that is todd gillespie who does reports on the investment banks for us at bloomberg news.asak. that does it for "bloomberg markets." it is a short holiday week in the united states. you are watching markets roughly flat as we head into the middle of the week. s&p 500 reacting moderately to chair powell's remarks on the bond market, also with the small bid in the two-year yield. this is bloomberg. ♪ want to save on some of the biggest names in streaming on the network made for streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, food isn't and just fuel to live.stuff. it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks help

us, he was very clear that he is in this to win this. paul: bloomberg managing editor for breaking news derek wallbank joins us for more. derek, what do we know about what was discussed at that meeting? derek: we don't have a massively detailed readout on the exact topics, but the basics of it is what we all would think was discussed at that meeting. democratic governors had been not thrilled with the white house, that they hadn't gotten the outreach they thought they needed to after joe biden's debate performance. and so there has been a lot of disquiet. now you should read into the fact a little bit that a lot of the contenders possibly, if biden were to step aside, our democratic governors. you're talking gavin newsom in california, jb pritzker in illinois, jb pritzker in michigan among them. these are people who are -- gretchen whitmer in michigan among them. these are in critical swing states that biden must win if he wants to be president again. they are also representing the flank of people who could emerge if biden were to step aside. now that being said, in the last day or two, a lot of the talk if biden were to go, and let's be clear, he said flat out he is in

at its disposal for agreements with lenders. bloomberg's news desk editor jill disis joins us for more analysis.the pboc planning to borrow and sell sovereign bonds, and is this plan going to work? joe: i think the entire idea as it comes down to financial stability and really trying to protect the human and the value of the currency, so the plan here is something that they have been telegraphing for a few months now, a kind of began with the free-floating of the xi jingping speech implying they could buy and sell trade bombs on the market as they needed to. what they've done now is sort of secured these financial institutions, that they could then sell to cool this overheated bond market. we'd seen sovereign bond yields fall to record lows. the idea would be to provide stability by putting a floor under that. in terms of whether this actually works, i'm not sure it goes as far as grazing the yields, but i think at the very least, maybe you see some short-term action here that could bring a little bit more stability to the market. that's ultimately the plan here and we will have to see if it wor

news from the studio of philip trofimov. the netherlands and japan are now facing us sanctions, all because of the chinese semiconductor industry, at least according to a bloombergthat two the largest manufacturers of lectographic equipment, the dutch sml and the japanese. electron is believed to continue to service processor manufacturing plants supplied in china before the restrictions introduced in 2022. however, there is an opinion that neither washington, nor the government of the netherlands and japan will take any radical steps, at least until the presidential elections in the united states. it should be noted that the publication of information about sanctions risks coincided with the rather remarkable quarterly report of the acm. the world's leading manufacturer of equipment for the production of microelectronics showed. warned, after the revenue introduced in the fall, about which he himself and the twenty-third year of the next set of bans on exports to china, but the decline turned out to be more modest than forecasts, and even more remarkable is that exactly half of the equipment shipped around the world, at least in money terms, went specifically t

at the end of the week, but because the consumer is in hot focus. from new york, that doesn't farm us. same time, same day next week. this is "bloomberg real yield."is bloomberg. ♪ sonali: welcome to "bloomberg markets." i'm scarlet fu. we are roughly through halfway of today's trading. the s&p 500 and the nasdaq 100. big stocks in the green once again with both indexes resuming their july advances. they are recovering from yesterday's decline. look at the russell 2000. small caps extending the search. traders convinced the fed will cut rates in september after today's decline in consumers inflation expectations and the new michigan report and yesterday's cpi report. they are more than offsetting a hotter wholesale inflation print. looking at dollar-yen. dollar weakness because of the prospect of lower rates. that is the case against most of the g10 currencies. in particular, versus the japanese

