ubs's nadia lovell on this market.are really trying to paint the excitations on wall street at the moment, and this is from ubs. they have a june target for next year, a december target of next year. the s&p 500 closed yesterday at 4363. the equity market for them is going higher. they like the cyclicals. they have performed well recently. they expect it to continue. tom: check the calendar. this is no different than citigroup modeling out free cash flow at apple into 2024. this is where we begin to see not so much an extrapolation, but really thinking about the backdrop of economics that we cover every day and what it means. so far, what i am seeing are very constructive use forward through 2022 and into the following year. jonathan: the ubs and rbc they be on one side. on the other side, morgan stanley, bank of america, far less constructive. lisa: they are threading a needle, all of these analysts. we heard that from nadia, the idea that this leads into great earnings, but not necessarily a more hawkish fed. that is

ubs crushes on dealmaking.he bank sees a 78% jump in advisory fees and lags its peers and trading revenue. draftkings walks away from a potential $22.4 billion offer for the sports betting firm, throwing cold water on the gambling frenzy. and one hazard lollar -- and one hunted dollar oil prices -- and $100 oil prices. larry fink says we will deal with oil inflation for a long time. i'm alix steel. dani burger is in london. guy dotson is off -- guy johnson is off. the u.s. still concerned about gas prices. they will continue to talk to opec. it does feel like high-energy prices are percolating, despite the fact that earnings are really crushing it right now. dani: so true. we also had the aramco ceo saying that we still have the strong demand and really tight supply, so all of that lending itself to these issues of higher energy, though margins pretty much maintained for a lot of the earnings we are seeing. alix: and we are still right near record highs for european equities. dani: we are so close to record hig

. �* , can whitley different rules for ubs, �* , , ,y can whitley different rules for ubs. it's messy. it's messy. we've not three pubs. it's messy. it's messy. we've got three clothing _ pubs. it's messy. it's messy. we've got three clothing stories _ pubs. it's messy. it's messy. we've got three clothing stories to - pubs. it's messy. it's messy. we've got three clothing stories to get - got three clothing stories to get through very quickly. clothing story one said it's never say never with us again. a photograph of the cambridge is was up were enough to rattle through these was that very quickly tell us what this is about. it's the duke and duchess who had gone off to the earth shot prize tonight and in the theme of the event would they are didn't recycle close that has been much comments on social media about prince william's outfits which seems to mix the green velvet leather jacket of sort of a late night of the casino with a black turtleneck and i'm not one to judge fashion but... i black turtleneck and i'm not one to judge fashion but. . ._ judge fashion but... i d

matt: thank you for joining us, matthew miss, head of -- mish, head of credit strategy at ubs.t has been to the moon for former president donald trump's media company, shares of digital world acquisition company, dwac, rose as much as 1225%. the spac company will merge with a private company, trump media and technology group. it triggered 12 trading halts today. his fans on social media have pumped the stock, fueling heavy trading. and it has been a pretty amazing journey to watch. i mean, three days in a row now of rallies and growing from nothing to $1.5 billion market cap today. amanda: keep in mind, this is a blank check company, a blank page company. we do not know what the company will do. he has grand plans for it, but it is not doing anything at. to me, it is emblematic of a point in the market where money seeking a home, even if it does not know why. matt: my personal take is this is a little bit different because it concerns a president of the united states. even if the president's son is not an artist and people are willing to pay half $1 million for his paintings, i

ubs has joined its wall street rivals with a third-quarter profit surge. wealth management sword the most in three years. like a number of banks, ubs is looking to asia for profits. >> absolutely can be. we know the country very well and a very successful both in the onshore business and offshore. a very good combination of businesses and asset management business. and we plan to invest more. >> ubs is starting a digital management welfare in the u.s.. president biden will probably be unable with its key campaign promises to roll back the 2017 tax cut. there is unyielding resistance. the president has acknowledged there aren't enough votes to raise 21% corporate tax rate paid ups -- ubs posted third-quarter profits. 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 laura wright, this is bloomberg. ♪ g. ♪ >> the projections that cases would go down are coming true and we hope that will continue and that's what the projections show. the question is how low they wil

joining us is kiran ganesh, global head of investment communications, ubs wealth management.hank you for joining us this morning. all eyes on the jobs report later today. how would you characterize the risks going into the numbers? kiran: as i was with jobs reports, it is whether it is too hot or cold. investors will look at it on the risk side. a relatively weak month last month. if below expectations this month,, that could lead to concerns that the effect of the delta variant and weaker consumer confidence is weighing on the jobs market. if it comes in too hot, people may shift their focus away from tapering and maybe toward rate hikes. if it comes in line with consensus, then tapering likely to be starting to be announced in november this year. we think that will be in favor of things like the u.s. dollar as the fed. dani: it does seem like a careful balance that you're describing. in terms of what would prompt the fed to cut -- or to start tapering -- powell talk about this in his last meeting. listen to the sound of what he said. >> for me it would not take a knockout s

