jonathan ferro, lisa abramowicz, and tom keene on this september 11. we welcome you all of you worldwide on bloomberg radio and bloomberg television. we've been doing this for 19 years. each year is different. vice president pence will travel here to the memorial site, maybe with vice president biden in attendance as well come on his way to pennsylvania. it is a most different september 11. jonathan: 8:46 eastern is the first moment of silence as we observe united airlines flight 11 striking the north tower 19 years ago. tom: there are all sorts of remembrances, but no one on this team but lisa abramowicz understands this.

surveillance" with tom keene, jonathan ferro, and lisa abramowicz. from new york and london, for our audience worldwide, good morning, good morning. this is "bloomberg surveillance, live" -- this is "bloomberg surveillance," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro.

everyone.morning, jonathan ferro, lisa abramowicz, and tom keene. a postdebate "bloomberg surveillance." we welcome all of you on bloomberg television, bloomberg radio across this nation after an extra ordinary evening observed by all last night. we have good analysis through forward in the view towards october 15 and the second debate. i know we are going to try to focus on where we are in economics, finance, investment and that. i've just got to go to your observation of seeing the debate from london. was london engaged in that of a last night -- in the debate last night? jonathan: it was the talk of breakfast this morning, i can tell you. i was watching it on my phone and the waitress came over and discussed what she thought as well. i think many were surprised come about at the same time, what else did you expect when you were going to put these two people in the same room on the same stage?

surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: from new york and london for our audience worldwide, good morning, good morning. this is "bloomberg surveillance, " live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. calm afterle bit of the nasdaq storm. tom: it's not risk on. you don't have higher bond yields helping out, really signifying the enthusiasm, but i like the idea of calm, and maybe stability as well. nasdaq 100 down 11%. yes, that is a correction. the dow down only 5% or 6%. that is not a correction. jonathan: correction emits massive rally -- correction amidst a massive rally. tom: i will get you something from tiffany. jonathan: i look forward to that. data coming later. lisa: i am very curious to see

surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: alongside lisa abramowicz and tom keene, i am jonathan ferro. 24 hours away from a decision and i have to say the equity market hunting back big time in the last couple of days. to china.ld go china is doing better than good. we get a nice lift. to your point, i cannot remember a fed meeting where i have been more distracted by other news. jonathan: because the other news matters more. at the moment, the federal reserve is basically done when it comes to the framework shift. we have seen that. when it comes to the balance sheet, we have seen a huge expansion. butink there will be tweaks for many people, the most important catalyst is physical. tom: it is physical based on

alongside tom keene and lisa abramowicz, i'm jonathan ferro. tom: jon, get out of the sand trap, or whatever he said last night. just absolutely extraordinary. we have been talking about it all morning. i would think the worldwide audience must be. just extraordinary. can we also note there is a job economy coming up, and maybe the next debate they can talk about where this unemployment factor is maybe going? jonathan: and maybe the c-suite is still very strategic about when they drop bad news. the walt disney company talking about dropping 28,000 jobs a few hours before debate. tom: well said. jonathan: it is amazing for me to wake up this morning, to watch back at that debate and hear the former vice president call a sitting president a racist, and it doesn't even register. it is not even a headline this morning. that speaks to where we are at currently in the political discourse in washington, d.c. tom: some of the discussions on the white super missy issue last night are beneath the fold because of the turmoil, the emotion, the rage and the

alongside tom keene and lisa abramowicz, i'm jonathan ferro. it is fight night in cleveland, ohio. the debate in about 14 hours' time. quite the spectacle lined up. 1960you go right back to when this world changed with tv and radio, and what we saw with kennedy/nixon. i don't know if we will see element of that, but you will see way over the 80 million four years ago for clinton and trump. the interest is ginormous. jonathan: it is a spectacle. it is golden tv. does it have consequences? that is the question. monmouth university come out with a pole that said just 3% they are very likely to hear something that will impact their eventual vote choice. we will all be watching. will it have consequences? tom: let to get the theater out of the way right now. this is very important. this is case western reserve university, one of our great science and engineering institutions, and the richest , secretary 1800s hayes to roosevelt. this is the history of dow chemical as well. and in the 20th century, it is a city that has been flat on its back for a de

lisa abramowicz -- there is vice president biden. for those of you on radio, the images are quite poignant. lisa abramowicz, for those on radio and tv, it is a lot harder to do this this year because of all of the masks. lisa: especially when you look at the concept of mourning. the concept of resilience has to do with coming together and being face-to-face, and that has been shattered by the pandemic. the images raise a question about the recovery. michael feroli, i wonder what we are seeing with respect to the recovery of the labor market. i do not think we made enough of yesterday's employment figures. they came in higher-than-expected with the number of individuals receiving unemployment benefits increasing week over week. michael, is this a significant data point that marks a turning, a souring of the labor market that had been recovering at a fast speed? that is a fairk response. one problem is the jobless benefit numbers have been a bit skewed in recent months by issues with processing and filings, and a lot of those continuin

