jonathan: lisa shalett joins us now.reat to have you on the program, talking about inflation, cpi coming in at 6.8% in line with estimates. what is your read on that? lisa: this is not a new data point at all. we were expecting a big number, it came in right at the consensus estimate of 6.8%. our concern at the minute is less about the fact that the fed is now likely to accelerate taper and bring forward the hikes in line with what has been discounted in the market already, and more about what is going on with the shape of the yield curve and the terminal rate. one of the things that appears to be discounted, given the current shape of the curve, is this idea that the fed remains behind the curve and that they will have to not only start hiking sooner, but once they do so, at a rapid pace. that rapid pace then undermines the cycle, which is why your 10-year yield is anchored down at 1.5%, terminal rate that is about at the same level. that is we think there will be some surprises. we actually don't think that the fed wil

jonathan: lisa shalett of morgan stanley will join us at the top of by our. -- at the top of the hourok forward to the opportunity to be on my own and operate in a different gear. more relaxed. it is very zen from 9:00 to 10:00. lisa: weight is the book? jonathan: the book comes out for christmas. lisa: what is the title? jonathan: we have not got there yet. tom: he sold the movie rights from capri. lisa: who plays john? jonathan: i am playing myself. like sylvester stallone in rocky. he wanted to play himself. the tale of a hero. it was in philadelphia. equities up by 1%. i am going. this is bloomberg. ritika: at the u.s. supreme court today, it is the most consequential abortion case in a generation. justices will listen to arguments on mississippi's ban on abortion after 15 weeks and the landmark roe v. wade ruling. a decision upholding the law would give states the okada curve access to abortion. cases of the omicron variant are popping up. meanwhile, president biden is expected to announce new pre-boarding testing requirements for all travelers in the u.s.. japanese airlines have