And tom keene on Bloomberg Television, Bloomberg Radio across this nation, one day to the election, and to all of you worldwide, good morning. An incredibly busy newsweek. After the election, weve got the fed, weve got jobless claims, and a jobs report on friday. We are really focused on the election. How do you from london see it. Jonathan elevated volatility going into it, and a breakdown in correlations. For markets, i think it is really tricky right now. Typically you would expect some inverse correlation between stocks and bonds. At are not getting at the moment. Difficult is really to assess what the politics actually mean, and to put together a portfolio around it. Tom we are going to talk to an esteemed guest about that. I got to ask you about the lockdown. We heard earlier this morning the exceptionally difficult weekend Prime Minister johnson had. It is government threatened . Jonathan his government is failing on this front, and plan has failed as well. His party, that is where the rebellion will be. The support will actually come from the opposition, who will vote with him to emblem at this lockdown across england. The lockdown is likely to go through. The opposition within his own enough. Unlikely to be the hope is that you would have an efficient tracking tricks track and trace system until he vaccine. We are back to square one again. President simple, the ,oing after his Health Expert with dr. Fauci andy pandemic. That does affect this dr. Fauci and the pandemic. That does affect the election. Out over fauci coming the weekend, seeming to support joe bidens health approach. How do you construct a portfolio to shield yourself against the risk . You can see on the margins people taking risk down and trying to get some cash or dry powder, something they can spend after they have a sense of which way things are going. There was the second biggest ever weekly withdrawal from the biggest u. S. Highyield bond etfs. Nearly 3. 7 billion was withdrawn last week. Is this because people think theres going to be a rash of defaults . . Is it because they think the fed is going to step away . More likely, it is the analog to battening down the hatches and putting up some boards in manhattan. Downtown tom we welcome all of you on Bloomberg Radio and television. Part of the charm of diana amoa of jp morgan is her early work on trading desk, and as a manager of fixed income portfolio, shes a bit aware that if yield goes up price goes down. We are thrilled she could do enough this morning. I see since early august the price has declined 3 . That is a lot of coupon. How far are we from real price decline in the bond market . Diana it really depends on what we get from these elections, and then how things play out following that in terms of u. S. Policy. We had a range of 0. 5 to 1 on the u. S. Tenyear twoyear rent, looking at various scenarios 10 year to year end, looking at various scenarios. That would be a blue wave outcome. Initially we could get up to 1 , we areen the headwinds facing with covid, cases rising globally, what we are discussing with europe shutting down, i think it would be really tough. Jonathan when volatility is elevated cross asset, how much forced derisking takes place . Diana in the heart of the moment, i think it depends on what kind of portfolios people have constructed. In past political shots, you certainly did see a significant amount of derisking, either because bulls are pointing to a different outcome than what materialized. I am seeing in this particular instance quite the opposite, where the polls seem to be more consistently pointing to a specific outcome, but markets are reluctant because of the of 2016. Es i expect the amount of derisking would be significant less than what we have seen in the past. Out of kkr last week, they iid i dont remember when have seen volatility like today. There seems to believe that because rates are so low, there is no haven, and people are all the one to go to the same exit there is some sort of event that transpired. Is that a sense that you have, the basically the only head right now is having extra cash to be able to respond to something . Sh is extra ca definitely something market already seem to hold. When you look at the function of the bloomberg, a lot of cash went into money market funds. That went from about 3. 6 trillion to 4. 3 trillion dollars, but there is a significant amount of cash already sitting in the sidelines. I would say the frustration for investors who look at traditional 60 40 portfolios is that treasuries havent actually been acting as a hedge in this latest bout of weakness. If you try and understand the logic behind it, it makes sense. We would need repricing is the treasury comes to fund that in the markets, but a failure of that to materialize would impact equities. What investors need to think of is what else could act as a balance to portfolios. I am fortunate that i started my so i can markets, think of several things on e. M. That can work as potential hedges, looking at the options space in em currencies could make sense. That has actually been working really well in certain pairs. It is not that it is impossible to construct portfolios. It is just that investors need to think beyond traditional hedges. Jonathan we needed that Downside Protection last week. And ella merkel speaking in berlin, saying the following. Facing a difficult winter with the virus. Tripling in hospitalizations in intensive care. This has been the case, overwhelming the Health Care System with the concern back in spring, and unfortunately in europe, it is the concern all over again. Tom