vaccine have identified 15 people with rare blood clots linked to the j&j shot. that is more than double be cases that led to the cause of the vaccine. they meet with ecdc today to discuss what do not. that underscores how much she pandemic has changed even the most firmly established traditions washington. there were only be about 200 people in the chamber, the departure of the usual cramped room filled -- with and guests. mr. biden spoke on day two of the virtual climate summit. pres. biden: i very heartened by president putin's call

yesterday. united states look -- looks forward to working with russia and other countries to meet our promise. >> the biting administration is open to working with russia on share goals. navalny began refusing food 24 days ago. that spark concern he could die. navalny gave a hunnger strike after he was allowed access to outside.. this is rumored -- this is bloomberg. ♪ >> i am amanda lyon, welcome to

bluebird markets. >> and i am matt miller. we welcome our viewers each day at this time. we want to bring you headlines from around the world. on this program, we will discuss joe biden's lane for new taxes or increase taxes as well as the johnson & johnson vaccine under review. and the -- in the world of cryptocurrency, it can be a volatile ride. >> this week it has been volatile all over the place. we are taking a look at some of the opportunities, but for equities today it is intercession. the broader s&p 500, everything is moving higher today.

techs are doing well, but the s&p -- weakness remains the intel. it has been a very artistry story, or stories. there is news, we are seeing it shaaban pricing action invest stock their church in your today -- is one of the shots that has been the two concerns of these rare cases of blood clots. as many as 15 rare cases made to that shot. nothing -- johnson & johnson was moderately higher here julian assange johnson & johnson.

wish use on this a militantly schumer. truancy and drugs going at it is not -- not jewish and of the student during. >> it's never good news and there are serious side effects link to medicine. right now you're looking at 15 cases out of eight billion shot u.s.. we are getting some more gdl about these individual 500 and -- later today we will action mary facts consider letters news j&j shot u.s.. >> what kind of ruled you think they will put in place, or warning rules to be put on the

product? well they restricted jewish 35, will men you to terms change? 15 cases is still a pretty small number of cases. his main wall -- it is reasonable to assume they will debate your issue. 13 of them were under the age of 50. a is possible that might say you should not shot on however there was one man try one.

the risks of covid outweigh the risk of developing these lots. one chapter see where they land nature. >> we seen astrazeneca to go through similar issues. that certain you mentioned refrain from ashes and again now. and soon -- there's a subjects that some are better than i think it is a concern. the risk looks small, which see

getting there because these cases and that we are scrutinizing so much with his it shows how much the u.s. help agencies care about ensuring the sexy darcy. health officials are trying to spin the seven positive in the demonstration darcy systems. j signature bond shirt consciousness will affect one's opinions about all the vaccines joe bloomberg's -- talking to us about the johnson & johnson vaccine. >>

>> instead got into baseball card company tops. which is booming right now. not distressed in the slightest bit. it highlights how to stress is struggling to find good assets, good deals is very little over debt trade. in the face of said intervention in booming markets and investors sitting on piles of that. -- positive cash -- piles of cash. >> to me, there are levels to that story that matter. things may wind up distressed,

so they look at those where they think they could get the value differential. but if you say you are going to buy this, what happens when you cannot do that? it does become an bill bit more of a complicated picture for the blank check companies. >> yeah, it has been for sure. it has changed over the last with spac investments not doing right as well. not all of them, but some of them have colds with questionable blue. let's continue our talk about stacks with for flaw acquisition. joining us to discuss the news is brendan wallace, brendan,

there is an aspect of the deal that you did which is absent from a lot of other deals which strikes me as being a much bigger vote of confidence. that is a big part of -- can you talk to us about that involved in what kind of confidence the investors have been those deals? >> for flaw acquisition core is merging, which is been a leading operator of smartphone. in this merger, what is really

