tom keene.eme of the international monetary fund and the international command is the force of the iff chairman. but far more than the president, it is noted as well. we begin in one hour into the moment. he taught a course at the blue school chicago central bank, what is the fact right now for jay powell? >> the fact is central banks are in a bad situation. they have started late in raising rates. you could see already some trends breaking the price level. since late 2000. they focus on the inflation rate, elements that have gone up strongly and now the central banks are doing a test to catch up with reality. there is some risk in that. i now if you monetary policy as an independent risk factor. i think monetary policy has a way to go. i don't believe the current inflation rates will come down. there are -- tom: there are so many ways to go, do we need to abandon the 2% level? it is something traditional economics is comfortable with but part of a dilution to move from a 2% level of inflation t

tom keene with a special guest.mportant press conference at the 9:00 hour. we will review that television and radio as well. right now in these unusual times, any unusual interview with raghuram rajan, former governor of the central bank of india. he has provided two magnificent books of the era. he defined the crisis of 2008 and 2007 with faultlines in "the third pillar." "the third pillar" has been prescient about the changes of america, none of which we could talk about for there is only one topic. the topic is the strong dollar, what it means for our bloomberg surveillance audience, and you with great financial sophistication are watching cash in international overnight lines calls while plans in nations that don't have those instruments available. tell us your view of liquidity. raghuram: this is a phenomenon across the board and reflected in the u.k. the central banks flooded the markets with the most liquid asset on earth which is central bank reserves, tens of trillions during the pandemic. now that we are d

tom malinowski and tom keene junior, his republican challenger, considered to be the most competitive in the state this election cycle. the debate was hosted by the new jersey globe. >> welcome, everybody to the new jersey globe today. between candidates for congress in new jersey's seventh district, the democratic incumbent, tom malinowski, and republican challenger, tom keene, junior. i'm david while steam, editor of the new jersey globe. thank you for participating in this important exchange of ideas that permit voters a chance to compare your views and decide who they want to represent him in congress for the next two years. every candidate will have 90 seconds to make an opening statement. after that, i will ask a series of questions related to national issues and the campaign for congress in the seventh district. for better or for worse, every question in this debate has been prepared by me. i've not shared this with anybody. we have a lot of ground to cover . respectfully i asked the candidates stick to their allotted time. if a candidate goes too long, i will hold my hand up.

tom keene is down the washington, d.c. for us right now. it is cpi thursday. tom: it is cpi thursday and in 15 plus years of coming to these meetings, the april meetings, and the annual october meetings, there is no question that cpi united states inflation is front and center for every single attendee of the iif, the world bank, and the imf. today is an important day for us. we will be speaking with the managing director. she has a full plate of risk and financial instability to discuss. jonathon: looking forward to the conversation. what a lineup down in d.c. lisa: it's such a difficult time. central bankers are saying, hey, fiscal guys, it is on you. fiscal guys come up and say, no, we are going to punt. jonathon: joining us now is peter chat while. we have wanted to catch up for a number of weeks now. can you help us identify the spillover from what's happening in the u.k. out to international markets, perhaps even u.s. credit? >> absolutely. the events in the u.k. means there has been selling of global assets. if it is liquid, it has been sold. that is the

. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramowicz. jonathan: here we go again. this is bloomberg surveillance on bloomberg tv and radio. with equity futures up a little more than 1%. tom: you are going to say same week same whatever. jonathan: i was dr. to say anything like that. what an extraordinary week. all of the news in the united kingdom, you can brief us on that. all i need to know is i have restriction, restriction, restriction on the screen. the bloomberg financial conditions index is where it has been. jonathan: super volatile week. kitchen oops, goodbye crisis -- kit jukes, goodbye crisis, hello recession. lisa: we have talked about who blinks. jeremy hunt speaking today. the key question is what can he do to do is -- to restore credibility for this administration at the time there is a huge premium baked into the gilt market and the pound. jonathan: mike wilson of morgan stanley almost on the edge of constructive. lisa: he is basically saying things good look good and then they look really bad. he is saying there could be