is news from the studio philip trofimov: us sanctions now threaten the netherlands and japan, all because of the chinese semiconductor industry, at least that’s what the agency’s source claims bloombergphic manufacturers. equipment from the netherlands sml and the japanese tokio electron are believed to continue to service processor production plants delivered to china before the restrictions introduced in 2022. however, there is an opinion that neither washington nor the governments of the netherlands and japan will take any radical steps, at least until the presidential elections in the united states. it should be noted that the publication of information about sanctions risks coincided with quite a notable quarterly report from acm. the world's leading equipment manufacturer. for the production of microelectronics showed a decrease in revenue, which he himself warned about, after another set of export bans to china was introduced in the fall of twenty-three, but the decrease turned out to be more modest than forecasts, and even more remarkable is that exactly half of the equipment shipped worldwide, at least least in terms of money, she went to china. the fact is that export restr

us from new jersey bloomberg intelligence senior rates strategist. same question. since we have seen such a round-trip when it comes to rates how do you look ata: the market thanks they need an excuse to cut interest rates. when you have a slowing job market that is certainly one of the key indicators. it's not a huge surprise that we have had a bit of a rally on somewhat softer data, particularly the little tick in the unemployment rate even though it was incremental overall. the fact that the front end is rallying so much as a signal. not so much that the fed will necessarily start cutting early, but at the federal reserve might cut more than the market was thinking before. you look throughout the curve with shorter-term interest rates , futures, now the short term entrenchment -- instrumental look at that everybody in -- uses to hedge, you look when you're 18 months out from today does have rallied the most. i think that the signal that nobody really cares in the macro if they cut in september, november, or december. it's where they get to at the end. we are starting to think that maybe instead of cutting 3.5% they will only cut 3%. that s

bloomberg open interest, our new show. sonali basak is one of the hosts of the show and she joins us now. >> so interesting because you have a show focusing on stocks also atime when the bond market is very interesting. howard marks speaking to, looking at at the implied rate is for this year. two cuts only brings you down to about 4.82 as he implied a rate. you are looking at these companies refinancing at still a significantly higher rate than they bought the debt at. the point he is making is there is still stress in the system. banks are reporting at the end of this weekend into next week. another area is private equity backed companies, nonpublic companies, where the stress under the surface is hard to calculate. scarlet: hard to see because it is not visible to most of us. you mentioned banks reporting earnings. this is a big week for that. a big call from mike wilson from morgan stanley who sees a 10% correction as highly likely. >> interesting move here because you have the s&p 500 hovering around where he had been targeting the end of the year but he, like other investors, believe there is volatility heading into the election season. the temper ca

at bnp paribas. there's plenty more coming up. stay with us. this is bloomberg ♪ >> welcome back to bloomberg daybreak europe. two other stories making the newswednesday. u.s. scree secret service director kimberly cheatle has resigned for taking responsible for for security failures where donald trump was shot. donald roe will lead as acting director. lawmakers called for her to step down after security lapses. emmanuel macron will not pick a new prime minister before the end of the olympics and doubled down for a political truce following weeks of turmoil. the left wing alliances preferred has been dismissed by president macron. france's far right has signaled it's reare di to support the far left in macron's pension reforms. a slight miss on fixed income and currency sales and trading revenue at deutsche bank. our interview with the c.f.o. of germany's biggest lender coming up. this is bloomberg. the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the wh

bloomberg's editor for breaking news in south asia. our next guest from the clinton administration and has worked at past democratic national conventions joining usrom los angeles. the founder and ceo of aipac advisors. stephen, thank you for joining us. as derek mentioned, no polling yet in the wake of this assassination attempt but we have some betting odds and we have a chart from predicted showing a huge jump in support for former president trump. we also have the now iconic image of him with his fist clenched and raised. now very difficult for the biden campaign to go on attack. everything is getting rewritten now. but is trump almost impossible to beat at this point? steve: as my former colleague in the clinton administration often says, the only thing predictable in presidential campaigns is that they are unpredictable. we can certainly figure out that what will happen in the next few weeks is that the republicans are better positioned now than they were before this terrible attempt on president trump's life. this murder of at least one of his supporters. what this has done is unify the republican party. going in to the convention about 20

us up-to-date. thank you. private assets in etf's, the big firms are thinking about it. more on the etf industry every monday at noon, new york time. this is bloombergites, "moving is stressful. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪ oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi. easily transfer your services in the xfinity app. bring on the good stuff. announcer: this is balance of power. live from washington dc. >> seismic shift in american politics. we can put numbers on it. kamala harris ties up the race statistically. we are going to dig into the numbers including who voters trust on interest rates and the prices of goods. kaylee: it's not expected the fed will cut today although may be the unexpected is to be just as expected.

