michael bloomberg, business in china.uation with barbara boxer, she was a senator for 24 years. he's 80 years old. it's like, just retire. wyatt 80 years old as if she's not a million or already are you taking money not from a chinese sneaker company but a chinese surveillance company. these people, they work in government, they don't do much except get rich. then they work for the lobbying companies. we know this. this is why trump won the first time around because he promised to drain the swamp and this is why the swamp why this very moment as we see the swamp reconstitute itself and get rid of whatever is remaining of tropism, it's a gross thing that makes people hate politics. we really need to rethink it because it's not working anymore. people can see it too easily now. they have seen it and we are going to continue to see it. >> sean: great work, both of you. peter, thank you. great work. when we come back, project veritas, exclusive tape. we will show you exposing pbs's outright hatred of you. straight ahead. >> s

the same method had been used in new york city mayor michael bloomberg suggested along limiting the size of jumbo so those sold in restaurants. bloomberg was mocked as a scolding ninny and the courts ruled and the industry's favor. in this faceoff between corporate freedom and consumer protection freedom once again seemed to be the private property of the most powerful i represent a part of san francisco that was emigrate people people who speak english as a 2nd language people who live in subsidized housing public housing tenements and the one thing that we all had in common was that we were dying from preventable diseases dying. and you know. it was just really hard to accept. seem like. people didn't care the industry didn't care they continue to target. their money and their resources to get people addicted. so that. they become wealthier. so. what brings me to this entire conversation. is that. i don't want to want people to die. and if it means changing policy. to change educating people so that they are aware of the choices that they have in bringing more choices to people then th

the same method had been used in new york city when mayor michael bloomberg suggested a loan limiting the size of jumbo soda sold in restaurants. bloomberg was mocked as a scolding nanny and the courts ruled in the end just respond ever. in this faceoff between corporate freedom and consumer protection freedom once again seem to be the private property of the most powerful i represent a part of san francisco that was emigrate people people who speak english as a 2nd language people who live in subsidized housing public housing tenements and the one thing that we all had in common was that we were dying from preventable diseases dying and you know it was just really hard to accept. and thing like people didn't care the industry didn't care they continued to target their money and their resources to get people addicted so that they become wealthier. we sweeten the world's died because the markets no longer were growing in europe in the u.s. so coke and pepsi and all the clones all the local companies that do the same thing exploded their marketing and in the lower middle income countrie

michael bloomberg argued in an op-ed this week that the president could be doing more.e could use his bully pulpit to give political cover to fellow democrats. he could tell the unions, yes, i understand how we need to prioritize teachers here and actually take measures to do it. why isn't the preside dooutlodemocrats?>>. he just introduced a 1$.9 trillion plan to make sure that it is a whole community. >> brennan: but they need the help right now. >> that's an issue both sides of dealing with. they're both at the table. teachers are concerned about their health, and making sure they can teach in a safe environment. if you look at the c.d.c. study, the c.d.c. study that just came out said with the proper stmentwith the proper spacing and class sizes, schools could reopen safely. but another key aspect of that c.d.c. study is they didn't test all of the students and teachers. they just tested people who were symptomatic, and the class sizes in that population were between 10and 20 students in a class. look, we are very serious about making sure we pass a plan that gives

yousef: that school is supported by michael bloomberg, the founder of bloomberg lp and bloomberg philanthropye are going to see the engagement of the united states. >> we remain optimistic. >> i think there will be a dramatic recovery. >> i would feel very upset if the -- continues. >> china can avoid decoupling if they stop inappropriate actions. >> it is not enough to conduct diplomacy with china through a megaphone. >> the relationship between the u.s. and china will remain similar to how it is today. yousef: some of our guests talking about the outlook for u.s.-china relations on the incoming vice president. china is exhilarating growth along with joe biden's's stimulus growth. the head of global macro and asset allocation spoke to bloomberg about the outlook starting with the fed bond purchasing program. >> the tapir is on the table right now. that is clearly what powell was indicating. i think we are going to have a strong economy in the second half of the year. that is the message from the central bank. they're going to continue to buy $80 billion in treasuries, $20 billion in mortgage

