you started out in the mailroom at pimco. you get the ball moving on the pimco tennis court starting out in the mailroom? bill: we had a billion-dollar portfolio. it was not pimco at the time. i just graduated from ucla. i was clipping coupons. not exactly in the mailroom but clipping coupons. i said to myself wanted it beat debtor to get out of the vault and get into the sunshine -- wouldn't it be better to get out of the vault and into the sunshine. at that time he do not have computers. i thought if i could take 5 million of that one billion-dollar portfolio and traded at perform and we could get some clients and grow a little investment company called pimco. lisa: a little investment company that grew quite large. you talk about your start with education, with $200 into your pants in las vegas. getting $10,000 to pay for your college education. parlay that gambling to the markets and how the game has changed. how much has the game changed over your tenure? bill: it has changed a lot. when i started there were not liquid m

pimco has massive exposure to the sovereign debt but also to the cbx.y would have to pay creditors. matt: if they pay that in rubles, is that a default? sonali: who bears the losses at the end of the day? pimco is a $2.2 trillion asset manager. in total, this is a drop in the bucket, but a large amount. when you look at who holds russian sovereign debt and the many corporates, it's crazy how much spreads have blown out. you think about pimco and all of the emerging bond funds that have an even greater percentage of exposure. the reason pimco is so interesting, we are talking about the dan iversen income fund. emerging markets is one part of the fund that has everything from investment grade two treasuries to high-yield. the everyday person has more exposure. matt: that is an inside joke between me and sonali. in terms of a default, fitch downgraded. i saw that the sovereign bonds are showing that concern, but corporate, not so much. sonali: you have gazprom and rosneft who said that they would pay back. stealing so much from damian sassower on this toda

pimco, a global leader in active fixed income.let's turn attention back to the chinese technology sector selloff. mainland and hong kong with sharp losses as investors continue to shun the space case in point, kraneshares, kwte is coming off the worst single day session ever it wiped out all of the gains, including dividend payments since it started trading nine years ago. that's one trade a lot of investors are watching >>> look at some of the big losses that we are talking about. these are huge alibaba, tencent, jd.com alibaba down 67% jd.com half the value. electric vehicle maker nio is down 31% these are brand names in china and taking deep hits joining me now is the managing partner ben harburg cyrus, let's start with you. we heard the term uninvestable applied to the chinese internet names. do you believe that is the appropriate way to characterize the chinese tech stocks right now? >> thank you, dom. i think for the short-term, that is an appropriate term china's market is difficult to invest now the two big short-term fact

grabbing our attention today and our leslie picker confirming a story first reported by the ft and pimco facing big losses through its exposure through sovereign debt and credit default swaps and our leslie picker is following the money for us i know you're busy and i appreciate you making time for us we're talking about two fronts here potentially losing money to the tune of $2.5 million what do we know? >> there are a lot of moving pieces here and we'll have more answers over the course of the week, but what we do know right now is how pimco is positioned relative to russia so they have a dual-edged word right now as it pertains to russia in the sense that they have a $1.10 wager tied to the government bonds of russia and they also have written contracts relative to the cds of russia meaning they being pay out the counterparties if russia were to default to the tune of a billion dollars, perhaps nor than a billion dollars on that front. the key question is we don't know what next week brings and that is when a debt payment is due. the first one amid this whole conflict of sanctions and

pimco, a global leader in active fixed income. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, matching your job description. so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. >

>> we mentioned yesterday, leslie, your confirmation of that story about the potential losses that pimcoat, right, like $2.5 billion sthaefts that are greater than $2 trillion under management, so we're not talking about a catastrophic situation, but do we know of anymore pimcos that may be out there >> it's a good question. pimco, as you mentioned, that exposure was pretty minimal, relative to the overall size of their portfolio and their aum. of course, a massive firm overseeing more than $2 trillion we take a look at some of the other pimco-like funds, especially in emerging markets there was an sfwraesks from morning star that only 8% of american funds, had some kind of russian exposure there are a lot of these out there. in absolute terms, we don't have a dollar figure quite yet, because things are fast moving, but certainly, there are significant markdowns of any fund that's been exposed to russia >> i think, thus far, i think that we have a fairly decent idea that though a large number have some exposure, the exposure they have is small, relatively speaking, right? >> correct >> w

of 2020 pimco was on board in the portfolio. we started with a deep dive in pimco given the latest addition to our portfolio and got off on all existing strategies and we looked at other promising strategies. resourced ideas for other strategies from a list and in talking to other consultants and other allocations and in 2021 we conducted about 100 meetings. we created the short list with about 18 strategies and asking for more information from those 18 strategies and towards the end of 2021 we narrowed our openings and started digging deeper on fidelity tactical bonds. diligence was done virtually with the exception of an onsite visit by by vicky in 2019. we do expect additional recommendations to come out of this search. however, at the firm was founded in 1976 and the ceo of the firm and the johnson family effectively controls it. outside of fixed income fidelity have a competitive advantage. their equity team collaborates with their credit team to perform holistic views of the condition and benefit from the broader infrastru

