kailey: i wish i could.o think about this conceptually, it is moving toward a cloud performing platform and it does not want to be reliant on the alphabets and amazons out there. couldn't you still have made this push into the meta-verse, couldn't you see that as your company's future and not rebrand it? would facebook have done this if it was not feeling the heat politically and it is kind of trying to muddle what's going on. tom: i would kill to get scott galloway on right now. you have to be kidding me. there it is. a few corrections. michael mckee, and his wonderful explanation of what we are observing in rome, there was a slip of the tongue where he was confusing and presidential view on this issue of abortion and pro-choice, pro-abortion and that, so we apologize for that. the president in support of a pro-choice position. and a correction, somebody was listening at one of those colleges i cannot pronounce in oxford because i am the ugly american, and i butchered the poetry of the 18th and 19th century

kailey: this is bloomberg markets. i'm kailey leinz.t was chuck schumer speaking earlier about leaders pulling the u.s. from the brink of default with a deal for a short-term debt ceiling increase. the debt ceiling is just one concern for investors right now. people are also wary when considering spacs. orlando bravo, founder of thomas brown go believes there needs to be more disclosure around returns. he spoke exclusively about that and why he is investing in octane -- blockchain. >> we will be big players on the bi outside as this industry matures, especially around blockchain technology. in many cases, blockchain provides better use cases for problems that exist, database software products. we are seeing this maturation and we will be participating. to us, it is just the software or digital market just became bigger, and is providing bigger opportunities for us. >> what does it look like in terms of the deals that we could see you do? companies you would avenue there --you would go after, biot models? >> first it is gross equity. lat

tom: kailey, thank you for joining us. kailey: thank you for having me. the bond market is closed.olumbus day and it is supposed to be quiet. it is not. we had a nobel economist. thank you for the first call from stamford in palo alto this morning. with that, the yield market moving in the anticipation of what we will see wednesday on earnings. another laureate in the 12:00 hour, paula roemer, on the world bank and the imf. this is bloomberg. good morning. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no stimulants, no starving, just results. results you'll keep for life. no more sacrificing to lose weight only to put it back on. no more sacrificing, period. it improves your lifestyle and delivers incredible results. with over 2 million satisfied customers, golo

kailey: absolutely. but i think you are also seeing that companies so far, and especially in europe, we were talking to katrina dudley about the luxury sector. tom: look for that out on bloomberg digital. she was wonderful on the persistency of free cash flow. i'm going to start with foreign exchange. a little bit of dollar weakness here. euro-dollar into the lagarde statement, ecb here and 42 minutes, and then onto the press conference. euro-dollar, $1.1607, very much rain bound over the last days. and bonds, all you need to know, massive flattening. we are now at 98 basis under a 1% difference between the two-year and the 10 year. two-year year yield higher, 10 year yield lower, and futures up 14 this morning as well. i need to be briefed. so do you, lisa abramowicz. lisa: we have been talking about it all morning. the ecb will plan to deliver their rate decision. at 8:30, we get words from christine lagarde. how do central banks address inflation rates that have reached the highest going back to 2008,

kailey: the point about whether it sending signals is a good one.t's come up over the course of the pandemic era. the equity market hasn't figured out yet. or they focus on earnings growth and companies resilience in the face of supply chain pressures. i would also note a lot of the movement in the bond market has come from higher inflation expectations. real yields are still very negative. we still have deeply negative real yields, can risk assets to ok? tom: we walked through the yield real -- real yields equation. who is doing the real yields tomorrow? >> i think taylor is paid -- is doing it tom: nominal yield minus inflation is the real yield. the residual. which of those three things matters, nominal, inflation or residual. lisa: it all matters deeply for all those people in the stadium it will be feeling pessimistic. i will say this, the bottom line is this. can we continue to maintain growth despite the fact inflation is going up. these are the questions we need to answer. tom: it is interesting and we will do more data checks. i want to emp

kailey: this is no longer just about adult.e awaiting an fda decision on the vaccine for children later this month. cbs put out a pall over the weekend that even among vaccinated parents 51% of them are willing to have their children get a shot. do understand that hesitation? joshua: it is a little premature to be making too much of those polls because we have not had a full airing of the data, a full discussion of the advisory committee. all we had was the claim by the company. i think parents are right to be saying let's take it one step at a time. just like with the adult vaccine, i think there'll be some people who jump out and want to vaccinate their kids earlier and some may be more in the wait-and-see camp. it will be really important for the fda and cdc not just to make a decision based on the evidence they have now, but to explain how they will get more evidence, how they will be able to share that evidence so people can see what is happening and build confidence with more people over time. kailey: is herd immunity sti

kailey leinz in the caterpillar seat, driving this morning. i really do look at the fact that central banks are in the hot seat as they try to gauge higher inflation at a time of slower growth. tom: lagarde has a lot to address. the headline just breaking across bloomberg on german inflation coming in a little bit above. that is a ginormous number come out to 4.6%. then you've got the key statement i see within all of the mumbo-jumbo of the ecb that ferro's expert on. i don't know why he doesn't. rates at the present lower-level lower level out there somewhere. linda ronstadt song come out there somewhere. lisa: basically, the market is pricing the sin. keep singing, tom. we are going back to a normal of low inflation, and this is what is supporting risk assets. the irony of a bond market that has a bearish outlook on the future actually edifying we are seeing in stocks. tom: this is perfectly framed. a red headline on the bloomberg of 4.6% german inflation, and out there somewhere is to percent inflation, according to the ecb. kailey: and the