that school is supported by michael bloomberg, who is founder of bloomberg lp and bloomberg philanthropyg up next, bank earnings roll on. we are told what to expect as we get numbers out of goldman sachs and banc of america this week. this is bloomberg. ♪ haidi: time for morning calls with sophie in hong kong. we just saw the first weekly gain when it comes to the dollar since september. what is the read on where it is headed? >> we are seeing some stability for the greenback ahead of joe biden's inauguration. mark chandler thinks that pressure continuing for the dollar into this week. the medium-term outlook does remain bearish. over at goldman, the risks to the consensus for dollar weakness, they are very much in focus given optimism over u.s. growth. factors like the vaccine, the fed funds rate sooner than expected would help the safe haven dollar appreciate. goldman sticking with our call for broad weakness. continuing to stay long on the aussie versus the greenback within g10 and recommending they stay long. the indian rupee, given that exposures to risk and commodity upsides would

the same method had been used in new york city when mayor michael bloomberg suggested a loan limiting the size of jumbo sodas sold in restaurants. bloomberg was mocked as a scolding nanny and the courts ruled in the industry's favor. in this faceoff between corporate freedom and consumer protection freedom once again seemed to be the private property of the most powerful i represent a part of san francisco that was emigrate people people who speak english as a 2nd language people who live in subsidized housing public housing tenements and the one thing that we all had in common was that we were dying from preventable diseases dying and you know it was just really hard to accept. and thing like people didn't care the industry didn't care they continued to target their money and their resources to get people addicted so that they become wealthier. we sweeten the world wide because the markets no longer were growing in europe in the u.s. so coke and pepsi and all the clones all the local companies that do the same thing exploded their marketing in the lower and middle income countries me

. >> a fly landed on hillary clinton's face during a 2016 debate and also band on michael bloomberg'sare desensitized. >> we have earned it. >> donald trump and milania trump confirmed they tested positive for covid-19. >> the president and first lady tested positive for coronavirus is one of those stop where you are. >> it was surreal. >> people didn't know what was going to happen. >> you know things are very real. >> a moment he leaves the white house has get on a helicopter to fight to the hospital. >> than the man comes out of it like a champ. >> he was in the hospital for an hour. i will take that drug. >> the helicopter lands on the long, he walked across the white house robbery up the stairs and on the balcony and salutes air force one. the only thing he needed was a soundtrack. >> the final weeks leading up to the election if all's were to believe, clear that biden had a massive advantage over donald trump. >> he shows up and put a sentence together and america wanted to live. >> donald trump said screw it i will go to the rallies anyway. >> covid-19 be damned i've got to win

annmarie: that was ceo david solomon, goldman sachs chairman and to add a disclaimer, michael bloombergr and majority owner of bloomberg lp is cochair of the goldman sachs 10,000 small businesses advisory council. we had breaking news in georgia. nbc is projecting raphael warnock is going to defeat incumbent kelly loeffler in the georgia senate special runoff, one of the two seats up for grabs. that, he would make history as the first black senator from georgia. this is coming from nbc news. networksaiting other to come with their projections but for now, nbc is projecting that seat will go to warnock, the democrat. take charge,udis the kingdom announcing a cut in crude production. a bold move which sent crude prices surging. that story next. this is bloomberg. ♪ manus: it's "daybreak: europe." i'm manus cranny in dubai. saudi arabia has stunned the market by announcing a crude oil production cut of a million barrels a day in february and march. it was a sovereign decision. what does that mean? energy ando our commodities editor for north africa and the middle east paul wallace. they st

the same method had been used in new york city when mayor michael bloomberg suggested a long limiting the size of jumbo soda sold in restaurants. bloomberg was mocked as a scolding nanny and the courts ruled in the industry's favor. in this faceoff between corporate freedom and consumer protection freedom once again seem to be the private property of the most powerful i represent a part of san francisco that was emigrate people people who speak english as a 2nd language people who live in subsidized housing public housing tenements and the one thing that we all had in common was that we were dying from preventable diseases dying and you know it was just really hard to accept. and seem like people didn't care the industry didn't care they continued to target their money and their resources to get people addicted so that they become wealthier. the word.