. >> this is "bloomberg keene,lance," with tom jonathan ferro, and lisa abramowicz. morning, everyone. lisa abramowicz, jonathan ferro, and tom keene, truly an historic day for the federal reserve system. it is a meeting of mystery. our michael mckee will be there for the press conference, special coverage this afternoon. but right now, a great conversation on some of the challenges that we are going to see. jon ferro, to me, the major challenge, with futures up 17, you mentioned this earlier, this morning, is the two americans that are out there, that two americans that are out there right now, jon ferro, are nothing like what john edwards ever thought he would see. jonathan: just compare and contrast, tom, take the airlines on one hand -- you can take any sector, the retail sector, and compare it to fintech right now. big tech on fire. other companies, tom, literally slashing in tens of thousands, and a central bank that has to set policy for both economies. that is a tremendously difficult position to be in as a central bank right now, and that will create distort

alongside tom keene and lisa abramowicz, i'm jonathan ferro. 500, inchese s&p away from correction territory and a couple away from turning negative for 2020. is ato me, that correction. what is interesting is it is really settle this morning. i've got to go right to the deepest market exchange. the dollar strength is really resilient. jonathan: the treasury marketjonathan: not doing what the treasury market would typically do in an equity downdraft. so many people have come on this show talking about it. there it is, the 10 year yield doing nothing. your yield, 0.67%. you could clip that, repeat it, and it would have been true for the last five days. tom: when you intrude into market spaces, markets don't give you signals. i've been surprised by it. the completeness of the bond market and this lethargy has been extraordinary. it is where the bond market gives up giving signals. jonathan: the data 90 minutes away in america. lisa: we get a sense of how much momentum is flowing down in the u.s.. we get the latest reading on initial jobless claim

surveillance with tom keene, jonathan ferro and lisa abramowicz. on: good morning, everyone radio and television, worldwide across this nation, the beginning of the new year for business. the tuesday after labor day marks a new beginning for wall street. abramowicz,d lisa what a beginning we marked with new volatility. touching new lows moments ago on nasdaq features. jonathan: nasdaq features down more than 1020%. we are still up on the year by more than 30%. some of these companies are performing well for a good reason. they have done fantastic through 2020. really strong transformational forces accelerated by the pandemic. it is about the price of the story, what price are you willing to pay. am: what an odd market to see 10 year yield in three basis

alongside tom keene and lisa abramowicz, i'm jonathan ferro. counting you down to the opening bell, with equity futures up four, positive 0.1%. tom: a little bit of calm. , isaw the abrupt reversal would time it at 2:47 p.m., particularly for tech and tech advances. desperatelys a calm looking for news flow on the pandemic, and let's not forget the lack of stimulus in washington is just stunning. it is almost hard to believe we are here in the middle of september. comparehink we have to the selloff. the character was different. this wasn't about big tech. industrials,als, materials, energy. that's where the price action was over the last one he four hours. tom: we are focused on prime minister johnson. comments soon, and then a speech tonight to you and the nation at 8:00 p.m. i've got to go to the pub closing at 10:00 p.m. can you expend the difference between a pub closing and someone getting the virus at 9:00 p.m. versus the usual midnight? [laughter] jonathan: no i cannot, and the prime minister will have to explain that. i am not sure he w

alongside tom keene and lisa abramowicz, i'm jonathan ferro. with equity futures positive 0.8% on the s&p 500, the countdown to the open starts right now. we begin with the city of new york. we have to say, 19 years on, they are very few events in life like this one, where every single person you meet knows exactly where they were when it happened. family, friends, strangers. if they are old enough, if you ask them, they know where they were that day. 9/11 is one of those rare moments, perhaps one of the only moments like it. tom: in washington, was a plane ascending -- with a plane ascending out of reagan, a flag unfurled along the west wall of the pentagon. thee will be ceremonies at pentagon at the pentagon at 7:30 this morning. as you say, we moved to new york city. what a decidedly different 19th year of remembrance this is. with this pandemic, it will be a very different set of images this morning. jonathan: we will observe those moments of silence through the next several hours here on bloomberg tv and on bloomberg radio. lisa, give us t