kailey: at to cancel more than 1/4 of their flights on sunday. they blamed weather and traffic control issues come but southwest is also dealing with a bit of a revolution when it comes to their pilots, and group of them protesting the vaccine mandate. the airline said it was air traffic control problems, but you didn't see the other airlines having to cancel the same number of flights yesterday, so it raises some major questions. jonathan: 28% at southwest, i did not see that at delta, did not see it at united, did not see it at american in the same way. tom: this has to be reported out. we need to be very careful. we are always trying to be fact-based here. "the new york times" has a treatment that goes to what you said, they were down because of whether, because of government air traffic controllers out. why wasn't delta impacted? why wasn't american airlines impacted? but it is much more lit up like a candle in social media, a protest of people who in some form or another are anti-vaccine , supporting labor of southwest air. jonathan: southwe

kailey leinz be of huge help there next week.resident and the first lady at the vatican meeting with pope francis. he greets the gentleman from arch mayor academy of delaware. the vix from a 16 level, some tension to 18.03. stay with us. this is bloomberg. ♪ ♪ >> the dynamics of the spread, the duke -- the difference between the 10 year. it was grandma as they say --gamma, as they say. >> britain much, that's what we are doing and that will be be extent of it. at this is the issue. why has there been so much volatility when nothing is changed. what are economists clinging to to tell the new narrative that we are getting closer to the new normal? >> let's go meta. it's a granular research note. q3 grandma, but then you abruptly reverse to optimism -- q3, but then you abruptly reverse to optimism. >>'s we already know that things like airline numbers and hotel occupancy rates should have been up again after the delta hit. we went from a very stimulated second-quarter, a lot of that money was spent in the second quarter. but it was

kailey: the car industry is a

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kailey: methane hunters.ists and scientists sniff for hidden leaks before they cook the planet any further. sharon: the oil and gas industry is not containing their methane gas. zach: i'm seeing a lot of emissions coming from the tank valves.

kailey: power to the people.cling to staying off planes, we get to the heart of green consumerism and how important it is for the planet. vincent: and then we go to a product level, which is pretty unique, where we collect a whole lot of information about everything on a product that is listed on dayrize. the material it's made of, where these materials are sourced,

we got some movers this morning with kailey leinz.was your cross exit -- your cross asset price action. let's get to those earnings. kailey: ups is one of them. the company lifting its margin outlook. it has really been able to exercise pricing power and lift prices in the face of rooming e-commerce demand, so it is up about 4.5%. ge higher. the key metric for ge is industrial free cash flow. the share is up 1.3%. 3m did get a beat in the third quarter, but they trimmed the top and of their for your earnings outlook because of labor and price pressures, so that stock is slightly lower. eli raised its guidance next to the success of its covid antibody cocktail and the treatment demand for that, so it is up about 0.4%. the other earnings story out overnight, it is a big week for big tech. on facebook, they missed on the top line in terms of the third quarter and the guidance because of apple's privacy rule changes in part, but they also announced a $50 billion share buyback, so facebook is up about 2%. of course, the tech story of yeste

. >> kailey: beta chase -- >> beta chase at the end of the year. could you explain to me, michael purves? what is beta chase >>? -- if the benchmark is up 18% or so , they don't want to end the year trailing the benchmark by that much so they feel maybe i missed something. maybe i was too conservative. let me, if they have some cash on the sidelines they put into work and it helps propel into year end. if you go back to 1960, you will see that november, december collectively and individually are easily highest. >> shocked. michael purves, thank you so much for giving us, lisa, help me. we are going to beta chase in the meta-space. >> you gotta call it betta. >> tom, i can tell what you think about meta. you think it's a good name change for facebook? >> no. i grew up within the shadow of the american can company. lisa, my high school girlfriend father works at the american can company. it was taken out buying fancy financiers by the liberal state of connecticut and they changed the name to primerica. whether it primerica or sci-fi, it's just desper

jonathan: kailey leinz with us today, tom keene, jonathan ferro.orward to more of that production down the road. tom: you are so sensitive this morning. jonathan: the question i get the most often is " do you actually like each other?" that is pure love! this is bloomberg. ♪ this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you

jonathan: you know what the big mystery is kailey: how divorced -- mystery is?ow divorced the conversations are we have a rose are -- we have every day are with the market. when people talk about the doom and gloom and margins, you've got an equity market just short of all-time highs. it is getting harder to reconcile the conversation we have daily on programs like this and where the market is. jonathan: andy pullback -- tom: and a pullback like today is crushing, negatives .07% -- -0.07%. jonathan: every time there is a pullback, we need to talk about the durability of the so-called fed put and how durable that fed put can be. have we finally broken out of this lower inflation regime? that's got to be top of mind for bread much everyone worldwide. does the fed have the capacity to keep supporting and equity market if we break out of a low inflation regime that has dominated the economy for the last 10 years? tom: we heard it on deposits from the major banks. the wall of money out there is still there for the bid. lisa: which is creating a bit of a conundrum for