michael bloomberg the company x x its management business to be a driver of growth. -- the company expectst business to be a driver of growth. >> we are moving with urgency and we set the bar for ourselves higher than others. investors or other constituents. we really want to make sure we can move the agenda forward. we need to do it in the right way. we need to do it in a way that is controlled and in a way that helps us achieve our objectives in servicing our clients and really being there to support our clients which starts with having a strong balance sheet. we saw that in the quarter. liquidity levels are really strong. we have seen good performance in our underlying credit portfolios so having that foundation to work from i think is going to be really important. annmarie: you got a lot of questions about the asset cap on the call. i know you are knot in a position to talk about that, but while it is still in place, where do you see your big growth drivers? mike: when you look across our businesses, and a big part of the reason i came to the company, is we have very strong positions i

we look at michael bloomberg, same thing. he had dealings in china, legitimate businesses.ch of any imagination to the bidens have any kind of legitimate business that the chinese were pouring money into. he was about currying favor. the bidens got millions and the bidens didn't care that it put them in this compromising position and there's going to be much more reporting on this by us in the future. >> sean: dave rubin, i look at all of this and i'm listening to listening to the media mob and we are actually going to put them in nice little spins and sections. t i just think there might be very dramatic shifts in opinions on these issues in the months and maybe years ahead. maybe sooner. >> people have just had it, people have had it with the swamp. it's really as simple as that. a good one, the biden have no business in china. trump has business in china, that'sna a good point. but the situation with barbara boxer, she was a senator for 24 years, she's 80 years old. it's like them i just retire. why at 80 years old as if she's not a millionaire taking money not from a ch

advocacy of small business of goldman sachs, michael berg is also the cochair of the goldman -- michael bloombergs also the cochair of the goldman sacs advisory council. mr. goldman was discrete. lisa: they are towing a fragile line because a lot of banks have been expanding in china and trying to create ardor ships there, -- create partnerships there. is what happened with the new york stock exchange reversing rapidly and the stocks that plunged and are now gaining value. our bloomberg podcast and business anchor and wealth management founder, what did you make of this that the new york stock exchange had seven weeks to come up with a plan and signaling they were going to de-list these companies and then suddenly reversed course? barry: the whole thing is very perplexing. i am loath to guess what anyone was thinking about. i suspect we will get a fuller picture over the next couple of months. this is why people are not thrilled when d.c. interjects itself into the capital markets, with the obvious admission that the sec is in charge of regular -- the fcc is in charge of regulating this. the whol

was exposed and written about, then it was dismantled, this happened during the marriage of a michael bloombergnew york, i am mentioning these because these are government sanctions, actions taken against american muslims that go beyond that there was hate crimes, of course they were, of course there was a period of time, in my memory it was something and it's because it something that i have an experience like that before, before 9/11 i would meet people and say i was born and raised in morocco and they would start talking to me about the arab world, the idea that morocco was connected to the arab world, then after 9/11 -- >> you were supposed to have all the answers about isis. >> that to but i am saying that 9/11 -- before 9/11 people would treat people like me as arabs as after 9/11 we became and that was only identity, even though were both, i'm both. there was a perception that everybody was lumped into the same group. in my mind it's a period of time an environment of fear and also on a personal level it something i experience in various ways and comments in the workplace and different t

