barclays earnings break eminently. we will speak to the bank's ceo, jes staley, plus, the chief executives of nestlÉ, daimler, and airbus. let's take a quick look at futures this morning after the drops that we saw yesterday. we see not a lot of direction today. ftse futures up 0.1 percent, dax futures down just marginally. if you take a look at u.s. futures after the mixed picture in their cash close yesterday, you will see red arrows across the board. credit suisse reported a narrower loss in its fourth quarter than expected. we've been speaking to the ceo, thomas gottstein. thomas: we had a very strong investment banking result in 2020 and we had a very good start in january. it is too premature to make a prediction for 2021. we feel very good about our growth opportunities on the investment banking side, but also especially on the private banking side, be it in asia, switzerland or iwm. francine: there was a bit of a blip in 2020. how much are you expecting volatility to be back in the next 8-9 months? thomas: unfo

barclays on the slate as well.arie: we are going to speak with jes staley for the very latest news and analysis on barclays' earnings. 7:00 a.m. u.k. time and all the breaking stories alongside barclays and credit suisse. you want to go to the tliv blog. we have reporters around the world breaking down every single line that comes out of these earnings reports. and of course you want to turn it to bloomberg tv to hear from the ceos themselves. manus: absolutely. jes staley. if you have your iv, get a question in. it is your opportunity to join the conversation. a nice wrap up for us this week. as usual, you are driving the bus, changing the gears, looking after the show. annemarie: have a nice weekend. manus: don't break anything. ♪ ♪ matt: good morning. welcome to "bloomberg markets: european open." i am matt miller in berlin. the markets say it is time to weigh the implications of the recent jump in treasury yields for equities and the slump that followed. it's a big day for corporate earnings in europe. the cash

barclays had a strong 2020. however, the outlook from barclays, putting stock down circa 5%.ark, what do you think of the credit side for the banking story? people talking moving into bank credit, '81's etc. how much journey is there in that trade? mark: good point. we think there are good waves. bank credit is cheap. thanks have not been -- banks have not been behind the storm in this recession. banks are incredibly well-capitalized, very high ratios. consequently, when you look at the tier one instruments, you look at the triggers embedded. you would need to see a massive erosion in bank capital before you hit those triggers. one of the things that strikes us is there is a big discrepancy in terms of how tier one and tier two credit spreads are priced. we expect much more convergence. more gently, if you are investing in high-quality banks, the very junior part of the capital structure, you are investing in credits, which are relatively safe and also insecurities that don't have a lot of interest rate duration. one part of the credit market we really like. asset allocation,

michael gapen joins from barclays.this kind of data solidify a barclays call for buoyant economic growth? michael: it certainly does help. we are looking for growth to be solid this year and what this tells you is when fiscal stimulus arrives to household balance sheets it does get turned around fairly quickly and materializes in economic activity. this is largely attributable to the aid package packed at the end of last year. we suspect will be getting around a $1.5 trillion aid package by the middle to the end of march. this means we should see a rapid acceleration in demand and household spending as we move into the second quarter, which could be continued if vaccinations continue apace and mobility recovers over time. it does confirm our expectations about growth for this year, at least initially. there is 11 more months to go. lisa: can you connect retail sales and a one month pop after passing a stimulus plan to longer term growth? how neat is that line? michael: i would not say it is entirely neat. there are a l

cnbc's rahel solomon live outside barclay's center in brooklyn hi, rahel. >> reporter: hi, shep.arclay's center looking a little different on this game night than perhaps in years past fans actually went in a different entrance through these covid tents we will show you in just a moment, but, of course, the nets have had an incredible season it is a huge night for new york sports fans and new york in general. this is the first time paying fans, real people, not cardboard cutouts, will be here at the arena in about a year. fans we spoke to out here in brooklyn say it is a once-in-a-lifetime experience. >> just excitement, man. i can't wait especially this is -- you are never going to see a game with like 200 people and all of this nba all stars playing with each other. >> 300 fans. what can be bad? and we're going to win our sixth straight game. >> reporter: now, to be clear, it is about 300 fans, and lots of protocols for those fans. of course, they will have to socially distance, they will have to wear mask. they were sent in-home covid tests. they have to show a negative test r

