Bloomberg Daybreak: July 8, 2022 - Hour 1 (Radio)

shark attack on Long Island by Michael Barr. More ahead, I'm trying to stash and sports the Yantes sixty win of the year. They beat the Red Sox in the first game played this year in Boston, an easy win for the myths. That's all straight ahead on Bloomberg Daybreak

on Bloomberg eleven. For you on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Syrius XM one nineteen and around the world on Bloomberg Radio dot Com and via the Bloomberg Business Act. Good morning, I'm Nathan Hagar and I'm Karen Moscow. U Snock Index futures are lower this morning. We're coming up to find one on Wall Street, and we checked

the markets every fifteen minutes throughout the trading day. On bloomberg SMP futures down sixteen points this morning, DAL futures down a hundred ten Nasdack futures down sixty two. The ten year treasury of five thirty seconds yield two point nine seven percent, and they yield on the two year is at three percent. Nathan al Right, careen, we begin this morning with breaking news following a violent attack in Japan. Former Prime Minister Shinzo Abe has died after being shot

during a campaign event. That's according to Japanese broadcaster NHK. We get more from Bloomberg's Jared Reedy in Tokyo. The reaction from the people here would be I think I would term that those shock. These kind of events are extremely rare for this kind of thing to happen in a country where normally, you know, the Paul Picks are quite stayed on, where there really wasn't a lot of interest and stuff that's going on sometimes absolutely extraordinary, and

of course Glenn Crime here is extremely rare. Bloomberg scared reading reports from Tokyo that the forty one year old suspect has been arrested. That man told police he wanted to kill Abe because he was frustrated with the former premier. Abe reportedly died after being shot from about ten feet away with what appeared to be a homemade firearm. Well meantime, in the UK, Nathan pressure is building on Boris Johnson

to the relinquished power sooner. His Conservative Party wants to speed up the contest to choose Johnson's successor by the end of the summer. Bloomberg's Lizzie Burden, reporting from Westminster, has more it's a wide open race at the moment. The front runners are driven by those with military experience and credentials, so the Defense Secretary Ben Wallace, the former Defense Secretary Penny Moredument, and also Tom Tooganhart who has never held a senior cabinet position but how served in

the armed forces. Of course, because of the war in Ukraine, they taking the spotlight. But we're also in the midst of a cost of living crisis here in the UK, so that lends the limelight to the former Chancellor Rishi, Sunac and Bloomberry Slezzie Burden says Boris Johnson is hoping to stay on for at least three more months. Well back here in the US, Karen relations with China are in focus, and today President Biden meets to discuss possible

reductions in US tariffs on Chinese goods. Amy Morris has details from our Bloomberg newsroom in Washington. Sources tell Bloomberg News that today's meeting revolves around whether to remove some Trump era levies on three hundred billion dollars in Chinese imports. Reducing those tariffs is seen as a potential weapon against inflation.

Treasury Secretary Tenant Yellen and Commerce Secretary Gina Ramando have said that it could help, but ending tariffs on Chinese goods won't help Americans where higher prizes hurt the most, food, fuel, and housing. Yellen, Ramando and Trade Representative Katherine Tye will not attend today's meeting in Washington. I'm Amy Morris, Bloomberg Daybreak, right, Amy, thank you. Turning to the economy now, we are less than three and a half hours away from the June

jobs report. Economists say hayroll gains will slow after the FED raised interest rates and we get more from Bloomberg's Muchael McKee, The consensus view is FED officials will be pleased by the June jobs report, Hiring slowing but still strong, unemployment essentially unchanged, and wage pressure is easy. An unfecast result would likely leave Wall Street investors reasonably satisfied as well. The question is what happens if we get an extremely

strong or extremely weak report. The central bankers have suggested a strong report won't change their plans for what will likely be another three quarter percentage point increase at the end of the month, but expect volatility of weak numbers lead investors to increase bets on recession. Michael McKee, Bloomberg Daybreak, Mike thanksful. Two of the feds most hawkish members are coming out and support a bigger rate hikes. Here's FED