the same method had been used in new york city when mayor michael bloomberg suggested along limiting the size of jumbo soden sold in restaurants. bloomberg was mocked as a scolding nanny and the courts ruled in the end just streets favor. in this faceoff between corporate freedom and consumer protection freedom once again seemed to be the private property of the most powerful i represent a part of san francisco that was emigrate people people who speak english as a 2nd language people who live in subsidized housing public housing tenements and the one thing that we all had in common was that we were dying from preventable diseases dying and you know it was just really hard to accept. and seem like people didn't care the industry didn't care they continued to target their money and their resources to get people addicted so that they become wealthier. come. on. we sweeten the world tighter because the markets no longer were growing in europe in the u.s. so coke and pepsi and all the clones all the local companies that do the same thing exploded in marketing and in the lower middle inco

john hopkins school of health is supported by michael bloomberg. up australia's national native title counsel says mining companies need to have more respect for indigenous culture. we get more on that with jamie lowe. this is bloomberg. ♪ haidi: australia's largest ever native title sentiment takes effect this year. it covers land in western australia and recognizes indigenous people as its owners. -- has been a vocal proponent for indigenous rights. jamie lowe is the ceo of the national native title counsel and joins us now from melbourne. great to have you with us. it has been almost 30 years since the concept was overturned as a legal fiction. as it taken too long to get to this point? >> it definitely has. our people have been waiting too long for our rights to be recognized in this country and native title it was an enormous step recognizing that our people i've been here forever with the same custom and culture and law, and i congratulate the people forgiving -- for getting such a significant settlement but it is something the rest of the na

a reminder, johns hopkins school is supported by michael r. bloomberg.n mention a good for the hedge fund. has in 2020 as the pandemic oil markets. we will be speaking opec next. mark: i'm mark crumpton with bloomberg's first word news. we are learning more about what led up to the hour-long long phone call with president trump, pressuring georgia election officials to turn the november way.ion his on december 31, the president sued georgia secretary of state brad raffensperger and georgia governor brian kemp, trying to force the state to "decertify its election results" and allow its republican led legislature winter.re the the suit complains that president-elect biden won the state by "only 11,779 votes." that is one vote shy of the number of votes the president told raffensperger to "find" in this weekends call. scotland is going into lockdown again as coronavirus cases spike. first minister nicholas surgeon told the scottish parliament in edinburgh there was no choice but to take more drastic action as hospital admissions reached levels not seen sinc

many businesses, people killed, police, michael bloomberg let people out of jail with his money, and you don't hear nothing, and i'm not saying violence is good. it is not right, i don't care what side of the line you are on . you can't finger-pointing and put certain actions -- at least similar actions and try to draw a line and pick and choose. it is either all or nothing. i am glad that i haven't seen your hand really close to the button because you do as soon as you get a republican caller. host: i have to move the conversation along as all host to sit in this chair. we tend to move on if you are off-topic. we are also going to move on so we can stick to the conversation. this conversation is over for now. we are going to switch topics. coming up later on in the program, we will talk about president biden's new oil and gas lease moratorium on federal land. we'll also talk about his environmental and climate change agenda. lesley clark, energy reporter from e&e news will join us. coming up next, we will be joined by scott paul, president of the alliance for american manufacturing,

were people in south carolina and the black community that were even talking about moving to michael bloomberg if joe biden messed up in another debate. you were so wired in that entire process. i remember you calling me and saying jim clyburn is coming out. he's going to support joe biden. he's going to make all the difference in the world. boy, it really did. that losing campaign that joe biden was suffering through turned around immediately in south carolina. never turned back. and we can say this now, about a year later, 11 months later, it was the most dramatic turnaround that any of us had seen in american politics in our lifetime. >> it certainly was. when you look at the fact that joe biden had come in as total ly defeated in the primaries and caucuses before that. and the media had written him off. and jim clyburn, who has unparalleled strength and credibility in south carolina, when he told me a couple of days before, we were there. the debate was going to happen. they were going to have a minister's breakfast the morning after the debate. and he told me, he said, all right, after yo

