tell us why blackrock is donating to this food bank. >> thank you. here with my colleague representing blackrock. our relationship with the food bank goes back for many years, over a decade. it is great to have a partner that has so much impact on the community. we are delighted to support and proud to support the food bank in its mission to and hunger in san francisco and marin by providing access to nutritional food to those in our community who are suffering from food insecurity. >> reporter: let's see just how much this check is for. blackrock is donating to the san francisco marin food bank $150,000, which is going to go a very long way, but also, your employees do a lot of work for the food bank. >> we are so proud to support the food bank. beyond this donation, it is the employee time we are excited about. over the last 6 years, we've had employing employees volunteering over 1300 hours. we are so grateful. >> reporter: what does this mean to you and the people you serve? >> this is fantastic. blackrock, thank you. it takes a community to work

saudi aramco has agreed to sell 49% of its natural gas pipeline business to a group led by blackrock.audi backed investment company with $15.5 million. will saudi -- this adds to the narrative of a monster deal. what have they sold? kiran: it is a big -- paul: it is a big deal, one of the biggest in the persian gulf. they have sold leasing rights of the natural gas pipelines to this consortium led by blackrock, controlled -- and the investment firm controlled by the saudi arabian government. blackrock is getting a sizable chunk of infrastructure assets that makes a lot of money and is stable. the money will come from a tariff aramco pays to use the pipelines. it will still control them and own 51% of them, it is guaranteeing a minimum throughput. it is a stable asset and long-term as well with the 20 years of leasing rights. dani: is this a sign of things to come and are we likely to see more deals similar to this in the future? paul: the saudi's are using this as part of the plan to open the economy more and attract more foreign investment. they are certainly looking at energy assets

let's go to ursula marchioni, blackrock chief strategist in emea.is hard to think of you in the markets in 2022 without having a strong view of where inflation is headed. what our clients talking to you about? ursula: thank you so much for having me. if using about talking to clients in the themes that are pervasive at the moment, there's two huge ones that are closely connected. clearly, one of those is inflation. to your point, it has been a theme throughout the year, but what i am noticing is the urgency to act for investors has clearly accelerated, and rightly so. we speak about how to restructure asset portfolios. there is not one asset class in those allocations that does not need to change at the back of this new regime. just to give you some examples, the average across all of these port folios we receive, within about applying the blackrock view to how that allocation to change and preparing for the next years. we are looking at 3.5 times the current allocation to inflation linked bonds. we are looking at sick can we hire allocation to chin

so take a look at blackrock. it traded more than 24 times its put volume and that was the result of a large put spread the week of january 28th the 740/720 put spread it was spreading about $ .65 i don't know that they're necessarily administration huge bearish, but on blackrock, per se, this is a great proxy generally. and choosing the 28th is an interesting time frame right after expiration why is that? we have the january fomc meeting taking place on the 25th and 26th this would signal to me a similar bet to a 15% down side bet on the s&p >> that's interesting. guy? what do you make of blackrock? >> january 14, i think they're due to report earnings about 21 times next year, the stock is sort of lower left, upper right. 12, 13% eps growth this is an interesting play. you wonder if it is a bearish bet on the market. i love when they drop this stuff. that's why i tune in every friday evening at 5:30 p.m >> either that or you have your vcr taping the machine >> well, yeah, that. >> maike, thank you next friday, w

jeffrey rosenberg with us with blackrock.t to talk about systematic edge responsibilities at blackrock. i do not care about systematic even out into january. how are you managing allocated capital to the middle of next year, say july 28 fed meeting? jeffrey: this is a really good question because what we are debating is the bigger picture away from today's report is the fed is talking about the accelerating the pace of tapering so they can accelerate the pace of tightening. markets have priced that in. a lot of that changes with us. the bigger change we all have to contemplate is the impact on real interest rates. you have had a spectacular level of support for active inflation across all markets, whether they be financial markets or otherwise from exceptionally low levels of real interest rates. the fed is basically saying it is time to change that outlook. we should expect a very different financial market outlook in an environment where fed policy is reacting to the exceptionally accommodative settings of negative real int

