Inflation unexpectedly slowed any third quarter. It could add to signs that the rbnz could deliver more stimulus in the coming months. Rishaad we are at the moment drifting. Lets have a look at what is going on with some other Asset Classes and benchmarks. Bloomberg dollar index pretty much unchanged after gains overnight. 10 year yield, very little going on. Still 85 basis point. Hang seng up about. 4 . Shanghai lurching slightly lower. We do have this headline. 9. 9 i posting near 10 , rise in revenues between january and september. They came in at 671 billion yuan. That is huawei coming out with numbers. But really, we are just sort of drifting, arent we . Juliette we are indeed. Lets get a check now of the first word headlines. Stimulus negotiators in washington say they are moving closer to an agreement with nancy pelosi, saying they are just about there on a relief package. The speaker says she and Steven Mnuchin are close to agreeing how to allocate funds while letting schools reopen, which is a key asset of talks. However, losey say some other key demands are still being discussed. Goldman sachs has admitted its foreignthe biggest bribery case in u. S. Enforcement history and will enter a guilty plea for the First Time Ever to resolve clothes over it. They helped spread 1. 6 billion in a listen payments by diverting cash from development products. Goldman was fined 2. 3 billion. Remdesivir has become the first drug to win formal approval to treat covid19 after it was approved for use by u. S. Regulators. Remdesivir had already been approved for emergency use and was part of the therapy President Trump used when he was hospitalized with the coronavirus. The ruling allows gilead to market the drug and sell it to medical professions. And those were the first word headlines. Faceoffthe final between donald trump joe biden ramping up in nashville. A less chaotic debate. There were still personal attacks, accusations of corruption. Also differences over the handling of the coronavirus. We are learning to live with it. We have no choice. We cannot lock ourselves up in a basement. He says we are learning to live with it. People are learning to die with it. You also said a vaccine would be coming within weeks . Is that a guarantee . No, but it will be by the end of the year. Anyone who is responsible for not taking control, in fact, not saying i take no responsibility initially, anyone who is responsible for that many deaths should not remain as president of the United States of america. If you look at what has happened to new york, it is a ghost town. It is a ghost town. And when you talk about plexiglas, these are restaurants that are dying. We should be able to walk and chew gum at the same time. We should be able to safely open. But we need resources to open. Lets bring in the former u. S. Undersecretary of commerce for International Trade as well as former ambassador to singapore. He joins us from singapore. Thank you for joining us. Who won . And dont put your republican hat on, please. Frank no, i hope im being objective. I thought it was more or less a tie in the sense that if you walked in supporting a candidate, you left supporting that candidate. I do not think it moved numbers or opinion. Both gentlemen did fine. They were both reasonably substantive, we did not have any outrageous behavior. They mostly kept to the issues. No interruptions. They both acquitted themselves well. But in context, a tie is good news for joe biden because he went this eight or 10 points up, and my guess is he is coming out of it with almost the same lead. So trump broke even with a guy that will not help him close the gap. Rishaad certainly was more muted and sanguine. Ny punches which landed from either of these contenders . Frank i did not hear any surprise comments or surprise moves, and i do not know if there only there will be much staying power. The one statement which i think stood out was biden had to explain his views on fracking and the oil industry more than once, and that might be an issue in pennsylvania, which is a heavily frackingdependent state. He said he is not going to ban franking and he said he was never for banning fracking. Then later in the state he said he was going to ban fracking on federal lands, and later he said we have to transition from the oil industry to Carbon Neutral energy production. Which isnt necessarily inconsistent, but it leaves him open for want of greater clarification on those points. Rishaad so how do we go from here . Where do we go from here in the next two weeks . Frank i got to tell you, this is the last national event. This is the last time that both candidates are together, the last time that everybody has a national audience, and that you really have the chance to move the numbers. So i think the last 10 days now, these last 10 days are some of the candidates, the Vice President of candidates, the spouses, just going to those last eight or 10 states that are battleground states for their events. So there will not be any opportunity for something to dramatically