joining me now isjim winters, head of fraud at barclays.t about these stories of people being scammed and told they need to pay for vaccines et cetera from the nhs, it is pretty shocking but not surprising that fraudsters are trying to make some money right now. , ~ , . trying to make some money right now. _ ,. ., now. yes. we saw such a significant _ now. yes. we saw such a significant rise _ now. yes. we saw such a significant rise in - now. yes. we saw such a significant rise in the - now. yes. we saw such a - significant rise in the number of scams last year. as you said, about 66% in the second half of the year alone, that we are on a mission to raise awareness for the problem. we are asking people not to be embarrassed and to speak out if they think they are being scammed or if they have been scammed or if they have been scammed to share their story with family orfriends with family or friends so other people might avoid the same problem. 50 people might avoid the same roblem. ., , people might avoid the same roblem. . , problem. so w

nbc's gabe gutierrez is at the barclay's center, which is reopening. good morning. >> reporter: hoda, good morning. it is the urgent push to get back to some sense of normalcy new york state is allowing arenas to open at 10% capacity, and the barclays center is rolling out new testing protocol, as the nation struggles with its vaccine rollout. a moment of silence heard loudly ♪ as he paused to acknowledge the 500,000 americans taken by covid-19, president biden is warning the fight against the virus is far from over. >> let this not be a story of how far we fell, but how far we climbed back up. we can do this. >> reporter: on the vaccine front, officials say by mid-week, the country will have caught up to the 6 million doses delayed because of winter weather. put super sites like san diego's petco park are still shut down because of no supply governors across the country are frustrated. >> we just need that supply from the federal government. >> reporter: as more and more americans line up for their shot, new hope that a return to normal is near at the

a negative test results before they are allowed in and a lot of protocols for the arena like the barclayster and madison square garden, some of them limiting the capacity to 10% and also the department of health has to sign off on reopening the lesson is among the 13 nba teams that are allowed limited in-person attendance the ceo of barclays tells us, the center at brooklyn is among the strongest. >> concession stands will be closed and you will order from a qr code, team merchandise will be closed, you will be able to have team merchandise delivered to your seat as well >> reporter: we talked to dr. steve moore, he tells me he personally would not be at a game tonight, he says it is not the arena he's not concerned about. >> there will be people bunched up getting in and out of the subway it is a real temptation to congregate and getting together with your friends and strangers who feel the same way about the particular event >> reporter: governor cuomo's office here saying the success of reopening these large arenas will set the path for smaller arenas shep >> let's go brooklyn thank yo

barclays allowing 300 tonight. to attend a game, fans need a recent negative covid pcr test. rapid tests will be available at the arena. masks and social distancing will be required. >> you can see the seats that we've designated as socially distant seating pods, groups of either two or four. >> reporter: and we're here at barclays center, which could be a vaccine site sometime in the future. the biden administration is sticking firm to that timeline of 600 million doses by the end of july. these adjustments we're seeing by the vaccine makers are what need to happen in order to meet that deadline. david? >> all right, eva pilgrim with us tonight. eva, thank you. >>> from capitol hill now, we heard alarming testimony today about the deadly riots at the capitol. police answering questions now about the lack of planning, some saying that the intelligence from the fbi came too late. the former capitol police chief testifying the criminals, quote, came prepared for war. here's our chief justice correspondent pierre thomas tonight. >> reporter: in washington today, the three men in