you ask people to reverse that cycle who are actually elected, rudy giuliani, michael bloomberg, thoseew york city. maybe in other cities. but in new york, for whatever reason, the electorate, those people who vote seem to be continuing to move to the left. and there's nobody on the horizon that's going to change it, nobody electable on the horizon, i should say. maria: that is a sad state of affairs. ray kelly, wonderful to see you this morning. thanks very much for your insights. >> thank you, maria. maria: we'll see you soon, ray. we'll be right back. yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp... put them together. save even more. some things are better together. like um... tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. now, that'd be a mess. i mean for starters, porcupines are famously no good in a team setting. save even more when you bundle home and car insurance. save even more when you bundle these

vonnie: thanks to our panel, though wonderful michael mckee and of course bloomberg opinion columnist brian chappatta. coming up, president-elect joe biden said to release the details of his pandemic relief package. that's at 7:15 this evening. and we will break down what is going on with impeachment proceedings. this is bloomberg. ♪ >> welcome back. we are waiting for president-elect joe biden to unveil a relief package that will bring relief to many americans in terms of businesses and personally. but it's all overshadowed by the events of this week, including the second impeachment of president donald trump. how will the biden agenda be influenced? tina fortin is with us now. -- tina ford home is with us now. let's start right there -- i'm sure president-elect biden would like us to focus on a bunch of things. attention will stay on impeachment and the steps. how much of a detriment do you see that in washington right now? tina: clearly the incoming administration would like to see the senate part of the impeachment trial, the conviction take place after he takes office and that ha

like to welcome back all of our viewers on bloomberg television and listeners on bloomberg radio around the world. i michaelinternational economics and policy correspondent for bloomberg. we are joined by a very special guest. the president of the san francisco federal reserve bank joins us from california. thanks for joining us today. as i was saying before we went on, it is good to see you again because it has been so long since we've gotten to see each other. >> you, too, thanks for having me. michael: i have got to start with the news of the day, ugly all this claims -- ugly jobless claims figures. even if the numbers are somewhat distorted, do you think they are telling inaccurate story of the economy right now? >> the pain we are seeing in the labor market is greater than a symbol number like jobless claims. we can quibble about this number or that number, but the jump we saw is unexpected, in my view. when i talked to the contact in the communities and businesses, you see this in the mobility data -- as goes covid, so goes the economy. these are real people without jobs trying to cope with what is a

joining us now is bloomberg's michael mckee.ferent will this janet yellen be from the one we all know well over the last few years? michael: she is going to be different because this is going to be a political drop -- a political job. it is a question of when she is confirmed, not if. she's been confirmed four times before. this is an opportunity to sell the biden economic plan to the people who are going to have to vote on it. even some democrats don't agree with all of the provisions. she's going to say the economy needs it, and borrowing costs, despite what you said about bond yields picking up a little bit, borrowing costs are so low, we can afford it. that will be her message today. it will always be as interesting -- it will almost to be as interesting to see how members of the senate react. lisa: how closely are you looking at janet yellen's comments on taxation, the idea of trying to pay for the increasing debt load the u.s. is occurring? michael: obviously, the biden plan includes tax hikes on the rich lisa: it will be

i was watching it like a hawk yesterday on my bloomberg terminal. michael kuchma, morgan stanley investment management cio. how much upside do we have an 10 year yield? michael: that's a very good question. the fed is obviously very concerned with keeping the economy rolling along, keeping financial conditions easy. by our calculations, financial conditions in the u.s. are near all-time lows. very easy financial conditions. we had a nominal interest rate, real rate, credit spread, equity markets, etc. lately, we have seen inflation expectation rise, and nominal yields have risen from in september.w i think that so far, they are not concerned with the rising of nominal rates, because the economy expectations are stronger. inflation expectations are up, surreal yields are not going up. it would be a concern if real interest rates went up. rising, that's ok. financial admissions will not be tightening under those circumstances. guy: do you think there are going to be -- do you think people will be buying at this point, michael? i saw an adp print that was , is