ubs reiterating the buy rating and raising the price target to $720 the firm expects subscriber growthdance thanks to a ramp-up. shares of the pop just shy of 20% in the last three months christina, this is more of a "squid games" call although it helps. >> the amount of times people have mentioned it over the past two weeks is incredible. talking about the company as a whole, ubs was bullish on this but web bush a week ago was the operates saying competition is incredibly fierce, content like "squid games" i know cost $21.4 million to make and they're making much, much more than that on the entire series, but overall this new content is going to cost a lot. it could eat away at their margins. the other thing too is the cost of netflix compared to its competitors. just yesterday i was debating should i renew apple tv at $4.99 a month. netflix is more than that. as we go forward more people return to work, return to doing things, are we going to -- is the childreurn rate people are to switch so they can stream "ted laso" and watching that entire series and getting rid a month from now >

ubs has joined wall street rivals with a third quarter profit surge.ealth management fees so ared the most in three years. the bank is looking towards asia for profit. >> i am strategic on china. who can't be, right? we are very successful in the country, both in the onshore and offshore business. we have a very good combination of businesses, and we plan to invest. laura: meanwhile, ubs is starting a digital wealth manager in the u.s., targeting customers with less than $2 million in assets. 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. this is bloomberg. ♪ ♪ >> they are very happy with over $70. i think by the time we had $90 or triple digits, they may get nervous about demand destruction. we are definitely still in the range they are quite comfortable with. jonathan: wonderful to hear from ellen wald. just fantastic, which is why you spoke to her after i left yesterday. thanks for doing that. tom: you were working on another property. jonathan: your equit

ubs european economist.et's get a boomer first were his new -- first word news update. juliette saly. juliette: the imf board has decided to keep kristalina georgieva as managing director. the lender has been examining allegations of improper actions during her time working at the world bank. janet yellen says there was no basis for a change in imf leadership and she also won support from european nations including france and the u.k. a parliamentary inquiry has found the u.k. government made serious mistakes in its early handling of the covid pandemic. the sharply critical report says many lives would have been saved if a full lockdown had been imposed more quickly. it said the country adopted a fatalistic approach to covid early last year and failed to learn from east asian countries that halted the spread using swift lockdown and mass testings. coal futures have surged to a record for a second day in china as another key mining region suffered flooding. two minds are reported to have been impacted by heav

ubs is pushing back on concerns about china growth as it plans to keep spending.he swiss lander's profits jumped on the back of wealth management needs an investment bank returns, but it's asian wealth business saw almost $2 billion in outflows. the ceo told us he is still optimistic about ubs's business in china. >> absolutely. we know the country very well. we are very successful both in the onshore and offshore business. we have a very good combination of businesses, wealth, and asset management, and we plan to invest in them. paul: china released its official roadmap for capping carbon emissions before 2030 just days before the cop 26 climate summit begins in glasgow. the roadmap provides some detail on how beijing plans to deliver on its promise to be carbon neutral by 2050 it has. plans for sectors ranging from hydropower, to oil refining. 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. kathleen: still ahead, we look at the process ask as this casino operator get t

managing director at ubs private wealth management.rces tell us that amazon.com is shopping for used boeing 777 and cargo planes. both plane models are a notch above its current fleet. delta airlines fell by the most in a year after warning that rising fuel costs threaten the earnings outlook. the carrier says revenue return to 66% of pre-covered levels in the previous quarter. net income came to $194 million or about early since a share. american and southwest will post next week. honda is doubling down on electric business in china pledging that all models will be back in powered by 2030. they will build two new factories in china beginning in 2024 and is planning to introduce to new electric models within five years. honda wants to completely ditch combustion engines by 2040. and a look at the day had for australia, the september jobs report is due. economists are predicting a large decline in positions due to disruptions from the delta variant. will also be watching the commodities sector after output figures are released. coal pro

sarah ponczek, ubs private management advisor, joins us next.his is bloomberg. ♪ laura: let's check in on the bloomberg first word news. president biden turns his focus to supply chain transportation bottlenecks today. he will meet with corporate executives, labor leaders, and port officials. the president will highlight they have done to ease distribution backlogs. the congested port of los angeles announce a 24 hours a day, seven days a week effort to confront the squeeze on goods. vladimir putin says russia is ready to supply as much natural gas as europe needs. speaking at an energy forum in moscow, the russian leader said it was very important to stabilize the market. europe faces a gas crisis ahead of the winter due to a surge in prices and a drop in reserves. the european union will offer a fresh round of concessions to the u.k. over northern ireland in the newest brexit negotiations. the eu will propose cutting as much as 50% of the customs checks northern ireland and up to 80% of the sanitary checks on food imports. northern ireland pro

