Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Amy Morris. Here are the
Speaker 2: stories we're following today.
Speaker 3: Amy, we begin with breaking developments in the war in
Speaker 3: the Middle East. The US has now conducted military strikes,
Speaker 3: and we get more from Bloomberg's Rosalind mathieson.
Speaker 4: The US has struck two targets, they say inside Syria.
Speaker 4: They say they were aiming at Iran's Islamic Revolutionary Guard
Speaker 4: and basically a warning again to some of these proxy
Speaker 4: groups that are operating in the region potential on behalf
Speaker 4: of Iran, because what we've seen is an escalation the
Speaker 4: pattern of attacks or targeting of US military assets in
Speaker 4: the region.
Speaker 3: Bloomberg's Rosalind Mathison says Defense Secretary Lloyd Austin is characterized
Speaker 3: in the US strikes as separate and distinct from the
Speaker 3: Israel Hamas war.
Speaker 2: And Nathan the strikes come as Iran's born minister warned
Speaker 2: the US won't be spared if the war between Israel
Speaker 2: and Hamas spreads. Born Minister Hossain Amir abdo Lahi and
Speaker 2: delivered the threat in a speech to the United Nations
Speaker 2: General Assembly.
Speaker 5: We do not welcome to expansion of the war in
Speaker 5: the region, but are you all If the genocide in
Speaker 5: Gasse continues, they will not be spared from this fire.
Speaker 2: The comments by Iran's foreign minister comes as Israel says
Speaker 2: it sent troops on a limited raid into Gaza for
Speaker 2: the second straight night.
Speaker 3: Now amy to the latest on the deadly mass shooting
Speaker 3: in Maine, an intense search continues for Robert Card, the
Speaker 3: forty year old Army reservist accused of killing eighteen people
Speaker 3: inside a bowling alley and bar in the city of Lewiston.
Speaker 3: The city's mayor, Carl Shalen, is telling people to stay
Speaker 3: off the streets.
Speaker 6: This is the time for action, solidarity and support. Please
Speaker 6: take note the shelter and place order issued by the
Speaker 6: Lewiston Police Department remains in effect. Please stay at home
Speaker 6: and be safe.
Speaker 3: Lewiston Mayor Carl Shalen says much of the focus has
Speaker 3: been one of cards relatives' homes in the rural town
Speaker 3: of Boden f Behind. Other agents surrounded the property, ordering
Speaker 3: anyone in Scientist surrender after several hours, though state police
Speaker 3: said it was not clear if anyone had been there.
Speaker 2: The newly anointed Speaker of the House is commenting about
Speaker 2: the latest deadly shooting. Mike Johnson does not think it's
Speaker 2: a gun problem the end.
Speaker 7: Of the day, it's the problem is the human heart.
Speaker 7: It's not guns, not the weapons. At the end of
Speaker 7: the day, we have to protect the right of the
Speaker 7: citizens to protect themselves and that's the Second Amendment and
Speaker 7: that's why our party sends show strongly for that.
Speaker 2: Speaker Johnson made the comments in an interview with Fox's
Speaker 2: Sean Hennity and said that now is not the time
Speaker 2: for new gun laws.
Speaker 3: I Meanwhile, Amy the House passed its first major piece
Speaker 3: of legislation since Johnson became Speaker, and it flies in
Speaker 3: the face of President Biden's emphasis on energy efficiency. Bloomberg
Speaker 3: zed Baxter has the story.
Speaker 8: It cuts into the Inflation Reduction Act, which incentivized homeowners
Speaker 8: to switch to more energy efficient appliances, and into money
Speaker 8: that helps stage craft more stringent building energy codes. The
Speaker 8: effect of this which strip billions of dollars put aside
Speaker 8: for consumer rebates. Speaker Mike Johnson in the past has
Speaker 8: criticized the spending on climate and clean energy measures as
Speaker 8: green energy slush funds. It's not expected to pass the
Speaker 8: Senate or get a Biden's signature ad Baxter Bloomberg Radio, Thank.
Speaker 2: You ed Now. An update on the trial of Sam
Speaker 2: Bankman Freed. The FDx founder, spent almost three hours trying
Speaker 2: to convince a judge to allow him to testify to
Speaker 2: a jury about the role lawyers played in the collapse
Speaker 2: of the crypto exchange. Bloomberg's Bob van Vories is covering
Speaker 2: the case in Lower Manhattan.