for us at blackrock, the u.s.ons are structural in nature and therefore are going to persist. that will be true for years to come, maybe even decades to come, almost regardless of who happens to be in the white house. the structural nature of the tensions are real, but for us in 2022, we think we can see something of a lessening of tensions, frankly, because both sides are so busy domestically. clearly, very important political years both in the u.s. with the midterms in q4, and china, an important critical year as we all understand. it seems to us the tensions will persist for years to come, that is kind of the mood music for the foreseeable future. however in 2022, we think we could see something of a tempering, just because both sides are so busy minding their own stores with domestic calendars, we think we will see more focus. shery: what to the domestic narratives in china mean for the markets? how positive and supportive could that be? we saw the pboc turn a little more easier on monetary policy, not to ment

still with us is wei li from blackrock investment.t picking up from this story, how challenging is it for you in the theme of blackrock now to make the argument that you need increased exposure to chinese markets when we seem to see, and are witnessing, a greater decoupling of these two major financial sectors? wei: well, the didi delisting headlines certainly indicative of tension, especially tension in technology between the two superpowers, in a word. and also more growth, longer-term hawkish policy kind of pivot in china on greater social objectives toward greater social objectives. the reason for us to be moderately constructive on the chinese market on the technical basis at this point is really around this thesis that growth is deteriorating into the year end heading into next year. and next year is a significant year for china, not listed in the part of congress, not listed in the olympics. we can't let go through the floor what is acceptable, and policy will be incrementally easier on the monetary front, on the fiscal front,

joining us now is target chaudhry -- is gargi chauduri, head of investment at blackrock.o you expect to respond to it? gargi: very exciting days for those of us who look at inflation markets, which is everyone these days. i think we are probably going to get something that is a little bit stronger than what the market is pricing in, and when i think about the core data, i think what will be important for us to look at is the breadth of the strength. sending back to the summer, you will remember most of the strengthen cpi was coming from those reopening sectors, so whether you think about travel or things like that. we saw there was a little bit of a broadening out. we were seeing strength in of goods and services inflation, so i am looking forward to seeing more of that, more strength in some of the goods parts of the market, as well as services such as shelter inflation. lisa: where is the opportunity for investors, given that we have seen inflation rise at the fastest pace since the 1980's, with likely coming from the fed next year? gargi: i would say a couple of things

i'm sorry, blackrock, my apologies. >> yeah, it's blackstone.s low rate environment we can look for what we call a third leg of the stool, and that eastern strategies. blackstone is the preeminent alternative strategy manager in the state. private equity, private credit, private real estate, very different than the typical bank. obviously, stock has been on a tear, but we think they've got much more future growth. they're growing ark um at a 25% clip, and their top-hasline groh has been as well. lauren: retiring though. >> that's true. they've got a lot of key executives in place, and i think they're set up really well for this environment where investors are seeking yields to overcome inflation. the traditional treasuries, traditional muni bonds, after inflation their real yield system so low. you've got to look for different areas to capture yield for diversification -- lauren: what do you make of markets this week in. >> today is a perfect example of what we think is there there's o come of, which is volatility. the last couple of weeks, the

taylor: is that fundamental, or as someone at blackrock is putting it, there is so much yield seeking capital still out there that it can absorb any quick tapering of those bond purchases? is that were technical in nature? -- that were technical in nature? -- that more technical in nature? matt: there is certainly technical support but certain indicators are structurally higher, telling us there is a chance this could unhinge either way. that is what is different. there is two way rest. if inflation does not moderate and you seem a push from wages, not just lower quartile baha'i report tile, you could have the curve steepen. that is fundamental, overrunning the technicals you referenced, but in the absence of a sea change, the technicals are incredibly strong and that's good for the equity market. the low discount rate helps equity valuations and that is what you are seeing this afternoon. romaine: consumer spending being a primary thing affecting our economy, still holding strong, but when you look at the data we are getting on retail sales numbers and private industry data, do you h

i am so pleased -- marilyn watson of blackrock. i'm so pleased marilyn closed the conversation with normal. what is normal in this environment? tom: global wall street understands marilyn watson word for word. we have a couple of other audiences that may be heard some greek there. that was absolutely brilliant on what you do in fixed income when you are not making the coupon, you have forgotten about total return, and you are managing to not have price go down. the keyword word she said was dispersion. there's a dispersion of choices you have to make to try to be sure yield up, price down, bad outcome. jonathan: what did we call it, risk management into year end? lisa: people have made so much money in 2021. tom: have they and bonds? lisa: they have not in bonds. that is probably why you are seeing government debt outperform. but in credit, they have, and in credit, certainly the riskiest credits, perhaps people are ticking the chips off the table. jonathan: it is that line that always annoys me, the easy money has been made. i don