it is a happy birthday for lisa abramowicz. lisa: thank you. another pound is too strong to expect a gift from you. jon: i will do my best. .isa: a pair of socks great depending on what this consumer sentiment survey is coming up at 10:00 shows -- thank you. i practice to that. tom, you will be siding whether you have the sentiment to buy me a gift. whethereresting to see it is shifting as he gets more air pads and air pods for his dog. we will be hearing from jim and neil. tom: do you buy this quadruple reaching stuff? lisa: let's just say quadruple switching is when the expiry of options and futures in four of the major stock categories all expire at the same time. there is a lot of volume and a lot of people are focused on this because of how elevated options trading has gotten particularly into big tech. tom: do you buy this stuff? jon: do you think we give her a break on her birthday? lisa: don't give me a break on my birthday. birthday"ings "happy when we have a "surveillance" birthday. seeing us a little tune. jon: can you say the ? serg

alongside tom keene and lisa abramowicz, i'm jonathan ferro. one hour and 12 minutes from the opening bell in new york this friday morning, already a nosing one -- already a noisy one. we are off by 12 points on. the s&p in the fx market -- on the s&p. euro-dollarrket, $1.1635. u.s. treasury not doing a lot, not participating in the volatility you see in the equity market. tom: the improvement in the real yield as well. we always mention the real yield on fridays, but jon, moving from a -1.02%, now out a full 10 basis points, what does that mean? jonathan: a subtle shift in inflation expectations lower, and that is something we've got to keep an eye on in the coming weeks. going to be really interesting to see how the market more broadly positions around that story. if inflation expectations come in and real yields become less negative, how do we price off of that and things like growth stocks? tom: we are going to do it in 15 minutes with our interview of the day on economics. right now on our politics, it is good to go abroad to get a differe

lisa abramowicz, jonat

i'm lisa abramowicz. tom keene, jonathan ferro off today, both playing hooky as we get ready for the long labor day weekend in the united states. i'm lucky, though. paul sweeney, my former cohost on bloomberg radio, joining us today. it is so telling that we are showing an image of washington, d.c. because it was too cloudy in new york city, and perhaps that is a metaphor right now. very cloudy in new york city for the future for a lot of things. very much the focus on washington, d.c. as people wait for some signs of fiscal support , as people wait for some signs of just how contested this election in november is going to be. paul: i think all eyes are going to be turning towards washington. this is then thetion, more near-term fiscal stimulus. the question is, does this economy need more? a lot of folks are saying yes, but we need to get congress back at the bargaining table. they seem to be pretty far apart at this point. lisa: we will find out. right now, markets unfazed. they are indicated to open at

we do that right now with lisa abramowicz. geoffreyertz -- gertz joins us now with brookings, their global economy and develop and fellow. what is the next step here? i've yet to have a single person tell me this is anything but contrived. for an the next step invented transaction? geoffrey: happy to be here. i think one next step we are still unclear on, one question is whether the chinese government will need to approve this deal or not. a big sticking point up to date has been the chinese government was treating the tiktok as potential technology with national security implications. they were having export controls governing a license of the tiktok algorithm. one question we are still waiting on is how the chinese government oversaw this. lisa: what can we take away from the way this deal went down? there was a carnegie mellon professor saying the government should be in the business of setting national security concerns, but not brokering a backroom deal with a u.s. company. is that how it is being perceived? geoffrey: i t

alongside tom keene and lisa abramowicz, i'm jonathan ferro. two things weighing on investors' minds, the division risk acrosse covid the continent in europe. wheren the united kingdom you are, a lockdown. a judicial lockdown in washington as well. one of the tea leaves am looking at is strong in, really indicative of the correlated angst we are seeing right now -- strong yen, really into get of of the correlated angst we are seeing right now. jonathan: in europe, the ftse off by more than 3%. the dax off by 3.25%. europe also looking to washington. let me be clear about that. that has been the conversation throughout the morning here in london. what do the evans over the weekend me for policy and washington, d.c.? the past toward the fisc or agreement much trickier now -- toward fiscal agreement much trickier now. point, there was a huge worry on wall street about the period from november after the election went into the end of january. for market participants, they are probably a little more worried about that this morning. tom: not just 40 d