Speaker 9: He spent the entire afternoon on the spand but he
Speaker 9: was previewing testimony that he wants to give relating to
Speaker 9: advice that he got from lawyers. So Judge Kaplan is
Speaker 9: listened to the testimony. It's going to rule in the morning.
Speaker 9: What the jury gets to hear. They got sent home
Speaker 9: after lunch.
Speaker 2: Bloomberg's Bob van Voris says, Bank and Freed's team is
Speaker 2: trying to show many of the transactions are the subject
Speaker 2: of criminal charges conducted in the full view of lawyers.
Speaker 3: Turning to markets, Amy Watch and shares of Amazon, they
Speaker 3: are hired by more than five percent in early trading.
Speaker 3: The company gave investors a lot of what they wanted
Speaker 3: this earning season, robust sales and profit growth, along with
Speaker 3: a hint that the cloud division earnings machine is regaining momentum.
Speaker 3: Matthew Bloxham is a tech analyst for Bloomberg Intelligence.
Speaker 10: They are the leader in cloud, so there's a huge
Speaker 10: number of corporates who already use them for cloud, and
Speaker 10: those corporates are all scrambling to get into the genes
Speaker 10: of AI space, so they're kind of looking to train
Speaker 10: models and use them in applications.
Speaker 3: Bloomberg Intelligence, as Matt Bloxham says, cloud unit sales increase
Speaker 3: twelve percent. More than twenty three billion dollars.
Speaker 2: Shares of Intel also on the move, up nearly eight percent.
Speaker 2: The chip maker is predicting a return to sales growth
Speaker 2: in the fourth quarter. Intel says it's being fueled by
Speaker 2: an improving personal computer market and a more competitive product line.
Speaker 3: Turning to the economy, Amy Janet Yellen says the surgeon
Speaker 3: treasury yields is tied to the strength of the economy
Speaker 3: rather than the widening fiscal deficit. We spoke with the
Speaker 3: Treasury Secretary in Washington.
Speaker 11: We're seeing yields go up in most advanced countries. Part
Speaker 11: of the increase in yields, I think is simply a
Speaker 11: reflection of the strength of the economy the notion that
Speaker 11: interest rates will be higher for longer.
Speaker 3: Secretary Yellen says the trends that had produced low levels
Speaker 3: for yields before the pandemic are still there. For the
Speaker 3: full conversation, head to our Bloomberg Talks podcast feed find
Speaker 3: it wherever you get your podcasts. And right now we
Speaker 3: find the tenure treasury yield at four point eight six percent,
Speaker 3: the two years at five point zero four, and futures
Speaker 3: are surging. This morning, this is Bloomberg Time now to
Speaker 3: take a look at some of the other stories making
Speaker 3: news in New York and around the world. For that,
Speaker 3: I'm joined by Bloomberg's Michael Barr.
Speaker 12: Good morning, Michael, Good morning, Nathan. Representative George Santos's scheduled
Speaker 12: to be a rain this morning on more charges filed
Speaker 12: earlier this month. According to prosecutor, Santos allegedly stole identities
Speaker 12: and made purchases on the credit cards of his donors. Meanwhile,
Speaker 12: there is a push from New York Republicans to expel
Speaker 12: Santos from Congress. Representative Anthony Desposito says Santos is not
Speaker 12: fit to serve as constituents. As a United States representative.
Speaker 13: People have seen over the last ten months what a
Speaker 13: fraud he is. I mean, you know, you read either indictment,
Speaker 13: there's a clear outline that lays out the fabrications, the lies,
Speaker 13: the manipulation of donors and others that he has committed
Speaker 13: over the last year or longer.
Speaker 12: Audio courtesy of Forbes. D Esposito's resolution would need two
Speaker 12: thirds of the House to expel the Long Island Congressman. Meanwhile, Santos,
Speaker 12: who says he will not step down, responded on social
Speaker 12: media saying that he is entitled to due process and
Speaker 12: not a predetermined outcome as some are seeking. The NYPD
Speaker 12: is on high alerts in case the suspected main mass
Speaker 12: shooter tries to enter the tri state area. While there
Speaker 12: is no evidence that suspect Robert Card is coming to
Speaker 12: New York, it comes at a time when already counter
Speaker 12: terrorism officers are on the streets because of the crisis
Speaker 12: in the Middle East, and MYPD Commissioner Rebecca Winer, we
Speaker 12: don't see.
