we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following for you from around the world. with inflation in full swing, the question is how long does it last, and how should the fed approach it? we will discuss the rate conundrum that once the deviled alan greenspan. and as the supply chain crisis continues, we will speak to lily shen of transfix on why infrastructure is critical to fixing the current issues. from trucking to biking, we take a deeper look at how peloton was able to reverse its selloff. all that and more, coming up. amanda: optimism around some of that data. retail sales being front and center, some reaction to that, although the pricing component will be for concern for some. other strong data supporting this idea of growth. we are seeing growth stocks back in the driver seat today. you can see that in toronto as well. consumer discretionary and tech are the two strongest groups in the u.s., although the 10-year yield still at 1.61 as we wait for news about the head of the federal reserve. we a

this is bloomberg. ♪ matt: "bloomberg markets this is -- this is "bloomberg markets."ay president biden will be speaking about and signing the recently passed infrastructure bill that he hopes will bring down inflation. the market though is raising inflation expectations. here you can see the rising breakeven across the duration. this is really quite striking, you can pull this up on the bloomberg, it shows that consumers are concerned. this is just one way of showing how concerned they are. amanda: the market is signaling its understanding of where inflation is going but there is another way that the president through the infrastructure could help with supply chain and it's an interesting look. look at the container freight rates. extending declines, suggesting supply chain problems may be easing as they track the composite container frame rates for eight of the busiest east-west trade routes. you can see it here, it's the longest streak in decline since 2018. it suggests that even as we are all getting hot and bothered on the budget issues, they may be beginning to w

this is "bloomberg markets," live on bloomberg tv and bloomberg radio.anksgiving to anyone seller biting today, wherever you are in the world. here in europe, we have european equity market open as usual, so let's get some guidance around risk appetite. we are up a around 0.25% this one. same on the ftse 100. the cac 40 on par with that. if we look at a sector breakdown, utilities are the best gaining sector across europe, so that gives us a sense of may be a lack of risk appetite as we are more than halfway through this european session. travel and leisure down by one put 3%, but still very much in the red. this is connected with the rules and regulation's around covid vaccine that have been proposed by the european commission. we will come to those in just a moment. that is the pen european equities story. of course, it is thanksgiving. it means that u.s. equity markets are closed, but u.s. futures are open, and s&p futures up i 0.2%. the euro-dollar up by 0.2%. and crude is fairly flat. we've got the german bund there as well. the filing of the traffi

bloomberg, founder of bloomberg lp and bloomberg philanthropies.are tracking the fallout of the global supply crunch. >> let's start with the top supply chain stories of the day. the world's biggest supplier is finding that labor shortages are limiting its production and raising costs in developed nations. though the issue impacts operations in europe, canada, and australia, the situation is more acute in the u.s. which is seeing labor shortages across the logistics chain. the pacific maritime association which negotiates labor agreements the largest ports in the u.s. is warning that the federal vaccine mandate will worsen the supply chain crisis. the rule is set to take place in january and the organization says as many as 40% of the workers are not vaccinated. the congestion in ocean shipping lines has resulted in a booming demand for air cargo which bypasses port bottlenecks. they will be chasing sales when leasing companies and carriers gather for the dubai air show on sunday. there is a good reason for the air cargo companies to buy up airplan

this is bloomberg. shery? shery: still ahead, we speak to a founder about predictions for commerce, climate and the world order. we are live at the bloomberg economy form. up next, we are joined by the ceo of supply chain payments platform trade shift for his view on the global supply chain outlook. this is bloomberg. ♪ haidi: we continue to track the fallout of the supply chain crunch, and these are the top stories. china is accelerating plans to replace american and foreign technology by giving a government organization the power to it approved suppliers. the application committee will help set industry standards with about 1800 chinese suppliers invited. scott morrison is launching his own plan with a new list of 63 technologies to be protected, we are keeping an eye on the european commission meeting that they could be easing restrictions for the chip industry. shery: back to the bloomberg scoop on the tech supply committee, the push from local suppliers could hit intel, amd and amazon because globa

this is bloomberg. ♪ manus: it is "bloomberg daybreak: europe."ew voices joining the call for faster taper by the fed. raphael bostick joining. jeremy siegel is a finance professor at wharton, calling for the fed to accelerated timeline. both get to the deputy cio at tylan. thank you for joining me. bostic is putting forward his call for hikes by june of next year, quite an acceleration. talking to jeremy siegel, i'm going to review what he had to say. he things we are going to see 25% cumulative inflation over the next few years. he does not see markets that are prepared for how fast the fed might go. are we underpricing that tail risk? let's take a look at his comments for our audience this morning. are we underpricing the tail risk of a faster hiking strategy from the fed? good morning. >> i do believe there is a certain interest to tell us the right story, which is transitory inflation. they have not let it fall under the table. inflation has come to stay and inflation is going to be much more than powell -- they tried to help also in this dif