the boss of barclays says britain's banking and financial services industries should now focus their's most important sectors the opportunity to set its own agenda. our business editor, simonjack, has the story. it's not everyone's favourite industry, but financial centres like canary wharf are home to arguably one of our most important. this industry employs over a million people across the uk. it's nearly 100 times more economically significant than fishing and pays a whopping 11% of all taxes paid and, yet, was almost totally ignored in the brexit deal. financial services, one of the uk's most profitable, most successful and most innovative industries and, yet, on january 1st, this sector was essentially handed a no—deal brexit. and yet, in the corridors of these financial palaces, you do not hear the same alarm that would have caused in other industries. why? it's about size, power, and the fact that the eu is not really the competition. jes staley — wall street veteran, now boss of barclays — says the post—brexit focus should be global, not european. brexit gives the uk the oppo

the boss of barclays says london's financial rivals are now new york and singapore — rather than frankfurt paris. brexit gives the uk the opportunity to define its own agenda. on that new agenda — the uk's betting on free ports to drive trade and investment. today's the deadline for bids to set one up — we hearfrom one of the applicants. plus— airborne transmission. drone maker wingcopter gears up to deliver vaccines to remote areas. we start on wall street where the stock market rally continues — with the s&p 500 and nasdaq closing at new record highs. america's top companies are reporting better than expected results. the senate is inching towards passing president biden�*s $1.9 trillion stimulus package. and there's been another fall in the number of americans filing forjobless benefits — a sign the labour market is stabilising. there are still huge problems facing the world's biggest economy — but investors believe the flow of cheap money from the federal reserve will keep on coming. the biggest problem isjust that we have 20 million americans who are still in some state of receiving u

hundreds in confidence putting up with modest spotted offers and called to touch is the name of barclaysdoes theatre piece which premiered in 2020 at the munich can. it depicts a dystopia where touching is prohibited and where the dark effect of isolation i visible to the lot of many of you people are definitely becoming more restless dissatisfied and frightened. and i feel like societal tensions are on the rise as some people are going to be crazy and following conspiracy theories. so i do feel as if there's a higher level of madness right now and that we're not grounded and. can ski at a time. it's ironic that the more we socially distance to keep safe the more insecure we feel. staying apart is the opposite to how we normally act when we are afraid any comfort. or not these are having to navigate this overall difficult situation we are in without being allowed to touch others leads to more feelings of fear and uncertainty and to negative feelings about yourself we are less afraid when we have physical contact. the pandemic have a lasting impact on what we think is appropriate closenes

for more, let's bring in barclays economist john chang.he new export order numbers but also contraction marking its second biggest on record. how much of the sluggishness in this numbers a fundamental issue with the chinese economy? guest: the manufacturing ratio was below consensus 51 but close to our 50.5 forecast. in our view, the moderation lacks a seasonal weakest -- weakness during the chinese new year. if you look at it compared to 2018, the pmi fell by more. but the latest data, the moderation is less than the whole lunar new year related seasonal weakness. the government policy encouraging people to stay local for the new year. shery: we have the national people's congress starting this week. what's the most important thing you will be watching out for? this year we did not get the annual growth target. jian: last year was a new situation. i think number one thing to watch for is the fiscal policy. how low, how much moderation in the fiscal deficit. that is one area we are focused on. the second is whether china will announce a gd

fabrice montagne, barclays chief u.k. economist, joining us to discuss. the prime minister laying out the plan. he says it is a cautious one. what impact will it have? fabrice: i think we already are seeing some impact, because the announcement by the prime minister might be the headline of the day, but what we have seen in recent weeks is the continuous improvement in public health. we saw it last week in the household confidence as well. hopes are high that this improvement in public health translates into higher engagement socially but also higher engagement economically by households and businesses. that will only intensify now that step-by-step the economy is reopening, and we should see all various indicators that we are following -- for instance, credit-card spending ,to pick up aggressively in the coming weeks. let me stress that regard of the various steps and dates announced today, it boils down to whether or not households are confident and that relates to the state of public health and caseloads per day, etc. as long as that is improving, and