Speaker 14: Any neccess to New York City with this incident, tragic
Speaker 14: as it was, but we've been saying this a lot
Speaker 14: over the last couple of weeks, and we always do
Speaker 14: we urge all New Yorkers to continue to go about
Speaker 14: your business, but to remain alert to your surroundings.
Speaker 12: Commissioner Winer join Mayor Eric Adams at a news conference
Speaker 12: to discuss safety in the city. Amid the active search
Speaker 12: for card There will be more than one hundred car
Speaker 12: free streets to keep trick or treaters safe in New
Speaker 12: York City this Halloween. The Trick or Streets Initiative is
Speaker 12: being expanded to give access to pedestrians for safe spaces
Speaker 12: across the five boroughs. The initiative that kicked off October
Speaker 12: fourteenth at fifteen locations, where we expanded starting tomorrow, Global
Speaker 12: news twenty four hours a day and whenever you want
Speaker 12: it with Bloomberg News Now. I'm Michael Barr.
Speaker 3: This is Bloomberg Natha Tricker Streets. That's a great idea.
Speaker 3: Thank you, Michael. Now great news because we do bring
Speaker 3: you news throughout the day here on Bloomberg Radio. But
Speaker 3: now you can get the latest news on demand whenever
Speaker 3: you want it. Subscribe to Bloomberg News Now to get
Speaker 3: the latest headlines at the click of a button. Get
Speaker 3: informed on your schedule, Listen and subscribe to Bloomberg News
Speaker 3: now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify,
Speaker 3: and anywhere else you get your podcasts. Time now for
Speaker 3: the Bloomberg Sports Update, brought to you by tri State Outy.
Speaker 3: Good morning, John stash Hour, Good morning. Eighth in this.
Speaker 15: World series with two unlikely teams begins tonight. Both Arizona
Speaker 15: and Texas lost over one hundred games just two years ago.
Speaker 15: Both snuck into the postseason as a wild card, but
Speaker 15: are nine and three allthough.
Speaker 12: The Rangers are one and three at home eight no
Speaker 12: on the road. Ain't arly.
Speaker 15: They start Nathan Evaldi, who's four and oh in the postseason.
Speaker 15: The Diamondbacks start Zach Gallon. The Bills are four and oh.
Speaker 15: In Buffalo, they never trailed, beat the Bucks twenty four
Speaker 15: to eighteen. Josh Allen threw for two touchdowns ran for another.
Speaker 15: The Jets and Giants first played each other in nineteen
Speaker 15: seventy Sunday's game only the fifteenth regular season meeting ever.
Speaker 15: Giants lead the series eight to six. Jets have won
Speaker 15: the last two. Last Giants win was twenty eleven. They
Speaker 15: won the Super Bowl that year. Here's Jets coach Rob Sala.
Speaker 16: I'm excited about You said it's once every four years.
Speaker 16: Maybe there's a crossover now at the seventeenth game. But
Speaker 16: you know, I think it's really cool for the fans.
Speaker 16: I think it's great for sports talk radio and all
Speaker 16: the different newspaper outlets and all that. But you know,
Speaker 16: it's a championship opportunity. You know, a lot of respect
Speaker 16: for them. They've got a tremendous history.
Speaker 15: Of Salla's backup running back is veteran Dalvin Cook plays
Speaker 15: behind Breeze Hall. Cook says he's frustrated being the backup,
Speaker 15: might want a trade before next week's deadline. A five
Speaker 15: game road trip for the Rangers. They won the first
Speaker 15: three and of a lot only two goals the shutout
Speaker 15: for Jonathan Quick and Edmonton. Rangers won three nothing. Islanders
Speaker 15: beat Atawa three two. Damian Lillard's first game for the
Speaker 15: Bucks in Milwaukee port in thirty nine points and a
Speaker 15: one point win over the Sixers. The Lakers, bree Phoenix
Speaker 15: Nixon Nets began with losses at home. They're on the
Speaker 15: road tonight, Nicks in Atlanta. Nets are in Dallas. They'll
Speaker 15: face the X next.
