i look at the volatility and i don't want to equated to the news from bridgewater.frey: the surprise to the upside and particularly, is the wage data driving it. stocks are down and bond yields are up and that is the kind of correlation, positive correlation in terms of both going down at the same time that is a challenge for investors. what we learned from chairman powell is that the most important determinant for inflation is going to be the services component. what drives that component is wages. what we might be starting to get a hint of here, that was in the earlier conversation, inflation is coming down because of all of those underlying components, the supply side, the goods picture. none of that matters. what matters is a wage price spiral. tom: you're gonna bring that up today? jeffrey: what matters is this wage price and what we are seeing in wages. that's the most important take away. inflation undermines the relationship between stock/bond correlation. tom: i am bus in his chops. mike: he has a point, i did the calculations. private service industry wage

we really think rebecca patterson for being with us from bridgewater.ad every reason to cancel after the shock of their performance last week. she is chief investment strategist of edgewater, who was doing so good. without going into the nitty-gritty of bridgewater, what were the challenges you faced in the last 90 days? rebecca: we take views that are usually 6 to 18 months out, so as we are looking at the world, we continue to be cautious on assets. we think the market is discounting goldilocks, that the fed will be able to start easing in the central -- in the second part of next year. we just do not think that adds up. as we have seen this bear market rally in recent months, the market responding to increased hope that the fed will pause and start cutting rates next year, we have seen growth assets, risky assets performing well. but we still believe that, as we go into 2023, while there is going to be this tug-of-war, how much will the fed accept inflation versus force inflation to its target, how much growth pain will we get, we continue to believe

i think that's, that's a, that's just an example of a broader question, bridgewater, which has, if you, if you get invited to something where there are no rules where there is total freedom forever, everybody. do you actually want to go to that party or, or you decide to stay home. so that we, brian dealt or talking about his concern that along with not engage in an upset him, there wouldn't be enough shutting down a certain view. but now that certain views have been shut down in these journalists have been suspended. he's speaking up and referring to a law, goes a tyrant. and that seems to be the way these voices are framing that they're seeing . alarm mosque as a tie. rent use it to radical ceo using his power to shut down. critics. but they didn't speak the same way about jack dorothy and jack dorothy was running twitter and silencing many conservative that other critics of the us status quo. they defended him. they didn't speak of him in the same language in term. so let's review how they spoke of jack dorothy compared to how they now speak of a law mosque is relevant there. a priv

guy: that was greg jensen, a bridgewater associate co-cio speaking to us last week talking about thehallenges of the china reopening story. is it going to be ultimately a negative or positive for the european economy? melanie joins us to try and address that. what you make of that? how are you guys thinking about the way china will reopen and the impact on europe? melanie: the first thing to think about is the impact on gas markets. once china reopens, europe will have to compete with more asian demand and the cost of imports will rise. but of course china is a big driver and when it's been hit in recent months that's affected the european economy negatively. it's reopening we think will support some sort of rebound next year. to the european economy. alix: i wonder what place this puts the ecb in. talking about 50 basis points super hawkish, christine lagarde doubling down on it. and you have some potential upsides, what does that wind up doing. melanie: we now expect four hikes next year. so we agree suggested that there was how they understand the stable comment because they need

greg jensen, bridgewater associates: cio, have a happy holiday.oming up, dan tarullo, former fed governor. is it time to fight the fed? is it market fighting the fed? it is, but is it listening to the ecb? christine lagarde was unbelievable today we talk more about that next. i slightly wondered whether christine lagarde watched jay powell, looks at the market reaction and went, i have got to up my game. alix: yep. saying your hawkish is not enough. s&p is down a bit but nothing like what we are seeing in europe. this is bloomberg. ♪ it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. alix: we are about one hour into the

they're planning to start teddy bridgewater. >>> to the nba and problems for the milwaukee bucks. 119vertime win on wednesday. it's the third straight loss, the longest losing streak so far. >>> in sacramento three kings players topped 30 points including tyler mark who hit a free throw. the kings pulled off a 127-126 come-from-behind win over the denver nuggets. sacramento was playing without head coach mike brown who was put in the league's health and safety protocols. >>> the final mega millions drawing of the year is going to be $640 million. no winner emerged. that means there's one more chance for people in the u.s. to head into 2023 with millions of dollars in your pocket. the cash prize comes out to $328 million. the jackpot will be the largest mega millions size ever offered. the last drawing of the year will be held on friday at 11 p.m. eastern time. that does it here on "cnn newsroom." i am bianca nobilo. "early start" with whitney wild is up next. when they're sick, they get comfortable anywhere and spread germs everywhere. wherever they rest protection nothing kills s mor

backup teddy bridgewater will start sunday and the tua status is still uncertain.ned noncommittal if he will return even if he is allowed to play. >> i'll do what the medical experts advise me to do and i'm quite certain they're not going to advise me in the wrong direction when it has to do with his health. his health is the first, foremost and only priority. >>> all right. to the npa, you can expect the league to hand out stiff punishments after a big brawl during the pistons owe/magic game. ment you can see a fight into the bench. he got shoved by hindu. both benches. he appears to lose consciousness temporarily after getting hit by hays in the back of the net. they were all ejected. they win by 20 in the end. the teams still play each other two times. >>> lebron james taking his talents back to south beach. it wasn't exactly a happy homecoming for lebron. turns 38 years old tomorrow. he shows frustration after the team lost for a fifth time in six games. >> i'm a winner and i want to win. that's always been my passion, it's always been my goal since i was an 18

