tom: this is bloomberg "daybreak: europe". i'm tom mackenzie in london. markets on tenterhooks as traders await inflation prints from both sides of the pond. u.s. cpi expected to remain firm while the u.k. outlook has investors on edge. south korea's yoon suk yeol arrested over the martial law fiasco. the first incumbent to be taken into custody in the nation's. plus, the sec's parting shot at

elon musk, as the regular sues the world's richest man over an alleged failure to disclose his twitter stake ahead of that takeover. tom: it is about the data today. primarily focused on investors with the u.s. inflation print later today and before that at 7:00 a.m. u.k. time, u.k. cpi, after the rout acros u.k. assets. pointing higher a 10th of a percent after ending flat yesterday. for the 100 futures in the u.k. looking to gain 0.2%. s&p futures stateside that of a holding pattern it seems.

a next closed for u.s. markets yesterday with the nasdaq 100 down in the s&p eating out slim gain. nasdaq now pointing to gains of 0.1%. let's flip the board cross asset, the focus will be on the pound and treasuries given the inflation data. but 10-year at 4.7 seven, the pound at 1.21, down a 10th of a percent, the inflation data could adjust the prospects for sterling. brent $80 a barrel, just up 0.4% and gold at $2679. let's have a look at asia. the lines in the last half an hour around additional restrictions from the biden administration on the sale of ai chips into the chinese market, specifically focused on the likes of tsmc and samsung, the owners of course of the fabs that manufacture those chips. mci asia-pacific across the benchmark currently flat, the kospi in korea on the arrest of the president flat as well at

2497, the yen currently up 0.4%. we have been hearing from governor ueda suggesting that the decision we from the bank of japan is in play. he hinted at and talked of higher wages, that suggests maybe there is an option for the boj to go with another hike. markets expecting a 68% chance. that is the odds of a boj hike at that meeting next week. so the yen is strengthening. the taiwanese semiconductor manufacturer tsmc in focus on the back of those rules from the biden administration, currently down 2.3%. economists in bloomberg's survey are expecting u.s. consumer prices to show a fifth month of firm increases. today's print likely to reinforce the case for an extended pause in fed rate cuts. that is the affectation pay let's bring in valerie tytel on

the key components worth scrutinizing on the report. >> it will be on that core month on month cpi print. expected to hit 0.3 for a fifth month in a rope. if we look at what is priced into the options market, market attention has squarely returned back to inflation. this is the biggest cpi print in nearly two years. the implied swaying in the s&p 500 for today's print is a plus or minus 1%, this is a high-stakes print both for what we can see happen in the treasury market. a hot print could tempt us to believe that the fed next move could be a rate hike and that bond move could continue. we saw 30-year yields touch 5% the second time this week. a hot cpi print could get the market to get thinking that 10-year yields are headed north of 5% as well. back to the core month on month cpi print. this will be the most important

component of the print today. it has printed at 0.3 for the last four months running. that is important because a 0.3 month on month reading gets us farther from the fed's 2% target. that is why we don't want to be seeing these readings. we want to get back to 0.2's and 0.1's. the pressure is on not just for the treasury market but markets globally if this bond rout is ignited by a hot print in today's cpi reading. tom: currently 4.77 yielded on the benchmark 10-year it with yields down one basis point. we will seehow much volatility there is around the tent have year on the back of that -- 10-year on the back of that inflation print. inflation concerns in the u.k. have been a central catalyst for the selloff across u.k. assets the last week. the u.k. chancellor has blamed

the recent spike in u.k. borrowing costs on global market volatility. rachel reeves sought to deflect questions on how she will repair britain's fiscal position as she faced parliament for the first time since the market self. >> i set out the fiscal rules that this government in the budget in october that we will pay for day-to-day spending through tax receipts and get debt down as a share of the economy. we remain committed to those fiscal rules and will meet them at all times. tom: our u.k. correspondent lizzy burden joins me. rachel reeves reeves trying to assuage the markets, did it work? lizzy: the real test is today, tom, you heard her reiterating that she will meet fiscal rules at all times. another test will come in march when the office for budget responsibility assesses if she has gotten any headroom. she has signaled that if she hasn't, she will pick spending cuts over tax rises rather than

breaking those fiscal rules although notably she did not say that yesterday in public. it raises the question of if she will cut spending, how will she maintain credibility? is she going to say she will do it down the line, let's say, after three years? and will that be enough for the market? we were speaking to the former chancellor george osborne's ex-advisor, and he said if she did that, it would be a stroke of the pen, changing numbers on the page not real action. this was not the only drama at the treasury yesterday. you saw the city minister quit. she had was possibility for anticorruption, ironically, it was over a corruption probe.that she was a close ally of the prime minister so interesting to think about his position slightly weakened now perhaps.