move the numbers. One candidate could move up a point or two, that would not surprise me. What game theory tells me is that if joe biden is in the lead, which he is, that means joe biden needs to play a cautious game these last 10 days. If donald trump is behind, that means he is going to be more aggressive, which is his personality anyhow. We might see that gap close a point or two in the next 10 days, but i have a hard time seeing trump make up an eight or 10 point deficit. Juliette you have to remember that the polls were wrong in 2016. What struck me from this debate is a lot of the big numbers that were pushed through. Have suggested already some calls from both sides may not have been accurate, particularly looking at what trump was saying about bidens personal finances and his son, than also about the saving of lives for coronavirus. Do you think these facts, if they are incorrect, does that matter to some of these swing voters . Frank i think at this point would 10 days to go, these misstatements are by and large discounted by the supporters. I think the trump base remains intact. I dont think anyone honestly believes he saved 2 million lives, but his base is probably reassured by that statement. And i think what it means is that trump have trouble reaching undecided voters if he is making overstatements. You gave two examples. His most egregious overstatement was he was the best president for black americans since abraham lincoln, which is quite a reach, in my mind. But there might be some people who find it true. But there is not a sliver of accuracy to it. An overstatement to say hes the best in 160 years. Juliette he also said biden had eight years in the white house to do all the things he said he is going to do if he wins. Is that something that could put him ahead in terms of getting some support from biden people who are undecided about biden . Frank i think he did make an effort these 90 minutes to take the shine off of joe biden, to impugn biden personally, or make allegations about corruption or family issues. And also to attack biden functionally, to say hes do nothing. I do not know what ultimate impact that has, because a Vice President really, he can only do what the president wants them to do. The Vice President does not have an independent political identity or agenda. Its not a fair hit to say why didnt you get this done when you are Vice President. Nonetheless, i think trumps base will warm to that and it will not go any further than that. Rishaad of course we do not have any bipartisanship really at the moment, and certainly back on capitol hill, weve got this row over the fiscal stimulus package. Frank, even if they agree to a stimulus deal, it has to go to the senate and there are quite a few fiscal republican hawks there, gutted by Ronald Reagans thats quip a few years ago the nine most terrifying words in the english language are, quote, i am from the government and i am to help. And many people are shaped by that. Juliette you are right frank you are right. I think there is cynicism now about this being a good faith effort. Are both sides appearing to try to do a rescue package, but its not going to get through. Democrats might be of a mind to say if things look as good as they are, why even fight for this . Because in 10 days they will be a new political situation and in january, they can get a more generous package if that is what they want to do. We heard a lot, from the president is well talking about the fact that the virus came from china. We want to get more of your thoughts on the relationship with u. S. And china. Frank is staying with us. We are going to discuss these increasingly tense relationships between washington and beijing. And later this hour, city private back telling us how it is preparing clients to key market risks. We will talk elections, stimulus, and covid19. This is bloomberg. I would make china play by the international rules, not like he has done. He has caused the deficit with china to go up. China is paying billions and billions of dollars. Ourst gave 28 billion to farmers. The president of candidates clashing over china during the debate. Lets turn our attention now to tensions with beijing which is a major issue in the president ial election. Former u. S. Undersecretary of commerce, International Trade is still with us. Quite a few times we heard the president once again say this virus came from china, increasing or inflaming the tensions. What happens next, particularly can we see this relationship change . Frank there are some fundamental issues between the u. S. And china that will not improve singly simply because the occupant in the white house might change. Ever, i do think the chain the tone would change with a biden presidency because by nature, he is not pugnacious and not looking to just throw punches for domestic political audiences. So i think you have a more traditional process oriented diplomacy underway if biden were president. Justtte we also have not the concerns over washington and beijing but increasing tensions