being organized by bloomberg midea group, a division of bloomberg lp and parent company of bloombergin the meantime, here is how shanghai is looking. down, .3%. this is bloomberg. ♪ total gym includes everything you need to get into the best shape of your life. for every body at any age. it works every muscle group, including your core, using your own body weight as resistance. customers love total gym because it's fun, fast and effective. nothing delivers full body results like total gym. and right now you can try it risk free and enjoy special savings too! get on demand workouts free, free shipping and more. call now! kathlee0 p.m. in new york. president joe biden and changing paying are set to hold a virtual summit, the talks come amid heightened tension over taiwan and trade. according to the white house, the discussion is designed to prevent a misunderstanding. biden and xi have spoken on the phone, but this will be the first time the conversation is billed as a summit. chuck schumer could be set to fast-track a bill aimed at competing with china. the bill would boost domestic s

this is bloomberg. matt: welcome both are bloomberg and bnn bloomberg audiences.e the top stories we are following. powell rattles markets, the fed chair sparked a sea of red and the stock market, sending the indices lower by 10 basis points. we will keep you up-to-date on all the action. plus, the omicron variant poses a big risk to the economy and we will discuss how the efficacy of vaccines could affect the fed outlook with the barclays head of macro research and as the variant underscores the need for vaccines, possibly new ones, possibly not and we will speak to the coo of red to discuss the company's efforts to make sure everyone is able to get a shot who wants one and hopefully some people who don't should get one as well. all that and more is coming up but let's check what's going on in the markets. the s&p 500 is down 1.6% as the dow falls 680 points. canada is down more than 2% step the nasdaq which had been gaining this morning as other equity indexes fell is now down as well, 1.6%. the 10 year yield is dropping. people are buying bonds but the yield is

bloomberg markets era.ur markets live editor joining us from singapore to take us through the market action and there was a lot overnight. cash trade an hour away. here are your top headlines. a strain discovered in south africa sparks flight bands and warnings from scientists. investors flock to 50

we welcome both our bloomberg and bnn bloomberg audiences.are the top stories we are following for you from around the world. one of the world's leading beauty companies, coty, outlined its long-term growth plans at its investor day. we will speak to the ceo from the floor of the new york stock exchange. retailers vow the holidays are safe from supply chain fears. company earnings are coming in better than expected and some even exceeding pre-pandemic levels. a blowout quarter for nvidia. we will dig deeper into the number as the chipmaker reaches a record high. all that and more, coming up. amanda: we are seeing some of those stories play out in the stock market today. bradley positive in the u.s., some negativity in toronto, but nvidia is one of the big gainers on the day, up 8%. going another direction, cisco. missing on their quarter. we are seeing big moves, and a big decline for cisco on the day. yesterday, we saw consumer discretionary in the driver's seat, amazon to thank for that. it is still leading the gains, but tech is going alon

this is bloomberg. -- the coty ceo at 1:30 new york. this is bloomberg. of the u.s., canada, and mexico will hold the first in-person person meeting since president biden's election at the white house today. amongst the issues likely to be discussed, energy, borders comment auto manufacturing. issues remain despite the rewrite of the north american trade agreement. countries are making a u-turn in their fight against the fourth wave of the pandemic. they are increasingly forcing countries to let employees work from home. in belgium employees need to work from home four days until november. in germany -- as long as there are no operational issues. the risk of a trade war the eu and the u.k. may be receding. the forceful negotiating stance led to a softening in london's position. european officials told ambassadors the uk's threat of ditching part of the agreement related to northern island may be off the table. the u.k. pushed back against the idea anything has changed. wrapping up operations in london to target the super rich -- goldman is boosting its we

this is bloomberg. bloomberg. manus: this is "bloomberg daybreak: europe." i'm manus cranny.ani burger at london h.q. we're live at the bloomberg new economy forum and halfway through the first day of the forum. and i believe it's government and finance have gathered together in person. dani, a very good morning to you. dani: yeah. good morning, manus. and it is just fascinating there at the forum with the world's increasing inflation problem and china's growing role on the world stage. and just two of the things that have topped the agenda where you are, manus. manus: let's bring in our head of economics, senior executive editor, stephanie flanders. and you've had the conversations and a few radio guests. i'm curious, when we -- one of the first things about perhaps more government. i was kind of surprised when i saw you -- wow. more government. what does that mean? stephanie: one of the first panels involved mainly business leaders talking about how global business has been transformed by covid. and several of them suggested actually what they thought was the way that the w