people to take on more risk and that's we you see that loop back around as an outrage lately because blackrockbuying up single-family homes to take those opportunities away or competing with the average home buyer. and then as a middleman and then with taxpayer money so if you think about it it is part of the huge wealth transfer happening both on the fiscal level and money going to big businesses on a monetary policy level that rates of value they're getting more capital to the big guys with another advantage in the market and it is just unprecedented. in terms of is just so hard to hesay. but then there was the huge cryptopush that is why there so many people looking to bid coin or at theory him or the other assets because they feelve like they cannot trust the government or the fed which is cause i government. because the fed is standing by ready to purchase the debt. it is a global cycle because it is intentionally opaque and complicated to understand, by design people are saying we need to reign this and liketo it's a bad thing for an economy. and the biggest of the wealth transfer. >> th

blackrock saying the elemental may get a bid in 2022. and the turkish lira back in focus. further losses of 2.6%. another record low. inflation in that nation of 21%. another cut to the interest rates. an unusual policy mix. francine: so diplomatic. it took a while to break the 14 psychological barrier. this is what we are looking at for the sector is. technology stocks not as heavy in europe. travel and leisure, losing the most peered technology down 0.6%. a mixed picture. european stocks down 0.1%. tom: broadly down. focusing on individual stocks. airbus, another deal in less than 24 hours. this follows the deal that airbus got with qantas. a big coup for the airplane maker. stmicro, apple bringing some of the semiconductor making in-house. sdmicro down 1.3%. statlantis. stellantis teaming up with some of the lenders across the euro zone coming down 0.8%. francine: stoxx 600 opening lower. some of the world's policymakers weighing in on the inflation debate. >> the economy is so much stronger. inflation running well above target. >> inflation is expected to remain elevat

blackrock is acquiring luxury apartments in manhattan.e in advanced talks to acquire a residential tower for 900 $30 million from brookfield asset management. it is the latest in a series of recent that's on the staying power of new york's buildings. a tennis player denied accusing a senior party official of sexual assaults. the eight minute interview was the first time she directly addressed the allegations since concerns about her safety last month. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. dani: thank you. laura wright there, in london. global dealmaking in the middle of a historic boom. it is the highest level of m&a since before the financial crash into thousand of them. here to wrap up the 2021 action is our senior u.k. correspondent and u.k. deputy chief. can this record pace of dealmaking continue? ruth: we are seeing central bank governors talk about hiking interest rates. they were historically low, which was one

blackrock and morgan stanley among those racing to offer software that can create a unique, custom indexry investor and let them buy sell shares directly. christina lee wrote today's big take story. long live the anti-etfs. is that the message? christina: if you kind of pay attention to the name, it doesn't sound a bit reminiscent of an etf in the sense that there is still the world -- word index there, but it is typically adding stocks like the s&p 500, so you still have a personalized portfolio on the cheap, and at the same time, you can sell individual stocks so you can essentially harvest tax losses to offset your capital gains tax. dani: why is it winning more assets and leading to a string of deals as well? justina: that's a great question. this is not exactly new. it seems to have gotten an upgrade lately and i think that's partly because trading has gotten cheaper. it is more convenient to offer this. technology has gotten better. i think there are some people in the industry that feel like how anymore etf's are we going to get at this point? it is time for the next big thing, an

blackrock saying the dollar is the best hedge against downside in the equity markets. everybody has a different rationale for why they see their stronger or weaker dollar. it's not consistent. jonathan: you have lived it time and time again. how many times have we gone the dollar call wrong? tom: what i loved about ashleigh oakes hart, she has a trading history. the way that you lose money is not broad, you lose it when the bid walks away and you were like, oh. she has lived that. the tentativeness i heard from her on where we are going is the day that they battle for bid and ask. jonathan: it has been difficult, whipsawed over the last few months, particularly if you are exposed to the turkish lira. the euro-dollar looking something like this, 1.1258. futures are positive. there's a lift in the equity market. and cruise up. -- crude is up. it's risk on as we get back to work. lisa: yet the 10 year yield is at 1.45%, despite the fact that that people are pricing in two rate hikes next year. jonathan: we be even more. barclays talking about may. others, march. it's comi