surveillance with tom keene jonathan ferro, and lisa abramowicz. simulcast on bloomberg radio and bloomberg television. into going to be eventful september. what is interesting, with the this on the screen, unconventional transaction of tesla. additional $5an billion of shares geared toward perhaps the nonmainstream, the non-wall street crowd. tesla is interesting because people using bubble with stocks .2 tesla. tom: a recent secondary, even with moonshot on the markets. this will not be publicly offered. it will be equity distribution and distributed by banks as tesla chooses. somewhat akin to what we saw with lesser successes.

surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. after our discussion yesterday with richard clarida, we get a reaffirmation on the american labor economy in this hour, claims, and all of the various numbers that come out with it. forget about the markets. forget about the chancellor of the exchequer actually dealing with the united kingdom labor market. it is a question of millions out of jobs. jonathan: permanent job losses as well, and permanent shifts in the economy. that's got to be my big take away, government confronting the idea that perhaps we are seeing permanent shifts in the economy, and they need to allow that creative destruction, the powerful transformation of capitalism to take hold and maybe step back a little bit more. i've got to say, some people will push back aggressively against that and say this is a pandemic, it will pass, and

ohe isn rumored to take on the mets and lisa abramowicz kobe the first base coach. abramowicz will be the first base coach. what does he need to does he need to do to turn around the sorriest franchise in baseball? lisa: a means to lower pay and increase results. that is the bottom line. they are already losing. they are already at the bottom of the conference and it has been a short season. it is a very expensive team. tom: look at that passion. the show is the wrath. look at the passion from abramowitz. lisa: no one needs to hear me talk about baseball. jonathan: you know what i love from lisa, she has this one line, she says let me tell you something. says let me tell you something, it means you are all idiots. lisa: carry on, john. jonathan: you will hear it over the next couple of hours when she refers to tom and me. .07% on the s&p. weakest. i have to say, the range and treasuries has really helped, and not many people think it will break soon. europe-dollar approaches 1.19. just aalreal this coming little bit. it is not a -- yield -- real yield is coming just

with tom keene, jonathan ferro, and lisa abramowicz. jonathan: good morning. this is "bloomberg surveillance live." i am jonathan ferro. tom keene, some stormy weather in more ways than one. summer is over. tom: summer is over with a vengeance. the bond market joins the nasdaq carnage. i can't emphasize enough over the last 5, 6 days the importance of this nasdaq, tesla, apple story. it harkens back so many times to derivative excesses. we have the right guess coming coming up -- guests on this. jonathan: futures down hard. down 1.9%. never mind the next couple of hours. what is softbank? tom: this is the heart of the matter. this is real simple. they publicly traded company

alongside tom keene and lisa abramowicz, i'm jonathan ferro. .5%ty futures positive dear , and i -- positive 0.5%, and i have absolutely no idea why we have a rally in europe. we will be catching up with the vice chair of the federal reserve. tom: the speech he gave august 31 was exceptionally important. i spoke to the vice chairman yesterday, and he's really enthused about expanding on a lot of this monetary mumbo-jumbo. it is an important speech, but the backdrop, you nailed this weeks ago, is the massive case build up in the united kingdom that the prime minister talked about yesterday. i'm sorry, the landscape changed yesterday when he went out to march of 2021. jonathan: the outlook for europe gets a little bit worse. the data on the services side backing that up. from my perspective for the federal reserve, the message they want to send if things get -- the message they want --said, if things get better they want to send, if things get better. tom: how many times will we mention it? jonathan: i lost count. lisa, will you count it? lisa: n

surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. "bloomberg surveillance" on bloomberg radio, bloomberg television. the quality of our guests there, including rebecca patterson of bridgewater, saying complacency into october, ramp it up ritika: . right now -- ramp it up. right now, we welcome all of you. it is simply a monday friend from what we knew friday. jonathan: it is not a quiet start to this monday morning. equity futures down hard. a bid into the bond market. stronger japanese yen. everything you would expect to happen on a risk off monday is happening. when you look to europe and the prospect of tighter restrictions around some of these economies, look no further than travel stocks. break it down sector dissector. travel stocks down 5%. tom: what i find just extraordinary here is it is not just about the future of the

we rely on lisa abramowicz as our debate expert here. jon: she moderates you and i