. >> this is bloomberg surveillance with tom keene, jonathan ferro and lisa abramowicz. tom: good morning, mr. pharaoh is gone. we are here and lisa, we put our heads together and guess what, we are considering it. thursday. there's so much going on this morning. we'll go to london, lizzy burden briefed on the movable feast of the collapse of the british government, we are not there yet but there are reports coming. i saw something from scott moments ago. we've got to go over to the bond market, which two days in a row pivots to higher yields. lisa: this is frontloading thursday. jim bullard coming out yesterday with kathleen hays and saying they need to frontload. some say they're going to also continue after that. that two year yield, we are almost at 4.6%. we are pricing in 5% fed funds rate next year. this is a game changer for how far the fed can go and how much it can withstand. tom: jonathan ferro does not like to do math, we're going to do it. a huge negative, 10 year real yield, a new high on the 10 year real yield, we have made it 88% of the weight back to where

and tom keene. >> amazon taking. apple just holding up. >> what it is is this is accounting 302 on friday. this is more advanced. it is about effects -- fx. if you take out the fx adjustment, it was not all that bad. >> can you tell amazon that too because it is down 13%. >> the international is a perfect example. sales internationally were up 20% but after fx, they were slammed 5%. >> lisa, what surprise you most? the number of sales and earnings or the way the public reacted? >> how much is just the magnitude of the moves what comes out in time when we have big in so much of where the nasdaq has been? it is not just in the earnings for this quarter. the forward-looking is gloomy, even for apple. >> for amazon, it is really gloomy. this is their worst forecast for the holiday ever. >> a declining user base. how much can you actually see this before you have to change thank to -- fang to ang and then just "ng". >> i do not agree with this. to the bundled in together. do not put meta with amazon because that is a trai

jonathan: live from new york city, alongside tom keene, lisa abramowicz, i'm jonathan ferro. down on the s&p, jobless claims are big this morning. tom: 207,000 four week moving average on claims. a fully employed america. the fed wants us not to be fully employed. jonathan: well the fed might get something extra and maybe we can look at the soft landing. we can decide how skinny the leading strip is. we have to talk about this debate over a series of months, but he got people hoping. lisa: they got people talking about the pivot which i know. -- tom loves talking about. it's going to kill you. and as we have seen come out good news and good news being bad news, trickling into the fed again on the market. that said, going forward, it is because they are consistent. they're going to be showing until they have seen inflation come back. this is very clear cut. either the fed speakers are wrong or the market is wrong. jonathan: are they going to cut in the recession is my number one question. there was a speech yesterday, got all the way to the bottom and in the second to last para

exactly when. >> i think we are getting close to a blank. >> this is bloomberg surveillance with tom keeneramowicz. tom: we are together with you, the first day of the fourth quarter of 2022. a slow news day. jonathan: how much more news do you want? tom: we were overwhelmed the last week, and here we are with a u-turn by the british government essentially, but other u-turns out there, as well, including the economic data. jonathan: the biggest issue last week was not the announcement from the previous week from the u.k. government, it was out of the market responded to it. the instability, i central bank have to step back in. that is a key fear for many people, that we start to see more of that across europe and perhaps here in the u.s. tom: my theme of that research weekend, many people saying don't get distracted, as the chancellor was distracted by tax, from the u.k. ballet. jonathan: the question we were asking in the last six months, do we have to make a choice between accepting higher inflation or recession? i wonder if that question has changed a little bit. is it now between reces

. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramowicz. jonathan: good morning. this is bloomberg surveillance on tv and radio. i am jonathan ferro. futures up again on the s&p 500, up 1.29%. tom: goldman coming up a little bit later. it'll be interesting after the generally good news we saw. it is finally acquired tate, lift inequities. i am going to one person. brian moynihan. do we get the same surprise from solomon like moynahan? he will say business is not all that bad. jonathan: we will talk about the other consumer banks. brian moynihan saint consumers are spending, they have good credit. consumers are in very good shape. you had jane frazier at city saying the u.s. economy remains resilient. we know all of those things about the u.s. economy. tom: you have to go to the conference calls and this dreaded forward guidance. gina martin adams is really good at this at bloomberg intelligence and she says there is a wait to looking out further like there was a year ago. jonathan: early days, but are we skipping over a very low bar for the

this is bloomberg surveillance, live on tv and radio along with tom keene and lisa abramowicz, i am jonathan ferro. tom: we see the dow up 1200 points. but i've got to go around the globe from sydney to part this morning, how do you link in this shock from the bank? lisa: basically saying that we are closer to peak yield. does that count as a blink? tom: they blinked, but not in sydney. lisa: does this symbolize that central bankers around the world are heading the threshold for how much they can tighten policy in the face of financial stability risks, even after all of that fed speak that i ignored where they basically come out and say we are not going to blink and we have considerably more to go. jonathan: let's get to the numbers and talk about where we are now. the two-year was -- the 10 year was a little north of 4% last wednesday. you've got this broader story where we have seen peak bond yields. tom: we are dated in the fourth quarter. we are also data-dependent up to friday. jonathan: is that bullish if we see peak bond yields in our future with weak earnings just around the corner?

tom keene back in a couple days. s&p 500 slightly negative, down .2 percent.asis point in germany, 2.20%. 96.94 euro-dollar, down about .5%. that is the weaker euro. lisa: how much is because of the conflict between ukraine and russia and the acceleration? and how much is because it feels like the ecb is even more between a rock and a hard place in the federal reserve not able to tighten as much and credit concerns about peripheral yields? you see that with yields rising today. jonathan: and we will see that again in two weeks time. let's go over to maria. maria: we are joined here by the dutch deputy prime minister and finance minister, sigrid kaag. today we have to talk about ukraine. what we saw this morning is potentially a country that was blitzkrieged almost by russia. when you see that not just as a politician but as a european, how do you respond? >> it is horrific, the indiscriminate shelling of innocent civilians, real violations of international law, and i have heard the commissioner speak of war crimes. my heart goes out to the people of ukraine. t

announcer: this is "bloomberg surveillance" with jonathan ferro, tom keene. >> good morning. this is bloomberg surveillance prayed i am jonathan ferro with lisa abramowicz coming up later and the special guest including apollo's jim alto. features down about 1% on the s&p 500. we have a lot to talk about in this bull market. the bank of england today. >> the bank of england continuing to have their backs against the wall. they have no choice in the matter. they are trying to do with the political situation that is across the system. the new acronym to your -- du jour. you are setting up for a showdown as you basically have the program ending, quarter to beginning and the budget due on the same day. >> we have a showdown, haven't we? greg is going to be with us for the hour on a lot of this. the bank tries to sign these operations of purchases. to be expect to wake up monday morning and see this continue. >> any time you draw a line in the sand, there is generally a bad idea? i really worry about that. the markets will tested them. i think most investors believe this is a prog

from new york, this is bloomberg. >> tom keene.opean central banks sent to look past growing fears of a recession today. expected to raise interest rates by 75 basis points for the second time in a row. the ecb is trying to quell inflation running at almost 10%. five times the ecb's median target. the biden administration enforced a scale back a plan to impose a cap on russian oil prices. that follows skepticism by investors and growing risk in financial markets. instead of strangling the kremlin's oil revenues by imposing a strict lid on prices, the u.s. and eu are likely to settle for more loosely cap at a higher price than one envisioned. credit suisse most are medic steps yet to repair the bank. it plans a 4.1 billion capital raise. investment banking thousands of job cuts. we spoke with credit suisse ceo. >> we want to go through the transformation after next three years with every strong capital base. and leave the transformation also with strong capital base. it will become profitable definitely from 2024 onwards. lisa: cred