outside my walkup in manhattan, to see the tents go up as they did in february, march and april, just outside mount sinai, to me it is about hospitalization. I cited south dakota today, sioux falls with some significant issues. What is it like for in hs in the United Kingdom for nhs in the United Kingdom . Diana difficult. It jonathan difficult. It was very localized. They were hoping to have a multitiered system to deal with different regions. Now the Prime Ministers suggesting that could be summing the doesnt just overwhelm a single region, but overwhelms the country. This is about making sure that by christmas, this is not a lot worse. He was recommended by his advisors back in september to have a two week circuit breaker, a two week lockdown to prevent us from getting to where we are now. He chose not to, and here we are. The problem that many in this country have is if we are going to do another lockdown, what is the objective . Is it to get back to where we were before and actually try the track and trace system again and open up more effectively . Or are we just doing this in the hope that we have a vaccine announcement next 30 to 45 days. Tom i am going to point out the fact that these headlines in germany coming from a quantum chemist, and it seems to be a little bit of a difference in the tone from the quantum chemist versus the gentleman wharton, and Prime Minister johnson is a journalist. There is a different tone to a merkel virus headline. Jonathan very much so, but merkel and Prime Minister johnson going in the same direction at the moment. Of jp morgan investment management, thank you. Mosthas been the story of of the United Kingdom going into lockdown. I think now it is fair to say a double dipse is for the european economy. Lisa that is what a lot of economists are expecting, which is a reversal from a couple of weeks ago. The data is moving so quickly, the virus is moving so quickly, how do you game out how big of an eye had, kit these lockdowns. Ill be it is just so hard to game out, and the economist have gotten it wrong. They are following the information, not leading it. Jonathan the language of leadership, the adjustment image. You go from a situation where when asked if you would lockdown the country again, they will say no. They will say it is the last option. Then it is in front of you happening again. That is the experience of this country right now. Living experience of frankly, within mount sinai, is it is all about hospitalization. Is thereicians, that catalyst for reaction, literally bed count. Jonathan that is the pressure point. Chancellor merkel saying november can be a turning point in the virus battle. I think we all hope that is the case. Alongside tom keene and lisa abramowicz, im Jonathan Ferro. Londonup, brian klaas, university professor. We are up seven on the s p 500, we advance a little more than 1 . His is bloomberg ritika withritika the first word news, im ritika gupta. The president ial campaign is now in its final full day. Polls show Democrat Joe Biden leading President Trump nationally and in battleground states. Still, some of those estates were made extra blue close. Both candidates some of those states remain extremely close. With candidates will Campaign Today in pennsylvania. President trump suggesting he may fire dr. Anthony fauci after the election. Over the weekend, found she said over the weekend, fauci said the u. S. Is in for a world of hurt with the virus this winter. Economists said the Federal Reserve wont increase the page of asset purchases the pace of asset purchases this year or next. Most economists say it would not meaningfully boost the u. S. Economy. Fed policymakers meet wednesday and thursday. Briggs and negotiators are moving closer to breaking that impasse over one of the biggest obstacles in the trade deal. A compromise is emerging on the issue of what access boats from the eu will have two british fishing waters. The potential solution would allow britain to claim it has won back control of its seas. Theres one more sign of high demand for that recordsetting ant group ipo this week. Investors are buying shares on the Hong Kong Market at a 50 premium to the listing price. Global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. Pres. Trump we should know the result of the election on november 3, the evening of november 3. Thats the way its been, and thats the way it should be. Whats going on in this country . Pres. Trump every day is a mr. Biden every day is a new reminder of how high the stakes are, how far the other side will go to suppress the turnout, especially here in philadelphia. President trump is terrified of what will happen in pennsylvania. Jonathan President Trump and former Vice President joe biden rallying over the weekend, with just one day left as we wrap up the u. S. Election. From london and new york this morning, good morning. Alongside tom keene and lisa abramowicz, im Jonathan Ferro. Monday morning price action looks a Little Something like this. Equities with a lift, still advancing a little more than 1 on the s p 500. In foreignexchange, eurodollar unchanged. Theres that positive correlation, equities, bonds once again. Equities up, bonds up. The other way around on friday, and that spooked a lot of people. The week ahead is absolutely remarkable. The election wrapping up tomorrow. Thursday, i delayed federal decision. Friday is payrolls friday. Tom i am not sure what the fed will do. I will worried about that wednesday at 5 00 p. M. Our team today and tomorrow will try to give you as sophisticated a coverage as we can. Brian klaas is out of minnesota. He