ubs cut to sell.of shares exiting a lock up in a month says they could see more selng t weeks ahead dow's down 23. we're back in two. but then the walls went up and choice became limited. until now. now we're in a new digital landscape of emerging channels, data-driven campaigns and measurable outcomes. welcome to now - the new open web. powered by people-based software from viant - a new standard in media. the upgrade marketers deserve. viant. built for now. ♪♪ zblncht welcome back claude cloudfare is trading at a new high it's currently at nearly 175 month to date, it is up more than 450%. now compare that to some of its peers like crowdstrike both are still outperforming tech more broadly, but not really as you can see, holding a candle to cloudflare during that period it is first on the etf cibr that's up more than 130% year-to-date, jon. >> wow okay if you missed part of the show and say you got a cable box that's 15 years old, don't beat yourself up. you can follow and subscribe to our podcast.

rishaad: the effects and ubs global wealth management.n you see the prices up from last monday, 25%, looking at base metals since last monday, what do you feel about 13.4%? >> i think inventory is very low and we got a little bit of a shock last week when we heard some of the refiners in europe are probably cutting production. i think that adds to the picture that we already knew and china, coming with supply cuts. and what happens is inventory continue to drop and maybe not globally, but at exchanges. what needs to happen is prices need to explode to trickle -- trigger demand. rishaad: this is not normal, can it be this? >> i will not say normal. i will say what tends to happen in situations is prices tend to overshoot. demand tends to be elastic. if you produce a car, you are not going to stop the production, that's because prices are higher. prices can go vertically and can even go higher. that's one of the key messages. it is also tied to china for construction development. but copper, i would not be surprised if we see in overshoot y

rick santelli, thank you >>> turning to china ubs is double upgrading stocks there to overweight after 16 months with an underweight call. the firm says tighter monetary policy is working through the economy. investors are too bearish on regulation, and the worst of the credit impulse is likely behind us but at the same time chinese home prices in september just fell for the first time in six years. eunice eu eunice yoon is live for us >> reporter: thanks so much, kelly. chinese home buyers don't have the conviction ubs does of the price declines across 70 cities was less than 1% on the whole, butted adds to the concerns that goldman sachs has estimated about a quarter of gdp of course, it is already shaky because of all of the trouble of the debt-laden property developers such as evergrande. in fact, evergrande told the hong kong exchange tonight it failed to close a deal to sell a 51% stake in its property management business to a smaller rival for $2.6 billion that makes it just that much harder for the company to be able to make up for a missed payment of $83.5 million on an offsho

. >> ubs. >> ups is later this morning. >> ubs about ups you're doing ubs. >> no. ups i'm looking forward to 3m you hear inflationary things too. but in the meantime ubs reported a $2.3 billion profit in the third quarter up from $2 billion in the prior quarter and well above expectations profit at the wealth management division rose 42% as investments hit $2.3 trillion. the ceo of ubs told cnbc you can see the stock is up about .5%. >>> facebook shares rising even amid concerns over the recent document dump. we'll dig through those earnings next >>> plus tesla's market cap hitting $1 trillion but who's counting we'll show you the impact on elon musk's net worth. that's next. you're watching "squawk box" live from the market site in times square if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading

yvonne: ubs is pushing back against concerns about china's growth and plans to keep spending. lender's profit jumped on the back of investment bank concerns, but it's asian wealth business -- the ceo told us he is still optimistic about ubs' business in china. >> we know the country very well. we are very successful in the country, both in the onshore and offshore business. we have a very good combination of businesses in the wealth, iv, and asset management business and plan to invest more. yvonne: a panel of u.s. experts say the benefits of a covid-19 vaccine for young children exceeds its risk. the fda advisory committee voted 17-02 back the riser-biontech immunization -- the fda advisory committee voted 17-0 two back the pfizer-biontech immunization. david: let's have a look at what is coming up. i nobel peace prize winner calling on global regulation to stop misinformation, accusing facebook of being biased against facts. your interview with her is next. -- our interview with her is next. this is bloomberg. ♪ avon: one of the winners of this year's nobel peace prize is ca

ubs wealth management seen both management practices stabilizing. this is bloomberg. ♪ haidi: the world bank chief economist expects a recent spike in inflation to continue. she told kathleen hays that the banks are a very tough vision. >> post-covid is not just about the kind of decline in aggregate demand, sharp declines in aggregate demand we had after the global financial crisis and even more forceful ones after covid. it's about aggregate supply shock. they are not tightly bundled, like they were in the 1970's. many supply shocks are manifesting themselves in all kinds of pressures and and bottlenecks and shortages and the like, which make for a more persistent and stubborn inflation. kathleen: are central banks waiting too long to address this? >> i gave a lecture a couple of weeks ago on the issue of central banks and my sense is central banks are in a tough position in which they don't want to derail what could be a fairly uncertain recovery given the cycles we've been through with the variations and gyrations of covid. they are concerned ab

