anna: bnp paribas on their numbers. bnp paribas, 2.5 billion euros ahead of what was anticipated. a 900 million euro share buyback program on november 3. the bnp plan, $1 billion a buyback as equities. a 79% jump in equities trading is part of the story. it has been on equity trading we are focused. this is a key area for french banks, and this is the first french bank to report, and a stage is set for others in the sector with strong equities trading. let's get the numbers out of daimler, third quarter ebit, 3.6 billion, another beat against the 3.1 billion estimated. mercedes-benz cars are seeing a slightly lower unit sales. this is with a little bit of what we heard from vw yesterday. the group ebi will be above levels pre-pandemic. the margins rather than the volume is something automakers have to think about as they prioritize where they put those chips that are in short supply. let's go from the auto space to the oil and gas space. omb numbers, third quarter clean operating result, 1.7 9 billion euros. they are giving us production statistics, and we will speak to the managem

tom: tell me about bnp paribas' thoughts about gradual. i -- the hope of thes bulls is that the moves forward will be smooth and controllable. do you buy it? mark: i do, and i don't think there is a proverbial gun at their head when they are done with tapering to necessarily hike immediately. i think the minutes this week may actually show that there's some hearty debate about that, and that they are going to be gradual, they are going to be consistent removing the tapering, but in the hikes, which we think will start in the fourth quarter of next year, they need not be immediate and rapid. they can calibrate that based on the economic conditions at the time. kailey: obviously what central banks are weighing is the central bank equation. the equity market has been weighing that as well. you have the likes of goldman sachs and jp morgan saying the inflationary and stagnation airy fear -- and stagflationary fears will abate. how long can buy the dip continue to work? mark: it is a very vexing issue that a lot of our institutional investors a

bnp paribas has been so good about framing yield against the economy. do you ascribe as well to a 2% yield out there? daniel: i don't know if i want to put a number on it, but as far as we think yields are going to continue to go up, we have under weights on duration, under weights on real yields, and in our rates portfolio. so it is anticipation that it will go higher. i don't think we need to have a specific number yet. i think it is always evolving, looking at particularly what is happening on the inflation front. also, that arguably has changed over the last few weeks. what is happening with medium to long-term inflation x patients, the story from the fed for a long time now has been all of these inflationary pressures are temporary, and you saw that in the market. one year, two year inflation expectations shut up a lot, but five-year/tenure didn't move at all. we are starting to see more movement there, and if you did not see that rising, unanchored expectations starting to get back into the market, that is the biggest risk right now. lisa: if yiel

greg boutle there, bnp paribas head of equity strategy. tomorrow, bank of america, wells fargo, on the friday, it is goldman sachs. tom: can i mention the correction that mr. boutle just spoke about? the standard & poor's down. i understand there are corrections them as there always is, but, jon, we lost total perspective of what down is. jonathan: what down is and what down has been over the last nine months, tom, isn't that the story here? down has been 3%, buy it. down 5%, buy it. you get conditioned by that. tom: you get conditioned by that, but you have the wall of money, jp morgan harkin it all. in the jp morgan, which, frankly, folks, i learned a lot from what jp morgan says, and, jon, we don't gauge how unusual these times are. jonathan: i would agree. let's talk about one key issue, lisa, it is loan growth. lung growth is almost certainly around the corner. it is a soft inflection point. if loan growth were a car -- there is always of the like this in my mail, isn't there? -- if loan growth were a car, it would be moving from firs

paul: head of asian equities at bnp paribas asset management. thank you for joining us.ing that senate majority leader chuck schumer says the senate will vote to pass the short-term debt deal. that vote requiring a simple majority of more than 50 votes. samsung operating profit net estimates any the third quarter given by strong demand for chips and photo paul house heads -- foldable handsets. telcos through these preliminary numbers. -- talk us through these preliminary numbers. >> samsung reported results in line with expectations. the third quarterly sales are at record high, reporting more than 70 trillion yuan. operating profit showed more than 25% growth from a year ago. the company did not give any other details other than those two figures. analysts say that most of the sales and profit were coming from its flagship semi conductor division. memory chips and custom-made -- likely strong recoveries thanks to strong demand during the chip shortage. also growing demand for data center and smartphones as well. if smartphones -- also reported strong results because the

bnp paribas says it will be stocks. they see u.s. stocks falling by 6%. the s&p 500, because they are expecting folks to go from stocks to bonds. that is something to watch out for. francine: something that really caught my eye, the earnings provision index for europe. i think it is 0%, the lowest level since january. i don't know if we will see repricing in the tech space. nour: generally, tech companies out of the u.s., when they are not reporting revenue you would expect them to at this point, that is going to hurt a lot of other industries out there, primarily because these are companies that set high valuations for themselves and the targets are quite high. markets have been comfortable with that because they are expecting revenue growth. but realistically, we are seeing growth starting to slow. it is not mean it will be less growth but revenue growth will start slowing in the coming quarters. we are starting to see that ahead of supply chain concerns. apple reporting later today. very interesting to see what they will do with the iphone delivery. to