she has been replaced by mr reynolds -- emma reynolds who is working on china policy as the government tries to strengthen ties with beijing. opportunities for the financial sector. she used to be part of the city lobbying campaign to keep china out of the enhanced tear of the foreign influence registration scheme. tom: take us to the macro picture on the data front. this is what is key today. as you said, the inflation data out of the u.k., 7:00 a.m. u.k. time, and whether it exacerbates the selloff or gives the chancellor some reprieve. lizzy: the market moves beating the spotlight really on this data.economists expect inflation to stay at 2.6% at the headline level in december, above the bank of england's target, the highest in nine months fueled perhaps by energy prices. it is tricky for the bank of england because the boe could focus on the near term and be cautious about cutting rates.

on the other hand, they can look through what may be a temporary rise in inflation and focus on the weak growth outlook. but there is the question is this actually temporary? we had a survey from the british retail consortium showing that two thirds of cfos plan to pass on this next rise, the payroll tax rise in the october budget onto consumers. food prices expected to rise 3.5% this year compared to 2.9% in 2024. what matters most of the bank of england is the services number. for now, traders have pared their bets on boe cuts. in december and bailey said there would be four this year. at the moment they are only fully pricing one and a half total. of course, as you say, it comes back to the chancellor too because if you get a shock inflation spike today, you can see gilt yields rise and that would further wipe out rachel reeves' headroom. tom: you talk about expectations for markets that maybe they only go once this year.

to what extent is that consensus? what are you hearing from economists in terms of what would trigger a more dovish bank of england and whether there is a debate happening around qt and whether they start to fade that? lizzy: because thank you chief situation feeds -- the qt situation feeds into the gilt situation. you could look at the moves yesterday and think that actually maybe reeves has made it out of the turmoil. and it was right of her to go to beijing and stay calm. you heard from the bank of england's deputy governors saying the moves were orderly, echoing reeves' deputy jaron jones. that has been the argument that this is not the same crisis but to what extent is the quantitative tightening, the guilt sales program of the bank of england interfering with the spirit you had a like vicky

price saying maybe there should be a role for the bank of england to change what it is doing so this turmoil is lessened. tom: you touched on some of the political pressure that the economics is leaving now. that the scarring on this labor government. how weakened's keir starmer at this point realistically question mark he has that majority that some have described as a super majority, is this a more fraud value for prime minister after last week's events? -- lizzy: just because that majority exists does not mean that power will always be there. this doom and gloom narrative from labour has had an impact. you can see it in terms of this british retail consortium survey, the tax hikes the narrative weighing on confidence among businesses. but the market turmoil, guest after guest has said to us, is

also an international picture which is why we need to be nuanced about the extent to which the chancellor is weakened . tom: thank you very much indeed. we will review live pictures of a space x launch that is expected in the next couple of seconds. the kennedy space center there in florida and there is the launch. let's listen in. >> vehicle is positioned downrange. >> two plus three seconds into launch, falcon 9 has successfully lifted off at

kennedy space center. the vehicle is going vertically but it will begin to move horizontally. we will gimbal those engines -- we are still going up. >> we are supersonic. >> we are moving horizontally and that helps the vehicle get into orbit and avoid being pulled back down to earth. we are coming up on max q, this is the largest structural load the vehicle will see during ascent. >> max q. >> there is that call out. we have passed through max q.we have a few events coming up,, mico, separation -- tom: a spacex falcon nine rocket launching a pair of lunar landers which will begin independent journeys to the moon. they have a payload of

scientific equipment. the primary payload is called the firefly aerospace's blue ghost lunar lander. they will be carrying 10 science payloads from nasa as part of the payload services program. it is being called ghostriders in the sky, this mission, and has a target of landing on the moon in early march. we were seeing live pictures of the spacex falcon nine rocket taking off from kennedy space center with a payload that will be landing on the moon expected in march with scientific equipment feeding data back to nasa and the team. coming up -- >> i heard bloomberg is looking for a new cohost for "daybreak: europe" to explain the benefits of ai to business leaders worldwide. i thought no one is better qualified than me, an anti-generated avatar. -- tom: we will speak to the ceo of

synthesia to discuss the company's growth ambitions and the development of digital avatars. they raised $180 million. that exclusive conversation is next.♪

