francine lacqua joins us with our guest. ancine: we are measuring progress and trying to figure out what is the smart money to deploy some of the capital. i am delighted to be joined by john graham, the president and ceo of the canada pension plan investment board. thank you for joining us. we started the panels and we were expecting a debrief i jake sullivan. he never showed up because he had bigger things to do. how much does geopolitics factor into your longer-term investments? john: right now geopolitics is almost trumping capital markets considerations. you think back a few years ago, i am not sure that people were pricing geopolitical risks and today it is dictating not only that investment decisions but also what is coming out, what cut -- type of investments are becoming available. francine: do you look at it through the lens of supply chains that will be hit or a split of globalization? john: one of the trends all investors are facing right now is think back over the past 30 years. industrial policy, economic policy

let's bring in francine lacqua. i understand there is a coffee crisis, but apart from that, or has been some significant political rhetoric in the past 24 hours. what topped the agenda for you? francine: first of all, we are all today hydrated and caffeinated. yesterday not so much because the coffee places here do not open until 1:00 p.m. that is where the world leaders come and speak. the focus, hearing from rishi sunak and emmanuel macron today, and today we hear from the president of the european commission, is the lofty ambition we can't leave anybody behind and climate change has to be the focus for the next 10 years and we have to get a net zero. the most pressing thing i heard is show me the money. i know it is a little bit crass talking about that as a climate change goal but we are talking about loss and damages. we are talking about reparation. where does the money go? if we are going to get real action, in used to be a transfer of wealth from richer countries to poor countries and there is no appetite to

later in the show, we will have more from the forum with francine lacqua. let's get more with mark cudmore. you are looking at the huge rebound in tech on the hang seng. mark: yes, absolutely. that interview with ken griffin was brilliant by our colleague erik schatzker. i am excited by hang seng tech. the 7% today, that brings it gains up 40%, more than 1000% annualized. it is one of the world's largest stock markets. let's put it in the larger horizon. over the last two years, this does not even show up, and it shows you the scale of disruption we have seen the last two years. it is still down 65% despite a 40% bounce. in fact, this could double again from here and it would still only get back to where it was last summer. the main point i want to say is this market has gotten so discounted, you do not have to believe in fresh record highs are returning to hong kong stocks. you just have to believe that the end of the world is not coming when there are massive upsides. tom: still a long way to go for the hong kong stocks especially for the tech companies.

this is bloomberg. ♪ >> this is "bloomberg surveillance: early edition" with francine lacqua. od morning everyone and welcome to "bloomberg

. ♪ ♪ >> this is "bloomberg surveillance: early edition" with francine lacqua. morning, everyone. welcome to "bloomberg surveillance: early edition." i'm francine lacqua here in

staying with u.k., do not forget to subscribe to bloomberg's "in the city" podcast hosted by francine lacquan find it on spotify or reverie you get your podcast. francine: we recorded this week at cop27. we tried to figure out what the messaging on green issues is from this government. there were good insights. tom: rishi initially said he would not go, then he did go. boris was there. francine: he stole the limelight. the crypto conversation continues. we will speak to justin sun. this is an amazing interview. you spoke to him, and what happens with bailing out. tom: there are conversations with ftx, facing bankruptcy. tron may have some details. will try to pin down justin, and influential public figure. ♪ francine: welcome back to the open, 46 minutes into the european trading day. gains across the board. the rally continues. a lot of euphoria over the falling inflation in the u.s., and that is extending the rally into a second day. china also relaxing some covid restrictions. treasuries closed today for veterans day. tom: let's go back to the cryptocurrency story, and the troubled traini

francine lacqua has been speaking to the biggest players on the ground. et's get back to francine with another guest. francine: today, we are talking about financing. the shift has changed from last year. we were talking about big asset managers to than today, what countries can do for emerging economies. let's talk about corporate's, we have great corporate's at the forefront of technology. one is our exclusive interview with the envision energy ceo. so many questions about greening the economy. i know some of your things are made in china, but you are very global. what you need today from heads of state around the world to be quicker with this transition? do you have the resources, the raw materials, and regulation support? >> if you look at today's green technologies, wind and solar have become very mature and scalable, there is clear policy support. but some things are emerging. for green hydrogen, what we believe, the difference or long-term contracts become very critical because without this market, you are not able to finance your infrastructure. yo