at this point, according to the source. joining us now to unpack all of this -- and it is a lot to unpack -- is a congressional correspondent for "bloomberg newsan hall. christian, thanks so much for doing this. appreciate it. it is chaotic to say the least. you've been following president biden closely. look, what are your sources telling you about that call yesterday that was convened by leader jeffries? what are the main takeaways among the mood on the hill among house democrats? >> look, it's very clear that president biden has reached a tension point in his campaign right now, and lawmakers are really nervous about his ability to take on trump in november. i mean, i think a lot of democrats are looking at president donald trump who is just three years younger than president biden, but his physical, you know, appearance when he's speaking to voters, he's known at his rallies to go on for an hour and a half. i mean, they're scripted, but he's often ripping off of a teleprompter. he has a completely different demeanor than president joe biden. at least president joe biden showed in the debate last week. so i think lawmakers are really nervou

new data shows ev charging stations are being built at a rapid pace in the us, and may actually outnumber gas stations in less than ten years, according to bloomberg0 new public fast charging stations popped up in the last three months. that's an increase of 9% this year and estimated $6 billion will be spent on charging infrastructure, and industry analysts predict that number will double by 2030. i'm pam cook. let's look at your dollars and cents. >> pam, thank you so much. 848 now sal is back with us. he's tracking that major issue going on on 680 at mission boulevard, right now. >> andre and gasia, it's a deadly crash involving a big rig and six cars. it really was a horrible sounding accident. and now we have more than ten miles of slow traffic on 680 stretching into pleasanton. this is also affecting vallecitos road and to a certain extent, it's affecting 880, as a lot of people have heard about this and they're driving on 580 and then using 880 to get to the south bay. so this has put stress on the entire commute system here. and again, since it is a deadly crash, the coroner has to arrive, do an investigation. this is not going away any ti

us today. let's get back to that breaking news from a moment to go. take a look at shares of chip equipment makers and japan. slipping a little following that bloombergntion. we are told the biden administration is weighing tougher rules for overseas firms seen as enabling china's semiconductor industry. annabelle droulers joins us now with the details. exports have already been restricted so what is the focus now? annabelle: the focus could end up being on any and all equipment from major chipmaking or chip equipment providers. as you say, those restrictions are already in place. at the end of last year, we saw major players like tokyo electron -- you see that big slump. asml in the netherlands as well. restricted from selling their most advanced technology to china. what hasn't happened is the servicing or the maintenance. the likes of tokyo electron, asml have continued to maintain the equipment that chinese companies already owned. the importance of that can't be understated. if you don't service chip equipment, then it can actually start working within a few months. definitely within a year. that's an issue for the u.s.. if you've got those comp

at about $4.1 billion, $24 a share. this is bloomberg technology. ♪ ed: it is time for talking tax. bridgewater turns to machine learning. they are set to debut a new fund that will useasis of its decision-making. the fund will debut with $2 billion of capital starting today and will utilize models from openai and perplexity among others. japan's h3 rocket takes light again. the japan aerospace exploration agency saw a successful launch which carried a satellite toward low earth orbit. it is their second launch with no crew on board. the flight comes after numerous blunders and delays for the agency, including an explosion of its smaller epsilon rocket in 2022. amazon calls for an ai start up. they have hired employees in a move that bolsters a development of advanced ai that can think like a human. amazon will use the depth tack to develop a product that helps automate software workflows. caroline: very interesting. let's go to france because following a months long battle over the future of the i.t. firm atos, once hailed as the rising star of the tech industry in the company, creditors are set to take control of the company. you look at the company from a stress d