has a Cottage Industry going in the United Kingdom looking at the decline of democracy. We are thrilled he could join us this morning. You have been hugely visible and hugely articulate on the decline of democracy. Lets begin with the u. S. Can we stoxx that and resurrect democracy tomorrow . Stanch that and resurrect democracy tomorrow . Brian i think so. This has been from one side predominately. You have rhetoric coming out of the president attacking the press, trying to scapegoat minority communities, and most recently around the election, saying things like we cant trust the votes, even though there is evidence that we can, encouraging supporters to vote twice, etc. So it is a longterm rebuild we are going to need. Tom you are one of the great experts on this. You are a fabric of the northern part of our midwest. Whether we go back to William Jennings bryan, he would long, name the other names, and of course President Trump, this is populism at hand. Do you see populism extending its reach across america, or as you say, with clear and direct messaging, can it be stanched like it was with hugh we long of ey long of with hugh louisiana . Brian whats happened recently is the coronavirus has been reality. The economy has been reality for President Trump. So i think there is a turn towards people who actually understand things, how economies operate and how dependent can be best served. Lisa there are boards over the windows across cities in the United States. This is unusual the day before the election. Theres a feeling of eeriness before the storm. May 11yearold son said to me last night, are we going to be ok . Is it going to be violent . If the sense of violence overstated, or do you get the sense that the unrest in general has that ability of potentially percolating . Brian i am very worried, more than i have been about any election in my lifetime. I think the reason for that is that there is not really an exit ramp for either side here. The stakes are so high that when we wake up wednesday, or potentially much further along if we dont know the results quickly, around half the country is going to find this to be an existential threat because the hypo polarization has taken such route in the United States. I think this is a longerterm project. It is not going to get fixed, no matter the result on tuesday. I am very worried about the prospect of a contested election, especially for widespread unrest. Jonathan we talk about what has happened. Tell me whether attacking the process actually damages the process, given the record turnout we have seen so far in early voting. Been ai think there has really good response here to Voter Suppression in the sense that, in texas, they are more people voting now and have already voted and in the entirety of 2016. With that being said, theres also some really worrying signs. We had a foiled plot to kidnap the governor of michigan. We had murders at protests. We had supporters of the president trying to push a campaign bus for the Biden Campaign off the road. With trump telegraphing that he might declare victory before all the votes are counted, the risks are high. In economic terms, we talk about tail risk. There is a very large tail risk where it is still improbable that there will be widespread unrest and violence, but it is such a damaging prospect that we have to take it very seriously and do whatever we can to stop it. Jonathan i ask this in a really delicate way. It is not a loaded question. Why do you think those stores are boarded up . Who do you think is going to attack them, election morning, come wednesday . Brian i think there is going to be the potential for violence, no matter what the result is, to be honest. I think there is a series of communities that feel extremely invested in this result. I think when you have a situation in which those fans have been flamed by people in power for a very long time, the polarization is at a boiling point. So i think regardless of what happens, it is not just about who wins and who loses. It is also the rhetoric that is extremely damaging for President Trump, that we shouldnt trust the results. Months of saying the election is rigged, despite evidence to the contrary. Regardless of what the result is, there is a significant risk of unrest in american cities. Jonathan brian klaas, appreciate your time this morning. Tom keene, questioning the legitimacy of the outcome before , bothn get the outcome sides potentially could question the legitimacy of that outcome. Tom it is a process, and i must admit it is highly unusual, and may be original this time around. I would say that there is ample history in the United States of these tensions. What is different this time around is the 14 cable tv stations ive got over here on the big wall just past the camera, and also social media. It is different this time around immediacy ofe facebook and instagram that youre glued to all day. Jonathan me on instagram, not so much, 24 hours out from the election. Full coverage beginning on tiktok. I believe that is lisa, not me, doing the moves again. I will take a pass on that. [laughter] coming up tomorrow night, 7 00 p. M. New york on Bloomberg Television and Bloomberg Radio, you will find our coverage of the election still to come. You will not find me on tiktok or active on instagram. Lisa shocker. Jonathan equity futures are up this morning. Futures doing nicely. They advance this monday morning. Good morning to you all. Up 39 points on the s p 500. Global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. Good morning to you all. On bloomberg surveillance. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save hundreds on your wireless bill. Plus, get 300 off when you buy the Samsung Galaxy note20 ultra 5g. Learn more at your local xfinity store today. Jonathan from new york and london, good morning to all. Alongside tom keene and lisa abramowicz, im Jonathan Ferro live on bloomberg tv and radio. Here is the price action. An equity market with a left 35. The s p 500 we advance things are looking ok across europe and the United States relative to the hammering the equity market got last week. In the bond market, yields lower by three basis points,. 648 . Payrolls friday hijacked by the election taking place tomorrow. Far,payrolls estimate so 590,000 in our survey is the mean estimate. It would be deceleration from the 661,000 in the previous month. Looking ahead, it has been the number one risk on the horizon for many of you world wide. The prospect of a contested election, the prospect of waking up wednesday morning without a result. This is what Mohamed Elerian had to say. Mohamed if we end up with a divided government the economy wein deep doodoo because will not get the stimulus and Structural Reforms we need. Jonathan that is the issue. It is about policy and the wait to get things done. That is the difference this time around. If we get a contested election and have to wait a number of weeks, the lack of clarity, the runway towards taking off and getting stimulus will be clouded. Michael this has tom this has happened many time in our history. I think of the 1890s and onto teddy roosevelt, that took a long time. I will leave that to the historians. As Mohamed Elerian says, the policy comes in many flavors. Is one of our best thinkers on a set of outcomes forward. He has made clear we have a chance to be in the uncharted territory of many different outcomes. Is theon, which uncharted territory you are most focused on right now . Daniel there are a lot of potential terror incognito places we can go in this unprecedented election. A normlear we have seen breaking president. What i am most worried about is on january 20 there is still no clear picture as to who the president of the United States is, and both joe biden and donald trump show up by men they are legitimate president. Outcome, whicht i will call gloomy, it is january 20 and we do not know where we are, there is some form of tension and contested, what does that do to the economy . Is there a runway for this economy where it can sustain the political shop . Daniel that is the trillion dollar question. I think the implications of Something Like that are so profound that it is hard not to believe that is going to have a pretty dramatic affect on markets and economies. I hope we do not get there. I think we do have a lot of ways we can avoid the slope towards a constitutional crisis, but if we get there we will have to wait and see. Jonathan what is your view on how the market is pricing a lot of this . The narrative is all over the place. A few months back it was worry about a contested election. A few months forward it is the blue wave, then all over again, week going into the election, we Start Talking about contested again. Where is that coming from . Daniel it is because the stakes are just so high. The outcomes are so extreme on either direction. What we are seeing is a shift in the polls of a couple points here or there. What is striking about this election is how stable it has been. Joe biden has always led donald trump from six to 10 points. Those are not insignificant numbers, but compared to the 2016, thes we saw in main feature of this election is stability. Markets extrapolate from the race tightening a bit, to the race widening, and a democrat sweep or contested messy election. By the way, the fact the election will be contested is different from the election being close, messy, and chaotic. It is almost certain President Trump will contest the results. He may contest the results even if he won, as he had done in 2016. The real question is is it going to be close enough that there is a legitimate case to be made that recounting or one of these election lawsuits can actually swing the difference. Jonathan you nailed it. Let sit on the markets for a moment. We are extrapolating yesterdays price action, whatever yesterday or last weeks price action was. The pendulum swinging aggressively despite the fact polls have been staples. That screams to me no one has a clue what is going on. Wednesday morning, even if we get a result, are we going to extrapolate out the last hours price action without thinking about what any of this stuff means over the medium term . That on election day or the morning afterward, there are scenarios where we can know pretty for sure who the winner is, therefore there are certain scenarios where markets can become confident that joe biden is the winner. I think if donald trump is the winner, we may have to take longer for some of the key midwest states to come in. Vacuum, gash hate a hate a markets vacuum and knowing the results would help. There is still a looming interregnum period between november and january where it does look like joe biden wins the election, we have a lameduck president who is pretty norm breaking. We will have to wait and see what a lameduck Trump Administration would look like. Lisa so much uncertainty, not even about the election but also how markets would respond to any election outcome. For people looking for something to hang on to, is following the virus numbers the most important thing for them . I think the recent Market Reaction is probably a function not just of the election, but also worries about the