i'm dani burger in london.t has been a roaring start to the year, especially when it comes to the most speculative names but we are getting more warnings. the latest from mike wilson, who said better price action in stocks has convinced many investors they are missing something, compelling them to participate more actively. but he says it is a reflection of the january season, a tough end to a brutal year, but the earnings season will prove to be worse. and investors are forgetting the criminal rule of don't fight the fed. joining us now is dan zwirn, ceo and cio of arena investors. you have been warning about the speculative nature of the market for some time. some of that has come in, but what do you make of the start to the year where we have started to see names like tesla loosen? more speculative names shall we say roaring back. dan: it is a false positive. markets are experiencing transactions on the ground. there is a lot more fear out there. people are expecting at the grassroots level more inflation fo

tom: dani burger, thank you very much.was the sound of the deck hands prepping dani burger's yacht for later. more interviews from the conference with dani burger. stick around for those interviews. plenty more coming up. this is bloomberg. ♪ tom: welcome back. shares in adani group companies are following after was said they were shorting the empire stocks. accusing brazen market manipulation and accounting fraud. manus: that report was released on the same day as a key share sale. representatives for the group did not immediately respond to calls and email seeking a comment, saying the company would issue a statement in response to the accusations later today. it's number four on the bloomberg list. i want you to focus in on today's wealth change, his well today has fallen by $900 million alone. tom: in a single day. this is a significant business empire. we will bring you more details when they come. the response we are waiting for as well. back to the earnings picture, asml generally met earnings estimates, beating on

tom: dani burger with the chairman of the european fund for digital sovereignty.'s get back to the stocks on the move. easyjet coming in with much better results than the markets had expected. it is rallying almost 9%, losses coming much lower for the last quarter than had been the estimates. let me give you a couple more lines on easyjet because they are also forecasting strong demand for their flights will continue in the quarters ahead. they are predicting strong demand. bernstein saying that the airline reporting season has started optimistically and they expect easyjet to be the first of several strong prints across the sector. certainly being rewarded for smaller losses than expected. givaudan, we will speak to the ceo in a couple of minutes. it was a missed for the fragrance maker. asml also coming in with a slightly better print in terms of their sales. they make high-tech equipment, their machines still in demand this year of -- demand this year despite the tensions around china. we will bring you more on that story throughout the hour. across the benchma

joining us now is dani burger. she had the great story out on that done. you really interested in both neil burger, eagleview capital management's founder and dani burger joins us now. it is spelled differently. >> no relation. we might both love the food group ergo but i think that's the only relation we have. guy was just saying you rode short stock and bonds to enormous success. easily one of the top hedge funds last year. so what now, do you stay short? >> until the market tells me otherwise. until markets stop being on a 45 degree angle to the downside the price action is the bible. we are in a major bear market. i think investors fail to really see the forest through the trees and that everything, all asset prices go down. stocks, bonds, a cryptocurrencies whatever you want to given the change in the posture towards liquidity from the liquidity infusion posture which they had been in for the past dozens years in response of the global financial crisis and to the covid pandemic, that has changed 180 degrees for liquidity extraction posture. dani: to p

let's go to dani burger, a tough assignment. good morning. deed it is sunny and we are having interesting conversations, nothing to complain about and it is only getting better. joining me now is marc frappier, managing partner, eurazeo. thank you for joining me this morning. it is sunny but in the industry there are concerns of the storm clouds of higher rates, fears of the economy and financing is hard to come by. would you describe this is a paradigm shift for the industry? has something fundamental he changed? marc: i would not say a paradigm shift but this is a transition. it is a welcome transition. rates are low, prices are up and people are wondering where would it stop? it is good to have that. people can take back their breath and think about the fundamentals of what we do, and focus on high quality assets. it is a good way to sort things out, and we will see that over the long run through performance. if you think about the rate today, they are barely where they were 5-6 years ago so it is not a paradigm shift. not a smooth transiti

he was shorting manus: it's your friday addition of daybreak, with me, manus cranny in dubai and dani burgerlondon with the stories that set your agenda. dani: intel shares plunge in late trade after reporting a miss on sales and a grim short-term outlook. the u.s. economy post-smiled slowdown at the end of 2022, but beats expectations, providing encouraging signs for the fed fight against inflation. lvmh report slowdown in fourth-quarter sales after a slump in chinese demand, but the luxury giants has the year has started well with restrictions easing. we will speak with the cfo later this morning. breaking news, fancy a little bit of liqueur? manus: a little remy cointreau, i remember having it when i was very young. organic revenue drops 6%, but that is better than what we expected at 6.4%. revenue 437 million, a bit of a better level, confirming guidance for the full year. so, remy, there you go, it's a brandy, maybe when i was drinking it it was more vintage. [laughter] dani: in the break i was trying to ask you what kind of alcohol cointreau is, that tells you how unsophisticated my pa

