you've got five interns right now trying to get a hold of golub to get him on the show. thank you for that donation. lisa: wait, what? [laughter] jonathan: lisa, just to explain, my team on my other property work very fast, so when they heard jonathan golub of credit suisse had a new price target, straight out on the phone. they are making it happen. lisa: are they the ones that also carry you? no, the people that carry him are fully benefited and all that. the people he's got calling our wonderful guests are just interns, paid of course by bloomberg, i should point out. jonathan: keep me out of trouble for just a moment. [laughter] my out is usually let's get to the price action, so let's do that. if you are tuning in worldwide, the good news this morning comes from pfizer. final analysis of clinical trial data showing their vaccine 95% effective. a lift in the equity market, up eight on the s&p. lisa has been beating the drum hard on the last week or so on the bond market. staye u.s. 10 year, you where you are, tom. [laughter] from london and new york this morning. thi

suisse, golub of credit thank you. this equity market up 27. the s&pced 0.75% on 500. that is the call from the team at credit suisse. there call is to get out to the back end of 2021 and look at 2022, and think of what that world looks like. tom: it is a really different call. this is the fun of what we do every day. what i am seeing from credit suisse is tech and banks. it is way away from the conventional one-way call on cyclicals, materials, and the rest of it. the one-way call for me is on radio and tv, we do have to really mention how you are developing this influencer kind of thing. you are influencing the influencers. i am really just honored to be with you as your linked with it. it is amazing. lisa: what is going on? jonathan f: i am hoping i can establish some kind of deal with glossy, just a male makeup line. something like that. lisa: happy thanksgiving. jonathan f: and then maybe you can join with me and we can do it for the older demographic. tom: i tried that. i went down and influence flames. lisa: i need something harder. jonathan f: we could have a j

many people, and the words of jonathan call-up, willing to look -- of jonathan golub, willing to look at the forward outlook. tom: we are getting into all of the year ahead looks and all of that parlor game. d a fewwhat ferro di years ago. forget about it, wait for march. would you say the consensus right is cyclical's, materials, and small caps? jonathan: overwhelmingly it is the consensus. that is the story. the other consensus story as well is the weaker dollar. socgen out to $1.27 on euro-dollar, year end 2021. we still haven't got through those levels from late august. we didn't close below them yesterday. a little bit of weakness again this morning. started to fade again. that is the call that sticks out. do we finally get the 2017 had story of synchronized global growth? tom: i get it. stronger euro, stronger yen. ¥95 is unimaginable. that ifturn to the idea you get that, those countries will react because they don't like it. we will have to see how that plays out in the coming weeks. what we are not talking about is the bond market. lisa abramowicz dozed off in the last hour.

coming up, jonathan golub joins quitecredit suisse with the year forward note.up 27, dow futures up exactly 300 points. this is bloomberg. ♪ good morning. futures up 27. dow futures continued to advance. some actually good response. we are thrilled to bring you lori heinel with state street global advisors. .eputy global cio lori, we have not talked about bonds, which comes down to trying to figure out the risk-free rate at the zero bound. how do you do that so you get to an intelligent asset allocation? now, bondsinly right still play their role in a portfolio. sohave had sharp selloff while they may not dampen the volatility as they once did, but they still offer protection. we are roughly neutral on a strategic allocation basis. when you look at some of the concerns with china, and there were a couple of defaults that got people thinking about what it meant for the future, are we too optimistic about the trajectory of china from here on? is one of the few economies that will grow this year, so while maybe the longer-term remains quite a challenge for them, th

jonathan golub of credit suisse was talking about this with us last week.h can you do this if this could go on through q1 into q2 before that faxing rollout really starts to make an impact on the kind of restrictions you can have in this economy, or rather the restrictions he won't need? tom: we are stuck out towards the end of the bridge, that cliche we knew in march, april, and may of this year. how far is that bridge out? .e have no clue jonathan: coming up, david rosenberg, chief economist and strategist at rosenberg. looking forward to that. this is bloomberg. ♪ >> the nightmare scenario would be if the unemployment rate begins to go higher. >> equity volatility and uncertainty remains elevated. >> in the very short-term term, we are very much due for a rough time. >> if we take a long-term perspective, we have a pretty supportive market. >> we are going to have a big year, 6% growth. >> the fed has been quite clear they expect the federal government to hopefully provide more income support. >> they really want congress to do with job, and that is not