>> good morning and welcome to "bloomberg daybreak: europe." markets in a holding pattern ahead of a u.s. cpi reading as investors start to expect inflation to remain in check for october. presidents biden and xi set to announce a deal cracking down on sentinel -- fentenyl. the u.n. is warning that -- i want to get a check on what orchids are expecting ahead of the crucial u.s. inflation reading. a little bit of positivity but not much to write home about. ftse 100 futures down about 2/10

of 1%. a little green on screen, nasdaq 100 out performance but this is a reaction to yesterday's trade. the expectation for the u.s. cpi reading is simply a pause, the idea that this is a reaction to yesterday's trade. you will not necessarily see a massive decrease in inflation numbers, but not a massive increase either, just a sort of sideways move. some might interpret that as a positive for those who are worried that commodity moves might be pushing inflation higher. others will say the disinflation narrative is going away and so is the optimism around the fed trade. let's go cross asset. the same thing will apply to the bond market. you look some performance in asia right now. but backed onto the inflation rating, it will impact not just the bond market but the fx market, especially at a time when you are seeing dollar-yen trade just shy of 152. you need to keep in mind that if

the inflation data comes in hot, it could be a little bit of a tailwind for the bloomberg dollar index. i want to dive into the yen side of the story and who better to bring in than mark cranfield? in addition to the inflationary story, we are also talking dollar-yen and potential japanese intervention. we have crossed 150, the crucial mark, close to 152. walk us through the speculation in japan. mark: ever since we got above 150, people are getting more excited about the fact that we could get a repeat of last year. that was october 2022 when the japanese authorities came in very aggressively to cap the weakness in

does to to push for a weaker currency because the boj seems pretty committed here, although they've allowed long currency. the boj has allowed long-term yields to rise slightly in the market but they are capping the 10 year rates around the 1% level. a seem committed to short-term rates still in the negative rate policy. with a huge differential against short-term u.s. rates, while supporting the dollar and weakening the yen. you have the conflict between the fed and the one hand, higher for longer camp, and the bank of japan is the lower for longer camp. the dollar is much stronger against the japanese yen. the pace of dollar-yen going up not as quick as last year, meaning people are a little more

confident the intervention is not going to come just yet. currently everybody has their view on it but maybe a number closer to 100 55 is where the bank of japan were japanese authorities may step in. kriti: 155 on dollar-yen. you talked about this tale of two central banks. where does u.s. cpi fallen to that when we are expecting a sideways move especially when it comes to core figures? mark: that is the key really, the core number will probably be around the 4% level. that is behind all of the rhetoric from the federal reserve speakers, that they need to maintain very high short-term interest rates to really get this number down. on the face of it it doesn't look as though inflation is any worse, but at the same time there is no improvement either. that justifies the fed keeping the dollar open to a potential rate hike later in the year and keeping rates higher at least

into the first quarter of next year. all of that works in favor of the u.s. dollar and -- that's where the big differential is with japan, the one year to two-year year sector, it will stimulate more in that sector. there would need to be a big miss on the downside for the inflation numbers to do the yen any favors. from the forecast we've seen, that isn't going to happen. kriti: something of course traders are betting on closely. mark cranfield bringing us the analysis this morning. thank you. that is our top story as you look at our daybreak terminal. for a full round up, you will get analysis and also j.p. morgan, making the trade to commodities, bullish on energy, which feeds into the inflation

conversation. u.s. president biden and his chinese counterpart xi jinping set to announce an agreement that would see beijing crackdown on the manufacture an export of fentenyl. they are set to meet tomorrow. let's bring in bruce einhorn. this is a conversation that has been years in the making. what can we expect from the deal? >> everyday more than 150 people in the u.s. die from overdoses from synthetic opioids, fentanyl in particular. quite a lot of it from china, the drug itself or the raw ingredients. politically it is a really important issue for president biden, who has been hammered by republicans for what they say is

not doing enough to control the flow of synthetic opioids into the united states. some sort of a deal between the u.s. and china would be a big political win potentially for the president. we don't know the details of what will be in the deal at the moment but it does seem that, according to people familiar, there will be something announced at this meeting between president xi and president biden regarding fentanyl. this is the first time the two presidents will have talked to one another in a year. the last time they spoke was at the previous apec summit. quite a lot on the agenda as they prepare to meet in san francisco. kriti: that's going to be a crucial conversation. bruce einhorn, thank you for bringing us insights on the u.s. and china dynamics. that is just one piece of the equation we are watching this week. i want to get to what we should be watching today.