jerome schneider, pimco portfolio management had.his is bloomberg. ♪ >> it is time for the bloomberg business flash. a look at some of the biggest stories in the news right now. second quarter profit was better-than-expected. the product goes to heightened demand for covered vaccines and over-the-counter medicines. walgreens maintained its forecast for the year. toyota will likely be the number one automaker in the u.s. for the second quarter in a row. it will become clear tomorrow when most major automakers report first quarter sales numbers. toyota offers 18 hybrid models. apple is exploring a memory chip that goes into iphones. bloomberg has learned it potentially includes its first chinese supplier. a production disruption exposed the risk to its global supply. that is your bloomberg business flash. kailey: thank you. that is one reason apple is in the news today, diversifying its supply chain. the other reason it has been in the news to last 24 hours, it and meta are subject to a hack, potentially by minors in the u.s. and u.k.

not everyone is convinced that powell is on top of it in fact, during our conversation, pimco founderntral bankers around the world are playing scrcatch up >> they have to be careful that's a problem because they made a mistake and powell is unwilling as should any chairman be unwilling to admit a mistake. they stayed down too long. they have been buying bonds too long as other central banks. it wasn't required in my opinion all the way to this point. >> now that was a tiny portion of our interview with bill gross. we have 14 months where we he talked about the fed, inflation, his book, and what stocks he is buying catch the interview right now on cnbc.com/pro our thanks to bill >>> despite nearly complete worldwide opposition, vladimir putin continues his assault on ukraine. his war and it is his war. now entering the eight day russian forces laying siege on two sea ports, including the city of mariupol which is surrounded by russian troops all this with the bombardment of the second largest city kharkiv. matt bradley is joining us now good morning, matt what has happened overnight?

pimco released billions of dollars if russia defaults.ast five pimco -- in south korea, the election of the president could mean some big policy shifts. it led to greater private sector led growth. the top prosecutor faces a national assembly and the super majority has little appetite to help the domestic agenda. global news 24 hours a day, on the air, on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. >> we have been very focused on the first order impacts. we have those very well under control. very modest exposure, about 600 million. from a market risk perspective, we were positioned and advantaged quite well through these early days. the second and third quarters of impacts are harder to judge, you say. i feel comfortable we have the second order effects contained and we are doing work with our first line and risk organizations to understand together with clients what the long-term ramifications might be. the markets have been dislocated in a number of different ways. in the early part of the

pimco, a global leader in active fixed income. ♪♪ care.the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. inner voice (kombucha brewer): as a new small business owner, i find it useful to dramatically stare out of the window... ...so that no one knows i'm secretly terrified inside. inner voice (sneaker shop owner): i'm using hand gestures and pointing... ...so no one can tell i'm unsure about my business finances. inner voice (furniture maker): i'm constantly nodding... ...because i know everything about furniture... ...but with the business side... ...i'm feeling a little lost. quickbooks can help. an easy way to get paid, pay your staff and know where your business stands. new business? no problem. yeah. success starts with intuit quickbooks. >>> we had five 1% swings in yesterday's action alone, looks like today might be a little less volatile. vix remains above 31, and the te

pimco says it may not be the most reliable one. jeffrey gundlach says. i will leave this to the pros because there are lots of sides you can take. one thing i will point out is clear divergence is, dislocations, in this market, as we fear a recession. stocks are holding up, specifically if you look at the volatility markets, we have a chart for this. you are looking at a move index of bond volatility which continues to go even higher. the blue is the vix. the vix has been in decline. bank of america warns this is a bear market trap. that in the past when we have seen this level of dislocation which is near record, we have seen the s&p 500 fall 7% over the next seven weeks. the recommendation, sell the rally. futures dipping, so let's get your check on markets. we are looking at yields coming in by five basis points after yesterday's heavy selling that sent the yield curve into inversion. the s&p 500 futures are negative as well after we had the s&p gained more than 1% yesterday, nearly making up for all of its losses year to date. nearly the second day o

tom: let's bring these two stories together with libby cantrell at pimco.ntal europe investment, your relationship, etc., what have you learned with europe to pimco channels? libby: this is an incredibly dynamic situation. as of last week, what has happened over the last few days in terms of the solidarity between europe and the united states has been extraordinary. as investors and fiduciaries, another level of uncertainty. this could exacerbate inflation and supply chain woes and dampen growth particularly in europe. clearly an uncertain environment. there has been an incredible coordination between countries in the west, that we haven't seen since september 11. tom: greg valieva, says joe biden a wartime president. what do you expect to hear tonight from the wartime president? libby: he will have to thread the needle at the address. there are things he is going to want to brag about, the bipartisan infrastructure framework, nominating the first african-american female to the supreme court, some of the things congress and his administration has done in re