the president retweeted a bloomberg story. that is a little bit of good news for the administration. tom: the good news is also home depot, citigroup raising the price group on home depot. that to me is linked to the ports in los angeles. it is all linked into recovering america. over to the united kingdom, the dollar stronger, euro weaker. look at sterling off the inflation statistics. what does it mean? jonathan: maybe a rate hike at the bank of england. we are frontloading christmas. that is the story. tom: the big story for me is, do you go with the big turkey or two small turkeys? jonathan: are you going with a smoked one this year? tom: know, i am going to a restaurant. [laughter] jonathan: i have done that with you before. we have about two points, no drama. yields unchanged. tom: the euro is drama. jonathan: i am getting there. [laughter] jonathan: having a look at 1.12. a seven-day streak. tom: idiosyncratic. the euro weakness is an elegant chart. it is a 2.4% euro weakness, 63%, that is an abrupt move. jonathan: i am

we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following for you from around the world. alibaba's shopping extravaganza. we will speak to ann berry about singles' day. ghost kitchens and deliveries are booming. we will speak to the reef chief creative officer about one of the largest restaurant launches in history in partnership with dj khalid. and we break down the numbers of beyond meat following rough numbers that hit the stockard. amanda: they are not alone in seeing declines after results, but overall a positive attitude for the markets. a mixed picture on the internals for the markets. s&p 500, financial, material doing well. text along for the ride. the nasdaq is the better performer. tech name doing very well. not so much for disney, netflix, the other way. seeing some strong reaction to individual earnings reports today. new york crude at the bottom, $81. we are watching west texas as well. increasing pressure, it would seem, on the white house to look at the strategic reserve. for what it's worth, p

this is bloomberg. this is bloomberg.e lots of great interviews ahead at the bloomberg new economy form. pro-intelligence founder joins us to discuss how artificial intelligence can help reduce -- produced honest answers for the economy. just ahead, we speak to singapore's minister for foreign affairs about the nation's policy objectives and the balancing act between global powers. this is bloomberg. ♪ ♪ haidi: singapore's prime ministers says tensions could lead to a miscalculation between the u.s. and china. speaking at the bloomberg new economy form, it they discuss the relationship between the world's two largest economies. >> we should be concerned. i don't think it's going to war overnight. it's a situation where you could have a mishap or a miscalculation and been a very delicate situation. haidi: let's discuss the complicated relationship between china and the u.s.. we are joined by singapore's minister for foreign affairs. it's great to have you with us. thank you for having us in singapore. dr. balakrishnan: gre

this is bloomberg. ♪ yvonne: this is bloomberg markets asia. be some relief in the shipping space, suggesting some of the supply chain issues are easing in the busiest shipping routes. while consumer indexes on the longest streak of decline since march of 2018. meanwhile europe is looking at easing restrictions on state aid for the semiconductor industry after france called for more intervention in the approach to overcoming the chip crisis. the european commission may agree with that when it meets on wednesday. major retail earnings ahead of the shopping season, walmart results on wednesday, followed by lowe's, target, and much more throughout the week. those earnings will be a key barometer for the economy. we could be in for a tough quarter, and investors will look for clarity on when supply disruptions could end. and how the companies are positioned heading into the all-important holiday shopping season. bloomberg terminal users can read more about that in our newsletter. haslinda: speaking of the supply chain crunch, we heard how it is aff

"bloomberg markets: europe" is next. this is bloomberg. ♪ ♪ >> good morning.bloomberg markets. i'm ana. our managing editor takes us through owl of the action this hour. here are your top headlines. president biden sits with the chair. and treasury yields and the dollar jumps

this is bloomberg. alix: live from new york, i'm alix steel, with guy johnson in london. this is "bloomberg markets." value stocks actually surged, but that hasn't actually worked out. joining us is bloomberg's abaco doolittle. that was the consensus for a second, and it hasn't pound out -- hasn't panned out yet again. abigail: this is a stark reminder that overall, we have growth up about 28% on the year, value up about 20%. to your point, tesla, nvidia up huge, and some of the other top value stocks actually lower on the year, so it is a busting of that idea that rising yields would really help out value. it just hasn't worked out that way. the spread between value and growth has really widened. back at the end of 2018, the value pe was on was 13 times for growth. right now we are looking at almost a spread of 15. value trading at about 17 times, growth trading at 31 times. this may suggest that there could be some catch up for value ahead, something everybody has been waiting for for a long time. it

we welcome our bloomberg and bnn bloomberg audiences.e the top stories we are following for you from around the world. pfizer has produced 2.6 billion doses of its vaccine to date this year, and is ready to make more, just as the vaccine for kids reaches its last hurdle. we will hear from chairman and ceo albert bourla. as it draws on its hybrid experience to improve reliability. it is one of the oldest players in the hybrid market. we will speak to bob carter of toyota motor north america to discuss the company's approach to this market. and canada's most romantic corporate showdown continues, as edward rogers asks a judge to ask his allies onto the board of rogers communication. we will go live outside the courtroom to get more on that drama. amanda: we are watching markets moving generally in positive territory. toronto is the weakest of the north american markets today. leading is health in the s&p 500. materials are doing well. also seeing the big groups that make up the fangs, consumer discretionary, communications doing well. that

