emmanuel cau, head of european equity strategy at barclays stays with us.will dive into the latest economic data from china, which did show signs of a continued slow down and a worrying new study on the effectiveness of the sinovac vaccine. all of that is next. stay with us. this is bloomberg. ♪ ♪ tom: welcome back to the open. we are 20 minutes into the european trading day. you still see gains of about 0.5% across the benchmark stoxx europe 600. the futures in the u.s. pointing to gains of 0.2%. technology is the outstanding sector across the european space . little bit less, you've got energy and basic resources. the chinese economy slowing further in november, dragging down by a worsening property market slump and disruptions from repeated covert outbreaks. investors are betting on further policies apart from beijing after research showed that the vaccine made sinovac, the dominant shot in china, does not provide enough antibodies to neutralize the omicron variant. let's bring in bloomberg's chief asia economics correspondent. let's start with the econo

coming up on this program, barclays, goldman sachs, j.p.all plan to boost bonuses as banks seek to gain an age in the deal boom -- an edge in the deal boom. more on that next. this is bloomberg. ♪ anna: this is bloomberg daybreak europe. i'm anna edwards live in london. for your first word news update, u.s. health officials are backing the use of pfizer and moderna vaccine over johnson & johnson's shots. this after u.s. regulators announced revisions to the j&j vaccine fact sheet to warn of a rare clotting syndrome. bloomberg has learned the bank of montreal has expressed interest in buying the u.s. business of bnp paribas. sources say bmo have held initial talks with the bank of the west unit, which has a book value of about as of the end of $14 billion september. a wave of foreign lenders have been exiting u.s. retail banking as of late. airbus handed boeing another defeat. the franco dutch carrier has agreed to buy 180 ne-yo aircraft from the playmaker. the order is worth more than $10 billion before typical industry discounts. that's ju

coming up, we have the take on fed policy from barclays. this is bloomberg. this is "bloomberg markets ," i'm matt miller. investors facing a wall of worry when it comes to the fed announcement. you have got a lot of problems with the omicron variant. huge inflation, cpi and supply chain issues and the next guest says the fundamentals still look good. joining us now is brad rogoff. we welcome your optimism. what's behind it? brad: you cannot deny the worry that you rolled out in terms of the worry. we don't fight the fed as we move spread tighter. the fed, loosening with, -- with quantitative easing. now that we are going in a direction, we can't ignore it. we are sitting here looking at margins that are peak margins, incredible considering the inflationary pressure we have had for several quarters and we look at fundamentals from a leverage standpoint, we are close to if not back to four q 19, making us feel better about the prospects for credit matt: in 2022. corporate credit had on rough go of it, looking at ig or junk over the last few weeks. why have inv

barclays why did you sell it?loan is actually slowing and it's really tied to that may be connected with brexit in that the loan business is slowing and when that happens, that has a impact on return on equity so we see the return on equity for barclays at around 8%. usually around 10. so this is one of the companies that had a lower outlook and so we decided to sell barclays. now this is part of our american depository receipts. so this gives investors a way of getting exposure to the international market and we saw better opportunities relative to barclays >> you also sold rogers communication. >> it's a very competitive market in the telecom space. there are several doing quite well we decided to hold those and sell rogers. also, rogers is being impacted by netflix the streaming business is really starting to impact rogers communication. this allows us to go into some other companies that are very attractive such as german-based s.a.p if you think about software, it ties everything together for a corporation fr

bank peered 25% expected at barclays. when you look at the trading desk, last year was a year where we saw incredible volatility. traders made a lot of money for their banks. this year, it was m&a and investment banking that drove profits we are expecting some of them are going to see us is down from what they were last year. taylor: in addition to covering investment closely, you have covered jp morgan for a while. the average worker at jp morgan, the median pay is $80,000. meanwhile, the president has a $20 million bonus over a span of three years. how does that play into next year where we have seen these concerns about disparity before, is that brewing? >> is a great question and something the banks are dealing with on the banking side is last year there was a record year for trading. they did not compensate the traders as well as traders thought they should have the whole economy is dealing with a great resignation. now the banks have understood if they want to keep this talent after bankers have been killing themsel