lisa abramowicz, let's get to that briefly. >> g.m. coming out saying they will get a $2 billion equity stake in nikola which is interesting at a time when you see this move with car companies and tech companies. at what point are you just driving a computer. that really is a question moving forward. how can some of these automakers get enough scale, enough of a broad-based appeal so they can sustain whatever comes next. jonathan: speaking of car companies, tells a -- tesla done about 4.7%. equity futures lower. points,own about 300 -2.6%. i'm going to state looking at the bloomberg it has not happened. it is really simple. once, twice, three times, a little bit of a leg up. the bid is not there as we go negative 3.05 on those nasdaq futures. critically, correlated back to a lot of other stocks as well. thethan: taking out some of froth, that is what we have been doing. we have touched on the subject a number of times. looking for a for the unjustifiable. that was the mission for so many people. some of the moves just were not justifia

alongside tom keene and lisa abramowicz, i'm jonathan ferro. s&p, we are down zero. .7% four weeks of losses -- we are down 0.7%. four weeks of losses on the s&p. int a six basis point move 10 year. what role does treasuries have in your portfolio? in foreign exchange, the euro coviding the concern with restrictions coming through in places like the united kingdom this week. euro-dollar coming down 0.3%. ago0 feels like a lifetime for foreign exchange traders right now. tom: i love what you say about portfolio construction. into q4, that is going to be the huge story. intangibles, tangibles, real estate whatever. i don't know how you construct a portfolio without a bond anchor to dampen equity vol. right now, with dow futures -221, this is a joy. bennenbroook -- nick ek 10 years ago was fx strategist of the year. it was a big deal. he got a red ferrari and looked great in new zealand. then he did it the next year. that is absolutely impossible. -- just ordinary extraordinary. nick, i want you to give me a dollar vector right now. i've got dxy o

surveillance with tom keene, jonathan ferro, and lisa abramowicz. jonathan: good morning. this is bloomberg surveillance live on bloomberg tv and radio. ferro on this fed decision day. with us is tom keene. six tense of 1%. retail sales, a decision and hiccups by jp morgan. we start really strong on the american labor economy will fold into what we hear from that press conference. , howevera longer bid long rates will stay. but then there is this reality of x million of people here with no hope of a job. jonathan: we get the forecast and i think that is important. this federal reserve may have to upgrade them and say we are not doing anything for a long time. tom: while you were sleeping, i was saying -- following this

twitter on fire over lisa abramowicz favored premier league team. we thank all of you on bloomberg radio and bloomberg television. this is bloomberg. futures up 29. ♪ ♪ jonathan: from london and new york for our audience worldwide, good morning. "the countdown to the open" starts right now. 30 minutes until the opening bell. equity futures this morning up 28. we begin with the big issue. it is the calm after the nasdaq storm. ,> down in tech stocks something we've been expecting for a while. >> shorter-term disruption for the markets. been annizing there is evaluation problem in that sector. >> the evaluations are absurd. >> this is a healthy correction. >> this is a great buying opportunity. >> this is a garden-variety pullback. >> a lot of these numbers move higher, some by 20% next year. >> the leaders in big tech -- >> we are advising investors to trim that back. >> the

alongside tom keene and lisa abramowicz, i'm jonathan ferro. i feel like we should just deal with the elephant. tom: oh stop. cut to the chase. how was tuscany? jonathan: tuscany was beautiful. we negotiated that new contract, with malan for another year. [laughter] i know you've missed me. everyone has been saying you've been crying every sickle morning. tom: this has been something, folks. there's a lot going on in europe, who will be great to have jon in london for a bit to keep track of things. just to go away from jobs, away from all the news flow we got, i mentioned this to anna edwards, i am thunderstruck by the tone barnier on- of mr. a united kingdom that is not even responding. has brexit fallen off the united kingdom at? jonathan: can we agree on one thing? just because i am here, i am not the brexit correspondent. i still have very little interest in that debate. i also want to talk about this market. i think there's been two down days the whole time. tom: absolutely. we have seen a paring back here. pause, andis just a i think ther