pimco, a global leader in active fixed income.f you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. >>> all right. we've seen the airline stocks roar the last couple

pimco, a global leader in active fixed income.vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. getting the incredible iphone 13 without t-mobile, vanguard. - three...two...one... - makes as much sense as playing hide-in-seek... ready or not, here i come. ...in the desert. [sighs] really guys? t-mobile has more 5g bars in more places than anyone. and now, when you switch, you can get iphone 13 on us, on every plan. you're not going to fit in that hole. don't look any further. unlock the full power, iphone 13 on us at t-mobile. the network with more 5g bars in more places. every big idea every game changer every "how'd they do that?" starts here, the blank page. artists and writers know the tyranny of it well but so do developers, data scientists, ctos. the new creators to them, we say let's create something that changes everything. ♪♪ ibm. let's create. >>> time for the weekly insid

pimco, a global leader in active fixed income. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see theme and you ♪ ♪ and i think to myself ♪ ♪ what a wonderful world ♪ a rich life is about more than just money. that's why at vanguard, you're more than just an investor, you're an owner so you can build a future for those you love. vanguard. become an owner. >>> welcome or welcome back. let's get more on the human side of the refugees in ukraine as more are seeking safety the united nations estimates more than 500,000 ukrainians fled polish officials claim 400,000 of them in that nation alone steve sedgwick is on the ground with the latest from poland. steve, good morning. what are you seeing from rzeszow? >> reporter: we are a mile north of where i'm standing from the 82nd airborne which is here to help the refugees. we are seeing with the border crossing on sunday it was just horrendous i have been with cnbc for two decades. it has the hardest reporting i've had to do watching the families women and children crossing over men folk are not allowed to cross over because of the martial law

pimco, a global leader in active fixed income.ic) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. - hiring is step one when it comes to our growth. we can't open a new shop or a new location without the right people in place. i couldn't keep up until i found ziprecruiter. ziprecruiter helps us get out there quickly and get us qualified candidates quickly. they sent us applicants that matched what i was looking for. i've hired for every role, entry-level technicians, service advisors, store managers. ziprecruiter helps me find all the right people, even the most difficult jobs to fill. - [announcer] ziprecruiter, rated the number one hiring site. try it for free at ziprecruiter.com >>> it has been a rough week for u.s. bank stocks, even rougher though for european danks. dom chu back with a closer look. >> if you look at the market thoefrb last week, we're in week two of the russian invasion of ukraine, the war happening over there right now. during that span, in the little over a w

for over 50 years, pimco has reinvented fixed income to create opportunities for investors in every market, no matter what happens you can build the bonds that mean the most to you. pimco, a global leader in active fixed income. >>> the red hot housing market cooling off a bit in february as home sales took a step back. combination of rising rates and low inventory making it harder for buyers to compete. the average rate is now above 4% for a 30-year fixed. there is another issue that not enough are talking about tim rood is former fannie mae executive and he is joining us now. tim, i was looking through the notes here wehomes. i did not realize inside every built home is $100,000 not in lumber, by paper work. >> that is just the building side regulatory costs on a new home is one-third of the cost of the new home sales price which is insane it is ridiculous you compound that, sully, that it costs almost $10,000 to produce a mortgage because of the government overlay red tape and things like that. it takes less labor to build an f-150 than assemble a mortgage all of this is bogging down an

pimco, a global leader in active fixed income. ♪ ♪ wow, we're crunching tons of polygons here!invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ ♪ at cdw, we get today your hybrid organization depends on different networks, different devices and different ways of working. so how do you manage to keep everything together? cdw can orchestrate a cisco sase solution or secure access service edge. converging security and frictionless connectivity in one cloud based approach. so your dispersed team feels closer to home. for a unified hybrid workforce, trust cisco and it orchestration by cdw. people who get it. cody! hi!! hi! how are you? i'm good! i'm crocheting. i see that. started off as a hobby. kind of snowballed from there. and alex, i don't want to stop. well, i don't see why you should have to. let's set you up with a side gig savings goal on the u.s. bank mobile app. this way, you can turn it into your main hustle before you know it. yo

pimco, a global leader in active fixed income. >>> welcome back to "fast money.p is hard to do ford surging today after announcing it will not spin off but simply separate operations for ev and gas powered cars and trucks let's here from phil with the details, phil >> melissa, this is ford believing it can be more profitable if it has teams working on specific types of vehicles opposed to what they're doing right now, which is building electric, internal combustion vehicles. they will have ford model e dedicated to working electric vehicles, jim naturally will run that ford blue is the legacy business, internal combustion vehicles and ford pro works on commercial vehicles a very profitable business. when it comes to ev they are doubling down on the commitment, they're going to invest $50 billion through 2026 previously $4 billion in 2025, they believe they'll be in the 2 million ev annual by 2026, huge increase from previous guidance through 2025, jim farley was emphatic this is about driving faster innovation. >> this is about new talent and capability and focus