Governor Christopher Waller. I'm definitely in support of doing another seventy five based point high in July, probably fifty in September, and then after that we can debate whether to go back down to FED Governor Christopher Waller made those comments at an event hosted by the National Association for Business Economics ST Louis FED President Jim Bullard's also calling for

a seventy five basis point rate hike this month. If we don't get the inflation under control, inflation expectations could become unmoored, and if that happened, then you get this long and complicated tangle like we did in the seventies. Both Bullard and Waller are voting members of the Federal Open Market Committee this year. Well. Turning to corporate news, now Nathan Shares a Twitter down more than four percent in early trading. There's more concerned that Elon must propose

acquisition of the social media company is falling apart. To get the latest from Bloomberg and Ali Bossak, who was at this week's tech conference in Sun Valley. Twitter CEO, CFO, and board chair are all here at a small meeting of elite investors. Now, there's a concern that the deal for Elon must have buy Twitter maybe in jeopardy, as he's concerned about bots and has stopped talks with a

key potential investor. According to the Washington Post. However, investors at Sun Valley also believe that Elon Musk maybe looking to renegotiate the deal, especially given that Twitter stock right has fallen so far. I'm Shinnali Bassek in Sun Valley for Bloomberg News and Bloomberg Shonali Boss and sun Valley says Muskee Slater to speak at the conference tomorrow. Shares of game Stop Karen are also following in early trading the damn nearly six percent on a key executive departure.

Let's get more on that Live from Bloomberg's Unita Young, Good morning Grenada, Good morning, Nathan. Game Stop fired at CFO Mike recooper Ro yesterday. He was one of the several Amazon employees that game Stop had recently hired in an effort to shift its focus from physical storefronts to e commerce. But Bloomberg sources say Recooperro was fired because he was not hands on enough and treated game Stop as if it were Amazon. The current chief accounting officer

will replace him. The company is attempting to turn around a business that's been hit by shifting gaming demands and a troubled market. Live in New York, I'm reneed a Young Bloomberg Daybreak, Thanks for neat to Bloomberg Daybreak, brought to you by Informatica and the cloud. Your data has the power to do the extraordinary. Managed data across any location in the cloud for accurate and actionable insights. More

at Informatica dot com. This is Bloomberg and it's now five oh seven on Wall Street, where at sixt eight degrees in Central Park we're already saying thirty minute delays in the inbound upper level of George Washington Bridge. You can thank Overnight Construction for that. More details coming up in traffic. First Michael Barr with what else is going on once you get in New York and around the world.

Good morning, Michael, Good morning. Nathan. The star witness appears before the U. S. House Committee investigating the US capital attack. It will be a private meeting, but it good set the stage for the rest of the investigation. The committee had been leaning on Pat Sapoloni the Trump White House Council to appear for weeks. A Fire Island lifeguard was bitten by a shark on Long Island, US today, possibly

the third such attack in the past week. The lifeguard was bitten near his left foot while conducting a training exercise about a hundred fifty to two hundred yards from the shoreline. He was treated and released. The Biden administration says it's still working the free w n B A star Britney Grinder, now that she's pleaded guilty to the Russian drug charges against her. Grinder told the Russian court she didn't mean to put a vapor cartridge containing drugs

in her suitcase when she flew to Russia. She could be sentenced to ten years in prison. White House Press Secretary Karene Jean Pierre says they are still trying to free her. Clearly, we cannot negotiate in public. That is not something that we're going to do, but we are

committed to making sure they all get home safely. Press Secretary Karine Jean Pierre also says they're working is hard to free American Paul Wheeland, a man who was convicted of murder in connection with the twenty nineteen shooting death of a New York City police officer, was sentenced to at least thirty years in prison. The Queen's County District Attorney says twenty eight year old Jagger Freeman planned the hold up that resulted in Detective Brian Simons deaths. The

second officer was also wounded. Former Minneapolis police officer Derek Chauvin has learned his fate and a federal plea deal for violating George Floyd's civil rights. Chauvin is already serving a lengthy sentence for killing Floyd, and he's been sentenced to a little more than twenty years in a federal prison. During sentencing hearing, Chauvin offered no apology. George Floyd's father, flon a brother, brother Felonis, spoke outside the courthouse after

the hearing. You will about here to serve and petit because that's your job title, to server petit. But I didn't see that that day. All I see was my brother taken away. All I seen with his last breath, All I see with him screaming out to my mom. Felonis Floyd. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analysts more than a hundred twenty countries.

