principal asset management. actively invested. rishaad: the benchmarks are unchanged. having a look at the outlook. given profit, what does it hold? >> the fed because inhibit allows >>. markets are looking or double-digit rebound next year. >> we're looking at 10% to 15% earnings growth. the key is inflation. industrial profits are highly related with reduce prices and price growth will gave us margins. david: any sectors that stand out? >> tech earnings, next year we have a lot going on in the sector. the impact of ai, alibaba is changing strategies. there are opportunities. we also think of energy and utilities as part of the value and yield strategies as a defensive play, if the volatility does pickup, we prefer some property risk going forward. rishaad: does the trend continue? >> urgency for policymakers to turnaround. the analysis shows holdings at 74%. yvonne: we will leave it there. yvonne: we will leave it there. dear moms and dads, what you have achieved here today is going to help us and our futures. it is why we're coming up on stage to collect your diplom

principal asset management.vely invested. was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com jon: this is bloomberg markets. time for our stock of the hour. we are watching shares of u.s. steel sirs today after japanese steelmaker nippon reached a deal to buy them at $14 billion creating the second largest steel company a follows that u.s. steel had rejected the offer originally. on the labor side, the united steelworkers are pushing back on this one. i want to bring in joe on this. what we know about how this one came together? >> we knew there were multiple bidders in this entire auction. we knew they were there because they announced to themselves. we reported that stelco was there and we were aware there were probably some other bidders . the fact that nippon came out this morning as the winner, it was a bit of a surprise t

principal asset management. actively invested.ancine: the relationship between the united states and china is complex. it has been strained by recent comments from washington that it wants to de-risk itself from the world's second largest economy. but how should a european nation like greece handle beijing? i continue my conversation with prime minister mitsotakis. prime minister, what kind of relationship do you want with china? pm mitsotakis: i would frame our relationship with china within the context of the european union. as a whole, we can work with china on various issues. but they are also a competitor and also a rival on many other issues. i have been advocating for a comprehensive european approach vis-a-vis china. so we do not want to decouple. frankly, we cannot decouple, but we want to de-risk. which means a more measured approach vis-a-vis china. china is also relevant for us. and china is an important market for our agricultural products, for example. it could be an important market in terms of bringing in chinese t

principal asset management. actively invested.y collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just about anywhere! recharge quickly via usb-c. it even cleans itself. order yours now from blendjet.com and bring a little disney into your life. yvonne: lots of breaking news the last few hours or so, watching evergrande shares continuously. that meeting was adjourned again, even though in october we thought it was the last one. looks like this is pushed back for eight weeks. logan as well, that one was adjourned, next meeting january 8. david: bitcoin at $40,000 since the first time spring 2022. gold at these levels for the first time in forever. trust me when i say it's a similar ticker. that's not gold. this is bloomberg. ♪ whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise ac

principal asset management.tively invested. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >> two in the war today is conditions i laid out. there is three of them. lay down your arms. turnover those responsible and give up the hostages. three simple things. this could be over today. lisa: that is john kirby outlining the three conditions for hamas in order to end the war as there is a shift in tone with respect to the ministration cautioning israel to take more of a surgical approach and start to shift away from some of the airstrikes. we have been talking about t

principal asset management. actively invested. i don't want you to move.ize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. alix: we are an hour into the u.s. trading session. we are seeing a little heat taken off of the rally here. the nasdaq 100 is now around the lows of the session, still looking at a record closing high. >> let's take a look at the russell 2000 this has been the lacquered on the year. look at the decline we had out of the summer peak into october. basically a bear market, down about 19% at that time, reversing the entire thing. this is a parabolic uptrend, so it will probably be consolidated. that does not mean the rally will continue. all of this on the pivot, a complete surprise to many, including this is the first time since 201

principal asset management. actively invested.s ago, i came to saona, they told me there's no electricity on the island. we always thought that whatever we did here would be an emblem of what small communities can achieve. trying to give a better life to people that don't have the means to do it. si mi papá estuviera vivo, sé que él tuviera orgulloso también de vivir de esta viviendo una vida como la que estamos viviendo ahora. es electricidad aquí es salud. sonali: this is bloomberg markets and i am sonali basak. max levchin, data and ceo of a firm -- affirm says the world of buy now pay later finance from us is to be an alternative to high interest credit cards satellite, debt. here's part of my conversation with him. max: i find it flattering that someone at the top of a bank in america sees us as an important competitor. it's a statement about the idea we are evolving. a cup of coffee that is a model that will go away over the next years. that is good news writ large. sonali: do you think the model creates new risks to an indu

principal asset management. actively invested. ed: it is time for talking text. paramount are reportedly in talks to bundle their streaming services at a discounted rate. the wall street journal says that discussions are in the early stages and some operational details are unclear. more companies have been resorting to bundling packages to make their offerings more affordable and attractive. meta says that there's no harm done by making its artificial intelligence technology widely available. the chief ai scientist touted the importance of sharing tech while other companies might be more protective. he spoke about advancing ai at a faster rate saying, "if you do this in secret you will fall behind." x ceo sent a memo to employees showing her support of elon musk after his comments this week that insulted brands that have backed away from advertising on the platform calling musk candid and profound adding, "no matter how hard they try, we will not be distracted by sideline critics who don't understand our core mission." caroline: we will be discussing that later i