pimco needs to pay out to other investors if russia defaults.on securities particularly in pimco income fund caused it to slip 5% this year under performing the benchmark where it was out performing the benchmark. i'm told that the firm had long-term exposure to russia and the strategy was not tactical in nature it represents the under management pimco managers have limited exposure to russian bonds. russia has $40 billion of dollar/euro debt. it is unclear what rights, if any, bond holders have to recover investments. guys >> leslie, do you know if russian bonds are included in emerging bond market indices the exposure, although small, would be broad on the notion that funds are indexed to that bond index >> reporter: absolutely. russia has been a participant in those indexes as well. the exposure, the active mutual funds focus on bonds and also index. they have been coming together wondering what it means for them as well. there is clearly exposure, but not to the level i think would provide any usystemic risk. there is a smaller piece of whet

pimco, a global leader in active fixed income. ♪ >>> welcome back, we've got an earnings alert on amck out the shares up by 0.7% off after-hours highs following the latest earnings report the conference call just kicked off at 5:00 p.m. eastern and julia is in on the actions julia? >> amc shares up slightly after the theater giant revenue beat estimates $1.17 billion ahead of the $1.1 billion analysts estimated as "spiderman" helped to drive performance in the fourth quarter amc with adjusted loss of 11 cents, unclear which is comparable to analyst estimates. cco adam aaron noted that 2021 was another year of continuous recovery as theaters reopen and number of release titles increased. the company hosted 60 million people in the fourth quarter and average revenue per pat ron was more than 25% higher in the fourth quarter before the pandemic began, aaron saying -- [ reading ] aron saying that while there's work to do they are on an upward trajectory expecting the first quarter to be above 2021 levels but will be relatively weak followed by stronger performance for all of 2022. one oth

pimco, a global leader in active fixed income. >>> welcome back the u.s.ctions against russian oligarchs. robert frank has a look at the entities the department of justice is focused on. robert >> justice warning crypto exchanges that they could be targets in this ever-expanding oligarch crackdown the new sanctions task force saying banks that fail to maintain money laundering policies in the cross hairs of this investigation european union going further banning the oligarchs and certain companies from trading cryptocurrency altogether. meanwhile, uk and u.s. also going after the financial investments of the oligarchs hire in the u.s., freezing the u.s. hedge fund assets made by roman abramovich investing billions through an unregistered foirm in new york called concord management including big names. abramovich was trying to sell the investments recent sources saying he has large holdings of u.s. stocks. unclear which institutions using to trade those and the oligarchs are on the run right now within the past hour private jet used by abramovich left israe

for over 50 years, pimco has reinvented fixed income to create opportunities for investors in every market environment. so, no matter what happens you can build the bonds that mean the most to you. pimco, a global leader in active fixed income. . >>> welcome back let's get a quick check where the markets closed, s&p up, nasdaq up nearly 2%. if you missed the stat from compound capital, s&p 500 up 1% in six of the past eight sessions, believe it or not that's only happened twice in 80 years, 1974, and 2020. meantime, time for the big reveal got to be the easiest mystery chart all time come on. it's apple on an eight-day win streak, shares up 15.5% during the run bonawyn, the company planning to launch iphone subscription service this is like a permanent rent of your iphone. is that a reason to own the stock or is something else happening with apple shares here >> i think that particular offering makes a lot of sense. reminds me of the company rent-a-center that was all the uproar about a decade ago. this company would make three to five times what the cost was within literally a 12-year per

pimco, a global leader in active fixed income.treet ambience] ♪ ["fly me to the moon"] ♪ ♪ ♪ imagine a community where millions share ideas and trade stocks, crypto and beyond. to the moon? in other words... etoro.the power of social investing. . >>> this is earnings week from the cloud-based software stocks. it's a favorite. but it does look like it's good news, they are jumping 5%. tonight we got another encouraging report, from giant salesforce.com the cloud was down from september highs. unlike so many players, salesforce is profiting. the business is in great shape, they are supporting a clean top and bottom line beat strong revenue projections i think the stock is roaring because how much roaring capital they have. could this be the beginning of a big run, if we ever get a good market again mark benefit off, the o-founde and chair of salesforce.com. mr. benefit off, welcome back to mad money. >> jim, it's great to be with you, hi from san francisco, california. >> it seems you are back in the headquarters >> we're back to bu