Speaker 3: Tyler RD Johns, Dashawl Bloomberg Sports Nathan. All right, John, Thanks.
Speaker 3: Bloomberg Sports is brought to you by Audi. Don't let
Speaker 3: someone else drive off in the Audi model you've always wanted.
Speaker 3: Visit your local Tri state AUDI dealer to get behind
Speaker 3: the wheel of yours today, or visit audioffers dot com
Speaker 3: for more information. A debrief on the Israel Hamas War. Next,
Speaker 3: we're gonna check in with Bloomberg's Israel Bureau chief Ethan
Speaker 3: Brunner in Tel Aviv, from.
Speaker 12: Coast to coast, from New York to San Francisco, Boston
Speaker 12: to Washington, DC, nationwide on Syrias XAM, the Bloomberg Business
Speaker 12: app in Bloomberg dot com.
Speaker 3: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. The
Speaker 3: world is watching for the next phase in the Israel
Speaker 3: Hamas War. Israel has carried out ground rates in Gaza
Speaker 3: for a second straight night, and now the US is
Speaker 3: targeting are striking targets in Syria that it says have
Speaker 3: been used by Iran and its proxy groups for the
Speaker 3: latest We are joined by Bloomberg's Israel Bureau chief Ethan
Speaker 3: Bronner in Tel Aviv. Ethan, good morning. What more can
Speaker 3: we say now about this latest military activity, not just
Speaker 3: by Israel but now apparently the United States.
Speaker 17: Yes, well, I mean, what we can say is that
Speaker 17: these are a small piece of evidence of the risk
Speaker 17: of a spreading conflict, of the fact that Iranian proxies
Speaker 17: around the region, not just Hamas in Gaza, are at work,
Speaker 17: and that a combined force of Israel in the United
Speaker 17: States seeking to sort of keep them in their place,
Speaker 17: as it were, as opposed to letting it get truly
Speaker 17: out of hand. The Americans have absolutely heightened their military
Speaker 17: profile in the region. The Eisenhower is on the way
Speaker 17: to the Eastern metag should be here by Monday. There's
Speaker 17: a whole bunch of Patriot missiles, a whole bunch of
Speaker 17: troops as well, and Israel is trying to decide what
Speaker 17: it's going to do in Gaza. I think it's become
Speaker 17: an increasingly anguished decision because of those two hundred plus hostages,
Speaker 17: because of the concern that victory is hard to define,
Speaker 17: and because even though people are humiliated and furious about
Speaker 17: what happened in October seventh, the question of how many
Speaker 17: casualties Israel truly wants to take in this far from clear.
Speaker 3: And to that point, Ethan there has to be some
Speaker 3: thinking on the Israeli part about how to continue to
Speaker 3: keep Allied support given how fierce the response has been
Speaker 3: on the Israeli side following that October seventh attack by Hamas.
Speaker 17: Look, I think that's true, I mean absolutely. I wrote
Speaker 17: a story a couple of days ago about the sense
Speaker 17: that Israel has that it is increasingly alone in its
Speaker 17: view of the legitimacy of what it's doing. It's not
Speaker 17: alone alone, and that the United States has been a
Speaker 17: standing shoulder or shoulder with it. The Europeans have come
Speaker 17: through and have said, we feel your pain, we understand,
Speaker 17: we agree AMAS is a terrible organization needs to be dismantled.
Speaker 17: But what does that really mean? And at what cost?
Speaker 17: And what about these seven thousand dead people in Gaza?
Speaker 17: And I think even the United States feels a way,
Speaker 17: and even people in Israel to some extent are beginning
Speaker 17: to ask what does it mean to do? What is
Speaker 17: the right thing to do? And I don't think they've
Speaker 17: figured it out. There is a sense here that unless
Speaker 17: AMAS is ultimately dismantled, that that life here will not
Speaker 17: be tolerable, that people will not stay, people not live
Speaker 17: along the border, and that is not something that's acceptable.
Speaker 17: But what does it mean on what time and what
Speaker 17: time frame Israel needs to do this, I think is
Speaker 17: the key. In addition to the concern that Hisbella and
Speaker 17: other Iranian back groups could enter the frame and.
