Senate republican tax bill are improving. Alaska senator Lisa Murkowski has agreed to kill obamacares individual mandate. She has not yet endorsed the tax bill but said she preferred not to mix it with health care. That is welcome news to our next guest, Grover Norquist, the president of americans for tax reform. He joins us from washington. Happy turkey day. Grover it is a big day for tax reform. Kevin let me ask you about whether or not individuals in the middle class are going to get a tax break, when they fill out their taxes in january. Grover they are going to be better off and i suggest you look at three different buckets. What is your income this year and next year aftertax . Most people will see a tax reduction in their cash flow. The second bucket is what happens to your assets . If you have a 401 k , if you own stocks. When we take the corporate rate, that increases the aftertax cash flow. Kevin we have already seen them going up. What is the third one . Grover the third is
Pick up led light bulbs. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. This is bloomberg. Julia live from bloomberg World Headquarters in new york, im julia chatterley. Scarlet im scarlet fu. Joe im joe weisenthal. Equity is little changed in the dollar adds to its losses. Joe the question is, whatd you miss . Borish, we have peter the quite group chief strategist the quad group chief strategist joining us. Murkowskiator lisa has agreed to kill the obamacare individual mandate. What does that do enough to pass the measure . Issue guaranteed yes vote . And retailers pull out all the stops in an effort to survive. Friday will be a make or break day for struggling brick and mortar chains. We have breaking news. Broadcom is said to be considering a higher bid for qualcomm, according to reuters. This is just days after qualcomm rival broadcoms takeover bid. Make thee deal could Worlds Largest chipmaker. The original bid was valued at
Could hurt economic progress. There was also some discussion of alternative framework on the committee. This is important because president John Williams of San Francisco has been pushing for consideration a price level targeting or an alternate inflation regime as the fed deals with zero lower bound policies Going Forward. There is some note they might drop Balance Sheet language in future statements. Much,t thank you so reporting from the federal reserve. Joining us with more insight on austan policy is goolsbee, a hazard economics at the university of Chicago Business school. A former chairman of the u. S. Council of economic advisers under president obama. Great to speak with you again. You heard from jeanna about the highlights from the fed minutes. Nearterm rate hikes in december has warranted. They have reaffirmed the view a gradual approach to increasing the target range is likely to the dualbjectives, mandate of maximum employment and controlled inflation. Price stability that
Can todays sales smash records . Have a look at what is happening to european equities. Gmm is your function. Talking you through all the various asset classes. Those other currencies that are falling against the dollar. Sovereign bond yields are rising. That is the situation. So many things to tell you about. Lets start with a south african rand. The rand rallied, today amid relief from last weeks assessment by Credit Rating companies. A did not deliver the deathblow that some anticipated. This is dollar rand. Earlier today, the rand is rising. The dollar is declining. The fall has been unwound, today. The rand is rallying by 2 . A bit of a move. Moodysratings warned it may do the same, leading to a rewaiting reweighting. This is a chart that abigail showed earlier. It twice on bloomberg markets, because that coin is showing no signs of slowing down, blowing past 9,000, less than a week after shopping 8,000, quickly closing in that 10,000 figure. This does not show you the price, just
Abigail we looking at the end of november. We are at major averages and we are looking at mixed trading action when we had been looking at games for all three major averages. Putting in a set of alltime highs, but behind this choppiness is the fact that we are looking at small declines from s p 500 and the nasdaq. A report from Tokyo Broadcasting System saying the japanese government received a signal that is same as north koreas preparation for a Ballistic Missile launch. A little bit of a risk off tone to that message. Not sending stocks spiraling down, but we will be tracking the story. We are coming toward the end of the month of november. For the dollar, we might be looking at the first monthly decline for the month of november in a decade. Down nearly 2 on the month, on pace for a source month since july. Not clear whats behind it. Perhaps with the change at the head of the fed and that how will b how will will be more dovish than expected. Lets take a look at the commodity compl