. >> this is bloomberg surveillance with jonathan kane, , tom keene and lisa abramowicz. good morning. this is bloomberg surveillance on tv and radio, i am jonathan ferro. two big days up on the brendan: -- on the s&p. tom: if adp jolts you like it jolted yesterday, what do these markets do. lisa: how much the market counts point and kindly respond with a rally? that is what we saw -- point and respond with the rally? that is what we saw with the bigger drop than expected in the job openings in the u.s. is this reason to feel the belief that the fed cannot go as high as they say they are going to? jonathan: it is a game we have periods where soft landing starts to do better, you have contractions, then you have job openings drop more than one million, soft landing. and then you have cpac next week. tom: you know this shows what we're doing here. what matters is the data, as we have seen the last two days, and looking forward to october 14. lisa: i go back to what mike wilson said, which is a playbook that used to work does not work, and that is what we should be looking at

. >> this is berg surveillance with tom keene, jonathan ferro and we sever avoids. jonathan: i heard them by name. i told -- i was not going to speak to you this morning. tom: do you like my bowtie? somebody on radio said i wore this for pharaoh. jonathan: no love for you. live for our audience worldwide, good morning, this is bloomberg surveillance. equity futures just about positive on the s&p. what a turnaround friday. would start there. tom: his clients pushing very optimistic into the end of the week, he resets over the weekend. i would focus on destruction sooner, china -- sunak, china. the markets are speaking volumes. jonathan: i agree. the u.k. has punched well above its weight. china doubly down. some real market reaction in response to that. chinese currency is weak and the equity market really struggled overnight. tom: the funds flow out. 7.267 yuan was a big deal, 7.26 is even bigger. but given that heartbreaking -- i editorialize, that video we saw. to the markets tell their political step of what to do like the markets told liz truss would? jonathan: a

kailey: tom keene growing up and surviving the irish spring. $.99. tom: futures at -17.s is bloomberg. ♪ lisa: keeping you up to date with news from around the world, with the first word, i'm lisa mateo. russian president vladimir putin is set to hold a meeting of his security council to discuss migration issues as russian occupation officials called on residents of her son to evacuate, warning of an impending ukrainian offensive. the region set program and officials were evacuating for the main city but about moscow forces would keep fighting. mitsubishi financial group seems to be evaluating an acquisition of some loan portfolios from credit suisse to expand its u.s. business. japan's biggest lender is also betting bundles in various sectors. they are racing to raise funds with just over a week to go until an unveiling of a critical turnaround plan. the global smartphone market had its worst the recorder since 2014 as economic headwinds pushed consumers to delay discretionary purchases like personal electronics. shipments of smartphones around the world fell 9% in the

. >>> and we should note we invited tom keen jr.his campaign did not respond. >>> he has spoken out against vladimir putin and his br brutality. now he is facing criminal charges in russia. we're going to speak to a russian author and journalist wanted by the kremlin about his message to putin and fellow russians back home. d, no matterh i paid, it followed me everywhere. between the high interest,t, the fees... i felt trapppped. debt, debt, debt.. so i broke up with my credit card d debt and consolidated it into a low-rate personal loan from sofi. i finally feel like a grown-up. break up with bad credit card debt. get a personal loan with no fees, low fixed rates, and borrow up to $100k. go to sofi.com to view your rate. sofi. get your money right. ♪ [sfx: stomach gurgling] it's nothing... sounds like something. ♪ when you have nausea, heartburn, indigestion, ♪ upset stomach, diarrhea. ♪ pepto bismol coats and othes for fast relief... when you need it most. moderate to severe eczema still disrupts my skin. despite treatment it disr

