i'm taylor riggs with jon erlichman.e might have some potential good news from that because in the fight against covid, the fda has approved an emergency use authorization. joining us now with bloomberg is angelica peebles. >> this is a big deal in our fight against covid-19. those have been really difficult to get to patients because they require people going in and receiving infusions which doesn't always happen right away especially with the turnaround time for tests. now you can have a treatment that you take home. of course pills are a lot easier than infusions. everyone i've talked to is very excited about this. jon: that stressful moment would get an update from a health care worker or a doctor and then wonder what's next. should we think about a world where you are able to go to the pharmacy and get your dose of pills essentially? >> that's the idea here. i have spoken to one company that offers at home tests. they are talking about integrating this option where you get your pills sent to you. in a perfect world

>> from new york city for our viewers worldwide, i'm taylor riggs info jonathan ferro. "bloomberg real yield" starts now. coming up, a hawkish pivot at the fed laying the groundwork for rate hikes in the new year, as the bank of england delivers a policy surprise, unexpectedly raising the benchmark rate. investors grapple with global monetary tightening as a central banks look to pull off the balancing act. we begin with global central banks going their own way. >> they just have to open up their options. >> not going to pull liquidity too early. >> some of this is confidence in central banks communicating that they want to be nimble. >> i think they have been trying to catch up. >> the bank of england in the minutes today said that the impact of omicron will be in effect. >> focusing on the labor market, but the timing of things has been complicated. >> if policymakers are tackling short-term inflation more readily, that is boosting consumer confidence in helping to improve growth projection. taylor: joining us now, peter from morgan trust--northern trust. colin, let m

taylor: i'm taylor riggs. katie: and i'm katie greifeld. caroline hyde is off today. ylor: for the dow and the s&p, the best week going back since february. all of this coming on a big cpi date, 6.6%. higher inflation means your real wages, romaine, you just lost 2%. romaine: some people thinking as to what the fed response is going to be here. taylor, you talk about going to the moon with regards to the meme stocks. we are going to the moon and beyond. over the next 30 minutes, we will talk about space. blue origin scheduled for another launch tomorrow. we will go to infinity and beyond by digging into the money of this booming space industry. companies are raising money by going public and taking celebrities. future plans include visiting places like mars, which could be big, katie. we will start with tomorrow's launch. taylor: the billionaire space race is back on. this launch was supposed to be earlier this week, but now we are going to see the launch of that ns 19 flight tomorrow. blue origin says whether it was the only factor -- whether was the only factor negat

taylor: i am taylor riggs in for jonathan ferro treasure -- jonathan ferro. fueling a rebound in junk bonds ahead of the holidays. we begin with the big issue. how hawkish is the hawkish fed? ? looking at a more hawkish fed. >> it is all about what the fed is going to do. >> short-term economic concerns are picking up. >> what regime are we going into next year? >> there is a prospect of monetary tightening. >> the question is, will the fed be hiking -- will the rates move 5 -- higher? >> we will not get anywhere near an inverted yield curve. >> what is the fed's reaction function? >> joining us now in our -- it is this push and pull in the market that is a big debate. how are you thinking about a hawkish fed? ? going to see a lot of inflation. we are going to see all that, but it will not be soft. they have to keep washington happy. they will be slow to hike. >> interesting. do you agree? >> the mindset of the market is decided inflationary. this is a complete regime change for the fed. i think the fed is going to respond to the inflation pressures. this is

. >> i'm taylor riggs in for emily chang. this is bloomberg technology. in the next hour, the fda has cleared merck's covid bill for high-risk adults with no other treatment options ordering 3 million doses just as a new wave of infection this starting to take hold. plus, jack dorsey takes on web three with skepticism. m km partners have more faith, predicting it makes the splash in 2022. of course, intel is facing some criticism over china after it asked suppliers not to use xinjiang labor products. it is threatening to ensnare the u.s. chipmaker in a dispute over human rights in that far western chinese region. first let's look at markets. we do that with pretty goop that. -- kriti gupta. kriti: the s&p 500 is closing 6/10 ever-present higher. the nasdaq up 1.2% in the session. it is not just a risk on vibe in stocks. it is in the treasury yields as well. you see the 10 year up by four basis points. of course, the bloomberg crypto index, some cryptocurrencies actually outperformed today. let's go back to the volume story. it has been a key piece of not

