they are facing and unsolvable -- an unsolvable monetary problem as is the vanke of -- bank of englanda lot of the inflation they are encountering is because of inflation -- energy prices, has nothing to do with the price of money. obviously supply shock from the russian faction. as we see today, that supply shock can be exacerbated with the flip of a switch or the lack of a flip of a switch. as the pipelines stay shut. that radiates into negative sentiment across broader markets. which is why we have seen the s&p and u.s. equities paid after that -- fade after that quote and quote goldilocks jobs number, apparently she had to leave the building to get some gas from somewhere else. >> let's build on that, your headline today was goldilocks pays a visit, how long will she stay? she is not staying long as the s&p struggles into the afternoon here, can we really see a market leaning on the go deluxe narrative with one data point? >> no. it is a really great jobs number from the feds perspective. arguably from the markets perspective. one number does not constitute a trend. it does not cha

beijing taking more visible measures to slow the -- peoples vanke of china higher than expected for bankss foreign currency. global news 24 hours a day, on air and on "bloomberg quicktake." powered by more than 2,700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. alix: we want to bring in bloomberg macro strategist, you can listen to him all day on the terminal. vincent, is this a function of the dollar being strong, or china being so weak? >> a function of china being -- dollar being stronger. you are seeing it across many different -- yield is $.99 this morning, other issues. pound is down, 116. dollar-yen, the strong dollar is having an impact on a lot of currencies. some, more than others, depending on your individual situation. china as you mentioned earlier, with 62 million people in lockdown is not helping, and that is putting pressure on the economy. guy: manage decline, that seems to be the process. manage decline to where? >> good question. it is months, weaker currency looking historically, we are approaching seven, likely to yield so

continued downside, even with some of the biggest developers, the likes of china vanke there, one ofin the session. and bitcoin is heading for a four-day slump, we are seeing potential downside with some of the crypto related stocks. shery: shery: we continue to watch commodity-related stocks. the lithium auction attracted its highest ever winning bid. it is really all about that e.v. battery-metals. we have seen the incredible shortage for the energy transition. the electrification of the world as well. how those minerals are in high demand. also watching japan steel works, cutting its full-year operating income guidance. despite that, it is gaining more than 4% in trading today. haidi: risk-off is the trading mood at the moment. not surprising, as we get into the last trading day before the fed. we are expecting 75 basis points. the question is how long we will he be able to hold rates at that level? where will we end up next year? a lot of questions when it comes to fx vulnerabilities in this side of the world. downside of about 0.9 percent when it comes to trading in japan. the k

ben: i think they will project out in 2023-vanke 24 what they think -- 2023-2024 what they think it willmoment. could be 4.5%, could be 5%. could be higher. the other thing is that the economic rejections will skew towards downside growth over time. if that is in recession territory, those of the edges into that meeting. i think rich will highlight the recession risk on the horizon. lisa: it seems like the asymmetry risk for the fed has put inflation at the forefront. the asymmetry of risk that inflation becomes -- it undermines their credibility. do you think it has more balanced? the fear they get too far as more relevant. rates heading as high as they could. the dollar moving as strong as it is going will torpedo the global economy. ben: i think inflation expectations are moving the right direction the new york fed survey was encouraging. we will have to take note inflation uncertainty is really hot. the moving down to the average. low expectations can stay anchored. they do have a credibility problem. it seems to be moving in the right direction. it requires additional 7500 to 200 ba