manus: you went long enough for the dawn to break, and the yachts to be seen, dani burger living largecannes with the tikehau capital debbie ceo. more from dani throughout the day at the ipem conference. she will catch up with the chief economist for allianz later on. tom: i spotted your got in the back shot. an $11 billion case could threaten africa's largest economy. this is quite the tale. ♪ introducing the new sleep number climate360 smart bed. the only smart bed in the world that actively cools, warms and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. manus: the u.s. treasury secretary is urging zambia's creditors to restructure their debts on her visit to the capital. she said it is critically important to address the issue straightaway. zambia became the first pandemic era sovereign to falter in 2020, since then it has revamped external debt. yellen's next stop will be south africa, where she will meet with the president. tom: the nigerian government could be on the hook for a de

i'm dani burger in london with the stories that set your agenda. asian stocks are mixed as traders gauge the health of china's economy. the imf warns one third of the world will fall into recession this year. xi jinping warns that challenges remain in china's battle against the virus, but signs emerge infections may have pete. plus, coming up short. tesla's quota late deliveries missed expectations despite offering brighter incentives in the u.s. and china. it might be a new year, but the problems markets and economies are facing are the same. it is the fears of recession and inflation. georgieva from the imf warning recession will come. but this market is not ready to bet that yet. anything that hinges on demand is doing slightly worse to unchanged, nymex crude for example, was down to start the day but now is just $80.50 a barrel. not huge gains despite china reopening, there is fears how much covid will impact the global economy. gold is at the highest since june. it had an awful year last year considering the strength of the dollar, but recessi

i am dani burger in london and these are the stories that set your agenda. stocks are higher and treasuries rise before today's expected deceleration in u.s. inflation. china shares waiver after a sharp drop in ppi. 100,000 u.k. workers have plans to strike next month after unions signaled they are far from resolving disputes over pay. plus tsmc tops estimates but concerns linger over economic headwinds and tighter u.s. trade goals. happy cpi data all who observe. we are expecting softer numbers but we get this pre-big data shuffle happening in the markets, so not too large positions. what has not been clear as the diversions between the bond market that is pricing in recession and risk assets that continue to rally. perhaps the rally is because they are expecting fed cuts, but can risk assets continue to do well if the economy is doing so bad that the fed needs to cut rates? we continue to see treasury yields fall. they have fallen by about 10 basis points over the last two days. we are just now at 3.5%. the dollar also pricing in a similar scenario. the do

dani: good morning, this is "bloomberg daybreak: europe," i am dani burger and linda -- in london. asia stocks extend their rally. resolve, not rancor. top e.u. and u.k. negotiators speak about whether to fix brexit trading arrangements for northern ireland are within reach. plus, back to davos. the world economic forum resumes after pandemic disruptions. as davos goes on, it is a market that is forced to grapple with an upgrade to their once pessimistic outlook for the year. it is china reopening and it continues to fuel and claim market rally. me take you straight into it because the csi 300 has moved above its 200 day moving average for the first time since december 2021. at the same time, s&p 500 futures, it'll changed at this morning, but hanging around a one month high. even with this optimism, we have a wall street banks reporting on friday and everyone from j.p. morgan to wells fargo, basically everyone we heard of is preparing for a worse economy. it might be a mild recession, so we have to ask to what degree are equity markets pricing in a mild recession? global picture h

dani: really wonderful to speak to this morning. enjoy your weekend. coming up, we speak to eagleview capital management founder, neil burger. no relation. ill talk to him on his headphones -- had fun hedge fund performance. this is bloomberg. ♪ dani: let's get some of your top corporate stories with the bloomberg business flash. china is planning to relax restrictions on developer borrowing, dialing back the three red lines policy that exacerbated one of the biggest real estate meltdowns in the country's history. bloomberg understands that beijing may allow some property firms to add more leverage, as well as pushing back the grace. for meeting that target. the easing could mark the most are medic shift in china's real estate policy to date. samsung's profit has dropped by the most in over a decade. it is a sign of the global economics lowdown that may be hurting electronic demand more than anticipated. south korea's largest company has been a grappling, as consumers cut back. samsung's operating profit fell almost 78% for the latest quarter, missing the estimates by a wide margin. citadel securities raked in a record seven and a half bi

