it was led by michael bloomberg, henry paulson, and tom steyer. among the findings, if we continue on the same path, by the year 2100, the country could see $701 billion of coastal property underwater. $108 billion in average annual losses from hurricanes and coastal storms on the eastern seaboard and gulf of mexico. and in some states, a loss of up to 70% in average annual crop yields. extreme heat and humidity would also threaten human health, reduce labor productivity, and strain electricity grids. >> global climate change over time poses severe threats to lifen earth we knowt toda and as me goes , those sere threa become great and greer, and ultately i ink havehe poential obecoming castroph. even ifou' skeptal abo climatehange, the's denyi that ipresentsajor riskshat noompany, ty, or contry canfford tognore. >> ielieve t america busine communi can andust lead theay in heing toeduce the risks. to rise tohe challges of imate chge, theyust do so now.his is n a probl for anotr day. t investmts e'rmaking tay will determi our ecomic futu. >> accordi

you to rupali limaye, from the johns hopkins bloomberg school of public health, supported by michael bloombergs&p 500 down 2.1%. it looks like we got down to session those of about 2.33% on the downside. we will continue to focus on what is driving those losses, and that is oil. prices rising as the u.s. considers a ban on crude imports from russia. we will get insight from michael tran at rbc. mark: the white house is being urged to do even more about covid with the global death toll now topping 6 million. dozens of experts including former members of the -- covid task force have come out with a 136 page report warning against complacency in the fight against coronavirus. the washington reports -- washington post reports they are making 250 recommendations including vaccinating 85% of americans and restoring trust in the cdc. the european union's executive arm is mapping out a path to end the reliance on russian gas. bloomberg has learned that could see import needs cut by almost 80% this year. the european commission is revising its energy strategy after president putin's invasion of ukraine

. >> tucker: people worried about inflation, michael bloomberg's empire has information for you. inflation. so let your dog die and you'll save money. over the weekend, bloomberg had a more deep insights and we are quoting, not making this up, inflation stings less when you make more than $300,000 a year. take the bus, don't buy in bulk, try lentils instead of meat, nobody said this would be fun. so what's going on here exactly? wire a they telling us this was mike there are some geniuses and some of them post anonymously on twitter. here's what one said. "you're watching a massive level ponzi scheme. inflation laundered through a war in ukraine, the war and its effects go on to climate change but the perps walk! is that true. jason rantz, a radio host in seattle joins us. what do you think of this? jason is speechless -- >> no, now i am. there i am! my apologies. i was thrown by the idea of becoming a bus writing vegetarian. i thought i'd focus a little bit on the gas prices since it's been hurting so many people and i'm going to guess that the bloomberg editor actually take publ

louis fed president speaking exclusively with bloomberg's michael mckee. matt miller and myself, thanks so much for watching. this is bloomberg. ♪ mark: keeping you up today with news from around the world, i'm mark crumpton. judge ketanji brown jackson is facing the first of two days of questions from u.s. senators as they consider her nomination to the u.s. supreme court. she defend herself against criticism from republican senators who say she has been too lenient in sentencing child born offenders and has -- and is generally soft on crime. >> you know that there is someone who has written to me and has told me she has developed a agoura phobia. she cannot leave her house because she thinks everyone she meets will have seen her at the most vulnerable time of her life. i tell that story to every child born defendant. mark: judge jackson defended her work representing accused terrorist at guantanamo bay cuba , saying they had a constitutional right to be treated fairly. russian opposition leaner alexei navalny is calling on

bloomberg's michael mckee joins us.don't often get economists getting it absolutely on the nose. i think the real take away from it was that it is going to get hotter. michael: yes, and christine lagarde today saying it is the war determining the economy in europe. same thing here, but it was not that long ago that it was covid, the virus determining the economy. put them together and you get this kind of inflation. we've still got inflation hangovers from reopening the economy, and this is february prewar. i am trying to use the historical comparison to what we are doing right now. everybody talks about reagan in the 1980's. brush and have -- rosneft -- the head of the u.s. are the last time we saw this inflation, look how high that inflation number is. we have not experienced something like that, as kailey said, in 40 years. it is going to cause some social and political problems because it is not going to get any better. take a look at what went up. gasoline, six .6%. you know that when you go to the pump and you see