>> hi, i am victor riparbelli, ceo of synthesia. i am excited to share that we just raised $180 million to accelerate our mission to accelerate that chick of -- of bringing video to business. tom: nvidia-backed startup synthesia is now valued at 2.1 billion dollars. the latest series d funding will support the next phase of growth to cement it as a pioneer in generative ai for enterprise

video. joining me now for an exclusive interview, the ceo and cofounder victor riparbelli, you can see in the video there. thanks for coming to the studio, friend of the show based in london, you when the team. we saw your avatar. legs moving, the facial expressions. that is the development with your avatar since the last time we had you on. you raised $180 million. how are you deploying that capital? victor: what we are doing is clearly working with our customers. they tell us there is still some way to go on the ai video to make the avatars more lifelike. we are looking at having avatars that can have conversations like we are doing right now. there is big investment, talent, increased compute things you would expect from an ai company and we are investing in our core platform bringing new video experience is to life. most people think of video having a linear beginning and

end, we are bringing interactive experiences to the market this year, which means every viewer can have a different experience of the video. tom: do we get out of that uncanny valley that you have talked about? if not this year, what is the timeframe for that? victor: there is a bit of a creepy field, you have talked about it. yours did not come across that way but you expect to get out of that uncanny valley this year or further down the line? victor: i think it is this year. we have really big models trading right now. this will be the year we passed the threshold of that uncanny valley. the reason that is exciting is every time we increase the quality of the avatars, we unlock more usage cases. the big theme the last 12 to 18 months has been as the avatar quality increased, people have moved from training, learning to more marketing and customer support because the quality of the avatars get better. if you extrapolate from were we are, it massively explodes. tom: what does that mean in

terms of shipping, can you give us a sense of revenues, targets, growth you are seeing this year versus last? victor: we do not disclose revenue, this is been a fantastic year. we closed a lot of new logos, new customers, of course. investors were pleased to see we raised our series d. there is a lot of ai companies that get initial cash. you sign the first contract, that's awesome, but then the real test is 12 months later when the customer has to renew their contract. the last four years, our customers keep expanding their use of synthesia. they start out with lower contract values, now summer 5-10 times bigger than they were initially and that is a strong sign of how much value it drives. tom: what is the geographic breakdown of revenues? victor: 50% north america, which is an outlier even though we are based in the u.k. tom: longer-term u.s.

victor: the product works in 140 different language is. this year we are extending with boots on the ground into markets like japan, australia. we are a very enterprise centric company and we partner with customers closely which means we need to be there to help them bring their strategies to life with us, with the human connection. tom: how do you continue to keep a moat with competitors, there is a number i am thinking of, how wide that moat is, and whether the likes of openai with sora, but also anthropic with google eat into the vertical you have created. is that a risk? victor: we look at what is happening with the bigger and smaller players. from where we are now, we have graduated from being an ai avatar company, that is what we were known for, we are now a video platform for enterprise. we help the entire process of

making models all the way to publishing to the end customers. the moat is less about ai models, they are important, but it is building a fully fleshed out workflow for video that drives value in that goes deeper than just the models. when you look at the big ai companies, openai has much more partners as competitors, we care about dialogue driven content which is the thing we are uniquely good at and i feel confident we will be the market leader. tom: you have been stepping up your security credentials. you received compliant certification, the iso. you have been doing red teaming on the platforms as well. what is behind that push on security? does it feel like that is enough? victor: i am proud of how much progress we have made on the security path. no system is perfect and we continuously develop it. it comes from two places, first, the moral imperative we think it is the right thing to do.

the other part is also what we are seeing is that in a price companies do care about who they partner with. they don't want to work with companies that don't care about content moderation or you have people making questionable content. tom: do you have content moderators, and if so, how many? victor: i don't know exactly how many content moderators we have. of course, we have automatic systems and content moderators, and that is definitely an advantage. people want to work with a trusted player. we started red teaming with a big american government agency. could not penetrate the platform and managed to create any harmful content. the investments we have made have panned out well and helped cement our position. tom: is the u.k. beating the moment on ai? victor: i am very optimistic with the recent announcements. we think the u.k. understands that there is a big opportunity to have a seat at the global table for ai.

