Taking a break yesterday, but we have apple climbing again. Investors want in on this defensive and growthy tech stop. Facebook up 4. 7 after facebook and twitter both blocked President Trump, a video on covid misinformation. Facebook getting a bounce on that considering they had not taken a strong action in the past, something some investors wanted to see. Making it interesting, when we take a look at the vix on the nasdaq 100, it is higher. That tells you going into the payrolls report or some expectation volatility tomorrow could pop. David stocks may not be moving much yet, but there is action on the bond side. My question is how low can the 10 year yield go. We are well into negative territory on the real yield. Abigail this is a great question. We have had this rally for stocks, not just out of the march lows, but more recently as the nasdaq has been carving out alltime highs. Over the last five weeks, bonds have been rallying. A very persistent rally in stocks and bonds. Many folks have been saying the rally in bonds has everything to do with the fed, but since june 8 the fed Balance Sheet has been flatlining, even down a little bit. You have bonds rallying. That tells you some investors are cautious. They are hedging the risk asset portfolio when you see bonds and stocks rally over a longer period of time, it tells you one side is more likely to be right. Tomorrows payrolls report might be one piece of the puzzle, and then the stimulus deal is probably the bigger piece. When does it come through and what are the specifics . David i cannot let you go without asking about gold. Gold went over 2000. What is going on with gold . Abigail gold has been helped out by the weak dollar. The dollar since the march high has been a huge downtrend, and more recently it has steepened. There are signs the dollar may start to strengthen, but gold has been on a tear. It is doing something it did in 2011. It is fairly overbought. It is 30 or more percent over its 200 day moving average. That is typically not sustainable. To 80 , bold went 70 above its 200 day average. This rally may just be starting. Silver technicals suggested may start to cool off. We are looking at these precious metals, the gold and silver bulls can get so excited about the situation. They take it longer and further than you think. At some point did michael off. David thank you so much abigail at some point it might cool off. David lawmakers trying to bridge the gap between republicans and democrats over possible fourth round of stimulus. We welcome senator Chuck Grassley of iowa, chairman of the Senate Finance committee. Always a pleasure to have you with us. Give us your sense of where we are. We have a sense there is some narrowing gap but there is still a ways to go. Sen. Grassley long ways to go. We do not have an agreement on is six figure, which weeks ago is 3. 5 trillion. We table to build 10 days ago at 1 trillion. There has to be some agreement on what we will spend before you get into details. They are going through the details now. All of this stuff is going on at one time. Report onime i had a how Steve Mnuchin and metals were making out with Chuck Schumer and nancy pelosi was late yesterday afternoon. I presume they will reconvene today and i would get a report about 1 00, and by the way, you say i am involved in it, i am involved in it, but there only those four people at the table. , maybe get a report after 2 00 i could tell people more, but right now i think the big holdup is the 600 versus the 200 we have in our bill for the federal enhancement of state unemployment compensation. Concerned, am democrats need to start compromising. As of yesterday, they had not moved off of the 3 trillion figure. Thatkeep saying republicans are not compromising. We have something out there and we are trying to talk to them. Compromise is not onesided. We are working for the american people. We have to deliver. David one of the many reasons we love having you on is youve been through a fair number of these before. Is this the standard par for the course in washington . You take it down to the last second and there is a deal made, or do have a sense this may be in trouble . Markets think therell be a deal within the next week or two. Sen. Grassley i think there will be, but what i do not know is whether or not in the back of the minds of Chuck Schumer and nancy pelosi, if they away with doing nothing, will republicans get blamed for it. If they were certain republicans would get blamed for it, then i do not know whether we would get a deal, because they want to use this issue to win the presidency. That is the big game. Of course, what we are trying to do now as republicans is what we did in march when we passed the first cares act. You can call it stimulus, whatever you want to call it. We did it unanimously. Can you believe that . If there were hundred people there, it was 1000. There was not anybody against it. Why cant we do that again now . It is the same people hurting. It is the same economy the government shut down for the first time in the 240 year history of our country, it is our responsibility to open it up. We had unanimous consent to do that, unanimous consent to fight the virus with the same bill, unanimous consent to help the people who were hurting because they are unemployed, because what the government does, and it has taken a little bit longer. We are planning. This is what this debate is all about. Why cant it be done unanimously . How much is a political calculation, how much is it the democrats that you republicans cannot afford not to have a bill. Look at your constituents, are they saying whatever you