and deteriorations in their lake with othertions countries. Concern that we start to see the International Trade partners change significantly . Frank i think there is a good reason for concern because we have just seen considerable deterioration and stability in the asiapacific region over the last few years. China has had a border clash with india and a series of quarrels with australia. It has had other disputes and arguments in the region. I think unfortunately the moment seems to be dominated by small picture decisionmaking where people are looking at a reasonably narrow set of issues and trying to wrangle for advantage. I wish someone in beijing and washington took ownership for big picture stabilities. Have itcompanies behooves everyone to have a working relationship. By the way, historically over the last 50 years, the relationships have been generally stable with increasing elements of positivity to them. And only the last four years has really deteriorated. Juliette what about from chinas side . They are about to hear their fiveyear plan. Do they need all these International Partners as much as perhaps he would argue that they need china . Frank but i would say this to china. Regardless of what they need, i think they want to go with as little friction as possible. If small gestures or fixing problems can ameliorate some of these issues, it is in their interest to do it. Xi jinping has said that chinas tariffs are higher than most other developed countries, which is true, and he wanted to reduce those tariffs. If biden wins, you can reduce some tariffs, you can release the two canadians you picked up, you can support taiwans membership in the w. H. O. There are a number of substantive steps you can take that would a lot of people have a higher opinion of you and make it easier for other countries to find a way to work with you. Rishaad frank, ok. Moved theonald trump dial to attacking china from the getgo of his presidency. This is also ultimately become a bipartisan issue. You can argue some democrats are even more hawkish. But a biden presidency would certainly take a more multilateral approach rather than this single approach donald trump has been taking. Are you sure that would be a better thing . Frank you are absolutely right, trump started right in on the trade issues and tariffs. In my view, that was a mistake. Bad for the u. S. To impose those tariffs. China responded with their own tariffs. The u. S. Could have done much the same not by raising tariffs with china but lowering tariffs with other trading partners. It still would have made chinese goods more expensive but it would not have her the u. S. Economy. That would be a multilateral approach, the tpp. And biden might well bring it back. It was an initiative under the obama administration, so biden has some heritage to that. Lets see if he brings it back. Rishaad you have been in this part of the world for years. You have also had businesses and dealt with china. How would you characterize things right now for americans doing business in china and vice versa from your standpoint, and indeed, looking at your business, export, now . Frank let me tell you, this is really curious, and some people are incredulous when i make this piont point. China is the single best point in the world for u. S. Consumer goods. Apparel, food products. China consumers are hungry for those premium goods, the same great goods americans like. Nike, levis, disney, jack daniels. None of this political friction, this ill will, has affected the underlining success. Cocacola is going to have its best year ever in china. Procter gamble, best year ever in china this year. It is a great market for u. S. Goods. Rishaad frank, always a pleasure. Thank you so much for joining us. Next, it is time for morning calls. A look at some top analyst recommendations. This time they are all related to the American Election and prospects of stimulus. This is bloomberg. S is bloomberg. Juliette time for morning calls. Analysts have been looking at how the u. S. Elections will play out on the market. Heres what President Trump had to say about what a biden win would do to equities. He said the stock market will boom if im elected. If he is elected, the stock market will crash. Let me go to the next question. Juliette Bloomberg Markets reporter katie lyons joins us from new york with the latest. It was a much more sanguine debate this time. What are you watching . It absolutely was. Of course markets watching the debate closely. I want to bring you a call from morgan stanley. They recommended buying stocks if they plunge on any kind of election fears. He believes there is a good chance markets could drop before the election and he things investors have grown complacent about the risks of a drawn out legal battle between President Trump and joe biden. He argues no matter who win the election, more economic stimulus is almost certain, and that should drive stocks higher. Wilson also predicted the september market pullback. Our second call comes from barclays, saying about that