Michael Barr, this is Bomberg. Nathan. Thanks Michael, got up to five town Ball Street time for the Bloomberg Sports Update. Good morning, John Sessha, All right, good morning Nathan and the Yankees first game this season in Boston, they get their sixty at the win of the year. They didn't even use Aaron Judge or Anthony Rizzo, both nursing minor injuries. That's fifty two home runs on the bench. But the Yanks got a third in the Grand Slam from Josh Donaldson.

Aaron Hicks followed with a solo shot. That's two guys who have not hit well this season. They both now homer and back to back games. The Yanks led five to nothing, later six to two, and they held on to win six five. The Red Sox. Raphael Devers did his party, drove in all five, hit two homers off Garrett Cole, who Deva's own as he's had six off Cole in his career, leaving the Yankee Eates wondering what he has to do against ever. Pretty it's pretty wild.

He's just been able to hit every I mean, this just hasn't been a misship, you know, like roll over one time, like line out one time. I mean, so um, you know, bus it's supposed to fail seven out of ten times in this gig. I don't know what the deal is. Hold that everyone else out got his eighth win. Clay Holmes is sixteenth, saying the Yankees are fifteen games

ahead of the Red Sox. At SENDI failed the easy one for the Mets, tend nothing over the Marlins light the Yankees production from guys who have struggled to J. D. Davis Grand Slam, Brian McCann three run Homer and Trevor Williams, who came in just one in five Pearl seven scoreless and he's load only two hits, no walks to be struck out. Seven men's semifinals today had wimbled them but only one match. Novack Jocovis takes on the South African

Cameron Norry. The much anticipated match between rap Field at All and the Ausete Nick Rios is off. The DAAL had to pull out with an abdominal injury. Women's final tomorrow. A couple of relative unknowns on Joe Burrow of Tunisia and Elena Rybakina of kazakhstand, John Stash Downward Bloomberg sports name okay, John, thank you right now. SMP futures are down twenty points, staff futures down a hundred thirty three.

NESSACS futures are lower by seventy seven points up next will get the latest from Tokyo the death former prim Shinzo Abe. Bloomberg's Karoomy Morty joins us next Bloomberg eleven three oh Weather turning probably to mostly cloudy today with highs in the upper eighties, low eighties, sunny and less humid tomorrow. It's gonna be a nice weekend right now sixty degrees in Central Park. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com and

Bloomberg Business Atland. At Bloomberg Quick Tape, He's a Bloomberg Business Flash and I'm Camra a Moscow US knock Indix futures and European equities are lower following news former Japanese Prime Minister Shenzo Abe was shot dead, and as investors await employment data to gage whether the world's largest economy

can avoid a recession. We checked the markets every fifteen minutes throughout the trading day on Bloomberg S and P futures down twenty points down, futures down a hundred thirty two, nowsday futures down eighty one the decks in Germany's down half percent. Ten year treasury up to thirty seconds held

two point nine eight percent. They yield on the two year three point one percent nine mex Screwed oil is down three quarters of a percent, down seventy six cents and a hundred one dollars ninety eight cents of barrel comes. Gold is down three tenths per cent, or four dollars ninety cents at seventeen thirty four eighty announced, the euro one point one zero against the dollar, British found one point one nine four two and the unit one thirty

five point eight five. And looking at bitcoin this morning, it's down one point one percent at twenty one thousand, three hundred sixty dollars and the Dune jobs report is at a eight thirty wall straight time as a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Munchael, Good morning, Good morning, Karen. As you mentioned, former Japanese from innister Zo Abe has died. According to n H k Abe died in a Japanese hospital.

Lefty was shot during a campaign stop. Today Cabinet officials will meet to discuss a response. The man who attacked Abe has been arrested, and of course we'll have more on this story in a few moments. In baseball, the Yankees be the bred Sox six five Mats one. Orioles also won. The Nationals lost along with the Giants. Global News twenty four hours a day on airand on Bloomberg Quicktake, powered by more than und journalists and analysts more than

a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan alright, Michael, thank you. It is five nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak as we continue following the breaking news out of Tokyo and confirmation that former Prime Minister Shenzo Ambe has died after being shot at that campaign stopped. Doctors in Tokyo say he was brought in in grave condition and was pronounced dead a little more than an

hour ago. Bloomberg's Karum Mori joins us live from outside the hospital in Tokyo where Japan's longest serving prime minister was being treated. Just shocking developments in the last few minutes here, karom Yeah, that's right. I'm actually in not a medical university hospital right outside of the building. Uh, this is where Prime Minister Abe had been camp scene in earlier in the day, where about four hours away