Speaker 3: At the same time, Ethan, we've heard from Israel that
Speaker 3: the strikes that have been carried out have continued to
Speaker 3: take out HUMAS leadership. I think one of the latest
Speaker 3: reports was that a deputy director of HUMAS has been
Speaker 3: killed in one of the latest strikes. Is there a
Speaker 3: sense that taking out the leadership is achieving some of
Speaker 3: the objectives that Israel is setting out here?
Speaker 17: Well, I mean, I don't know that we're there yet.
Speaker 17: That's absolutely Israel's contention. And they've set up, in fact,
Speaker 17: within the security system a kind of a squad that's
Speaker 17: going to take it upon itself over the next year
Speaker 17: or two or three to take guys out who've led HUMAS,
Speaker 17: whether they're in Gaza or in Katar, or in Lebanon
Speaker 17: or in Turkey. There's a kind of assassination squad that's
Speaker 17: been set up, and they're also going after them inside.
Speaker 17: Does it make a difference, It must make a difference,
Speaker 17: But you know, they're spread around. There are a lot
Speaker 17: of them, and it's very hard to the impression one
Speaker 17: gets at the moment is that it's sort of middle
Speaker 17: management that they've been able to get, not the top guys.
Speaker 17: So I don't know how big a difference it's making.
Speaker 3: Appreciate you coming back on with us, Ethan, and keeping
Speaker 3: us up to speed on all the developments that have
Speaker 3: been happening in the Israel Humas War now with these
Speaker 3: US strikes into Syria as well. Ethan Browner are Israel
Speaker 3: bureau chief for Bloomberg News, joining us this morning from
Speaker 3: Tel Aviv. And now we want to turn to a
Speaker 3: conversation with Treasury Secretary Janet Yellen. She joined Bloomberg Washington
Speaker 3: Bureau chief Peggy Collins for a wide ranging conversation after
Speaker 3: we saw a third quarter GDP in the US grow
Speaker 3: at its fastest pace in nearly two years. Secretary Yellen
Speaker 3: talked about that blowout economic figure as well as rising
Speaker 3: bond yields and geopolitical risks. Let's go to part of
Speaker 3: that discussion.
Speaker 11: Now, it's a good strong number and it shows an
Speaker 11: economy that's doing very well. Let's remember it is just
Speaker 11: one quarter's number, and I'm not expecting a growth at
Speaker 11: that pace to continue. But we do have good, solid growth.
Speaker 11: You know, probably the year will come in close to
Speaker 11: two and a half. I wouldn't be surprised if we
Speaker 11: see that we have solid job creation, a low unemployment rate,
Speaker 11: increased engagement in the labor force, inflation's coming down, and
Speaker 11: you don't really see any sign of recession here.
Speaker 18: I have to say, I've been saying.
Speaker 11: For a long time that I believed there was a
Speaker 11: path to bring inflation down in the context of a
Speaker 11: strong labor market. Frankly, it's only it's about a year
Speaker 11: ago since I believe a Bloomberg model predicted that by
Speaker 11: October of.
Speaker 18: Twenty twenty three.
Speaker 11: Now, namely that you saw at the odds of recession
Speaker 11: at one hundred percent.
Speaker 18: I don't think we have that. You know, what we
Speaker 18: have looks like.
Speaker 11: Is soft landing with very good outcomes for the US economy.
Speaker 11: So I think there's a lot to be pleased to beat.
Speaker 11: And you see good strong consumer spending. Consumers still have
Speaker 11: substantial wealth. I think it's supporting good strong spending and
Speaker 11: the economy is doing well, and I think US growth
Speaker 11: is making a contribution to stronger global outcomes as well.
Speaker 19: So I want to ask you a little bit about
Speaker 19: the rise in yields that we've seen. We've seen yield
Speaker 19: surging over the last few weeks. The ten year treasury
Speaker 19: rose above five percent earlier this week. What's your view
Speaker 19: on what is driving that surgeon yields and how much
Speaker 19: of it is connected to investors' concerns about the US deficit.
Speaker 11: Well, I don't think much of it is connected to that.
Speaker 11: This is a global phenomenon in advanced countries where seeing
Speaker 11: yields go up in most advanced countries of the world largely,
Speaker 11: I think it's a reflection of the resilience that people
Speaker 11: are seeing in the US economy, that we're not having.
Speaker 18: A recession, that consumer.