i'm dani burger in london with manus cranny into by. manus: shares jumped after hours. closing ranks, president biden commenced -- commits to sending advanced tank to ukraine, as part of a broad allied effort to support the fight against russia. plus, hong kong trading resumes following the lunar new year holiday propelling asian stocks and european futures higher this morning. treasuries advance. breaking news, it's a flood, it's a feast. take it away on s.a.p.. dani: sap lines coming out, let's get straight to the important bit here. they are letting go jobs, it is a restructuring, affecting 2.5% of staff. the other headline to break is that they are upgrading their outlook. they are seeing and operating profit of 8.8 billion euros. the estimate had been for 8.6. even the lower end is above that estimate so they are seeing more growth. a company that bought back in 2019, they took it public and they are exploring a sale of its stake. job cuts, a beat on operating profit and a possible sale. a lot of things coming in terms of restructuring. we will be speaking to the s

i'm dani burger in london. these are the stories etc. agenda. caveat emptor, the fed warns investors against underestimating its result to tackle inflation. u.s. futures lit even as asian stocks slide for a for the. oil rebounds from its worst two-day slump since march. pl is tting over 18,000 jobs in its biggest workforce reduction ever in another sign the technology slump is deepening. there was a pushback against the fed. fed officials were worried about cuts this market is pricing in, despite that the rebound continues especially in asian equities this morning. hong kong and china stocks are higher. we had a piece of rally yesterday in european stocks. we have seen the biggest three-day rally for the euro stoxx 50 since october last year. a solid start of the year. seeing some consolidation today as warnings abound over the state of the equity market. an analyst says the s&p is far too crowded, therefore you should get out. nasdaq futures are underperforming, with warnings from tech slashing workers. looking at the cross assets, oil is stagi

i'm dani burger in london and these other stories that set your agenda. risk on, risk off. wall street closes in the red as traders await the fed minutes. bill dudley says a u.s. recession is likely. covid and chips, china says to pause massive spending on semiconductors as the resurgence of the virus strains the nation's finances. plus sam bankman-fried pleads not guilty to criminal charges, setting up the trial in october. we are full on risk buying mode this morning. really fueled by the headlines coming out of china of which there are many. we will try to break those down with you through our bloomberg team. let's look at the impact on markets. hong kong shares leading gains across the equity space this morning. also looking at futures in the s&p 500 and euro stoxx 50. david inglis will go into the details but it is part reopening, part government support, part u-turn when it comes to china. for the cross asset story, treasuries are off to their best start of the year since 2001 when alan greenspan when markets correctly guessed that he would/rates. 10-year yield lower

i'm dani burger in london. optimism spreading, european stocks

i'm dani burger in london, with an is cranny in dubai, with the stories that set your agenda. yousef: brazil insurrection, security forces regain control after thousands of of president bolsonaro ransacked government buildings in the capital, brazilia. global stocks jumped after wall street's best day in a month, amid optimism over china's reopening and slower rate. boba fett need to reign in expectations again? sources say goldman sachs will embarq this week on one of the biggest rounds of job cuts, with plans to slash more than 3000 jobs. dani, we are reunited, good to have you back in the studio. i don't know where i have been. but my favorite line on that goldilocks jobs report on friday goes to randy rosner, the immaculate disinflation report, oh, that is a brave call. especially if you listen to people on twitter. good morning. dani: i don't know where you have been either, but it has been with me. the market taking the note, trading this jobs report, those weak services coming in as if goldilocks herself had found the perfect bowl. but we hear from jay powell tomorrow,

i'm dani burger in london with the story says that your agenda. stocks extend gains with optimism's that thursdays inflation data will show moderation. homegrown tech, apple will start using its own chips next year in another effort to manufacture in-house. and next week, protesting manual mike rounds plans to raise the minimum retirement age. powell didn't push back and declined to say much more on inflation. some folks interpreted that as him essentially giving his check mark to what we've seen in financial easing over the past week, or perhaps he just didn't want to catch himself on the back foot ahead of tomorrow's cpi data. either way, the result is risk assets have been allowed to rally with the terminal rate not yet pricing 5%. let me take you to the board over here. msci asia-pacific index of .7%, perhaps capturing some of that china reopening story as well. when it comes to the cross asset picture, or looking at bond yields coming back in below 3.6%. they have moved above the figure yesterday. jupiter asset management said deals could fau