jonathan: tom keene took the day off. live from new york city this morning, good morning to you. cpi in europe coming in really hot. 10 point 7% on cpi in the eurozone this morning. lisa: third quarter gdp grew more than expected at 0.2%. how much are we looking at the idea of consumer prices rising faster than expected but the economy is still hanging in, prodding the central banks to raise rates. jonathan: 75 basis point interest rate hike in europe and it doesn't look good for these banks to maintain financial stability. lisa: people might be getting it wrong this time. they say inflation will drop. how much the fed will start to confirm that believe and what does the market do? to the understand this means slower growth, slower bleed, slower margins than some companies we see? jonathan: and how does the fed communicates some sort of step down? without triggering easing of financial conditions. lisa: how did they communicate that there is pain and how does it get confirmed by earnings that have not capitulated? people don't they have expressed the full pain that will be coming

[applause] tom malinowski and faces is republican challenger tom keene. at 9:15, anti--- angie craig debates republican opponent. the maryland governor dan cox and democrat wes moore debate at 10:30. in virginia, beginning at 11:30, incumbent billy faces republican challenger jan. do not miss a single mom on c-span. take because with you on the go, with c-span now. our free mobile video at. be sure to visit c-span.org/campaign 2022. your website for all our midterm election coverage on demand. c-span, your unfiltered view of politics. quick c-span is your unfiltered view of government. funded by these television companies more, including comcast. rates this race leans republican.

because that was the first managing director with tom keene in washington dc. breaking news.to sell their stake in the parent company and that is according to people familiar with the matter. prices at $2.1 billion. this is one of china's largest gnostic conglomerates and according to people familiar, it is disposing its assets for debt repayment. the group is entered by the state and it is asking not to identify the matter. >> indeed, it is not the only one. let's have a look at toshiba. 1.6%. this is down to the stakeholder of the company. all of this at the risk of the bidding groups running into obstacles. there are financing commitments for some banks. this is all led by the state bank investment fund. i believe this was set for the seventh of november. globex turning cautious. this is down to rising borrowing costs. oddly enough, not so much in japan. that is what we have with these two stories. >> still to come, we are joined by the deputy governor of the rb i to discuss the central bank plan for additional chemistry and the outlook for interest rates. keep it here wit

beginning tonight at 8:00 p.m., tom malinowski seeks a third term as he faces his republican challenger tom keene angie craig debates republican tyler kistner. the candidate for maryland governor debate at 10:30 p.m. in virginia, beginning at 11:30 p.m., elaine luria faces republican challenger jen kagan. don't miss a single moment on c-span. take us with you on the go with c-span now, our free mobile video app. be sure to visit c-span.org/ campaign2022, your website for all election coverage on demand. c-span, your unfiltered view of politics. >> washington journal every day we take your calls live on the air on the news of the day and discuss policy issues that impact you. coming up sunday morning, georgetown university's matthew crane inc. discusses the nuclear threat posed by russia and nato's efforts to support ukraine. university of virginia mill's hitter presidential recordings program chair mark silverstone talks about the 16th anniversary of the cuban missile crisis -- 60th anniversary of the cuban missile crisis. sunday morning on c-span, on c-span now. join the discussion with phone ca

eastern, incumbent tom malinowski faces challenges to keene. then from minnesota, democratic congresswoman angie craig debate republican tyler kesner. republican dan cox and democrat was more debate at 10:30 and in virginia at 11:30. the incumbent congresswoman elaine luria faces jennifer kiggins. watch on c-span, c-span now, our free mobile video app and visit c-span.org/campaign2022, your website for all our term coverage on demand. c-span. your unfiltered view of politics. ♪ >> sunday on cue and day, northeast -- q&a, a book which examines racial violence experienced by blacks in the south and the jim crow legal system that supported it. >> we are focusing on the south because that is where the violence was concentrated and that is whlks were disenfranchised. they had no ability to affect their political realities. because they had no jurors, no judges, but no sheriff's, they had no police officers. they were exposed not only to the violence at the hands of law enforcement, but also others in positions of authority who felt their role was to