this is bloomberg. amanda: welcome to "bloomberg markets." matt: i'm matt miller you're here other top stories we are following. stocks at a record high as jobs growth ignites a rally in america the labor market seems in a recovery and both the u.s. and canada will break down the numbers with the chief economist at graham thorton. pfizer shares soaring after the covid bill shows strong results in occult trials. we will discuss the game changing of fact. as the economy reopens, bike startup line is looking for notable investors. we will speak to the ceo, wayne ting. amanda: some factors you mentioned in play, stocks at another weekly high. you can see the 10 year is below . growth story in the driver seat. internals, some stocks leading the markets on the s&p 500, every subgroup is in positive territory with the exception of health care and it is the news about pfizer's pill for covid-19 that has the whole group moving. moderna, 24% move lower, another blow to that company taking hits on the vaccine front relative to pfizer. we are watching en

this is bloomberg. bloomberg. tom: welcome back to the open. we are 19 minutes into the european trading day. the benchmark stoxx 600 holding on to gains of .1%. still at record levels after a very solid close for wall street on the back of those better-than-expected retail numbers. the economic data out of the u.s. holding up it seems as concerns and amid concerns that inflationary pressures will linger. and of course we heard from james bullard suggesting that the fed should speed up its taper. the handover to asia was more mixed and lower in japan. essentially flat over on mainland china. investors there are weighing up some changes on the regulatory front. the futures have turned positive in the u.s. gains of almost .1%. in terms of the sector breakdown in europe the gains at the top of the list industrial goods and services getting .3%. modest gains there. travel and leisure down by about .is 1%. china, we heard from kissinger at the new economy forum. and the chinese vice president wang qishan and been hearing from u.s. officials. china i

this is bloomberg. paul: coming up next, a financial ceo says the prospect of the fed raising rates sooner rather than later has been adjusting exposure to growth stocks. more on that just ahead. don't miss our first interview of the day from the bloomberg new economy forum. the china facebook ceo joins us later. this is bloomberg. ♪ >> we forecast this contraction multiple. >> this is going to sound ridiculous. >> definitely pockets of greed. >> don't take money off the table. >> maybe we are going to start tapering, please don't be scared. >> monetary policy is still extremely loose. >> stay invested. >> i look around and i don't think there is anything coming off right now. paul: a divide between bulls and bears. joining us now is the ceo of wealth wise financial. where you stand on the spectrum, are you a bull or bear when it comes to equities? or do you fall into that middle ground of there is no alternative at the moment? >> we do see the market continuing to rally, and there are many reasons for

stay with bloomberg.e are going to hear from boe governor andrew bailey from cop-26, coming up at 12:00 p.m. new york. coming up, credit suisse expects a loss next quarter to cap what has been a year to forget. meanwhile, socgen topping estimates as equities trading rebounds. more on both of the next. this is bloomberg. ♪ alix: live from new york, i'm alix steel, with guy london. this is "bloomberg markets." earnings continue to trickle out. credit suisse, socgen reporting today. bloomberg spoke extensively to the ceo and chairman earlier today. >> we had very solid results. if you look at our net reported pretax income, it was up 25%, and also adjusted pretax income up a similar amount. the reported pretax income also had some impairments, but also some other areas, legal provisions that were part of those impairments. if you look at net new assets, very solid, over $6 billion of net new assets, and very strong capital. i think overall, very solid results. the investment bank was up 9% in terms of revenu

this is bloomberg. ♪ yvonne: still ahead, we kick off our new segment focusing on southeast asia, on asean ahead. look at how the region is faring in its fight against the pandemic, and other challenges, with author and former diplomat kishore mahbubani. rishaad:. rishaad: and this chinese delivery company is posting its biggest loss in three years. . this is the outlook for the region's tech giants, with moody's investors service. that is underway next. this is bloomberg. ♪ this is bloomberg. ♪ yvonne: here is your latest check, mate -- you are seeing meituan after they recur outlook was forecasted for the company after reporting the steepest quarterly loss since 2018. this goes to show right now, the impact of the regulatory crackdowns is still very front and center. rishaad: also when looking at these platform companies, this is a statement from the market regulation, publishing the rebuke of such companies here, saying that they muscle into community group buying, fueling concerns type of company ma

