the u.s. as a historian, one misunderstanding i try to correct is that our interest is not in events processes when we talked about the fall of kabul, we are not talking to much about an event that is still laying out good yesterday marked the 21st anniversary of 9/11, which month later led to the american invasion of afghanistan. months shy of 20 years later, the u.s. withdrew from the country in a chaotic form, leading to the return of the taliban. despite the subsequent violence of the american political class and screaming disinterest of the american electorate -- seeming disinterest of the american electorate, that withdrawal marks neither the end of the war on terror or the suffering of the people in afghanistan. thousands are waiting in camps for possible settlement in the u.s. or other western countries which may never come. millions in afghanistan are taft by a repressive regime whose interest and ability to govern are limited at best. there is situation is compounded by an internatio

the u.s. to conduct an independent investigation into the palestinian-american journalists killing. the palestinian authority says it is pressing international bodies for accountability. al jazeera's legal team plans to submit a case with the international criminal court at the hague. her case may be closed for the israeli military, but her family says our dear shireen cannot be swept aside. folly: israel has changed its statement several times. i was after her death, these really government began circulating video suggesting the idea she may have been shut by a palestinian fighter. two days later, a change that account same its possible one of their soldiers may have killed her. in the weeks that followed, several media outlets concluded it was likely she was killed by an israeli soldier. on july 4, the u.s. says it believed it to was likely killed by an israeli soldier, but that there was no evidence she was deliberately targeted. two months after that statement, israel finally acknowledged

the u.s.nd china are on a collision course, what is the root of it? >> it is a complicated question and i think the answer has to do with china's power trajectory on the one hand and its ambitions on the other. we have seen over the last 25 years china has articulated more and more grandiose aims as to what he wants to accomplish in the world, everything -- taiwan which is a long-standing objective of the ccp. to establishing itself as the primary power in asia perhaps around the globe. that is something that often happens as countries rise in power, their ambitions grow as well. that is not surprising. i think what is important to note is that china's trajectory has changed over the past 15 years. china is no longer rising as effortlessly as it was this was -- as it once was particularly in the economic realm. it is generating more and more resistance from countries that are asked -- opposed. china is because the fight as the peaking power, continuing to develop more formidable coercive capab

two u.s.ors created a bill that will crackdown on entities shall companies that maintain agreements with chinese companies. under the agreement, chinese companies will have to use new symbols with brokers providing warning labels to investors. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: the 21 million residents in southern -- southwestern china or in lockdown after being given just a few hours warning. it sparked panic of buying as groups race out of town with fears over a lengthy lockdown like shanghai. let's bring in stephen engle in hong kong. what's the latest that we know? >> it's another blow to the area which is at the heart of one of the most populated provinces in china. it has been under a drought and power shortages, now it is under a full citywide lockdown. 21 million people. ever given six hours notice from officials before the lockdown was impose

u.s. leadership international stage has proven critical capitalizing our partners consequences. i have yet to see us take the same effective approach on africa. it's hard to comprehend how the youngest fastest growing continent in the world, a region that contains 50% and vast array of minerals and other natural resources failed to garner a clear comprehensive engagement strategy. it is clear that africa status nation and people is not the basket case many narratives portrayed to be. the continent does face challenges that must be met with strong unified international support. priorities developed across the country with support of our partners around the world include combating climate change, diversifying energy resources, stimulating economic growth and improving public health outcome. in the face of democratic backsliding, we have a collective responsibility from good governance and protect human rights. i've heard this from our african counterparts time and time again. they want to pa

the strength of u.s. sanctions comes up in the privacy of the u.s. dollar loan, also from the fact the u.s. is home to innovative companies and people who are transacting in a global economy. the key to effective u.s. sanctions is to ensure businesses that are bleeding in the newem digital economy remain in the u.s. to serve u.s. customers. most significant companies and the internet age were born in the united states, the u.s. can become to leaders of this new economy. white house wrote in the public last week u.s. companies lead the world in innovation. digital asset firms are no exception. this should be a clarion call to a race to create and serve businesses in this new economy. every morning when i walk by that painting of alexander hamilton reflect on a quote from miranda's musical what is a legacy? building seeds in the garden yos never get to see. this is our legacy our opportunity to plant the seeds to ensure the democratic principles thrive in a growing financial system. thank you and i look forward to answer your questions today. >> thank