we want to discuss that with jeanine wai, senior e&p analyst at barclays -- senior enp analyst at barclaysn you build on that line for us, please? jeanine: sure. inflation concerns continue to be rampant. in the last segment, i know you talked a lot about it. it is really going to put a spotlight on both capital discipline and efficiency. most investors think inflation will exceed the 10% to 15% that our companies have been talking about on our last earnings call. higher inflation equals higher capex, and that is clearly bad. but the name of the game in energy is still capital discipline, and therefore we just don't think our companies are going to chase production growth if inflation runs ahead of what they expect. the wildcard is really inefficiencies. companies think they can offset inflation with efficiencies, but we are in the later stages of that for the industry, so there is a lot of skepticism on that. kailey: how does that feed into your expectations for dividend payouts and buyback action? jeanine: the key is capital discipline. if you have capital discipline, we have a very posi

mike gapen of barclays.t a pay rise which means they will work up until christmas and mike gapen is going to go home. isn't that how it works? lisa: i love that. "i'm a u.s. economist." we will call you if the bank of england hikes rates. jonathan: negative about half of 1% on the s&p 500. we are down about 150 on the nasdaq. -9/10 of 1% and we give up some of the move on 10 year yields. now up barely one on a 10 year. lisa: to me the idea that stocks might be more vulnerable to high inflation rates is interesting. perhaps bonds were already priced in, and stocks have not really gotten on the same page. it is something you and i have been talking about with respect to why stocks have not responded more to the movement over the past couple of weeks. jonathan: you and i have clearly spent too much time together. i got this message moments ago, my computers went crazy, fusion done. that is terrifying. lisa: absolutely terrifying. here is the question. jonathan: just the important part of this. the s&p 500 futur

oil and gas exploration from barclay's. >> energy was not expected to be the top performing sector when we started this year, why do you think it's rallied so much and can it continue. >> thank you for having barclay's on we do think there's healthy upside from here with the stocks it comes back to the fact we're tra transitioning to phase two of energy's show me story that means we're establishing attractive cash payout yields to investors. that means that investors can start capitalizing future dividends, buybacks into valuations to cause the stocks go higher. these payouts will lead to solid sponsorship in the sector which we think is lacking right now in the stocks in terms of how much it can go, if you look on a valuation perspective, our stocks, they're discounting still 18 to 21% disconnect from where the commodity is right now so we think there's a fair amount of upside here. >> oil went from $45 to 76 for wti crude, you expect prices to go up more and every part of the energy trade worked this year, the drillers, refiners, producers, which part of the energy market do you like

hsbc, standard charter, so barclays will be facing some tough competition.utely right. it is not just those two banks you mentioned, standard chartered, hsbc are stepping up in the region, but you have the likes of j.p. morgan, citigroup coming into the region as well, focusing more on china as the chinese president opens up that economy, which is a multiple trillion dollar economy and business for the banks in that region. haidi: our bloomberg asia finance reporter in sydney. let's get you a check of the business headlines. morgan stanley's asset management division more than doubled the size of its japanese portfolio, aided by an increased appetite for funds strong on esg. investment management rose to $58 billion. assets worldwide are worth around $45 trillion and could grow to $50 trillion by 2025. gamestop shares fell after a reported mixed third quarter earnings. results showed a larger than expected loss, but sales were above estimates. that rose $1.3 billion. the companies says it has tried to frontload investments in inventory to mitigate supply cha

jonathan: let me get the conclusion from barclays. the bear case is the easy one, but we believe fundamentals being absent from the major list of concerns, credit will be there. is there anything to be concerned in high-yield credit and credit broadly in corporate america? brian: the high-yield market has behaved reasonably well. you have seen spreads behave a little bit amid some of this uncertainty, but corporate fundamentals look good. if you look at leverage in the market, if you look at corporate debt to total market could revalue, it is where you would expect to be coming out of a year after recession. it is not spiking up to the levels that are disconcerting. if you look at lending standards amongst banks, it is not problematic, so there are none of these indicators that suggest a recession is in the offering. we want to watch high-yield spreads. if they start flowing out, that will tell us something more ominous. they are up a little bit but still low from a historical perspective, but to me, that signals all clear on these ma

we're joined by head of european economic research at barclays.as laying out for us some of the restrictions, some mobility restrictions going to places in europe as cases rise, as the new variant spreads. what, in your estimate, will be the impact on the economy if we continue to see these types of restrictions in europe? >> morning and thanks for having me here. look, it is not easy to assess right now because obviously, it will depend on how much this variant is or is not affected by vaccines. now, will -- what we will compare it to is the beginning of next year, worst possible case scenarios. back then, we had a very low fraction of the population that had two vaccine shots in europe. and we had a decline in quarterly growth rates for two consecutive quarters of about 2.4%. now, if this omicron variant if the vaccine is still effective to some degree, the impact could be much less than this. so far, we are expecting a decline in our growth forecast, which was extremely strong to q4 and q1. but we see the spread of the variant more as a downsid