sydney -- the ubs ceo.nty more coming on "daybreak: australia with facebook earnings coming up next. this is bloomberg. ♪ >> is an earnings story. >> stock multiples are actually down over the last year. >> rising interest rates is a sign of confidence in the economy, not a problem for stocks. >> every quarter-point hike has a magnified impact on financial conditions. >> considering pulling back and tightening monetary policy. >> we do not think there is pain trade in seeing rates go higher. >> the way you combat that is with record profit. >> our profits are going to continue to be quite robust. >> companies are coming through pretty strong. >> you are seeing tremendous amount of money continue to come into the financial markets. haidi: some of our earlier guests on what has been a pretty strong earnings season so far. facebook shares are up after the social media giant said revenue missed expectations but user growth came in better than expected. let's discuss with alex. you have to look at this in the co

ubs is equities house. deutsche bank is rates house. in terms of comparison to the u.s., that is what the market is going to be doing. the u.s. banks were driven by advisory. let's keep that in mind. a few other stocks which are doing, let me bring you some of the news flow from dws. we will catch up with the deutsche bank ceo a little bit later on. to dws, net inflows of $12 billion. the market was looking for $7.46 billion. you see a monster flow but we know that anyway from the bank of america, bank of america's flow results that they give us on a weekly basis. net revenue for the third quarter. revenue comes in at 644 from ahead of the estimates of 627. that is the top line from dws. very comfortable beat on the inflows. that is the critical point. let me take you to another start which was just reported in ecuador. they have reported their net for the third quarter. the norwegian energy company says it plans to increase the share buyback to $1 billion. good news all around if you are a shareholder. my guest is the ceo. always good

what is in new arrangement mean for ubs? reporter: this would be one of the biggest changes yet.ve who took over about a year ago, they are working in an agile manner. they will be better at working across divisions. this move is under consideration would really throw the streamline of their operations. what they are considering is having a fixed profit share agreement between the wealth management team in the investment banking team rather than the model they have now where is shared based on different products and services. kathleen: it seems like there is a lot of internal bickering? is that why there considering the changes? reporter: you put the nail at the head. at the heart of it is an internal power struggle. you have that meeting, the ceo's desire for a streamlined business and that creates a scenario where the banks global family office which is really at the heart of these talks, at which case, caters to the most complex wealth clients. we are talking about forwarding that to the rest of the business. we know that ubs wealth heads are unhappy that the unit typically sh

ube uber was up earlier today but perhaps came back to earth because a lot of things still have to be put in place and it's funny we're talking about hertz again. i remember it as the original meme stock because it went bankrupt and only held on the promise of $100,000 tesla fleet partnership with uber and carvana and might have just got the meme crowd looking at it >> mark field now running hertz, john, who has had critical things to say about tesla's space versus the legacy. but i mean the deal is the deal. and that's what you get if you have your product sort of up and ready to go. example of first strike advantage. >> i'm curious how this is going to work when people rent a tesla and drive it out of the hertz and do they know where they're going to charge it and stranded teslas and people are excited but i want to know how things work lots of questions for me still >> there are supposed to be super chargers everywhere, but i suppose the same way you have to figure out where to fill up your car with gas and return it charged or not charged a tesla charger is smaller than a gas stat

ubs. we're more convinced by the positive stance in equity investors today. our highest conviction call, better times ahead stocks likely to move higher so again, stocked seem virtuvirtual n vulnerable at the beginning of last week. rallying off declines today. is that the conversation we need to be having now >> well, i think that it's obvious that bounce, that the market always bounces off the dips the question is that are you buying the market or buying stocks because stocks would be a different story. there's still plenty of stocks that haven't bounced that haven't gotten back up to new highs or a couple of percentages. it could just be underneath. because what is underneath has been these rolling corrections of 10 and 20% or 25% as you pointed out last week in the semis. that's where i'm hunting so the market can do what it wants to do. i don't expect it to change now. i'm looking at earnings as the companies report and that's where i'll decide where to allocate my capital. so i have found some of those opportunities. i mentioned last week, whether it's

investment-grade credit, ubs pointing out that they will have a negative year.still have some months to go for investment-grade to have a negative year. we can have a negative year in investment-grade and then we are up year to date, how rare is that? mike: it is the duration component. if you look at the credit spread, the excess return of the corporate bonds versus government bonds, it has been a huge year. they have been correlated with stocks, earnings are great, fundamentals are great, companies are upgraded faster than downgraded. we are at an incredible part of the cycle, where we have a tremendous rate of credit calling improvement, and it is reflected in the outperformance of corporate bonds versus government bonds. that is the key point. jonathan: mike stallings -- mike collins is sticking with us. it's good that u.s. that in different places. the week ahead, featuring and host -- a host of global rate decisions. that's next. this is bloomberg. ♪ jonathan: from new york city, i am jonathan ferro. this is "bloomberg real yield." the week ahead, economic