u.s. economy is faring better than the rest of the world. >> the u.s. is in somewhat that are shaped the nero -- somewhat better shape than europe. >> it is highly unlikely the euro zone can avoid a recession. >> right now the dollar strength is as much of a good thing as it is a bad thing. >> i think the energy crisis that is brewing is something investors cannot ignore. >> this is "bloomberg surveillance," with jonathan ferro, tom keene, and lisa abramowicz. jonathan: tk did not turn up this morning. good morning. this is "bloomberg surveillance" on tv and radio. alongside lisa abramowicz, i'm jonathan ferro, together with the brilliant kailey leinz. equity futures positive on the s&p. over the last seven days on the nasdaq, a seven-day losing streak. lisa: it has been brutal, especially the why. one of the most interesting things that happened overnight was weaker than expected chinese economic data fueling this feeling of deteriorating economic trajectory globally with the european ene

haidi: the u.s. trading day, we have the latest central-bank action and the markets continue to percolate through all of that. our global macro strategist and policy editor are here with us. when it comes to the overnight session, is there a sense -- or is the market still yearning to see the upside? quarks the fed still wants to see the upside. there's a new phrase going around the street it's called hawkish this. traders believe that we have reached the pinnacle of the fed's hawkish event and while jay powell will continue to push the hawkish mantra, the data will continue to suggest that they have reached the pinnacle and it's time to turn if not pause in the coming months. demand commodities housing, everything look at is starting to come down. i would also argue that the 2% number is something that he just invented and 3.5% inflation is not a terrible thing. haidi: we have a few of the other 20 central banks making their decisions this week. >> what was interesting today was the bank of england.

the u.s. military is doing now in my homeland. amy: all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. russia has ruled out the prospect of talks to end the war in ukraine after ukrainian troops made major gains reclaiming territory seized by russia after its invasion in february. on monday, kremlin spokesperson dmitry peskov said the conict would continue until russia's goals had all been achieved. meanwhile, ukraine is appealing to the u.s. and its allies for more heavy weaponry. president volodymyr zelenskyy on monday urged the pentagon to speed up deliveries of weapons systems, say a pair of counteroffensive's had broken a week long stalemate with russia. >> since the beginning of september, our lawyers have liberated more than000 square kilometers of ukrainian territory. our troops are continuing to advance. amy: later in the show, we will look at how the war in ukraine is leading to an energy war in europe. we'll speak wi

it eased early in the u.s.n strengthen did that appears to be driving oil and all commodity trades in the past few days. in terms of outlook, goldman sachs is bullish, seeing 125 brent crude by the end of the year and now they have cut it back to 100. still bullish but still with strength. haidi: let's get a quick check of the headlines. a dozen u.s. drinks -- banks have agreed to pay the fines of unauthorized ads on a messaging app. this includes bank of america, citigroup, and goldman sachs. elon musk is being accused by twitter of having a text message exchange. the subpoenaed texts -- the checks had been subpoenaed. morgan staley was musk's chief financial advisor. we are watching shares in tokyo after results from a final phase study showed that biogen and their partner have found a drug to significantly slow down the progression of alzheimer's disease. >> this is the first results to be significant and successful. a positive surprise for them and they will apply for full u.s. approval. it is already in fr

despite the fact the u.s. administration, their priority of getting, the u.s.ervice members out of the harm's way is a good approach that was positive i think in my perspective. but that process could have been managed. in my assessment i think the u.s. public, those who've been involved in whose sons and daughters have served in afghanistan and who have had their family members in afghanistan and were invested, members of media think tank. george washington university and a number of others have been involved. i would like to say we are grateful for this attention despite the fact on the policy level those like ukraine and taiwan and others the people are engaged and trying to make sure that the u.s. public have invested and diplomats have invested that 20 years of investment do not go to waste and we do not see a repeat of what we saw in 9/11 and i would encourage everyone to stay involved and keep engaging on that. the act is a very critical and important if there are 80,000 rightta now it's the least and given the credentials. at the same time it's importan