as with anything, we want to see the execution go through, but the attentions are there and i am happy that -- is spearheading these initiatives. i am optimistic. we have a big shot at becoming a big ai superpower. tom: victor riparbelli, ceo of synthesia, on the back of that $180 million raise graduating from a gen ai avatar company to an ai video platform with a global push now, synthesia. coming up, donald floats creating a new revenue agency to collect tariffs on foreign imports. we will talk trade with aline doussin from hogan lovells at 6:30 a.m. you can time. -- u.k. time. this is bloomberg. ♪

tom: welcome back.

some other stories making the news this wednesday. southern california residents exhausted by a week of wildfires , evacuations and blackouts are facing another night of critical fire danger. returning santa ana winds are threatening to fan the flames with more than 10 million people facing what officials call a particularly dangerous situation. estimates of the insurance bill keep rising with losses seen at $40 billion, double the previous estimate. boeing delivered the lowest number of jets last year since the pandemic. the planemaker handed over 348 planes, less than half the tally of its european rival airbus, and about one third fewer than the previous year. boeing is working to restore confidence after a turbulent year that included a strike and production curbs following a midair door blowout. meta is set to cut roughly 5% of staff through performance-based terminations affecting 3600

people worldwide. in an internal note, ceo mark zuckerberg says he has decided to raise the bar on performance management. the instagram owner plans to hire new people to fill their roles later this year. elon musk sued by the sec for allegedly failing to disclose his growing stake in twitter i have that takeover. we bring you the details. this is bloomberg. ♪

♪ >> good morning. this is bloomberg daybreak. i'm tom mckenzie. these are the stories that set your agenda -- markets from both sides of the pond. uscpi expected to remain firm

while the u.k. one is the first incumbent to be taken into custody in the nation's history. the s.e.c. is parting short of elon musk as the regulator shoe it is richest man over and i ledged failure to reveal his twitter stake before his take over. european futures pointing to .2 of a percent. there is some expectation there will be a bet of a holding pattern. then of course, u.s. inflation later in the day futis .22%. -- futsi, .22%. we focus on the treasury. there may be some movement around treasuries and how much volatility there will be around

the inflation data as investors adjust or readjust their views on the federal reserve and rate cuts. 4.77. the pound softer again in the session. down at 1.22. brent trading higher by .0% and gold is gaining just shy of .2%. yoon suk yeol has been arrested after a raid in his residence. he's agreed to be questioned over his short-lived martial law declare ration. >> today, when i saw them break into the security zone with firefighting equipment, i have decided to accept appearance of the corruption investigation with high ranking officials in order to prevent an unsavory

bloodshed. although it's an illegal investigation. i do not approve of this investigation by the c.i.o. anchor: editor danny joins us. what's the latest? there were some pretty dramatic pictures in terms of the dawn raid on yoon's residence. where do things stand now? >> this was unprecedented in korea's history. now where we are is that yoon is undergoing christening by the investigators. and they have up to 48 hours before before they need more time, they'll have to go back to secure a fresh warrant. they have a lot to go through local media reporting 200 questions they need to go through. so it might be that yoon is here longer and in that case, it is up to 20 weekdays. it is going to be dramatic for yoon.

that's where we are in terms to political situation in korea. anchor: the impeachment process cons as well, of course. danny: so exactly a month after yoon was impeached, he was taken intocustody there's a separate call into looking of the validity of the impeachment. and that started -- that started the proceedings yesterday. and they have about six months before they can come after the verdict. and if that -- fi if they hold yoon guilty, then he's removed from the office permanently that's kind of the timeline we're looking at. anchor: ok. dan knicks, thank you. another dramatic day on that capital danny thomas with the latest. we have some lines control

crossing right now when it comes to technology. 10 cent looking to set up a new venture with ubi soft and the gemo family would call and include some of those u.b. soft assets. it may help ten cent expand. ten cent already has multiple investments in europe in the gaming space. u.b. soft is a game maker. the family has set you be soft asset deal. these are the lines crossing. and we have a full rightup on the bloomberg terminal. this is according to source. they are creating a new venture that would potentially include u.b. soft's asset. so we watch both of those companies, of course, on the back of this news. and we'll bring you more details and as and when we get it.