bloomberg's michael moore leading our bank coverage. where european stocks have settled. this morning the price action absolutely epic, a massive gap off the open versus friday. as i say, we fill that gap largely, not completely in the case of the dax or the cac 40, still down 2%. the london market heavy with energy stocks and heavy with metal stocks, certainly come back a long way. still trading below 7000. we'll carry on the coverage at the top of the hour and analyze the events we have seen today. we've seen the press conference between boris johnson, mark ruda , and the canadian prime minister justin trudeau. will analyze what that means. the markets all over the place. kailey: we continue to follow the markets. we will also get more political analysis. coming up, the third round of talks between ukrainian and russian officials are underway in belarus. we will discuss with edward lucas. this is bloomberg. ♪ ritika: you're looking to live shot of the principal room. coming up, angela stent, professor from georgetown university js blo

emily: bloomberg's michael tobin, we will continue to follow airbnb's efforts here and see how many ukrainianugees take airbnb up on this generous offer. thank you for that report. bloomberg has learned i fit valuations fell. the peloton rival now valued at below $3 billion after announcing a restructuring and layoffs. their brands include nordictrack and pro form. coming up, starlink activated. how elon musk is preventing ukrainians from being cut off from the internet. we will explain. this is bloomberg. ♪ emily: welcome back to bloomberg technology. star link, spacex's space-based internet service is active in ukraine. this according to a tweet from elon musk paired the world's richest men promised more hardware is on the way to help ukraine in response to a plea from the country's vice prime minister. joining us with the latest, let -- ed ludlow. talk to us about what star link is doing in ukraine. >> they have moved so quickly. elon musk tweeted that at 2:00 p.m. we had an image through from ukraine from the same minister and those star link ground terminals have arrived should you see t

. >> let's go to michael mckee at bloomberg tv. >> since september of 2020 you have been operating on a framework let the economy run hot to bring the economy kown and how would you describe the reaction now. in other words? we are going to keep raising rates until it comes down to an acceptable level? mr. powell: i want to clear one thing up. nothing in our new framework or the changes we have made has caused us to wait longer to raise interest rates. what we said -- and this was a reflection of what happened in the preceding couple of decades. if we see low unemployment, high unemployment but don't see inflation, we are not going to raise rates until we see inflation. there was no sense if we got a burst of really high inflation we would wait to raise rates. quite the contrary. the framework is raising expectations at 2%. and really, we can't blame the framework. it was a sudden burst of inflation and reaction to it and it was what it was and not caused or related or caused or by related to the framework. so, come to today, i think our vision on this on the committee is very, very c

let's get more on this story and bring in michael, a leading bloomberg financial coverage.n't know exactly who's doing the selling, can we get a shorter list of who has a large enough steak to sell off something of this size? >> you mentioned the three biggest according to the most recent filing, qi a among them. obviously blackrock and vanguard have major index exposures. i think there's a couple others in the ballpark of having a big enough steak for the size, capital group are ones that are out there among the bigger holders of the stock but certainly this is big coming off the back of bad news yesterday has pushed the stock down lower. >> blackrock 6.74, qi a 5.06. dodging costs as you say and then capital group 2.69. what could be the motivation for one of those names. >> barclays has held up better than some of the other banks during all of this. not that big russia exposure. could be a relative value play here and also barclays has new leadership in place. they have been very reliant on the boom in investment banking and trading, that perhaps is in peril with the rus

bloomberg crypto. every week. we are going to kick it off with michael novogratz. s bloomberg. ♪ >> welcome to the bloomberg audience. i am mark crumpton with first word news. ukraine is open to discussing demands of neutrality as long as it is given a security guarantee so it will not surrender. not a single inch of territory. a top foreign policy aide to volodymyr zelensky spoke to bloomberg's maria today. quick she asked me if there with a diplomatic solution, and we are ready for a diplomatic solution. there were three rounds of negotiations already. tomorrow, our minister of foreign affairs will meet with the minister of foreign affairs of turkey. we are ready to have direct negotiations with president putin. >> he said that preconditions for talks with russian president vladimir putin would be a cease fire and a withdrawal of russian troops. the foreign secretary said that though world's leading economies should help go further and faster in punishing moscow and president putin for invading ukraine. she spoke alongside the u.s. secretary of state antony blinke