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bradley rogoff of barclays has seen a choppy credit markets ahead.e wrote, "we expect the trend of higher volatility to continue through the holiday season and into the new year." collin, is the biggest risk to high-yield now some of the volatility? collin: we think it will be more volatility as opposed to a sustained drop prices. what makes us a bit concerned is the ongoing supply chain bottleneck. i'm optimistic that those can improve in the new year, now with the new covid variant and more restrictions overseas, that continues to be a risk. when you look at a lot of the lowest-rated companies, the junkiest of the junk, they have those ratings for a reason. they may not be able to withstand anything that throws a wrench in their business model. that continues to make us concerned there. one area of opportunity with our clients at schwab is preferred securities. we have seen a reversal from the post thanksgiving spread surge and a lot of spreads and prices are back to where they were a few weeks ago, but not so much in the preferred market. preferre

. >> reporter: we spoke to this 30-year-old lauren barclay in her hospital bed she said she was working the factory line when the roof started to rip off. >> we heard the wind pick up outside, our ears started popping, and i looked at my best friend megan that worked with me, i said there's a tornado. >> reporter: she ran for the bathroom and remembers going airborne. >> you were launched in the air >> we wound up six or seven feet from where we were standing. >> reporter: the ceo spoke with nbc's kate snow, said no one was forced to stay or work the night the tornado hit. >> if you knew the weather was coming, was there any thought to suspending production? >> if we believe we could do anything differently, in hindsight, i think all of us would do something different. it is a gamble to say leave. last thing you do, they say don't get in the car. that's what experts say. >> six workers telling nbc news they were told to stay, including kimberly hendrickson. >> did anybody give you the option to go home after the first alarm? >> no. >> do you think that was a mistake? >> yes, they should

has my lackey, the nice them for the data fact can be much fellowship at the kita at 630 barclay pick up where he ma kenyon meg and the evidence that he had data. so give me a film, you know, my goodness, she but the trout career melinda mcnish out of contract. the thing you meant to be doing it a motion for me today and the american olives in normal talk and hate the few fat. i don't talk to minute and clowns who asked to talk to me on the on the chrome hoffman and the telephone digital friend. and we've been all over the day and costume for another year. and now you're sort of banking and that is out of the body. and adam thought, addition i then i know why that i would love all the days of your dimension and just wanted to rest mark sean combs and shivers o'clock out here. just wanted to ask vincy devices with her to come. erica fitz middle car, vigilant nick about with, with over almo activation. and i used to open up the slide more and i said it could. you must says if she says mr. moore dear, we met a cream and they had a cam can. can you know, she would be about a moody and so

has my lackey nice to them for the fact can be much fellowship at the air. keeta at 6 sal barclay pick up where he ma damian, meg and the evidence video data media film, you know, mcnish. she but the semi clear enough mcnish out of her contract. the daughter saying i meant to have been able to get a motion for me today and the american olives in normal talk and hate. the few fat are don on talk to met and clowns. f who asked to talk to me on the on the chrome hoffman and your telephone digital phone. and we went all of the day in costume for my guys. and now you're sort of banking and that is out of the body. and the addition that i don't know why not i would love for over a couple of days, or you mentioned that and just wanted to arrest more caution. combs and clock out hillock just for those of us as communities you do. i see all the time to come. erica fits mid look. are very unique about it. over almo activation, and i talked my dog and that slide more. i said it could be as if mr. gilmore, dear me ma'am. we're dealing with monopoly. how can can, can you know, he would, it could be

the nice them for the data fact can be much fellowship at the kita at 6 sal barclay away to pick up where he ma janie and mary ann kay evans video data. mia film, you know, mcnish she but the semi clear enough mcnish out of her daughter kenya. i meant to be doing it as motion for me today and the american olives in normal talk and hate the few fat or don on talk to met and clowns who asked to talk to me on the on the chrome hoffman and telephone digital phone. and that's when we read all of the day and costume for my guys and now you're sort of banking and that is out of the body. and the addition that i don't know why not i would love for over a couple of days or you mentioned that and just wanted to arrest more caution combs and clock out hill just for those of us as convenience you devante omitted to come . erica fitz medlock are very unique about with, with overall almost aggravation and i used to open up the slide more i said it could be as if mr. gilmore, dear me ma'am. we're dealing with monopoly. how can can, can you lotion would be about them would be since i'm so dumb my pension