on your investor docket, 7:00 a.m., we get the vodafone earnings. this is important, we talk about telecommunications, very different narratives. vodafone will give more perspective around the u.k., and i would argue the global story as well. about two hours after that, iea oil market report at about 9:00 a.m. u.k. time. we are talking about whether the market is very tight in terms of physical demand. it could move the brent crude market. at the $82 handle. it wasn't a massive move in the context of the intraday volatility we usually get in the commodities space. after that, a 10:00 a.m. germany zew expectations of eco-growth. that will give us more insight into whether or not the question, is germany the sick man of europe?

doesn't seem like it, but there is no clear direction in terms of where the economic growth is going. 10:00 a.m. u.k. time we will bring you those numbers live here on bloomberg television. coming up, david cameron making a comeback, this time as foreign secretary. we will discuss the u.k. cabinet shuffle and what it means for the world. this is bloomberg. ♪

kriti: mercedes-benz truck ceo says the trucking market is normalizing after two years of demand outpacing supply. she also told us that the

transition to electric trucking will lead to increased leasing of long-haul vehicles and less ownership. >> we actually see that we come back to more of a normal market i would say but we also had two years of a very abnormal market in a positive way. driven mainly by the component challenges, which means we've seen continuously that demand has been bigger than supply. and now that is balancing out a little bit. >> there is still strong backlog, i imagine. our the new sales weakening? obviously the backlog can carry, but looking forward? >> taking the backlog compared to the last two years, it is likely down but 10 years is extreme good. it's more coming back to a normal market. >> you mention supply chains.

are you confident you got everything under control and able to bring trucks to market? >> yeah, it is getting continuously better. we are still not in the normal situation so we still work with shorter planning cycles than we would like and we are shifting around sometimes in production but it is going in the right direction. >> last time we spoke you said if you had one wish it would be a faster rollout of the charging infrastructure, is that coming true? >> that is still my top wish. [laughter] >> demand for the e truck and the slow down, what are you seeing? i know you haven't started fully producing them but where do you see demand? >> we have our formal start of sales this week so maybe will we meet next time i can tell you more, but it has been positively received.

when we were launching the e 600 we also had a lot of customers visiting during the launch and i talked to a lot of them. they said this is where they start to see for some of the cost parity to diesel. >> i also saw a story of scandia thing at the pay per use model, and it's perhaps a different model. are you hearing that from customers, will trucking have to change until the price gets down? >> we do expect more customers will go for a leasing set up but that's already a business model that is common today, especially with diesel trucks. maybe the balance will go more toward customers paying poor month than buying the truck up front. that's what we are preparing for. i think it's not just the price of the truck but also that it is a new technology, so the customers feel more uncertain

about it and maybe they are more eager to go into a contract where they pay monthly. >> what about germany as a destination for business? a lot has been made of the sick man of europe coming back and the structural problems facing germany. labor shortage, energy costs, bureaucracy. which of these actions most affects your business and would you like to see progress made on? >> for us it is good to have stable energy prices and some predictability also in terms of legislation and so on. that helps. in general we are really committed to germany. we are investing now for the transformation in all of our plans. we are also building a global parts logistics warehouse i think for us germany is and will in the future play an important role. kriti: the mercedes-benz truck

ceo speaking to oliver crook. i want to spit -- stick to the corporate theme, starting with stellantis, offering to buy up to 6400 nonunion workers as it continues to cut jobs. the automaker says it is taking steps necessary to protect operations as it transitions to ev's. it says it is committed to a 2030 strategy that includes the launch of 30 new ev models. starbucks burritos manning to hold their biggest strike yet this week. thousands of employees at hundreds of u.s. locations will walk off the job thursday, accusing the coffee giant of refusing to fairly negotiate at cafés that voted to organize. starbucks maintains it is the union that is refusing to fairly negotiate. nvidia is updating the processor that has fueled its dominance in the ai computing market. the company says the new model will use high-bandwidth memory

to better cope with large data sets needed for developing and implement an ai. providers are expected to start using it in the second quarter of 2024. google paying apple 36% of the revenue it earned from search advertising made through the safari web browser. in testimony, google said the partnership dates back to 2002 when google became safari's default search engine. we are getting some numbers come up the third quarter net income, the parent company of foxconn -- excuse me, an arm of foxconn that makes a lot of chips for apple and helps in the smartphone assembly, their third quarter net income at 43 billion taiwanese dollars. the estimate was 34 billion.