pimco, a global leader in active fixed income. ♪♪ energy is everywhere...which, when turned into fuel, can help power a plane. at chevron's el segundo refinery, we're looking to turn plant-based oil into renewable gasoline, jet and diesel fuels. our planet offers countless sources of energy. but it's only human to find the ones that could power a better future. - super excited to open up my diploma from southern new hampshire university. - i'm nervous, i'm excited. - [man] okay, let's see it. let's see it. - oh my gosh. - as soon as she saw this, i did it and it's here. - [man shouting] yeah! (upbeat music) - [narrator] next term starts soon. visit snhu.edu >>> i tell you this market has no patience for high growth stocks even though they pulled back substantially from november highs. even when they report solid numbers the stock can get hurt look at snowflake, it's down more than 20% in after-hours trading. the earnings results were fabulous wall street was disenchanted with the forecast. it slowed 7% other companies would kill for it's not what the mark w

pimco, a global leader in active fixed income. you're a one-man stitchwork master.n needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire testomorrow, options traders positioning themselves for yet another big move once the results cross the wire mike khouw with the actions. >> crowd strike trade the at 1.6 times average daily options volume this market is implying a move of $20 higher or lower by the end of the week, 12.5% of the current stock price and considerably more than the 8.3% or more it's averaged over the last 8 quarters, even more than the last 4 quarters is which is closer to 3% one of the trades we saw was the purchase of the weekly 167.5, 108 call spread, buyer paid $3.35 but not every trader was savvy. third most active options were weekly 50 puts largely the result of a fairly good size purchase of the 131 put spreads and paid $5 for those put spreads, options traders trading more than 25 tylenols anticipated one-year earn

pimco, a global leader in active fixed income. >>> all week we have been doing some crazy stuff here,ertrend rally after month of hideous action, and that's especially true for all of the beaten down tech stocks that have been able to bounce back. but regular viewers know i still feel some trepidation about this market while there were a ton of stocks that came down too far too fast, the overall backdrop of this rally is still suboptimal. there are still far fewer winners than i like to see, and they tend to be clustered in a couple of industries that we have learned to be more treacherous than we thought. that's why all beak we have been consulting technicians yes, people who look at charts, to get a better read on the situation, because their methods help take our emotions out of the equation now in the last week, wall street has gone from despair to euphoria, and you don't want either of those feelings to guide your decision making because that's how you make mistakes let's go to someone who has been around so long, larry williams, a legendary technician and market historian who ha

pimco, a global leader in active fixed income.re more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. never be afraid of your strength, because your body is capable of amazing things. own your strength, and see how far it takes you. tonal. be your strongest. >>> welcome back to "the exchange". 1 .4% fwan for the nasdaq. the dow has recovered from a 201-point loss to a gain of about 69 let's check on the sectors for the week consumer discretionary, tech, and financials the biggest outperformers. again, if you missed it, a great chat about technology up 7%. even beating the financials. energy having the worst week of the year down about 4 % wti holding above $100 a barrel. down 5% since monday you can see the names there. on the flip side, the semi conductors are set to end the week higher. is smh flirting with the best week in a year and a half. every component is lower for 2022 and drk with the best we

pimco, a global leader in active fixed income.headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! if you invest in the s&p 500 your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500, which reduces potential concentration risk and helps keep your portfolio in balance. stay in balance with invesco's rsp. >>> welcome back to "fast money." alibaba going bonkers, shares up 36% today. if you saw last-night's show you might have remembered one of our traders seen it coming, let's fire up the fast take money machine to hear from guy adami. >> i can smell the fast fire from here i think you will get 15 to 20% rally from alibaba from these levels. >> wow

pimco, a global leader in active fixed income. (vo) everyone knows to get wireless savings, you need to be on a family pla- ...oh... (jane) with visible, i get unlimited data for as low as $25 a month. no family needed. (vo) i guess i spoke too soon. visible. switch now and get 3 months of single-line wireless for $20 a month. bravo striking a deal to buy anaplan for $7 billion joining us is the manager partner who led the deal thanks for joining us. just a few days ago, we found out this company was the subject of activist pressure keith meister is going to be on with scott next hour, but between that and of course the public valuation coming down for all of these software names, talk about how this deal got done and whether management was more open to it because of some of those issues. >> well, thank you, sara, first of all i'm delighted to be on here to today to discuss anaplan which is in our mind one of the most unique enterprise software companies we cover so we have approached this company and this market well before any a

thank you so much for helping us start the hour joaquin of pimco >>> here is a look at the road map forss that could change the industry and the eu going after big tech, aiming to change app stores. >> and bed bath & beyond huntsman moving in opposite directions this morning. we'll tell you why more "sqwkn e re" ua othstetis straight ahead don't go anywhere. check out this vrbo. oh man. ♪♪ come on. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ >>> as we head back to break, chinese stocks mostly low tore close out a choppy week. you could see there jd and alibaba down more than 4% and more than 3% respectively. while the china internet index is down more than 5% the k-web that tracks many of the names poised for the fifth weekly decline in the last six weeks. there is more ahead. stay with us concussions, migraine attacks followed me home. i wasn't there for my family and i was barely functioning. until nurtec odt changed all that. nurtec is the only medication that can treat & prevent my migraines. don't take if allergic to nurtec. the most common side effects were nausea, stomach pain, and indigestion. now, i run