woody could fall to prepandemic levels if there is a clearcut biden victory, even if stocks he says the vix will likely fall to 20 if a democratic contender is confirmed shortly after the vote. Vix futures govern the postelection period trading around 29. The third one we have is from multiasset growth at schroeders. He is betting on clean energy as a biden win would mean a bigger push for more sustainable investment. He things biden would reverse some changes made by President Trump regarding offshore drilling, and make what he calls a meaningful impact on u. S. Environmental policy. With about the debate . There was not really much for investors to get their teeth into, but were there any Key Takeaways for you . What the markets really want know isis this did did this change the status quo . The market had largely priced a biden victory, and to a large extent, a blue wave. They do not think that narrative has meaningfully changed after this debate. But they did highlight a number of key issues. The china issue as well as health care and the Affordable Care act. Then of course as relates to the virus, the handling of the pandemic. President trump making some news right at the start of the debate, saying a vaccine should be ready within weeks. He later clarified, saying it would at least come before the end of the year. We also have to think about virusrelated stimulus. The chance of that coming before the election, all important to the election. Trump pointed the finger at nancy pelosi, saying she is the reason it has not gotten done, saying she does not want to approve any deal because you thinks not doing so will help democrats in the election on november 3. Rishaad all right. Thank you for that. Lets have a look at some of the latest business flash headlines. Huawei quarterly revenue expending more slowly than last quarter. U. S. Restrictions taking a toll. Sales climbing just under 4 compared to the 23 gain the for the the previous quarter. Stockpiling vast amounts of critical memory ships chips in the rollout of 5g. Lookingfintech leader to raise more than 2. 3 billion with an ipo in the u. S. Thening what may be one of biggest chinese listings in new york this year against the backdrop of worsening relations between washington and beijing. The company has explored a listing for years at the top of its price range it will be valued at about 33 billion. China markets as we head towards their lunch break, taking a look at the shanghai csi 300. Up. 2 . A weakness for the shenzhen composite. Chinext down by. 5 . The market breadth is pretty wide at the moment. This is bloomberg. His is bloomberg. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Ruth 9 00 in the morning rishaad 9 00 in the morning in mumbai. Markets not particular hard, looking like a flat side, the nifty pointing to a slight gain, essentially following the pattern weve got and the rest of this part of the world, stocks generally drifting. Lots of earnings to be looking at with regards to india. India out oftle the nifty out with their numbers. Lets have a look as we look at the first word headlines. Stimulus negotiated in washington says they are moving closer to in agreement, nancy pelosi saying they are just about there, the speaker saying she and treasury secretary mnuchin are close to agreeing how to allocate funds for letting schools reopen, a key aspect of their talks. Nancy pelosi says some other key demands are still being discussed. The Philippines Central Bank since threats to the economy remain although the negative impact of covid19 not likely peaked in the first quarter. The worst of the pandemic was felt in july and august, expecting a recovery to be gradual and tentative while imports remain subdued. They dont see it improving before the latter half of next year. U. K. Is boosting help from businesses as job losses mount, raising contributions to raise wages and lowering the amount of hours qualified for support. The government and political leaders are accusing him of belittling the virus pandemic, barring new restrictions. Sri lankas president is regaining powers after the governor won a vote. That means authority will be concentrated in the presidency at the expense of the Prime Minister. Critics say that potentially threatens Judicial Independence and the legislative process. Modis cut through the credit score to junk. If he issue now, there let alerton now, airlines on after the erosion in a volcano eruption of a volcano. Watching smoke 10,000 smoke and ash 10,000 meters into the sky. The volcano also erupted last year. And those were the first word headlines. Are seeing a slight tick up in u. S. Futures and asian stocks starting to turn around after a flat start. It was a much more sanguine president ial debate and asian stocks on track for a weekly gain of. 7 . That will reverse those losses. Seeing a bit of weakness in the offshore yuan. It touched highs this week. Big moves in stock markets, hearing from nikkei that they construction their those interested in acquiring shares here. Also a big move coming in