third wave in the u. S. Looke same time, it does like the fatality rate of this wave, as tragic as it is, is better than in the first and second wave. There are a lot of moving parts. I think markets are desperately trying to look for something to hold onto to construct a when the simple answer is all we can do is wait. Where is the biggest asymmetry of risk . Daniel i think the biggest asymmetry is the virus can mutate in another way that is less benign. Science ofgeneral epidemiology is such that viruses do not want to kill their host, they want to keep their host alive so they can continue to replicate, which is their purpose of being, but we should remember that the 1918 spanish influenza, we had three massive waves and it was the second wave which was more dangerous and fatal than the first wave. I would not rule out the virus can mutate again in a very dangerous way and that makes what we have seen earlier only a foreshadowing of what is to come. Tom i want to go back to pure market economics. What is our gdp this quarter and into the First Quarter of next year . Daniel of course we have a very impressive looking q3 at an annualized 33. 1 . It is important not to read too much into that. We are roughly 3 or 4 below preprice levels and now comes the hard part, much of the growth in q3 is a mechanical reversal of the lockdown related contractions we had seen in q1 and q2. Now as the economy faces this third wave in the mountain states and the midwest, as we still await whether a vaccine will be ready and widely , and finally congress is stalled in providing support thefiscal vast majority of economists think is necessary. , we aren the doldrums in the stalling out period. I think growth will get much saidr from here, and as we , there are significant Downside Risks before us as well. Jonathan love catching up. Economist athief this monday. Apshot equities up. Yields lower. That correlation sticks. It is a correlation i know many of you are not comfortable with. Bonds advanced, treasury yields lower. Futures up 36. The gains fate, yield south by two basis points. Lisa mentioning the data later. Manufacturing pmi at 9 45 eastern. Ism manufacturing at 10 00 eastern. In a couple of days we will get the services pmi and the ism Services Index and i think that is worth taking a close look at your services in europe has faded quickly. Tomorrow we will see that in negative territory. Tom totally agree. Govices, goods dynamic, i back to David Rosenberg in conversation. He says the inflation worries are overdone because of this partition between services and goods. With the em heating up as Michael Shaoul talked about, maybe you do get goods inflation. Will you see it in services . Jonathan coming up, looking forward to a conversation with Jonathan Quick of the Rockefeller Foundation of this virus that sweeps europe, locking down economies once again. Alongside tom keene and lisa abramowicz, i am Jonathan Ferro. 49 minutes away. Every futures advancing 37 points. Up a little more than 1 as we start to ramp up our election coverage on bloomberg. Tomorrow at 7 00 eastern the coverage begins with david westin live on bloomberg tv and radio. Heard on Bloomberg Radio, seen on bloomberg tv, this is bloomberg surveillance. Ritika with the first word news, i am ritika gupta. President trump enters the final day of the campaign hoping for another pole defying victory. Trails joe biden nationally and in a number of battleground states. Still the numbers have been tightening in some of those races. The candidates will be campaigning today in showylvania, where polls joe biden with a slight advantage. In the u. K. , one of Boris Johnsons top ministers says a month long lockdown for england may have to be extended. Cabinet minister says a lockdown will be reviewed on december 2 and if the coronavirus data is not good, the lockdown could continue. Scientists warned the National Health service may be overwhelmed by the latest outbreak. Hedge Fund Billionaire ray dalio onnks the chinese yuan is track to becoming a reserve currency like the u. S. Dollar. He spoke to bloomberg. The you are starting to see development of Capital Markets in china open to foreign investors. You are starting to see the internationalization of the renminbi. You will see opening Capital Markets. You will see the developing of a financial center. I do not believe the remember the will be a viable reserve currency quickly, but i believe it will be much faster than anybody expects. Ritika global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. I am ritika gupta. This is bloomberg. This is political mismanagement on a grand scale. What is missing is the effective widescale testing where you test 10 for 20 of the population each week. That is the way to get rid of these lockdown s. Jonathan the outspoken Michael Oleary catching up with bloomberg earlier this morning in london. Coming up in the open, around the opening bell at 9 30, we a jp morganp with global strategist. Jp morgan cutting tech stocks to neutral, lifting banks to overweight. That is the conversation at 9 30. ,om that will be worth hearing particularly on the financial question. A lot of those dynamics, curve steepening seat in the last couple of days. Maybe that is the catalyst ive been blown above a ive been blown away by what our team has done. The guests just show up. It has been a stellar day. ,s we saw from Angela Merkel making very clear the pandemic rages in germany. Jonathan quick, not the goalie from los angeles, Jonathan Quick of the Rockefeller Foundation is definitive on this. He has written the definitive book on epidemics, the