and what is great about, as i said, it's face barclay, but it's completely natural. so it's free from any plastics. lawyers can't imagine making their cosmetics without micah. that's why they decided to hand pick their supplier in india. they chose a distributor who was able to provide assurances that his micah only comes from minds that don't use child labor. although in the sector, it's often difficult to determine where the material originated with our suppliers is one supplier that often the manufacturer that also works directly with the minds that also of the audits of the minds that has been independently audited as well. and that is where we gain that confidence. mike is used in a wide range of applications. the biggest buyer in 2015 in terms of market value was the electronics industry, followed by companies that added the mineral to paints. and like, as mike also finds widespread use in the construction industry and of course it plays an important role in the cosmetic sector. every day command debbie and her son toil away to help satisfy the global hunger. f

and what is great about, as i said, it's face barclay, but it's completely natural. so it's free from any plastics. lawyers can't imagine making their cosmetics without micah. that's why they decided to hand pick their supplier in india. they chose a distributor who was able to provide assurances that his micah only comes from minds that don't use child labor. although in the sector it's often difficult to determine where the material originated with our suppliers. it one supplier that often the manufacturer that also works directly with the minds that also of the audits of the minds and has been independently audited as well. and that is where we gain that confidence. micah is used in a wide range of applications. the biggest buyer in 2015 in terms of market value was the electronics industry, followed by companies that added the mineral to paints and lycos. mike also finds widespread use in the construction industry. and of course, it plays an important role in the cosmetic sector every day come on, davie and her son toil away to help satisfy the global hunger. for

and what is great about us as said, it's face barclay, but it's completely natural. so it's free from any plastics. lawyers can't imagine making their cosmetics without micah. that's why they decided to hand pick their supplier in india. they chose the distributor who was able to provide assurances that his micah only comes from minds that don't use child labor . although in the sector, it's often difficult to determine where the material originated with our suppliers is one supplier that often the manufacturer that also works directly with the minds and also of the audits of the minds that has been independently audited as well. and that is where we gain that confidence. mike is used in a wide range of applications. the biggest buyer in 2015 in terms of market value was the electronics industry, followed by companies that added the mineral to paints. and like, as mike also finds widespread use in a construction industry and of course it plays an important role in the cosmetic sector. every day come on debbie and her son toil away to help satisfy the global hunger. f

when lloyds of london, barclays bank, the royal bank of scotland, the midland bank, when all of thesencial services sector, the banking sector, all admitted that their companies and corporations rose up from the foul environment of slavery. what they wish to do as a consequence is to tell us what they are going to do about it. and so they put what we call something on the table, an offensive public relation act, to say we will put £1 million in this community charity. but they're not talking to us. they might not wish to talk to us right now, but they will have to talk to us sooner or later, because the consciousness here has been awakened by historical discourses, by the realisation that this long journey, this 394—year journey with the british monarchy has done us harm. we have not had any benefits to be associated... what harm does the queen do as being head of state? she's a very benign presence. no power. look at what happened to the windrush people. we fought for the british empire in the second world war, we kicked the butt out of hitler and his third reich, we won the war, the

goldman sachs joined the party yesterday as well as jp morgan, barclays, expecting a rate hike of 15s. i december rate hike had been in the back before, because of the strong jobs data, inflation data, now you have policy committee members, even the most hawkish one saying they want to wait for clearer data on the variant. even if bank of england holds off, it will only mark a delay, not a change in strategic direction. manus: we are all at the mercy of covid and the risk of monetary policy. lizzy burden thank you with the latest. 11:00 a.m. today u.k. time, the latest manufacturing figures in south africa and where the variant will hit production. it will be followed by economic data from turkey. that will be key. dani: certainly. also key, a little later after, 1:30 p.m., we will have u.s. data including inventories and initial jobless claims. at 4:00 p.m., the federal reserve bank host a summit that will include acres from kashkari , later on today, president joe biden jose summit for democracy. we continue -- one of the risks that was highlighted by dudley, the fed is more hawkis