this is bloomberg. bloomberg. matt: this is bloomberg markets. i am matt miller. the doctor who alerted government scientists to the omicron variant says people infected are showing milder symptoms than those who caught delta. still, governments across the world are watching carefully. >> i've decided that we are going to be cautious, make sure there is no travel to and from south africa and other countries. >> there is no scientific justification whatsoever for keeping these restrictions in place. >> i am aware that the restrictions are stricter compared to other countries, but we must be as cautious as possible about unknown risks. >> it does appear that omicron spreads very rapidly and can be spread between people who are double vaccinated. >> it moved from being a variant -- to a variant of concern in a space of 24 hours. >> we call upon these countries that have imposed travel bans on our country and our other southern african sister countries, to immediately and urgently reverse their decision. matt: joining us now, dr. amesh adalja, senior scholar at the jo

this is bloomberg surveillance lift. alongside tom keene, i am jonathan darrow together with kailey leinz. the equity market on the s&p up 0.8%. not many people convinced by this balance. -- balance. -- bounce. tom: we are back in halfway, but it does not feel like it. jonathan: governments unwilling to change their forecasts until we get more detail on this variant. tom: we lack the data. just restart -- joshua sharfstein will be with us later what i see is a wall street saying, we need more data. jonathan: kaylee, we still do not know. kailey: i wonder if that is why you are not seeing a more convincing bounced in equities. the s&p is up 0.8%, but that does not even cover half the loss on friday. the market still seems iffy. jonathan: we have got a few more weeks of this. three weeks until the federal reserve decision. the fed stuck between a rock and a hard place. tom: the u.s. economy is humming. we may see that in the jobs on friday. jon, you'd like the ism stuff. we know air -- our greek letters. this is omicron. b

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller.estimated 50 million doses of vaccines for kids will arrive at thousands of sites across the next week as the white house prepares for widespread inoculations, assuming the cdc signs off. this comes as moderna was notified that the fda will need extra time to analyze. for more, let's bring in dr. tamar mendelson, director for the center for adolescent held at the johns hopkins bloomberg school of public health. let me ask you about the risks. we heard from moderna that there could be the possibility of heart conditions set off by these vaccines in teenagers. what do we know? tamar: i will say i am not an infectious disease expert, so i cannot speak specifically to medical risk, but all that i have read and heard confirmed the risks of having covid are far worse than the risks of the vaccination, so i am here to encourage parents and families to take advantage of this option for their young kids. matt: what are the options going to be? it will take longer for moderna to get an emergency

this is bloomberg. ♪ ♪ dani: welcome back to "bloomberg daybreak: europe." burger in london. equities continued their rally. we ended another session of an s&p 500 index at an all-time record. our guest at this morning is adding to u.s. equities. janet mui it is from who -- it is janet mui from brewin dolphin who is still with us. this is a very new position. why u.s. equities? why add more to that part of the portfolio? janet: yes. we are structurally bullish on u.s. equities to start with. and we believe that from our assessment of where we are in the economic cycle, we are now in mid-cycle. which, as we move towards the late cycle stage, u.s. equities has been a now performer versus other regions -- has been then an out performer versus other regions. u.s. is the primary destination for quality. we are comfortable to add to our u.s. position. and i think we get the comfort from the latest third-quarter earnings from the bulk of the u.s. companies, from the s&p 500 in the quarter, they're doing very well, strong earnings growth, wide margins. we believe th

from new york city, good morning, this is bloomberg. ♪ ritika: bloomberg has learned that washingtonas told the european union that russia make -- maybe considering an invasion of the ukraine. they have a buildup of russian forces on the ukrainian border. it's over energy supplies and immigrants. russia says it's unfounded. the government is reportedly coming up with an economic stimulus package of 450 billion dollars. it should benefit those 18 and younger. the economy is purged -- projected to forecast a little bit lower. chinese leaders have paved the way for the president to rule indefinitely by signing off on an extended ruling position. the u.s. is joining with china and russia and urging the taliban to cut ties with terrorist groups and stop them from operating in afghanistan. that's after a series of attacks in the region. pakistan agreed to continue practical engagement with the taliban. the iphone posted quarterly earnings and its boosted by strong demand on new devices from apple. these companies on that sales will decline this quarter. global news, 24 hours per day, power

we welcome our bloomberg and bnn bloomberg audiences.e the top stories we are following for you from around the world. as opec-plus rejects president biden's request for a bigger oil supply increase, we will speak to the ovintiv ceo brendan mccracken on how the company plans to maintain production next year. remaking the las vegas strip. mgm put the mirage for sale. we will speak to the vici properties ceo. and moderna is tumbling. the fall comes after it cut its covid 19 vaccine forecast. the stock having its worst day since 2018. we will dig into the details with kriti gupta. amanda: moderna, one reason why the health care subgroup in the s&p 500, is among the worst performing today. we are seeing a move back into the high-growth names that brought the market to its height, tech, communications, consumer discretionary higher today. weakness in financials, as interest rate increases are maybe delayed. interest net margins very much in focus. take a look at nvidia. we are watching chips as a group. a number of them are powering higher to

