joining us is bloomberg's senior editor derek wallbank. great to have you on such an important week. what do we know about these violent threats? derek: what we know is officials in washington leading up to the incident at the capital have been criticized for not taking threats seriously enough. this is a 180 degree change from that. you are seeing a security posture in the nations capital i have never seen before, candidly, and i've lived in the area many years. you are seeing downtown washington, d.c., always under high security, but you usually expect crowds of a couple hundred thousand to come and hear what the new president has to say on the national mall. it will be very quiet this year. it was going to be quiet before covid, but you have barricades up creating a green zone in downtown washington, d.c. around the national mall, the white house, and the capital. very, very unusual setup but again, the capitol just got stormed two weeks ago so you can see where it is coming. into all of that steps joe biden, a longtime veteran politicia

joining us now is derek wallbank. i finished reading yesterday about how biden wants to pass this in a bipartisan way , i started reading about the package and thinking, there is no way this is going to happen. can he get it passed at all? >> well, it is an interesting question, because a lot of the things you are seeing in biden package as you said are things that tripped up the last one. but that seems like a dark cloud. let me give you a silver lining. the last package really stopped because mitch mcconnell did not want to put it forward. he did not like what was there. republican senators did not like parts of it. that does not matter anymore. in fairly short order, two democrats are going to get sworn in as senators from georgia replacing two republicans. chuck schumer can bring to the senate for whatever he wants. your math stops being 52 senate republicans and starts being counted 10 republicans. can they get through everything they want? maybe not. there is some question. there may have to be give and take. ce

let's bring in derek wallbank, our senior editor. what is the latest state of play? i think we are at 200 senators who have gone for articles of impeachment. derek: we have had about 200 house lawmakers say they are signed onto an impeachment push. you should be seeing articles of impeachment drop as early as monday, with the house possibly acting later this week. speaker nancy pelosi said they would act later this week. the things that could get in the way of that would be if donald trump resigns, which he is not going to, or if vice president mike pence invokes the 25th amendment and tries to rally the u.s. cabinet to get rid of trump, which you can tell by the sound of my voice how likely that is. pence has given no signals really that he is looking at doing that in any way. understand this is all a bit of a longshot thing. but democrats are really incensed by what went on at the capital, the violent insurrection by trump supporters. they understand full well there is not that long left in trump's term of office before january 20, when he leaves. they are not willi

for the latest, let's get to derek wallbank. too close to call at the moment, but we did have some thing from the decision desk in terms of one of those seats. decision desk hq and other people have said they think raphael warnock is going to win in his race. the ap has not called any of those races. certainly if you are looking at the totals right now, you're doing a little bit of math, you would rather be warnock then kelly loeffler. warnock has claimed victory and said he is going to the senate. leffler says she has a path. jon ossoff versus david perdue is a little bit closer. you would still probably rather be the democrat jon ossoff. but that race is very close and the nominal account we have, the republican is just slightly ahead, but also off -- jon ossoff votes are still out. to come in, there is a lot more democrats than there is republican territory. where is the biggest battle going to be? senate,n't take the where are biden and harris most compromise? >> whoever takes the senate gets the agenda. the simple act of ge

francine: thank you so much, derek wallbank with the latest on the georgia senate race. let's get to andrew jamieson, global head of etf product at citigroup. thank you for joining us for the first edition of the show in 2021. if we have a democrat senate, what does it mean overall for markets and therefore for etf's? clarity wehink any could get at this stage would be welcome. there is a lot going on in the world and when that happens there is a lot of volatility. bad etf'slked that are often a barometer, often with persistent exposure and flexibility. hopefully one would anticipate when we get some clarity after this long, drawnout u.s. election. hopefully we will start to see some normality come back into the markets and some sense of a sigh of relief, perhaps. francine: what does normality look like, and what does it mean for fixed income etf's if we have a lot more stimulus from the democratic president of the united states? it in: normality, i put context. clearly with covid there cannot be any real normality until that gets resolved as well. and obviously here in

