that's claudia sahm.tay with us, we have our special report, the fed decides, that kicks off in about 20 minutes. coming up we are discussing the state of the ipo market with kathleen smith and renaissance capital. there etf will be one of the first to hold robinhood shares. this is bloomberg. ♪ >> it's exactly what i set for a long time it's going to be. it's way overdone. people have -- it's just unwise from an investor standpoint. a lot of bad companies in my view have been taken to market and there's going to be a digestion period read --period. matt: that was martin franklin speaking to it yesterday. he's not the only one warning about these transactions. he has been for a while. there have been numerous people saying that the flood of new back -- new spacs creates questionable disclosures. the appetite to go public is still strong. 250 ipo's have been priced in 2021. that's up more than 190%. kathleen smith is with us, the founding principle of renaissance capital to talk about this red-hot market.

caroline: we want to thank you so much, claudia sahm, on all things fed, fed coins, fed account.ay powell talked about the risks that still lie in the delta variant and we just got breaking news that the texas cases has -- have hit $10,000 a day since february and we will keep a close eye on how the use effect the rest of the united states. from new york, this is bloomberg. ♪ romaine: all right, pretty uneventful day for markets. we saw most of the indexes close higher on the day because of the earnings that we got yesterday and this morning, including google. there were earnings after the bell tonight, including qualcomm . they were higher on the day. facebook, lower. paypal, lower. lambda research, also lower. concerns not only on how they did in the recent quarter but also against how they will do going forward in the face of a delta variant that seems to be taking a bite out of economic activity. real yields this week are at record lows. caroline: signaling not just inflationary pressures, but growth, the fact that the u.s. has not managed to move the bar significantly in a l