david rosenberg of rosenberg research.is the story out to 202023 tom: all of these different voices. this is going to be fun. jonathan: the next couple of months will be fascinating. coming up, jp morgan head of macro and fixed income strategy. looking forward to catching up with tom kennedy. if you are watching on bloomberg tv, that is not what tom looks like. i am not sure who that was. tom: it was palm beach. jonathan: i hope tom kennedy is just listing on the radio. he joins me in 20 minutes. this is bloomberg. ritika: a russian legislature is demanding president biden apologized to vladimir putin for calling him a killer. the deputy speaker of russia's upper house all the president's remarks a watershed in relations and unacceptable in any circumstances meanwhile moscow has recalled its ambassador to the u.s.. oil is on its longest run of declines in over a year. west texas intermediate elf for a fifth day in a row over concerns -- after several european countries halted the rollout of astrazeneca's vaccine. more fall

years after her husband george had passed away, margaret katz got a voicemail. >> hi, this is david rosenbergsitting down. i think you're my birth mother. >> reporter: margaret and david spoke by phone. she finally confided her crsecret to her other children. and soon she and her youngest daughter, sherry, were on their way to meet david in portland. >> it was hugging and holding, like, forever. >> reporter: interestingly, david had followed in his adoptive father's career path by becoming a cantor, but he always wondered about his own innate vocal ability, until he met his sister, sherry, a professional opera singer. ♪ >> for david and myself, music was, like, our heart and souls. ♪ >> reporter: but even as he was getting to know his birth family -- >> you know, he was dying. and it was both profoundly beautiful and profoundly painful for all of us. >> reporter: david rosenberg passed away just months after finding his birth mother. 50 years after he was born, laws and public views have changed, with new acceptance of unwed mothers. and although not everyone agrees, margaret katz believes mo

david rosen from rosenberg research also with us to break down knows comments. off the lows but meaningfully lower on the day. >> what had been a delicate rotation from growth into cycle became disorderly. look at the s&p 500. this morning we cracked below last week's low. that's about 37 0. we also spent about an hour in negative territory year to date before this little bounce. and you have really lost the steady trend line. now it is about rebuilding from here only about a 5% pullback from high to low. this is nothing beyond really the routine. interestingly along the way a oot lot of the higher flying parts of the market have had a good purge look at theis vesco etf. 305 on this etf was the high almost exactly six months ago. this one almost three months ago. the low today was around 305 maybe that's a automatic reflex area for a mechanical bounce or in fact the large cap nasdaq 100 type stocks the ones with profits look better situated this is the percentage of nasdaq 1-stocks above a 20 day average. this was this morning. during the indicate you got below

david rosenberg very lonely in the don't worry about inflation camp. everyone else we are going to talk to today, there is an inflation series that maybe do not work in the original recovery. jonathan: is that another break or on the wall of worry that we can climb? hugo: the conversation about inflation is quite contorted. people are getting schizophrenic about it or having problems with it. but we are normalizing. we have come from massive deflation. they have moved from below the fed's target to between 2% and 3%. we have just normalized. we have turned from a fear of persistent deflation, through to a normal period. we have not seen a breakout in long-term inflation expectations, which is when you start to worry. the price regime remains intact. people need to rein in their rhetoric. look where bond yields are now. this is barely normal -- fairly normal. we are coming from extremely low interest rates. we have seen this calls disruptions. in terms of actual levels, they are not to worry about. tom: it is a tough life. you are in the bahamas in febr