pimco, a global leader in active fixed income.expanded our family... for the wireless savings. then, my sister told me about visible. (sister) get unlimited data for as low as $25 a month. no family needed. (vo) visible. try us for free before you switch. ♪ >>> is it too much for the s&p technology it's okay today. technology was great but that's what we were pondering today before jeff marks and i started our morning meeting for investment club members that we hold every day at 20 after 10:00. we really duke it out. but we both realized today wow, we have too much tech. we don't care all that much about the so-called waitings i'm going the talk about them tomorrow night meaning what percentage of the s&p is devoted to industrials, discretionary spending or technology we spend far more time talking about which companies are best of breed and can make us the best long-term money of course we still believe in diversification. it has kept the trust from being blown out dozens of times, and it's allowed us to make and distribute a lot

pimco, a global leader in active fixed income. music playing] ♪♪ welcome to home sweet weathertech home. a place where dirt stays outside. and floors are protected. where standing is comfortable. and water never leaves a mark. it's spotless under the sink. and kids can be kids. order your american made products at weathertech.com. >>> at the end of what was definitely one of the most difficult weeks in the market that i can remember, i think it may be the perfect moments to survey some of the devastation in the stock market. see if we can learn some lessons. not necessary buy stocks but lessons about the beaten down nasdaq and the ipos we have seen which continue to lead the market forward in the last couple of years we have had a flood of ipos and throughout this whole period, i warned you many of them were just way too dangerous to touch. i said it to you again and again and again. well, they had strater fearic evaluations that i knew had to crash to earth, but before the fed started signaling it was ready to tighten, it wass ea

pimco, a global leader in active fixed income. make fitness routine with pure protein high protein.n, low sugar.. so good high protein, low sugar, mmm birthday cake and for a cheesy crunch, try pure protein snacks. if you invest in the s&p 500 your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500, which reduces potential concentration risk and helps keep your portfolio in balance. stay in balance with invesco's rsp. age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. >>> elon musk has been a focal supporter of ukraine in its efforts to beat back russia and at the same time a cnbc.com report shows that russia began buying aluminum from a russian company called rusal tesla has ties to other russian suppliers. the russian oligarch is currently being sanctioned the author of the store joins us now with some more details laura, great to have you with us. >> thank you for having m

pimco, a global leader in active fixed income. your shipping manager left to “find themself.” you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire make fitness routine with pure protein high protein. low sugar. taste great. high protein, low sugar.. so good high protein, low sugar, mmm birthday cake and for a cheesy crunch, try pure protein snacks. >>> welcome back to "fast money. nvidia changing course today the chip maker ending the day up nearly 8%, ending a three-day slide. the stock is down over 21% guy, you flagged this one. >> i believe that february 16th was a wednesday, i mentioned that because we were on hiatus for the olympics, right sly so. but nvidia reported a great fourth quarter and guided revenue higher to the top end of the range for the first quarter. it was really a strong quarter, strong guide the stock had sold off from the november highs in a meaningful way. guess what stock was not able to rally. good news, bad stock action. and we've seen it ever

is that something you are expecting at pimco? we have seen the german two year go positive today. we are now firmly positive and that trend has continued over the last few days. what do you do in this kind of environment? geraldine: certainly a hike from the ecb this year toward the end of the year is a high probability. in terms of asset allocation, we are moving to this late cycle with quite a bit of uncertainty. in our equity portfolio, we are reinforcing the higher-quality part of the portfolio. we are reinforcing the part of the portfolio that will grow no matter what, especially given the energy transition that has to take place in europe. in terms of credit, we are more selective and really going in those places that are default remote, so much more quality and we think we are moving late cycle. a recession is not the case, but this is a probability we need to watch carefully. kailey: on the subject of asset allocation, given where yields are, at what point is that something you may find attractive and want to add to your portfolio? geraldine: at this stage, the contour of

pimco, a global leader in active fixed income. i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your next step. see that you do. would you like some coffee? workday. the finance, hr, and planning system for a changing world. ♪ >>> today is equal pay day symbolizes how far in the year the average woman has to earn to make what the average man earns for the year there will be a white house event today which will be attended by ceos and the u.s. women's soccer team. the biden administration is proposing banning the use of salary history and hiring and pay setting for federal employees. the president will sign an executive order to promote pay equity for job applicants of federal contractors as well. >>> coming up. crude prices tumbling again. they went back to you? >>

