sonali: viktor hjort of bnp paribas and tracy chen of brandywine, thank you for joining us.till ahead, the final spread, the week ahead. a new administration in washington. global business leaders in davos and a busy week of earnings. this is "real yield" on bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. -what've you got there, larry? -time machine. you gonna go back and see how the pyramids were built or something? nope. ellen and i want to go on vacation, so i'm going to go back to last week and buy a winning lottery ticket. -can i come? -only room for one.

look at market measures, there is more skepticism how quickly that will happen >> daniel morris of bnp, thank you very much. >>> coming up on "worldwide exchange," my next guest says is a buy. >>> first, the latest on the deadly wildfires that are forcing tens of thousands of people to evacuate. >>> plus, the economic legacy of president carter and what people can learn from his four years in office more "worldwide exchange" coming up right after this. he has 3 comments 2 memes and 4 emojis to contribute. a flood of positivity... during every. single. meeting. but oh how his passion for product management takes your team from level zero to level... zane. you need zane. zane needs benefits. work with principal so we can help you help zane with a retirement and benefits plan that's right for him. let our expertise round out yours. ♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. >>> welcome back to "worldwide

stefan slowinski with bnp. appreciate it. >> all right. on deck.t trump has the bitcoin bulls very happy right now. >> crypto watch is sponsored by crypto.com. crypto.com is america's premier crypto platform. >> nothing stands still. not technology, not the market, and not franklin templeton. we've been a firm in motion for over 75 years, always innovating. today, we are a leader in public and private markets, digital assets and custom tax management, empowering advisors with solutions to build the portfolios of the future. today. franklin templeton, your trusted partner for what's ahead. >> what happens when you drink rice? mushroom coffee? you start to feel a calm, level headed focus. that's lion's mane. time to lock in shiitakes keep you feeling healthy. king trumpets help with overall longevity, and cordyceps bring you that boost of energy you love. so what happens when you drink rice? mushroom coffee? your day gets mushroom coffee? your day gets better, a lot better. and got eyelid itching, crusties and swelling that won't go away? it could be

lots of economic data in the next several days including payrolls on friday. 163 k coming from bnp paribasus going into friday, what would it take for this bed to cut interest rates at the end of the month. we expect that they would require key dimensions so they would be looking for a payroll growth well below 100 k and a jobless rate above 4.3% to get this fed considering to cut interest rates. lisa: would that be enough for the long end increase. one prints that people would say would be noisy, would that be enough. a lot of people are looking at the internals, what does growth look like and where is the employment coming from? is it mostly government positions? that will go into how it is interpretive. -- interpreted. jonathan: labor data will be the focus for markets and the fed. the fed could be less worried about excesses but should remain concerned about the effect of higher labor costs on inflation. dana joins us with more. we have some numbers in between just to work backwards on wednesday adp and claims and later this morning jobs. what have we seen in the jobs data, opening is

those are citibank transaction, there was a transaction that was standard chartered, bnp, so i thinkhe early days. these partnerships need to have substance. they cannot be shotgun marriages. you have to be ones that have substance, dialogue, trust, and some history of a lot of transactions together. we have been fortunate in all of the ones we have put together weather has been a lot of history of personnel or activity, but i think it is still early days. there are a lot of headlines, just grab headlines, and there's not a lot of substance behind them, but i think that trend of private capital and bank partnerships will extend in 2025-2026. if you think about the economic backdrop, i sense there's a great opportunity for strategic, and a. m&a. i'm a little more skeptic about the massive ipo window. if you look at the last 10 years, equity issuance has been 250 billion ipo's, 250 billion secondaries, that is removing other stat numbers, and we still have valuation issues with a lot of private equity companies that have wanted to come out and give their ipo, so i think we have a nonco