albert glared -- michael r. bloomberg.st joins us to discuss the latest currency impact report. why the only thing that is certain is more volatility. we have that conversation, next. this is bloomberg. ♪ >> we are 15 minutes away from the start of trade in japan and south korea. let's turn to sophie for what we are watching. sophie: asian stocks looking to extend last friday's global declines. this as we wait on several decisions including from japan and malaysia. we are looking to see if we might get a lift in sentiment of expectations that china's gdp report will come in a beat ahead of that. the offshore yuan snapping a four-week advance. let's take a closer look at what's happening in sydney. we have shares under pressure with iron ore miners like the hp group leading the decline along with banks. following -- other oil stocks as well. we did have an update from the company saying that it has a supply deal with -- looking to expand its long-term supply agreement. up 6%. this after it was raised to buy at goldman. let'

it is supported by michael r. bloomberg, a founder of bloomberg lp and bloomberg philanthropy. continues to play into policy decisions. two big central banks meet today, the bank of japan and the bank of indonesia. our editor kathleen hays is here with a preview. we have had trade numbers out of japan. does this play into what we expect today? kathleen: there is a lot more going on than the trade numbers. the boj, that is the number you would like to see. meanwhile, what we have got is bigger in the background. that is the fact that various cases have picked up again. . the state of emergency has been extended. that is what is expected to slow the recovery that the boj has seen start. now they will be worried about what is happening. that is the thing we are watching most closely, what they tell us about the outlook. prime minister suga has extended emergency areas to regions of 60% of japan's economy. that will be an issue. they are expected to cut -- downgrade their economic outlook for the next three years. and cut their first quarter growth forecast. right now, the fiscal y

michael collins of pgim coming up. this is bloomberg. good morning. ritika: with the first word news, i'm ritika gupta. the house is set to issue a largely futile ultimatum to vice president mike pence today. democrats will demand he invoked the 25th of a meant to remove president trump for office. if he doesn't do so, there will be a vote to impeach the president for the second time in a little more than a year. pence and the president met last night for the first time since the president's supporters stormed the capital. he is signaling he would reject demands to immediately oust the president. tension is growing in washington, d.c. in advance of next week's inauguration. as many as 15,000 national guard troops will be sent to the city over concern there could be more violence. the fbi is warning there could be armed protests in all 50 state capitals, and the ad reps abrupt isn -- the ignition of acting homeland security chad wolf -- the abrupt resignation of acting home and security chad wolf added to the concern. campaign pull contributions follow

michael scholl next. this is bloomberghis morning, things changed at the --after the elections. a heated debate has come a near $2 trillion in stimulus, more coming as joe biden gives to congress information on the state of the union come february. financial markets are quite3 new debt yields are lower. a moonshot revolves from 90. lincoln is missing, can trump exit the white house? they say there is a bust of lincoln. would someone please count the silverware? shades of the lincoln 20 years ago -- of the clinton's 20 years ago. this happens every time ts

. ♪ >> this is bloomberg markets, though european close. michael investment partners chairman and ceo. 2:00 p.m. in new york and 7:00 in london. this is bloomberg. ♪ check in on the bloomberg first word news. democrats on the verge of taking control of the u.s. senate. defeatingnock incumbent republican senator kelly loeffler to win one of two seats in the georgia runoff election. he will be the first black senator. democrat jon ossoff's race against david perdue is too close to call. he has a 16,000 vote lead and has claimed victory. donald trump has signed an executive order banning u.s. transactions with chinese software. there is a catch, the order does not take effect until after donald trump leaves office. it will be up to president biden to decide whether it stays. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. , this iska gupta bloomberg. alix: a lot to talk about when it comes to tech. mandy, our bloomberg's senior technology expert joins us now. t