pimco, a global leader in active fixed income.n, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪ >>> the cosmonauts and astronauts are getting along as usual. today marks a significant event because three cosmonauts will launch from kazakhstan to the international space station. the cooperation in civil space as opposed to military space, that cooperation continues and we expect it to continue >> that was nasa administrator bill nelson speaking to me this morning. and batting down the questions of the future of that civil space partnership between the u.s. and russia in the midst of this on going conflict in ukraine, which partnership includes the international space station. that came after some twitter comments from his counterpart at the russian space agency joining me now is chris kemp on the heels of astra's successful mission. congrats on the mission. from an industry standpoint, the fact that you are able to assess that recent failure about a month ago, make changes and co

between the pimco veteran and the septuagenarian bill gross saying bonds are not priced properly.ecb going to take its foot off the gas? >> welcome to "bloomberg markets." europe. here are your top headlines. zelensky calls for negotiations with putin and said foreign ministers get ready to meet at the high level encounters since the russian invasion. the u.s. house approved over $13 billion in aid for ukraine. a wild week for oil. the biggest drop since november.

constantine vite -- constantine -- constantine bite -- konstantin veit, pimco portfolio manager, joinings now. there's a gross effect coming from the ukrainian situation. the energy prices, the linkages that exist between companies like germany and russia, and then there's the inflation area impacts as well. she's obviously going to try and tread very cautiously. what does she need to do tomorrow to keep the show on the rails? konstantin: this will not be an easy one from a communication perspective. as you mentioned, there's the growth angle, the inflation angle, so the near term inflation trajectory is very clear, but the medium term trajectory is less clear than before. so to some extent, they can make the case to look through the current spike in inflation given that it is clearly a supply side story, a negative supply shock for the economy, but on the other hand, they cannot look through this forever because there is a risk down the line that goes into inflation expectations and assuages expectations to a large extent. the key for her will be to keep all options on the table, to rem

pimco has said last week that commodities are the way to protect yourself in this environment, but thisould be a short-term hedge but you could burn quickly. what do you mean by that? tatjana: the surges of commodity prices, volatility is extremely high. it can be very helpful to test the commodity borders, but then you have to think about that as it comes. when it comes to companies that try to cash their quarters, what you see is burnout and they might see going into hedges and think that they have hedged their quarter, but if on the other side the counterparts came up with more on the duties, then your hedge support is gone. we should be ready for this as well, that your hedge is not going to work out. manus: you said you are worried about the liquidity, i am paraphrasing. you are concerned about the actions and the credit markets. in moments like this, liquidity is my biggest enemy. while the lack of liquidity is often my biggest enemy. where in these moments of existential risk is the best liquidity and most robust market for me to participate in? tatjana: probably, you are thinkin

scale and blackrock has $10 trillion in assets but that is a big number compared to what we saw at pimcothan: the numbers are building and building quickly. lisa: the fact that we are not seeing the realized losses, the trickle-down effects and the instability people are worried about. we saw the london metals exchange, how much further do we have to go as it percolates to the system? jonathan: don't get tk started on nickel. m putin quotes, there certain positive elements as far as negotiators from our side informed me. that was vladimir putin speaking to lukashenko. the market reaction obvious, up 1.5% on the s&p. a 10 year right now at 2.0057%. this goes both ways and we have seen it play out in the last 10 minutes. tom: i would go to maria tadeo's voice and the tone that she described in ukraine in the last 48 hours. there is such a separation, as and reorder and said, the staged moment from the gentleman -- and as annmarie hordern said, the staged moment from the gentleman. jonathan: i would detach myself from the price action. market participants have to judge an ever evolving, cha

while were getting into the portfolio construction theories, i want to get your opinion on something pimcout out a few hours ago. they're talking about diversification of your portfolio. they said that perhaps instead of a classic 60-40, investors should look to commodities to act as a diversifying force as inflation pushes higher as the war disrupts supply chains. do you think there's any value in that tact? oliver: were still big believers in the 60-40 portfolio. it has served investors well. commodities don't generate cash flow. it's difficult to value them. stocks pay dividend and bonds pay coupons. so they are easy to judge valuations and commodities are not. think you can play commodities to equities and bonds anyway. in this region we stand to benefit from the crisis because of cheap oil and gas. that has a trickle-down effect to the rest of the economy. we've already seen that in the markets with double-digit gains this year in abu dhabi, relative to double-digit losses in other markets. you can do it with regular equities or bonds. dani: oliver, i love that you're being honest abo