joining us is barclays european energy research directing manager.ht position on bp price targets. lydia, disappointing. how disappointing? lydia: the word they describe to use it is disappointing. what everyone was looking for was a net debt number to come down, but it is hard to see it below the $38 million level and invent -- the $38 level, and investments have come down. that going up respect -- they are guiding them using a $45 to $50 oil price which is below where we are. it is a indication that bp is a work in progress. alix: a year ago is when bp unveiled this strategy they have. how long does bernard looney have to show the street he can make money off of this new strategy? lydia: it is important -- i think a lot have been made of the plan to put the fuel reduction by 2030 and does that translate to lower cash flow and pretty clearly the answer is no. we should see margins improved, but it is at best 2021 we see delivery, actually seeing profits improve, seeing costs down, all of that will come through the year and is important we start to s

football a say they give each of a country has to come for us i don't know why you need oh you know what barclay yes but we are also citizens of neon mon we know people have relied on each other in this moment the kind of people from sports up participating in this revolution that god will probably do about it. the players say they'll continue to resist until democracy is restored one thing is certain the government has nost the dressing room no no no no no. in russia supporters of giles opposition leader alexei valley have held another day of protests over the ongoing crackdown against his supporters and kremlin critics authorities have threatened to arrest those who defied a ban on demonstrations and so activists have been using flowers and flashlights to show this solidarity with victims of political repression. as dusk fell the lights in the so-called flash flood protests went on across russia supporters of opposition figure had alexina valmy switched on lights in a display of unity in the siberian city tomsk the protests motto love is stronger than fear shone down from the window of an apar

t last night at barclay's center. >> we started like everything other employee to get in, with a rapid covid test. taken no later than 72 hours before tip-off. once arriving on site, take another test that takes six minutes, the results, returned dig tale. the general manager of barclay's center. >> we will be in an arena with 300 fans. >> new york state guidelines limited to 10% capacity. security, bag checks are touchless. food and drinks, all prepackaged. >> i liken it to 9/11. >> we are finally here. >> in madison square garden they welcomed fans back by the thousands. >> never been to a game in a 20,000-seat arena, with 20 spread out. >> i gri up going to knicks' games, being the person in the stands. >> he was. >> i had the opportunity to play on the floor, have my friends and family come out and watch me on the court, it is a blessing, new york is a basketball city. amazing. >> etch with only a few fans, allowed in, it didn't have the energy of a full crowd. but a sense of getting back to normal. 2000 into their game last night, under similar measures here at barclays, new york

they sought lower provisions as did barclays. there is that.hank you very much, dani burger giving us some of the stocks to watch as we approach the open for cash trading on this, the final trading day of the week. we are going to get more details on the company earnings, company earnings in general. we are going to talk to the cfo of natwest. as well as the cfo of swiss -- we still see very little happening in ftse futures. but of course that index will open first. the open on the other side of this break. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open, a minute to go until the start of cash equity trading. global stocks follow wall street lower amid the focus on bond yields. wti dips below $60 a barrel, as auto upheaval, volkswagen texas. follows daimler's lead as it considers a spinoff, but one way more valuable in sports carmaker porsche. renault poses a record loss as the carmaker warns of a difficult year ahead. and natwest resumes its dividends as britain's biggest corporate lender winds down its

the boss of barclays says britain's banking and financial services industries should focus their energy it's not everyone's favourite industry, but financial centres like canary wharf are home to arguably one of our most important. this industry employs over one million people in the uk. it's nearly 100 times more economically significant than fishing and pays 11% of all taxes paid, and yet was almost totally ignored in the brexit deal. financial services, one of the uk's most profitable, most successful and most innovative industries, and yet onjanuary the 1st the sector was essentially handed a no—deal brexit and yet in the corridors of these financial palaces you do not hear the same alarm that would have caused in other industries. why? it is about size, power and the fact that the eu is not really the competition. jes staley, wall street veteran, now boss of barclays, says the post—brexit focus should be global, not european. brexit gives the uk the opportunity to define its own agenda, and in defining that agenda around financial services i think what london needs to focus on is n