u.s.utures extending gains in the early asian session. this of course after the s&p 500 moved higher in the session after, losing a 1% in the morning session. we had a rebound when it came to the tech giants. banks rose ahead of the fomc decision expected on wednesday. we have the weakening coming through in the afternoon that actually led to oil gaining ground in the u.s. session, and in the asian session we are seeing it above $85 a barrel level. but we are very much focused on what treasuries are doing because the selloff continues. the 10-year yield suppressing 3.5% for the first time since 2011. . the main selling pressure coming on the shorter end, given the jumbo rate hike expectations. the 2-year yield also reaching to year highs. the 2's and 30's inverted, the lowest since 2000. haidi: it is really interesting. we see the window of opportunity opening up for bargain hunters looking for more risk. we have not seen them show up so far, but the stronger lead somewhat from the u.s. se

so the u.s. policy is truly bizarre and very difficult to understand, not least of the desperate attempt to become friends with iran, a country that is a state sponsor of terror, and i just want to remind, you know, your audience that salman rushdie is a great personal friend of mine who was attacked, and someone tried to kill him, and that person is an activist and a big follower of the spring leader in iran, and i find it very difficult that that happened without the knowledge of iran and its proxies. and this is an attack on u.s. soil, by the way. michael: can i ask you, just to connect off a little bit more explicitly, the two threads that you started to unravel, the thread about china and saudi arabia, then threat about the united states and iran. i certainly think that those two things are related, but let's -- and i think you probably think the same as i do, but let me hear you explain the connections between the two. prof. haykel: so, you know, the view that came to dominate during the ob

the u.s. suggesting there is a slow down in demand for goods, yet in terms of the jobs market, further evidence. we are looking forward to the university of michigan sentiment and we know jay powell will be watching that closely. here, the retail space came in softer than expected and that weighed on the pound. the u.k. and the ftse 100 down 0.5%. basic resources under pressure even as we get better than expected economic data out of china. we have a slump in the property market for them continuing to push pressure a crossing -- putting pressure that we look at what happens in the yield space as well because those continue to drive higher in the u.s. 390 now on your two year closing. we get that in the weeks ahead and we start to price in a higher terminal rate. the futures point further to lowe's down 0.7%. the nasdaq closing at almost 0.2%. the pound further down today, marking on the date for sterling. we got some great reporting on what happened in the past and between now. brent at $91 a

the u.s. senate has ratified an amendment to an international treaty that seeks to phase out the use of hydro-fluorocarbons, or hfc's, chemicals commonly used in refrigerators and air conditioners that contribute to the climate emergency. hfc's emerged as a popular substitute to fluorocarbons, which are largely banned under the montreal protocol, a 1987 treaty to end the use of chemicals that deplete the earth's protective ozone layer. but hfc's are extremely potent greenhouse gases, trapping heat in the atmosphere about a thousand times more effectively than carbon dioxide. on thursday, 69 senators voted to amend the montreal protocol to phase out the use of hfc's. senate democratic majority leader chuck schumer celebrated the move. >> experts say phasing out our use of hfc's will help prevent up to half a degree celsius of warming by the end of the century. ratifying the amendment, along with passing the inflation reduction act, is the strongest 1-2 punch against climate change in it congres

u.s. officials ordered them to cease importing types of chips used in ai to china. amd telling clients the policy shift will likely not have a material impact to business. nvidia could lose $400 million of sales in china in the quarter. that has contributed to the weakness in futures and particularly to the nasdaq which is down the most of the major averages stocks down 4% or 5% the other thing to contribute to negativity in the futures is tradeo overseas. we saw hong kong down 2% nikkei down 5% shanghai down 0.5% with latest lockdown in china coming in a moment australia down 2% and this comes after a negative month of august for china. let's look at european trade which opened briefly, but hasn't got better during the course of the first few hours of trade we see europe down over 1% close to 1.5% now. 1.4% for all three of the biggest markets. that comes off a bad month for august stoxx 600 down 5.3%. time now for the top corporate stories and silvana henao joins us now good morning >> v