lisa abramowicz and tom keene on your simulcast. jonathan ferro is off to prepare for an eventful market opening. the dow 29,100. joining us is anand srinivasan of bloomberg intelligence, our expert on the technology and computing. what is so important is the computing power today. you look back at the history of apollo come of gemini, of mercury. today at its power weakest level is factors better than anything they had, isn't it? anand: it is, and the advancements we are seeing as a result of the clout industries dominance and different vectors of advancement -- he pointed to rockets.nd the falcon madetic progress being along so many different vectors. it is fantastic to see. tom: two minutes into the flight and we will continue to have this on bloomberg television. on bloomberg radio, we have anand srinivasan with us with the images as space-x moves to orbit and the deployment of the satellites. i want to go to the digital dominance we see. butay be away from space-x, certainly we have been sobered by technologies dominance in thi

jonathan ferro, lisa abramowicz and tom keene. the first full week for america. we welcome all of you to our simulcast, bloomberg radio and bloomberg television. it is merger monday. across the headline from verizon, they will buy track phones from america mobile for $6.25 billion. it is like an afterthought this morning when you look at the frenzy to get out there and by revenue. announced 60 minutes ago, if you have access to these capital markets and many people do, they have the money to go do it. immediate fixed income picture, william gross will join us at the bottom of the hour. we will get an update from the retired one. i want to talk to him about the financial repression. lisa, that is a backdrop to everything we talked about. anybody with yield after inflation is losing. they are falling behind every day. lisa: it is cheaper to borrow money and invest in anything else because it is so cheap to borrow. that is what is driving a lot of the frenzy. there is a question about how far can the financial repression go. that seems to be the main questions the f

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: from new york and london for our audience worldwide, good morning, good morning. this is "bloomberg surveillance, " live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. calm afterle bit of the nasdaq storm. tom: it's not risk on. you don't have higher bond yields helping out, really signifying the enthusiasm, but i like the idea of calm, and maybe stability as well. nasdaq 100 down 11%. yes, that is a correction. the dow down only 5% or 6%. that is not a correction. jonathan: correction emits massive rally -- correction amidst a massive rally. tom: i will get you something from tiffany. jonathan: i look forward to that. data coming later. lisa: i am very curious to see with the jobs picture will be. to tom's point, this is not a full-blown recovery where people are looking at a risk on feel in the markets. we will get the july job openings data, which is the leading indicator for jobs growth. selling $35, billion of 10-year note's. als

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: for our audience worldwide, good morning, good morning. this is "bloomberg surveillance ," live on bloomberg tv and radio. she sent a reality check. lisa abramowicz. tom keene has been in cash's whole life. thatenvious of a market moves down again. tom: i'm looking for an entry point here. purves ofael tallbacken make a separation of the equity activity we saw yesterday from bonds, and particularly from fx. kit juckes said the same thing as well. this is very discrete to the equity markets yesterday. see it with the vix in almost two points some hour or so ago. some improvement there. jon: i would agree with that. the japanese yen did nothing in the last 24 hours. treasuries did nothing in the last 24 hours. the question we have to ask, is it just an equity event, or does it raise really serious questions about folio construction from here on? lisa: especially given the fact that people are talking about the death of the 60/40 portfolio. what will act as a hedge if you get a

lisa abramowicz and tom keene. we say particular thanks to our clinical team for global coverage over the last hours. i came in this morning in the first person i saw was kailey leinz who is helping out asia with their interpretation of this debate. lisa: you're making our office sound like a sweatshop. tom: david westin with the coverage and was basically incoherent after a spirited evening. lisa: he nailed it. kevin, if you're listening, you nailed it. tom: kevin cirilli nailed it. we look for the vice presidential debate in a number of days. and then october 15 they do it again. dow futures -48. ferro.up, jonathan paul sweeney and i will assist you on bloomberg radio. good morning. ♪ ♪ jonathan: from new york and london for our audience worldwide, good morning, good morning. "the countdown to the open" starts right now. equity futures recovering. down just four on the s&p 500. we begin with the big issue. fight night in cleveland. president trump: you can never have done the job we have done. biden: you shou

lisa abramowicz and tom keene. jonathan ferro is leaving tuscany. rumored to be somewhere on the continent. i am not sure where. he is out there somewhere. lisa: sing it. tom: i miss john so much. i go home and we talk soccer. good morning. this is what the show is about. where there is interesting news, we are able to call upon any number of legit experts. joel livingston will join us in and the on the debt credit market ramped up against all of these tech stocks. cameron crise joins us with bloomberg live. read forlog is a must wall street. we are thrilled cameron can join us. cameron, in the secondary offering, you and i tried out the hilton hotel. we have rubber chicken, moved some vegetables around a plate, of institutional guys asked questions about the management. must wants to mr. ask questions about that process? asklon musk wants to questions about that process? cameron: he does enjoy the sound of his own voice. i tend to view this as a wind fall. in theve split the stock robinhood crowd do not seem to understand each share is worth less t