david rosenberg being the most heated. lisa: here is the question.s to come from wages otherwise it is stagflation. where will we get the wage growth? is productivity going to increase? will we get more innovation? how will we get people paid more ? that is what the fed is trying to address. congress, too, but congress is split. tom: congress will go their own way and move on to legislation both parties feel they need for 2022. i go back, as we heard from michelle meyer, the quarter to quarter q4 statistic is 7.4% gdp. this nation has never seen that. lisa: i have a question for you. how is the lumber stash in your apartment? you are building a house to try to cash in on the record rally for lumber? tom: the lumber is there. the commodities are there. we are doing a kennel for the dogs, we are building that in the east wing of the house. we can only do it five hours a day because of the nailing and the noise and the construction noise bothering people. you see it nationwide. the permanence of lumber, the permanence of cotton, you do not know. lisa: a

david rosenberg was one of my other properties the other day, and he was on fire about what lisa, we have to get the data, and -- jonathan: it is the better data that has disrupted this market. think about it. it is the better data that has had growth equities. in growth equities have been widening the market. tom: this will be fascinating. it is like tott beating whoever they played yesterday. jonathan: f i think it wasulham -- it was fulham. in the bond market, yields low bought a couple basis points. the dollar stronger today, euro-dollar 1.1932. lisa: a huge story. we will be covering that. the idea of policy surprise. 8:30 a.m., we have been talking about the february jobs report, and we have seen improvement in data, that is why yields are rising, but we have not seen improvement in the labor market. we see it here? expectation is massive. the spread 35,002 beyond 5000 -- 50,000 new jobs versus the average addition of 2500 since september. the average gain -- jobs start to matter more here. it will be interesting to see what the markets say. today, we get the u.s. baker hughes

tom: is he channeling david rosenberg or what? jonathan: a little bit.om: we are getting that view versus the view on inflation. jonathan: here's the big question over the next couple of months. see the data. how do investors respond? if we get inflation induced volatility that opened up opportunities for you, do you have a game plan for the next couple of months? steve: first off, from the fed's perspective, they are trying to slow walk this. they've tried to jawbone it. other central banks like the ecb are doing a little bit of a twist. the hope is that makes the treasury so attractive relative to foreign bonds that that puts a cap on yields. in terms of how you position from a portfolio, the cyclical trade is a good inflation trade. you have financials, which are going to benefit from higher rates. you have energy and materials which benefit from higher prices in general. the reopening plays are going to benefit from more activity. so we think overweight equities there, shorter on the duration side, overweight spread sectors. we think that is the play

with us right now is the ceo, david rosenberg. congrats on the deal. >> yeah.your vertical farm there. just to get everybody up to speed when we're talking about vertical farming what are we talking about in terms of not only what you grow, but how you grow it. >> yeah. that's right, morgan that was in a converted nightclub and then we went to the converted paint ball facility, the facility behind me is a converted steel facility. it's layer upon layer of plant growth, the plants don't need sun or soil, but they need micronutrients instead of sun, we give them spectrum at different frequencies to optimize plant growth and the result is local food production sat scale so everyone can enjoy the leafy greens without pesticides >> why leafy greens and not other agriculture? >> so we have grown over 550 different varieties of plants so we sell leafy greens under the brand dream greens under amazon fresh, shoprite but they're highly perishable. there's a tremendous amount of product that goes to waste so 60% of the farm doesn't get eat and that's inefficiency in the

david henderson, former u.s. attorney joyce vance and chuck rosenberg who served as attorney in the southern district of virginia and texas. chuck, let me go to you in terms of what you heard today from both sides that was, you think, new and important as they presented their first -- their first arguments to the jury? >> yeah. i thought it was predictable on both sides, andrea. it doesn't mean it wasn't important. the prosecution did what prosecutors do in linear faction. they tell the story of the crime and they tell the jury what they should expect to see and hear from witnesses including from medical experts and toxicologists and the like because so much of this case is going to turn on the cause of death. what was the reason that george floyd died? the prosecution, of course, will say the reason was derek chauvin, a bad cop. the defense, i imagine will say it was the fact that mr. floyd was unhealthy and had drugs in his system and that it wasn't chauvin who directly caused his death. on the other hand, we got exactly what we would expect from the defense attorney which was reasonable doubt, ladies and gent