sydney and we are seeing a jump in shares in sydney to morgan stanley, saying it is the best out of the base for recovery. Nissan has replaced family mart in the nikkei 225 in a move analysts said were surprising, this as the company and the stock will be added to japans blue should gauge october between nine. Lets october 29. Lets bring in camping. Ken ping. Great to have you with us. The debate was a much more sanguine debate. As we start to look at modelings , i do have a chart you can see, but for our viewers, showing this yield curve steepening with the improvement of bidens odds here. Is this what you would expect we would see more fiscal stimulus if there is a democratic blue sweep and therefore you are going to see this tick up coming through . Is it as easy as that . Ken part of the reason we have higher yields and steeper curbs is also progress on the steeper curves is also on the medical front. Or whether we have a bigger stimulus package important,u. S. Is but less influential, particularly for markets outside of the u. S. So, the stamens package, the gaps between the two parties is pretty small, so i think market is comfortable that one way or another, they are going to get something. So i think thats becoming less of a marginal issue, whereas when we get the medical solutions is probably more important. Absolutely. So many whatifs ifs and the fact we are not quite were we without we would be. Worry looking at in terms of a rotation of sectors here . Ken i think the cyclical sectors and equities are what we strongly. G more when you have travel and leisure on the back foot without reopening, you are not going to any recovery or revenue in a real sense. I think you can look at where china has been the amount of google isndex from showing that china is back to about 90 of capacity. A lot of people are moving around, particularly in shanghai, where we have a few months of zero local cases. We have those conditions in place. You can have people leaving their homes and traveling more. So, i think the rest of the world is going to follow those footsteps and well expect that to take place sometime next year. That will be positive for cyclical equities. I think in terms of geography, europe, japan, and South East Asia are going to be on the forefront of that. Juliette i wanted to ask you what specific countries youre looking at outside of china because it is a different story when you look at asia versus how china has been dealing with the virus. Ken certainly, yeah. I think outside of china, were looking particularly at japan and Southeast Asia. And the reason for that is were seeing a significant rebound in trade. So, em asian exports in september is growing at about 9 and over three q has been steadily rising and that has been a strong leading indicator for earnings for places like to pan and Southeast Asia, which are exposed to trade. China has a large tech contingent, so that made earnings for china more resilient. For these other markets, thats not there. There is going to be higher data, more reactive to recovery trends. A lot of people have been saying inflation will remain benign, but theres been a growing body suggesting we could see inflation return in 2021 and 2022. But where would it come from . Thats the point. Ken right, where would it come from . Some of that information can come from oil. If we have Oil Demand Going back to 95 of normal, and then you have reduction in shale outputs if biden takes the presidency, then you could see oil prices at 50 rather than 40, right . Thats going to feed through to gasoline and thats going to be ok. Energy inflation, its meaningful, but its not going to be a game changer. The other source of potential inflation, i think, is with demand. But i think compared to where we were back in 2019, it will still take a long time to fully get back there. So, i dont think demand driven inflation is going to be that big of a deal. If its just energy driven, i dont think Central Banks are going to get all that nervous about it. Rishaad ken, tell me something. Youve been looking at the dollar, the dollar weakness of late must figure into the way you make your investment. Thats one part of my question. The second is, do you sort of build in dollar weakness for a while now . And is it cyclical or is it something which is related to whats going on in the election cycle . Ook, i think theres both shortterm and longterm influences here. The u. S. Dollar is in a structural weakness trend. Because off that is what the fed has done. What the fed has done, basically made the u. S. Dollar a funding currency. Previously, that was euro and the yen. People borrow the currency and dollar assets. Thats no longer the case. Youre losing a fundamental driver for dollar upside and a fundamental driver for downside for euro and yen. Andthats a big sea change thats not going to really go away whether trump or bidens president. So, i think were probably just halfway through in terms of dollar bear market. Typically when you have these dollar bear markets, the first two years is