coming up, michael kushma, morgan stanley. this is bloomberg. ♪ ritika: with first word news, i am ritika gupta. gamestop rallied after brokerage robinhood said it would look to trading richard shenzhen some of the stocks. robinhood ignited an outcry from customers and american politicians. meanwhile, the brokerage raised $1 billion from investors after the stock market central clearing have demanded more collateral. president biden is working the phones, trying to round of the republican votes for his 1.9 joined other stimulus plan. he spoke to republican senators susan collins and rob portman this week. republicans have given the stimulus a cool reception. winning bipartisan support would enable it to move more quickly through congress. the european union is raising pressure on astrazeneca over coronavirus maxing shortages. the european commission president demanded that the drugmaker fulfill its contractual obligations. the dispute was triggered by the decision from astrazeneca to prioritize britain over the eu. british prime minister boris

coming up, michael gapen of barclays on the future economy. on radio, on tv, this is bloomberg.b- [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) ,om: bloomberg surveillance good morning on radio and television. mormon -- an historic morning for the nation. hours,ng in the last 12 the president and vice president speaking. on we go to a presumed folk today. kevin cirilli suggesting tomorrow is when we could see the house act on impeachment. very much undecided what the senate will do as well. in the markets, yields higher is the major story. they have been persistently higher. a 1.17 ago, a print of on the 10 year yield, that is of note. lisa: this idea t

coming up, michael mckee as we look at the economy. this is bloomberg.anna lose weight and be healthier? it's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. tom: good morning. "bloomberg surveillance." there has been a jon ferro sighting. the thing that really matters, the pulse of american retail. michael mckee? michael: we have a lot of different numbers coming out. retail sales is the headline and the one coming out most slowly. manufacturing 3.5, down from 4.9. no surprise. final demand is up .3% on the month, year-over-year at .8%. no inflation into the system. retail sales down by .7%. the forecast was for flat, so it is much worse than

tom: we welcome you all here on bloomberg television and radio worldwide. michaelee with that report in a moment. julia coronado, one of my themes is hysteresis which is agonizing longer-term unemployment that seems to be tangible. what does hysteresis mean within the service sector economy? the things we learned from the last recovery is that hysteresis is not permanent. people can come back to the labor force. when the job market is strong enough and the jobs are there, people will come back. we saw impressive gains in labor force participation in the five years before covid that nobody really expected. i think in the current pandemic, that is even shorter. it hinges on getting the pandemic under control and getting open. if people can send their children into the schools, the prior pattern of labor engagement can come back. am optimistic we can get back to recovery but it hinges on getting the pandemic under control and the public health situation squared away. lisa: one of the factors is not only did we have this disruption to the labor market from the pandemic

michael au, district capital managing director. former ibm boss speaking to bloomberg her career including her focus on diversity and the empowerment of women. you are with bloomberg. ♪ haslinda: we are going to hear from ibm's former ceo ginni rometty who is leaving the company after more than 40 years. she spoke about her commitment to diversity and empowering women, plus how she led ibm through decades of change. >> i came from a single mom, who, to get us off food stamps, found her way to get back to an associates degree so she could get a job and we could go to school. i have had a scholarship from general motors through northwestern university. i first did work there. for that. -- before that. then i went to ibm. i love what mary does, she is passionate about cars. i wanted to apply technology to a lot of things. i went to ibm and the first day, of course i didn't have a blue suit. i hadn't had one. i'm not sure i had any suits. this was back in time, right? this is 1981. i had a blue suit, i came home from work, took my jacket off, put it on the couch and my hus

michael regan. we will have to find out what his name on reddit is. this is bloombergmark: i am mark crumpton with first word news. the top infectious disease expert is worried about a push to delay administering the second dose of covid-19 vaccines . speaking at the davos agenda event, dr. anthony fauci also talked about the weaknesses of the u.s.'s response to the pandemic. >> went public health issues become politically charged, like wearing a mask or not becomes a political statement, you cannot imagine how destructive that is to any unified public health message. mark: dr. fauci added he is concerned about the vaccine because it is not fully effective until the second dose is administered. new york city will delay opening vaccination mega-sites at yankee stadium and city field as shortages leave the city unable to meet the goal of one million doses by the end of the month. mayor de blasio says