i am dani burger. these are the stories that set your agenda. fed officials pour cold water on markets seeing rates rise above 5% and staying there for a wild. that hawkish message snaps the rally in stocks. let the chips fall. apple is said to be preparing to drop semi conductors made by broadcom and all comp as the iphone maker uses more in-house designs. plus, bungled debut. u.k. rocket launched by virgin orbit failed to support satellite cargo sending shares of the richard branson company plunging. bostick and daly have come to ruin your hopes and dreams of a risk market rally. they confirm that we will continue to hear from the fed and they want to go 5% or higher and stay there to bring wage growth down. we will hear from jay powell today as well. he is likely to reinforce that message. we get a pause in this equity market rally. u.s. stocks, futures are falling after a drop in the cash market today down by about 1/10 of 1%. morgan stanley says the 3900 looks i can easy sell. jp morgan also throwing cold water on the european rally. they s

i'm dani burger in london, with manus cranny back in dubai. these are the stories that set your agenda. manus: asia stocks follow wall street higher after yesterday's u.s. inflation print, fueling optimism that the fed will downshift to smaller rate hikes. chinese exports fall for the third straight month as slumping global trade weighs on economic prospects. president biden's handling of classified documents erodes into political crisis, with a special counsel appointed to investigate. good morning, i can speak again, there is nobody safe from dubai through to london. to move from 50 basis points to 25 bips on cpi, is it to admit to the market, and maybe lose credibility when they need to hold firm? dani: i would say it is notable that parker is talking about put five basis points, considering he doesn't speak a ton, unlike other fed speakers. but we still have the likes of bullard saying the market is too optimistic about inflation getting back to 2%. they are not ready to concede yet. manus: he's obviously had a cup of tea with michael burr

i am dani burger in london.king out positions -- fed hochul christopher waller says he favors a quarter-point hike at the next meeting. there could be 50 more basis point increases for the ecb. olaf scholz and emmanuel macron worn european businesses they will have to dramatically boost spending to keep up with the u.s. and china. and jacob a -- jp morgan analysis shows that chances of recession are dropping. look for a better entry point, that's what we were discussing with alan higgins earlier in the hour. so far it is a rally that started friday in the u.s. and it is continuing. just a caveat to put on all of this, it is the lunar new year in china so trading volume is really thin. even so, we are looking at a japanese market up one into third percent, and s&p futures index continuing the rally from friday. the most shorted equities gained 4%, it is surprising to see some consolidation. it's about the divide between europe and the u.s. when it comes to central banks. waller says they will downshift to 25 basi

i'm dani burger in london with the stories that set your agenda. the curtain falls. reed hastings steps down as ceo after more than two decades. shares jump in late training. not there yet. k-fed officials say high inflation rates will be needed for some time to maintain pressure on inflation. the world economic forum in davos comes to an end with a noted absence of top white house. more top interviews including the french finance minister. breaking lines from the telecom giant. fourth-quarter net sales coming in at a beat. 86 krone is what came in. the estimate was just under 85. they are on track to deliver their goal at 15 to 18% by 2024. fourth-quarter adjusted ebit is a slight miss, 2 billion krona short of what was expected. the dividend is coming higher than expected. 2.7. estimate was just over 2.5. many analysts have pointed out that this season, their earnings will be a messy one. they have a lot of one-off costs. the focus will be, can their 5g kit -- sales continue to go up? revenue growth as significant and in line with their goal. 5g demand is still ali

i am dani burger with the stories that set your agenda. global stocks drop as china reports the second slowest growth in decades even as most data tops estimates. coleman and ubs join a bullish bets on the reopening. this appointing dealmaking. morgan stanley and goldman sachs from goldman sachs -- biggest banks taking a hit from investment banking. it is day two at the world economic forum. we will have more blockbuster interviews that include cbs ceo and opec secretary-general. later today, doma are exclusive with german chancellor olaf scholz. davos gets underway for the second day. markets are quiet. the big risk event is a boj. that has the potential to shake things up. until that, let me take you to equities market because there are declines. some consolidation given the strong your today declines we had. china gdp out but that data is backward looking. the markets not paying too much attention to it. lunar new year starts his weekend so perhaps some proffered -- profit taking of that. s&p had a holiday yesterday. european stocks in