caroline: one taylor riggs teaches me day in and day out that it is about rate of change. we have seen significant rate of change in the united kingdom. yields spike higher across the curve. you are seeing the short term. we have seen this bold steepening of the u.s. yield curve today. what rate of change, how much steeper could these yield curves become, and how quickly, from your perspective? george: i think the rate of change has to do with market expectations. one of the reasons the long end are remaining so well behaved is the market still sees very strong government in prevention -- government intervention, and the fed and other central bank's have indicated the pace at which they are going to change. the fed increase the rate of change, so there's always this tension between the market and policymakers as to where is the breaking point, and the market seems to be comfortable with the rate of change of the deceleration of qe and not to spooked that. if inflation remains much hotter than expected, i thought accelerate from here, that rate of change is ultimately going

taylor: from bloomberg world headquarters in new york, i am taylor riggs. housetops fair today -- let's see how stocks favored today. let's take a look at what happened in the last hour. closing in on some record highs on the s&p, 4704 the number for a record high. 4701 puts us exactly where we were two weeks ago. volatility on thanksgiving, it is like it never happen. other indices not faring too bad as well. the russell 2000 the big outperformer. if we change up the board, i hate to say it, but it is all about apple. we are at about 175, which would have put apple to a $3 trillion market cap. right now, it is about $2.72 trillion, but who is counting? romaine: meme stocks. remember them? gamestop reporting earnings after the bell. this was all the talk here. a lot of people talking about the pressure by retail investors to squeeze out some short-sellers. one analyst estimated in the most recent quarter. and we will focus on gamestop but also some mean mania. it has not gone away but may be the media is not as focused on it as it was. they were trailing co

taylor: i'm taylor riggs. romaine: the omicron variant. the talk of inflation. the talk from jay powell. markets looking for the next data point to chew on, 8:34 out of washington -- that u.s. jobs report. over the next three minutes, we will talk about what to look forward to as we talk about how maybe the new variant changes some of those numbers, going forward. your going to dig into how travel restrictions affect more workers. let's start with what economists are expecting. taylor: you told me there is this cool thing called the bloomberg terminal that you can read stories on. guess what? we also combined all of the major economists on the street. i was reading the latest from morgan stanley, looking for payrolls to jump by 560. the average on-screen, about 550. unemployment rate of about 4.6%. she is looking at 4.4%. participation rate is interesting. 61.7% as we are thinking about a labor force that is trying to reenter the market. we still have near record jobs openings that we have been getting. still incredible when we are looking at how to push forward

taylor: i'm taylor riggs. let's look at how equities performed today. unfortunately, we pretty much undid all the gains we had yesterday after the federal reserve. it was technology and big tech stocks that bore the brunt of the selloff, off 2.5% to 2.6%. we highlight the lack of buyers that are stepping up into the market. you can see the buyers, every time the nasdaq has fallen more than 1%, it has done so. that has been a big losing day where the buyers are not showing up, at least for now. that is a recap of the markets. "what'd you miss?" starts right now. romaine: here we are. it's a little more than a week away from christmas. a lot of consumers are checking their inboxes, looking to see whether their gifts are going to arrive on time. over the next 30 minutes, we will focus on that. we will focus on delivery companies working to get you your goods. the pandemic has bottled up supply chains and driven prices skyward but also created new business opportunities. we will look at how this reshaped industries going forward. we have to start with the b

. >> i'm taylor riggs in for emily chang. this is bloomberg technology.r, the fda has cleared merck's covid bill for high-risk adults with no other treatment options ordering 3 million doses just as

i am sure taylor riggs is listening from the slopes. you know what else is high? biogen shares.med sources that biogen approached samsung about a potential takeover. samsung group, we should point out. i think we have a response from biogen. kriti: up just shy of 10%. this is coming on the back of a pretty steep hit. putting all their eggs in the basket of that controversial all cymer's treatment that was rejected in japan and europe. romaine: biogen is saying the company does not comment on market rumors and speculation. this is just based on one report citing unnamed sources. biogen not willing to touch this at least publicly. nonetheless, shares are up about 9% on the day. the stock has underperformed pretty significantly over the last several months. you are listening to a global simulcast on bloomberg tv, radio, and youtube. romaine: this is bloomberg markets. special coverage all week long, global simulcast of bloomberg tv, radio, and youtube. we welcome our out inches across all plot forms. basically a sideways day for the s&p 500. the dad trading at a record high as far