this is bloomberg. ♪ matt: this is bloomberg markets. new economy forum is underway with key discussions happening among world leaders. one area of focus is taiwan. john's prime minister about what he would like to see as a response. >> first, i would try to move on trade. you do want to move forward on trade. secondly, to develop the relationship with china, because if that relationships hours, it is much more difficult. cultivate your other friends the region and your allies. the other thing biden is trying to do, friends and allies, his approach is quite clear. the last thing we can do is to ensure whichever party is of like mind. >> it is not within his giving, but it is important. america's interests extend well beyond 2024. >> taiwan. how much should we worry about what will happen there? >> i think we should be concerned. it will not be war overnight, but there could be a mishap. the leaders, the countries all see. the u.s. will uphold this policy. also talking about the taiwan relations act. you jinping said, -- resident jean jin

this is bloomberg. ritika: at the climate summit in glasgow, talks are creating -- talks of creating a global carbon market are running into obstacles. talks will continue today with less than 24 hours to go before the summit is set to wrap up. in germany, the fourth coronavirus wave is hitting with full force and there is no sign of record infections easing soon. new daily cases surged past 60,000 this week for the first time. some hospitals are already overwhelmed with patients. officials say germany needs to wrap up its vaccination campaign. the labor market is tightening in the u.k. more than 22,000 job advertisements would -- advertisements were posted in the first week of november, the fourth highest since the start of 2020. driving instructors, prison officers, and forklift drivers were in increasing demand. 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. i'm ritika gupta. this is bloomberg. guy: thank y

this is bloomberg. bloomberg. ♪ francine: welcome back to the open. 12 minutes into the trading day. european stocks 0.3%. the cue will depend on what we get from the fed. it is all about monetary policy. we understand germany's social democrats are in agreement to form the next government with sholz as the head. it will be presented later today. we're expecting a news conference at 3:00 p.m. berlin time. let's get to our reporter on the ground. is this pretty much expected, the kind of coalition we thought we would have? any surprises? how do they deal with covid? >> this is a big question. the fact that scholz has been able to bring three different parties together and able to get this known two months should be big testament to his political ambitions and be a big win. it has been eclipsed by the pandemic. there are many questions he is going have to face. does he want to go for a vaccine mandate the way the austrians have or go for more restrictions? many are saying the federal government, the next

a simulcast, bloomberg radio, bloomberg television. we do economics, finance investment, virology, and we will do it in this hour. peter hotez will join us in a bit. we will have science questions before we get to the president of the united states at 11:45 this morning. we are all on the virology watch. jonathan: and i think we need to get away from layering speculation on top of speculation here. as jan hatzius of goldman put it, and i keep going back to that research note, the range of medical outcomes and economic outcomes is incredibly wide. it is our job to sit here and say we've got to wait before you draw any conclusions whatsoever. tom: we will take a measured response to what we see here. we are on measured alert. the measured alert to me is we really haven't seen adjustments by strategists off the shock of front-end. jonathan: and they can't before we know a couple of things. if this is more easily transmitted to other people. is it more severe? are the symptoms more severe? ultimately, can the vaccine still target it well e

this is bloomberg. ♪ rishaad: back with bloomberg markets.is the big apple as expected, tesla tumbling after this weekend. with the ceo posting on twitter. he said he will sell 10% of his stake. su keenan is in the very city there. twitter followers are saying go ahead, but wall street appears to be mixed. su: there was a variety of reactions. some say, there he goes again. a high-profile billionaire ceo, only a ceo from this company could have put out the kind of highly attention-getting and unusual tweets where he asked his followers and investors, should he sell or should he not? you will notice, as predicted by these digital coins that are trading on crypto over the weekend, the stock did fall. i think the crypto coins were reported this time yesterday and were down to over 6%. the stock, at its lowest point, was down almost 7% and managed to pair that loss. again, a little bit of concern as to whether he crossed wires with the sec monitoring, but there is a growing view that perhaps there is a shareholder where he asks, what do i do with

this is bloomberg. ♪ let's check in on the bloomberg first word news.f the u.s., canada, and mexico will hold their first in person meeting since president biden's election. the three will meet at the white house today. amongst the issues likely to be discussed, energy, borders, and auto manufacturing. in canada, the city of vancouver has been cut off from the rest of the country by land due to flooding and landslides. major roads and rail lines have been blocked after what local officials called the storm of the century. that has led to panic buying at grocery stores. inflation is on the mind of bankers around the world. economists at j.p. morgan expect the fed to raise interest rates next september. jp morgan is the latest wall street to abandon an earlier forecast that the fed would stay on hold through next year. meanwhile, the ceo of hsbc also sees rising prices is a big issue. we spoke to know quinn at the bloomberg new economy forum -- to noel quinn at the bloomberg new economy forum. >> i am concerned about inflation because at the same time the

this is bloomberg. ♪ anna: good morning. welcome to bloomberg markets europe.om london. mark cudmore joins me in singapore to take us through the market action. the cash trade is just less than an hour away. inflation concerns hit treasuries. yields pop after the u.s. holiday. wednesday's shock cpi print continues to ripple through markets. russian invasion fears.

