right now, henrietta treyz joins us, with veda partners.ant to go right onto infrastructure, and what you learned in the stimulus process. do the committees matter, as we go out to another $2 trillion of infrastructure over the next 10 years? does the committee process matter? henrietta: that is such a fascinating question. i was speaking with some of the chief counsel on the ways in mitty -- the ways and means committee, and the committee was positively inspired because it allowed the democrats to get almost all of their major policy changes enacted via reconciliation, so they saw that blueprint, they found that path, and effectively they are going to move in that same direction. for investors, we have real hearings so you can see exactly what is going to be in the infrastructure package through that live process. are we going to see the green act and all of those tax credits being included? i think it is a huge proponent here. well put. tom: i don't know what parliament is like in london, but this is a huge deal to see? back to some form

that conversation next with henrietta treyz.is bloomberg. ♪ alix: live from new york, i'm alix steel, with guy johnson in london. we have new cases of the virus rising of the slowest rate since the start of the pandemic. >> it makes absolutely no sense, and i have been saying that for so long. got to dissociate political persuasion from what is common sense, no-brainer things. alix: joining us is bloomberg's ed ludlow, taking us through where we were a year ago and where we are now. ed: right, so much hope in the economy resting with vaccines. a year ago, the fed cuts rates near zero and vows to buy $700 billion worth of bonds. the following day, the s&p 500 closes down 12%, and in the weeks that followed, different states declare a state of emergency. even at that stage, president trump saying that the economy will reopen by easter. hindsight is such a powerful thing. of course, that wasn't to be. from that point, cases and deaths really start to pick up. in may 2020, operation warp speed is announced with a promise of a vaccin

henrietta treyz on china and everything d.c.ncredibly strong lineup across all of the assets that would like to do here on radio and tv. i'm really interested in what kathy jones sees, what people are doing at schwab. jonathan: looking forward to that conversation. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market heading south for big tech. a monster fiscal plan down in washington. this is bloomberg. ♪ ♪ >> rates are going to keep rising until we get that disorderly market functioning. >> if the fed starts talking about pages and -- about tapering, i think that will be negative for markets. >> the market is looking for any positive data to continue to justify this march higher. >> there is a very strong correlation between the last two rounds of stimulus checks and the inversion you are seeing. >> half of the markets want to have better jobs data, and the other half of the market is scared of that because of the potential inflationary consequent is -- potential inflationary consequences.

henrietta treyz knows everyone is looking at a better unemployment rate. this jobs report, the enthusiasm to get going on a $1.9 trillion stimulus. henrietta: thank you for having me. i think this jobs number is extraordinarily helpful to the narrative that spending in the covid bill is sufficient and we don't need to do more, maybe to the republicans' point, you don't need the fall $1.88 trillion. d.c. does not operate on a month-to-month basis. you need consecutive month over month growth, especially with the ups and downs in the employment data for the last year, to have something that actually sinks in and d.c. i would not expected to derail progress on this covid bill. it will probably be signed into law by this time next week. the next step will be full steam ahead on infrastructure package. something i constantly think about, coronavirus and addressing covid is not a democratic policy platform. it is something that happened and the biden demonstration has to deal with it. going forward, the actual party platform, it has been infrastructure investment