the law that iran will reduce his commitment to the agency because a nuclear scientist, moss, and barclays, other was assassinated in november of last year. they said these acts of sabotage are aimed at trying to get iran to come to the negotiating table in a weaker position. and they would, they have actually managed to do is really put iran in a much stronger position according to the officials there. so now the main issue here has been that there was a lack of access, according to this agency and carriage at this facility was one of the seeking points that was stalling these nuclear talks. now we reach a point where i, we will see really what the main issues are if there are any other than the technical aspects of returning to the j. c. p. away until now all the parties were saying, including the americans. that's the way news. we're not being forthright with giving their right amount of access to the nuclear agency, which polices the nuclear deal of 2015. so now with this announcement which was made in toronto, it, we will expect it to be some kind of movement along these talks, which

we've just been hearing the cabinet office mr stephen barclay will be chairing a meeting on workplaceilience today as well as the regular briefing the prime minister will be getting. before christmas he was having these meetings on staff resilience daily to get an update from different departments and they will —— they last met four days ago. we will update you on those various briefings today when we get them. let's take a closer look at the covid rules and restrictions in scotland and let's hear from our correspondent in scotland, who sent us this update. it's all about hospitality and indoor public venues. that means pubs, restaurants, theatres, museums and even gyms will have to have one metre spacing between each group. groups can contain no more than three households and where alcohol is served, table service will be required so you can imagine the knock—on effect there on pubs will be felt greatly because there can be no more drinking at the bar. nightclubs also will be shut unless of course they can use distancing and table service and operate essentially as a pub. the scottis

damn village can like, like barclays, that is in this region. baron river and rough river, which can help the people of bowling green. and audubon, which can help the folks in muhlenberg county. we already have a $104.00 adults and 2 kids, a penny rile itself and the people of dolphin springs town, that half of which is leveled its, opened the 1st responders and volunteers as well. and let me thank all of them every single one for what they are are doing. they've helped us clear roads and, and ultimately to have even knocked on doors where they stand to check on people. we want to thank the rest of the country for your attention, for your help, and for your prayers. we've needed them and we're still hoping as we move forward for some miracles, to find more people and hopefully have a lower death count than what we expect. i wish i understood why we've gotten hit with the pandemic historic ice storm flooding and now the worst tornado in our history, all in a span of 19 month. what i do know is that in kentucky with good people and we care about one another, that's why people are out i

this was a kind of a barclay, and nor olympic feet of sewing and to find people who could do it. they looked to the so, or as they were called, that they already employed her. of course, on that bronze girdle side. i even, i was like 2 side to the same warehouse and then these women were the ones who put the suits together and actually figured it out. and there were no drawings all the students. there was no kind of schematic drawing that told you how to put to put it together. the knowledge was really only in the fingertips of these women. nicholas says that during the research for his book and my grandfather's name came that the people from does that doesn't come up. is it something that was it? was it matlab knox case something that that seem to be very influential. yeah. oh. because in fact, the particular role that my reading of all these documents is, is that there to people kind of people in any organization. there are the people who, for the roles and other people who get things done. and allow for rules to be mostly followed. and i think that your grandfather's seems to

be able to pay monthly installments as a result of a new tie up between the online retailer and barclayspurchases of $133 or more on amazon will be eligible for the new payment method. buyers will spread out the cost for three months to four years. shares of rivian automotive are tumbling afterwards earnings report as a public company. it expected to fall short of its annual target and the eeev startup be short of its goal by the end of the year. that's your bloomberg business lash. guy: thank you very much. the rivian slump is continuing. i think we are down about 15%. they are only missing by 300 vehicles but it is a big chunk of change. sanali: a few hundred vehicles out of 1200 is 25% of the vehicles they were supposed to make. you've got to wonder where the patient investors are when it comes to the near term pickups. guy: this going -- this is going to be something that all companies have to deal with and rivian is trying to make these vehicles for amazon. they're trying to get everything lined up. it's super tricky to mass-produce tv cars. every time tesla had a production up date

visit findyourindependentadvisor.com >>> barclays has a note out showing that livian has fewer deposits than either tesla's cybertruck or ford's f-150 lightning. it says the deposit count is only 8%. it's not a dollar figure, because -- >> you have to put more down there's a fantastic piece about which had the best numbers you could easily day you can walk away from a ford or easily walk away from a tesla i think it comes down to that rivian is amazon, ford will sell its rivian stake, put more money into its own ev, and tesla has one plug of the truck. tesla has huge numbers of fan people mold buy whatever tesla puts out, including an old hess truck made into a tesla. tesla could coupme out and maken earthmover and theywould have hundred,000 subs >> water was the gas that actually used real water >> that's what we thought steve jobs wanted the car to run on. >> hydrogen -- green hydrogen would be quite a move. >> what are you saying here? >> what am i saying where? >> what are you saying about rivian >> when the orders look good. >> you never say nothing. >> for you, jim, you're the one