legal case, and barclays is resuming dividend payouts after earnings beat expectations but the reaction has been negative as you can see behind me, so that is it for europe, brian, continuing to search for direction but perhaps a little bit more red on the board today. >> certainly is. joumanna bercetche, thank you very much. have a great day. >>> all right. now to three big money other stories to begin your day. first, that growing crisis in texas. millions of residents remain in the dark as cold weather and another storm moves across the state. governor greg abbott yesterday signing an executive order directing natural gas companies to stop all shipments of gas outside the state ordering them instead to direct them to power stations within texas. mean meantime the electric reliability council of texas said it restored electricity to 1.6 million homes, but cold comfort for nearly 2 million families that still do not have power, and likely do not have heat. >>> fema has sent 60 generators to texas to try to power critical infrastructure and a nation of blankets, bottled water and meals.

almost in barclays you still need to learn india traffic the minority i wondered if the 2 communities some push you physically some on the left without the effort to see functional wouldn't listen bonnie jelani and the funny leak already. did not suppose you thought those 2000000 bonhoeffer's transfinite have been listed on the no my. photo preview been so gnarled. to meet the media and by noon still only. hours. i think. from memory the mother. earth. and riverton aren't just union which is just. so set up one is out and doesn't even know stuff in the persone. del dia is. if it. was it was saying. he quote. was he going to. reach mother earth we didn't know it. was. like when these 4 building was in the audience she. was shot in the media. is to their. minds or. did visit with them along with feel. when he would leave the. no. you do you. think you may know we. don't even know it's. just what he said you not out there. don't be. shown you are the only solution to the. muslim community here that you know. the more i do what i think. t.v. news you. leap out of your leaky to the media t

records in door dining is back in many regions too and next week the barclays center in brooklyn welcomes back nba fans >> reporter: americans have been asked to stay home, the tsa reports a spike in p passengers over the holiday weekend. >> we need it so much. >> reporter: for jacqueline lopez who lost her father, there is no way of going back >> go home, this virus is sosilent, you don't know where you are going to catch it. peace, stay safe >> reporter: a reminder of what's been lost and what's still at stake >> miguel, is it likely those variants are widespread than we know >> reporter: authorities do believe those variant strains are widely under counted and they expect the u.k. strain to be the most predominant in the country for a matter of weeks lester >> thanks. >>> outraged over andrew cuomo's decision to delay the release data of covid deaths at nursing homes. now he's defending that move. let's get more from anne thompson. >> reporter: today governor andrew cuomo tried to separate what he calls political spin from facts. >> the new york state doh has always fully and publicly

. >> reporter: barclays center welcomes back nba fans americans have been asked to stay home. tonight the tsa is reporting a spike in passengers over the holiday weekend. many eager to return to a sense of normalcy. >> we miss it so much. >> reporter: for jacqueline lopez who lost her father, carlos, there is no going back >> go home, go hug your loved ones let them know this virus is so silent, you don't know where you >> reporter: tonight a reminder >> miguel, is it likely those variants are more widespreaddely under than we know >> reporter: lester, authorities do believe those variant strains are widely under counted and they expect the u.k. strain to be the most predominant strain in the country in a matter of weeks. lester >>> outraged this weekend over andrew cuomo's decision to delay the data of covid deaths at nursing homes. he's defending that move let's get more from anna thompson >> reporter: governor cuomo tried to separate what he calls political spin from facts. >> the new york state doh has always fully and publicly reported all covid deaths in nursing homes an

barclay center in brooklyn has already received state approval to reopen for a nets game february 23rdead, celebrating valentine's day but safely. health experts suggest taking your date outdoors to decrease covid risks. covid risks. where can a healthier heart lead you? for people with heart failure taking entresto, it may lead to a world of possibilities. entresto helped people stay alive and out of the hospital. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren, or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. ask your doctor about entresto. it's totally normal to have constipation with belly pain, straining, and bloating, again and again. no way. more exercise. more water. and more fiber is the only way to manage it. is it? maybe you think... it's occasional constipation. maybe it's not. it could be a chronic medical condition called ibs-c, and time to say yesss! to linzess. linzess works diffe

