Sunday. Meanwhile we should note that this comes as joe biden is going to be attending a town hall on abc this evening. That is set to begin at 9 00 eastern. It comes as President Trump will also have a town hall at the 8 00 eastern our, and they will be on abc and nbc respectively. This is supposed to be the night of the debate, but that has been canceled. David dueling town meetings on two rival networks. Is there any reason to believe this information will interfere with that town hall meeting from joe biden tonight or with Kamala Harris being back on the campaign trail monday . Kevin no. They are saying theyre having rapid tests throughout several days, they test both of the candidates and staffers. President trump weighing in earlier today, saying he takes frequent tests but did not specify how many tests. David thank you so much to our chief washington correspondent. Every day bring some new development that may or may not affect the election. What are the markets telling us about what matters in this election . We are looking at ways in which the markets are pricing in election possibilities. We call that market metrics. For todays installment we welcome mike schumacher, wells fargo global head of microstrategy. I am fascinated by this question of are the markets telling us anything about the election. What are they telling you . Mike it is interesting. The thing we focus on is the Options Market. That is important because you can create a clear timeline of events. Their options to trade with expirations of one month, two month, three month. One month takes us 12 days past the election. If all of the Market Action is implying the election will be done in 10 days, you want to see a big dropoff between one and two month volatilities. That is not the case. Instead there is a small gap. That tells us the markets are anticipating a messy period. We think it is mostly the late election possibility or delayed results, possibly brexit thrown in. The markets are telling us it will be a rocky time in late november or early december. David there has been a fair amount of polling including the element in the campaign, including President Trump getting covid. Have you seen a shift over the last two or three weeks . Mike a little bit. It has gone not as much as i would thought given the change in the election odds. If you look at the online markets, still pricing almost a 60 chance of a blue wave. Down quite a bit but still quite high. The chance of a joe biden when was 70 about a week ago, now it is the low 60s. We anticipate the Options Market would effectively say with joe bidens chance is increasing so much, this notion of a delayed result or a contested result is becoming less likely, therefore there should be a large differential. There has not been much of a change. It seems to us the markets are at odds with what the online markets are telling us. To make sure i understand, what youre talking about the options, will we know november 3 or out further without regard to whether it is President Biden or President Trump . Mike that is exactly right. Markets are not thinking of you in case on who wins so much as do we know. The view we do not know who the winner is is a tough scenario for markets. People like to look at the 2000 president , definitely a risk off move. 35 days from election day until george w. Bush was deemed the winner. During that time the s p fell 5 . Bond yields went crazy. 10year treasury yield drop 60 basis points. Favor reaction during that timeframe. David i want to ask you about that. Are you seeing any indications in the option market of a bet on greater inflation . There are some people saying if joe biden were elected president the odds go up of more inflation as he borrows more and spends more and invest more. Mike there has been a lot of talk about that. If you look at inflation linked securities, they have done well the last six months. We think they have been driving tips. It has been a Strong Performance by equities. If you do a graph of 10 year breakeven inflation, which is the markets tool for pricing tifs, they track almost hand in glove. Is some of that anticipating higher inflation . I guess. It seems the more dominant factor is it has been risk on. Over toets move another political issue in washington. This is the fiscal stimulus. Are using activity that gives you a sense whether the markets are anticipating stimulus anytime soon . Mike we have seen activity not so much in the Options Market but more the direct market of rates of foreignexchange. It seems stimulus has been an important driver of those markets, and we have the view for quite some time that one more stimulus packages unlikely before the election. From our perspective at wells fargo it seems to get less likely by the day. It does still seem to drive the treasury market and foreignexchange market to what i would say is an unreasonable agreed an unreasonable degree. David talk about the foreignexchange market. In 2016 you could look at the mexican peso and it was late to the polling numbers for donald trump. The higher he went, the lower the peso went. Our using trades like that . I heard the peso is doing better whereas the ruble is