a group led by blackrock has agreed to invest in saudi aramco's natural gas pipeline. it holds a 20 year leasing right. the plane as part of saudi arabia's efforts to open up to foreign investment will using the funds to diversify its economy. tesla shares rarely -- shrugged off early losses yesterday. a probe into defective solar panels. a whistleblower says tesla failed to notify shareholders. the latest ev maker, the probe appears to be related to a blank check company which took the project back in july. the sec has opened probe into other makers. francine: let's get into the key drivers. with us today, thank you for joining us. risk on, by the dip. >> it is a testament to how jittery markets really are and how it can turn on a dime. all week last week, we were talking about the risk markets are facing from omicron. now, markets are looking forward to new catalyst, specifically what we are seeing. francine: we have only had encouraging news so far today. >> absolutely. what is really telling from the china news is that they are focused on stability. i think a numbe

lisa: the idea to me of blackrock, when he came out and said he's increasingly going into the dollarthe dollar because it is a great hedge for stock volatility, it has been the most reliable hedge. how much of the action you are seeing in the dollar really stem from macro bets looking for some sort of reliable hedge? kriti: i think you nailed it there. even in 2020 the inverse correlation, you had the dollar essentially feeding into equities. the dollar lower, stocks higher. essentially, foreign investors could not make it easier to happen to the stock market. tom: she's been here for a cup of coffee and she's already siding with lisa. do you see how she said lisa nailed it? jonathan: taking you on early on. lisa: you guys are trolling. [laughter] tom: this is a one-day show with kriti gupta. kriti gupta, think you so much -- rudy he go to, thank you so much -- kriti gupta, thank you so much. damian sassower gives us the brief this morning. an open-ended question to you. what matters on this thursday? damian: i think all eyes are on the turkish lira, especially after erdogan replaced

according to vanguard and blackrock, they think declines could continue next year as inflation eases.ally, losses are followed by gains but the warning is that might not continue. looking at the euro-dollar, we have been fluctuating between gains and losses, having a hard time finding direction and we have the dreaded unchanged on the euro-dollar. the dollar matt heading it for its best year. matt: thanks for that. dani burger with an excellent look at your markets. let's get to david wilcox, director of u.s. economics research app bloomberg economics, and david, i was thinking as i read through your notes, it would be great if you could explain for us, as we mark the unofficial two-year anniversary of covid, how the u.s. economy has performed during the pandemic. david: thanks for having me on. it has been an incredible macroeconomic journey. the collapse in march and april of 2020 was unlike anything any living economist has seen. with the unemployment rate reaching a level close to 15%. that was well on its way toward great depression levels. that proved to be a brief collapse and,

kate moore blackrock, david kelly, erin browne, a monster lineup into the next hour. catch up with the outgoing ceo and incoming ceo of southwest. i know you want to talk about what they have to discuss in this labor market. lisa: the idea that they cannot hire people but they cannot keep people in their seats. attrition has been a big thing. brian moynihan was talking about that with david westin. how much does this disrupt service? you can tell us about this after your experience going back to london. how much is their problem with airline services given they cannot people back into seats? jonathan: think i've given you idea of how i feel about this. lisa: i think you need to elaborate about travel. jonathan: i will not call out the other airlines. gary kelly coming up later. kailey, that airline, some of the worst hiring conditions they've ever seen. kailey: that goes to show the peculiar nature of this labor market. the jobs are there. where are the people? jonathan: inflation data coming in basically in line. from new york, this is bloomberg. ritika: the coronavi

lucky to have the best of the world, tiger, insight or true venture in early days more recently, blackrockso, we are very, very happily with our course. and certainly no constraint. the only regret there's a huge wordpress movement including some watchers right now that aren't able to own any equity. but for those who would want to buy the stock but it's not available, i guess you have two options you have to be able to write a $100 million check or come work for the company. they're excited by this mission of what it can create for the next decade. i encourage you to come and apply for a job. i'd love to work together and like for you to own the stock. >> i like that you touched on that matt, thank you very much. maybe next time we'll see from you the rv, but enjoy the rest of the holidays with your family >> good. we'll schedule from the rv next time >>> meantime, cathie wood's ark fund down 20%. we'll talk about what's driving that underperformance after this quick break. stay with us (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength

