the early indications of how reopening affects target and walmart and home depot joining us is paul deutsche. welcome. you heard what steve had to say i assume does a dollar spent on services necessarily mean one less dollar spent on traditional retail? whether online or in person. >> in essence it is a shift away from spending on goods but ultimately we think a lot of that spin goes hand in hand. right? as you return back to work or as you're going do an event or traveling, there's a big focus on replenishing that closet and ultimately we think opportunity for the retail stocks to still outperform certainly near to medium term and expect to see robust results this week. >> so as people start going back to offices, they're going to spend on both, on experiences going out for drinks or dinner, more on travel, but they will also spend and move away from drawstring pants and hoodies and going to have to put on regular clothes again and in many cases they may find, may just find that the old clothes don't fit anymore. is that part of the argument >> we found a lot of that in our survey where the

paul allen in sydney. here's a check of the latest business flash headlines. the federal reserve is said to have warned deutschek about compliance failures. it came in an annual assessment which signaled the bank is adhering to confidential agreements aimed at fixing its risk-management management practices. we are told deutsche bank's top executives are bracing for potential sanctions. the nikkei news says japan is considering changing rules next year. discussions between regulators and governments is set to begin in the coming months. generation next, we will hear exclusively about the internet's value and paving a path in taiwan's tech industry. plenty ahead. this is bloomberg. ♪ vonnie: you are watching daybreak australia. covid infections in india have fallen to their lowest level in more than six weeks. the latest government data shows nearly 174,000 new cases taking the nationwide total to 27.7 million. reports of death remains below 4000. residents in wong joe have been ordered to stay home to detain a coronavirus outbreak. cctv reports it stems from india. five confirmed cases and 21 a symptomatically

paul ryan and liz cheney and insurrectionists. >> adrienne elrod and eugene robinson with us. and joining us, we have the host and executive producer of showtime's "the circus," from "the recount," john heilemann. and donny deutschy deutsch." it's going well, donny. i appreciate it. >> thank you. >> john heilemann's my hero and i think he has a podcast, so i'm just following in his footsteps. >> standing on his shoulders. okay, donny. >> well done. well done. >>> a new poll shows nearly three-fourths of republicans are ready to close the books on the january 6th insurrection. like it just never happened. a new quinnipiac poll shows 74% of republicans say it's time to move on. that's compared to 84% of democrats and 54% of independents who said the events of that day should never be forgotten. that's 74% number is likely what was behind a marathon session in the senate overnight, way into the night, as republicans stall ed a crucial vote on the january 6th commission. republicans were on the senate floor debating an unrelated bill to delay the vote. now the vote isn't expected until possibly later today. 60 votes are needed for the independent january 6th commission to move forward. so far, only three republicans