doing worse . Mike i would say the pesoruble trade is interesting. Is difficult to distinguish from the Armed Conflict nearby. Take it a step back and look at the dollar in general. We think it is an interesting view the u. S. Dollar probably benefits if there is a messy result of the u. S. Election. The reason we say that is the dollar has been the safe haven currency this year. Since market has been a risk on atmosphere, so you would expect the dollar to do poorly. If the Election Results are not that clear for a wild, or if they are contested in some shape , the u. S. Dollar probably wins. It has been an interesting dynamic to look at the dollar and think in the context of various election scenarios. David does the same go for the japanese yen . Mike if you look back over the last several decades, the japanese yen has been safe haven number one, swiss franc number two, dollar number three. This year it seems to been flipped. The dollar has moved up to the top spot, but when you think about the yen, we think that is a reliable safe haven going forward. Does it change leadership in japan, doesnt matter too much . I would put the yen up highly. David very helpful. That is mike schumacher, global head of asset strategy at wells fargo. Coming up, Debbie Wasserman schultz is here on the race in florida, her home state. Power onalance of Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. We turn to Mark Crumpton for bloomberg first word news. Mark as of tomorrow, voters in all 50 states will be able to cast ballots. Mailin voting will be available in every state, while early in person voting is already available in more than half the states. More than 17 million ballots have already been cast according to the u. S. Election projects at the university of florida. That smashes previous records. Only aboute in 2016, 1. 4 Million People had already voted. Supreme Court Justice domine Amy Coney Barrett has enough support in the senate to be confirmed. That from Mitch Mcconnell today. Leader mcconnell says he expects barretts nomination to clear the Senate Judiciary committee october 22 and be on the senate floor starting friday, october 23. Leader mcconnell added we have the votes. Vice president ial nominee Kamala Harris is canceling her travel until monday after two people involved in her campaign tested positive for covid19. The Campaign Says harris was not in close contact with either person in the days before they tested positive, but her travel would be paused out of an abundance of caution. Senator harris had been scheduled to visit North Carolina into travel daily until election day. In eu von der leyen left summit today shortly after it opened, after one of her staffers tested positive for covid19. Von der leyen says she has to tested negative but left the summit to go into selfisolation as a precaution. Despite the rising infection numbers, eu numbers eu leaders still decided to vote in person, arguing video conferences were too remote to have real economic exchanges. 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 Mark Crumpton. This is bloomberg. David . David our swing state series is focused on florida this week. We welcome democratic congressman Debbie Wasserman schultz, a member of the leadership of the Democratic Party and the house of representatives. Thank you for being with us. We are looking at florida. From your Vantage Point around Broward County and miamidade county, how the election is looking . Rep. Wasserman shultz floridians are voting like gangbusters, predict lee on the democratic side we have seen a surge in vote by mail ballots like have not seen before. Cycle over cycle we normally see republicans who have voted more often by vote by mail, and democrat show up at early vote, and that is where the battle exists. We have had about one million vote by mail ballots cast already. 400,000 moree cast vote by mail ballots that republicans thus far. Weve not even started with early votes, which begins on monday. The enthusiasm, and people who are voting, every day is election day. We will not sit. We will go roaring into early vote over that two week period and finish up on election day with a win for joe biden. David theres a difference about whether people tend to be democrats or republicans. There are some parts in the panhandle that tend to be republican. You have a big enough margin in miami to overcome whatever you see in the rest of the state . Rep. Wasserman shultz i like what i am seeing in our outcomes for voter turnout with vote by mail. The huge leads in palm beach, broward, and miamidade counties we are wrapping up in democratic turnout will carry us with a very big cushion going into early vote. We have a huge push. Even though most of our activity has been virtual, we have phone banks and testing events and postcard writing and calling every single day, events where elected officials like me, ive been on zoom calls and people and even socially distance events in person. We are feeling good, particularly in south florida. We are divided into three states, almost. North florida, which typically votes more red, Central Florida the true battleground, and in south florida we have a democratic