in an interview with u.s. broadcaster cbs, the u.s.nt voiced to defend taiwan of china invaded. >> what u.s. forces defend the island? >> yes, if in fact there was an unprecedented attack. >> to be clear, u.s. forces, u.s. men and women, we defend taiwan in the event of a chinese invasion? >> yes. >> washington has struck a delicate diplomatic balance with both beijing and taiwan since 1979, when it formally recognized beijing as a sole representative of china. recently, relations between the u.s. and china have been tested. in particular by a visit to taiwan in august by nancy pelosi, the speaker of the u.s. house of representatives. beijing has now reacted angrily to bidens comments. >> the remarks from the u.s. side seriously violate the one china principle and they seriously violate the important commitment not to support taiwan independence. and that they send the wrong signal to separatist forces of taiwanese independence. china says it reserves the right to take all necessary measures in response to activities that split the nat

u.s. stocks droplet, bond yields a store and better economic data. the fed will stay hawkish. paul: saudi arabia cuts us -- oil prices to asia as covid restrictions to china and call energy demand. shery: we look ahead to the australia economic growth numbers with gdp expected to show robust expansion. u.s. futures lagging a bit of clear direction but we are seeing red on the board after the s&p 500 fell. it did stay above 3900. that is very important because it tells you where short-term direction could go. we are very close to that over sole territory in the 14 hour day, near the 30 day level for the s&p 500. we have concerns of a more hawkish fed which is why treasury yields sort across the curve. we are talking about a 10 year yield at the 3.3% levels. somewhat yields at the highest levels we have not seen since when he 14. we had u.s. service members, showing expansion at the fastest pace in four months. you can imagine why investors were thinking maybe we will see a hawkish fed. we a

the u.s. dollar is your best friend at this point which i guess makes everything worse? we heard how this could actually squeeze corporate profits as well. >> that is right and it is also as you said in the beginning, it is putting global central banks in the quarter as well. we are saying what is happening. they have to be in this match game here. they need to protect their currencies to some degree and fight inflation. they need to not get behind the fed, stop capital outflows. they need to protect growth and that is an increasingly difficult thing to do. we saw the first country that would break would be an emerging market when we saw a fiscal policy that was geared to protect growth. i am surprised and many was surprised it was the u.k., and evolved market that broke ranks with their central bank. i think it is a harbinger of what is to come. people expected from -- expect from dm, not emerging markets. it is oftentimes populist governments that can hold on here. haidi: when it comes to th

but to the first question, the u.s., the u.s. doubling down on the need for a digital i asset that holds our values and exports those values, whether it's a stable coin or cbdc, i think is important. >> the gentleman's time has expired. the gentleman from texas is recognized for five minutes. >> thank you, mr. chairman. being from texas, when i hear about payment systems funding illegal activities my mind, you know where it goes. it goes to the southern border this year alone we have seen the numbers, expecting to see over two million people illegally come into this country. pretty unbelievable. this massive influx of people has created a booming industry for drug cartels and human trafficking organizations. it's amazing how much the criminal enterprise have grown in the last few years. in 2018 there was $500 million in illicit revenues along the border. this year that's grown to $13 billion. i've been to the border. been going to the border many, many years. witnessed firsthand how chaotic the situation is for the brave men and

as u.s. attorney, trump justice department kept demanding i use my office to aid them, politically. i kept declining in ways just tactful enough to keep me from being fired. i walk this tightrope for two and a half years. eventually, the rope snapped >> that's how it starts, that's the very beginning. this was written by jeffrey berman who ran sdny, attorney in the southern district of new york for more than half of trump's time in office. geoffrey berman was fired from that job, fired loudly, and in a way that made a difference we will have more on that in a second, that's important. now, since he is the former u.s. attorney, he has written this book, to put it in the public for occurred, how trump and his administration try to force federal prosecutors to go after trump's political enemies, to go after democrats, to help trump's allies, regardless of the law, of regardless of the crimes committed or lack thereof geoffrey berman says one of the things he was told to do as u.s. attorney was p