interesting when apple sales are coming down in the asian market even though they did beat sales around the world. that will be fueling some of those earnings. higher by 2.4%. we will get into that later in the coming hours. for now, from corporate to geopolitics. stick with us. this is bloomberg. ♪

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it's easy: i share my style, size and budget. and they do the shopping for me. stitch fix sends me things that fit and make me feel like a more stylish version of myself. i keep what works, and send back the rest. no subscription required. no commitment. just my style. stitch fix. kriti: there is a lot of economic data we will be getting both in the united states and u.k., even china as well. i would argue the most important in the u.k. will be some of the jobs market data we will get, specifically things like weekly earnings. how much is wage growth going to be pressuring the u.k. economy at a time when it is worrying the boj, ecb and federal reserve? how will the bielby respond?

at the same time, how will the physical government respond when more and more people are demanding higher and higher wages? a tight labor market is the story around the world, as is the geopolitics. here in the u.k., prime minister rishi sunak has taken what many see as a gamble i bringing back former premier david cameron as foreign secretary in an extraordinary cabinet reshuffle. the move threatens to split the conservative party and could dog him all the way to the next election. let's bring in adam. david cameron, a man of many controversies. why is he concerning so many members of parliament? adam: good morning. he is concerning parliament because he has come back into government at one of the key offices, foreign secretary, one of the great offices of state. he's got a lot of baggage. he was the prime minister who walked out of outing street

singing a little bit after he resigned at the end of the brexit referendum that he lost. he called the referendum on the u.k. staying in the european union and lost. since then the conservative party has moved to the right of his positions and the person who left government to open the spot for him was one of the most right-wing members of the current conservative administration. she had constituencies, a bunch of supporters, members of the conservative party in parliament at the moment at odds with the idea of summary from the past who was anti-brexit and is opening up an interesting set of thought lines in the parliamentary party. kriti: at the same time we are seeing a lot of i want to say controversy around his relationship with china at a time when rishi sunak and some others are pulling away from

china. do you think david cameron will create some sort of u-turn? adam: it's hard to say. the geopolitical situation has changed a lot since david cameron was prime minister. he was in some ways the poster boy for deepening and warming relations. he was famously pictured in a pup with xi jinping. he reportedly has been involved in an investment vehicle and other links. members of the conservative party have been sanctioned by china since then, opposing chinese human rights records and as a threat to national security the atmosphere in the parliamentary party and government has changed and that is the same in the united states, which has a very different posture with regards to china. that's something he will have to

incorporate as a foreign secretary as he deals with americans and the chinese. kriti: a really interesting time to be the foreign secretary. adam, thank you for your geopolitical analysis. meantime, president biden has called on israel to take what he calls less intrusive action at a hospital in gaza, stepping up pressure to reduce the billion casualties. the main u.n. agency operating in the area says humanitarian operations will effectively stop within 48 hours due to a lack of fuel. i want to bring in sam. walk us through the understanding, the global understanding of what is going on with hospitals and civilians. you are seeing warnings around the issue. why now? sam: good morning. i think the u.s. and western allies cannot ignore what their closest arab and muslim allies

are saying. at a summit a few days ago, the mohammed -- these saudi crown prince accused israel of waging a war against our brothers in palestine. all of the gulf countries and turkey and malaysia and indonesia and even iran, supporting hamas and other groups, accused israel of committing war crimes and barbaric massacres. they also condemned what they called -- they did not directly reference the west, but an indirect reference of double standards. kriti: at the same time we are talking a lot about increasing humanitarian aid to gaza. we have seen one crossing open,

some eight getting in. not enough as the un pointed out. is there any light at the end of the tunnel? sam: it is pretty dire at the moment. the u.n. is reporting that all but one hospital in northern gaza is functional. 200,000 people in the southern part of gaza, where israel allowed, or ordered the people in the north to head to come up don't have water at the moment because you need fuel to run the water pumps. it is a pretty dire situation. the largest hospital, which is an gaza city, which israel has surrounded at the moment and claims hamas has an underground command center there, you had 32

patients die since november 11 because of the lack of fuel, including three premature babies. kriti: a trulydire and tragic humanitarian situation. sam, thank you for the update. something we will be watching very closely in terms of the global response we are starting to see an gaza. the united states has an interesting dynamic with israel my talking about how to tackle some of the situations. a quick check on the markets, not much of anything. european futures virtually flat. ftse 100 futures down about two tense of 1%. we will bring you more right here on bloomberg television. this is bloomberg. ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight.