. >> reporter: across town at the barclays center, home of the brooklyn nets, they're also taking a shot and making fans feel at home socially distanced couches and snazzy separated viewing areas. how much of a game changer is this? >> it's huge >> reporter: just 300 fans to start, before working their way up to 1,800 >> i think a measured and responsible way to try to introduce fans back >> reporter: fans are required to wear masks and have taken a covid pcr test less than 72 hours beforehand then after a temperature screening and a rapid test a green light to enter >> it's a massive building and we're used to having close to 20,000 people in here so we're going to have a lot less than that but i think it's the first step >> reporter: and it's not just sports. the first potential concert here at madison square garden is scheduled for late july lester >> all right thanks up next, i'll have some reflections on our state of the struggle >>> finally, as we near the end of black history month, this week nbc news is focusing on the state of the struggle. the push and pull along the winding ro

at barclays center where the nets played the kings, 300 season ticket holders. all required to socially distance, wear a mask and show two negative covid tests. in the race to vaccinate the cdc says 17% of the u.s. adult population now received at least one shot, and now endasie k me reports fda is set to allow the pfizer vaccine to be stored in regular freezers as opposed to ultra cold conditions. vaccinemakers say they're on track to deliver 600 million doses by july. pfizer ramping up production, and moderna now expecting to double its shipments by april. >> we are now targeting delivery of the second 100 million doses of our vaccine by the end of may and a third 100 million doses by the end of july, a full two months ahead of schedule. >> reporter: and johnson & johnson is set to release data on its one dose vaccine with emergency use approval expected as soon as friday. a good sign of progress. >> i'm so excited my smile under this mask is just huge. i'm so glad to be home. we're home, baby. >> reporter: meanwhile, in washington, the house is set to vote fr

jerry of government has released dozens of pro-democracy activists jail as the country prepares to barclay's 2nd anniversary of a popular uprising. the problem of journalists college it was among 33 people freed a very presidential party algeria's president of the day announced the move to appease the hit up protest movement which forced a leader abdel aziz beautifully cut from power in 29 team organizers are now calling for mass protests above date about the great complete overhaul of algeria's ruling system. nigerian officials say they're negotiating with an armed gang that kidnapped a group of students the exact number of those taken on wednesday is a hundreds of missing evidence just reports from a picture. caleb knows he's fortunate to be back home. he injured his leg escaping from a group of kidnappers who attacked his boarding school in niger just got a district his brother didn't survive he was shot dead by the gunman i see it on the way. but i was sleeping when i heard the kidnappers come into our dormitories they started shooting guns when i saw them i jumped over the pants other s

the boss of barclays says london's financial rivals are now new york and singapore — rather than frankfurtbetting on free ports to drive trade and investment. today's the deadline for bids to set one up — we hearfrom one of the applicants. plus— airborne transmission. drone maker wingcopter gears up to deliver vaccines to remote areas.

. >> reporter: at brooklyn's barclays center, 300 people will be scattered in red marked seats after negative covid test results. movie theaters are next up, they can open march 5, despite the fact new york city says the more contagious u.k. variant is has now found and nearly tripled the number of new cases compared to january. dr. anthony fauci says he's worried about complacency and warns masks may be necessary into 2022. >> in order to be extra safe, we may have to be wearing masks under certain circumstances. i was not trying to scare people. i'm saying we've got to be prepared. the variables are there, and we could get another surge. >> reporter: meanwhile, despite vaccine stumbling blocks, executives from the country's leading vaccine makers signaled today a turnaround is coming. >> we're on track to make 120 million doses available for shipment by the end of march. >> we're now targeting delivery of the second hundred million doses of our vaccine by the end of may. >> reporter: in all, the drug- makers say 140 million doses will be delivered just in the next five weeks, but t