west from Tokyo. UH just left the press conference where the head of the hospital and the e R doctor in charge of treating Abbe was just speaking. The doctor to Kushima, who was that e ER doctor had said, UH that Prime Minister Shinzo Abe was declared dead a former prime minister. She was declared dead at five o three pm local time. He was brought into the hospital and at that time he was under cardiac arrest, so already unconscious, UM, and his heart had stopped. They're offering

their condolences. UM just adding that the bullet had unfortunately tiers to his heart. We learned earlier in the day that he campaign shows supporting the LVT. At sixty seven years old, you know, UM, he was still part of a powerful send the Japanese politics. He was leading the largest faction in ruling l v P. He was shot from the back. Again. Security was not too terribly tight, Japan being low crime rate country and gun violence being very rare here in Japan. But all of this really

taking place two days before the Upper House election. UM, that will happen on Sunday, July tenth, this weekend. Um. But again yeah, getting this confirmation now that he has unfortunately passed, who survived by his wife Kada, who we saw had walked into the hospital just hours earlier. This just has to be sending a shutter through the country, given that, as you say, a violence of really any kind, much less gun violence is so rare in Japan, and coming so close to an election day, What does this

mean politically, if not just societally in Japan? Al right, absolutely, right after the news broke of the shooting, we saw candidates actually uh cost on social media announcing that they will be stopping the campaigning activities for today given the news, But Finance Mr Suzuki had had announced the to the press a few hours ago that actually changing election plans would mean a loss for democracy. We will not lose

to the violence. So it sounds like the elections on July tempt here in Japan upper House elections still go ahead as planned. What do we know about the suspect? We understand that the suspect in the shooting has been arrested. What what further information have we learned about this person of any potential motive Yeah, that's right, Nathan. Uh. He is a nan a local. Um. It was a handmade gun that he was holding. He is a man in

his forties. We're hearing forty one or forty two years old, and he was actually a former member of Japan's Self Defense fourth Uh, so you know, he must have had some sort of training and experience. But again, the suspect, the prospective shooter, has been apprehended. He is under police custody. Uh. Local reports that he didn't try to sleave sleeve the site after he had shot former Prime Minister Shinzo Abe. But again we're learning more and more as a detail

has come out. But the the biggest news now is that Prime Ministersion, the former prime minister, has has passed. And just given the fact that he was Japan's longest serving prime minister, had had such an impact on Japanese politics in recent years, what does what does this mean in terms of the political impact the whole left behind

by the death now of Shinzo Abe. Yeah, that's right again, like I said, I mean, he was the longest serving prime minister ever in Japan's history since eighteen A. He served a total of eight years and eight months. He was still very much an icon of the l VPT even after he resigned for health reasons. Again, he is a huge member he had and a determined office in which he pursued with of course makes results a conservative agenda over during the country's economy, military and national pride.

But this is a huge hit for l VP. He still was an influential figure in the ruling party. Again, that says Bloomberg's Karoom Romy Mari with us this morning live outside the hospital in Nara, Japan. Karoomi, thank you so much for being with us again. The breaking news out of Nara, Japanese former Prime Minister Shinzo Abe has died in the hospital after being shot at a campaign event. Of course, we will be following the news and the

reaction throughout the morning. Stay with Bloomberg Radio for all the very latest. It's now on Wall Street and we have to shift gears now focus on the US economy with just about three hours until the release of the June payrolls report. Of course that's going to be very important for investors this morning. Not to mention the FED

as it moves to fight inflation. Jennifer Lee, it is absolutely unforgivable and this Prime Minister or Japanese Prime Minister Kashida says a forty one year old suspect has been arrested the Mantle police. He wanted to kill Abe because he was frustrated with the former premier. They died after being shot from about ten feet away with what appeared to be a homemade firearm. Well meantime, in the UK kare and pressure continues to build on Boris Johnson to

relinquish power. The Prime Minister's Conservative Party wants to speed up the contest to choose Johnson's successor by the end of the summer. Bloomberg's Lizzie Burton has more from Westminster. The race is already on candidates already reportedly setting up comps in hotels around here. The Conservative policy wants to winkle it down to two candidates by July twenty one and then pick one by September, but even that is too long for many to keep Boris Johnson in Nimbote.

