Bloomberg Surveillance

Dave Ricks, Eli Lilly Chairman & CEO, says science will win in the fight against Covid-19. Andrew Slimmon, Morgan Stanley Investment Management Senior Portfolio Manager, warns investors to resist the urge to overreact as the U.S. election nears. Chris Watling, Longview Economics CEO, examines the trade-offs of helicopter money. Tina Fordham, Avonhurst Advisory Services Head of Global Political Strategy, discusses how Biden and Trump differ on foreign policy.

Ben Laidler, Tower Hudson Research CEO, is betting on the resilience of the consumer. Mike Swell, Goldman Sachs Asset Management Co-Head of Global Fixed Income Portfolio Management, says investors are writing off the bond market too early. Gregory Peters, PGIM Fixed Income Head of Multi-Sector and Strategy, says a blue sweep could benefit the consumer by fueling wage and economic growth. Rebecca Green, William & Mary Law School Professor, says post-election litigation is normal and can expect a contested election if one or more states have a close race.

Lawrence Kudlow, National Economic Council Director, doesn't know if a stimulus bill can be passed before the election. Afsaneh Beschloss, RockCreek Group CEO, says investments in renewable energy have been moving faster than those in oil and gas during the pandemic. Lale Topcuoglu, JOHCM Senior Fund Manager, says the U.S. will likely reach a stimulus agreement no matter which party wins the election, but the size of the package will be dependent on the victor. Pat Foye, MTA Chairman & CEO, says the MTA will be forced to make drastic draconian service cuts if they do not receive stimulus funding soon.

Mike Pyle, BlackRock Investment Institute Global Chief Investment Strategist, says the Fed will be watching the nominal yield curve carefully and will not allow a tremendous amount of steepening. Geoffrey Yu, BNY Mellon Senior Strategist, says the dollar will drive lower as China continues to grow. James Stavridis, Bloomberg Opinion Columnist, Carlyle Group Adviser & Former Supreme Allied Commander at NATO, says he would expect a return to international engagement with a Biden presidency. Jason Farley, Johns Hopkins Professor of Nursing, says children have an equal probability of spreading the virus as adults do.

Mona Mahajan, Allianz Global Investors U.S. Investment Strategist, says there will not be much more movement from market levels until eyes of inflation are seen. Kevin Giddis, Raymond James Chief Fixed Income Strategist, says interest rates are likely to move higher across the board with a blue wave. Wendy Schiller, Brown University Chair of Political Science, says mail-in ballots make for a more for a engaged public and higher voter turnout for this and later elections. David Rubenstein, Carlyle Group Co-Chairman and Co-Founder and Host of "The David Rubenstein Show: Peer-to-Peer Conversations," discusses his interview with Whole Foods Market Co-Founder and CEO John Mackey.

Joseph Stiglitz, Nobel Laureate & Columbia University Professor, says the strong stock market is almost a sign that things aren't going well in other parts of our economy. Amy Wu Silverman, RBC Capital Markets Equity Derivatives Strategist, says markets are currently under-pricing the risk of a contested election. Isaac Boltansky, Compass Point Research Managing Director for Policy Research, says there are not many tools the government can use to breakup big tech. Jonathan Golub, Credit Suisse Chief U.S. Equity Strategist, says a small business and unemployment stimulus won't be reached until after the presidential election. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, says that the science behind Covid-19 matters, despite President Trump's rhetoric denouncing it.

cJanet Yellen, Former Federal Reserve Chair, says the pandemic needs to be controlled to get the economy back on track. Seema Shah, Principal Global Chief Strategist, says the pandemic and central banks will remain stronger drivers of markets than the U.S. election. Jon Lieber, Eurasia Group U.S. Managing Director, says Joe Biden could face a real political risk if a fiscal stimulus is passed before the November election. Joshua Sharfstein, Johns Hopkins Bloomberg School of Public Health Vice Dean, says the FDA has an important role to play in the vaccine safety message.

Kathy Hochul, New York Lieutenant Governor, says New York state cannot risk its economic recovery because of hot spots with high infection rates. James Athey, Aberdeen Asset Management Investment Director, doesn't expect Fed policy to change based on the U.S. election outcome. Jeffrey Howard, UCL Associate Professor, discusses how Trump's rhetoric could have an effect on the results of the election. Chetan Ahya, Morgan Stanley Chief Economist & Global Head of Economics, says the economic data continues to support a v-shaped recovery.

Gabriela Santos, JPMorgan Asset Management Global Market Strategist, says markets are wrestling with a brand new economic cycle. Chris Kotowski, Oppenheimer & Co. Senior Analyst, examines third-quarter results from U.S. banks. Vitor Gaspar, IMF Director of Fiscal Affairs, says public investment can play a key role in boosting growth. Jared Bernstein, Center on Budget and Policy Priorities Senior Fellow and Former Chief Economist & Economic Adviser to Vice President Joe Biden, discusses what Trump’s and Biden’s competing economic agendas reveal about the economy.