let's get the details from derek wallbank. it seems like the democrats just want to ensure he won't hold office again. read theat's how i statement at the end of that meeting that basically said trump and pence are committed to working together for the remainder of the term. it also suggests mike pence -- democrats during at a potential impeachment there are moves to get a center for other things through. it is highly unlikely that trump gets booted before the end of his term. democrats toor explore some other alternatives as well. rishaad: how will all of this affect impeachment? derek: i think there is a difficulty. 220-odds have around votes theoretically to impeach from people cosponsoring the impeachment legislation. you can see where that moves forward pretty easily. the problem is once it moves forward, then what? the senate is not due to return back until january 19 and trump leaves office a day later. if trump is seen as a clear and present danger to the united states, as a lot of democrats are arguing, he is not goin

derek wallbank joins us. what is the significance of the call for unity? it is tapping into a buzz word joe biden has been talking about. he wants to talk about multilateralism, a certain amount of bipartisanship. that is domestic and abroad. one thing i would note is it takes two to tango. as much as china would say the u.s. should pursue a strategy of unity, the u.s. general impression is the first and biggest moves probably need to be made on china's side. one assessment might be in australia, that the moves have been made, in terms of deterioration of the relationship and have not been of equal measure. so if you see calls for unity, that is a positive step. over the last couple of years, we have talked about how rhetoric devoid of action is still a positive step. there has to be a lot of stuff under that. if china wants to make nice with the u.s., there is certainly an open hand ready. it will take action on china's side to do that. rishaad: what about the u.s. itself? for one thing, he is back, anthony fauci. what has biden's team been talking about,

matt: joining us now is derek wallbank.alk us through biden's plan to fight this pandemic. >> biden right now is doing i would say two-pronged approach. one is in style, one is in substance. in the style, you are looking at a different example being set. there are rules about masks that have to be on, there is stricter testing, greater distancing. all these sort of things as well as starting out with a rule you have to wear masks in federal buildings and federal property. all of that is the quick signal there is a new sheriff in town. punctuated most notably by anthony fauci saying he felt sort of liberated and glowing about the approach that was taken. that is the low hanging fruit. the heart is the production and supply and distribution of vaccines. you have seen an effort out of the white house yesterday to try to ramp up production of vaccines. they are going to be overhauling the distribution strategy. it is important to note for asian and european audiences, the u.s. vaccine distribution strategy is going to be necess

haslinda: bloomberg senior editor derek wallbank has the very latest. the house vote is pretty symbolic. derek: it is symbolic at this point because mike pence came out with a statement before the vote began to say he would not be invoking the 25th amendment. this is a provision to the u.s. constitution that basically would allow for the vice president and the cabinet to remove an incapacitated president. think of the president had a stroke and was on life support, something like that. there have been some calls to use it after some of his supporters stormed the capital. it is pretty clear that is not going to happen. pence has rejected so doing. that means the house will move forward with an impeachment inquiry, impeachment vote. that will then go over to the senate but it is not at all likely that the senate will take that up and discharge it before trump leaves office. all of this is under the headline of trying to give some consequences to the president for what democrats say was inciting that insurrection on the capital last week. so far, we are not

joining us now for more is derek wallbank. set the scene for us. oming out of washington, d.c. the videos coming out of washington, d.c. are shocking, to be honest. what do we know about these violent threats? derek: i think i would agree with you entirely. if you look around washington, d.c., and you see the u.s. capitol to be this vision of blocked off streets and giant fences, and even some razor wire on top of those fences, i mean, it's a totally different city to the one that i worked so long in. it's heartbreaking to see it last way -- see it that way, but it is a recognition that just a couple weeks ago, the u.s. capitol was stormed by supporters of the defeated president. it might not be an overreaction. it's kind of preparing for the worst with the worst very firmly in your brain so that is the security posture that joe biden is going to be walking into, with a very atypical in operation. this time with covid-19, there were not going to be many anyway and now there might not be any at all almost. it's going to be an inauguration like you ha