board of barclays was a company that's been around for 360 years you take a step back and look at thetorical context of these corporations, they found through wars, pandemics, good times and bad but managed to stay afloat. i think it requires open-mindedness, judgment complex issues to shift and do the job as a fiduciary the custodian of these important organizations so listening more than speaking i think is a key take away but also really appreciating by the time something appears on the board agenda, it means it's extremely difficult if it were easy, somebody else would have solved that. he knew about these issues in the broad perspective and not just ideological there's only one answer kind of way. >> it breaks down a couple of big issues. what they are and how they operate, ways for the future and the big issues playing out now. i want to first look at one thing you said, i'm going to read from your book. quote, the changing time is more indispensable than ever. how has that changed in the last year? there in a global pandemic, i would love to hear what this last year has meant a

that's a new tire between the retailer and barclays.chases will be eligible for the new flexible payment method. buyers can spread out the cost from three months to four years. the dutch restaurant delivery company is launching a trial partnership with the british grocer. consumers will be able to order from a selection of up to 1000 items. that's the bloomberg business flash. guy: thank you very much indeed. that's been a long time coming. they are a little behind in the race to be competitive. many were already doing that. the challenge for the restaurant sector is where have my customers gonna? and where have my staff gone as well? never a big restaurant chains are saying we're not taking any more bookings because we can't get the staff to deliver on what is happening here. it's amazing. you are starting to see people not getting to work. there is a labor surge. the hospitality sector is being hit hardest by that. sonali: guy: this week, you get get a -- sonali: this week, you couldn't get a table. people are starting to work from ho

barclays, jp morgan and others, plans to boost bonuses.will find out who will be getting the big paydays next. this is bloomberg. ♪this is bloomberg. ♪ tom: welcome back to the open. we are almost 23 minutes into the european trading day. a handoff from the u.s., heavy losses. in europe, losses of around 0.3 percent. the one index with modest gains is the ftse 100 gaining 0.2%. autos in focus. prices falling and banks as well, lower by 0.4%. let's get to another corporate story linked to what is happening in the banking story. our cleat is the latest bank to put in place plans to boost bonus following moves by j.p. morgan and goldman sachs as they seek a competitive edge in the tight labor market. still with us is alberto. they need to hold on to talent. how do you read what is happening in terms of the bonus payouts and whether the banking sector will be able to maintain the edge in terms of talent in employees is a look to an environment of high yields? alberto: it is a very difficult topic because the environment is not great for salari

barclays out with a note pointing out what is pretty logical in that the global economy is in a much better position to deal with a scary new variant than it was through the delta variant door original outbreak of the virus. there are therapeutics and the government is getting more aggressive with vaccine mandates. and just learning to live with these shocks from the outbreak of the virus. all the previous headlines over the longer term about the delta variant -- i think the omicron headlines around thanksgiving were a shock and we are now taking a more sober look. matt: followed by jay powell's pivot to a more hawkish stance, that seems to me to be a big headwind. even if the fed raises twice, we are only 50 to 70% basis points above the line. it's not going to be a huge damper to economic growth, is it? michael: it seems like the fed has moved to the hawkish side of the boat. if there is a worse headwind from this new variant, there is room for this to come back and be a little more dovish. the fed is going to overdeliver on what is signaling. as far as the meeting next week, fed c

. >> almost nobody on the brooklyn bench tonight at barclays center. look at that." >> trevor: oh, no, not this shit again, guys. not this shit again! you remember the last time? one week, we were like, "huh, lots of n.b.a. players getting covid." and the next week, we were all at home showering with our amazon packages. i mean, so many players in the n.b.a. are getting covid right now that they're gonna have to change the logo. in fact, there's so many players who have it, that i actually feel bad for the players who on the team were hanging up on the without you. the one thing i don't think they should be doing is cancelling games. yeah, i said it. everyone hates that. and i get that the teams have barely any players left, but, like, just make them play anyway. i don't know about you, but i'd watch the hell out of a basketball game that was one on five. could you imagine watching a football team where the quarterback has no offensive line to protect him? the jntsz already do that? that doesn't seem safe. so this might end up great for the fans. in fa

