the other issue and that one should look at is, i mean, we've seen it in the united bank of america that even in advance economies, that can be the issue of electoral roles. and so i believe it will be more investigated. generally, it will be interesting to check with the international observers that are observing the election process in germany in order to make sure that actually, you know, there's no fiddling of going on. typically when things are so finally balance, that means the small batch of both in the right place could potentially make a big difference. also in the barriers, permutations of collision, potential, clinician government. and so that is another aspect one should look at. and i suppose we should awesome. it actually monitors what they will they present and whether things done properly or not. it is such a close. you mentioned as it stands nice such a close result. and it's interesting who do you think the wind is here? because you've got oh la shows, claiming everyone claiming that one well of celsius saying, yeah, we've got the most folks we're the win is on the last

brings up the idea of a free trade deal with britain buy and does that weird thing where a bank going about the north america border and they were very keen to try and show how united they are ahead of the 26 climate summit in law's going to come november, you made a commitment on supporting the the world to adaptive to climate change, doubling the american commitment that is very important for our school. so everything else is just the diplomatic share reports in january, suggested the u. s. toll britain to get a grip on how it was planning the conference, essentially washington selling britain to plan its own party. so the special relationship is in the kind of place now where every now again, washington throws it in britain's way to keep whole thing. though boys finally got an invite to the white house off the 2 years. down close they. of course they have the job at the bottom, the orchestra in the military alliance of austria. because while trade deal, the hard military deals to a penny with a lot the most telling my, with this one, he's want how staff ending the news conference was for. it was still literally in the middle of a sentence that's. that's the boy

united states of america. in a way that is what they're trying to hold on to, is the flow of payments through the u.s. bankingand, look, they just don't understand, blockchain is actually on chain activity. you can follow all the moves. that is how the colonial pipeline ransomware attack was solved quickly. you could follow the moves on a blockchain. there are some false narratives out there. and i used to think it was only because people didn't really understand the space but i've been alarmed by gary gensler at the sec who clearly does understand the space but seems to go along with the dominant narratives from the administration. charles: it is hard to watch one of his mit lectures and look at the person we're hearing from today. you recently wrote an article, by the way you're a fantastic writer, prolific, i appreciate it, on tether and saying it should be treated like a currency, or security. is it the standard-bearer now for crypto, not bitcoin? >> definitely not. i mean bitcoin is the standard-bearer for the space. and, at the time they are highlights -- tether highlights the problem. inappropriate ter

and bank of america with time and power has had its highs and lows and certainly plenty of challenges from cove it to being spied on by the united states or europe correspondent peter oliver digs up some more after almost 16 years in charge, the time has come for angle, merkel to step down as german chancellor, drawing the curtain on a political korea of over 3 decades. coming to office in 2005. she's the 3rd longest serving german chancellor of old time, only her mentor helmet. cole held the position longer in postwar, germany, anglo myrtle have achieved something that most politicians haven't at the time of leaving office. she has remained popular with a large chunk of the voters. no small achievement. when you look at the challenges she's had to face me, germany weathered the financial storm that began with the collapse of layman brothers back in 2008 better than most countries. a 480000000000 euro bailout for the banks and managing to keep on employment figures from spiking to high saw the local reelected in 2009. but then came the collapse of grease and the fee is it could never pay any of it. to lawful debts that pushed th

themselves of as much responsibility and public eyes as possible. britain isn't alone either in questioning future lines on the united states because top officials also say that they can't bank on america's military muscle and the brock should develop its own defense capabilities. as many times has shown deficiencies. you know, like 2 days you could, tommy, comes with a price. we need to increase the capacity to be able to act autonomously when and where necessary, and not to be dependent on the charges made by others. even if this others are our friends and allies, one idea is emerging strongly. you needs its own only. it's not new, but what many now feel if the u. s. unreliable partner and this is one idea, gaining traction me to the home. i was going the us, this is tired and doesn't want to be the guardian of the world day anymore. the last for the year war enough goes done. there's a life. the americans lied to the people side and the european unanimous improve your defense as a feeler. inside nature, finally, we have to know the limits or capacities and very carefully analyze the you possibilities, though with voice is only echoed what some you need is being saying. now there is a

bank of america on this. talk about the risk, the potential that could come six months sooner if we get a cold winter in the uniteds. tom: i think it's important. 30 people guessing on whatever the topic is, there is a tendency and when people who are typically in a center tendency moved to an outlier, that gets our attention. jonathan: everyone is woolwich. the next year, q2, the south. is pretty bullish tom: what is the terminal function? jonathan: dpsc. when you look at the south side, they are pretty bullish. when you look at the median forecast, they are still below where we are now so we haven't seen the capitulation on that call. out of china, two point 5% retail sales in china, a huge downside to price and we were looking for seven. the median estimate was seven for retail sales for china and we got to .5. tom: we heard that earlier but joining us now to brief us on nfl football, damien joins us from bloomberg intelligence. here is how it works. indonesia, 6.5% yield over 10 years. it sounds like a free lunch. dovetail that into what we are observing in china. >> that has gone up significantly because you