yesterday, barclays reported a big drop in annual profits, and set aside billions of pounds for loansar results later, amid reports the bank is set to exit the irish market which it serves through its ulster bank unit. so what can we expect from them? joining me now is susannah streeter, senior investment and markets analyst, hargreaves lansdown major shakeups going on under alison rose. let's first hear about some of these rumours. ulster bank in ireland is the third—largest lender, what happens if it does go? we do know what happens if it does go? - do know that a strategic review has been under way and all the pointers to indicate that ireland's third largest bank is likely to be wound up. it's because it's really a source of trapped capital and its been delivering little or no return and with interest rates set to linger for longer it has little prospect of delivering more. we understand that allied irish banks are publicly preparing, if natwest does give the go—ahead for the wind down of the lender and there is still no indication of what will happen to the 2800 staff, very unset

people to use digital currency in the future than it will to be was there you know bank of england or barclays or the bank of america or take your pick out there digital currencies are faster cheaper more reliable and easier to use than traditional things people are going to wind up using them and that's what we're seeing happening around the world i thought you going to give a different answer because isn't there more to this this isn't like videos on a friday night this threatens dimensions based on ideology on politics and our concept of freedom itself some people go as far as saying that's why i asked about the central banks if more and more people do this when does that leave the central banks and therefore the governments that say they don't control the central banks but clearly have a relationship to. yet not now it's your chair anybody can be their own central bank now and then the hard part is convincing people to use your own central bank issue currency there so traditional central banks like the federal reserve or the bank of england their days are numbered people aren't in need the

unfairly suppressed by perhaps major international markets, and you can see why, big banks like barclayse time ago, all been fined for attempting to manipulate the gold or silver price, so maybe they are trying to get their own back again. what you make of this? these new phenomena of people are calling it david and goliath, the small investor fighting back? , ., , ., back? democratised financial markets are _ markets are good, everybody deserves a chance to put their money to work and get a fair return, and you just hope that the people who are now getting involved i doing it and are aware of the risks as well is the potential rewards because there is a big difference between investment, earning an asset for the long—term, trying to pick a fair value for a well—run company, and plunging around and speculating in trying to tie the movement of money and it's generally where we have seen accidents happen because this is not the first time it has happened in by any means. ., �* , time it has happened in by any means. . �* , ., time it has happened in by any means. . h ., . means. that's the

barclays, 4000. goldman, 4300. we got bullish very quickly. a huge move up of the back end of october. tom: do you extrapolate out single-digit, and what is the band you put around it? jonathan: i am laughing, but if you would have asked me that question at the end of last year, i would have said don't extrapolate the last few months for the rest of the year. but the small cap moves continue. tom: it is also the banks as well. it is not just the leadership or small caps. things that were dogs of dogs have rallied. lisa: you have a federal reserve that will tamp things down for the foreseeable future, says the market and federal reserve. and this is the tension. well inflation written that thesis? jonathan: the ultimate sell signal will be when lisa capitulates. are we there yet? lisa: capitulating to what, contrary renews him? not being gloomy? there is a difference between being bullish and trying to look around corners at what could possibly counter the narrative. jonathan: coming up, the texas railroad commissioner. tom: i am staying out of

from the last fomc meeting and thursday, an update on two big european banks as credit suisse and barclaysurth-quarter earnings. a big week ahead. this morning, all eyes on oil, climbing to a 13 month high with wti breaching $60 a barrel. this as a cold snap in texas is risking taking out some of america's largest shale caches. let's bring in will kennedy. over the weekend, quite worrisome what is going on in texas and this cold snap across the midwest. what does this mean for the shale patch? how much could be at risk? what is the big worry? will: the big worry is temperatures well below zero, they end up freezing up and not producing oil and it is hard to move trucks around the region in these temperatures so it is hard to supply the wells and get oil out of the wells. some estimates say in the short-term, 100,000 barrels of production which is fairly significant. the other issue for the oil market's demand. we've seen propane, portfolio -- it is used for outdoor heaters. propane sales are absolutely accelerating incredibly fast as people try to stay warm across the u.s. where we've got

