>> good morning daybreak europe. these other stories that set your agenda. truce extended. israel and hamas agreed to pause fighting for two days as more hostages are freed. the greenback falls were a fourth day, headed for its worst month in a year. treasuries eddie. the fed is done with hiking. ecb's president christine lagarde says there's evidence of softening of the jobs market. but warns the outlook for inflation remains uncertain. it's tuesday the 28th of november. we are looking at a risk off session on both sides of the pond this morning. euro stoxx 50 futures are down a 10th of a percent. ftse 100 down a 10th of a percent. s&p is flat this morning. they slipped yesterday, the s&p, but despite the decline, the s&p

is enjoying its best month in over a year. you have the two-year treasury yield tracking lower this morning. this after that reception of the auction yesterday. the five-year seeing more demand. that decline in rates adding pressure on the dollar. the greenback lower against its major peers for a fourth day. later today we get a read on u.s. sentiment ahead of the holidays with the conference board consumer confidence reading coming in at 3:00 p.m. london time. economists expect it will show optimism at its lowest level since july of last year. as for oil, brent trading just below $80 a barrel right now. the price really has whipsawed over the last couple of weeks on the geopolitics. hamas releasing more hostages overnight. we are waiting for the opec-plus meeting, which has been delayed until thursday. finally a look at asian markets that have been all over the place in terms of equities. the msci asia-pacific index is

up 2/10 of a percent. let's get back to the middle east. israel and hamas have agreed to extend a pause in fighting for two days. the halt was originally do to end today but will last until thursday morning, local time. it should allow further exchanges of hostages and prisoners. henry, what has driven the extended truce? it seemed unimaginable a few weeks ago, how is the hostage and prisoner exchange actually going? henry: the united states has been the main driver behind this pause in fighting. this is the fourth day. there has been an agreement reached on prolonging it for another 48 hours. clearly the israeli government wants to see the hostages come back and there has been scenes of joy in the country as people have emerge from captivity, they

have been there for 50 days. it's clear that the u.s. wants this to go on for as long as possible and has been aiming to reduce the violence. in the risks that this could spread in the region and i think that what we will see is when the 48 hours are up, or close to that, there will be pressure from the united states on israel to consider prolonging it for another time. each day you have another 10 hostages released in return for 33 palestinian prisoners. most importantly, the cease-fire continues. lizzy: we have also seen elon musk visiting israel. talk about an elephant in the room, henry. he only just was being criticized for amplifying anti-semitism on his platform, x. how did the israeli leaders handle that and him saying he wants to rebuild gaza? henry: it's a fascinating visit.

i think the israelis are trying to get what they can out of it. what we saw is that the israeli communications minister said that there was an agreement that starling, and elon musk company, satellite internet company, would not provide any services in israel without the agreement of the israeli government. if you remember last month, must opposed to helping international aid organizations in gaza to continue having access to internet because on several occasions there was a complete cut off of internet and phone services. israel, at that time, said they opposed it because it could be misused by hamas. i think that furor over musk's endorsement of anti-semitic views has been put to one side. if the visit seemed to have gone well, both musk and netanyahu towards a community in southern israel, that was the target of hamas. i think they were papering over that controversy.

rishaad: -- lizzy: elon musk would like to help rebuild gaza, but what will be the price tag? the cost is been put at $53 billion in its most detailed analysis of the economic applications of the war with hamas. it's holding off on great cuts in order of stabilizing markets. an update outlook from the banks research department put the conflicts gross effects on israel at $53 billion in defense spending made up more than half of that total. on to another central bank, the fed, bets piling up that it will cut its key rate faster than previously expected. for more on this, i'm joined by bloomberg's mliv contributor garfield reynolds. the s&p really has been on a tear this month because of these increased dovish bets. are we about to see a top in the stock market?