. >> thank you let's go to michael mckey at bloomberg p.b. >> mr. chairman, since september of 2020, you've been operating on a monetary policy framework that let the economy run hot to bring unemployment down. that seems to be over, but wondering how you would describe your reaction function now what is it the fed is trying to do other than bring inflation down in other words, is it, we're going to keep raising rates until it comes down to an acceptable level >> so i want to clear one thing up again, that is that nothing in our new framework or in the changes we made has caused us to wait longer to raise interest rates. what we said in the framework changes was, and this was really a reflection what had happened for the preceding couple of decades, actually. what we said was, if we see low unemployment, high employment but don't see inflation, then we're got not going to raise rates until we actually see inflation. what we said the sense of it. there was no sense in which if we got a burst of really high inflation we would wait to raise rates. that

michael o'leary, ceo, ryanair. that is that for us at "daybreak: europe." bloombergts: europe is up next, anna and mark will walk you through that. this is bloomberg. ♪ so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours. anna: good morning a welcome to "bloomberg markets: europe." i'm anna edwards in london. mark edwards joins us from singapore to take us through the market action. the cash trade is less than one hour away. turning on the taps, crew tumbles as the white house weighs a massive release of reserves to battle rising energy prices. russia offers oil to india at a steep discount.

let's go to michael mckee at bloomberg tv. >> mr. chairman, since september of 2020 you've been operating on a monetary policy framework that let the economy run hot to bring unemployment down. that seems to be over, but i'm wondering how you would describe your reaction function now. what is it that the fed is trying to do other than bring inflation down? in other words is it, we're going to keep raising rates until it comes down to an acceptable level? >> yeah, so i want to clear one thing up. again, that is that nothing in our new framework or in the changes that we made has caused us to wait longer to raise interest rates. what we said in the framework changes was, and this was really a reflection of what had happened for the proceeding couple of decades, actually, what we said was if we see low unemployment, high employment but we don't see inflation, then we're not going to raise rates until we actually see inflation. that's what we said and that was the sense of it. there was no sense in which if we got a burst of really high

haidi: james bullard speaking exclusively with bloomberg's michael mckee.nnie quinn with the first word headlines. vonnie: the u.s. and its european allies are expected to announce new measures against russia during president biden's visit to brussels. jake sullivan says that along with fresh sanctions, they will ensure efforts to crack down on invasions. biden will attend an emergency nato summit in the session of the european council. russian opposition figures calling on people to oppose lot in your prudent after he was sentenced to nine years after -- for alleged fraud. he said the best form of support for political prisoners is action against war criminals. his nine year jail sentence will be added to the years he's currently serving. the myanmar government declared to commit genocide. it's foreign ministry has denied engaging in any genocidal actions, citing the remarks are politically motivated. myanmar's military killed more than 9000 people enforce more than 800,000 others to flee to neighboring bangladesh. mckenzie scott has donated 430 $6 million

we will talk to the ceo of grayscale, michael sonnens hein, joining us next. this is bloombergl: this is "bloomberg markets." i'm angel feliciano. coming up, libby cantrill, on "balance of power." this is bloomberg. ♪ keeping you up-to-date with the news from around the world, here is the first word. i'm angel feliciano. the city of shanghai will be locked down in two phases to conduct a mass testing blitz for coronavirus. the outbreak is challenging china's zero-tolerance approach like never before. residents will be barred from leaving their home. public transport and car hailing services will be suspended. there have been a number of requests recently -- the u.s. is reassessing the political cost of reviving the 2015 pact. the agreement limited iran's nuclear activities in exchange for sections relief, including on oil exports. a stunning moment at the oscars. actor will smith slapped presenter chris rock and was later awarded the oscar for best actor. rock jokes that smith's wife could be in the next "g.i. jane" movie, a reference to her short hair. she has alopecia, a dise