united states and s&p earnings, should we put it aside. a third of chinese economic output is in the real estate industries bank of america said a 90 basis cut will equal a 3% decline in the s&p 500. seems like something to be factored in. >> i think it is something that everyone is cognizant of but are willing to look at other ends of the market the velocity of the move shows you, and it was important steve pointed out the closures as well it gives you a little bit of an idea of what type of markets we are in right you no. i have not seen the volatility index move like that in a while and i certainly have not seen the velocity of the markets moving the way they have it just shows you what investors are looking for. i don't know what it might be, but i think there are a lot of storylines out there we are constantly looking at and looking for quite honestly storyline after storyline we move to the fed. another storyline. we will start with another one very soon. obviously it just continues to be this baton toss going on and on and on. but i will tell you, i am just amazed, mel. one day i am looking at volatility days ago trading near 29, and

banks, the red cross and all the other agencies. they need clothes. this isn't some other country. this is the united states of america.is the state of new york. people need help. do what you can. bring money, food and resources. >> we want to give you a live look at the situation in philadelphia. on vine street express way, which is still flooded today two days after ida hammered the east coast. the death toll is still rising. we're getting close to the number 50 people that lost their lives. there's still six people unaccounted for in the state of new jersey at last check. you can see here, a lot of people that lost their businesses said that they were struggling before this happened and now they don't know if they can recover at all. neil? >> neil: thanks for that, laura. we should also now tell you that whatever you make of this storms, it is providing catalysts to get that infrastructure package through. i'm talking about the bipartisan one that has republican backing. you heard from senator bill cassidy. let's go to chad pergram on capitol hill. >> democrats are using the storm to justify their push for the infra

united states. from london i am guy johnson. alix steel joins me. welcome to "bloomberg markets americas." we are about to get jobs and the bank of canada. taylor: it is hard to find a safe haven in these markets. bonds catching the bid. yields falling after a big movement upward yesterday and coinbase, we will chat this later, interesting comments coming out about the sec. coinbase said they were getting fighting words between the cryptocurrency spaces. guy: we are getting details and we will come back to that story. i think it is a fascinating story. that is where the action is. details from the bank of canada. little short against the dollar into this but making a few gains. dollar dipping back against the canadian dollar. unsurprisingly the bank of canada keeping the benchmark overnight rate. nobody was expecting any change. it is the commentary on what comes next. people are going to be looking for that. we bring you the details as we get it. bank of canada maintaining its weekly bond purchases at 2 billion canadian dollars. we are seeing reaction but not much. what about the jobs number? taylor: really interesting. you want to thin

united states take a look at that. when these banks start to see that spread compress, they tend to go lower in stock price citigroup shares down 5% right now. bank of american 4%. jpmorgan chase down 3.5% regional banks like key corp. down 5% as well. those interest rate differentials are huge with regard to the banks. keep an eye on that trade, the second worst performing sector, financials and s&p 500 look at the big technology stocks apple is down 2.5% microsoft, 2.5%, amazon, alphabet, facebook, all making up a large part of the u.s. market one place to keep an eye on, utility stocks they've been wavering between gains and losses every so slightly you can see just about flat on the session right now. the utilities trade has been an underperformer over the last couple of months it did catch a little bit of a relative bid today compared to other parts of the market, but even then, kelly, that utilities etf currently is on an eight-day losing streak. we will see if it can break it today. back to you. >> yeah. again, defensive sectors holding up except that one there are so many other stories going on in the energy and utility space. dom, we appreciate it.

unit has reached an agreement with you on bondholders -- you -- yuan bondholders. the biggest u.s. banks are prepared for fallout from the crisis. citi says it has no direct lending exposure. j.p. morgan and bank of americahave no such links. disney shares saw their biggest drop since may. the delta variant has been blamed for reduction delays. -- production delays. draftkings has offered to acquire a u.k. gambling firm in a deal worth more than $22 billion. an acquisition would dramatically expand draftkings' emerging gambling empire. that is your bloomberg business flash. annmarie: thanks so much. coming up, energy prices surging in europe and the world. we are going to be speaking to the managing director of the nigerian national petroleum company. ♪ annmarie: welcome back to the open, less than 20 minutes away from the open with futures pointing to an open stronger by 0.8%. the gas tech convention agenda will be dominated by global prices and the transition to net zero and the use of hydrogen. let's get over to manus cranny, joined by a guest. manus: good morning to you. it is great to see you to get your opinion. you told me, don't get excited about an ipo that is years away. what is top of your age