alongside tom keene and lisa abramowicz, i'm jonathan ferro. it is fight night in cleveland, ohio. the debate in about 14 hours' time. quite the spectacle lined up. 1960you go right back to when this world changed with tv and

we are riveted by premier league opening this weekend, lisa abramowicz is a study. lisa: yes. jonathan: she might have chosen a team. rumor has it. lisa: i will not reveal anything until monday. on monday, i will come in and it there mayor and may not be paraphernalia -- and are there may or may not be paraphernalia for my favorite team. jonathan: if you have gone with a london club, can you give us a preview? lisa: you have to wait like everybody else. there is a lot going on today. as you mentioned that 7:45 a.m. meeting. we will get that rate decision. the meaning 45 minutes later's later,is christine -- speaking is christine lagarde. and 8:30 a.m., the u.s. jobless claims. we will probably see ongoing improvement. we saw that yesterday. the question i have is when do we reach new normals, the potential longer-term damage in the labor market. this tenet is going to vote on a skinny relief bill today. the democrats may have enough to block the vote. this will be interesting to see what gives and take there will be on state and local funding, that seems to be right now the ho

lisa abramowicz, claims in america. lisa: we will be getting jobless claims data at 8:30 a.m. eastern time. curious to see the integrity of the data. that will be a major focus as we see a decline in the total number of jobless claims. at 8:30 a.m., august housing starts. is really hot housing market hunkering down for an all-cash on-site -- sight unseen. a nancy pelosi will be giving a press conference, talking about money for coronavirus testing, but the focus is on fiscal stimulus and her approach to holding out for more money. president trump saying he supports the bigger numbers yesterday, the rift in the republican party is growing. jon: this is what the federal reserve and bank of england avenue in common, both institutions held hostage a fiscal policy. we will talk about the fed in a moment. the bank of england headlines crossing the rate unchanged. the asset purchase target unchanged. sterling, a little new guidance. the bank of england will not try to do significant progress on its inflation goal. guy johnson joins us to break it down. good morning to you, guy. guy:

lisa abramowicz and tom keene. a most important day for this nation's politics. bob woodward joins us of the washington post. 19 books across his storied career. "rage" is the book. it is wonderful. you've been out on the interview trail. i saw the interview with the atlantic. i want to focus, bob woodward, on this historic moment, the debate, and also look back to richard nixon and the tapes of another time. as you know, michael rosen ball could stop you called. he stopped me cold with a photograph over the shoulder of sam irwin and there was john dean testifying at the watergate hearings. there were tapes then and tapes now. did you know as you taped president trump it would have an impact much akin to what we saw from the watergate hearings? bob: no. i certainly did not. i was thinking of not releasing the audio, and jamie danielle at me,and my wife persuaded no, in this era when people distrust everything, trump's voice is the most recognizable voice in the world. put it out and people can hear .t for themselves even after doing this for 50 years you learn th

lisa abramowicz and tom keene. we will slide right into this because i think it is something we've under reported an under discussed. that is intangibles, including plumbing, and the acclaimed granite marble top. barry ritholtz joins us. barry, you've enjoyed the migration of 20 miles from climbs ofn out of the the hamptons of new york. the hamptons of this nation are booming. we all know the reasons why. what does that signal about the future for the haves as they invest in the markets? barry: there are a couple of interesting aspects to this. it is funny because we had a lot of work plans. we bought a fixer-upper and we have had a lot of work planned over the last couple of years. everything was put on hold in february and march. as the contractors have started being able to do work, i am always peppering them with questions. to me that is the best economic research you can do. it is shocking to find out that if you want lumber or timber or any of the artificial lumber, there is an eight week delay. if you want p

alongside tom keene and lisa abramowicz, i'm jonathan ferro. with the president of the atlanta fed, michael mckee has dropped by. michael: good morning to you and good morning to raphael bostic, president of the atlanta fed. thank you for being with us. i want to start by asking about the new framework. we know what it is. appropriate monetary policy will likely aim to achieve inflation above 2% for some time. what does that mean for you. how do you define moderately above and how long is some time? pres. bostic: thank you for having me on bloomberg. it is great to be here. i did not talk to you often enough. in terms of your question, for me one of the challenges we have had historically is when unemployment, or when the employment level has gotten too low, there is been a concern about economists and policymakers that would consider -- that would trigger inflation that would not able to be controlled. the reaction has typically been we will try to stop that labor market from overheating, and then in turn that can put the damper on inflation.

