tom: that's right where wanted to go, jack fitzpatrick.me, it is very important, you have social infrastructure and what we perceive as traditional infrastructure. the moderate democrats, the people winning 55-45, which of those two items do they want? which of those will keep them in washington? jack: the traditional transportation infrastructure is the easier one. r é amount of pushback from the moderate democrats on some of the more social infrastructure kind of proposals from biden, but they have had a bit more of a process focus when you look at senator joe manchin in particular, rather than the policy itself. and republicans have said we really want infrastructure infrastructure built. we will have to hear a little more if there is a democrat-only push for this legislation, what the key issues are for moderates. so far, they have more or less sided with republicans and said, "why don't we try to work together on something that does not hit on all of these social infrastructure, human infrastructure, and is more than traditional physi

tom: jack fitzpatrick nailing the porky debate in washington. porky, lisa.isa: the rest of the morning will be porky. a porky report. all morning long. tom: of major chastisement. you and i have to talk about the appropriated the management of event this -- uventus. lisa: i have about as much to say about it as you did four years ago. john will be back. you can talk all about that. matt: can i just say, even if the number of no-hitters in baseball triples this year, i would still rather watch mlb than soccer. so boring. tom: matt miller, thank you so much. cleveland indians struggling this year. we will continue with wonderful conversations. alan ruskin of deutsche bank. shifting to a skewed struggle of you. brian moynahan with david westin coming up later as well. futures at -12. vix at 18.27. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses

jonathan: jack fitzpatrick, thank you.r 10 year yield, 1.48% on the u.s. 10 year yield, higher by about a basis point. we are sub 1.50 percent. that is not where people thought we would be. a lot of people thought we would make move to do percent. tom: you are right. look at dxy, the blended dollar currency index. that gets my attention. it is not a breakout, but it is a little bit of a oomph to the dollar. lisa: the key question i have is that congressman's have moved past the pandemic. they have moved past the recovery. yet we still have labor market restrictions. i wonder how fiscal spending will dovetail into that to get some sort of critical speed. that is the question to me. jonathan: payrolls on friday. the biggest call right now on the street, one million plus among from pantheon, ian shepherdson, good friend of this program. 700,000 euros to. tom: how did britain -- 700,000 estimate. tom: how did britain lose to iceland? jonathan: really good team. nice fan base. [laughter] ♪ jonathan: live from new york city, for

jack fitzpatrick, great to catch up. when we say we have a deal let's talk about the we. is the week? -- we? jack: 21 senators. there was a deal negotiated by a group of partisan senators, 10 talking to the white house. they have the backing of a 21-person group in the senate. they have a ways to go. one, to get to 60 votes in the senate. the bigger issue is the number of democrats, including nancy pelosi saying this deal should go nowhere until there is a second deal, this reconciliation bill the democrat-only bill that gets them every thing they want on the family plan issue that biden proposed, on climate, potentially things on medicare. bernie sanders has called for lowering the age for medicare. when the speaker said yesterday the infrastructure built isn't going to get a vote until we get that second bill, that creates an uphill battle even for this bipartisan deal. taylor:, getting this right you have a bipartisan group of senators crafting the deal and then you have a group of congress members saying we will not vote unless bernie sanders crafts a $6 trillion bill

jack fitzpatrick joins, bloomberg government in washington. e tone of a bipartisan washington in discussion with china. it is it -- is it a bipartisan washington in discussions with russia? jack: it is more or less a bipartisan washington in discussions with russia. it is not always actionable. many congressional republicans are more russia hawks then former president trump. but the question is how exacting that manifests itself. right now, congress is working on a bill aimed at competing with china. when it comes to russia, they are seen as less of an economic competitor, but the question going forward will be what can congress actually do on cyber security concerns, which is an area where they have mostly sat on their hands in terms of legislating. tom: the tariffs, the boeing and airbus announcement, this has been talked about for the last 24 hours, and i believe we have the agreement now to suspend aircraft terrace for five years. great. you just assume this biden adminstration will pull back on all of the tariffs procedures and efforts tha

jack fitzpatrick joins from bloomberg government. ed in the news flow is the basic idea of how the democrats regroup. how do the democrats regroup? jack: on infrastructure and on their big legislative priorities right now, it is unclear what their path forward is. there is still an attempt for president biden to work something out with senate republicans directly, and there's going to be a meeting with senator capito today, although senator capito as of late yesterday was not sounding very optimistic. she said she didn't have a new offer to give the president, and the president still wants more money from senate republicans, so we may potentially see a senate bipartisan approach where a bipartisan group of lawmakers start working together, but there really is some frustration among democrats, and it is possible we will see them give up on the bipartisan approach altogether for their top legislative priorities and in something through the budget process that lets them just do this. but they need joe manchin for that. tom: ok, great. so

jack fitzpatrick. there is a -- this is a whole new world where we do not pay for things anymore.isa: i know. jonathan: from the bond market's perspective, this was meant to be the story we confronted through 2021 into 2022. lisa: the whole idea of modern monetary theory, just print more money and you will be fine. it seems like it has work in terms of bond prices not declining too much. yield staying pretty tame. and yet, the hawks are coming back. jonathan: the uncertainty for this market, the lack of clarity. taylor: i am dying a slow death. jonathan: just watching these talks. taylor: somehow you have to pay for it and eventually all the analysts say there will be enough dollar weakness that we finally realize that someone has to pay for it. but not now. jonathan: i thought you were dying a slow death because it was just boring. i hope it is not this show. taylor, thank you. coming up, david blanchflower. this is bloomberg. ♪ jonathan: from new york city, here is the price action this thursday morning. equities of 21 on the s&p. -- up 21 on the s&p. switch up the board to the

tom: thank you so much, jack fitzpatrick, greatly appreciate it this morning.a, i look at the back and forth, and there is the international but always about the domestic. we have not set about -- enough about the jobs report tomorrow. i have never seen it coming off of the completely missed report last time. lisa: and people are saying it is one data point, how much will it move the needle, but it is not, because the market and economy is opening up in a new way. people want to understand, are the frictions we are seeing keeping people out of the workforce continuing, or do they see -- do we see them add. -- them ebb. matt: and it is two data points because we are watching to see if there was another big missed class time. we are working to see if this confirms last reported not. lisa: it's true. it's going to be a really important report and comes at a time in a market. tom: stick with the calculus, you do that better. lisa: [laughter] tom: we are humbled by what happened 30 days ago, and that includes all the bloomberg economics, including carl riccadonna. w

entertaining, our jack fitzpatrick, bloomberg reported. to get it done of republicans versus some of the emotional infrastructure of the democrats. be it is about bridges, roads, tunnels, and the democrats say don't take out the leadpipe funding as well. how far apart are these two parties? jack: emotionally, they are not too far apart when republicans are talking to president biden. the issue they have cited is that they get closer and closer together and are in a very good mood on both sides in terms of finding common ground and focusing on what they agree on, and then afterwards, the rest of the biden adminstration will push for something a little more partisan than democrats want. so if there is a meeting this week as there is expected to be between republicans and the president had some point, the emotions are pretty positive and the mood is good. the question is can they actually follow through on that and turn this into legislative language that both sides can agree on. but the mood tends to be good when there is agreement between r