when you have the sharpest moves. Were when youre through that and we still probably have more that one year through and we still probably have more to go. However, its still a risky trade. If there is a contested election or trump somehow wins, thats going to push people to unwind some of the positioning to short the dollar. I think that could cause a temporary bump up in dollar, and that would be a Good Opportunity to sell that. Rishaad ken, great having you on the program. Ken peng there. Up next, chinas leadership, the course to push for selfreliance for the next five years. Well have a preview of next week and what to expect in the new five year plan. This is bloomberg. Youre watching bloomberg. Rishaad we are back with Bloomberg Markets. Chinas top policymakers me in beijing to hammer out the countrys future economic blueprint, focusing on the framework for chinas 14th fiveyear plan. Its also going to have targets of the next 15 years. Lets get a sense of what markets are watching with em strategist simon flint. Should we expect anything interesting to come out of this or has been flagged already . Simon it should be pretty interesting. A couple of things could be positive, for example. First of all, its the chance for chinas planners to emphasize they have a really strong vision for technological leadership, supplyside reform. And secondly, there could be an emphasis on growing financial domestic markets as opposed to relying purely on bank lending. Books are very bloated. Both of those factors can attract more foreign capital. That can be quite positive. Juliette lets talk about the yuan because a chinese official said the recent strength is supported by supply and demand. Does that mean we dont have to worry about china preventing appreciation . Simon yes, i think youre right, because this is the second time in a week weve heard that language from a central bank official. There are two other things id. 2 there are positive, as well. Theseat is, since we saw forward selling walls being lifted last weekend or the weekend before last, i should say, we havent seen either a very weak China Official fix at 9 15 in the morning, thats been basically behind expectations. And secondly, we havent seen aggressive intervention from the central bank. It looks like the rapid depreciation we saw in the yuan after the close, or just before the close on that third monday, was just an anomaly. So it does look like youre right and we dont have too much worry about. Too much to worry about. Rishaad the tone of that president ial debate doesnt really seem particularly a favorable towards china. What should we be worried about, if anything . Simon yeah, youre right. Both candidates used pretty inflammatory language about china. And this is really a kind of general sign that the political debate about china within the u. S. Has clearly swung in an antichina direction. Its going to be hard for major improvement in relations across the board, at least. However, i would say if we do get a biden presidency, i think its likely he will eventually bargain away the tariffs. Hell negotiate away those tariffs, which will ultimately pret ultimately be pretty positive for china and the remember the the renminbi. Juliette simon flint joining us from singapore. Thank you so much. Lets check out on the indian open as we get markets trading for the last a of the week. Weve got the nifty up about. 5 , quite interesting given there was a flat decision for most asian markets. We are starting to see things turn around with hong kong and china, japan also trading higher , so the indexes in asia joining. Expectss Logistics Unit business to recover in the coming months after disruptions caused by the coronavirus pandemic. The ceo spoke to bloomberg about the outlook and how the double 11 shopping bonanza could boost their gains. About 1. 8ar, we moved billion in one week. So, we are working with all our partners to be prepared for this years new were seeing the growth rate, the total number of parcels this year, were expecting additional 30 growth. So, thats how people are thinking about. In terms of parcels, 30 increase, is that over the 11 days or is that on and over year . Analyzed. Even though we slowed down, 50 , 40 growth at the scale, we are more than 60 billion parcels per year right now. We are still seeing 30 growth. Thats tremendous. Tom it is. And that brings me to my next question, to what extent and how has the pandemic and covid19 impacted your business and the logistics injury industry more generally . The supply was interrupted. Because of the restriction, the movement, the workers in the warehouse, latenight delivery definitely getting impacted. We see all the flights got canceled. We lost almost all the cargo space over there. We invested a lot in infrastructure. We are building the hubs in different parts of the world. We are adding chartered flights to build the backbones. Played an essential role during the pandemic. Tom has it accelerated the digitization process . Definitely. For example, before the pandemic, we