well, i'm not funny. holla, marsha, saki la quinta, look at ubs world, mark of granite, back about how that gets you brought back in. all honestly, i am still hey, i got my how does that was um, how much i could than all doyle as of what, okay, lemme occurs this little much earn i was told to look and believe 30 deck in town. so i had up a, so i had a capital plan better than the car that had thought of common mecca ducked into and sat as low as high as a ha, ha ha ha, about an hour when mac thought she would, she laci, she laughed shocked. that she, that is like a chill my death like a chill. our office she had idea or a or mozilla farmer cant must said ah, these railey army often produces videos about hamas. the palestinian group that has governed garza since 2006. these videos say that her matthews's civilian facilities in garza has what it calls it, human shields. and this claim is used by israel to justify attacks like those on the 4 towers in garza and other palestinian targets. the 1st responsibility is on the, from us once the commerce, using the people there as a human shield,

translation: , ., translation: it started during ube . i _ translation: it started during puberty. when i see _ translation: it started during puberty. when i see a - translation: it started during puberty. when i see a needle . translation: it started during| puberty. when i see a needle or have to get a shot, ijust want to leave. i will tear the place down just to avoid getting a shot. but for astrid and millions of others like her, salvation may be at hand. this is the bubble gun, high—tech using lasers, not needles, to administer a jab. within a second, the glass that contains a liquid is heated by a laser. a bubble is created in at the liquid, pushing the liquid at a velocity and at the order of 100 kilometres per hour. then we can see how it penetrates about one millimetre. never has the scene to be more relevant. vaccinations have been taking place all around the world. could the bubble gun, said to be essentially pain—free, encouraging more reluctant to come forward for the shot? translation: , the shot? translation: ., translatio

while i hear ubs, energy crunch has exposed divisions within the e you over green policies on gary and private. esther has blamed soaring costs on an over reliance on renewables, saying regulations should be changed. well, we discussed the issue with an energy analyst believe if we, if we were aiming at the 2 high energy position without being like metric. and those are the kind of risks that you faced when you do say, if we want to go through an edge of transition, the price of energy will be high and there is no way out of this. and so therefore, we really need to be transparent. these at the, our population of people that are citizen, that if we want to fight climate change, we need to put more money in this. and this is something that perhaps presto has forgotten or perhaps new, but didn't want to share with the people. and this is where we are here right now. education authorities in the united states are asking the government to use anti terror laws and involve the f, b i against parents who protest against the way that children are being taught or the national school boards asso

yes, ubs bills are rapidly rising. yes, pubs have _ bills are rapidly rising.bs have difficult - bills are rapidly rising. yes, pubs have difficult choices i pubs have difficult choices ahead and there are significant costs to food and drink, over 10%, costs to food and drink, over io%, wage inflation is come through as well and operators have been facing increasing wages to face the staffing issue in pubs. if you go around, they are really struggling for staff and are closing certain days of the week, limiting their trading period and right now they need every opportunity to trade, so they have got these costs hitting them, utility costs going up, and they fear that they are going to have to pass some of this onto the consumer. equally, they are conscious that their customers are also facing these increased inflation costs across energy bills and general day—to—day expenses. they are very concerned but will do all they can to contain the tries. as you have said, if you look at sons, they don't quite stack up where the operational costs of pubs have gone to ver

thanks to ubs and edward, and on the verge of full time whistle arsenal salvage. to draw a courtesy of alexander lockers. that after 8 games, the gunners are 12 on the table, 8 points behind leaders. chelsea the host of next years football world cab has announced a new partnership with the world health organization. counter says it hopes the collaboration will ensure the turn of it produces a legacy for both sports and health events to promote healthy living and mental well being will take place throughout the world cup. the project will kick off at the inaugural fee for world if he for arab cup later this year on the 30th of november, which provides a unique opportunity in itself to communicate health focused messaging on a regional level. and as a collective, which in the w h o copper and fifo we will be taking those lessons learned and applying them in our planning and implementation of the 2022 for world cup at that bad. same announcement, former chelsea and ivory coast striker diddy, a drug by maidens debut, was goodwill ambassador for the w h o. unfortunatel

let's bring in the ubs managing director.ow do you get exposure to this recovery when at the same time we have so much uncertainty? xi: there's always a lot of uncertainty in this market. we have strong earnings this week and we just want to keep our investors invested and focus on areas that could be potentially affected and some of our concerns right now, two major ones are inflation and energy but we see there's going to be continued upside in energy and with inflation, we hope that's going to come down toward earlier next year, spring of next year as the economy begins to normalize more. shery: some have said cryptocurrencies could be a hedge for inflation and we've seen the first launch of the first bitcoin etf in the u.s. what do you make of it? xi: we are excited about the first etf for bitcoin but we tell investors to be very cautious with that. it's for highly speculative clients at this point who can withstand a lot of volatility in the near term. we would rather have investors focused on infrastructure or the techn

