size can rally that aggressively on the promise of sales growth? do you think there is a liquidity problem in the u.s. market or it's like, hey, let's own this >> i think it is volatility around the names that have been beaten down in the past. i think that matters what we have seen, too, and this matters all over the world it is not just the earnings report, but the guidance and going forward. >> you are not going to talk -- you've got to go what did the market expect him to say when does elon musk ever, like him or loathe him, a lot of viewers out there. when has he never said something bullish about sell s bullish about seales >> a lot of bull >> would you like to come back >> i would thank you very much. >> lovely to meet you. david groman at citi >>> coming up on the show, airlines pulling back from china. something about the horoutes whe they can't fly over. we'll bring you the details next has no idea she's sitting on a goldmine. well she doesn't know that if she

what is so attractive about the u.s. >> first of all in the u.s. we are one of the top. the u.s. he largest wealth manager market in the world. so in this country we manage the facility. we got pretty big already and well positioned. of course completely. a situation on the incumbent meaningful residence. they will be able to compete where we can add value in all areas. every time there's a wealth management and business. putting together with our leadership. having a very important global player. and an alternative in some cases >> why is it you think that the u.s. bounced back from the pandemic. so much quicker than europe did. >> the reason i mentioned before is the u.s. and also other countries but particularly the u.s. it is remarkable that was the case. one could argue that maybe the u.s. went a little bit too far. there is a price to be paid. the public is at this level. also the creation of inflation that was not necessary. government stepping in and taking concrete action. there is a big difference. for the reason i mentioned before, when you go to europe it is much more

two weeks out from the u.s. what does moscow make of the race that could have huge ramifications for russia and its war with ukraine? special report from our russia editor steve rosenberg. israel says it will carry out more strikes targeting hezbollah and its financial network in beirut in the coming hours as it expands its operation in lebanon. israel targeted dozens of key targets on sunday night. hezbollah says it is targeted and idf intelligence building in tel aviv, though it's unclear if the strike was successful. comes as israel says it has dismantled spy network gathering intelligence for iran. the police say all seven members have been arrested, alleging the suspects completed some 600 missions for iran, mostly involving sensitive sites and potential human targets. there are concerns in washington about leaks from within the u.s. government. the white house has said it is easily concerned about the leak of a pair of highly classified intelligence documents describing israel's reparations for a retaliator

u.s. interest rate cuts. antony blinken makes an 11th visit to the middle east as the u.s. renews its push for a cease fire between israel and iran backed militants. clear skies for sap as revenues jumped 25%. we will speak for the cfo of europe's biggest software company later this hour. we checked these markets with a focus on fixed income with a global selloff and bond markets and we will reflect on the u.s. 10 year shortly. you are looking lower on the back of the futures, currently up .1% down across the asian markets. a little bit of modest selling in u.s. stocks after that record that was pushed through. european futures pointing higher, waiting for a catalyst and fed speakers as well painting an uncertain picture but building out expectations that maybe they will go slower. s&p futures off by .2% and the nasdaq looking to lose around 68 points. let's look cross asset because that bond selloff is pronounced. it has moderated to some extent but 50 basis points higher over the last 30 days at the front end, currently back above 4%. part of that down to fomc speak but al

the u.s. and europe that's in focus at the imf, a reason i think a lot of people will be focusing on the possibility of yields going higher overnight with a number of different analysts talking about the 5% 10-year yield. now the question comes to the consequence of reacceleration. a five jonathan: percent 10-year yield. jonathan:more people leaning heavily into the so called trump trade this morning. lisa: here's the question and i was reading a lot about this this weekend, what is the trump trade? people are talking about it being yield curve steepening or how you get small caps rallying as a part of it. at the same time it's not clear what will actually be the trump trade after the fact. this seems to be the real question right now as we reach the final stretch. annmarie: seems like there are two trump trades, many people speculating that there is a whale and then there's the financial markets, who said that markets are going to be rotating more towards him with a scenario in the past severa

confirming the two u.s. destroyers were used to help shoot down at least some of those missiles that were shot from iran and then emphasizing as we've heard from everybody that a diplomatic solution is the only one for lasting peace. richard engel is in lebanon. richard, i cut you off many, many minutes ago to go to matt miller at the state department take me back to lebanon and what israel is doing right now. >> reporter: are we back? you kept me waiting so long, the audio went down but now we're back. so i was saying to your question, you said what is israel doing in lebanon. what we saw just a short while ago with the ballistic missile assault, much of that counter strike, the air defense systems took place over our heads. took place in lebanese air space because it seems the ballistic missiles were traveling from iran. that would put them through syria through lebanon on their way to israel. our colleague raf was catching them as they were crossing on to the israeli side of the border. the two of us are w

days after the u.s. y of state and defense threatens to pull military assistance to israel and less more aid enters gaza. the u.n. says some supplies are reaching the north of the territory. this comes after a fortnight when no aid were able to reach the people trapped. america's envoy to the united nations called the emergency meeting and told them that the u.s. government made it clear to israel that it must do everything possible to avoid civilian casualties in gaza. linda: a "policy of starvation" would be horrific and unacceptable and would have implications under international law and u.s. law. the government of israel has said that this is not their policy. that food and other essential supplies will not be cut off and we will be watching to see that israel's actions on the ground match this statement. >> a view from the u.s. at the united nations. let us bring you up-to-date on what is happening in lebanon. israeli strikes are continuing. the u.n. peacekeeping force said that israel fired at one o