have to do we have to get some help . Sen. Grassley if you say republicans have to have a bill, then you are saying republicans should not have a position, we ought to go along with nancy pelosi. This business of legislating is the art of compromise. David youre not getting much compromise from the other side. Let me ask you one specific thing. Pension reform. Is that going to be and whatever bill comes out . Sen. Grassley not unless poulos he negotiates with me. Notwants to get in unless nancy pelosi negotiates with me. She wants to get in just a bailout. We have bailed up pensions before. My approach, and senator alexander is working with me, if we could get democrats to sit down, we would reach a compromise. If we bailout without the reforms, five to 10 years we will be back with another bailout. The reason these multi employer pension systems are in bad shape have note the trustees run in a businesslike manner. We have to put some responsibility on the trustees and people benefiting from the pensions are going to abdicate in a little bit. Taxpayers are going to have to kick in, the employers will have to kick in more. At the same time, we will also help the government pension guarantee program because it is going to go broke in 2025. We need to reform these pensions and have the people that run them do it in a businesslike way. That is what our bill is all about. It is taxpayers helping, it is the employers kicking in a little bit more, it is the retirees who, if they do not do anything and going to the government pension program, they are going to get there pensions because the government does not guarantee up to what most of these people are getting. They have to realize that kicking in 6 per 7 out of the pension now is better than getting cut 75,000. If we do what nancy pelosi wants to do, we will just bailout the whole system, throw more tax money after it, and then five to 10 years from now you will do it again. David as you know so well, the constitution anticipate legislation will begin in congress and will make its way to the other end of pennsylvania avenue. Given what is going on and the refusal of democrats to compromise number to reach a compromise, are you in favor of President Trump taking it into its into his own hands by executive order and doing things like Unemployment Insurance or the suspension of the moratorium on evictions. Sen. Grassley before i answer that question, i have to tell you how i respond to a president , i appreciate he is making a difference in washington, d. C. And i like his leadership and most of his programs. His major problem is he says im going to issue an executive order. The president would be better off if he would say i am going to consult with my lawyers and see what i can do under the constitution and under existing law, and if i have the authority to do it, i will do what congress can do. He cannot just assume because he is president of the United States he can do anything he wants to. Questionnswer to your is along the lines of what i just said. I do not know whether he has the authority to do it, but if he has the authority to do it he ought to do it. David thank you so much. Was a pleasure having you with us. That is senator Chuck Grassley, republican of iowa. Coming up, former fbi director louis freeh is here to talk about his new role and howie is advising and how he is advising clients to navigate the difficult National Security between the United States and china. Power onalance of Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. We turned to Karina Mitchell for bloomberg first word news. Hasna the bank of england raised the prospect of cutting rates below zero but only after the crisis has passed. Bloomberg spoke with andrew bailey. Planning to use them at the moment. We prefer to look at quantitative easing and Forward Guidance as tools, but i would make the point we will go on looking at the toolbox. Nothing is fixed forever. Karina you can catch more of our interview with governor bailey on the bloomberg terminal, bloomberg. Com, and throughout the day on Bloomberg Television. The white house and Congressional Democrats are running up against a selfimposed friday deadline. They promised to strike a deal on a new virus relief package, but despite some progress there is been little sign they were able to resolve fundamental differences. White house chief of staff mark meadows has warned that if there is no compromise soon, President Trump moved to restore Supplemental Benefits and a moratorium on evictions. Will extend beyond tictoc. Mike pompeo urged American Companies to bar chinese applications from their app stores. He says those apps are significant threat to americans data. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Karina Mitchell. This is bloomberg. David . David President Trump has made protecting u. S. National security interest a priority of his administration. We welcome someone who is an expert in this area. Louis freeh. He served as the director of the fbi under president clinton and he is the founder of Freeh Group International solutions, which lisa lee merged into alex part which recently merged into Alex Partners. Congratulations on your deal. Lets start with Alex Partners. Explain what this deal is and how it changes your life. Louis thanks very much. Our group was fairly small, about 24 people specializing in complex investigations doing a lot of compliance work for big Global Companies like walmart. We have represented daimler, erickson. Weve done a lot of work in the cybersecurity space. We also do a lot of problemsolving. One of the things we did was oversee the settlement between bp oil and the five attorney generals, the department of justice, the epa, which was an 18. 