the u.s. peacekeeping budget. i have to, ask what does the united states receive in return for this investment in the united states tax dollars. as a member of this body, we must ensure that the funds that the u.s. grants to the un are used in a way that ultimately benefit the american taxpayer. this was certainly not the case when the world health organization acadie statements given to them by the chinese communist parties at the start of the pandemic. ranking member mccall's covid-19 origins report was it was noted that from the beginning stages of the covid-19 outbreak, the two, under the leadership of director general t joes repeatedly upheld ccp statements as truths and examination of public statements include praise of the cdc's handling of the pandemic, receives reveals a disturbing willingness to ignore signs and really and credible sources. while we do not know everything that happened under the threat of the covid-19 first appeared, we do know that the director general actively enga

in the absence of u.s. leadership, the prc and others have been more assertive there, sticking to shape the debate on issues like artificial intelligence in ways that are hostile to democratic norms. we see the p.r.c. and russia attempting to chip away at human rights. our bureau is working hard to counter this trend. we advance our u.s. priorities at our sessions. we succeeded in passing appropriate resolutions to renew mandates on syria, belarus, iran, and north korea growing the most recent u.n. hrc session, we led a robust joint statement criticizing the open ended mandate up anti-israel commission of inquiry. we cap the space up on -- could kept the pressure on china, and expanded the inclusion of vulnerable groups, we supported the urgent focus on women and girls in afghanistan. turning to food security, it is estimated that russia's unprovoked war on ukraine may drive 40 million or more additional people worldwide into extreme poverty and food insecurity this year. you may have noted that secretary b

the u.s., u.k., france, china, and russia agreed to take steps to end the arms race and to negotiate to stand down and pursue disarmament. it also allows for the peaceful use of nuclear energy under safeguards and that was a big issue at this conference. that is why there was severe disagreement over who controls ukraine's nuclear power plant. a large number of countries wanted the conference to recognize that it is competent ukrainian authorities who should be able to control the plant. at the very last hour, the russian delegation objected which meant that the whole meeting collapsed. they could not agree by consensus to the 35 page document. the purpose of these meetings is to reflect on what happens over the last five years. they take place every five years. to try to assess where things are to respect -- in respect to the obligations and to set out steps to advance the goals, like disarmament and nuclear nonproliferation. there was disagreement in those areas but no other countries were willing

we got u.s. futures, and the jobs report still ahead of us into the early afternoon here being time -- european time. let's keep an eye on some of those oil numbers. the euro stronger, and the dollar has been really strong, record highs on the dollar index in yesterday session. today we take a bit of a breather, and again -- bureau up by .3%. this bear market that we are now and that the -- the first time in a generation. today we see the australian tenure, the italian 30 years of some of those yields coming lower. what's going on with energy prices in europe, what is expected to happen with the nordstrom pipeline. according to some of the data was seen, it is going to be active again from saturday. we will see if that comes to pass and at what level do this close resume, gas prices dropping again on that. let's move on to broader, s&p futures, you expect on jobs day. this is where we are on the u.s. tenure yield, still very much inverted there. -- 10-year yield, still very much inverted there. t

competitiveness, u.s. jobs, u.s. economic interests. that gives us the ability to actually look in a specific way, not just a general way, at whether there is a credible case to be made and take action associated with that. that is a principal way that we are approaching that issue right now. and what we have heard and what i have heard from a number of operating companies is that it is that type of approach that is most useful right now, because there are some unintended consequences and we want to make sure that we have a way of addressing the. -- a way of addressing them. david: the president is probably going to meet with xi jinping at a g20 meeting, if they do me, do you think there's going to be any changes on the economic policy towards china, or not likely to happen in the near future? brian: i think we are more likely to see continuity than a significant shift. in partly because the president has had an ongoing engagement with xi over the course of time. they have spent a lot of time trying to make sure that they clearly unders