us. from new york city and san francisco with an ugly looking stock chart, this is bloomberg technology. ♪ honestly, i don't do a whole lot here. i'm really just here for the aternet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book ti

at bloomberg have some new reporting about trump's change regarding crypto regulation. i mean, it's notable, right? because he's, he's clearly running with this now, but tell us about that change yeah. >> so this is something that we've seen happen over the course of a couple of years really, you know, back in his first administration, he was not a fan by any means. and over the course of just getting to know more crypto industry executives, it seems like he's really like into the idea of crypto and ensuring that the industry doesn't have as many regulations. just over this last weekend, he vowed to fire sec chair gary gensler to ensure that there are more or less regulations in place. and so this is something that we've seen happen over the course of time partially because he likes designing nfts is what we've learned forgive me for imagining that this might not be policy and might be more politics. i mean, does he sense that there is a way to juice his support with a particular category of, of tech bro kind of voters here is that, is that what he's looking to do? >> certainly the campaign has even told us that this is a prime group to get votes and donation

us from bloomberg news. eurasia thinks a 25% probability for biden to drop out is being generous at this stage.l this weekend or this interview be in terms of making that decision for biden? jordan: i think it is huge. the american people want to see whether joe biden still has what it takes to be commander in chief, not just until the end of this year but another where years. so far biden's reassurances have mostly come behind closed doors, so this interview is a chance for him to speak directly to the public without notes. this is an interview -- he has to speak off-the-cuff and really reassure people he is up to the task. it is huge. he also has there's battleground state stops in wisconsin and also sunday in pennsylvania that is the chance for him to get out in front of those voters who will make the decision in november. manus: the political narrative is kamala harris, the vice president, is the obvious person to go to. she is the right person to do this, because this is a politically poisoned chalice, and why would any potential suitor names out there want this? jordan: right. you look at

us alexander. season two of alexander's "breaking bread" premieres today at 1:30 p.m. eastern on bloomberg originals. and pbs' "the open mind." newsodes airing on thursday for the next several weeks. thank you so much for your time. guest: thank you. host: that is it for today's washington journal. we appreciate all of our guests and callers. we will be back tomorrow with another episode and until then enjoy your fourth of july holiday. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2024] about one hour and 20 minutes.

us history, at 1:46 p.m. president biden said he would not run for a new presidential term. goodbye joe biden, this is the end of such headlines today around the world, with this comes bloombergth and twentieth years, biden makes the final and irrevocable decision to withdraw from the fight for the oval office in order to save face. the new york times writes, that for supporters of the current president. the news came as a real blow. biden's decision to withdraw from the race puts an end to the election race less than 4 months before the election. party chairs in swing states issued a joint letter reaffirming their support for joe biden, but the president's top brass were informed that he would end his campaign just minutes before biden announced his withdrawal on network x out of the race. fox news channel journalist peter dussey whom joe called the son of a bitch on air, believes that the main reason is the incompetence of the first person of the state. it appears that two of his closest advisers, who have been by his side since his days in the senate, had an evening... online meeting because the president is still testing positive for covid. they explained to him that ever

us. coming up with the european commission vice president about the escalating tensions between the block and china. that is next, and this is bloomberg. bloomberg. ♪ at morgan stanley, old school hard work meets bold newhinking. to help you see untapped possibilities and relentlessly work with you to make them real. francine: it is the countdown to the market open as we bring you the first trades. francine: welcome back. now, like everyone else president zelenskyy is preparing for united states where donald trump might be president again. in an excuse -- in an exclusive interview he said he would like to understand how donald trump rings ukraine should win the world. pres. zelenskyy: so let us imagine that might be trump. in november. and he knows how to end the war, he has that plan. me, as the president of a country at war, not theoretical, but a realized president, i would be -- i would like to be prepared. we are a big country and we really depend on the aid from the world. and we depend on the aid in the position and the stance of the west. so i would like to understand what would it mean for him to finish the war fast. tomorrow do we want the war to be over tomorrow? we did not start it, it was