5 million settlement. For a long time, punching above our weight, the merger with Alex Partners is a tremendous opportunity for everybody. Are 2500 they are a 2500 person enterprise. They have offices overseas. We have had a couple of overseas offices and a lot of port engagement. The platform is great for us. Well enhance their compliance and their investigations and all of the services they bring, not just through structuring into business improvement, but financial forensics will give a great set of services for our client. Of us,for an awful lot the coronavirus pandemic has changed our lives. Has it changed what you do, your professional life . Do you have a lot of retention to handle things including compliance coming out of the pandemic . Louis is a good question. Weve been busier in the last several months then before. Partners much busier in the restructuring area. Coronavirus,se the unfortunately, besides all of the human suffering it has caused, has impacted Large Companies and Small Businesses, creating a lotto productivity , requiringoductivity internal controls to be strengthened, and the compliance Big Companies use, companies as well as small companies. Test during an economic downturn we are having now. This raises the risks we address, both previously, and alixpartners. David i mentioned the issues around china, particular because of tiktok, cybersecurity issues. To what extent do your corporate andnts have to look at data access of Chinese Companies to data. How much of your business has caught up with that and how you protect data . Louis a lot of what we do in terms of advising boards and ceos, particularly Global Operating companies about securing and protecting data is a universal description. I do not think it is particularly specific anymore to the prc or the Russian Federation or many other countries. If you remember when the economic espionage act was passed, i was in the department of justice then, 1996, the intent of that statute, which is an underutilized statute, unlike the farm growth practices act, much less activity in terms of enforcement. The act the idea of the act was to protect companies, not just American Companies, but companies to make sure they could preserve trade secrets, which prior to that act were only protected under state statutes. Not prcce to clients is china specific. Do with the firewalls and the proactive things, and the training and awareness of people inside the wire about securing and protecting data. From europe and other places around the world, the privacy requirements, the data restrictions have become much more enhanced. General ands pretty pretty prescriptive to everyone. David thank you so much to former fbi director louis freeh. Well be able to talk to him more in the second hour of balance of power about his fascinating work. In the meantime, we will talk later this hour with Donna Shalala of florida about what is going on with coronavirus there. Last time we talk to her she said it was totally out of control. We will get an update. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. President trump has been speaking at the white house. Before he got on the helicopter he spoke to camera. He said he is hopeful we may have a vaccine for the election november 3. That his team is doing a great job. He also said he is seriously considering the executive order if they do not come up with a compromise on the fourth round of stimulus. That is President Trump speaking a few moments ago at the white house. It is time for the stock of the hour. It is Cloud Computing provider fastly. It has flourished in the coronavirus that is having trouble at the moment. Scarlet fu is here to explain. Scarlet the stock gapping lower at the open, falling as much as 21 . It revealed its biggest customer is tiktok, that is clearly a double edged storm. The app made up 12 of fastlys revenue. The backdrop is President Trump is targeting tiktok, he wants to ban it or sell it to microsoft by september 15. This poses a risk to tiktoks thirdquarter guidance. David exactly what does fastly do . Scarlet it calls itself a content delivery provider, but it basically helped speed up tiktok or whatever app or website you are accessing and load everything faster. It does that by cashing data on servers around the world. What that means is it was perfectly positioned during the cobit lockdown and investors pile into the stock. Fastly started the year around 20 a share and got to almost 120 this week. The companies that have been reporting have been reluctant to offer Forward Guidance because they have little visibility. Actually fastly was able to give guidance, but they admit the outlook assumes the status quo for tiktok, but people are not quite sure it can deliver. The analyst reaction to the result is they think it is too costly given how any questions still remain around the outlook. David it has risen an awful lot. It still has a ways to fall. Many thanks to scarlet fu. Coming up next, we will talk with congresswoman Donna Shalala of florida. This is balance of power on bloomberg. David this is balance of power on Bloomberg Television and radio. Im david westin. For bloomberg first word news, we go to Karina Mitchell. Karina there is a sign the labor market may be improving. Applications for on Employment Benefits fell to the lowest since the pandemic started. Million,clined to 1. 