garfield: impossible to pause, partly because we are back to where we were middle of the year when we were hitting fresh highs from the s&p 500 only to turn around and drop when all the concerns came that the fed would keep hiking rates and was going to hold them higher for longer. now, here we are again, do we go up from here. you would think there's a lot of anticipation for the classic christmas rally. so there's plenty of potential that we will blow through that previous one. but by the same token, if you are going to believe the fed is going to rapidly switch to great cuts, then you have to believe the economy is about to turn down quite drastically, otherwise, why with the fed cut rates at 2.3% inflation. you've got this difficult balancing act. you want to be -- you can avoid

the cliche goldilocks scenario where things aren't going to be too hot or too cold. at the moment, it seems like the choice is between not too hot, not too cold or too cold. you've got the action of the bond market where yields keep grinding lower well below where they got to just one month ago. that's a signal from the bond market that it really does think this time a recession is on the cut. of course, we've also seen over the last year and a half, bond market betting on her session and it doesn't turn up. so, if you are in equities investor hoping for a rally, you want that second eventuality. but, right now we've got all this data that's coming up. got the pce, the fed's favorite inflation gauge. we have partials on the labor market looking forward to next week we've got the november jobs

numbers. all of that data, each data point runs the risk of setting off either a fresh speculation for rate cuts, or speculation that those cuts aren't coming. markets are looking a bit nervous about which way the fed is going to move from here on that continuum. lizzy: you have to have ugly data if rate cuts were on the cards. it's got all positive. bloomberg's garfield reynolds, thanks for the analysis. let's get to the health of the european economy. we heard from christine lagarde yesterday who said there evidence of a softening european job market. officials watching closely to assess the impact of the central bank there. it's great hiking cycle. speaking to lawmakers she touched on the battle to tame inflation. >> we expect the weakening of inflationary pressures to

continue even though headline inflation may arise again slightly in the coming months. mainly owing to some base effects. the medium turn outlook for inflation remain surrounded by considerable uncertainty. so turning to monetary policy, we remain determined to ensure the timely return of inflation tower 2% medium-term target. lizzy: bloomberg's european correspondent joins us. christine lagarde talking about inflation but what changes could the ecb envisioned when it comes to this pandemic emergency bond buying program? >> there was a very interesting affect yesterday from the head of the ecb at the european parliament because she did talk about inflation. she did say some of the inflationary plush -- pressures have come down, but we will see

an uptick on headline inflation and that reflects the uncertainty that the european central bank is having to operate on. there is a monetary policy decision, the final one for the year in december. there is a comment about the program that stood out to me. this is the clearest hint we have had from the european central bank that it is looking at the balance sheet that it could be opened out to making changes to the reinvestments, that is the key of the program. as it stands, they should run until the end of 2024. we do know some members of the governing council set for a few months now that this is a topic that should be debated and would align with the monetary policy already. in the meeting that happened just a month ago, there was the european central bank preparing to hold rates, they would move fully into the pep program. reinvestments and have strong

this balance sheet that did not manifest. to me it is clear reading between the lines that this will be a topic going into the december meeting. lizzy: it seems a big change of heart from christine lagarde. thanks for the update. that's bloomberg's maria tadeo in brussels. that's hone in on particular european economy, germany on the fiscal side. the cabinet approved a supplementary 2022 budget after the government was forced into lifting the debt break. that after the ruling by the nation's top court earlier this month. we are joined by bloomberg's germany correspondent oliver crick. what's the revision in the budget? oliver: since this bombshell from what came out here that blew a 60 billion euro hole in german finances, the government has been scrambling in terms of figuring out what it needs to do an answering number of questions. the first question is what happens for the budget in 2023, is the budget from this year, is

it on sound footing. now the government has come together and put in additional budget together and it mean suspending the debt break for a fourth consecutive year. really the debt break is at the center of all of this. the amount of debt, strict amount of debt that germany can raise on any given year is very limited here in germany, you are allowed to do it only in emergencies. it was lifted during the pandemic during the energy prices. now this needs to be voted on and parliament. this will probably go through for 2023 but what habits all of this other special funding? it's almost 900 billion euros worth. is that in jeopardy? the second question is, what about next years budget? they were supposed to thresh this out. lizzy: could there be an even more radical of the budget rules if they manage to do this, what could we see about stimulating the economy in the future? oliver crick, thank you for the