tom: it will be interesting to see, i was kidding michael mckee about it, who asks questions for bloombergnd some of our other team. it's just a total nonevent and sometimes that's when a bombshell drops. jonathan: he's just trying to build it up a bit. tom: i mean you called it a news fast and you were accurate. the goal is to get through two hours and moveon for any number of reasons, including a new relationship with secretary yellen. lisa: my question is who has more influence over who at this point, the market or the fed? at this point the fed is scared of creating another taper tantrum and the markets expect them to not rock the boat. jonathan: the market is hardly pushing for anything at 1% on a 10 year. tom: we are missing the main story other than gamestop foolishness. what a good day to talk to robert prince of bridgewater and for you and i to recapitulate what we did in davos. jonathan: 12 months ago. the bridgewater cio, looking forward to that. alongside tom keene and lisa abramowicz. where does that come from? that foreigner. think i will let that slide? tom: john, you have a

bloomberg radio, nationwide. we are going to dovetail markets. michael mckee, moments ago in the world headquarters, will join us near 8:30 a.m. on jobs. on markets and returns, market drawdown, troy joins from skybridge capital. i take great issue with the way media covers hedge funds. we are always looking for people percent.p a jillion you people are expert at studying the middle ground. how to the average hedge fund do last year? troy: they trailed equity markets, somewhere 8-10%, providing good contextual support. if you look at the last four months in particular, equities forward earnings range. most strategies got warmed. corrections in september, october. you have the rally in november, december. that leaves 6% on the time horizon. ityou look forward, clearly, will be difficult to make money in bonds, pretty much the entire year for fixed income. 4%, veryd, barely at difficult to make money. or minus.14%, plus hedge funds should have a fighting chance to put up a high single-digit return. lisa: are hedge funds hedging anything or are they leverag

bloomberg's mike mckee. what do you make of that? michael: manufacturing has been a strength around the world. we saw that in the market pmi numbers over the last couple of days. , the markets u.s. number went up. we did see a lot of slow down in december going into january, but up,ou noted, numbers coming so for still in business spending money. goes up tos number 51 point five. it was an contraction territory last month, 48.4, so we are seeing a bit of a payoff from these orders as more people go back on the payrolls. at least that is the sentiment for the month. we will have to see thursday when we get the services index because it is the services that have taken on the chin, especially restaurants and bars over the last months. coming inhe money from production manufacturing is still fairly strong, that does give you some good news, or at least some reason for optimism that things may not be as bad as a lot of people are anticipating. one data point, and a lot more to find out this weekend with manufacturing. alix: mike, thinks a lot. let's get right to the markets. joining us is david bal

michael shaoul there. coming up, mama del ray -- mohamed will talk inflation and treasuries. this bloomberg♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. ritika: this is "bloomberg surveillanc

and coming up later, michael schumacher from wells fargo security head of strategy is reassessing $2.2 trillion waves. this is bloomberg. ♪ ritika: it's up to the senate, the house put president trump in the history books, impeaching him on a single charge of insurrection. this is the first time any president has been impeached twice. the resolution was supported by democrats and 10 republican. it now goes to the senate which has refused a request to bring senators back and start the trial before next week's inauguration. meanwhile president trump called on americans to unite and avoid further biden -- violence. the video was released one week after capital. the president condemned the violence and it says that it goes against everything is movement stand for. he does not -- did not mention the vote. lawmakers have been told that coronavirus relief plans will be in the $2 trillion range. biden unveils that proposal today which includes direct payments to american families and state and local funding. in china, a payday record high in december, exports rose more than 80% from a year earlier. electronic goods surged in 2