we also hope to have support from the u.s. congress. the u.s.gress is sovereign here and they make their own decisions. we have sensitized the congressional leadership in the development committees. we are in touch with them. our committee members are in touch with them so they know the situation is very bad. scores of congressmen and senators have set their messages across to the people of pakistan . they have committed help. similarly, i would say the governors of many states have sent messages. governors, mayors, and police chiefs. they have fidelity for the people of pakistan. we are counting on the united states. we have very strong ties with the united states. pakistan and the u.s. are very strong allies which is very true. we have had a steadfast relationship. and, i think in this dark hour when pakistan is suffering, the u.s. has stepped forward. we hope that it will continue to extend its help longer. >> in addition to our emergency housing and food and medical aid from the u.s., when pakistan welcomed the u.s. military contended to ass

as u.s. attorney general, in february 2019, six months after cohen's guilty plea, he not only tried to kill the ongoing investigations we were engaged in, but incredibly, he suggested that cohen's conviction on campaign finance charges should be reversed. barr summoned my deputy who was overseeing the cohen case, in late february to challenge the basis of cohen's plea as well as the reasoning behind pursuing similar campaign finance charges against other individuals. he was told to cease all investigative work on the campaign finance allegations until main justice determined there was a legal basis for the campaign finance charges to which cohen pled guilty and until barr determined there was a sufficient federal interest in pursuing charges against others. the directive bill barr gave my deputy, which was amplified that same day by a follow-up call from edward o'callaghan, that was explicit. not a single investigative step could be taken, not a single document in our possession could be revi

our view is u.s. inflation probably has peaked and will start to come off for maybe the reasons just discussed. there are some factors that oil prices and particularly at the pump for the u.s. consumer have come down. the real sticky bit of inflation is the labor market and that is where there is some progress that has been bade but a lot more has to be accomplished. one of the indicators we look at is the gap between job openings and the labor force. this labor breach gap and job openings gap. that is coming down. that is the key to a soft landing. if the gap comes down but you don't have a corresponding significant rise in unemployment, that is the path to a soft landing which is what u.s. economists are expecting to the key point to make here is if the market gets happy about an optically that are inflation print and starts to rally, that is going to mean financial conditions ease which means the burden on the fed remains that some -- remains that much more significant to the negative feedback loop

u.s. policy towards africa. they discussed topics including russia and china needs influence, u.s., and africa trade relations and the pandemic response and many others. this runs just over an hour and 20 minutes. >> thank you, thank you all good morning and welcome to a foreign affairs committee. as a part of u.s. leadership on developing and executing. a multilateral approach to africa. thank you to our distinguished panelists my, colleagues for joining us for the discussion today. part of the leadership of joe joe biden, the united states has demonstrated the capacity to lead the international -- and addressing some of the most complex challenges we're facing today. from holding vladimir putin accountable for it is illegal and barbaric invasions of ukraine, to counter china's influence on the end of the pacific and beyond. u.s. leadership on the international stage has proven critical. and galvanizing the support of our partners, and exacting consequences if -- unfortunately, i have yet

u.s.utures falling .6% for the s&p after stocks declined and there was choppy trading in the new york session. for new york, two months lows the lowest since mid july back towards a 3900 level. that is an important threshold. now it is at 100 and underperforming. this as we watch oil prices also down. the department of energy says it plans to restock u.s. emergency oil reserves and will only allow for deliveries past 2023. that sent a little pressure for oil prices. we will watch treasury yields rallying. the inversion of the treasury yield curve continues. haidi: that continues to be in focus. our focus today in australia, the rba government commentary and testimony to parliament. also, we are setting up for a fifth straight week of asian equities going into the friday session. australia looks like a downside of 1%. we are watching gold miners today after gold fell to the lowest since april 2020. the aussie dollar taking a beating as well, a low we have not seen through the depths of the

seeing the u.s. vice president, the indian prime minister modi, and australian prime minister al banese along the rest. abe is assassinated during a campaign speech. ♪ >> i think what we've seen in the reaction to the proposed plan is a real concern. and a fear that it will add uncertainty to the economy. one of the things i spend a lot of time thinking about is how do we create more certainty for consumers? dani: atlanta fed president rafael bostic on the risk posed by the u.k.'s gamble on growth to the u.s. and the wider global economy. we felt the ramifications of a crisis in the u.k. bond market yesterday but i want to focus on what happened in the front end of the curve in the u.k.. we saw a more than 60 basis point rise in the front-end. we are looking at 104 basis point gain in the front-end of the curve. at the start this year, we were below 1% on front-end gilt yields. this is the biggest gain on record across the curve. it was not just contained to the u.k., we saw u.s. bonds hitting multi-