and what is great about, as i said, it's face barclay, but it's completely natural. so it's free from any plastics. lawyers can't imagine making their cosmetics without micah. that's why they decided to hand pick their supplier in india. they chose the distributor who was able to provide assurances that his micah only comes from minds that don't use child labor . although in the sector it's often difficult to determine where the material originated with our suppliers. it one supplier that often the manufacturer that also works directly with the minds and also of the audits of the mines and has been independently audited as well. and that is where we gained that confidence. mike is used in a wide range of applications. the biggest buyer in 2015 in terms of market value was the electronics industry followed by companies that added the mineral to paints . and like, as mike also finds widespread use in the construction industry. and of course, it plays an important role in the cosmetic sector. every day come on debbie and her son toil away to help satisfy the global hung

the likes of barclays saying we could have a lift off in may of next year.sy graseck at morgan stanley has another idea of what this could mean for the banks, raising the outlook for goldman and wells fargo, saying the firm looks at credit concerns, and the prospect of higher rates are a prospect for bank stocks. tom: as you know, betsy graseck is one of my favorite people on the street. she is a legit japanese scholar just like robbie feldman for morgan stanley. betsy graseck writes the most detailed bank reports. every sell side analyst is different, and betsy graseck is a numbers person. every paragraph is loaded with facts and details. that is the tone that we see here, going to dovetail economics into what we see on the street. with us, working on her itinerary as she moves from the fenway bowl at the university of virginia to the music city bowl in purdue, and finally crescendoing to the peach all as well, are the politicians going to be in session during the bowl games? emily: that remains to be seen. you are hoping you can get the debt build on, get

well, earlier today cabinet minister stephen barclay said the chancellor had met business leaders who more financial support. he told the bbc the government would "say more about this later today". more on it in a moment, but first this report from our political correspondent damian grammaticas. under the microscope now, not the virus, but the government's approach to tackling it. where many were hoping for clarity ahead of christmas, there is instead uncertainty. covid cases are surging and borisjohnson and his cabinet met yesterday, but they have yet to decide on any of the key questions. are new covid measures required for england? if so, how soon and how severe? we agreed we should keep the data from now on under constant review, keep following it hour by hour. and unfortunately i must say to people we will have to reserve the possibility of taking further action to protect the public. so for now, the vaccination drive goes on, but no new restrictions. several ministers in mrjohnson�*s cabinet are reluctant to see more enacted, concerned about the effect on the economy and wanting

barclays talking about may. others, march. it's coming together off the back of a conversation at the fed about qe. i wonder how much the chairman pushes back against that next week. he wants to build flexibility, not a one-way treaty. tom: optionality. and he will say we have to wait for the data. let's say we get 7% inflation. lisa: can he honestly say we are coming and and waiting for that data? i do not think so. jonathan: i think we will accelerate the taper, then do that. lisa: they are building optionality so lincoln hike rates -- so they can hike rates. jonathan: if they want to, but not necessarily if they are going to. you think it is flexibility? tom: it is the chairman. lisa: there is always flexibility. jonathan: you want to explain that to chairman pound next week? tom: i will -- chairman jerome powell next week? tom: i will. or mckee will. jonathan: this is bloomberg. ♪ ritika: the u.s. and europe are considering top financial action against russia if vladimir putin invades ukraine. the country will be targeted,

lizzie: goldman joining jp market -- morgan and barclays.the most hawkish members of the monetary policy committee are saying they want to wait for clearer data on omicron before hiking, so with these new restrictions, it seems like that is the nail in the coffin. francine: it does seem like it. let's talk a lot more about the u.k. and the fallout. johnson's former press secretary also stepped down as the government spokesperson after a video of her joking about the party. >> does anybody have any questions today? [laughter] i went home. [laughter] >> with the prime minister condone having a christmas party? >> what is the answer? >> i don't know. >>'s cheese and wine all right? it was a business meeting. [laughter] it was a business meeting. it was not socially distanced. [laughter] >> people were doing everything to obey the rules. i will regret those remarks for the rest of my days and i send my profound apologies to all of you at how. francine: tim, this is the third time around where we have a member of government or someone in boris jo

be able to pay in monthly installments, as result of a new tie up between the online retailer and barclays. purchases of $133 or more on amazon will be eligible for the new flex of a payment method. buyers will be able to spread out the cost from between three months to four years. a key european authority has issued a key negative opinion on biogen's controversial treatment for alzheimer's disease. in june, the u.s. regulators approved the results. i'm leigh-ann gerrans. this is bloomberg. ♪ ♪ >> there could be hopefully the last phase of the pandemic turning to an endemic that we could then manage on a seasonal basis with the technology we have. we are not seeing it in our bookings in a material way. some international, yes. but it is something that i think come over time, we will look back and it was another step to get healthy. tom: i will not mince words. in my pandemic travel, the best service has been mr. bastian's fortress, delta of atlanta. trying to manage the message for all of us into the holiday season. jonathan ferro on sabbatical. caroline hyde in a beleaguered london. helan