michael mckee. the academy would ask him to leave. he is going to stay. [laughter] lisa: the bloomberg academy. we are waiting for the data. jonathan: still waiting for economic data to drop. please drop. michael mckee, good morning. michael: the internet is slow today. we are waiting. jonathan: there we go. michael: jobless claims back cover 200,000 to 202,000. last week it came initially at 187,000. that is not a surprise. a lot of people thought jobless claims were overdone last week. 187,000 was revised up to 188,000. we are still extremely low. the pce numbers, the deflator on a month over month basis up .6%. that is the same as last month. it pushes the year over year deflator, the pce index to 6.4% from 6.1%, with estimates. it shows the inflation problem continues for jay powell. americans made more money. the personal it comes for up .5% after no change last month and spending up .2% after a 2.1% aid the month before. it looks like we've made a little bit more money that we held onto it. that will be the question is how fast does the economy slow down in the face of higher interest rat

michael: good morning to you, jon, and good morning to you, jim bullard. thank you for joining us on bloombergadio and tv. james: thanks for coming out to our new museum here. michael: this is the money museum. it is fascinating. if you are in st. louis, you should come visit it. you're sitting next to the sign that talks about hyperinflation, so it is sort of a perfect spot for us this morning. a week ago you were the lonely dissenter looking for a 50 basis point rate increase. now the chair has all but promised a 50 basis point increase, at least that is the way the markets are taking it, at the may meeting. what happened last week? james: i think those that are interested can read my dissent statement which was out last friday and is on our webpage. i think the fed needs to move aggressively to keep inflation under control. our policy as we sit here today is still a very large balance sheet and very low policy rate. we need to get to neutral at least so that we are not putting upward pressure on inflation ring this period when we have much higher inflation then we are used to in the u.s. ec

we adjust now on this monday with michael darda, micro strategist at mkm partners. i have got to go to the symbolism of the bloombergal return index breaching a long term moving average. is the great moderation over? is the great deflation from voelker done? michael: we will have to see about that. this is shaping up as a different economic cycle from anything we have seen in the recent past. looking at nominal gdp and inflation tells you all you need to know on that score. the last cycle was characterized by 4% nominal gdp growth, inflation below two. this one looks different. more than 15.5% nominal lysed gdp growth, last year was 12%. this year, most of which will be inflation. we have to go back decades. tom: i channeled the inner michael darda years ago. i did the nominal gdp study of japan. their flatness goes back to 1994. do you look at japan as discrete and separate? do you have to fold the japan reality into your u.s. analysis? michael: i think japan is a case study on repeated policy failures. they did have a period of moderate reflation after 2013. they have had the worst nominal gdp performance if you l

we are joined by bloomberg international economics and policy correspondent michael mckee, as well asbc capital markets equity derivatives strategist. we've already gotten chairman powell's opening statement. he talked about a strong labor market, that he sees liftoff this month. does he sound hawkish to you? michael: it is all relative, i guess. he sounds relatively hawkish for where he has been, compared to some other numbers of the committee, but he is still to the dovish side. he comes out and says with inflation well above the 2% target and a strong labor market, we expect it will be appropriate to raise the target rate and the federal funds rate at our meeting next month, but he does not say by how much he would raise it. jim bullard, who is a voting number of the committee, said just a short time ago in a speech he is making that the fed still needs to go 50 basis points. so they are clearly not united at this point. there will be a lot to talk about at the may 15, 16 meeting. guy: a lot of uncertainty to factor into their thinking. let's talk about the uncertainty . chair powe