2 200,000 less than the median forecast. So with claims over a million, the job market has a long way to go before it recovers. The Trump Campaign raised a july. 155 million in it was the first time the president outraised his democratic rival since april. The Trump Campaign manager spent 82 million on tv ads so far, compared to 49 million for biden. Goldman sachs warns the development of a Coronavirus Vaccine could up and financial markets. The profitability of an approved vaccine by the end of november is underpriced by equity markets. They say one possibility is a selloff in bonds and the rotation out of technology into cyclical stocks. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im Karina Mitchell. This is bloomberg. David thank you so much. Breaking news, Ohio Governor mike dewine has tested positive for covid19. The 73yearold is in his first term as governor of ohio and has been credited with doing a good job of the virus in ohio. The governor of ohio has tested positive. Florida has been struggling to get coronavirus under control, the number of deaths continue to rise, although the number of cases appeared to be leveling off. We welcome now congresswoman Donna Shalala. Last time we spoke two weeks ago, you said it was out of control. Is it better today . And actually is not. Remember, we closed down our testing site with the promise of a hurricane that did not happen, but it is still out of control. We still have Community Spread and all of our communities and south florida, and the governor has still not mandated masks, which would be the simplest thing to do. We have too many businesses that are open, too many people that are forced to go to work. When you look at where the cases are, they are still in nursing homes, low income communities, Multigenerational Families that live in close quarters in which someone has gone to work and come back and unfortunately infected the others. We are still in a very serious situation in florida. We cannot open our schools, certainly not in south florida. We have not gotten our arms around this virus. David it is a puzzle to me, frankly, because as we listen to Public Health experts, they are unanimous in saying that masks will make a big difference. I spoke to dr. Anthony fauci yesterday and he said you have to wear a mask, and you have to listen to the medical experts. Hhs. An what is the problem here, is an etiology . Ideology . The shalala the problem is federal government politicized this issue. Beingot imagine a mask political at all, when it is the simplest thing we could do. We are not asking people to do high tech, sophisticated things. Practice social distancing, and wash your hands. Most of the big strides in Public Health over the years have been the simplest things. Sanitation, for example. Only when we got the vaccine did we start saving lives through other types of approaches. In this case, we know what to do, we know how to control this fire is in our community, and we just need to do it. Thee is no tension between economy and Public Health, as far as i am concerned. We cannot open up the economy unless we had this virus with a hammer, and all work together. David that is something that we heard from dr. Fauci, it is not either or. There are things that you can do to improve the health of people and the economy. Where is the Business Community in florida . Some may think that they need to get the thing under control, just as an economic matter. Rep. Shalala they are of two minds. They want to open to get some income, but at the same time, they understand nu to protect their workers and community. They are split all over the place and there is no clear leadership from the business beatnity saying, lets this virus, and then we can all open together. David lets talk about another subject that is important in washington, this stimulus bill, and the conflict. We spoke briefly to Chuck Grassley and he says the democrats are not willing to compromise. Are the parties going to meet somewhere in the middle . I think we have agreement on the Small Business loans, that money that has not been spent, and stretching out ppp grants for Small Businesses. Im sure that they will reach an agreement on school money. We are fighting over state and local money. What is state and local money . Firefighters, police officers, teachers. It is not some bureaucrat. These are the most important people in our community keeping us safe and organized. And then of course, there is the 600. People are calling my office for the first time in my career, people are calling my office crying, desperate and scared because they need money to pay rent, buy food for their families, protect their kids, and millions of people all over this country have lost their jobs through no fault of their own. The idea that we are fighting over 400 per week is ridiculous, when what the republicans put in their package was paying for a tax cut for Business People who went out to dinner. It is called a three martini lunch. Why should poor people who have lost their jobs be paying for that . 