base. Making sure we turn out with a big enough surge in south florida to carry and balance out some of these more red areas of the state, that is always critical and we are looking good. We are not sitting. Substantialda has a hispanic or latino population. There has been speculation biden does not do as well with that population as other democratic candidates. What are you seeing in terms of his ability to appeal to those voters . Rep. Wasserman shultz i think vice President Bidens visit to the state as well as senator harris visit to the state, especially over last month or so, you have seen the numbers shift in our direction. This is a president who has presided over a health care disaster, and it is disproportionately people of nothingfected, to say about the disrespect and violent nature with which this president has treated the Hispanic Community and latinos all of the country, and even talked about their countries of origins countries, the backlash from the Hispanic Community will be significant. The number one issue for hispanics in this state and across the Nations Health care. Theek after the election, Donald Trump Administration is trying to get the Affordable Care act tossed out as unconstitutional, and that will take Health Care Away from 20 Million People. Hispanics care about that and will vote to elect joe biden because they want to make sure they will preserve their health care they know he will. David you talk about hispanics and other people of color being disproportionately affected by covid19. It is also true of seniors. You have a substantial population of seniors in florida. What is the situation there . In 2016 President Trump did pretty well with seniors. Rep. Wasserman shultz at the moment, and it has been trending this way, the Joe Biden Harris ticket is ahead with seniors in florida. We have not seen that in previous election cycles. Seniors ahead because believe donald trump has been grossly irresponsible, and cavalier about his lack of concern for getting the virus under control, making sure we have a robust testing, Contract Tracing and isolation program. In florida it was revealed by my hometown paper the state is using the rosies picture of data for reporting, so it looks like we are less than 5 , but if you use the Gold StandardJohns Hopkins wave reporting, we are at over 11 . Our numbers are going in the wrong direction. 141 more deaths. We have been among the top spot come in seniors have a huge percentage of the cases. They are responding with their vote in their support for joe biden because they know he is going to get a handle on this virus, treated seriously, and not just discard it as a hoax and be as cavalier as donald trump has been cured david has been. David for those of us old enough to have been around in 2000, it is burned in our memory, what is going on in south florida. We might not have hanging chad but there are other contests about the absentee ballots. Our things fixed, are you confident we will not have a lot of contest put into doubt the outcome of florida . Rep. Wasserman shultz i am confident. We have had, since that debacle, i was elected to the state senate that year, i lived through it, we have had for about 20 years no excuse vote by mail ballots. That is something we are accustomed to doing. Thankfully we have many more opportunities for people to safely drop off their ballots at early voting sites. You do not have to save your. Ote by mail ballot in the mail there are bins at each early voting site. We are making sure people sign their ballots, they understand the instructions, they have an opportunity to secure their ballots on most websites they can track the status of their ballot. I feel really good that on Election Night, the advice we are giving our constituents and our voters is go out and vote for joe biden and Kamala Harris, make their win significantly. Our votes come in starting at 7 00 on Election Night because you have to get your vote by mail ballot in by then. Make it easy, lets have an early night. Joe biden wins florida, donald trump cant become president again without the votes from florida. Lets all go to bed early when the votes from florida report a big win from joe biden. David finally, there is also other business pending for congress, the fiscal stimulus bill. We hear up and down and back and forth. What you think the prospects are of getting something done before the election, and if something were to be done, who would benefit . Rep. Wasserman shultz if something were to be done, and it does need to be done, it will benefit the people who are struggling economically. We had more unemployment numbers going in the wrong direction reported this morning, particularly hit hard in florida. We have tourism and leisure based economy, and that part of the economy has been decimated. We need to pass a bill so we can make sure we provide more Small Business relief, more direct payments to people, make sure we provide the on employment relief, and state and local health. Republicans have refused to come to the table and worked out a reasonable compromise that covers the breadth of the needs of our country to wrestle this virus to the ground. We will have a deal when they take this seriously. Otherwise we are just going to be picking low hanging fruit and dealing with it in a political way, which is unacceptable. David thank you so much for being with us. That is congresswoman Debbie Wasserman schultz, democrat of florida. Coming up later we will get a different perspective with republican congressman neal dunn. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. It has been a big week for bank earnings. Scarlet Morgan Stanley the last of the big banks to report thirdquarter results and it got a lift from its trading desk thanks to increased volatility in the markets. Morgan stanley has combined fixed income currency income and commodities and equity trading revenue rose 20 following near 30 increases in goldman and 30 increases at j. P. Morgan. Only bank of america failed to post doubledigit percentage growth in trading, mainly because it did not take on as much risk as its peers. These trading gains hope to offset the negative impact from provisioning for bad loans, as well as low Interest Rates. The same three berms, Morgan Stanley, Goldman Sachs, and jp morgan, posted positive thirdquarter growth. Morgan stanley can also count on revenue from its Wealth Management group. We talk a lot about how there is this case shaped recovery death shapedsh this k recovery. The same as playing out in the banking sector. According to ken leon, Morgan Stanley, goldman, and to some extent of jp morgan are on the right side of the world, they benefit from wealth creation. Banks more dependent on commercial and Consumer Lending face low rates, new steepness in the yield curve, and challenges with loan losses. What these guys need, what citibank, wells fargo, bank of america need is volume. That is driven by loan activity and that is hard to get a read on over the next 12 months. Your to date, wells fargo is the hardest hit because of legacy issues like those fake accounts. Rom years ago as a result yeartodate market cap has seen a drop of 133 billion and you can see Morgan Stanley, Goldman Sachs, j. P. Morgan, Morgan Stanley and Goldman Sachs holding up better. We go get back to that theme again. David thanks so much. Coming up we will talk about the imf, they are saying we need more stimulus. Bloomberg Senior Editor for economic Stephanie Flanders is here to talk about the state of the Global Economy and how much we can take on. Ons is balance of power Bloomberg Television and radio. So youre a Small Business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. David this is balance of power on Bloomberg Television and radio. Im david westin. For bloomberg first word news, we go to Mark Crumpton. Mark the head of the World Health OrganizationsEurope Office says the exponential surge of coronavirus cases across the continent has warranted the restrictive measures being taken across the continent. He called the steps absolutely necessary and said more drastic measures may be needed to contain the pandemic. He warned relaxing measures could lead to a fivefold increase in deaths by january. A long time republican senator is acknowledging that President Trump may lose next month election. South carolinas Lindsey Graham predicted in september that mr. Trump would be reelected, but at a Senate Hearing today he said that joe biden has a good chance of taking the white house. Chairman graham himself is in a tough reelection battle. His opponent Jamie Harrison has grown support in south carolina. In california, a heat wave is bringing another round of extreme wildfire danger. Temperatures have been hitting triple digits in many parts of the state. Forecasters say strong winds could spark new places in a region that already has seen some of the worst wildfires in state history. Power has been cut to tens of thousands of homes and businesses, and others are being urged to conserve energy. In thailand, thousands of antigovernment protest staged a rally for a second day in the capital of bangkok. Demonstrators defied a state of emergency declared by the Prime Minister to quiet escalating demonstrations. Protesters are calling for the resignation of the Prime Minister, a former army chief, who faced a coup in 2014. They also want the thailand constitution rewritten. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. David thank you. The imf has been holding its annual meetings this week and its managing director called on fiscal authorities to keep up the support for the Global Economy, even as she recognize that down the road we will have to think about the deficits we are running up. We welcome now Stephanie Flanders, our executive editor for economics. That we need more stimulus in the u. S. , but what she was saying is we need this for the Global Economy. Why do we continue to need this kind of fiscal help . Stephanie we should say the International Monetary fund is not historically a great source of fiscal stimulus, booster of fiscal stimulus. You might remember even in the last financial crisis, after supporting fiscal action to help the economy for the first year or two, they were among those who said we are in favor of austerity in the eurozone and elsewhere. To have the head of the imf say