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♪ kriti: good morning and welcome to daybreak europe. let's get to the top stories. markets trading in a holding pattern ahead of a cpi reading where investors expect core inflation to remain in check in october. presidents biden and she jumpy -- xi jinping will meet in san francisco tomorrow. a hospital surrounded by israeli forces must be protected as the u.n. warns humanitarian operations.

in 48 hours. were monitoring the geopolitics, let's get a quick check on the markets. u.s. cpi is in focus as we talk about whether this is positive or negative for the market if you were worried about some sort of increase or resurgence of inflation this is where you might breathe a sigh of relief. expectation is that core, energy and food components are going to be trading or i should say printing a sideways print. on the other side, the expectations for those worried about asian coming down more are saying maybe this would be negative. you have a little, futures are lower in europe, not higher by much in the united states as well. peaking of caution in the markets it goes cross asset when you look at the bond market. whereas you are seeing outperformance on the equity side the bond market is not doing much. only lower by 11 basis points.

everything will change and me get the cpi report. dollar-yen is trading 151.7. the idea simply being perhaps the idea simply being perhaps fed and boj are not on the same page when it comes to the way they are going to tackle inflation. it is creating speculation about whether the boj will intervene in the currency. cpi numbers could change that and that dynamic of where the paired trades. i want to go to bloomberg strategist venn ram talking about the cps figures. is this a tailwind or a headwind to the dollar? talk us through the ripple effects we will see their? vim: it's going to be a tailwind for the u.s. dollar because what worries me about the inflation forecast is they expect disinflation. that's not the narrative that we have, what we've seen in the

second half of the year is inflation taking higher and no one seems to expect that to happen. and that kind of worries me a bit. so if the number prints higher than forecast i think there will be a tailwind for the dollar, not only for the dollar there will be tapering on the backend because inflation cannot be put back into the bottle. kriti: something that is scary regardless of where you are. then rob walking us through -- venn ram wildness through. monetary policy and geopolitics of it all. president biden and xi jinping are set to announce an agreement that would see beijing crackdown on the manufacture and export of fentanyl. the two are due to meet on the sidelines of the apec summit. let's bring in bloomberg's bruce einhorn for analysis.

what are you expecting from the deal? bruce: this is a good example of how there might be a difference in expectations between what investors and others globally are looking at when it comes to the u.s. china relationship and what voters in the u.s. are concerned about. this is a really important issue for american voters. every day more than 150 people in the united states die from overdoses related to synthetic opioids such as fentanyl. a lot of the fentanyl in the u.s. comes either directly from china or via mexico where the fentanyl or chinese made components are made into the drive-by cartels who then send it into the united states. it has become a big issue for republican presidential candidates. former president trump as well as say ron desantis.

they have really been hitting this on the campaign trail so if can reach an agreement with xi jinping that would see china start to crackdown on the export of fentanyl and components heading toward either mexico or the u.s.. that would be of great value for the president as he heads into a difficult reelection campaign. kriti: a certainly difficult campaign. as we talk about other major topics of the summit, technology, green energy, and a lot of things in the reelection campaign. it feels like this is a trainable moment. how do we view it? bruce: there may not be too much else that comes out. it's this is the first meeting between the two presidents since they met one year ago at the last summit and that meeting was

one that they hailed as an effort to try to reset the relationship after it had been deteriorating. since then things have been up and down. there was the balloon incident in the united states which really set things back but since then there have been high-level meetings. antony blinken went to beijing, we've had ants in the lincoln, janet yellen envoy, so there are signs of the relationship is stabilizing. jake sullivan did say if there is a deal this could then open the door to further cooperation on other issues and so something that we are likely to hear coming out of the summit the possibility of that. there is a reset and relations in the worst is behind us when it comes to u.s. china trade. kriti: here's hoping for

