gershon: no. tony: no way. subadra: no.athan: credit spreads, wider or narrower from where they are by years end? tony: modestly wider. gershon: unchanged. subadra: wider. jonathan: final question. you know what it will be because i keep coming back to it. if you put all my shows together over the past three months, these numbers keep going up. how many rate hikes this year from this federal reserve? subadra: three. tony: four. gershon: my very sophisticated models is an average of 5.38. jonathan: thank you. i need to get my team out of here before the snow starts coming down in new york city. see you next week, same time, same place. this is bloomberg. ♪ mark: welcome to the bnn bloomberg audience. i'm mark crumpton with bloomberg first word news. ukrainian president volodymyr zelensky says russia's posture on the border has not escalated since last spring and that the media is making the situation appear worse than it is. >> he image that mass media creates is that we have troops on the roads, mobilization, people are lea