ago, now it's a big boy, so it's a spac, and d-spac and google, coke, strategic, time ventures and blackrock. revenues probably about 130 million this year, 190 million next year, profitable, hopefully by 2025. third one is xxii, 22nd century group. these guys are losing money, but what they sell at very low nicotine cigarettes and what the health ministry of new zealand just did is they are trying to make cigarettes basically illegal and a lot of pane and asian countries are listening and even joe biden is listening so even though these guys are negative and they don't have a lot of sales right now, if things go their way this thing could be the ugly duck that turns into a swan and it's only a $2.29 stock for those that don't have a lot of money. liz: interesting. gentlemen, great and thanks for the trip back to 1982 and e. t. and reagan. all that fun back then for those who were actually alive. great to see you both have a good weekend. fox business alert, we've gotta look at oracle here. it is hitting a record high after the enterprise software maker gave an upbeat forecast. the companies

between christmas and new year's, but there's the opening bell and the cnbc real-time exchange it's blackrockple, guys, is the fact that they're closing 12 of their new york city stores. we've tended to look at a few specific corporates as sort of bellwethers as to how industry is dealing with covid restrictions apple was a big one. i remember the day in march of 2020 when they closed stores doing it again on a temporary basis. the other, of course, is goldman, requiring boosters. i know joe talked to scaramucci and mick mulvaney about it in the last hour beginning in february and goldman has required vaccines for all of their staff really going back to august. but the banks are having to wrestle with this. maybe more than every industry other than, say, logistics and freight. >> yeah, and i'm also thinking about those new rules, if you want to call them rules, from the cdc and how it's going to impact jobs in new york city since we're talking about a lot of the banks you have thebooster requirements in new york city. as you said, carl, with goldman sacks, i'm also thinking about the nba and

and the s&p 500 has annualized like an 18% return so, i don't know where blackrock thinks we're gettingdditional compensation for taking those additional risks but i would say that she's gravely mistaken >> the chinese currency, though, is at the strongest level since 2018 kyle, we're out of time. >> okay. >> final really quickly, do you have a really quick comment on that >> yeah. i mean, china still has a closed capital account. and they've got all of the passive flows from the msci indices and the bloomberg aggregate bond index they've got so many dollars flowing in that blood flow to grow the tumor that at some point in time the united states is going to realize that we shouldn't be funding the chinese communist party's genocidal actions and their actions against u.s. investors >> kyle bass, thank you very much we appreciate it >>> campbell's soup reporting earnings this morning before the bell beating on the bottom line, missing on revenues. we'll ask the ceo how inflation and labor challenges specifically factored into these results. the stock is up slightly you're watching "closi

they are already companies already getting a lot of pressure, from the esg investment firms like blackrocktible of environmentallyly friendly don't invest in i will companies they are perfectly fine going and unopening shopping in china human rights abuses ccp keeps stealing intellectual property, i wonder, if you are going to see companies actually come out and support, patriotism american values, i spoke with enes freedom boston celtics star pushing back on china i asked if he got deals. >> unfortunately zero, it is a shame all this companies are scared you know scared because they are doing too much business with chinese communist party in china, and they know that the moment that they give me any -- that all business will in china will be shut down. maria: can you imagine andy he has been, are out front on pushing back on bad behavior of the ccp so far no o american company has come to him said i want to back you endorse you -- >> i wish i were running the company could use him in ad when i ran ck-- we did opposite whatever mainly competitors were doing distinguish yourself a guy appea

. >> mainly sector basically build brands that go after a foil blackrock -- completely woke come to marketon "fox & friends" we highlight businesses that share those values always great talking to you thank you. >> good talking to you will. will: pete, rachel join us. rachel: christmas is coming time to think about -- the menu the barbecue classic holiday for us barbecue. >>. thank you both for being here. >> thank you for having us. >> how segment happens you were talking about challenges you face, barbecue, you are great guests. >> thank you. >> i said the barbecue is coming object i didn't have a lot growing up in minnesota elsewhere i see it, so he, thank you we are so happy to bring to texas, for all of you, a brunch who doesn't love a barbecue bruch, easy everybody wants to instagram everything, you take a picture, then you come and dig into it, something for kids avocado toast, all that. >> a christmas into instagram with just making it -- >> this is -- 1941 you go -- >> that is right we are, generation, married in this meeting that is why i am here. >>, i grew up, up with this i wa