this is according to strategist at ubs. they're going to end the year at a negative yield. still a ways to go before we hit the 2008 mark. >> it's been interesting how traders are punishing these earnings misses we are seeing on the s&p 500. 84% or so of those companies report earnings beating expectations. a few companies that have missed have been punished severely. we are seeing the aftermath with the s&p falling after hours. procter & gamble taking a hit. nestle as well. paul: evergrande also returning to trade in hong kong yesterday. an important date coming up for evergrande on saturday. the grace period expires. there's a bit of precedence for this. evergrande his negotiated a few extensions before, but saturday is shaping up as a key date. let's get more analysis on evergrande and the deepening concerns about inflation. kathleen, what is the latest we are hearing from the fed? >> a federal reserve board governor, he has been in the fed for a very long time. he said again today he sees inflation back near 2% target next year. now, he sees more upside risk. he said do

vaccine passports could push people to the pubs. passports could push people to the ubs. , , ., �* ,hich would be part of. research, which would be part of their plan b of measures to be introduced or reintroduced if the situation with copan infection rates continues to be as worrying and climb in as worrying away as it is now. that thinking seems to be that if you have vaccine passport requirements for, say, large sports or music venues that already are sort of well ventilated and have preventative measures in place, it will drive people instead into the pubs, where you might not require dollars passports and where there is more laxity over such measures and therefore a higher potential rate of infection —— infection. i'm not sure about the logic of that and where that lies. i know that countries that lies. i know that countries that do have vaccine passports, we look at israel, where they have implemented vaccine passports quite thoroughly, they will have pcr tests as an alternative to him as a vaccine passport or a pcr test, and it's worth pointing out that they are much more affo

caroline: we get subscriptions from ubs, t-mobile and the like.ue has been soaring particularly under the pandemic when everyone realized how much of an online presence they needed. have you brought forward a lot of your sales? can you sustain the revenue growth? >> we believe for companies to become software companies is not related to the pandemic. it is something every company has to become good at. we -- companies are able to deliver to the companies faster. t-mobile was able to deliver 10 times as fast to their customers. goldman sachs was able to go from two weeks to two hours to improve their most important application that is the kind of results companies can get when they go from doing it themselves to the platform. caroline: what is interesting is you were able to do remote work before remote work became a necessity. what is your playbook? when you are talking to your clients who are willing to develop their own applications remotely, they want to collaborate using gitlab, how do you say the soweto thrive in this environment is? how do y

on every background and environment,ub rural, suburban e can get along but we are being set up and it'sorking so we've got to turn it around. >> what is immeasurable as the fourth party how would you measure success? >> by how many states we can unlock from the partisan primary system. hopefully in 22 we will set the process change. >> host: the head of the and notes on the future of the democracy. thank you for your time today. >> guest: this was fun. i love talking to americans. have me back. >> host: the senate has been in recess since about 3:30 this afternoon as leaders negotiate on legislation to suspend the debt ceiling there will be reached later this month. reportedly the minority leader mcconnell offered a short term suspension which doc

he is in glasgow, who is not showing up in putin and russia not showing ub. china are not showing up. president biden wants to send american jobs and america's lifeblood to our enemies, this makes no sense. trey: there was a infrastructure bill that i think passed senate. pending in the house, the project, let's assume it past tomorrow, they will require energy, like currently available energy, how do democrats think we'll build the product product projecting without -- infrastructure projecting without current energy supply. >> you are right, you look at what they are promoting. president biden is at a point he has really disconnected to what the american people believe and where we want to go, there was a large gap between things he is talking about and what american people are talking about. 22% of americans in today's poll said that america is heading in the right directiontion over 70% say we're headed in the wrong direction. when luke at this major reckless tax and spending bill that democrats are now proposing, it makes matters worse. 550 billion dolla

the likes of ubs included. they now see 20 economic expansion for china. haidi: let's take a look at great expectations. one investor said the market expected by september of next year that we have lift off from the fed. we are talking about the head of fixed asset -- fixed income strategy, and he sees that lift up according to the dot plot in 2023. take a lesson for why he thinks the money market has got it wrong at the moment. >> the marketers try to figure out whether policymakers will lead against the inflation that we are seeing. our view is that currently there are too much rate hikes pricing for 2022. haidi: he said the fed is giving indications that all of these inflation risks will still be transitory. just as another prominent voice to what has become a very loud debate. and in that debate we are hearing the likes from j.p. morgan hearing that the market is a little bit ahead of itself. we are talking about the call about the stagflation concerns and the market jitters are misplaced that growth will come in. and that this shift we are seeing into