if anything the danger is too little rather than too much, even as she unveiled a significant rise in debt stocks and borrowing across the world, it was quite a thing to behold. Of course, she is reflecting the reality which is that economies are not out of the danger zone. Certainly in europe, you feel like you are going back into a very risky period with curfews being introduced across france, tighter restrictions across parts of the u. K. The impact on the economy could be profound. You cannot turn off the support yet. David we are all concerned about the uptick, surge, the number of cases in europe and here in the u. S. As well. Left thate time, the letty of it are going down, not as many people are hospitalized or die young. Interesting, was that was what was happening in the summer and there was a certain amount of complacency about the rising rates toward the end of the summer, because they did not seem to be accompanied by hospitalization rates. It is true that in the u. S. We at treatingh better recently a highprofile case but you are starting to see across europe older people starting to get covid again, and that is filling up hospitals. The idea that this will be an easier thing the second time wishfuls, i think, thinking, although we have a better handle on how to treat it. David as you say, we are hearing from the imf, the federal reserve, the president of the ecb, that this is not the time to worry about the debt or deficit. When is that time . Stephanie when we know we have reached the end of the recession and we can see the light in terms of a post covid world. In challenge particularly the u. S. , where you are having real difficulty in getting stimulus passed, you dont want to have a policy induced doubledip in the economy, even as you are still fighting the pandemic. The first round of fiscal stimulus all over the world, certainly in the u. S. , was remarkably efficient about filling that whole in the economy. We reckon more than 100 of the damage, the sheer income damage from covid in the first wave was addressed by that massive fiscal stimulus package. But if you have nothing for this second wave, you can see why jay powell and others would be very concerned, and why european governments would not want to reverse course yet. Agree ill economists that we need to continue and increase fiscal stimulus. At the same time, are we putting up a time where there have to be adjustments made to the economy . Im talking about repurchasing people and industries. You have a wonderful podcast where you talk about the jobs. Are we supporting jobs that will maybe go away . Stephanie if i can boost for a moment, this week, we had a wonderful guest from spain addressing exactly that point. Which jobs are gone forever, and which could come back. There is a shipbuilding industry there that has not come back. Workers from there have gone on to, for example, working in airline engineering. Now they are facing the possibility of longterm redundancy, asking themselves, is the Airline Business going to go the way of shipbuilding . Even the changes that we think are going to be permanent people wanting to work home from more, people traveling to work time, in a few years will we be laughing at those prediction that the world would change . What governments should not be doing now is forcing businesses to prejudge what their future Business Model will be. That probably means giving more support, even if some of it ends up being in jobs that will not last. David that is interesting because that reads against some of the debate in the u. S. , about whether it should be targeted or broadbased. We hear from the Trump Administration that it should be targeted, pick the industries to support. You say that may be a mistake. It goes goes into industrial policy. Stephanie i sympathize with all of the finance ministers around the world trying to figure out how to do this. We have seen in the u. S. The very broad programs have had funds,about misuse of partsing to deserving of the economy. But the more you target, the more you are maybe prejudging the future of what the economy will be. If you have a decent social safety net to begin with, good level of trust between governments and citizens, it is easier to make these choices. That is what we are seeing some countries in europe do. In part, they have ways of dealing with these difficult challenges. David often what is happening in the u. S. And europe as well, there is a separation between wall street and main street. People investing in assets, equities, debt are doing well, when people on the street are not doing well. That creates political stress in the u. S. Do you see any version of that in europe . Stephanie certainly in the u. K. We see that. Annot think of a recession recessions are always unequal in their impacts. Certain industries are affected. Usually people at the bottom of the income scale do worse than those at the top. I cannot think of a recession where you had a historic decline in gdp other terrible hardship or a chunk of the population, and another large chunk at the top of the income scale has not only done ok but very well. We saw a recently, trillions of dollars increased