michael, great to have you with us. president of permanent portfolio family of funds. more to come on daybreak australia. this is bloomberg♪ >> now for a quick check of the latest business flash headlines. struggling to meet production forecast because of a shortage of semiconductors. the disruption is expected to last until the second quarter and the carmaker expects marginal growth in deliveries this year after previously seeing sales. the market cap is back above the $1 trillion mark after shares rose for a sixth straight session and the company opened its plant outside berlin. they will make electric suvs with an eye on the expanding ev market. >> this is a great day for the factories and i would just like to thank everyone who helped. it really made a very big difference. and to the community. tesla will make sure that this is a gem, you know, a gemstone for the area, for europe, germany, and the world. >> still ahead, a top china etf investor gives us a wider sector outlook after beijing promised ease act downs. -- crackdowns. >> taking a look at the day ahead for australia and new zealand now, new zealand is removi

michael vogelzang from cap trust. more to come on daybreak: australia. this is bloomberg.s is bloomberg. ♪ haidi: here is a quick check ot the latest business flash headlines, nestle shutting down business in russia, following the attack on ukraine. it says no new customers will be able to sign up but it is unclear what will happen with existing accounts. the streaming service -- netflix has been healing through the national media group. the new fake news of law in russia, it announced the service will be halted until it reviews and the new rules, in that messaging, it will remain unaffected. samsung is spending our product shipments to russia -- sus pending all product shipments to russia. taking a look at the day ahead for us really up, agl energies has rejected are renewed joint bid -- a renewed joint bid. and other likely will not likely becoming. new zealand is working up to reality that its efforts to keep covid out are failing. case numbers surge with covid spread a widening, expect more details and a plan >> these sanca declaration of war, thank you it has -- thank

michael spence. the nobel laureate joins us next. ♪ ritika: i'm ritika gupta with bloomberg first word news. u.s.ls are worried that vladimir putin may lash out. his tendency when boxed in is to escalate. russian troops have found themselves bogged down in ukraine and sanctions have begun to bite. speculation is that putin may respond with chemical or nuclear battle weapons. they say beijing may be ready to supply semiconductors and other tech hardware to moscow. china's influence on russia were central to the talks thursday in brussels. canada will help nations shift away from russian energy by increasing oil and gas exports. they say energy producers can boost shipments by the equivalent of 300,000 barrels a day. he says the u.s. and canada already has the capacity to handle those extra volumes. three groups of mainly american investors have made it to the final round of bidding for chelsea football club. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. this is bloomberg

cpi number, the bloomberg survey number 7.8% year on year. that is february data. joining us is michaelear on year. is a risk to that number to the upside or the downside? michael: probably to the downside. the thing to keep in mind is february data. except for the last few days in february it does not encompass what happened -- it encompasses what happened during that month, does not encompass the war. it will be interesting to see the ecb forecast for what the war will mean, particular for energy. we just got the new bloomberg survey of economists for march, where they think inflation is going, they have marked up every category by about 1%. they are looking at cpi for the year to be at 6.1%. it was at 5% last month. guy: we got a job number a couple of hours ago, job openings out of the united states. another strong number. the prior number was revised up even more. the labor market story in the united states continues to look strong. this is a labor market that looks like it is at full employment. given the data we have with jobs and cpi, is 25 really the base case going into the ne

bloomberg, 3.6 percent for u.s. gdp in 2022. are you anywhere close to that? tony: michael: we would be around -- tony: we would be around 3.5% to 4%. to the extent that it stays with us well into the summer, clearly we have to mark down growth expectations closer to 3%. when you start getting closer to that, you start getting closer to that risk of stagflation, risk of central bank policy error, and then you start to pull forward recession risks into early 2023. that is not our base case, but that is showing what companies are starting to do. tom: building on -- lisa: building on the growth scare that people expect if this does continue, how much of that is being priced into riskier credit when you see spreads widening to the most going back to december 2020, but still not anywhere close to some of the peaks we have seen in recent years? tony: you make a good point, we have certainly repriced. we see a stronger repricing in emerging markets than we have in high-yield, and we are seeing less in investment grade markets, but we are not pricing and -- but we are not pricing i