update. plenty more to keep an ion. 7:00 a.m. london time. we will get easyjet's learnings. the market is expected to swing back in the company said it will return to dividends for the first time since the pandemic hit. 3:00 p.m. london time we get u.s. consumer confidence as measured by the conference board. the expectation for a decline would weigh on the higher for longer rates narrative at a time when it does seem as though garfield was hinting markets are paying more attention to the data them to whatever central bankers have to say. 6:00 p.m. london time we get the u.s. treasury selling 39 billion dollars of seven-year notes. we have already held the five and to your auctions opening a pathway for a real revival in treasuries, at least in the eyes of many u.s. debt watchers. lots to watch out for on the corporate and macro front. looking at the round up of the stories to get your day going in

today's edition of daybreak. terminal subscribers can find it i going to dui go and today they lead on barclays potentially cutting banking clients according to the ft. you have traders taking bets on large rate cuts as we've been discussing, and potentially the start of a revival in u.s. ipos led by shine and read it. stay with us for more. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. it's coming up to 6:17 in the city of london. i want to take you to shocking climate news. in kenya the government is raising alarm as flash floods sweep across east africa. 76 people have been reported killed and 40,000 have been

displaced from their homes since the rain began last month. we are joined by bloomberg's correspondent who is there. how extensive is this damage? >> like was mentioned, lives have been lost and people have been displaced. initially it was just in a particular area that was affected, but now the damages extending across the country. 48 out of the 37 countries are now there. we are seeing 17,600 acres of farmland being affected by the flooding. this will put a dent in the progress the country is making in agriculture. we just saw it expanded by five point 8% after contracting in the last consecutive quarters. the rain damaging farmlands will put a strain in agricultural output towards the end of the harvesting season. infrastructure has been damaged, roads and bridges. that just helps with logistics.

lizzy: there was an emergency meeting yesterday, what were the main takeaways? >> the government has located several billion kenyan shillings as disaster relief or food items. the government said it dispersed 7 billion shillings amongst counties for disaster elevation. in this week, another 10 billion kenyan shillings were dispersed. the government is providing 500 million kenyan shillings to ramp up -- during this flooding season. they have given direction to the ministry of energy to improve the consumption of hydropower. however, this will come at a costly price because kenya is currently having a liquidity crunch and all the money going into disaster elevation will take a toll on the country. lizzy: bloomberg's correspondent

right across all the climate challenges there and the economic impact. africa, more broadly has climate challenges and additions will be the focus of the next episode of africa amplified. this month's big guest is south africa's environment minister this friday at 5:30 live from cop 28 in dubai. sticking with energy, italy's government has approved over 27 billion euros of investment into a clean energy shift as the country looks to ease the industrial sector. it follows a plan of 1.3 billion energy package approved in september. coming up, we will talk about u.k. inflation, the british u.k. consortium says it has a 17 month low. we will bring you the latest data next. stay with us, this is bloomberg. ♪

lizzy: -- >> what always happens at this stage in this cycle when you go to very high interest rates in the world sort of starts slowing down is deal slowdown. so the biggest concern is not giving capital flows back that they normally were depending on because people aren't selling assets. these types of cycles always end, and things returned to normal. which is quite interesting that we just did two deals in the u.k. in the last two weeks, one in the affordable social housing