had maybe 25 chartered flights per week. Seems the pandemic doubled. Tom you talked about the freight, which is interesting. I know you added break routes between china and latin america. You talked about adding additional flights. Continueion is, do you to see that kind of expansion of freight . Or is this just pandemic related . I think it is pandemic related, but we see the continued growth right now. Need robust. E we and the reliable Global Supply chain. Tom do you expect to be adding more freight routes . Definitely. Were seeing the early stage of building a global infrastructure. Tom when we talk about the international expansion, what are your priority markets . Priority wise, we are hugely into russia, into europe, into Southeast Asia, and now were seeing a lot of opportunity and latin america, as well as in the middle east as well. Thats why we recently added the chartered flights into israel, into latin america, and actually we also added one into africa, as well. Tom how do u. S. China tensions play into your strategy for the u. S. . It does cause some uncertainty for us. The business deal is going, both from import and exportwise. We are focusing on trying to create better value and Better Service for our work clients in terms of the chinese merchants trying to sell in the space, as well as for the Global Brands in space. And into china, we try to give them better solutions. Tom are you looking at additional acquisitions or investments . Driving, autonomous those type of things weve been looking. Rishaad lets take a break. Coming up, in a bid to help its ailing economy, india is using a dip in covid19 infections to open up borders. Weve got details on that coming up. This is bloomberg. Juliette a quick check of the latest is as flash headlines, aviation regulators in china say the projected return of the boeing 737 max is high on their agenda amid talks with ortners in the u. S. And europe. There are three criteria that must be approved before china will let them ask fight again, the max fly again. The data will be made in a province and is being billed as europes cheapest ev. It may be the first of many as european carmakers scale up short production. Renault secured a government loan earlier this year. Dip in india is using a covid19 infections to reopen borders to some foreigners in an attempt to revive a shattered economy. Flight options are still limited. Lets get more from ruth pollard in new delhi. Is this the right time for india to open up . Give us a sense of how it is on the streets of delhi and elsewhere right now. Its yeah, hi, look, certainly an unusual step for the country thats got the highest second highest number of infections in the world. That comes as other countries are closing their borders to covids second wave. On the streets of delhi, it looks like life is back to normal except most people are wearing masks. Were required to wear masks every time we step out of our home. Im happy to report most people are doing that. Certainly, it looks busy, but still many factories are shuttered and consumer demand is not what it was before the pandemic. Is notld note india alone in thinking that it might open its borders to foreigners. Indonesias Prime Minister announced it was considering reopening its borders yesterday. Mentionedruth, you people there are wearing masks. What are other reasons for the dip in infections . Who look, a lot of critics long distrusted indias virus numbers have said that the wine the decline in dell he infections could have infections delhi could have contributed. Indiaher worry is that has a fiscal stimulus in its wake, with celebrations expected to draw huge gatherings. There are experts who say this could take india into a second wave of new infections. Juliette south and Southeast Asia government editor ruth pollard, thank you so much for joining us. The final faceoff between President Trump and joe biden has wrapped up in nashville. It was a less chaotic debate that featured muted mics, but there were still personal attacks, accusations of corruption, and differences on handling of the coronavirus. We were talking about how it was a little more sanguine this time around. I didnt feel the need to get into the fetal position afterward. I saw some people talk about they missed the fly that was in the last debate, but there were a few attacks here, particular President Trump really saying the virus came from china, rish. Rishaad yeah, absolutely. At the same time, i suppose joe his opponentiously would have gone for activations surrounding his son, hunter. Came back on that one, again asked him about why he wont publish his tax returns the last few years, and asked him what are you hiding . There are accusations of malfeasance in the finance and personal finance there, as well. The gloves were definitely on for that debate. Best of bloomberg daybreak middle east is coming your way next. The following is an important paid program about humana Medicare AdvantagePrescription Drug plans, sponsored by humana. Announcer life keeps changing, and so do you