next week, credit suisse and barclays.ing week sees numbers from hsbc and standard chartered. joining us now is the head of think research at city. great to have you this morning. how would you rate european bank earnings so far in absolute terms and versus u.s. peers? >> thank you for having me. earnings season so far has been really good. the news in the last week or so is that investors are looking at the sector again. we came into the year with a lot of investor interest there were some concerns around the economy, around the virus, and around whether the sector had run too fast in q4. political risk came down and there was a lot of interest in the sector. there were no big blowups in the earnings season so far. >> one of the things that stood out to me, there were some big standouts on our side of the pond in terms of investment banking. the french, some of the swiss. is that capturing market share inflow? what is the driver of that kind of found relative to the u.s., and will that old? >> the big picture for the last

in london, barclays has one a bitter battle dating back to the financial crisis more than a decade agojudge ruled the terms of the investment -- a year ago, job cuts as the coronavirus erected in new york. one by one, yesterday the bank of america erased assurances and said they were cutting staff in the global banking division. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm emma chandra. this is bloomberg. ♪ >> however travel changes, we can adapt. people are staying longer and getting in cars and traveling nearby. that is the travel people want with airbnb. they are saying they miss travel and it is not business travel and not standing in line to see a landmark. ms. spending time with family -- they miss spending time with family and friends. lisa: it is very real and they are trying to go on airbnb's. that is the ceo of airbnb and shares on a tear for a long time and responding on the desire for people to get away and be with other people. there is a question what the world will look lik

but if you look in the u.k., for example, barclays has data that shows a huge amount of growth, as welltforms. so, the attention means more people are interested. i've talked to hedge fund. managers about what that means what does it mean if you are trading in these markets? it is a torn topic. one said we've seen this before. perhaps it's not retail investors, but shorts get sweet all the time. i've talked to others who said he's not going to touch shorts in the u.s. right now. here's another call option frenzy. so many are buying calls because retail investors love this. according to goldman sachs, call option volume is 100 when he percent of the shares -- 120% of the shares. annmarie: joining us is fiona frick. really fantastic to catch up with you after these past two really crazy weeks in the market. the consensus on wall street is that these idiosyncratic events and gamestop and other mean stocks won't have contagion risk. but you believe there's a broader risk of d growthing, and it's greater than what is being priced in. why? fiona: because i think -- two things. first, there's

that was the barclays ceo on a better economy. i am jonathan ferro. here is price action.his out. equity futures down 16 off .4%. the underperformance is in the nasdaq down .8% on the tech heavy benchmark. keep an eye on that. but basis points at 1.28. the euro stronger and dollar weaker. tom: the data is something, and the state of the economic data we are focused on that at 8:30 and our simulcast we will have the claims report. we get an update from jason farley at johns hopkins, a nursing professor. he is an expert at epidemiology and his world-class research and aids care as well. thank you for joining us this morning. i want you to describe what it means to you to see the decline in hospitalizations across america. what does that signal? dr. farley: i think that we are seeing great signals of initial rollout for the vaccine, also, people are doubling down new data -- people are doubling down about wearing masks. schools can reopen, i think it is a positive trend for sure and the health care system is taking eight a -- a breath of relief. tom: is there a trend that you

we break down what that means kristin declark from barclays u.s. capital markets.ing up next. this is bloomberg. ♪ alix: this is "bloomberg markets." coming up, bill daley on balance of power at noon. such a great talker. this is bloomberg. ♪ i am alix steel. guy johnson over in london. ipo's really hot right now. secondaries are also hot right now. bumble is boosting its target to about $1.8 billion, the number of shares and the price range. joining us is kristin declark and sonali basak. there has been some serious animal spirits in this market for a long time -- what is the demand takedown? kristin: across-the-board on the ipo calendar, it converts everything across-the-board in terms of the etm product. the ipo's priced this year so far over 40%. every single stack is up trading above issue price. it is a strong market across-the-board. alix: does that mean spac is becoming so much of the volume? kristin: you are seeing investors really piling into the front end of the spac because they are working. even from the investors side, if 20% to 30% of the spacs did n