keen. now she is planning something truly out of this world. are you taking tom cruise to space?of paint, as the movie industry this city was built on is going through huge transformation. the pandemic, the cost of living crisis and the rise of the streaming platforms means for the average movie lover, there�*s no place like home. i think we can enjoy things at home on streaming, of course. but in order to make movies matter, to create movie stars and to create, you know, directors and careers, it really does need that theatrical experience. ..the power to destroy themselves... langley has wooed big—name directors like christopher nolan. his new film oppenheimer will be released by universal. steven spielberg, too, is back at the studio where he made et. back to the future was filmed here, is that right? back to the future, to kill a mockingbird. it is all a long way from the isle of wight where langley,

keen. now she is planning something truly out of this world. are you taking tom cruise to space?ment with tom that does contemplate him doing just that, yeah, taking a rocket up to the space station and shooting and hopefully being the first civilian to do a spacewalk outside of the space station. the hollywood sign's just had a lick of paint, as the movie industry this city was built on is going through huge transformation. the pandemic, the cost of living crisis and the rise of the streaming platforms means for the average movie lover, there's no place like home. i think we can enjoy things at home on streaming, of course. but in order to make movies matter, to create movie stars and to create, you know, directors and careers, it really does need that theatrical experience. ..the power to destroy themselves... langley has wooed big—name directors like christopher nolan. his new film oppenheimer will be released by universal. steven spielberg, too, is back at the studio where he made et. back to the future was filmed here, is that right? back to the future, to kill a mockingbird

keen. now she is planning something truly out of this world. are you taking tom cruise to space?ontemplate him doing just that, yeah, taking a rocket up to the space station and shooting and hopefully being the first civilian to do a spacewalk outside of the space station. the hollywood sign's just had a lick of paint, as the movie industry this city was built on is going through huge transformation. the pandemic, the cost of living crisis and the rise of the streaming platforms means for the average movie lover, there's no place like home. i think we can enjoy things at home on streaming, of course. but in order to make movies matter, to create movie stars and to create, you know, directors and careers, it really does need that theatrical experience. ..the power to destroy themselves... langley has wooed big—name directors like christopher nolan. his new film oppenheimer will be released by universal. steven spielberg, too, is back at the studio where he made et. back to the future was filmed here, is that right? back to the future, to kill a mockingbird. it is all a long way fr

keen. now she is planning something truly out of this world. are you taking tom cruise to space?ng just that, yeah, taking a rocket up to the space station and shooting and hopefully being the first civilian to do a spacewalk outside of the space station. the hollywood sign�*s just had a lick of paint, as the movie industry this city was built on is going through huge transformation. the pandemic, the cost of living crisis and the rise of the streaming platforms means for the average movie lover, there is no place like home. i think we can enjoy things at home on streaming, of course. but in order to make movies matter, to create movie stars and to create, you know, directors and careers, it really does need that theatrical experience. ..the power to destroy themselves... langley has wooed big—name directors like christopher nolan. his new film 0ppenheimer will be released by universal. stephen spielberg, too, is back at the studio where he made 80. at the studio where he made et. back to the future was filmed here, is that right? back to the future, to kill a mockingbird. it is

this idea of seem keen as the destin leader of china are this idea that china fees is crucial challenges for the next a years to con. 19 children who reaching to tom young, jin chang didn't talk to a crew to shoot with, didn't do that. and she can pin is the only leader who has the capability, who has experienced till the 3rd that the country through that period of challenge . i think that's also a key message to watch out for. according to a news anchor at another state on channels cg, dn cctv need not have bothered. he argues that tripling down on president, she is what the chinese people already want. the challenge public. they have high confidence in the congress party of china over the part of the 40 plus years. for example, we are talking about 70000000 people being lifted off and poverty. i think of their confidence in the party, it remains very high. so in that sense, i oldest, i don't think they need the chinese media to prepare them for anything. here. the chinese comes party has constructed this nationalistic narrative, ideological legitimacy. she didn't being a political strong man with emission, save the chinese commerce party from th