this is bloomberg.: next with the fed, lori expects to bring and a rate increase in 2022. more on her outlook. this is bloomberg. ♪ haidi: as we have been discussing, the fed is expected to announce that it will start tapering bond purchases. more hawkish central banks have created gyrations across the bond market. that has made investment grade credit more attractive. joining us is laura -- lori heinel. there's a whole team of investors who are poised to await opportunities that may come through with policy normalization. do you see that happening and reducing opportunities in the market? lori: first of all, if they are going to -- we think the fed will follow through on the plan to taper and interest rate increases next year, as many as two. but they will remain independent and watching carefully how the inflation trajectory starts to modulate. we thought this would be a good opportunity for value investors for a little while. up one of the things that investors continue to focus on is the visibility

this is bloomberg. ♪ than 120 countries. this is bloomberg. ♪ >> this is "bloomberg surveillance." live at the principal room. coming up later, former u.s. treasury secretary larry summers at 11:30 p.m. in london. this is bloomberg. >> this variant b.1.1.529 was reported at a remarkable speed. the first sequence was detected the 11th of november. detection is in place and working. >> that was the spokesman and communication officer for the who speaking about this latest b.1.1.529 virus. it does not yet have a delta or gamma or greek letter, but it may as against prevalence. dr. andrew pekosz has been joining us for yields -- years it feels like as we deal with this pandemic for a second year. professor of meteorologist at johns hopkins bloomberg school of public health. so glad to have you on the morning where everyone is concerned about the virus again. what is your view into how serious this particular variant is? andrew: let me start by saying all the credit goes to south african scientists and scientists across europe for not only detecting this but using social media to spread

this is bloomberg. shery: still ahead, we assess the outlook for cryptocurrencies with bitcoin and ether hitting an all-time high. plus china inflation could hit a 20 year high as we assess the outlook for chinese economy with that he said. this is bloomberg. ♪ haidi: let's check in on the crypto space. the biggest names coming off their record highs we saw earlier this week. we heard from tim cook weighing in on crypto, saying the company is looking at cryptocurrency features without elaborating on what that might entail. for more on this, katie stockton is the founder of their leave strategies. when you look at some high-profile names in the business community weighing in, is this the kind of positivity required to take crypto to the next step of mainstream acceptance? >> i don't think it's required, but i certainly think it helps. bitcoin and altcoins seem to have momentum and that can't stay there -- that can stay there but when you see the headlines and still see a positive reaction, that tends to

this is bloomberg. ♪ manus: it is "bloomberg daybreak: europe."anus cranny in dubai, dani burger in london. we have a new report from dhl that suggests he could see a decoupling of the world's two economic giants, the u.s. and china. it says we could be moving toward a more regionalized economic system. what does that really mean? we go to john pearson, ceo, dhl worldwide express. thank you for joining us. how much damage has been done to global connectivity as a result of covid? a flesh wound or a mortal blow? john: neither of those. i think this is the report we have been waiting for. it is the 10th year of participatin in the study of global connectedness. it has 3.5 million data points that suggests the world is more globalized and connected than ever before. and trade has bounced back significantly to 5% higher than pre-pandemic levels. picking up on a point about regionalization taking over from globalization, one of the most fascinating parts is that simply is not the case. the average distance traveled for trade has continued to increase.

bloomberg terminal. let's discuss china export data in more detail with alecia. what did you see the trade numbers that could give you clues as to the state of the supply chain disruption? what are we suspecting this week a given that we get ppi numbers? alecia: thank you for the invitation. what i have been seeing for a while is getting worse now because we are seeing the same thing at an accelerated pace. that is, chinese experts -- exports. europe's industrial production is not recovering fast. somebody has to produce. the production is coming with delays. that is related to lack of movement from covid affecting, clearly, the speed of supply chains and therefore prices. it is not only about energy. it is also about lack of movement across borders. so, in china we see that. but, we don't see many of the imports we should be seeing given that the chinese economy so far, we are thinking, fourth-quarter might grow 2.5. that is irrelevant for the imports we are seeing. imports are repressed. that is why we

welcome to bloomberg -- "bloomberg markets." we are certainly seeing the fed and the markets seem pretty comfortable as well. taylor: you could say that. i know michael keene is going to nail it when he talks about the goldilocks scenario. at least for now, it is a record high across-the-board. on the russell 2000, that domestic cap focus that are taking the lead -- on equities that are taking the lead. we would be remiss not to mention a five year yield. we came down almost nine basis points yesterday. we are down about three basis points, coming from 120 just a few days ago to below a 108 on the five year. they do not need to price in as many rate hikes. how are we thinking about the federal reserve on days like today? i have to mention one stock we were looking at yesterday. shares of peloton up more than 30%, down below $60 per share. we want to talk about supply chain issues given the reopening of the economy. guy: what has happened in the speed of the slowdown that we have seen. certainly, that would be a culprit for manag