. >> i'm dani clevenger with an exclusive bnp paribas open update for test channel -- four tennis channelcky loser only made the main draw after the linda -- after belinda bencic withdrew, but took out top-seeded carolina push cova -- top seed karolina pliskova for the biggest win of her career. defending champion bianca an dreescu went down to the number eight seed, who took full advantage of a poor performance from the 2019 u.s. open champ. don't forget, tennis channel's exclusive daily live coverage hits the air at 10:00 a.m. >> consumers now have an incentive to buy today rather than wait. >> we have seen a substantial repricing of both growth and inflation. >> the whole reflation recovery trade is still ahead of us. >> inflation eventually will come off. >> a taper is much more on autopilot. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone.

bnp paribas once to reward investors after the end of a cap on dividends.rg has learned the french bank is explored a number of scenarios, including raising its payout to 6% of annual profit. fifa soccer videogames macy's to exist in their current form after publisher electronic arts says it may rename them. ea is exploring the naming rights agreement with fifa, soccer's international governing body. that deal is separate from ea's other official partnerships and licenses. 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. ♪ >> is really about whether investors are trying to get the next days or quarter right, or whether they are trying to get next multiple years the big question is, is this a moment in time? are we moving to a high structural inflation rate, a higher level of growth? abigail: i can tell you -- jonathan: i can tell you right now, we are heading to a higher market. in the equity market, in the bond market a little o

. ♪ >> an exclusive bnp paribas open update for bloomberg.inals are set and indian wells. clinching his second come back win in as many days to reach the final four. the victory was the bulgarian's 100th at a masters event and his first in two years. he will face cameron norrie. on the women's side, she continued her excellent run with a straight-set win. the win puts the 23-year-old within reach of her made in 1000 crown. don't forget tennis channel's exclusive daily coverage aired daily at 1:00 p.m. eastern. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. >> pandemics change behavior. consumers might be worried. >> shortages on the labor side and supply-side. >> interest rate, the whole

jonathan: bnp paribas chief strategist out of london.lls friday, that data drops in 42 minutes. in the bond market, yields unchanged at 1.5743%. the equity market positive 0.1%. quote of this morning from ellen zentner of morgan stanley. if economists were right, it was probably an accident. that feels about right for this year for sure. tom: i would say my quote of this morning is what you said. things work out. with the gloom we have had over the last days and weeks, what you said is equally important as something we will watch into this jobs report. usually with david wilson, we tried out a chart. david wilson out front on reading the literature of the street and all those followed by others, including the must-read effort of zero hedge. zero hedge published the wonderful and lengthy thoughts, and this time, brilliant on the faang stocks. dave: basically, analysts are too pessimistic. it is not just the big five of the market. it is more broadly the s&p 500. we have seen that the last four quarters, companies being well above analyst

. ♪ >> i'm jim imagine with an exclusive -- i'm jamie mcgill with an exclusive bnp paribas update.rs came through a three set thriller against u.s. open finalist layla fernandez on stadium one. after being outplayed in the opener, the american leveled it at 1-1 before clinching the victory in the deciding breaker to reach the quarterfinals for the first time in her career. earlier, jessica pagula dispatched the number four seed svitolina. and alexander zverev took care of business against andy murray in the battle of the heavy hitters come of the german fleming his first win over the scot on his way to the round of 16. tennis channel's exclusive daily live coverage hits the air at 1:00 p.m. eastern. baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. big whoop! mine gives me a 4k streaming box. -for free! that's because you all have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? >> inflat

. >> another exclusive bnp paribas open update for bloomberg tv and radio from tennis channel.omen's semifinal is set, and a huge upset in the men's draw wednesday at indian wells. two-time champion viktoria azarenka powered her way into the final four for the fourth time in her career. >> it feels like you are starting from the beginning, so i am really happy, and i am motivated to keep going. >> earlier, grigor dmitrov upset the u.s. champ and top seed, daniil medvedev. dmitrov took 11 of the last 14 games. and don't forget, tennis channel's exclusive live coverage hits the air daily at 10:00 a.m.. (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no stimulants, no starving, just results. results you'll keep for life. no more sacrificing to lose weight only to p

when this sparked a couple of years ago, there were reactions from bnp paribas, i would not expect aion today, but you may see those stocks underperform. mark: we have had tsmc results this morning. what is the story? >> you have not missed an enormous amount, it is broadly in line with what was expected. demand is incredibly high, they are struggling to keep up. there were reports around apple and iphone production yesterday. i do not expect moves in chip stocks, tsmc is one of the most important companies in the global supply chain. they expect tightness in supply to remain throughout 2022. anna: let's go to the global appetite industry. >> an upbeat report today, heavy investment in building up the data business. when the pandemic hit, it drove arise in e-commerce. they benefited enormously from that, now paying dividends. we are expecting a good reaction . anna: thank you very much. quietly in the background we keep returning to oil prices, up again 0.9% on print threatening to go above $84 a barrel. this is a forever theme. mark: this is massive and under the radar. there is so