you have barclays, ubs, all adding to downgrades to china's growth, around 8%.t a stronger offshore you on -- yuan. dani: juliette saly, thank you so much. let's get over to bitcoin, which may be is a little more reliable in its price move it is climbing toward an all-time high as the first bitcoin futures etf is set to launch later today. joanna, how is the crypto market reacting from the etf news and doesn't have further to go from here -- does it have further to go from here? joanna: a lot of people are talking about the record level, less than $2000 off from the high. 64,900 is the record. we are not too far for a volatile asset like it going, that there are people who think it could drop after this is over because it going tends to do that, like the coinbase listing and futures coming online, it does drop significantly. we will see if it drops off after the etf gets started. manus: joanna, to the moon. we are waiting for it to come through. i can just see the wave of tweets. thank you very much with the latest on it going. coming up, the global economy supp

ubs saying there is a chance of an up raid, but not likely.arket might have been caught off guard a little bit. we will be looking for what flu vaccines look like and the pricing of those. they seem to be still a pre-pandemic levels, and that has weighed on a number of drug companies. now to micro fixing, and that is the big story, a couple of them breaking. let's get to the bond market story. we have talked about the bond flattening theme and what that has done to markets. it has certainly taken the edge off the asia-pacific session. the brent crude prices down by 1.8%. it is of the second day of weaker oil prices. stocks have been rising in the united states, and there are questions about iranian supply, when that comes back on stream. it seems the tech sector still very much reflecting the earnings story, fairly mixed. it is decision day for the ecb. president christine lagarde faces the task of readjusting rate inflation. joining us now is our reporter maria tadeo. no further action is expected, but it does seem to be joining the debate ab

ubs pinning growth at 7.6%. we do have winners in the global refining space, asian refiners seeing a boost to their margins. operating rates in the fourth quarter returned to the highs we saw in early 2020. shery: let's go to vonnie quinn with the first word headlines. vonnie: the sec has debunked some conspiracy theory surrounding this year's frenzied gamestop trading. a report analyzes when retail traders took on wall street, sending game stock and other -- gamestop another stocks soaring. several market including payment for order flow. it did not offer specific policy recommendations. india nearing the one billion vaccine milestone mark, but the gap between people who are fully inoculated and those who have had just one shot is widening. they've given two doses to 20% of the population. by comparison, 51% have had a single dose. experts point to a number of factors, including less urgency given lower case numbers. carrie lam is in the hospital after suffering an elbow fracture. she fell at her government hou

ubs, next week looking at 150 basis waits. -- points. these are big moves. >> they are trying to get ahead of inflation. brazil and russia, two of the five out of 20 emerging markets that have positive two years yields, there try to stay ahead of the curve, and they are doing a good job, relative, but you are seeing eastern european blocks, and they are well behind the curve, with negative real yields. they're trying to raise rates, and we saw rates try to get ahead of the curve. they are struggling. that is the issue. they need to raise rates and make the economy more effective. investors need to come on shore to foster growth. >> they are not raising rates, they're going the opposite. emerging market central banks like turkey are having a 200 basis point rate cut. i was talking to strategists, and i asked what they need to see happen in order to put turkish access -- assets in their port folio, and they need a rate point hike. that is not going to happen. how do you make sense of any turkish asset? >> thereto is look at turkey right no

ubs reckons it has $4 billion by 2030 but until we get more detail on who those buyers are, we discussed a rich man's sport and it is certainly being bankrolled by billionaires. emily: ed ludlow in san francisco. thank you for that update. i want to get back to our exclusive conversation with the goldman sachs & co. had of investment banking. i told -- i asked him about the number of companies taking the traditional ipo route versus going with spac. new phenomenon. take a listen. dan: they're still the minority of things -- more companies are still choosing the traditional path of a traditional ipo. we continue to find new ways to do price discovery. emily: there are folks who say the path is broken. ? i don't believe the path is broken. we have done it. they have gone extremely well including the one we just did for warby parker and coinbase. in certain instances, they can be elegant mechanisms to go public. i think the traditional ipo, you talk to companies who have been through it and feel great about it should feel great about the process of picking their shareholders and launching i

kiran ganesh, ubs wealth management global head of investment. let us look at the oil inventory.lix: it is a big build because refinery utilization slipped almost 3%. he saw a solid build around 6 million barrels. you had inventory for gasoline falling. more gasoline being used, less crude being refined into gasoline. you are having oil prices hold onto those gains but only slightly off the highs of the session. all this feeds through into the very powerful metal story we are seeing right now. you got zinc getting an upgrade from citi. they are pretty bullish. guy: because it takes a lot of energy to produce these metals. we are going to continue to figure out exactly what this is going to mean. you can see the price spikes we are seeing right now. we will focus on this next in a little bit of insight into what is happening. this is bloomberg. ♪ ♪ >> some of the metal orders we make are made some years in advance and so, right now, we are not seeing issues as a result of this short-term strike in prices because our mismatch between supply and demand. obviously it is a situation w