, one in computer software, both are billion dollar $2 million type deals. we are doing a number of things in the u.s. now, some of which have been announced some haven't. we have just announced the situation in norway which is $12 billion. this deal is not totally in mothballs and these things start again. i think we are more on that side of the cycle although it has been somewhat dreary for years. francine: in terms of real estate, i think your raising opportunity funds, 10 billion, how's that going? >> we are raising money for european fund. we are always raising money for a lot of fund. we have gone through a big

fundraising cycle, so we have over 200 billion dollars. that's one of the biggest pools of un-investing capital in the world, and that will be deployed . interestingly, in real estate, which you just asked about, we are seeing a good deal of volume buying things in europe because european real estate is under pressure, in large part because interest rates were so low here for so long, sometimes in countries they were negative. so the borrowing costs to own real estate were next to nothing, and now it's closer to 6%. so if you have to carry a whole portfolio, it used to cost you next to nothing at 6%. they need to sell things. it's an to just hold their other

properties, so we are seeing some very good buys in that kind of environment because unlike most people, we have in norma's capital and it could buy the types of real estate that we like whether they are dataset, whether they are warehouses, student housing or those sectors have done very well. lizzy: that was steve schwarzman speaking exclusively to bloomberg's for it -- francine lacqua. making news, drama in the banking sector. bloomberg learned a group of u.s. health sector finance bankers have left citigroup for jefferies. that's after closing to new municipal banking department. sources say 10 bakers departed from jeffries includes three managing directors. meanwhile, a u.s. judge ruled the cofounder of bytedance has -- cannot return to his home in

the uae. it puts on hold a ruling ground team of billionaires earlier request following his guilty plea last week to u.s. criminal charges. this sentencing is due in february. later today we will speak with the former ceo of binance. don't miss that conversation right here at 6:00 p.m. u.k. time. i just want to come back to the u.k. we will look at the consortium data that dropped overnight that shows that inflation is at a 17 month low. the six straight month of declines accompanied by a warning that this may not last. you sign unexpected drop in retail sales last month that suggest the bank of england's policy is hitting stores, which begs the question, when are the rate cuts coming. i'm sure it's a question we will put to the deputy governor of england, the money markets man of the boe when he's right here

on bloomberg tv at 8:10 a.m. should be tasty conversation from the economic affairs committee criticizing the boe for being behind the curve on inflation partly because of lack of diversity of thought. that should be a tasty one. meanwhile for watchers of u.k. fiscal policy, the auspice of fiscal responsibility will testify in parliament later today. we should get more clues on the outlook for the u.k. economy. in politics and the u.k., sadly no meeting between the greek prime minister and richie sue not. that's because apparently of a bust up over the marvels. is downing street trying to find it dividing line with labor. the ball is in regions 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. (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. thanks to golo, i've been able to steadily go down the sizes in my closet and keep the weight off. for the first time in forever, i feel in control. (announcer) change your life at golo.com. that's golo.com.

lizzy: good morning, this is bloomberg daybreak: europe. these are the stories that set your agenda. troops extended israel and hamas agreed a pause fighting for another two days as more hostages are freed. the greenback falls for a fourth day, heading for its worth month -- worst month in a. treasuries steady after a rally. ecb president christine lagarde says softening in the jobs market but warns the outlook for inflation remains uncertain. welcome to tuesday, we are headed for a risk off day on both sides of the pond this morning. you are looking at euro stoxx 50 futures pretty flat as our s&p 100 futures as our nasdaq futures. not a lot of movement. the treasury yield is tracking ever so slightly lowered down to

basis points. you have seen the cool reception at the auction. five years see a. overall, this decline in rates adding pressure on the dollar sending the greenback lower, it has been all over the place down a 10th of a percent, later today we will get a read on u.s. sentiment ahead of the holidays. you have consumer confidence reading from the conference board at 3:00 p.m. london time. economists expect it will show optimism at its lowest level since july of last year. but all of that eco-data will feed into the price action. wti crude futures for january up to tens of a percent, $75 a barrel. rent crude futures for january just over $80 a barrel of a 10th of a percent. finally, a check on asia. msci asia-pacific index up for 10th of a percent.

let's get back to the middle east news because israel and hamas have agreed to extend a positive fighting for two more days. the halt was do to end today but it will now last until thursday local time. that feeding into the oil moves. it should allow for further exchanges of hostages and prisoners with time to get crucial more aid into gaza. u.s. national security spokesman -- counsel spokesman john kirby says the white house welcomes the agreement. >> the approach we are taking with israel and our partners in the region is working. it's getting a into people that needed. a pausing to the fighting, getting hostages out and americans out. we continue to urge and will continue to urge the israelis as they continue operations for the utmost care of innocent civilian life. lizzy: henry mayo joins me now for analysis.