-- owner and operators, -- for example, groups like starwood capital, which is the third largest owner of multifamily in the u.s.. -- invitation homes which is the largest -- >> i'm curious for what that means for you on the valuation side. how does it change the landscape pretty when there are so many looking at fewer available deals? >> when a company goes public, they're looking for sponsor to compellingly be able to tell their story to the public. when they go public, their eight company that is flush with

options. have access to private capital, venture capital, regular ipo options, and have options for spac. we managed to have million dollars, companies like open and hip up. i think with those companies are looking for, is a sponsor they can add value uniquely, and do something different than the rest of the stacks that are out there. we can help bring in the most valuable customers of the product as opposed investors in this transaction, we can help shepherd through two new strategic adventures like growing internationally or

technology hardware tuesday's. there is value added to differentiated partnership and i think that is one layout market. >> is it easier to do a spac to make an acquisition in terms of compliant than buying a company and doing an ipo? >> i think there. one thing to note is we were a no warrant spac. often times when you see these mergers, there's a lot of warrants associated with the transaction. inmates target universe for them of higher quality. -- quality on newer is the highest-quality of texas to o much pursuit. they're not going to tolerate dilution that mcadams a more

action spac that was the way go public that could compellingly tell his story, that can add differentiated valued and enlist eluded architecture of ipo. >> obviously there will be those that are better quality than others, but one that seems clear is that the sec and other regulatory bodies will take a closer look at spac. he change the world for you? >> i think it will put increased pressure in terms of differentiation between hike wally spac sponsors that have something unique to offer. they can bring something differentiated table. i think we are seeing that

layout is a harder market -- it was a harder market in 2-3 months ago. going public through spac's complicated to do it takes it will, need to have sponsors that others. this is lake hughes is this the real state street in that case transactions will continue to get done. >> brendan, thanks so much for joining us. we both want to thank you. we both appreciate your time. coming up, bitcoin mania hits a speedbump.

it has dropped at some points today below for thousand dollars. we'll talk about what is going to befall next. -- shoot me a new mill. this is bloomberg. ♪

>> this is bloomberg markets. that may be a combination of factors. check this terminal inside your bloomberg terminal that gives you a sense of the volatility of bitcoin over the long-term. you can read this chart any number of ways. to me, this says something changed in the last year. did it change because of a

fundamental region, or judgment as of investor interest? >> absolutely. if you zoomed in on last year you see a series of job drops. you look at it from an irish perspective, which you zoomed out, ucf encounters rashes, fishing and start need to believe that it's normal behavior of this cryptocurrency so be interesting to see where he goes from there. -- to see where it goes from here. >> in terms of what you are seeing in its point in the pullback we are seeing, is it a healthy go back buying opportunity?

>> spectacular to someone who's not accustomed to the crypto markets. it feels like a big deal. the biggest weekly drop in two months. we are at the lowest since march. the people who are question to trading crypto, their uses is the ups and downs makes shining. this was possible that we can go back down to an thousand dollars going. but consumers now, i don't the people will be free? . >> she i was surprise it wasn't coming down 50 in the last few drops. what point out, if you told me when i started reporting on it,

i would've bowed with rafter. doing a wetter is driven that drop? -- do we know what has driven that? >> coinbase ipo as a turning point. i buy into that theory. what we are seeing -- are known workers -- crypto assets out there that are doing really will. machine ipo's listen. -- there are more things that people can be invested with.

that takes the price pressure off. >> wonder to watch eddie, what is to have your dots on it. i've yet to get my show into the one who. you will be the first to know if and when that. from matt miller and myself, this is bloomberg mark. -- bloomberg markets. ♪

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bloomberg first word news. they to of bidens virtual

climate summit ended with a open sign economic opportunity. j -- -- >> today's session is about the opportunity that addressing climate change provides. >> president biden announced a new commitment to producing wish wins -- emissions, but -- commitment to produce emissions reduce emissions. bloomberg learns there were only about 200 people in the chamber, a youth -- an unusual departure from the normal craft room.