andrew pekosz, from johns hopkins public school of health, joins us now.g to see 3 million? are we going to see in a few weeks pretty much everybody getting this virus? andrew: it's important to note that the total case count, the official case counts are staggering and they are probably underestimates of how many cases of covid-19 are going on in the country now. it's been very difficult to really predict on a weekly basis how cases are going to go. there's some data out of south africa showing that the surges have fallen off as fast as they've increased. hopefully that's going to happen in other places as well but it's really staggering the number of cases that we have. important to note also that hospitalization rates are going up because a total number of cases we are seeing. matt: we've heard this as well from u.k. officials, but the estimates, the numbers we are talking about are likely underestimates. by a factor of two or three. it wouldn't surprise you, when i say we had 2 million cases globally in one day, it wouldn't surprise you if the real num

pekosz: we need to wait one more week. lisa: darn. dr.z: travelers are the primary people that have been picked up with omicron, they have a tendency to be the more highly vaccinated population. some of the data we are seeing from the u.s. and europe is really skewed to vaccinated populations. in the next week, and south africa will be the lead on this, we are starting to hear how various populations are doing with respect to infectious disease and that will be the critical thing. jonathan: always great to catch up with you. next week is going to be a very interesting week. to get the data around the variant and look ahead to inflation in america. december 10, the meeting estimate so far, x .7% year on year. -- 6.7% year on year. and, 4.9. tom: this is china like nominal gb -- gdp. i have never experienced this. we address this yesterday and take away all the worries that we have, it is a boom economy. you have eight or 9% nominal gdp, by definition that is a boom economy for a selected group. jonathan: think of where nominal gdp is, and

i thought andrew pekosz was brilliant on this. it is a different pastor 8:30 -- a different path to 8:30. lisa: especially because it seems as though the jobs market has been i don't want to say deemphasized, but has lost some of its luster on tightening conditions. we have seen them emphasize inflation. you say omicron dependent, and yet inflation is not going to necessarily subside. if anything, it could potential he get worse and disrupt supply chains even more. how does the fed parts this out if they see a real problem with inflation? jonathan: these statements this week from federal reserve officials didn't sound too conditional about that meeting on the 15th, did they? they were pretty straightforward. tom: there were a lot of people saying let's go. i know we've got priya misra in this hour, and she is saying they are not going to go. jonathan: let's sum up the price action for you this moaning. equity futures pretty much dead flat, down to on the s&p, negative zero point 03%. yields have been at the front end, down at the

andy pekosz was telling us this is the unofficial two-year anniversary of the beginning of covid.his is when the world was first made aware on the internet on the first case out of wuhan. so it feels like it has been more like 15 or 16 years, but i guess it has only been 24 months since the first case we were aware of. let's talk about what we've got coming up on this program. i sent michael purves is waiting in the wings somewhere. equity research analysts at raymond james, denton about of oliver wyman. even if the markets aren't moving that much, we still have a lot to talk to you about, and we are glad if you have joined us here on bloomberg television in bloomberg radio. the markets. didn't we just go through this? the s&p futures are down 13 points. you're right now unchanged at 1.13 sub -- at 1.131 six. the only interesting move i can see, because the s&p futures, volume is still light, but nymex crude down 1.5%. it is not a huge drop, but i have been looking at nymex and brent this month and thinking, even if you have concerns about inflation, even if you are worried about

tom: andrew bakaj would -- andrew pekosz would say yes. this is an america on the go. this is an america doing better. we will see that in the report today. 500,000 jobs created? come on, it is a boom economy, but there's omicron to get in the way. jonathan: the belief that the federal reserve is ready to go to speed up that paper. maybe we start to have a conversation about higher interest rates through the yield curve. we got a flatter curve this week. tom: we've got to go to the data check right now. let's do this with one statistic, the vanilla spread. the difference in yield between the 10-year and the two-year, 79.4 43. that is a telling statistic. jonathan: that is how we ended the year last year. just a total round-trip on the yield curve, the spread between twos and tens. we were talking about hopes, dreams, and memes. the hopes and dreams of q1 2021, they are gone. tom: on jobs day, it is a stew of opinion, but mostly it is a stew between a political america and i financial boom economy. lisa: and a federal reserve perhaps responding to the political reality

pekosz, always such a valuable and important insights thank you have a great holiday or just to noticeol of public health is supported by michael bloomberg, the founder of bloomberg lp. ok, let's get the first word news. angel: the u.s. says moscow needs to de-escalate tensions on the u.k. board. it comes as kiev says russian troops are continuing to build up. the comments follow president vladimir putin's annual press conference that warned that western nations about military cooperation with russia's neighbors in use in eastern europe. morgan stanley said the staff they had to be in the house -- in the office during the first two weeks of january have to wear masks when not at their desk. it applies to all locations, even those where everyone is fully vaccinated. it comes as other banks are revising the return to office plans. tom, i know you are into the story but it is one of the biggest u.k. retail deals in years. it sold a department store to a high austrian venture group. it is -- a chinese family is joining forces with an austrian group. it is close to 4 billion pounds. global