investors who are seeing that as that their case for markets. bruce einhorn we thank you so much for bringing us that crucial perspective. i want to go from the apec summit to the u.k. and we will get the latest batch of jobs data. bloomberg economics expecting unemployment at 4.2% in the three months going into september. we are joined by anna from bloomberg economics. a pleasure to have you on the program this morning. i want to start with what we are looking for in the data this morning. looks like we are waiting for anna there about one of the things we need to keep in mind is not only wage growth but inflationary data. the idea being that if you see data come down in line with a trend you've started to see, employment numbers come out,

maybe that is going to change the story as well. that is going to have a market rate through in terms of cable rate. your seeing pound dollar 122.74. any weaker data would suggest weakness as well. is this the moment we think it is? will this change the bank of england's best case. remember the wichman story from the united states to the ecb, even the boj talk about wage growth, does the u.k. set a precedent? we will review analysis as we get them on bloomberg. other stories from around the world specifically in the united states u.s. house speaker mike johnson's government funding plan could run aground in the next 24 hours raising the risk of a shutdown. our line conservatives have two opportunities to torpedo the proposal before a vote plan today. biden is against a veto threat

noting ongoing negotiations with senate leadership both parties. mesh is one thing were looking out for. i want to bring out what else looking for, at 10 a.m. u.k. time, the german ega -- tcw, is germany the sick man of europe? more data to cement either side of the theory if you will. at 1:30 p.m. u.s. cpi data coming out will be the main trading moment of today's session from around the world. at 1:45 p.m. u.k. time, right back here to the u.k.. england's chief economist speaking on a panel called what is next for central banks. then back to the states later in the afternoon. central-bank bank speakers about what we're expecting. what is there consensus about the fomc? are they as hawkish as chairman powell would like? stick with us.

this is bloomberg. ♪

♪ kriti: going to get the latest batch of jobs data at the top of the hour. the unexpected -- the expected unemployment rate will hold steady at 4.2%. for more on this would bring in and from bloomberg economics. walk us through what you are looking at the data todayana: we are expecting -- today. ana: your expecting to see more evidence of that today and that will not happen in the headline rates which at this point is only experimental data because

the labor force survey has been temporarily suspended. we do not expect to see that calling so evidently. so it holds at 4.2%. we are looking that signs of labor demand is easing in vacancies and payroll deployment. and then wage data and we expect to see some softening. we are looking for private sector wage growth at 7.8%, a fall from 8% this month. kriti: is this going to be a consequential readthrough for the bank of england? we know ple is sensitive to each and every data point. will this change the view? ana: i do not think so. if we are right and if it comes in line with our view, we are going into the right direction so the boe can take comfort that its policies are working. labor demand is cooling and wage

pressures are softening. the battle over inflation -- it is too soon to declare victory. so wage growth remains much too high. it is more than double what is consistent with the inflation target and the unemployment rate is below what the you -- boe thinks is the unemployment rate. so we need to see more of those things and we are unlikely to see a changing message that has been that prices for goods will stay higher for longer. kriti: higher for longer but it only takes one data point to turn that around. we thank you so much for your analysis this morning. at the core of the conversation in public markets is the idea of how resilient not only the consumer but is inflation and that will way on public markets. the idea that if inflation stays longer how much can margin stay

afloat, how much appetite is there for lending in credit and public markets when it comes to deals? that will have a readthrough in the public markets. joining us to discuss that is the global head of private capital advisory waking up early and joining me right here on set pleasure to have you. talk to us about the readthrough because we know they tend to lag . you're seeing these worries now, how does that translate to the private space >> it translates into dealmaking because it requires leverage to complete deals whether on the by outside or even with nonbank wonders. with rates reading as high as they are and the volatility that we've had over the last few that makes it more difficult for debt underwriting to finance transactions. you've seen m&a volumes across wall street be much lower in 2023 then in many years recently. kriti: when we are talking about

dealmaking where the pockets with appetite for dealmaking feels like intuitively were talk about private credit, there is this need almost for more funding any eve seen that almost in the resurgence toward the public markets if you look at the equity capital markets are the debt issuance for example. where is the appetite and a private markets? >> some of the thoughts you hear around the market is this is the golden age of private credit. non-bank lenders are at the forefront of the markets to keep them lubricated and for transactions happening. structured finance providers, writers on transactions are the bright spots in on the deal front the sectors that are resilient to inflation, insurance, health care, business services. it is a services environment for dealmaking in those are still happening at top value. kriti: talk about structured

loans because i'm going to macro this out. if we talk a little about worries of recession feels like from the lenders perspective if you want to offer the money you need more collateral. talk about what those deals might look like? >> need collateral and you're looking at a different picture for what the companies will do, what revenue growth will do because of the macro picture. all of these rate cuts that the market is expecting are open for in 2024 are happening because something is broken in the economy. the economy has hit a wall. if there are deep rate cuts, and recession, a gradual picture, none of that is good if you are an underwriter. you will think twice about what session print looks like, what revenue and growth does this