derek wallbank setting the scene for the last day of the trump administration and yellen is saying to act big. the doctrine, what does it mean for markets? the s&p has gained 15% in 2020. this morning, room for more stimulus, and what does it mean for stocks? let's bring in our senior multi-asset strategist at state three. always great to get your take. we are kicking off a new administration. adam pozen, the president of the peterson institute, says she will have to work on a -- with the fed that does not look like a conspiracy and is explicable to congress. that's the first political hurdle she's going to have to face, isn't it? maria: absolutely. i mean, she has -- i mean, she comes from having been chairman of the fed so it's almost kind of expected that she will work closely in cooperation with them. no question about that. more to that discussion is she herself and chairman powell are known and perceived as a little more dovish, historically dovish president of the fed, chairman of the fed, so there is this perception that both of them will work somewhat in concert and try to do

we thank derek wallbank and our entire mliv team. right now with our first word news in london leigh-ann , gerrans. hi, leigh-ann. leigh-ann: hi, tom. president-elect joe biden has officially been recognized as new president of the united states. the president says he disagrees with the outcome that there will be an orderly transition on january 20. that follows extraordinary scenes in washington, d.c. yesterday, as a mob of pro-trump supporters stormed the u.s. capitol building. there was chaos as members of congress were seen grabbing gas masks, with many forced to evacuate. president trump's deputy national security advisor has resigned and other top white house officials are considering leaving. sources tell bloomberg mark pottinger was dismayed by the attack on the capitol and the president's incitement of the protesters. his boss, national security advisor robert o'brien, also considered leaving, but we are told he has been persuaded to stay. and the u.s. capitol police fatally shot a woman during the assault on the building by

. >> let's cross to our senior editor, derek wallbank for more. this is unprecedented. the latest? >> no u.s. president has ever been impeached twice and no congress has ever really contemplated the idea of carrying through with a senate trial on that impeachment after that president has left office. if u.s. me what is going to happen on here? i don't have much historical precedent to point to because we are in uncharted waters. what we do know is the senate is likely to receive the house impeachment when it returns on the 19th of january. there is some conversation ongoing about how it can structure those early days of the bided administration so they can go forward with confirming bided's nominees as well as impeachment. remember, as we saw previously with trump, and impeachment trial can -- tends to block out the sun in terms of the legislative agenda and takes precedence over everything. biden does not want to lose those earliest days of his presidency with legislating to anti--- impeach entirely. at the same time, there is massive precedent. it is growing by the da

rishaad: senior editor derek wallbank, thank you. the company jack ma founded let's get first ward news from karina mitchell in new york. karina: interesting reporting from the financial times about beijing ordering apparently chinese media to censor reports about an antitrust probe into alibaba. the government propaganda arm is said to have told local media to report only what they are told and not make changes or offer commentary without permission. the order also prevents reposting or quoting foreign media and warns editors not to oppose the official line. head of the philadelphia head has echoed hints the federal reserve may pare back bond buying. patrick parker says he could see such a move next year depending on the state of the u.s. recovery, but warns them to quickly could this drop to markets. but he remains cautious. this follows similar hints from atlanta's raphael bostic this week. the australian city of brisbane imposing a three-day emergency lockdown after the u.k. variant of the coronavirus was detected. residents of t

let's get to derek wallbank with the latest.one side says they will sue, can you take it for granted that they think they will lose the count? the math is what it is. every network has called one of these races for raphael warnock over kelly loeffler. the other one is not just jon ossoff-david purdue, but control of the senate. you would expect this to be a fight. it is also closer. jon ossoff is ahead. if you look at the areas in georgia where you see votes legally cast waiting to be counted, you are seeing those in democratic areas. you would probably rather be jon ossoff than david purdue, with a lead and more of your home turf left to count. you can read into the lines in both statements from the campaigns put out, with purdue promising a fight, and jon ossoff saying, we think we will win. anna: the markets are moving on this story, nasdaq futures moving lower. other markets little flatter. 2%.ell 2000 futures jumping in terms of what this would mean, if we see democrats take control of the senate, this for the bidenh agenda