Bloomberg's Lizzie Burden says, Boris Johnson hopes to stay on for at least three more months. We'll back here. In the US. Nathan relations which China are in focus today. President Biden needs to discuss possible redunctions in US tariff sun Chinese goods. We spoke with the National Economic Council Director Brian Dees about the move. He says, there are

other options for taking on China. Tariffs are one tool, but we have other tools as well to make sure that we are protecting key sectors of the American economy and that we are holding to account for those brands. Was a guest on Bloomberg Survey. Lence heard weekday mornings on Bloomberg Radio. And we'll hear from the administration again this morning, Karen. When we get the June jobs report,

it is expected to show a slowdown in hiring. Labor Secretary Marty Walsh joins Bloomberg Radio and Television to discuss the report that's coming up at Well. Nathan returned to Corporate News Now, and there's more talk about Twitter. Shares are down more than four percent this morning, amid concerned Elon Musk's proposed acquisition is falling apart. Bloomberg's Don need a Young joins US Live with more. Good Morning, Nita, Good morning, Karen. Elon Musk is still at odds with Twitter.

Over the number of spam bots using the service. He's repeatedly threatened to walk away from his proposed forty four billion dollar deal to take over the social media giant if they cannot confirm that bots make up less than five percent of total users. The Washington Post reports that Musk's team has concluded that Twitter cannot verify the figures and has stopped engaging in discussions around funding the deal. Live in New York, I'm gonna need a young Bloomberg daybreak,

all right, we need to thank you. And futures are lower this morning. S and P futures down seventeen points down, futures down one hundred four and NASDAG futures down seventy one. The Danks in Germany's down a quarter percent, the Cat and Pari is down about six tents of u percent, and the foot See one hundred down half percent. Ten year Treasury up three thirty seconds ye two point nine eight percent, yield on the two year three point one percent.

NIMEX screwed oils down half percent or fifty cents, and a hundred two dollars twenty three cents of barrel COMEXS goal down two tens per cent or three dollars eighty cents at seventeen thirties six. Announced the euro one point one eight against the dollar. Bitcoin this morning lower at twenty one thousand, four hundred seventy dollars, And straight to head your latest local headlines plus a check of sports,

and this is Bloomberg all right, Karen, thank you. Is five thirty three on Wall Street, wears sixteenth degrees in Central Park and Michael Barr has more on what's going on in New York end around the world. Michael, thank you very much. Nathan. There's been another shark attack on Long Island. A Fire Island lifeguard was bitten by a shark yesterday, possibly the third such attack in the past week.

The lifeguard was bitten near his left foot while conducting a training exercise about a hundred fifty two hundred yards from the shoreline. He was treated and released. Officials have issued a ban on swimming at Ocean Beach until further notice. A star witness appears today before the U. S. House Committee investigating the US capital attack. It will be a closed door deposition between the panel and Patsy Baloney, the former Trump White House Council. An excerpt could be released

at next week's January six Committee hearing. The Biden administration says it's committed to the safe return of Brittney Grinder and Paul Wheeland, who remained captive in Russia. Yesterday, the w n b A star pleaded guilty the drug charges in a Moscow area court. White House Press Secretary Karine Jean Pierre, We've been clear from day one when it comes to US nationals who are being held abroad, who are being held wrongfully, detain wrongfully, who have been held hostage.

We are going to do everything that we can use every means that we have to bring them home. Press Secretary Jean Pierre says though we cannot negotiate in public, Both founder and president of the collapse Paraos have been found guilty of fraud. Now. Bloomberg's At Baxter has the story. The conviction of former president Sunny Baldwana follows the conviction

of founder Elizabeth Holmes by six months. Paraos was a blood testing startup, and the charges were defrauding investors by using a few drops of blood to complete a wide array of health tests. Bel Wanni's attorney says they planned to consider all legal options including the possibility of an appeal. The pair was a high profile couple during the build up of the company and now face up to twenty

years in jail in San Francisco. I'm at Baxter. Bloomberg Daybreak Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael Barr, and this is Bloomberg. Nathan. Okay, Michael. Thanks on Wall Street time for the Bloomberg Sports Something with John stan all Right, Nathan. The yankees sixtieth win of the year came in their first game this season

in Boston. They beat the met Sock six to five. They got back to back home runs, third in ing from Jacks Donaldson and Aaron Hecks. Grand slam for Donaldson. Garrett Cole got the win, got everyone out except rorap L Devers, who homer off Cole in last year's playoff game homer off Cole in New York and his first half bat of this season two more. Last night. Devers drove in all five Boston runs. Cole was asked about trying to get Devers out. He said he's open to suggestions.