u.s.tocks climbed the most in a month as treasuries hold multiyear highs with oil sinking amid fears in global demand. shery: apple unveils the latest devices including the iphone 14 and the ultra apple watch. u.s. futures opened to a slight upside after the s&p 500 saw the best day in almost one month, 95% of companies on the s&p 500 actually moving higher. of course, energy was the only sector under pressure today, given the plunge in oil prices, the most since january. we are seeing concerns about recession, covid lockdowns in china. that is all affecting prices now. at the nasdaq 100 is outperforming in the new york session. apple gaining almost 1% given the product lineup they unveiled. overall, we are hearing from goldman sachs that we not be -- might not be there yet when it comes to positioning, valuations. we are not at extreme levels yet. looking at the 10 year yield, we had it fall today halting the gains. the price of oil falling lessening inflation expectations. look at this c

i do not think the u.s. you much that there are two separate conflicts in different places and they do not supported either. haidi: three different assessments of risks. in washington, what is the bigger political wind in terms of how it deals with russia and beijing? george: politically, a gallup poll recently showed that 67 percent of americans support war. we have political persistence inside the united states. if you are going to drop out of the war and want to get oil, at this point, we do not get much out of the europeans. so the problem on the russian states is that they do not think the -- the russians are afraid that the americans will be on the eastern border of ukraine. the americans are afraid that the russians invade the western border and start to pull more over again. each has a national interest. the united states has better artillery. shery: george friedman, great to have you with us. the founder and chairman of geopolitical futures on his view of russia and explaining that the war continues

let's look at new u.s. home sales, consumer confidence numbers, u.s. gdp. rounding out the week with university michigan survey and cpi numbers on friday. tony, george, and meghan still with us. it is time for rapid. it is really important at a time when people are not getting there had around. what is the more likely peak in the fed funds rate? 5% or 4%? tony? >> 5%. lisa: george? >> neither. >> 5%. lisa: what you think will over perform? >> u.s. investment grade. >> ig. >> high-yield. lisa: at the end of next year, how big will the fed's balance sheet be? closer to seven try in dollars or closer to where it is right now -- closer to severn trent dollars or where it is now? >> somewhere in the middle. >> $7 million. >> i will take a low income a $7 trillion. lisa: thank you to all of you. from new york, that does it for us. this is "bloomberg." ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a y

we had u.s. natural gas selling off after the strike was averted then they reached a tentative deal between railroads and unions. this we were watching closely because we have seen the supply chain disruptions and how they affected the commodity space. we have had this labor disruption that added to supply chain constraints. this has been affected from everything to production cuts to crop losses to the war in ukraine. haidi: speaking of the war in ukraine, we have this interesting high-profile visit between vladimir putin and xi jinping. vladimir putin saying he understands china's concerns over the war in ukraine. he said we understand your questions and concerns, our two countries could inject stability into a world of chaos. vladimir putin saying he is talking about the balanced position of the chinese friends offering to explain in detail our position in ukraine. we continue to watch that key relationship. this is key for investors as we get into this final session in asia. as you went throu

that is how many u.s. dollars you get hurt euro. a -- that is how many u.s.lars you get per euro. the inflationary impact -- you have inflation in the euro zone above 9% and that makes the challenge more potent for the ecb. the pound is also under pressure. down 0.5%. the former economist of the boe warning investors could turn south on the u.k. on the back of liz truss' plans. brent in focus. opec-plus meeting later today. the switch up to oil as gas flows reduce. will that put pressure on prices? let's get the first word news with juliette saly. >> you ministers discussing special measures to rein in surging energy costs including a suspension of power derivatives trading. an energy minister meeting on friday. russia's failure to reopen the pipeline is bringing renewed urgency to the debate. germany has unveiled a $65 billion package to support consumers. china has extended its lockdown for most of chengdu's 21 million residents with all indoor entertainment venues, schools and restaurants remain enclosed. all of the countries mainland province has recorded