haslinda: senior editor that -- derek wallbank. we will discuss policy changes in the white house. later this hour we speak to the founder of the first hong kong's underlying lending platform. and how banks are holding up in the city. rishaad: and growth markets people give us his predictions on how the pandemic will change society and emerging markets over the next decade. this is bloomberg. ♪ haslinda: we are on the cusp of the biden presidency. let's get more of the days market action with the mliv managing editor. where the risks hide as that u.s. presidency changes? >> is the fact that everyone believes in the same fundamental view on markets, that we have endless money coming in, more stimulus, low yield and you just have to keep chasing risk assets even though everyone also acknowledges valuations are stretched. people are rushing to buy assets they do not necessarily think are good value or cheap. it is a rare consensus i am worried about that everyone is doing something they do not like he makes a vulnerable view. rishaad: yields are at the moment, we have that yield curve

rishaad: derek wallbank, thank you. and our thanks to tom mackenzie.our coverage of the inauguration. that is live right here on bloomberg television, radio, and quicktake. haslinda: the first word headlines for you, the european central bank is emulating its asian peers by controlling government borrowing costs but in a european way. the bank is buying bonds to limit the difference between yields the strongest and weakest euro zone economies but one source says policymakers have specific ideas on what is appropriate. an ecb spokesman client to comment. china is ramping up dissent against -- against the coronavirus, ramping up the construction of a quarantine center built outside a city. it holds more than 1700 rooms and is expected to admit its first occupants later wednesday. construction began last week after a jump in covid cases in the province. the biden administration is said to be considering a special commission to help airlines in the coronavirus downturn. the group airlines for america says it should include government carriers, travel opera

bloomberg senior editor derek wallbank.iotech tells us what to expect after his company restricted emergency use approval in india for its coronavirus vaccine. don't miss that. this is bloomberg. ♪ is bloomberg. ♪ given initial approval to covid-19 vaccine, clearing the way for one of the world's largest immunization drives. astrazeneca's jab has been given the nod for emergency use. a locally developed shot developed by bharat biotech has been approved for restricted emergency use. >> in approximately 800 subjects. the vaccine is safe and provides robust immune response. wasphase 3 efficacy trial initiated in india in 25,800 volunteers. approximately 22,000 participants have been vaccinated across the country and the vaccine has been found to be safe. tohaad: i spoke exclusively bharat biotech's founder and chief executive krishna ella about the logistical challenge ahead. child --the phase 3 trial it just like china. we're also making it exactly like an activated virus right now, which is the phase three clinical trial ri

senior editor derek wallbank. the latest business headlines. has signed a deal with chinese electric vehicles. marking a big bet on the e.v. sectors. the company will work for the city -- to the start of next year. planning to invest $200 million in this venture. it has been struggling to deliver its first electric car after announcing it several years ago. in sixsure -- launched years, it sailed to china oceanside will come through. the company says it is turning to a backup plan including a partial ipo after four years of delay surrounding the $2.7 billion deal. it is keeping the door open encased oceanside completes its obligations in the decision. psa aftersler, shareholders approve the plan. the company will be called -- and become the fourth biggest car maker in the world. fiat managing to patch up relations after attempts to join forces with renault. it says it takes the carmakers into the future. >> with the coming decade -- we believe the coming decade will be -- we and our merger partners at psa are intent on playing a leading role in

. >> derek wallbank.resting to see the approach when it comes to some of these measures against china from the biden administration. sticking with the inauguration this week, joe biden's nearly $2 trillion stimulus package could be better spent. scott minerd spoke to bloomberg about that and what he is buying right now. >> it's really amazing to have watched this recovery in crisis are rapidly against the backdrop of the pandemic, but you know, at this stage of the game, we are still remaining positive on credit. we recognize there could be setbacks near term, but given the new paradigm that we are living in after the fed corporate bond purchase program, we think we could continue to see credit spreads tighten relative to treasuries, maybe back to levels that we have not seen since late 1990's. >> after the unveiling of the 1.9 -- this call at $2 trillion that will be spent from -- let's call it $2 trillion that will be spent in the rescue plan for america, does it go far enough and what does that do to a