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this is bloomberg. >> winnie chu tells us why she does not see this is returning to pre-pandemic levels. we get some insight on the mixed move in the fed -- mixed moves in the fed. this is bloomberg. ♪ >> chinese sovereign bonds, one traders are focusing on the production data. looking to see whether that could give the monetary policy stimulus. let us bring in the ceo of rainer investors. dampening expectations with policy support. we know china is going through slower growth than the u.s.. what would you be looking at in terms of a push? >> we wouldn't expect a lot in the near term. he would not want to see the -- the chinese would want to see more in the way of wave making. there are issues, huge amount of high-yield bonds were issued in mainland china without the underpinning of a system of records. to allow those things to be resolved. we would expect there to be a bit of a glide path until that is a family -- is established. >> evegrande seems to be playing out a slow-motion crisis. has the downsi

chang and this is "bloomberg technology."bitcoin soares and coinbase slumps. third-quarter results missed wall street estimates.

this is bloomberg.ll the risk is showing up essentially on the fed balance sheet, so i think there's much less collective alsip -- much less collective action from the household sector. i think there's much more resilience there. alix: how can the economy handle more rate hikes because there is so much on he on housel balance sheets? joining us for more is tiffany wilding, pimco chief u.s. economist. we have seen the market start to price a little bit more into 2022 in terms of hikes. do you think today we get any view on what the criteria is for a rate hike? tiffany: i think they have been pretty clear on with the criteria is for a rate hike, and the sense that they have given us guidance for that. basically, we are at maximum employment, which is a more inclusive measure. we are at 2% inflation for a year on the pce measures. of course, they are forecasting it to go higher. so i think we have clearly met the inflation side of those goalsyn■, clearly overshot them, and really it boils down to windows t

and bloomberg sources say u.s. intelligence has detected a buildup of russian troops to prepare for a rapid, large-scale push into ukraine. we will have the details. good morning. the simplicity of the rise in cases across europe versus the difficulty, the complexity of the policy response. i want to show you the rate of infections across the eurozone. the infection rate, the death rate, and the impact on the health care system across the continent leading to these measures across austria, the netherlands, germany, to try and combat record infections. seven day average in cases in europe, 250,000, the rest of the world is 80,000. this despite the relatively high level of vaccination rate. we will get more details from maria tadeo on the policy response, but i wanted to visualize what has triggered the kind of action we have seen from governments in the euro zone. that is pressuring the euro. we will look at that shortly. picking up on china, the csi 300 and focused today, gains on the mainland after the pboc put ou

♪ >> the financial world, this is what bloomberg markets -- this is "bloomberg markets," with alix steelhen guy johnson. alix: markets calm down, but restrictions do not. equities klein back some losses from friday. travel stocks still lag behind as curbs fall into place. $150 oil is coming. we are going to talk to the analyst behind that call in oil for 2023 as the spare capacity shrinks. christyan malek of jp morgan will be joining us. welcome to "bloomberg markets." i was out for two days. i see the headlines friday. my first instinct is who was trading that day. then liquidity, let's wait for the expected bounce monday morning. guy: volumes were ok friday, so i think a lot of people being able to work from home did step in. i admit it was a shortened week, a shortened session, and as a result of which, we may have seen some people got there. it was a high-volume session. is it a bounce back, a dead cat bounce? i don't know yet. i think until we know the details around what this new variant is going to do to us, that answer is pending. alix: it just takes some froth out of the market,

this is bloomberg. -- i'm vonnie quinn. this is bloomberg.look at the junk bond market in china. a tumble on the latest news. dollar bonds are tumbling. we are trading around $.33 of the dollar here this morning. this on the back of reports they may have missed a payment on a trust alone. that is according to red. just at a time when people are looking more positive. rishaad:rishaad: we're going to be -- against the backdrop of a set of kaiser group holdings. hiring advisors to try to get their money on the onshore bond. this is the repayment of some of its wealth management products. we learned some of these offshore bondholders are seeking the legal advice. but spring in stephen engle. >> -- let's bring in stephen engle. >> there is still a liquidity crunch. sentiment has improved. we had some developments since last friday including in the quarterly pboc report showing there is more of a tendency for policy to allow banks to lend it to the property sector to get the bank loans going. there has been alleviation of some of that pressure. i h