the u.s. and its allies, including the u.k. arabia, all say middle east peace requires a secure israel alongside an independent palestine. but right now military action, not diplomacy, is setting the pace. caitriona: jeremy bowen there. israel's ground operation inside southern lebanon is continuing. two lebanese army soldiers were killed in separate israeli strikes on thursday. earlier the israeli military said its fighter jets struck targets belonging to hezbollah's quarters -- hezbollah's headquarters in beirut. most targets hit have been in southern lebanon. wednesday night, israeli airstrikes on central beirut killed nine people in a multistory building, housing a hezbollah affiliated health center. paramedics are among the dead. it comes as israel warns more people to evacuate their homes, saying the strikes will continue. for more on that situation, our correspondent sent this update. correspondent: the israeli army says hezbollah has fired more than 120 rockets today into israel, launching them from inside lebanon just

haslinda: the u.s. ection is the biggest risk in the short and medium-term, how are you positioning for that? john: there is adventurous in israel's potential response to iran, which is somewhat concerning. as far as the election is concerned, we are taking a 50/50 view. it is far too difficult to pick a winner. when you are in wealth management, when you are the trusted advisor of family wealth, you tend to allow someone to cross the road first, even second. haslinda: the cautious approach. john: exactly. i would rather not take a speculative view on the consequences of either a harris or trump victory. there is plenty of opportunity to ride momentum after. haslinda: how do you hedge against those risks? saint-gaudens typically, a -- john: typically, a diversified portfolio. haslinda: how? john: if you look at the performance of equities year to date and fixed income year to date, that is a classic example of a 60/40 portfolio and also the clear pricing of a soft landing. i looked at a broadening deepen

before we get back to the u.s. markets and talk about the story of the day we will talk about francine lacqua's interview with european central bank president christine lagarde. they discuss how the ecb views of the u.s. economy and uncertainty around trade policy after the u.s. elections is expected in just two weeks. president lagarde: fair trade is a key boost for growth, employment, innovation, and productivity. it is something we shouldn't throw away. in any period of time where this country, the u.s., has thrived, were periods of trade, not a period of i will retire behind my boundaries and play at home. no. sonali: a big u.k. media outlet called the u.s. economy the greatest on earth right now. do you agree? where does that leave the rest of the world? president lagarde: it depends where you are on the social ladder. you have to go further than looking at the sort of aggregate numbers or the average numbers. it means -- it depends on where you are on the latter. if you are at the bottom of the latter, if you

the u.s.'s answer to that was, well, the ussr collapsed, congress never would have voted on this and we moved on to other things. so i think you're right there. i'm not sure how much influence we could have had over the schemes that you describe very well in the book. first of all, the voucher privatization and loans for share when they thought yeltsin was going to lose the election and so the oligarchs got together and raised money for him and then, you know, bought for a fire sale price some of the most important assets in russia. i don't know how much we could have had, but i think it would have made a difference at the beginning. of course, we are where we are now. let's move on now to the first, if you like, invasion of ukraine in the 21st century by russia in 2014. so, in 2014 putin annexes crimea and russia begins to support what were called separatists but were really russian proxies in the eastern part of ukraine and the administration has to respond to that. i wonder if you can talk a

the u.s. the early stages of an investigation into chinese hacking of american telecom companies. investigators say a hacker may have access to court authorized wiretapping information. we will discuss this with former chief of staff kiersetn todt. how do we know it is chinese hackers? kiersten: we are learning about the effort. this malicious actor, saul typhoon part of a prc state-sponsored cyber campaign and this one in particular we believed to have hacked into internet service providers a little over a month ago. we are researching if in fact it hacked into communication companies. we believe it is the start of a broader campaign. earlier this year they attacked the i.t. networks and a cyber espionage effort by china against these organizations. ed: the focus is infrastructure. telecoms. water infrastructure. your expert analysis on that? kiersten: it is all infrastructure. when we look at intelligence over the last two years -- last year the threat assessment from the united states intell

the u.s. economy is still chugging along on many fed officials this week have been sounding a more cautious tone on cuts. that's also being echoed by bank of american ceo brian moynihan speaking with us exclusively earlier. >> we got to get back in line. they are on that path, they are late to the game. they have to make sure they don't go too hard now. that's what were all trying to figure out watching the data. haslinda: we will have more from moynahan a little later. our guest is advising investors to position and asia investment grade bonds because of that potential volatility in the u.s.. good to have you with us. the big question is what the fed will do. we see how yields are trending higher, 4.2, people say will get to live in no time. do you agree? >> if you look at what happened in the last couple of days, the market certainly has been repricing and the bond deal has ticked up and the u.s. dollar has been stronger. if you were to take a step back your to date, the 10 year bond deal in