The Mets all over the Marlins tend nothing solid puts you from Trevor Williams, J. D. Davis and a Grand Slam James Buchana three run shot Atlanta Laws. So the Mets lead the Brave by three and a half. They Hell the NHL draft, Devil's had the second Picktic Simone, Nimics defenseman from Slovakia's Wilbaps, went one to the Rangers did not have a first rounder, but added three extra picks by trading backup goalie Alex Gorgias for the Stanley

Cup champion Colorado Avalanche. No vak Djokovic plays the semifinal match today at Wimbledon against Cameron Noriri in. The winner will face the Austin Nick Kirios in Sun Day's final curio authority in because of Raphael Nidal abdominal injury. I don't want to go out there not be competitive enough to play at this at the level that I meant to to play to to achieve my goal and with Nick chance to to make the things US. Wimbledon made

the controversial decision to not allow Russians to play. Elena Raibakina born and raised in Moscow, but plays now for AAZAC Standard. She's in tomorrow's women's final against a joberrow Tonigia john S Dashaward Bloomberg Sports all right, John, thank you seven on Wall Street time for the Tri State

Business Report with Bloomberg's head Cory. Air Men's is moving to Williamsburg Women's where Daily reports the luxury retailer has signed leases for two new locations in the trendy Brooklyn neighborhood. There will reportedly be a temporary pop up in Williamsburg in the first quarter of next year, followed by a permanent flagship in the same neighborhood. In six, Amazon and the Port Authority of New York and New Jersey of scrapped plans for a new air cargo facility at Newark

Liberty International. In one, Amazon's Cargo Airline launched plans to spend one five million dollars to transform to existing buildings at the airport, three weeks before the American Dreams super Mall is due to pay debt backed by New Jersey economic Development grants. The state has not approved a key document needed to release the money that raises the risk that bond holders will not get their cash. That's your Bloomberg Try State Business Report. I'm d Corey. Thanks that

It's five thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in with our global news team for some of the top stories heard on our three hundred affiliate radio stations around the world. On Kerald and Dallas, video game retailer game Stop virus its chief

financial officer and announces job cuts, and Gina survey. And for k CBS in San Francisco, I'm reporting that Will Spargo's investment strategy ARM says a recession is already here. On Caowline, Heap Film, blombag d A B Dishit Radio in London, we've been reporting on the racist succeed Boys Johnson as MPs picked their favorite for the toy leadership race. I did Cory on w w J and Detroit and reporting Argo the drivers start up backed by boards laid

off about one fifty workers. And those are some of the stories are twenty seven hundred Bloomberg journalists and analyst are working on this morning around the world. We're coming up to five thirty nine on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. Boris Johnson was nothing if not tenacious. In recent weeks. The UK Prime Minister had shrugged off a relentless series of setbacks and embarrassments, almost

all of his own making. The latest induced two of his most senior ministers to resign this week, prompting a cascade of further departures and a surge of demands from Conservative lawmakers that Johnson stepped down. The pressure finally worked on Thursday, Johnson announced his resignation. The tasks awaiting his successor are unenviable. The UK faces serious and mounting challenges when it comes to the economy, Europe, public services, and

industrial relations. Building consensus on these questions within the Conservative Party, let alone in the country as a whole, will be a challenge for the Prime Minister At the moment. Perhaps the only idea commanding wide support is that Boris Johnson was no longer up to the job. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg Opinion, please go to Bloomberg dot Com, Slash Opinion or O

P I n go on the Bloomberg terminal. This has been Bloomberg opinion, and you can hear Bloomberg Opinion at tutorials every weekday. At this time, terminal customers can read more at O P I n go. SMP futures right now down twelve point, staff futures down sixty four, nastack futures down fifty seven points. The latest on the assassination

of former Japanese Prime Minister Shinzo Abe. Will be speaking with Bloomberg's Lisa Do in Japan next Bloomberg eleven three oh Weather turning mostly cloudy today with highs in the upper eighties. It will be partly sunny, less humid tomorrow low eighties, mostly sunny low eighties for Sunday. Right now sixty eight in Central Park Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's a

Bloomberg Business Flash and I'm Karen Moscow. U stock index futures and European equities are lower following news former Japanese Prime Minister Shinzo a was shot to death, and as investors await employment data to gauge whether the world's largest economy can avoid a recession, the dollar found haven demand.