jonathan: the reporting this week on blackrock and pimco this week alone.isa: especially if the determination committee for derivatives counts russia in default, and you see a lot of covenants triggered and you start to see the actual losses get realized. how the financial system handles that at a time when central banks are not going to swoop in necessarily as the fed or ecb put. lisa: good morning -- jonathan: good morning to you all. heard on radio, seen on tv, this is bloomberg. ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. president biden set to call for an end to russia's preferred strayed status today. the move would clear its wafer tariffs on russian imports. the president cannot unilaterally change russia's trade status because that power lies with congress. the u.s. senate has passed a spending bill that includes $13.6 billion in security and humanitarian aid for ukraine. that was part of the $1.5 trillion measure that will keep the federal government in operation for the rest of this fiscal

pimco, a global leader in active fixed income.ock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. i am here because they revolutionized immunotherapy. (crowi am here because - bithey saw how cancero! adapts to different oxygen levels and starved it. i am here because they switched off egfr gene mutation and stopped the growth of tumor cells. there's a place that's making one advanced cancer discovery after another for 75 years. i am here... i am here.... because of dana-farber. what we do here changes lives everywhere. i am here. (typing) (toddler laughs) ♪♪ (train whizzes by) ♪♪ (toddler babbling) ♪♪ (buzzing sound) ♪♪ (dog barks) ♪♪ (wine glasses clink) ♪♪ (typing) ♪♪ (toddler babbling) (typing) ♪♪ ♪♪ ( ♪♪ ) i call it the wheel. okay. this is a miss. edison, can i be honest with you? i-i-i-it stinks. (speaking japanese) like i was saying, it's ftx. it's a safe and easy way to get into crypto. ehhh, i don't think so. and i'm never wrong about this stuff. never. for investor

even we we were talking pimco, we were talking $1.5 billion in cds exposure.re just numbers on a piece of paper. it is hard for us to say. it is next wednesday. what do you think is going to be more important, the fed, or russia defaulting on coupon payments? that is the real issue here, and that is where my eyes are focused. jonathan: the language they are, russia is going to default. that is the language you used. is it that certain? damian: it is. basically -- the 23's are trading at $0.23 on the dollar. the market is already pricing in a default. if you look at cds today, it is a 92% probability of default. lisa: considering the fact it is pretty much priced in, what is the difference between the clearing it a default and where we are right now? damian: a technical default, there's going to be a 30 day grace. on those russian sovereign bonds, so they can go into default, but honestly, i am just trying to keep this in my ear, the reality is technical default, they're definitely going to go into technical. rosneft did make dollar payments on those bonds. wha

pimco, a global leader in active fixed income.the battlefield and multiple concussions, migraine attacks followed me home. i wasn't there for my family and i was barely functioning. until nurtec odt changed all that. nurtec is the only medication that can treat & prevent my migraines. don't take if allergic to nurtec. the most common side effects were nausea, stomach pain, and indigestion. now, i run a non-profit for other green berets. when i feel like myself, i can do so much more. what will you do? ask your doctor about nurtec today. [sound of helicopter blades] what will you do? ugh... they found me. ♪ ♪ nice suits, you guys blend right in. the world needs you back. i'm retired greg, you know this. people have their money just sitting around doing nothing... that's bad, they shouldn't do that. they're getting crushed by inflation. well, i feel for them. they're taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ good to have you back, old friend. yeah, eyes

for over 50 years, pimco has reinvented fixed income to create opportunities for investors in every market environment. so, no matter what happens you can build the bonds that mean the most to you. pimco, a global leader in active fixed income. >>> 30 minutes left of trading let's check in on individual market movers now. peloton testing a new pricing structure starting tomorrow. it's going to allow customers to pay one monthly fee that covers the bike and subscription service. the fee will range from $60 to $100 a month and come with an option to cancel or return the bike at any time stock is down about 3.5% agriculture stocks jumping this morning on news russia is temporarily suspending fertilizer exports stocks then got another pop just before 1:00 p.m. eastern when a top commodities trader told scott wapner he's worried about food shortages as the year progresses but he does see opportunities arising in the agriculture stocks >> the cheapest farmland and farming company in the world is traded on the new york stock exchange at more than a 15% free cash flow yield, but a company like mos

a broader income fund like you saw over at pimco where little bit of the money might be exposed to russia suffer hundreds of billions of dollars worth of losses in those funds because the assets cannot be sold. guy: what happens to the assets? how are they being treated? sonali: one part of the story is the banks, even those exiting russia or reducing their exposure still have to help their clients make markets and selling the bonds is very difficult. what we are seeing on the buy side is people do not necessarily want to be seen as the buyers of these bonds right now. where to the bonds go at the end of the day if they cannot be sold? when it comes to sanctions entities, unwinding those positions to see how that can safely be done is also something being worked out among the big asset managers and the market makers as we speak. kailey: we have heard from goldman, we have heard from j.p. morgan. when are we going to hear from citi and how they approach this? $10 billion in direct exposure. sonali: for citigroup the exposure is large but also the employee base is large. the fact they've be