how did we get to this extended truce and how was the hostage in prisoner exchange going? >> the u.s. has been the driving force behind this agreement. they were involved in secret negotiations that took place over several weeks. it's very interesting is the original agreement was for only four days, but with a clause that it could be extended each additional day that the cease-fire continues, then hostages will be released. from the israeli perspective that's a positive thing that have more captives come home. at the same time, the risk for them is that the longer this the station of hostilities continue, the harder it will be to go back to a full-scale assault on gaza, the u.s. has not said so explicitly, but continues to call for john kirby extending the pause in fighting for several more days. it's a calculation that does

appear to be that it can try to get this conflict to actually reach an end. that is, i think, the ultimate goal. lizzy: you've had elon musk visiting israel, speaking to benjamin netanyahu. the backdrop is the criticism that he has amplified antisemitism on xp how do you describe that? >> it's a fascinating trip. the israeli government has glossed over that. they have other objectives. one of the announcements that came out after elon musk's visit to israel was that starling, the satellite internet company, would not be providing internet services and israel without the approval of the israeli government. last month elon musk said his company would be willing to provide internet services in gaza to international aid organizations and that happen after israel cut off internet

and phone services. the israeli government is critical of that offer and said this could benefit hamas. they are keen to keep elon musk on board and make sure he coordinates anything he does with them. the optics are good. him and benjamin netanyahu visited this community in southern israel. really that whole controversy over his comments on next was absolutely not there. lizzy: really interesting to see him say he would like to help rebuild gaza and the israel central bank put a price on how much that would cause, $53 billion on the latest analysis. thanks for the update. bloomberg's henry joining us from dubai. the ecb president christine lagarde says there's evidence of a softening in the european jobs markets, officials watching closely to assess the impact of her central-bank psyching cycle. speaking to lawmakers at the european parliament, she spoke about the battle to tame

inflation. christine: looking ahead we expect the weakening of inflationary pressures to continue even though headline inflation may rise again in the coming months. mainly owing to some base effects. however, the medium-term outlook for inflation remains surrounded by considerable uncertainty. turning to monetary policy, we remain determined to ensure the timely return of inflation to our 2% medium-term target. lizzy: maria tadeo joins us for more. we heard about inflation from christine lagarde, but she was also talking about the pet program. the pandemic era emergency bond buying program. what changes can we expect on that front? maria: yes, this was a q&a she gave before the european parliament regular exchanges that happen between european institutions. but it was that, on the

investments that really, ion stood out. it's interesting some has gone under the reader, but it could be significant because when we talk about the reinvestments, the key is reinvestments, the program is down, it's about the reinvestments in the way that it is structured until now is that it will run and continue until the end of 2024. this is a debate that we know is active at the governing council. there are members of the governing council who believe it is time to shrink and do it faster, shrink that balance sheet. that would put the ecb more aligned to its monetary policy stance in this aggressive hiking cycle. the market was expecting it, a debate around the program and the reinvestments would happen in the meeting that took place just a few weeks ago in athens. that did not manifest. ahead of the ecb is now preparing the ground for that debate. she said the timing comes to now

put this fully on the table. again, this is a balancing act. a reason it has created chit chat on the market is if you believe no more hikes are coming, this is now a whole story, then the attention would shift from the rate policy to the balance sheet. lizzy: we have a meeting coming on december the 14th, did she drop clues about the policy path ahead? maria: yes, this was the final meeting of the year that will be in frankfurt. it has been this very aggressive hiking cycle for the european central bank. remember, they do not want to say openly they are down. they don't want to talk about cuts, numbers of the governing council still believe that if there was to be a take up of inflation, we could see another rate hike. the reality is the market does not believe that. they believe we've entered higher for longer and when they switch, two cuts, that something the ecb does not want to talk about but there is a zeitgeist