and what is great about us aesthetic face, barclay, but it's completely natural, so it's free from any plastics. lawyers can't imagine making their cosmetics without micah. that's why they decided to hand pick their supplier in india. they chose a distributor who was able to provide assurances that his micah only comes from minds that don't use child labor. although in the sector, it's often difficult to determine where the material originated with our suppliers is one supplier that often the manufacturer that also works directly with the minds and also of the audits of the mines that has been independently audited as well. and that is where we gained that confidence. mike is used in a wide range of applications. the biggest buyer in 2015 in terms of market value was the electronics industry, followed by companies that added the mineral to paints. and like, as mike also finds widespread use in a construction industry, and of course it plays an important role in the cosmetic sector. every day command debbie and her son toil away to help satisfy the global hunger. for micah, they never h

barclays looks for three next year, four in 2023.ut in 2023, morgan stanley saying patients, q1 2020 three. most of wall street is in and around may, june, july for that left off of the federal reserve. what i think will be more important here is to work out not would lift off is, but the repast looks like from then onwards. do they need to do more? rates right now are deeply negative on a real basis. that is the two-year sorted out. let's talk about the yield curve. twos-tens coming into this year, 79 basis points. then we started to steepen as we priced in the positive demand stock. all of that enthusiasm about the year ahead, the curve was steeper into the end of q1, and now we are staring down the barrel of the flattest levels of the year so far. if you are the federal reserve right now and you are thinking about making a move or at least retaining that optionality, how keen will you be to make a move with the yield curve moving in this direction? tom: i would suggest there are phd's at the fed as well that are talking about oil.

looking at the fed calls, barclays for may, goldman for june, bank of america for june, bnp for june, citi for june, jp morgan for september. td was looking for september 2023. they are now looking for march 2023 lift off. i am pleased to say that priya misra of td joins us now. what that -- what brought that call from september to march of the year after? priya: it is about economic data and the fed reaction function. we got a clear sign from chair powell, and i would argue from that november fed minutes that came out last wednesday. the market did not react maybe when we were cooking and eating right before thanksgiving. the fed was talking about salvation of taper when they announced tapering, so it really seals like -- really feels like there is inflation. the market once >> ability which is why omicron -- once flexibility, which is why they want to be done with taper. why we are much later than the market is because we are not extrapolating from the current data. a lot of post-delta surge in the economy. as the fiscal drag kicks in next year. we have growth slowing, inflation slo

hometown club bristol the football association has signed a new three—year 30 million pound deal with barclays and girls' football. here we go again, the second ashes test gets underway early tomorrow morning in adelaide. not much went right for england in brisbane last week, losing the opener by nine wickets. they did so without their leading wicket takers, stuart broad and james anderson, but both are in a 12 man squad. patrick gearey reports. it started with a mess. rory burns comprehensively balled first ball, england comprehensively beaten first test. so where next? go towards the lights. the match in adelaide will be a day night event paid partly under floodlights be a day night event paid partly underfloodlights and be a day night event paid partly under floodlights and entirely with the pink ball, and advantaging that file so significant they rested their greatest bowler to prepare for it. ,, . ~ ., , �* their greatest bowler to prepare for it. since i knew i wasn't playing at brisbane, i've _ it. since i knew i wasn't playing at brisbane, i've just _ it. since i knew i wasn't playing

kristen macleod of barclays, thank you very much. the s.e.c. is looking to tighten rules on swap positions to prevent trades. we will break down those details next. this is bloomberg. ♪ >> it is time for the bloomberg business flash. i am ritika gupta. shares of eli lilly are rising. the drugmaker has raised sales. they are expecting revenue to rise next year due to new product growth. the company is holding an investor event. an canadian court ordered it to pay $955,000 in damages. the british chain walked away from a takeover because of the coronavirus outbreak. it is the world's second-largest movie theater chain. that is your weight is business flash. alix: u.s. regulators are looking to restrict hedge funds and family offices from using complex derivatives to secretly build a huge stake in companies. it has fueled archegos capital management. walk us through what potential restrictions we could see and what that would have done. >> these rules are largely welcomed by wall street. this last regulation, archegos have built up so many positio