i am francine lacqua's in singapore with tom mackenzie in london. tom: asia stocks pair gains after china releases sweeping support for its ailing property market. u.s. futures slide after the fed's waller warns of more rate hikes. ftx faces a criminal investigation in the bahamas over the collapse of the crypto exchange. sam bankman-fried is said to have been interviewed by local authorities. plus presidents biden and xi are set to meet for the first time as the two leaders look to ease tensions, the first time since the pandemic. francine. francine: let's look at the futures. for the moment, they are flat. european stocks futures gaining 0.3% and there is a lot going on that is happening in our part of the world in asia. i am looking at dollar and treasury yields rising because we heard from a fed official and he did not mince his words. tom: yes. we know they are concerned on they want to those financial conditions to continue to tighten. we have not seen that the last few weeks with the rally we have seen in equities. the context is it is down 1

. ♪ >> this is "bloomberg: early edition"" with francine lacqua. francine: welcome everyone.

executive director spoke with francine lacqua in egypt. >> indecision of cutting 2 million barrels per is someone who follows the opec-plus countries was on -- was unprecedented. countries wanted to see higher prices, but when they understood that it wasn't enough, they behaved more responsibly in the markets. but this time it was such that they may be regretting that very decision. alix: speaking from the cop 27 conference prayed i don't know if they will listen if i dig into the details of the report from the u.s., huge stockpile build the diesel and gasoline problem on the east coast is the real problem inventories of the lowest since 2012. a similar story in europe and therein lies the problem. heading into the winter and an oil embargo. guy: you wonder with the midterms behind us whether or not the u.s. could restrict exports of crucial diesel at the united states into europe. it's a china story as well. i wonder whether there's a wider macro signal about what's happening over the last few days. it's been rolling over, pay attention to that. interesting to see maybe that's a leadi

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i'm francine lacqua in london tom mackenzie . tom: global equities had were the highest level in two months as the fed highlights downshifting plans for rate hikes. e.u. talks stall over a great price cap for russian oil, while energy ministers meet to bridge differences over natural gas. plus, binance warns of more contagion following the collapse of ftx, saying crypto leaders must share the blame for the follow-up. >> i reflect on the ftx situation, and i blame myself for tweeting that too late. as an industry, we let ftx get too big before we started questioning some of those things. francine: plenty more from our interview with cz. this is what theaters are looking like. happy thanksgiving to all of our american viewers. we will be more subdued in terms of liquidity because u.s. stocks are closed. and we look to minutes from the fed to give us clues. tom: a gift arguably, the bloomberg economics team saying surprisingly dovish comments from the committee. the staff highlighted the 50% risk of recession. there is consensus wit

bizarre as everything i have seen between the fed press conference, andrew bailey's interview with francine lacqua. i love what michael mckee told me this morning. in the tech austerity we have seen, we are seeing freezing, not layoffs. maybe that is the distinction. >> we are seeing freezing at amazon but layoffs elsewhere. i think we are all asking that question. we can see as we look around but we are not seeing in any data. same with inflation. what is the lag time? >> one of those -- that the foul has at the fed, they have to be watching the news flow we see in the press this morning. >> this morning -60. >> if you believe this is a yield curve that foretells the potential recession ahead, it is flashing serious red signals. how much can we see this going back to early 1980 and getting steeper and steeper in inversion in a way we have not seen so are. what does this mean about the depth? >> you can do this off the bloomberg terminal. i took a conventional moving average and here's what i can say. the twos, conversion with the twos coming up is now greater than losing average of the paul volck

tom: francine lacqua with the governor of england. new york time. tom: -- jonathon: a four hour time difference. tom: four hours see? jonathon: we go from est to gmt. tom: our bloomberg washington correspondent, anne-marie, when we come to washington next week for tuesday and wednesday, and i hope and -- i hope to darken the door of martin's tavern, brief us on what is the difference for republicans between 51 senators and 54 senators. how big a difference is that? annmarie: that would maintain this control. there are number of issues the democrats were able to get a hold of -- get ahead of and vote on because they had majority in the senate. the senate is really what it's going to come down to. the house, the projections really show that republicans are going to win there. but whether or not they can gain control of the senate, that is going to be key in depending on how we wake up the next morning, on wednesday. we may not actually even know. but it is a big deal. if democrats are able to maintain control of the senate, it is a comp