ten cent trading up by 1.4%. the s.e.c. serving elon musk for waiting to disclose his acquisition of twitter shares in order to build his position at lower price. musk lawyers call ate sham after a multi-year campaign of what he describes as harassment. for more, let's bring in bill. this is a parting shot >> if the s.e.c. there will be change at that organization in a few days' time after the inauguration of course, of incoming president trump will anything come of this? >> yeah, it looks like it could be a symbolic parting shot. it's too early to know if there will be real consequence. the crux of the argument that he passed this ownership threshold of twitter, back in march, late march, 2022 in that he delayed reporting that to the public to

investors in that time after he passed the five% threshold. he continues to accumulate up to 500 million of shares an twitter. the s.e.c. had the public known that, the price would have been higher. they wouldn't have had a better dealle musk lawyers is refuting all of this. when they you have these missed deadlines the fee is nominal. so it remains to be seen. there is a new s.e.c. paul atkins has be traditionally very friendly towards wall street and businesses and has argumented against major fines on the company. it could be a symbolic pardon shot. biel find out in the weeks ahead. >> ok. bloomberg's bill on that s.e.c. decision to target musk over

that holding and the failure to disclose at least within the proper time frame. the bill, thank you very much, indeed. donald trump will create what he's drying as an external revenue service, e.r.s. it's the latest indication that he aims to carry out his performance when he retakes office week. as alnee partner at hogan. thanks for waiting by patiently. we values bloomberg reporting this week that maybe we would get a phased implementation of tariffs. there's still a lot of question marks. we don't faux what the incoming president's task are but we can assume that tariffs are coming. what is the gold impacting. how vulnerable is global trade to some sort of tariff regime

from trump? >> i think that's why we announced it pretty clear that increasing tarriffs will know the exact details hopefully from next week after the inauguration. i think the impacting on global trade will depend on, the shape chose tariffs will take. various proposal. the first one is -- it's a tough tariff. increase on all trading partners. all trading with the u.s. and whenever if their history shouldn't go. how he's increased on all of the partners. what are some products that are key for u.s. domestic industry will be accepted. the second option is obviously whether the increase will focus on specific countries and that list mexico, canada, china, he

wow so-called the targets, however that we done -- and specific sectors. so i think depending on the shape of this proposal and to increase what we're look at, a, there will be an immack on global trade. that's pretty clear in terms of the volume of -- of the impacting. i think it still remains to be scene. it's what the president and the cabinet will want to go for >> they're noun known unnotice. what is -- you talk about europe. what is the ability for europe to -- to insulate itself from these incoming tariffs and -- and the retaliatory response that brussels may be drawing up? >> it is going to be tricky for the e.u. if the u.s. decides to have significant increase in the tough industry sectors from

attendant year rare. european to the u.s. but the reasons, well, because -- if the u.s. significantly targets an increase of tariffs coming from china, there's a potential die version, we've increased it. and that's why they're focusing on. the first focus will be professional retaliatory. especially in the u.s. moves for warrant in this increased study. but also addressing the potential domestic impacts that they surged if inand there's a die version story of trade flow from europe based on the increase tariff on the u.s.-china side. tom: one sector is clearly in focus and it has been under the

biden administration, which is semiconductors. today, indeed as well as as well as under pressure from the u.s. we have this plan put in place. three tiers around allies and anniversaries. what is the impacting ultimately on the chip trade of these measures. alim. >> i think it's interesting that it is one to last measure that the biden administration is taking before leading office and i think it shows, right? that the u.s.-china trade relationship is -- is not beginning the change. i mean, we had some sort of significant unilateral tariffs. and being adopted over the years against china and you mentioned the d.a.i. ships. that are clearly falling within that -- i think it's a very complex legislation.

i still want to work it out. but clearly, i think the industry and the market is recognizing that they may have significant impacting and they will potentially have significant impacting. i think whether the new administration being one of them as being much more vocal. potentiallile aggressive. trade response to what you're supposed to do, the potential national security risk that china does. so there's a lot of pieces at the moment. >> complexity is there, season it >> we have the -- he think it is oklahoma. there's a possibilities for the ok to drive a third pass in terms of the relationship. versus the e.u. and the u.s. how realistic do you think it

is? >> i think it's going to be a balancing commerce that opponenttially is very difficult. i mean, obviously, -- in china and politically. but we do have quite a lot. do not prevent chinese investments into pacific critical investments in the ok. but give the government nor to block thoses investments. you can see they're using that power. the chinese investor made into -- critical industry player in the tech sector. so it is going to be very difficult for the u.k. to find the right balance and potentially the watches of being close to china. but you're managing the relationship between the u.s. which from their own words will

be significantly targeting china. >> all right. partner at tog ha levels. really fantastic. in terms of potential impacting on glow glow trade. china auditus. plenty more coming up. stay with us. s is bloomberg.

