joining us is kiran ganesh, global head of investment communications, ubs wealth management. ank you for joining us this morning. all eyes on the jobs report later today. how would you characterize the risks going into the numbers? kiran: as i was with jobs reports, it is whether it is too hot or cold. investors will look at it on the risk side. a relatively weak month last month. if below expectations this month,, that could lead to concerns that the effect of the delta variant and weaker consumer confidence is weighing on the jobs market. if it comes in too hot, people may shift their focus away from tapering and maybe toward rate hikes. if it comes in line with consensus, then tapering likely to be starting to be announced in november this year. we think that will be in favor of things like the u.s. dollar as the fed. dani: it does seem like a careful balance that you're describing. in terms of what would prompt the fed to cut -- or to start tapering -- powell talk about this in his last meeting. listen to the sound of what he said. >> for me it would not take a knockout su

alix: let's get market perspective with kiran ganesh. e you in the transitory group or james gorman group? kiran: we are not allowed to call a transitory we have to say episodic. the key thing is we still think this is temporary. we have seen supply shocks across a variety of product markets, more recently energy markets, and that might make the fed more nervous about these policies. might make congress more nervous about the larger fiscal packages they are pig through but from a market perspective what is important his this is temporary. the market has shown it can look through things if it thinks it is temporary. guy: mr. gorman believes the market is going to have to price forward rate hikes. are you in that? maybe we get rate hikes of the market looks through it and is not worried about it. what is the goldilocks scenario for stocks? kiran: it is all about earnings. we started today and as long as they remain strong we think the markets can move higher even if rates are moving higher. that is the goldilocks scenario, rates move up bec

we are joined in "the european close" by kiran ganesh. ♪ it's moving day.ds are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. ♪ announcer: the countdown is on in europe. this is "bloomberg markets: european close" with guy johnson and alix steel. ♪ guy: thursday the 14th. 30 minutes to the close. stocks bouncing quite strongly. earnings outweighing inflation and growth fears. another bounce and commodities driving miners and energy stocks. a european electricity prices jumping sharply. grids are being forced back to gas and coal. you can gas up 9% right now. germany slashing growth forecasts but bottlenecks throttle growth. ikea is falling.