600 is only reasonable. What they have proposed is not workable. Florida, somey in people have still not gotten their unemployment. Many have still not gotten the irs check they were supposed to get, the 1200, because the irs is sending it out in groups because they dont have capacity. You start pulling a run with this on implement system, many of the states have legacy systems, they cannot reprogram for months. Puttingalking about americans in desperate situations. It makes no sense. I dont know anyone in the Business Community or anyplace else that does not think that 600 a week is too much money, and there is no evidence it keeps people from going to work. People in my Community Want to go to work. The hotels are close, cruise lines are closed, restaurants for the most part are closed. There is no place to go to work. By the way, it is their money, they had been paying taxes for years and years. All we are doing it is bringing it back when they need it. I want to turn to politics. Presumablyill picking a candidate between now and when the convention starts. Do you have a candidate you favor . What do you make of the fact that he has committed to the fact that it will be a woman no matter what . Rep. Shalala everyone in florida has supported val demings is our hometown girl. She was police chief of orlando. There are many qualified candidates that the Vice President will be interviewing, i understand, next week this week. I could not predict who he is going to choose. Some of them may be stronger in south florida than others. But heres what they have all demonstrated, particularly the elected officials. We have broken the Glass Ceiling obviously first with hillary clinton, but women have demonstrated they can win large statewide elections, have demonstrated they can raise serious money, millions of dollars, and they certainly have demonstrated they can lead this country. That viceexcited President Biden is going to pick a woman. I think it will bring strength to the ticket, but he is the candidate that brings strength to our ticket. He is the grownup that will save our country and bring us back to a world leader again. We are going to do it. I cannot wait for his announcement. David i daresay, experience in modern history says you dont pick the Vice President that gets you elected. Therefore, understanding you cannot predict who it will be, what is the factor that you would urge Vice President biden to pay most attention to when making his selection . Rep. Shalala it has to be someone he feels could be president , if for one reason or another, he was not able to do the job. It is really chemistry, someone he can work with. It doesnt have to be someone that he has agreed with on the campaign on every issue, but it has to be someone there has to be some chemistry there, someone that he can work with. It doesnt have to be someone but he knows very well, that kind of chemistry, i think, is important. By the way, he has to pick someone that will be a partner in the campaign. You are right, the Political Science literature says it doesnt matter who you pick him about you dont want a trunk campaign to run a campaign against the Vice President ial pick. So you have to be careful that you have done full betting from that point of view. David always a pleasure to have you with us, democratic congresswoman from florida, Donna Shalala. We speak with the former secretary of education, arne duncan, about what is safe and what is not, and what is to be done about it. This is balance of power on Bloomberg Television and radio. You should try as best as you possibly can to get the children back to school for reasons that, when they are not in school, it child,terious to the psychologically and maybe even poor nutrition. Then there are secondary downstream ripple effects for families that may have to stop work to take care of the children. The goal should be to get them back. Fauci that is dr. Speaking earlier about reopening schools. Tune in all weekend for my special conversation with dr. Fauci. 15,000 schoole, districts across the country are wrestling with the difficult decisions about whether and how to reopen, with a range of options including variations on physical presence and Remote Learning. We welcome one of the nations foremost experts on education, arne duncan. He served as secretary of education under president obama. Always a pleasure to have you with us. Say there is fauci a lot of reason to get the kids back in school. He also said you have to look at hybrid. Where are you on that question of getting kids physically back in the classrooms . Arne thank you for having me back on. Educators, as parents, we all want our kids to go to school in person. Thaterrible challenge is is not always safe to do. What we have not done as adults in march, country, april, june, july, and now in august, when we have not done to make our communities safe is what would make our school safe, which means many places will have to open virtually. Some places may be able to start with a hybrid. Very few places will be able to open with children and adults physically. It is bad for kids, bad for education. Flockedcountry have discipline, science. We have not followed other countries. A terrible effect, destructive impact on education, kids, and on the covid death rate, which is unacceptably high in this country and still rising. David i think new york city is the only major School District holding out the possibility of reopening physically. Chicago says they cannot do it right away. At the same time, with Remote Learning, for uppermiddleclass, upperclass people with their fancy macbooks, a lot of support, wifi. There are a lot of urban districts across the country that struggle with Remote Learning. Can we teach children through Remote Learning . Ane let me answer that in second. But for the viewers to understand how complex this is, schools are not just places of education, they are social safety nets. We have been doing weekly calls since the pandemic started on food distribution. Throughout this, from day one, districts have continued to feed children, their families, and the Broader Community tens of millions of meals every day. It has been an heroic effort. Caredly, we have to take of kids social emotional health. We have seen districts pivot quickly to Remote Learning. Have so many families now in financial distress, People Living paycheck to paycheck. Their world has been