jonathan ferro in london, lisa abramowicz and tom keene in new york. good morning on bloomberg radio across the nation. good morning on bloomberg television worldwide as well. theferro, without question most mysterious jobs report i've ever witnessed. jonathan: we talked about the wide range all morning. let's talk about it again. at the top, 2.4 million. that's the high estimate. below, -100,000. the pace of the recovery is slowing. i wonder if we have seen more evident -- if we are seeing more evidence of that a little later this morning. tom: i thought of one of your good questions earlier, the idea of this shift to the new unemployed. forget about furloughed. forget about all of the other language. it is people terminated. lisa: people are becoming permanently laid off. initially it was temporary. my question today is going to be is bad news good news, and is good news bad news? the idea that if we get a worse than expected report, we will get into this for some as we will get impetus for some kind of fiscal support -- we will get some kind of impe

alongside tom keene and lisa abramowicz, i am jonathan ferro. equity futures bouncing back a little bit. elevated on the s&p. in the bond market, nothing. .67% is your yield on the 10 year. of $1.17.r just south data mixed earlier. services not great. manufacturing ok. u.s. pmi's in about one hour and 15 minutes. on the economy, the outlook for recovery and the need for fiscal stimulus, the fed buys chair richard clarida had this to say just 30 minutes ago on bloomberg surveillance. >> because of the depth of the shop, the economy has to recover. in our baseline, the recovery relative to last downturn will occur in three plus years. until we get to that point, overshooting is an academic point. we want to get to the economy to 2% inflation. we think along with fiscal support that can happen. keene, there is the punchline. "we think along with fiscal support, that can happen." will we get that support? tom: that is a huge question. we heard that from chairman powell yesterday. mentioned notman once, not twice. lisa was absolutely rude. he did not

alongside tom keene and lisa abramowicz, i'm jonathan ferro. you are listening to "bloomberg surveillance," live on bloomberg tv and radio. advancing almost 1.3%. the move in europe, though. the dax, the equity benchmark in frank for it, germany, after getting shredded last week, we come back and get -- come back of it. you see it reflected in the euro, too. tom: the guy at deutsche bank over to commerzbank, that helped, right? jonathan: i guess to some degree. the hsbc move really helps on the ftse this morning, up by 1.5%. but clearly the concern was there for all to see on a policy outlook, on covid restrictions. we said at this time last week, happy talk in europe is over. i don't that this bounce brings the happy talk back. to happy talk is still behind us. tom: we welcome all of you on bloomberg radio and blumer television -- and bloomberg television. a nice rebound in sterling as well. this conversation goes somewhere in the vicinity of 12 ways. michael mckee is our economic this -- is our economics and policy correspondent. i am sure th

is "bloomberg: surveillance," with tom keene and lisa abramowicz. >> good morning. this is "bloomberg: surveillance." lisaside tom keene and brevets, i am jonathan ferro. good morning new york. a beautiful morning in london. is a busy one with the mande very much front and center as we start a new trading week. tom: it is free money. we are going to talk to bill about financial repression. this has been widely predicted by a lot of people, deals have to be made. revenue isn't there, so you've got to go out and buy it. >> you got to get better. -- bigger. athave not confirmed it here bloomberg, bob but that is a story tom: -- nine tom: what's john, lisa and i do is we go to bloomberg experts on this. john farrell, jonathan tice said exactly the same thing. yeah right, but there are all sorts of reasons why that combination could be the giant bank of the continent of europe. ritika: a lot jonathan:jonathan: -- a lot to get through including lisa getting excited about tiktok. [laughter] we know lisa does tiktok often with the kids. you've got a decent excuse. lisa: it

alongside tom keene and lisa abramowicz, i'm jonathan ferro. counting you down to the opening bell, with equity futures up four, positive 0.1%. tom: a little bit of calm. , isaw the abrupt reversal would time it at

alongside tom keene and lisa abramowicz, i'm jonathan ferro.

alongside tom keene and lisa abramowicz, i'm jonathan ferro. i feel like we should just deal with the elephant. tom: oh stop. cut to the chase. how was tuscany? jonathan: tuscany was beautiful.