game against the new england patriots is uncertain, and the dolphins are planning to start teddy bridgewatercdaniel says he is doing better than the day before, but it is hard to extrapolate beyond that. >> i will do what the medical experts advise me to do, and i'm quite certain they are not going to advise me in the wrong direction when it has to do with his health, his health is the first foremost and only priority. >> he played the entire game against the green bay packers this past sunday, mcdaniel says he can't pinpoint exactly when you might have been injured. thank you for joining, us i'm alison for our international, viewers world sport is up next, where those here in the united states in canada, i will be right back with more news. >> welcome back, i'm alison, mention netanyahu stunning political comeback in israel culminates on thursday when he will be formally sworn in as prime minister for a record sixth time. but before that happens, parliament will vote on his new cabinet that is set to begin in the next couple of hours. analysts expect it to be the most right-wing government

week's game against the new england patriots is uncertain, the dolphins are planning to start teddy bridgewatermcdaniels says tua is doing better than the day before, but it is hard to extrapolate beyond that. >> i will do what the medical experts advise me to do, i'm quite certain they are not going to advise me in the wrong direction, has to do with his health, his health is the first and only priority. >> tua play the entire game against the green bay packers this past sunday , mcdaniels says he cannot pinpoint exactly when he might have been injured. . thank you for joining us. for our international abuse, marketplaces up next for those here in the unit states and canada, i will be right back with more news. there's something going around the gordon home. good thing gertrude found delsym. now what's going around is 12-hour couough relief. and the giggles. the fafamily that takes delsym together, feels betttter together. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all o

tom: rebecca patterson of bridgewater. thrilled she came out after the bombshell announcement.o i would say for global wall street, really, find us on youtube and in the digital space for that complete comment from miss patterson. she was really something yesterday. jon ferro appearing for a 9:00 episode of the open. red and green on the screen. we are looking at the curve version. -83 basis points is important. annmarie hordern is in washington, and she is looking at the challenges of a president traveling. but first we get the weather report from joe mathieu. rain is ebbing away. joe, to be serious, the downpour , is whether a factor for the future of these two senate candidates? joe: it is a huge factor. if this race is going to come down to turn out, the weather is a big story today. look at this pc behind me. you normally would see peachtree street and a gorgeous view from the 26th floor of this building we are in, but of course you can see what we are dealing with. both of these candidates have turnout challenges. herschel walker might be more obvious, as we have seen ear

because there have been some big trends, particularly earlier in the year, and you've had funds like bridgewaterhave really big swings in returns, as well a tough year for most people >> so what about the banks why haven't they benefited from higher net interest income and in some cases record highs >> so, you can't, you can't have your cake on any of the reasons that people have been trying to figure out why banks are good. but the one thing that has happened is earnings have actually done quite well for regional banks they have benefited from rates being at fund zero, which was not a good thing for the banking space. but people have worried about a recession engineered by the fed. so they've worried about credit. now they're worried about the top of their interest rate margin cycle they want to keep worrying, but what's happened is, a lot of these companies are seven, eight, nine times forward earnings with big dividend yields and lots of capital i think i've said this for quite a while, but banks are not part of the problem it's the lending outside the banking space that's riskier, right? the

the cisco to what we are talking about over at bridgewater. the man popping back in and going back up? we are going to be complete leonidas. makes sense. over at energy aspects are saying the same thing, and it is basically a ghost town in beijing as a result of everyone being sick and staying home. but when that changes, and it will change. all of a sudden you will have a different economic act dropped with an increase in demand. we didn't get that. there will be a lumpy point, but there will be waves of demand starting to go back in. >> i would argue it will less bumpy if you let it go. >> in the near term, you know works. we self regulate, even if the government doesn't self regulate. we are already seeing that, with a company volume down off of this reopening in china. statistics around that story and affects. i want to give you price action right now. equities are lower and negative. 1% and down. just a little bit in the united states. we will touch on that later. on the 10 year, 349. we have talked about crude with the euro-dollar. 10630

dolphins qb teddy bridgewater expected to get the start against the patriots this sunday. guys?es of him getting hit and it just begs the question, who is protecting the players from themselves? >> such a great player with a promising career. everybody hoping for the best. >> absolutely. all right, phil, thank you. >>> still coming up here, "avatar: the way of water's" billion dollar bonanza. what will 2023's big money blockbuster be? blockbuster be? stick around. from the start, carmax has reimagined used car buying for you. so you can buy online... or on the lot. with upfront pricing, so you never have to negotiate. and express pickup, so you can get your car, on your time. all with an unmatched 30-day money back guarantee, so you can buy with confidence. that's car buying reimagined. carmax. eww, bacteria. spreading throughout your home. help stop the spread with microban24. it keeps killing 99.99% of bacteria for up to 24 hours. be confident in your clean. microban24. i brought in ensure max protein with 30 grams of protein. those who tried me felt more energy in just two we

john in bridgewater, new jersey, republican, good morning. new jersey, good morning.t was a bipartisan vote in the house. we will see what happens in the senate. caller: thank god. i go back and remember -- by the way, we won the vietnam war and all the other wars. i go back to the 1970's when they tried to neuter our country and the democrats, so i am happy to see democrats -- i will never vote democrat for a lot of reasons. supporting the military, this is truly crossing the rubicon for this country. host: so this bill, the ndaa, national defense authorization act, actually has a long history of being supported by both sides in both changer -- chambers. if it passes and is signed by the president, it would be the 62nd consecutive year that congress have reached a bipartisan agreement on this ndaa. caller: that is good. i do not disagree. but we know democrats, and you just had bernie sanders, come on, because way back. but for some reason, ok, i will take the win without arguing about it. host: that is john in new jersey. this is aaron in alexandria, virginia, in li