haidi: alex wayne with the latest with the u.s. president vowing u.s.could be sent to defend taiwan in the event of a china attack. coming up next, a return of 2% on average, our next guest is still bullish on them. this is bloomberg. ♪ haidi: time for japan ahead on "daybreak: asia." residents are being urged to evacuate after a typhoon heads for the prefecture. a powerful earthquake strikes in taiwan, plus a newspaper as revealed the approval rating for prime minister kishida's cabinet is at 29%, the lowest level since he took office. interest in sustainable investment in japan as been waning recently with esg industries underperforming. -2% on a month on average this year. a professor at the university focuses on esg and serves as a board member of an esg group. it is fair to point out many outperformed the likes of larger sovereign linked esg funds for example. broadly speaking, how do you assess the appetite for esg investing in the community at the moment? >> i expect a huge appetite for esg investing. the heartbreaking situation in pakistan and d

where we mustn't tie u.s. foreign assistance to positive steps and health, human rights, food security and any other number of themes, beijing only opens its checkbook. so while the ccp might claim that the countries of the middle east should be free from use influence, they are taking every possible means to exert their own influence and control. perhaps this may offer an opportunity as its interest in the region go, title not be able to maintain an image of distant objectivity. deepening engagement with ideologically oppose regional players will eventually drag china into a geopolitical quagmire. secretary leaf, i hope you can address these concerns today, and after some key questions today such as what will it take to win that competition? and what can congress do to support that goal? we want to help, all of us, when it comes to national security we can't afford to spend time playing politics. i believe we are at a crossroads in a relationship with the region. the steps we take now will determine if the ad

equities more than u.s. ones? charles-henry: we need to see a trough in valuation, and also in terms of profit expectations. u.k. equities have been underperformers, they are cheaper than the u.s. this is where the stagflation scenario hits the most, and where fiscal and monetary policy is let's say, the most difficult to assess. for this reason, investors might stay away from u.k. assets for a while. until we get more clarity in terms of policy in the quarters to come. tom: jupiter asset management saying there is opportunity in long-term sovereign bonds, the soft landing will be happening, is that where you want to position? charles-henry: we want to position on the long end of the curve. long duration bonds have been used as a buffer. we don't believe that is the case because the terminal rate for the fed might be higher than 4.5% on the other hand, we like credit. if you look at investment grade 10 year yields, it is higher than the s&p for the first time. credit is one area of fixed income where there are int

the u.s.ond sellout pausing, equity stabilizing, europe not so lucky. german 30 you -- year yield topping 30. we try and find out when to put cash to work. from new york, i am alix steel with my cohost in london, guy johnson. we get this pause but i do not think it is going to take a pot for this selloff to continue. guy: good news is bad news, i think we've got evidence to push that theory along a little bit. have you seen the data? alix: no. oh, my goodness. guy: it is quite strong and going to be hopping up and down. i'm going to -- i am in shock about how solid these numbers are, are these going to further encourage the fed to take more dramatic action then it already has? alix: august home sales of 28%. that is enormous. i have to wonder if part of this is, quickly, let's close with mortgage rates rising or that is a huge number. guy: survey was -2.2. that is a solid number. the richmond fed manufacturing index has come through zero. last time, that was negative eight. the market is looki

u.s. and across europe. david: it gets us into pmi data next week, a better indication of where china is. it really is adding to this paradox of information that investors are looking at. on one side, the fed is leaning on inflation. if you look at the slow down part of the equation, with pmis coming off coming europe as an example of that recently. risk across this friday. australia is reopening today. catch-up trade when it comes to yields. makes a cross currency markets. early on, the philippine central bank governors, 60 minutes back, confirming that they were in the forex markets and he does anticipate they will continue to be active to smooth out some of these moves that we are seeing, some while moves this week. yvonne: quite active is what the governor said. we sought that with the yen intervention. we saw that overnight. the central bank. here is the scorecard this week. these are g10, the fed, the swiss bank well. we exited negative rates for the first time. boj, the lone wolf in