in the market. when it comes to inflation, inflationary pressures have cooled down. you have to look at the data from now to a year ago. she did say is we could see upticks, because of the uncertainty playing out on the geopolitics. she highlighted, and it's something that is said repeatedly, this is a central bank operating at a time when geopolitics are really at a forefront. lizzy: that's a monetary policy but we have cop 28 on the horizon, you've been speaking to the eu climate chief, what did he tell you? maria: i spoke to the climate commissioner, he is dutch, he is preparing to go to the cop 28 meetings, he is going to be there for two weeks. he said although we know what matters is the final weekend. in this conversation we talked about the dutch elections. he was the former economy minister, the former foreign. where the implications for

climatic time in which there seems to be real pushback from voters, but we talked about the expectations of the european union when it comes to the summit. let's take a look. >> there are two things that are -- that are important. one is making sure the world sees there is a commitment and the reality is, that the whole climate action transition needs to have much more funding of private and public. the second thing is that we also need to move beyond always the usual suspects. this really is a crisis so large that everyone with the ability to chip in and to pay has to rise to the occasion and share responsibility. >> what countries do have in mind? india, china, there has been times when they pull back and it's disappointing. >> my experience in diplomacy is it is only have helpful when you

continuously sing allow individual countries, but we need to move beyond just the europeans at a g7 and the usual suspects. they need to chip in and terms of responsibility. that is truly the case of providing the whole endeavor with money and that is also true in terms of making sure we do more mitigation, or emission in phasing our fossil fuels. scientists tell us that that is the only thing that will help us through the crisis. >> this is your first cop and relatively new, but you made in addition to get this job. when he spoke before the european parliament and other authorities, you did come up with the target, going back to the numbers behind this which was a 90% reduction. i wonder if that's a number you still stand by and how do you get to that? >> we do have to separate. what we do need to do is separate two things here.

one is the legislative process that we have in the european union and where we say we need to come up with 20, 40 targets, and we only have the first communication in a couple of months. that is when we will aim for in terms of ambition. the european 2030 target of 55, which we will -- which will over perform towards 57, that is a short-term reality. the other thing that is extremely important is that actually, we only have a couple of years left in terms of peaking admissions, and making sure the world rallies around more and for an. that is the more general message that the whole world has to accept, has to get their hands around at this cop. >> justified a question, because there is an implication for business, to get to the number, do you first see a number where you see carbon removals what -- renewals will have to be included in the recipes that take us to that number by 2040?

>> scientist say we need to step up our ambition but they also say removals are part of the equation and will continue to be out of the equation after 2050. when talking about business, it is important to do two things. one is to continue with the transition but making sure businesses can see through it and helping to prosper. >> which many don't. >> if that were the case, we need to change that because it does not make sense for companies to leave the union on the problem is at the table for the planet by having people lose their jobs. the other thing and the trajectory towards 2040 is all business leaders that i talked to in the previous portfolio is at businesses tell us it gives predict ability, show us what the trajectory will be so we can

plan for that rather than change it for the long. i think that is a fair ask. lizzy: that was the eu climate commissioner speaking to bloomberg's maria tadeo in brussels, setting us up for cop 28 into by, we will bring you all of the top lines from this years united nations climate change conference. we will preview discussions on climate discussions and more. coming up, we stayed in europe and hone in on germany because the german cabinet has approved a revised budget that suspends the debt limit for the fourth year in a row. we will bring you all the details with all of crook in berlin, next. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. just gotten 6:47 it is city of

london, grab your coffee, they german -- has approved a supplementary 2022 budget after government was forced into lifting the debt break again following a ruling by germany's top court this month. getting more were germany's correspondent, oliver crook. what's with the revision, how have they managed to do it? oliver: people have been bringing their coffee. the reason is this constitutional court flew absolutely huge 60 billion euro hole into germany's fiscal situation at the question is, what do we do next. the main question is what you do about the money spent in 2023, getting that money onto sound footing. they've approved the supplemental budget that the council has approved. it will likely be approved around the debt break. these very strict rowing rules about the german government.