We checked the markets every fifteen minutes throughout the trading day on Bloomberg guess and P futures down twelve po points, down features down sixty and as DAG features down fifty seven. The decks in Germany's up about two tenths of a percent now ten Your treasury at four thirty seconds yield two point nine seven percent. The yield on the two

year three percent. Nine X crude oil is down four tenths per cent, or forty four cents at a hundred two dollars twenty six cents of barrel COMEX school down a quarter percent or four dollars fifty cents at seventeen thirty five thirty announced the euro one point one one nine against the dollar. British found one point one nine four or five. The yen is at one thirty five point eight nine, and bitcoin lower down seven tenths percent at twenty one thousand, four hundred sixty dollars. As a

Bloomberg Business flash. Now Here's Michael Barr with more on what's going on around the world, Michael Karen, thank you very much. And other news. The candlelight vigil was old last night in Highland Bark, Illinois for the seven victims of Monday shooting rampage. Funeral services for three of them are scheduled today. The I r S is taking a closer look at reports the agency subjected to former FBI

officials to unusual scrutiny. Then President Trump repeatedly attacked James Comey and Andrew McCabe over the FBI's Russia probe that shadow Trump for years. In baseball, the Yankees beat the Red Sox six five, the Mets won, the Orioles also won. The Nationals lost along with the Giants. Global News twenty four hours a day on air and on Bloomberg Quittake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael bar This

is Bloomberg. Nathan Okay, Michael, thank you for coming up to five forty nine on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. We want to get more now on our top story, the assassination of former Japanese Prime Minister Shinzo Amby the country's longest serving premier, has died after being shot at a campaign event in Japan. Were joined out live from Tokyo by Bloomberg's Lisa Do. Lisa, good morning. Just shocking news that's

reverberating globally following the passing of shinzo Abe. What more do we know about how he died? Um, Yes, High, It's been a really jarring and very tragic the last few hours here in Japan. You know, former Prime Minister shinzo Abe passing away at the age of sixty seven. I was announced actually less than an hour ago. According to the hospital that treated him. He had rived already

in very great condition. Um. He died shortly after five pm local time here at blood loss after sustaining gunshot wounds that hit his neck and chest and went through to his heart. It's extremely shocking event. He was very well known globally among leaders for being Japan's longest serving prime minister, and in Japan, where you know, gun violence is extremely rare, almost virtually non existent. A really jarring event for you know, the people to take in. Yeah,

some of the reaction we've seen from global leaders. They just seem staggered by this news. Given the fact that, as you say, gun violence, not to mention, political violence is so rare in Japan. I mean, just talk a little bit about what this means for the country. Just to be in the midst of something like this, it just must be something that people just can't explain right now. Yeah,

I think, yeah, you're right. I think, you know, July at will definitely be a day that will you know, remain be scar in Japanese, Japanese history and the Japanese people's memories. Um. You know, just to give you a sense of how restrictive, you know, gun laws arts nearly impossible to obtain a gun. Um, and they say the suspect actually shot him with a homemade device. Um. Just last year there were ten incidents of gun violence in Japan and only one resulted in someone passing away. Um,

that's just how how rare it was. And you know, in political and any violence related politics was also virtually non existent. So I think it just, um, you know, a data with events that people are really starting to still processing. Um. You know, right now, what more do we know about the suspect in this shooting. You mentioned

he apparently used a homemade gun. What more are we hearing about this person and if he was apprehended at this scene and it was a man in his forties who apparently used to work for the Japan Self Defense Forces UM and police questioning, he apparently told them that he intended to kill Abe today UM and that he was dissatisfied with Abe. UM. But it didn't be said that the dissatisfaction wasn't related to any political belief and UM,