Speaker 11: Spending and demand continue to be strong, The economy is
Speaker 11: continuing continuing to show tremendous robustness, and that suggests that
Speaker 11: interest rates are likely to stay higher for longer. And
Speaker 11: so part of the increase in yields I think is
Speaker 11: simply a reflection of the strength of the economy, the
Speaker 11: notion that interest rates will be higher for longer.
Speaker 18: Now, whether or not.
Speaker 11: That's really true if we look at five or ten years,
Speaker 11: what are interest rates likely to do? Honestly, for a
Speaker 11: very long time, we've felt that interest rates over decades
Speaker 11: had been coming down real interest rates, and there were
Speaker 11: deep structural reasons for that, in part relating to demographics
Speaker 11: and those underlying trends. They're still there, they're still in force.
Speaker 11: So I think it's perfectly possible that we will see
Speaker 11: longer term yields come down, but nobody really knows for sure.
Speaker 11: But I see the higher yields as certainly importantly a
Speaker 11: reflection for stronger economy.
Speaker 19: I know you took a trip to China in big
Speaker 19: to Beijing this summer. You've been talking about how our
Speaker 19: policy should really be around de risking or diversifying rather
Speaker 19: than decoupling. But what do you think is the current
Speaker 19: status of that. Do you think the Chinese have adopted
Speaker 19: that and feel like they can trust us on that front,
Speaker 19: or do you think they still really think that we're
Speaker 19: in a competition with them first and foremost.
Speaker 11: So, I mean we've articulated a strategy. As you said,
Speaker 11: it involves de risking in some areas where we're overly
Speaker 11: dependent on China, and clean energy is a good example.
Speaker 11: We also intend to focus on national security.
Speaker 18: That's an area.
Speaker 11: That we're not willing to compromise on, and so we
Speaker 11: have We do have export controls. We continue to review
Speaker 11: them with We're working on a set of restrictions on
Speaker 11: outbound investment to China. We've discussed this with them and
Speaker 11: put out a proposal that's in the public domain. I
Speaker 11: think comments just closed on it. But our objective there
Speaker 11: is to target what we do as narrowly as possible
Speaker 11: so that it really focuses on national security, that it
Speaker 11: is not an intention in that to harm the prospects
Speaker 11: of Chinese economic development and the welfare of the Chinese people.
Speaker 19: With the Israel Hamas war happening in the Middle East,
Speaker 19: I think there's a concern by some that the war
Speaker 19: could spread or expand to broader in the region. I
Speaker 19: know that that's not your base case, but if that
Speaker 19: was to happen, could you walk us through your wrist
Speaker 19: scenario for what that might mean to the global economy.
Speaker 11: My focus is, I look now at what's happening to
Speaker 11: the Middle East. Really is the tragedy, the human tragedy
Speaker 11: that's taking place with the Israelis have suffered, and of
Speaker 11: course we're worried about casualties in Gaza as Israel.
Speaker 18: Pursues its war against Tamas.
Speaker 11: So far, I would say we've not yet seen much
Speaker 11: that has global consequences. What could happen if the war expands.
Speaker 11: Of course, there could be more meaningful consequences, but I
Speaker 11: think it's premature to speculate against about those, and I
Speaker 11: think our focus should be keeping this contained and not spreading.
Speaker 3: And that was the Secretary of the Department of the Treasury,
Speaker 3: Janet Yellen, speaking with Bloomberg's Peggy Collins from our Washington newsroom.
Speaker 3: You could hear that entire conversation on the Bloomberg Talks podcast.
Speaker 3: Download the show in all of our high profile discussions
Speaker 3: wherever you get your podcasts. Finally, amy more proof that
Speaker 3: the Taylor Swift era is alive and well. Taylor Swift's
Speaker 3: eras tours generated as much money as the economies of
Speaker 3: small countries. The movie version is ruling the box office.
Speaker 3: New recording of a nine year old album, nineteen eighty nine,
Speaker 3: just dropped at midnight tonight and is expected to be
Speaker 3: one of the hottest selling records of the year. Now
Speaker 3: Taylor Swift's net worth has catapulted her past the billion
Speaker 3: dollar mark. The calculation by Bloomberg News takes into account
Speaker 3: the following, the estimated value of Taylor Swift's music catalog
Speaker 3: and her five homes, as well as earnings from streaming deals,
Speaker 3: music sales, concert tickets, and merchandise.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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