end of epidemics the looming threat to humanity. We are thrilled to get an update this morning. What have you learned about this pandemic with all you know and all your expertise . What have you learned in the last 60 days . Jonathan q. unfortunately, it is what we are relearning. We are learning lessons from 100 years ago. One of the lessons is those communities that started earlier with a wider range of common sense Public Health measures and kept them in place longer hat half the pandemic related fatalities as those cities and ,ommunities that started late that put their measures on and off and did not stick with it. Sad to say, we are seeing the same thing. We have proven that common sense Public Health measures, distancing and masks and avoiding crowded events work. That is what has bent the curve in country after country. We are in a state of pandemic fatigue and pandemic anger getting in the way of that. And i would suggest fatigue anger is typical in epidemics and pandemics. Ive mentioned albert camus the plague many times. We have seen asia react. And asiastics in korea are quite good. Why cant we as a society tilt towards their discipline and societal patterns . Jonathan q. i think you have hit it. One of the things that has been striking about this pandemic is in much the variation ional views about liberty the declaration of independence says life, liberty, and the pursuit of happiness. It does not say the pursuit of. I think we have our priority it does not say the pursuit of happiness above life. I think weve gotten our priorities mixed. The reality of the pandemic is hitting state after state, city after city. Mayors are visiting their hospitals and seeing it firsthand become believers. Governors are pulled in. It is taking a while, but i believe we are going to be able to turn the corner on this. Corner,fore we turn the is the u. S. Heading towards a similar situation europe is seeing right now . Jonathan q. in terms of lockdowns . Lisa yes. Jonathan q. i think that will be a Regional State decision, that may well be the necessary measure because we are still we beat the april and may peak, we beat the july and august peak and we are heading toward 100,000 cases a day. We will need that in places that are not able to turn the curve by themselves without those more restrictive measures. Lisa everyone is talking about the circuit breaker, the vaccine. Last week we are hearing before the vaccine gets rolled out and approved and enough people get inoculated, it will be the end of next year before life starts to look anything like how we remember. Is that your assessment as well . Jonathan q. yes. I am confident we will have a safe, effective vaccine. We have six in the running and another half dozen more globally. The results are looking promising. Im impressed with the efforts of nih and the cdc. The key thing now, the big question now is getting the majority of americans who do believe we will have an effective vaccine also having the communication and trust building they will accept the vaccine. Tom this is been wonderful. Dr. Quick, thank you for the updates. Jonathan quick, definitive on epidemics. It is a wonderful symbol of our democracy. To travel the country to garner the marginal vote. In this case it is the president of the United States on air force two. For those of you on Bloomberg Radio, it is a beautiful morning in miami. Milesbramowicz, 630 nine from fayetteville, north carolina. This is what is it is about in 2020. You get on the plane and you go. Lisa President Trump is showing Incredible Energy on the election. Five rallies in four states trying to drum up support against this pivotal election day. Itll be interesting to see turnout for this entire election. If you want to say the democratic process has been threatened, one thing is it has been edified by the number of people, the volume of people who have shown up and actually cast their votes. Tom Kevin Cirilli focused on pennsylvania, he says that is where Vice President biden is focused. It is goosebumps time, time for the gap time for the to the election. We will have coverage at 7 00 tomorrow night. Much more than that we will take our entire team and drive forward, whatever the tuesday night outcome into wednesday, and as you heard daniel anh say, very controversial, perhaps a debated inauguration the third week of january. Dow futures up 368. I will call it a stasis off of what we saw last week. As Jonathan Ferro mentioned, yields in further. In three basis points right now. The 210 spread comes in. With yensiliency 104. 64 and eurodollar surprisingly week. 1. 1641. , should note the turkish lira 8. 44. Perhaps idiosyncratic. Stay with us through the day on this very exciting monday. Election coverage tomorrow night. This is Bloomberg Radio. This is Bloomberg Television. Jonathan from new york and london, good morning, good morning. The countdown to the open starts right now. Equity futures up 35. We begin with the big issue. 24 hours to go. Candidates spending their final hours in key battleground states. President trump looking for a final surge with stops in north carolina, michigan, and pennsylvania. Joe biden narrowing his focus to two states, going all in on pennsylvania and adding a final where pollsd indicate a tight race. No republican has ever won the presidency without taking ohio. Joining us is Kevin Cirilli and kailey leinz. Kevin, lets start with you. 24 hours to go. President trump is hitting the trail hard. Kevin precisely. It is a barnstorming as he tried to make his way through all of the swing
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