turned upside down trying to take care of those kids. Finally, yes, we have to figure out how to educate children. At the local level, we have seen extraordinary empathy, urgency. Here in chicago, they have given out 100,000 devices to children. San antonio, 49,000 students. They have given out 47,000 devices. Parkedend, indiana have school buses in the poorer areas so that students can have access to wifi. What does pandemic has done is lifted the bandaid off of these across ournds society, in our education system. We have to make sure children can learn anything they want, anytime, anywhere. We have to close the Digital Divide and do something for children. Innercity,he appalachia, or in native american reservations. David you point out we are not where we should be, want to be, but we are where we are. It strikes me that there are real challenges for Remote Learning for the child but also the supervision at home. You cannot just put them in a room. And the teachers, it cannot be the same teaching remotely as it is in person. It must be a different process. Arne all of this is threedimensional chess. It is a new world, so lets walk through it. For our babies, prek, our little guys, it is really hard. As we think about opening physically, whether at the start of the year or a couple of weeks into the year, i would prioritize bringing those children back. My children are freshman in college, rising junior high school, the online is easier for them. We have to try and get the younger kids back into physical buildings. Maybe we have to use the high schools for the lullabies. Little guys. When the pandemic started, we were thrown into this Virtual LearningWorld Without preparation. Teachers have had a couple of months to work on this, to have professional development, get better at it. It is still imperfect, as a parent, dad. Some of the classes worked well, others didnt. The large discussions were hard. Breakoutslso had zoom that worked better. Many children, probably the majority in this country, are going to spend somewhere between half and all of their time of the school year in this situation, Virtual Learning world. We had to supporting our teachers, parents who are helping their kids in this time. Again, i would push the idea that children should only learn in a brickandmortar building five days a week, six hours a day, nine months out of the year, that is outdated. Children to learn anything they want, anytime, anywhere. Find their passion. Make sure we close the Digital Divide, get devices to every child across the country and make it ubiquitous like running water. Finally and briefly, if we can, the new York State Attorney general is suing to dissolve the nra. You may not think it has much to do with education, but as i look at chicago, there is a gun issue there. Arne there is a gun issue across the country. We have way too many shootings. No other country has that. The nra has been a huge part of that. Their existence being fundamentally challenged his me a ray of hope that i have not felt in a while. I want our children to grow up in this country without fear or trauma. Maybe we are getting closer to that day. David always a pleasure to have you with us, arne duncan. Former secretary of education under president obama. This is balance of power on Bloomberg Television and radio. Vision and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Englands in may be looking more robust than some thought that thebank of governor governor for the bank of england says they are ready to step in if necessary. The things that we have looked at our further quantitative easing, potentially using negative rates, and Forward Guidance. [inaudible] we do discuss it. We havemething preferred to look at quantitative easing and Forward Guidance, tools in that respect. I would make the point that we would go on looking at the toolbox. Nothing is fixed forever. It is not in our planning at the moment. It is true, when you look at the experience of other countries, they appear to have work more effectively in their recovery phase. Would, however, qualify that by saying i think there is a tricky identification issue as to what extent it is negative instance, the for recovery of the banking system, the lifting up provisions, therefore the ability to lend, and the question of whether that would have occurred anyway. It is a tricky issue. The evidence is there but a little bit hard to identify. In terms of sequence, not something that you would rule out . The message we are giving today is they are in the box. There are other Central Banks who said they are not in the box but they have drawn different conclusions. I can understand that. They are in the box, we are not considering using them at the moment. David that was the bank of england governor andrew bailey. Coming up, balance of power continues on bloomberg radio. We willecond hour, speak to a senior economic and strategy advisor for the trump reelection committee. This is balance of power on Bloomberg Television and radio. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Welcome to bloomberg markets. Im vonnie quinn. Here are the top stories we are following from around the world. An exclusive interview with oak street oaktrees howard marks. Why he does not see a vlike recovery. Another 1. 2 million americans filing for jobless benefits last week. An indication the labor market is improving, if you can believe it. Details on this very marginal improvement. The battle to open schools for in person learning. President ofcted the National Education association, Becky Pringle will join. Lets get a quick check on the markets. Ambivalent market overall