what it doesn't answer our two major questions. all of the off budget funds are worth 900 billion euros. that could be jeopardized. it's on military spending on energy crisis spending. it's on the chip subsidies. the other question is they were supposed to thrash out the 2024 budget. that is all up in the air. lizzy: how do germans on the ground actually feel about the strict borrowing limits? >> was really interesting is that german rowing in the government, it may be a monday topic, we look at a poll that was taken a couple of days ago and the question was should the debt limit be eased. only 35% of people said yes, 61 percent of people said no. economists feel differently because they said germany, you are in contraction, you have the fiscal space and are competing

with a number of other countries that have no problem debt financing major projects at a time when the economy is in transition. we need to remember this is a fundamental and core issue for the germans that dates back to 100 years. the years of hyperinflation. i was just looking this up, monthly inflation of 29,000%. were talking about daily inflation. that's guards the psyche and that's why there's so much fiscal prudence year on germany. lizzy: bloomberg's oliver crook, we get a history lesson. thank you for that. more to come. this is bloomberg. ♪

>> financial stability so far has been quite good, we've had some hiccups at the beginning of this year, but they turned out to be idiosyncratic. but still a ways to go in the next nine months or so, we will see a time of height. we see in indefinite amount of time of high interest rates, lower economic growth. so it could also have an impact on financial stability. lizzy: the general manager speaking on a panel at the hkma conference in hong kong. also making news, deloitte has

asked u.s.-based executives to avoid using their usual workflows during business to heart vote -- hong kong. a number of mckinsey consultants have also traveled to the city with separate phones. this comes as china increases its control and surveillance over the asian financial hub in recent decades. a swedish county court a temporary injunction giving tesla the right timber take license plates. it offers the company a partial reprieve from spiraling strike action. the month-long walkout by members of an industrial unit at tesla repair shops in sweden has become a storm of industrial action with eight other unions also supporting the strikes. . shares of rumba maker irobot fell sharply after the european union's issued a warning against amazon's plan takeover. the proposed deal could hurt the market for the manufacturing and

supply of automated vacuum cleaners. it could avoid a veto by addressing the issues. i want to take you through a few charts to set you up for your day here. let's start with a: 10 a.m. right here on bloomberg tv, we will speak to the deputy boe governor who is the markets man. it will be interesting to look at the uk's two year yield shooting above u.s. and german to your yield. as you can see on this chart, they have already been saying in hong kong this morning that rates need to stay restrictive, long and that cute -- echoes the words of the boe governor yesterday. markets have been focused on the data, specifically last week stronger-than-expected pmi's, that's done more to pare back rate cuts than any central bank talk. so, next up, let's have a look at u.s. consumer confidence as

measured by the conference board at 3:00 p.m. u.k. time. the expectations for a decline would weigh on the higher for longer rates narrative. so, we wait for those numbers. finally, 6:00 p.m. we get the u.s. treasury selling $39 billion of seven-year notes. we've already had the five-year period to your options opening a pathway for a revival in treasuries in the eyes of many u.s. debt watchers. here in this chart you can see demand rebound deep -- rebounding slightly at the five-year treasury auction yesterday. if we just haven't quick check on the markets, you have s&p and nasdaq futures pretty flat as it stands. euro stoxx 50 futures are down a 10th of a percent. you have brent crude futures for january currently up quarter of a percent just over $80 a barrel, traders on the edge of their seats watching the geopolitical news around the israel situation, the hostages being freed in gaza, but also

waiting for the opec-plus meeting that we get on thursday, and the news on production cuts that we can expect to see or potentially may see. in the next hour we will speak with the former bank of israel governor jacob frankel on the global economic outlook, will also speak with the ceo on easyjet's latest results, they are coming up at the top of the hour. but i will leave you in the safe hands of anna, mark and tom, markets today is coming up next. this is bloomberg. ♪

the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network.