♪

>> welcome back. the e.u. is set to consider russian aluminum and phasing out purchase of liquified natural gas. the move is part of a package of sanctions. the drop proposals are being discussed between member states and could change before they are formerly presented. the e.u.'s fourneau fair says ukraine's allies should work lower the price gap. and to deprove moscow of revenues. we spoke to bloomberg, oliver cook. >> i have been advocating for this when i was prime minister of -- estonia. we have a clear effect. they are struggling because their national fund is decompleted. but there's still room that we

can use and -- and definitely the -- the -- the countries need to discuss that. what comes to sanctions, then we are constantsly working on new sanction packages. of course, we have 27 countries. that means we have to agree in what we do in this. >> but they're coming up with new ideas and work in on this. this is something that we have in our hands. and we clearly need to see what kind of, you know, next steps question do. using the -- the revenues from the frozen assets is the first step. and we need to really discuss what we can do fir. of course, i was so -- you know, sensitivities on the state side because it is important to think

how we can really help ukraine in this respect because you know, it's -- it's not right that our taxpayers are paying for the damage that we haven't caused. >> that was kai kellis for foreign affairs and security policy. coming up, wall street earnings season kicks off today. welts fargo, citigroup all due to report. we're going to preview the bank earnings next. this is bloombergc.er -- this is bloomberg.

♪ >> j.p. morgan among the banks kicking off the season today. the five biggest banks expected to post a 15% rise in fourth quarter trading revenue. let's get more on what we can

expect with the preview and bring in charlie wells. charlie, how close to perfection are bank stops? >> it's a big day today. that question that you can has this really important issue, which is how many of the issue is already bake into the share prices which performs exceedingly well over the past year. the kbw bank is up about 40% from a year ago. how much of that optimism about rate cut that we saw over the past year? how much of the optimism about the uptick in mna and refinds financing. it has potential deregulation in the u.s. how much is built in. and how much room is there to run for these banks talks? any bad news today could put these major u.s. bank stocks

aren't lot of the pressure. >> goldman sachs up more than 50% over 12 months. what a good run for goldman. and it could potentially be derailed or reinforced by the earnings acrossed from today going forward. where are you going to be focused charlie in terms of the numbers? >> yeah, look, we're focusing on how investment banking revenue comes in for a lot to these banks. we know that because of it being cheaper there was an up tick in it. in the high teens and above at a lot of those banks. there has been so much volatility. because of the u.s. election a lot of these equities, trading desks, c.f.o., mark mason talked about markets revenue up in the high teams teens there. and also i think a really interesting question too is going to be net interest income

which is the major source for revenues. that's been sort of trending downward. i think there's a question about rates as we go into this new year. and what that could mean for those higher rates tends to be better for that revenue source for these big banks. >> what about the guidance for 2025? what expect that we may hear from the executives on the call and the endless -- >> that's the forward look guidance for the year ahead. we've got a different year with the trump administration. there has been a lot of that opt him i talked about. i talked about deregular lace. we've been talking a lot in the previous few weekdays about inflation potentially causing rates to stay higher. that changes the business mix. and could make a year that a lot of analysts had hoped would be very positive for banks potentially more difficult. >> ok. >> charlie wells. excellent.

with banks kicking things off like today at wells fargo, j.p. morgan. and we'll be speak to bloomberg later you can catch that conversation around 8:00 this evening. u.k. time. >> this time around the dates. it's a massive day not just for earnings but of course, data that could prove very consequential for these markets. c.p.i., stateside. yesterday, c. pit no focus today. and i expect yields on the u.s. tenure treasury to continue to grind hard. expectations that month on month you're going to see an increase of 0.4%. headlines. in november. you're looking at the new one. 2.7%. those are the facilities. before we get there though, it's

u.k. inflation. right now, the focus and the pressure on the chandlers, will that be any candidate in drops in about four minutes' time with expectations that you're going to see, 2.6% and a month on month reading at 2. #%. we'll break that number four you on the opening trade, which is up next. this is bloomberg

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♪ >> good morning, i'm guy johnson. joining me around the table. lizzy burden and tom mckenzie. we're an hour away from the opening trade what do you need to know? u.k. c. pit is hissing right now. we've got the data. we've got the an analyst and what it means for rachel reeves. inflation number hits at 7:30 eastern. what will a hot number do? are we