principal asset management. actively invested. sonali: this is bloomberg markets.g television at 1 p.m. new york time, 6 p.m. in london. this is bloomberg. ♪ ♪ sonali: the pandemic era trading bubble is bursting and it's playing out in etf's. the industry is poised for the second highest number of closures and g emilyrafeo joins us now. you had this big year last year and the last couple of years in ets so how is it playing out so far? >> a lot of them are shutting down. we've seen 10% of all the closures this year have come from thematic etf's soap meme stocks, digital assets, a metaverse etf the closed down. for the last 10 years, we saw esg funds taking in inflows and this is the first year we will see outflows from those funds and for 10 of them closed down -- and 14 of them closed down. guy: themes come and go so isn't this exactly what you would expect to happen? maybe there is an element of truth if you described these as gimmicky. isn't that what these are designed to do? >> quite a bit but as the etf market gets larger, we are seeing issuers come out with

principal asset management. actively invested.rs will have to write code. a lot of code. if an application needs to be modernized then you'll need time, resources... and caffeine. if this sounds daunting then use watsonx code assistant ai designed to multiply developer productivity so you can generate code quickly. let's create a more modern foundation for business, with watsonx code assistant. ibm. let's create. sonali: stocks are still fluctuating today, and it is a busy day for the market. abigail doolittle is tracking the moves. sonali: it is a busy day -- abigail: it is a busy day. we have mixed action. the s&p 500 down about .2%. if this loss holds it will be the first weekly loss for the s&p 500 in six weeks. a bit of a trend change if this occurs. trend shifts can be subtle. it would also be interesting that this might happen ahead of the very important fomc meeting. the russell 2000 about .5%. the dollar index up more than the bloomberg dollar index. the best week at least for the bloomberg dollar index going back to nove

principal asset management. actively invested.et vietnam as the president of china is scheduled to visit the country this week. it will be his first visit in six years. yvonne: it comes just three months after joe biden visited. let's discuss the growing interest in vietnam. where does vietnam fit in your frontier coverage right out? >> it is one of my top country picks in the region. it is the key beneficiary from the global supply chain crunch. and tensions between china and the u.s. these last couple of years have been tough for vietnam. it has all the important structures. rishaad: it is the beneficiary some decoupling taking place. they are expecting investment from china into vietnam. from companies based in shanghai. >> looked at vietnam's partners, china is the biggest one. exports are coming from china. vietnam has close economic and political relationships. there was a partnership with the u.s. a couple of months ago. vietnam already has a partnership with china. coming from that angle, vietnam is a key beneficiary. yvon

principal asset management. actively invested.n a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. >> 9:00 here in hong kong and shanghai. that the bloomberg

principal asset management.get away with a truly soft landing but we will see a bumpy type of landing in the first half of the year. it will be quite brief and that we can get that out of the way and look towards a re-acceleration in the back half. manus: christina hooper, chief market strategist at invesco. it will get bumpy into 2024. we have two sessions left on 2023's scorecard. still have not managed to eke out a new record high. disappointing on the team on surveillance this week. katie: we like the bears. carol: we just want to get over that much. katie: how fund when we hit it on we are on the air? we have the closing level but we are close. manus: we are perilously close. the euro-dollar this morning. jeff healey thinks we will hit parity on the euro-dollar. be careful which shorts you pick. the european landscape is much more susceptible to harder recession than we are here in the united states of america. 10-year yields tick higher. the auctions have gone fine but there's nearly $10 trillion worth of

principal asset management. actively invested.ut this build up the world economy. with borrowing costs at this level across the world and with the higher for longer narrative as well, we are now seeing the world's poorest countries struggle under $3.5 trillion in debt. we are talking about 2024. these nations known as rich world investors, frontier markets will have to repay about $200 billion in bonds and other loans. the bonds issued by my home country of bolivia, ethiopia, tunisia, and a dozen other countries are already in default or trading at levels that suggest investors are bracing for them to miss payments. haidi: after a decade of borrowing, now it's the time for the catch up, for the world's poorest nations. $200 billion in bonds and other loans issued by bolivia, if you'll be a, tunisia and a dozen other countries there. the situation is particularly dire because these nations have small the mystic markets. they must turn to global lenders for cash to spend for infrastructure, hospitals, roads , things they want to bui

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principal asset management. actively invested. and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. surveillance exclusive excited about cpi. jonathan ferro had a four has nap like he is want to do. cpi, it's not cpi is it? lisa: if you get some kind of surprise, michael mckee would know it. mike: were getting a little bit of surprise. we have a flat reading after half percent decline after october. court coming in at 0.0 lower than the twos-tens forecast. 0.9 on ppi for demand and cor at 2%. one inflation number is a 2% with another below that. the real core was up .1 but lower than anticipated. year-over-year at 2.5%. ppi is performing as it has been coming in lower than cpi. tom: don't go away we want to come back to you. markets are moving on this. all little move seemed to be disinflationary. futures are up 47 but in the bond space, four basis points we come in on yields on the two-year. lisa: you see this consistently, all of the cuts are

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principal asset management. actively invested. paul: bloomberg markets, back with you., paul sweeney. we are broadcasting on bloomberg radio and bloomberg tv. we are in the studio here cruising. i have never been on a cruise. kailey: you are missing out. paul: but, kailey, you are an average cruisee. kailey: i am a multi-time cruiser. i have been on many cruises. paul: i have never been on a cruise but i am fascinated by the economics of the cruise industry. and kind of what makes the revenue go, what is on the cost side. what makes a more or less profitable cruise. , no industry was hit more immediately from the pandemic than the cruise industry, and what i remember vividly as these companies, literally in the earliest days, the first week going to the bond market and raising cash, because they knew their boats were not going to be sailing, they were going to be docked for who knows how long and they did not expect there would be that long, but they said, we're going to need cash. but the good news is, the cruise industry is back, baby. we spoke earlier with carnival c

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