with us now to walk us through what is happening, bloomberg international economics and policy correspondent mike mckee. michaelwould immediately .2 rates rising and say that is the reason, but rumor, the fed is only raise rates now for a little over 24 hours. but the markets front run the fed, and you can see what has happened. we had a 7.2% decline in existing home sales in the month of february, 7% for single family homes, which is the one most people follow. prices continue to rise, up 2%. that just adds to the overall inflationary pressure. people say that is going to continue for a while. one of the reasons for that is that there is not enough supply. 1.7 months, there's not enough homes for people to buy. but this was the winter season. we'll get into the spring selling season and cf more people put their homes on the market. they will find a little bit less support from the fed. the yellow line is the mortgage bond buying that the fed was doing. you can see how in the crisis, the redline is when cut would -- when covid started, the fannie mae acceptance rate, now they are going the other direction. the

michael mckee, thank you. payrolls tomorrow. the estimate as it stands, 415,000 your median estimate in the survey at bloomberg.a quick brief from nila richardson. i say automatic data processing because i'm a fossil. we have u.s. economic data. does it signal a boy it economy or are we truly in some form of slow down? nela: we are going to slow down from last year. we are a healthy economy. i think we continue to grow robustly, but we are not economy that has the absence of a high degree of federal spending and monetary easing that will fade away. healthy economy and those jobless claims are another good sign. how far we have, and the labor market but we have seen slowing growth in the real issue is inflation. lisa: inflation only getting hotter as we see commodities surging by one measure back to the 1970's. how much you expect wages to respond to the upside versus people coming back into the labor market in order to get paychecks in response to this inflation? nela: we saw inflation accelerated in the fourth quarter. the interesting thing is in terms of inflation rising for wages, what is interesting is thro

next week, bloomberg crypto will be kicking off every tuesday at 1:00 p.m. in new york. our first episode will feature michaelxy digital. i think it is a perfect moment to be launching this show because crypto is really involved in this macro picture we have been talking about peter there is the question of the correlation with risk assets, if there could be a hedge against inflation and geopolitics. it is at play in the entire sanctions conversation. we were hearing from the biden administration that they will be issuing sanctions through virtual fx so it is a really interesting time for cryptocurrencies and matt miller and myself are excited to dig into it every week. guy: you can have fun with that. there is a great story about matt miller. he did a package on bitcoin back in the day when it was first starting to come onto the scene and i think he had a hard drive with three or four bitcoin on it. i cannot remember whether he threw it into the trash or cut never remember the password. but somewhere matt miller has three or four bitcoin locked up. i think he harbors a little bit of angst as a result of that

was with us yesterday on "bloomberg surveillance" and john miller was adamant it is a two part housing market. is that how you look at it as that haves are buying property? michael: it depends on where you are. the distinction between haves and haves not will be much different between the midwest and california. the biggest thing that has influenced this is the companies that are buying up and blackstone being one of them, buying up houses to rent, has created a shortage in available housing that helps push up prices as well. an interesting thing, the mortgage bankers association's weekly mortgage index, the number of people applying for a new home mortgages goes down but the number that really caught everyone's eye, refi is off by almost 15% as rates go up. that means less money going into the economy that people are going to spend. that may be a sign that things will cool off a little bit as well. lisa: that connecting feature between the labor report, the clues that we got out of the adp report, as well as what we are seeing from the housing market is when do we see some of the increase in inflation actually slowing the trends? when does inflation cure inflat

on-air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. kathleen: mary daly says that a rate hike may be needed in may. she spoke with michaelraditional way that we have done it over the past couple of decades is you raise to interest rate and rest the meeting. it is the gradual approach power the men to see what is going on and then make adjustments. the sep meeting was seven increases in 2022. that suggests quite a bit of frontloading on policy. i remind people that we are going to make balance sheet adjustments as early as in the main meeting. that has not been decided completely but that is another equivalent to at least another rate hike. and then, this is something we often do not talk about, we are making these adjustments at the same time other central banks are making similar types of adjustments, tightening policy, we could get a lot of tightening and financial conditions globally. that is something we have to think about. i think relative to previous periods of tightening, this is quite a bit of frontloading as the sep has indicated -- scp has indicated. >> are you willing to support that? >> i think the data will