in the net worth of the upper 10 of u. S. Households in the Second Quarter of this year because of that dramatic return of the stock market. U. K. And parts of europe have had similar not as extreme but a similar understanding that this has been very unequal in its impact not only in terms of age group but financials. That could feed into how we fix hole. Fiscal if we see tax rises, maybe it should be for those who did much better than everybody else in this difficult year. David thank you so much. Always a treat to have you with us. Stephanie flanders, Senior Executive editor and head of bloomberg economics. Coming up, jobless claims here in the United States moved back up last week, even as continuing claims fell. Douglas holtzeakin is here to tell us about what the numbers are telling us, and what should be done about it. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Claims surprisingly moved up last week to just under 900,000, while continuing claims fell more than expected. Asglas holtzeakin served the director of the congressional budget office, and we welcome him now. What do you make of the jobless numbers, should we make anything of them . Douglas you should not over interpret any single number. Weekly data can be quite noisy, but as this has progressed, i have placed less and less weight on initial claims and more on the continuing claims. Who canwe have changed apply for benefits so dramatically, because we have overwhelmed,tems those claims dont reflect things that have happened in the past week. Yet reflect people trying again to be recognized as claimants and reflect the people of those selfemployed, contractors, and we dont have any historical benchmarks of how they play out during a Business Cycle recovery. They are high, no way around it. Half of the people that lost their jobs earlier this year are back at work, and we know that. But in terms of progress, seeing those continuing claims go down, which means we are creating jobs, which is essential, is a good thing. It keeps me on the basic trajectory that we are on. A quick bump back, and then a steady climb out. I didnt expect to be back at full employment in 2020, and those who did were really kidding themselves about the capacity of the economy to come back fast and the realistic progression in addressing the coronavirus, which will always have regional spikes. That is the world we are in. David continuing claims are coming down faster than expected. About a million at this point. Are we going to get back to that without the vaccine . What are the prospects of getting a vaccine and getting people to take it . Need thei think we vaccine, no question about that. The alternatives is an enormous testing,n daily rapid not for the stage of your covid19 case, but whether you are infectious or not. That would allow us to get up positive,and if it is stay home, if it is negative, go to work, whatever. Lesslow covid19 to be a frightening disease by having a set of therapeutics to address it quickly. But i dont think we are going to get that relatively quickly. It doesnt look like it. We are going to get vaccines. The administrations operation warp speed is a success from a scientific perspective. By the middle of 2021 we will have three or so widely available vaccines for covid19. They may work better or worse for different populations, ages, but they will have been developed in record time, subjected to the same and higher levels of scrutiny as other vaccines, and will provide some protection to the population. And i want to say, i really have a great deal of faith in that. I know there has been discussion about political pressure on the fda. I think the administration has far from bathed themselves in glory in terms of vaccine development, but it is a terrific scientific accomplishment. But convincing people of that is the key. Lls that showed two thirds were ready to take the vaccine, and now it is half. If people dont take a vaccine, it does not mean anything. David talking about stimulus, it doesnt sound like we will get it soon, but most people think that sooner or later we will get it. Is that good enough . Douglas i think it is not. The economic part of this crisis started when high income individuals stopped Consuming Services that involve personal contact. There is nothing about sending checks to households, bumping up ui that fixes that problem. The only thing that fixes that problem is fixing the virus. David david thank you for being here, douglas holtzeakin. Coming up, we will hear from the other end of the state of florida. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Meeting for its annual meeting this week, and the managing director Kristalina Georgieva says we need more fiscal stimulus, more rather than less. No worries about debt levels for now. Are not for now, the biggest worry is we dont do enough to support the economy and until we have a durable exit from the health crisis. With Interest Rates being at record lows, governments can borrow and inject, hopefully, not only a recovery, but a more potent, higher productivitybased growth so they can repay the debt they are acquiring now. Not the casever, for low Income Countries already in debt stress. That is why it is so important that we make sure they are provided with relief and are supported with grants and concessions in financing, a big theme for our annual meetings. What is the biggest risk to your outlook right now . You see the recovery will be uneven but you have increased your projections. The situation today is less dire than a couple of months ago, but dire nonetheless. We are projecting minus 4. 