Liz Ann Sonders, Charles Schwab Chief Investment Strategist, says investors should focus on balance sheet quality. Andrew Sheets, Morgan Stanley Chief Cross Asset Strategist, says the case for credit is better than other asset classes. Christian Bolu, Autonomous Research Senior Analyst, says job cuts are inevitable as the utilization of automation increases on Wall Street. Michael Feroli, JPMorgan Chief U.S. Economist, says U.S. unemployment will be elevated for several quarters to come.

Tim Adams, Institute of International Finance CEO, says there is an open door to China for U.S. financial institutions. James Sweeney, Credit Suisse Chief Economist, says "fiscal opportunism" is needed right now to help the economy recover from the crisis. Chris Harvey, Wells Fargo Securities Head of Equity Strategy, says Apple is one of the most underweight names in the institutional buy-side. Catherine Mann, Citigroup Global Chief Economist, discusses China's role in the global recovery as the IMF warns of a bumpy road ahead.

Dean Curnutt, Macro Risk Advisors Founder and CEO, examines volatility in the market ahead of the U.S. election. Robert B. Wilson, Stanford University Professor, reacts to winning the 2020 Nobel Prize in Economics for his improvements to auction theory. Betsey Stevenson, University of Michigan Economics Professor and Former Chief Economist of the U.S. Department of Labor, says the U.S. can fuel growth by harnessing the untapped potential of the labor force. Paul Donovan, UBS Global Chief Economist, says the failure to do fiscal stimulus now in the U.S. is doing real damage to the economy. Nobel Laureate Michael Spence shares insights into the award-winning work of Paul Milgrom and Robert B. Wilson, whose discoveries were recognized today with the 2020 Nobel Prize in Economics.

Ben Laidler, Tower Hudson Research CEO, expects a melt-up in the fourth quarter. John Normand, JPMorgan Head of Cross-Asset Fundamental Strategy, discusses where vulnerabilities are in the markets ahead of the U.S. election. Michael Zezas, Morgan Stanley Head of U.S. Policy Research and Municipal Strategist, examines how the election could impact infrastructure policy. Stephen Stanley, Amherst Pierpont Chief Economist, says the economy can continue to recover without more stimulus in the near-term.

Frances Donald, Manulife Investment Management Global Chief Economist and Global Head of Macroeconomic Strategy, warns of the headwinds facing the U.S. economy. Rick Davis, Bloomberg Contributor and Former McCain Campaign Manager, explains how the terms of debates are negotiated as President Trump refuses to participate in a virtual debate. Michael Moore, Bloomberg News U.S. Finance Team Leader, discusses Morgan Stanley's acquisition of Eaton Vance. Abby Joseph Cohen, Goldman Sachs Advisory Director and Senior Investment Strategist, says a blue wave in the 2020 U.S. election could benefit markets.

cRudy Giuliani, Former New York Mayor and President Trump's Personal Lawyer, says he got another negative Covid test result yesterday. Josh Wingrove, Bloomberg News White House Reporter gives an update on the 2020 campaign trail. Alicia Levine, BNY Mellon Investment Management Chief Strategist, discusses how the U.S. presidential election could impact market dynamics. Doug Kass, Seabreeze Partners President, explains why the "Biden Bump" could levitate stocks over the near term.

Representative Michael Waltz, a Republican from Florida, discusses Trump's prospects in the battleground state. Peter Tchir, Academy Securities Head of Macro Strategy, remains bearish on the dollar. Robert Doll, Nuveen Chief Equity Strategist, discusses what a Democratic sweep could mean for the markets. Carla Harris, Morgan Stanley Vice Chairman and Senior Client Advisor, shares strategies for closing the funding and opportunity gap.

Michael Cloherty, UBS Head of U.S. Rates Strategy, says there's not much of a hedge benefit from Treasuries at current levels. David Riley, BlueBay Asset Management Chief Investment Strategist, sees more upside potential in the U.S. Julie Norman, University College London Political Science Professor, says this is a vulnerable moment for the United States. Brett Ryan, Deutsche Bank Senior U.S. Economist, warns a lack of fiscal stimulus could delay the economic recovery.

This is a Bloomberg Daybreak Special Report with Nathan Hager, Amy Morris and Michael Barr.  President Trump has been admitted to the hospital to be treated for Covid-19. In this podcast, we examine the implications, he possibilities and the path ahead for the White House. Plus, the political fallout with exactly one month to until the election.

Larry Kudlow, National Economic Council Director, discusses President Trump’s Covid-19 diagnosis and the September jobs report. David Malpass, World Bank President, says masks have helped thwart the spread of Covid-19 in many parts of the world and stresses that the pandemic has been a "giant catastrophe." Dr. Peter Hotez, Baylor College of Medicine National School of Tropical Medicine Dean, discusses the risk factors President Trump faces after testing positive for Covid-19. Jeffrey Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, examines rates in the wake of the jobs report.

New Jersey Governor Phil Murphy discusses the need for more economic stimulus, the state's millionaire tax and how the state is coping with the Covid-19 pandemic. Jim O'Sullivan, TD Securities Chief U.S. Macro Strategist, warns against too much optimism in the markets. James Sweeney, Credit Suisse Chief Economist, explains the momentum shift happening in the economy. Rebecca Rockey, Cushman & Wakefield Global Head of Forecasting, discusses Covid-19's impact on the office sector.