to infrastructure bill, i like caterpillar and rentals, the companies that will most likely thrive ubs a new by today. charles: is acting great the last few sessions. >> the spending on capitol expenditures is just technology, it's hard assets caterpillar correct the companies benefit from that. charles: dan, what you like here particularly as we head into the final stretch of figure? >> i think it's sort of the more out-of-favor, cheaper cyclicals, i think that's the best way to display, the names mitch mentioned, financials i would put not bucket, value names and financials, all those are poised to benefit if we are right about this. charles: appreciate starting to show up with you, two of the best minds on wall street. have a great weekend. now i want to bring an weedy strategy katie falcon, i forgot to give you props, the last time you are on, coming off the bottom and you could tell we were approaching the top. i'm thinking we will hit a double top if we start from maple back, you say forget about it, we're going to go through and read it, you were one 100% right. where do we go n

ubs saying some of the selloffs in japanese equities are unjustified. the energy space, no surprise. that has been the only sector holding up the markets over the past week or so. a rebound in hang seng tech stocks after it hit a record low yesterday. looking ahead to the reopen of markets in china after the week of golden week holidays. we could see a little bit of a bid. we will see what move we can get from authorities on the ever grand front, particularly after goldman said the fantasia default has magnified the concerns. looking at chinese estates surging after the company announced it would grow -- go private. it is 75% owned by the billionaire allow family. they will buy up the remaining stake in hong kong. a 40% premium to what we saw it close yesterday. this is a key ever grand backer that has seen it plunge to 18 year lows on the back of these concerns. dani: a great point. interesting to see how chinese markets open up when they do, given the volatility. juliette saly, thank you. over to russia, which is offering relief to europe's gas crisis

there's a single name at ubs, gm , general motors, up 38% year-to-date and in the premarket it's 5924 here is why. it's the beat on eps with the estimate in terms of guidance where they see the full year at 570 to 670 with 540 to 640. a beat and a raise for a company where the stock is having a great year. ford is on the back of this by more than 1% and i believe that we catch up with a chief over at gm later this morning? tom: what's fascinating to me is they can't build the cars, they are worried, worried, worried, but the answer is the cadence has changed. the discussion, john, of detroit and a big auto making eight cents, nine cents, 10 cents on the dollar, it's a change discussion. jonathan: valuing these companies leaning towards tech a little bit more. lisa: with the revenue loans growing in 2023 all the way up to $90 billion at the end of the decade. jonathan: we will catch up with mary barra later this morning. looking forward to that conversation i believe with david westin. tom: is that the rapid up music that they are playing? jonathan: it is the polite way to get to a bre

president biden will meet with the ceos of walmart and ubs who are expected to commit to shifting to 24/7 operations. biden will meet with leaders from the two busiest ports in the u.s.. senior administration officials say the port of l.a. will commit to operating 24/7, something long beach has already been doing for weeks. >> happens with the railroads across the country affects the number of ships in the harbor. >> strong consumer demand combined with shortages across the supply chain means americans aren't finding the things they want on store shelves. it's a logistical headache, business's warning will get worse during the holiday shopping season, the white house has launched a task force to examine the supply chain issues. the big concern is that delays at higher prices will stifle consumer spending which is critical to the already fragile economy. kumasi: the u.s. is reopening its borders with canada and mexico to non-essential travel. homeland security's is the travel change will come sometime next month after a 19 month freeze from the pandemic. fully vaccinated citizens will

city this morning, coming up shortly, not ella val -- shortly, not you -- shortly, nadia lovell of ubsoomberg. >> another exclusive bnp paribas open update for bloomberg tv and radio from tennis channel. the first women's semifinal is set, and a huge upset in the men's draw wednesday at indian wells. two-time champion viktoria azarenka powered her way into the final four for the fourth time in her career. >> it feels like you are starting from the beginning, so i am really happy, and i am motivated to keep going. >> earlier, grigor dmitrov upset the u.s. champ and top seed, daniil medvedev. dmitrov took 11 of the last 14 games. and don't forget, tennis channel's exclusive live coverage hits the air daily at 10:00 a.m.. (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no

trying to get their arms around it right now and you're seeing estimates from $4 billion by 2030 with ubs to a potential $120 billion market opportunity at jeffries. here's what we know. there are two companies in this suborbital space market right now. it's blue origin, the company we are watching and covering so closely right now in the midst of this second crewed flight and virgin galactic. its most direct competitor what we know from both of these companies and bezos beginning to open the hatch, this is a potentially huge market with a lot of demand. more demand than capacity. and that is blue orjudge vice president audrey powers. >> a big hug from her sister captain kirk himself, the great william shatner. our customer chris boshuizen the first -- >> okay. there is the crew emerging from the capsule. we'll bring in will marshall and co-founder who co-founded that company, that space startup alongside chris boshuizen. will, i want to get your response to this successful, completed mission that your long-time friend and former colleague now has completed. >> yeah. i mean, i'm so happy