4 . , the big problem we face is we are not out of the woods of the pandemic yet. Until that happens, until we have this durable exit, we have to be concerned whether there is sufficient support for firms and workers, so we dont keep a wall of massive bankruptcies and increases in unemployment. Shortterm, this is my biggest worry. Longerterm, we are very what this crisis is bringing. There are sectors of the economy that are severely impacted. Low skilled workers, women, young people, they are hit hardest. How we make sure that we expand dramatically as a result of this crisis with the Digital Economy and those that can work doing really well, and the rest of the economy doing poorly. David we want to continue our key look at the swing state of florida with congressman neal dunn. He is a u. S. Army veteran and a surgeon was elected to the house four years ago. Thank you for your patience. I know we had some technical difficulties. Give us your sense from the panhandle, a different part from miami. How is this race looking . Neal a very conservative swath of the state here. Typically, republicans win here in north florida. Favorable. Is very our farmers are suffering, unfortunately. Not so much from the pandemic but the weather. We have had so much rain, a lot have not been able to be harvested. Although we have soybeans, it is tough to get them out of the mud, delivered. Of the quarantine on top Hurricane Michael from a couple of years ago, its been a rough season. Locustsust missing some and pestilence down there. [laughter] talk about what your voters are focusing on, what is the number one issue . Neal they will be voting on the economy. Everyone wants to see the economy come back. We were doing well this time last year but now we are struggling nationwide. Globally we are struggling with the economy. That is number one. Obviously, people are upset about the virus. I think i have some good news on that. You mentioned earlier, i spent a lot of time with operation warp speed. I think there is good news coming out of that. Not only vaccines but therapeutics. This week, they are reviewing three legacy drugs that show great promise as true antivirals. They are legacy drugs that we understand the safety of, the profile, therapeutic profile of them, because they are used for other things. I think we will get some really that soon. On obviously, we also need to focus on who news to be quarantined, those at risk, the elderly, the immune compromised. David talk about the seniors. We have seen some reports where you have a fairly substantial senior population that people may be turning against President Trump because they dont like the way he handled covid19. Are you seeing that in your district . Neal not at all. Virus,ey talk about the they teach us in medical school to tamp down panic and not panic. When i was in the army, i treated a lot of epidemic diseases that broke out, specifically in refugee camps, cholera, things like that. Panic does not serve anybody. I think we are getting a lot better at treating. You watch the mortality rate dropping precipitously in the last few months as doctors have gotten a better handle on how to treat it. David an unfair question. Are we going to have an answer about who won in florida late night november 3 . Neal i think florida will be an exceptionally good state in that sense. We have the supervisors of elections under control. We have had a longstanding absentee system, so we know how to process those things. Florida will be a shining spot on november 3. Not so sure about other states. We have seen some really sad result in the primary, in new york, new jersey, other places. David thank you so much for your patience. Congressman neal dunn, republican of florida. Coming up, we will continue on bloomberg radio. This is balance of power on Bloomberg Television and radio. Mark im Mark Crumpton with bloomberg first word news. We received word earlier today harris, democratic Vice President ial nominee, some members of her Campaign Staff tested positive for coronavirus. Part of her schedule is being canceled. More on that in just a few moments. President trump will be on nbc tonight. As biden will be on abc, they hold separate bundling town halls. One of the highest ranking black executives on wall street will run for mayor of new york city. The citigroup vice chairman Raymond Maguire is stepping down to enter the race. The primary is eight months away. Business leaders in the city have been looking for someone favorable to their community. New restrictions are being imposed in london in an attempt to stop the rise of coronavirus cases. Londoners will be banned from mixing with other households indoors. Rules start this weekend. London will soon hit an average of 100 coronavirus