2024 become a year of credit risk? because of the flow from macro. kriti: you aren't seeing warning signs flashing just yet. what does the red flag look like? >> softening of expectations. guidance for 2023 as been resilient. led by the magnificent seven in the u.s. but it has been resilient in 2023. consumer being a big bolster that. will we see strong retail data in the last quarter because of christmas etc.? in 2024 softness will play through gems of guidance in the first quarter. that will paint the picture of what the rest of the years guidance looks like and how much debt these companies carrying.

as a wall of refinancing in 2024. as that change the picture for some of these companies? kriti: you mentioned the magnificent seven people think about big cash, a pile of cash. all of corporate america and europe as well as a function of registered -- record. does that into credit when if you are forecasting cuts you cannot refinance debt and eliminate the need or other financing? >> you are carrying debt at levels that you finance before the rate cuts. you got borrowed at two, tuna half, 3% levels. today you're in a borrow between six and a half and 9% levels, a big spread and that really hits your earnings in a meaningful way. what does that mean about the

level of debt you can carry and when do you refinance? given the amount of corporate side need to refinance we will see the rubbermaid the road unless the economy softens and rate cuts are in the picture and you have a better entry point into financing. that's the picture. the other thing many are watching is there is softening what does it look like and when we see it? , softness is therefore consumer driven businesses? tumors share of wallet expenditure is something people are watching. kriti: i does that translate to the private markets? talked about structure deals, private credit being the golden child of the markets. what about private equity, was the translation? >> you have 3.7 giant dollars in

commitments in private funds around the world including private credit lines. 1.1 trillion is unemployed. that is a tremendous amount of money that needs to be put to work on a clock, 45 years. you said 2023 has been quiet so there is pressure to deploy. pressure has been waiting for debt markets to ease up, for private credit markets to finance deals and put money to work or hearing from the largest participants that they have to put money to work whether it is add-ons for existing companies or new form of estimates and they feel good about this entry point. this is good because you are at the top of the cycle of rates rather than the bottom with a fed increasing rates. they need to put money out in the next couple of quarters.

we expect ideal activity in private markets, m&a pickup over the next two to three quarters. kriti: something we will watch as private markets for like they're catching up to the public once. global head of private capital advisory, thank you for your analysis. several charts i want to put on your radar. stick with us, this is bloomberg. ♪

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♪ kriti: a couple of charts i want to put on your radar ahead of the european market open. chinese credit data in the asian session and this is a chart that is interesting. talk about loan growth in china. what is making up the biggest chunk is government debt sales.

for those people worried about chinese stimulus and how much the fiscal government is helping the market, this is the chart that shows the credit story is bolstered by the chinese government. along can they keep that up? crucial numbers coming out of china. a different story when you look at the japanese bank story. we talked about boj policy and dollar-yen. this will be important as we talk about the next chart. we talk about eps out of these banks, mizuho reporting yesterday, msg reporting in a few minutes. talk about yield curve control continuing to rise, these are the firms that are benefiting from that. take a look at the 12 month earnings outlook. higher and higher. if you overlay that line you would see a direct relationship, a net interest margin feeding into big japanese banks.

alonso last as we see speculation around the boj i'm going to bring you back to our last chart which is going to be u.s. cpi numbers. respecting a sideways print. that's rate starting to see continued pain. as a service-based economy, a lot of men but if you look at energy and the numbers outside of housing, prices are coming up. if you're worried about resurgence in inflation this supports your logic. lots of important conversations covering these themes within our with citadel ceo ken griffin. 1 p.m. eastern time on bloomberg television. after 9 a.m. we will speak to the head of oil markets at the international agency -- energy agency. alan mark joins us in half an hour from now on the back of the

companies earning results that and more on markets today. stick with us. this is bloomberg. ♪ i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network.

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