that's as much as we know on the motive. It's not extremely clear, and we're hoping to get more on that. All right, Well, just talk a little bit as well about the legacy that Shinzo Abe leaves behind. I think the word that many of us remember from his time in office is abeynomics. I mean, it's it's really difficult, I think, to overstate just the kind of influence that Shinzo Abe had politically and economically on this on on Japan. Yes, indeed, you know, he was, like we've said, Japan as along

the serving prime minister. He really came in and added stability to a time when Japan had been going through a revolving door series of prime ministers every year, and then he stayed for eight years from twenty and like you mentioned, he was especially well known for his economic agenda alb Anomics, you know, based on a monetary easing government spending combined with structural reform um you know, at the time, really an unprecedented economic policy package um, the

effects of which we are still seeing in Japan today with the easy money and the weakness in the yet and so definitely you know that he had a lot of impact. And he's also were very well known for broken global trade deals and his attempts, although unsuccessful, to revive Japan's past at this constitution. And even though he had been god losses for two years, you know, he

still remained deeply influential within Japan's ruling party. I'm a more recently kind of pushing for increases in defense spending and being more vocal warning about China's rise and its impact on Japan. A deep hole left behind following the passing of former Japanese Prime Minister Shinzo Abe. Lisa Do joining us this morning from Tokyo. Bloomberg News correspondent Lisa, thank you for giving us the very latest. Karen, all right, Nathan, thank you. It is five a day, three on Wall

straight time for a legal story. We're watching this morning. Eight days after the Supreme Court is struck down New York century old gun law, the state's lawmakers approved a sweeping overhaul of New York's handgun the licensing rules. Then new gun legislation severely limits where guns can be carried, includes a strict permitting process for concealed carry licenses, and requires background checks to buy ammunition. The law will almost

certainly be challenged in court. For more, Bloomberg's dun Grass speaks to Andrew Willinger, the executive director of the Duke Center for Firearms Law. The legislation sets out a list of sensitive places where you can't carry conceal weapons, and it's quite extensive. Just a few things on the list are bars and restaurants serving alcohol, educational institutions, entertainment venues, playgrounds, houses of worship, libraries, subways and busses, and times square.

With that list past Supreme Court review, this is a place where I think we're likely to see litigation in the near future. The Court and Bruin doesn't undertake an extensive analysis of what places can be designated sensitive by a state government such that guns action can be banned there. So all the court says is New York can't designate the entire island of Manhattan as a sensitive place. The court's opinion says that you have to analogize to historical

places where guns were prohibited. Where I think that leaves us is that there are certain locations on this list that are completely fine, right, government buildings, polling places. You know that there's a limited set of places where we have a historical tradition of banning guns in those locations, but it's not as clear for things like mass transit, Times Square stadium, anywhere where alcohol is sold or consumed.

And I think you know, this expansive list does come relatively close to what the Court cautioned against and Bruin, which is that you can't simply say that because people congregate in a given location and law enforcement officers are available, that that is a sensitive place and guns are banned. It seems like in many respects the law is stricter

than the old law. That's right, And I think this is a really important observation about this New York law is that under the prior system that the court struck down in Bruin New York had this proper cause requirement and that mandated that an applicant show some exceptional circumstance. Right.

But at the same time, New York was granting, especially you know, outside of New York City, in more rural areas, they were granting permits to people to carry concealed weapons, and those permit holders had a pretty broad ability to carry weapons in a number of different public places. Now you have a system where it might be easier as an initial step to get the permit, but once you obtain a permit, it doesn't give you the ability to carry guns in anywhere near as many places as you

could under the prior system. So in many respects it is going to be stricter because people who have permits will be limited in where they can actually bring guns. And that's Andrew will enjoy, the executive director of the Duke Center for Firearms Loss, being at the Bloomberg Student Grosso. Catch more of that interview, plus analysis of the latest legal news, by subscribing to the Bloomberg Law Podcast or

downloading the show at Bloomberg dot com Slash Podcast. Attorneys can find exceptional legal research and business development tools at Bloomberg law dot com and on the Bloomberg terminal at b law Go. SNP futures lower down about twelve points this morning. Down futures down sixty two and NASDAG futures are down fifty eight. Ten year treasury of five thirty seconds, the yield at two point nine seven percent in the yield on the two year two point nine and nine

percent still ahead. On Bloomberg day Break, we have a check on the business headlines and all the news you need to start your day, including the latest on the assassination of former Japanese Prime Minister Shenzo Abe. And this is Bloomberg