bloomberg. ♪ ♪ jonathan: seconds away from economic data in america. futures on the nasdaq up .5%. yields higher eight basis points. with the economic data, let's get to michael. michael: good morning. the numbers people be interested in today are the durable goods orders. way down, down 2.2%. the expectation was for a chop of just .6%. ex transportation down .6%. these numbers are always volatile. does this mean a slow down trend? capital goods orders, the one we talk about that economists follow because it goes into gdp, that is a proxy for business spending. that is much less than the .5% gain that wasn't dissipated. capital -- that was anticipated. capital goods shipments up. in the month of february we were still growing. jobless claims. here is the number we have not seen in a long time. 187,000. we are below 200,000 mark for the month. i would guess there something a little odd about that. because we have stephen stanley coming up we will have a better view of that. that is such a huge fall from a decrease of 28,000. it is the lowest level since 1969. that is an amazing number. jonathan: is not population adjusted. michael: you adjust that for populati

michael: julio, thank you. great intelligence there. coming up from ishares of sofi are higher as the company reports record results in the third quarter. we will talk with the sofi ceo next. this is bloombergtesting, testing. no awful >> this is bloomberg markets. i'm matt miller. it's time for our stock of the hour. it is sofi. not a bad day to impress the market with record results. the latest result is topping estimates from analysts and the stock soaring at one point more than 16%. from san francisco, sofi ceo anthony noto and bloomberg technology enter emily chang. -- anchor emily chang. emily: a strong quarter, a strong outlook. but there is a lot of uncertainty lingering given what is happening in the ukraine and russia. open to bigger hikes in the future. how was this impacting your concern about the global economy and what this means for sofi's business? anthony:fi has a history of living through tremendous cyclicality and volatility. we started 2021 was a different backdrop when we reported goals for the year. we just reported a third consecutive record revenue growth up more than 15%. this is testament to our one-stop shop strategy and our ability to meet member needs across are

michael gove said he expects tens of thousands to be admitted. apple plans to roll out seven all the -- ford plans to roll out seven all electric vehicles in europe. i'm ritika gupta. this is bloombergimate that 7.9%, we will probably get very close or above 10% before we come down, and that difference will be all because of the disruption that putin's war implies for commodity prices, supply chains, and shipments. jonathan: what a call, 7.9% now, and perhaps above 10% before year end. mohamed el-erian speaking to cbs over the weekend. good morning. futures fade, up now just 0.25%. we are down on the nest at 100 0.3%. moments ago from the kremlin on the nasdaq 100 0.3%. -- on the nasdaq 100 0.3%. much ago from the kremlin, they will realize all of their goals and ukraine. over the weekend we heard from the deputy chief of staff to the president of ukraine -- the chief of staff, not the deputy chief of staff. there is a dialogue, and that was seemingly enough to lift things out of the gate this morning. tom: the range is wider. jonathan: i would agree. tom: when the range is wider comedy trading and investment speculation can ever be wider. but with ranges wider, everything changes m

bloomberg. keeping up-to-date with news from around the world, this is the first word. i'm ritika gupta. the new system includes payments to households accepting refugees . cabinet member michael bbc he expects tens of thousands of ukrainians will eventually be admitted. north korea may test an icbm as soon as this week. a report says south korea and the u.s. have detected signs of an eminent test of an intercontinental ballistic missile. north korea has not test launched an icbm sense 2017. tom brady changed his mind and is not retiring after all. brady says he will return for a 23rd season in the national football league. 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. i'm ritika gupta. this is bloomberg. guy: thank you very much, indeed. the number of container ships waiting off of china's one of -- off of one of china's biggest ports is grinding higher. the lockdown in shenzhen adds more strain to the global supply chain. shenzhen is the fourth largest port in the world, to give your little bit of context. this is a massive blow to the freight market. joining us to discuss this is