this is bloomberg. ♪ this is bloomberg. ♪ francine: welcome to "bloomberg surveillance: early edition," on this friday, february 19. i'm francine lacqua in london, and here's what's coming up on today's program. u.s. lawmakers grill the key players in the gamestop frenzy. in the five-hour hearing, the robinhood chief executive, vlad tenev, takes most of the heat. a vaccine surge is coming. bloomberg analysis finds that america's rollout is about to get a big boost. and is there life in mars? a rover and lands on the red planet. engineers say the robot is in good shape. so we have quite a lot of data today. we had some data out of the u.k. in terms of retail sales. that is pretty much expected because of the lockdown and the third lockdown we are living through in the u.k. we are also getting pmi figures. we are talking to dani burger, the difference between manufacturing and services. manufacturing a bit better-than-expected for february. services pmi much better than expected, rising to 49 point seven instead of the 42 forecast. anything below 50 still indicates a contraction. you ca

this is "bloomberg." ♪ ritika: this is "bloomberg surveillance." the dating a bubble has raised more than 2.1 billion dollars in the ipo, expanding the size of the listing and share price above marketing range. value of about $8.2 million. unusual amongst the dating apps in that only women can make the first move. royal dutch shell says oil production has begun a long-term decline. the company estimates the production will fall 1% to 2% a year and its output will be $.55 lower by 2030. that laid out the plan for transitioning to cleaner energy. assess the target for electric car charging and electricity generation. disney faces a high bar when it reports quarterly earnings after the market closed today. the company riding a wave of enthusiasm. disney shares are up 23%., take more than a subscriber be to impress wall street. that is the latest bloomberg business flash. francine: thank you. let's quickly focus on the markets. if you look at the reflection trait and the equity so far, clear this sharp run-up in equities the start of february is taking

this is bloomberg. ♪ is bloomberg. ♪ ritika: this is "bloomberg surveillance." i am ritika gupta with the bloomberg business flash. boeing is signaling it is at risk of losing more than one third of the orders for its 777x jet. some customers have the right to walk away from sales contracts. the 777x will not take to the skies until 2023. the pentagon is going to college to try to fix its most expensive weapons system. the defense department is tapping the expertise of johns hopkins, carnegie mellon, and georgia tech. they are being asked to figure out what can be done to fix software problems on lockheed martin's f-35. the plane is a flying computer, and software has been a nightmare. it tapped the debt market for the third time since may, selling $14 billion of bonds. the iphone maker wants to return more to shareholders. that is your bloomberg business flash. francine: thank you so much. the european telecom -- part of the mobile network is down due to a military coup over the weekend. the military accounts for 6% of the sales. we will have more on telenor. i

we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. on the retail trading frenzy and aga the short-sellers. veeva ceo peter gassner on the company decision to convert a public corporation. apple taps the bond market. taking advantage of cheaper borrowing costs, tapping the market for a third time since may. amanda: it is broad-based advance across north america. we have seen tech back in the leadership role of the s&p 500, but every group moving higher. energy is the weakest group, performing fairly well north of the border, but certain groups remain in focus. it looks like a rotation back into the leadership of this market. we are still watching the commodity space, silver, perhaps the new focus of retail going after short-sellers. looking forward to that conversation with carson block. one focus is for corporations to think about advancing the novel idea that perhaps a corporation should look the on stakeholders. the public benefit corporation is intended to do that, to

this is bloomberg. ♪ ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua, here in london. let's get to the bloomberg first word news with leigh-ann gerrans. leigh-ann: the u.k. will require travelers from coronavirus hotspots to quarantine. starting on february 15, arrivals from countries on the u.k. travel list will need to isolate for 10 days in government approved accommodations. the news comes amid confusion over how soon the government would implement the policy that was announced last month. the u.s. house of representatives has voted to strip republican member marjorie taylor greene of her committee seat for embracing conspiracy theories and threats of violence against democrats. 11 republicans voted with the democrats. of the others, few defended her words, but some voted against setting a bad precedent. johnson & johnson is asking u.s. regulators to approve its experimental covid-19 vaccine for emergency use. if cleared, it would give the use eighth -- the usa third vaccine. it would lead to many more doses becoming available.

this is bloomberg. ♪ ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua here in london. european equity markets are trading slightly lower today. this as investors weigh the impact of rising inflation expectations with stocks at record highs. joining us now is marija veitmane, senior multi-asset strategist at state street global markets. there's quite a lot going on. worst of all, we keep talking about this reflation trade. when we talk about junk bonds, there is a movement in the u.s. junk months, yields below 4%. what does it say about risk appetite and how people want yield at any cost? marija: good morning, francine. good morning, everyone. what has caught my eye today is junk bond going down. it's really another kind of implementation of this kind of financial repression idea. we know that interest rates are low, real interest rates are negative and we know that's going to be the environment for a long time. investors are desperate to find anything that yields. you have junk bond yields going to the lowest level ever and that's an

this is bloomberg. ♪ this is bloomberg surveillance. i am leigh-ann gerrans with the bloomberg business flash. the former unicredit ceo plans to raise money for a spac. the new firm will invest in financial services, including wealth management. he spoke exclusively with bloomberg surveillance. >> [indiscernible] leigh-ann: the company is also backed by the ceo of a luxury firm. now shares of vivendi rose the most on record. the paris-based company shares climbed as much as 24%, the biggest ever one day gain since they were listed back in 1989. shares in the majority holder of vivendi jumped as much as 80%. the company has planned to lift -- list the decision -- list the division by 2023. some changes at the top of ubs. the bank has named the soul head of its investment banking unit. the copresident is leaving to head the euronet stock exchange. the two men were put in charge as copresidents. since taking over in 2018, they have shaken up the units, splitting it into two segments, global banking and global markets. but is your bloomberg

this is bloomberg. francine? francine: the investor frenzy that drove wild gains in everything from gamestop to silver looks like it could be showing signs of fatigue. the metal is lower today after margin requirements were raised. we have been asking guests what they make of the market moves these past few days. >> the reason it is happening is because there is a lot of cash out there moving. >> a few hedge funds are probably reluctant to short small-cap stocks right now. >> i want to do whatever we can do to help the retail investors. >> the investor that gets caught in the updraft on that and doesn't understand that investing looks like it is all going up, you have just told me it is down 34% today. did the person who took the last buy understand it could happen that quickly echo >> in -- that quickly? >> long-term investors have the benefit of those returns compounding. when you are speculating, you are in essence buying a lottery ticket. >> i would like to think under the new administration there is more soc

this is bloomberg. francine? francine: leigh-ann, thank you so much. i don't even know what to say. now we know the truth. "women speak too much." you kind of don't know how people still say that inn 2021. now, one of the biggest factors of 2021 is to bring a quick end to the pandemic, according to robert meade from pimco who says it is easy for market to get a little too optimistic. meanwhile, we asked our guests for their takes on the reflation trade. >> how persistent is it? >> how much and prices do we get as the economy and consumers have money in the park at -- in their pocket? second, how sustainable is it? >> we get people vaccinated, we make big improvements, and it would not be surprising to see cyclical elements of inflation build. >> the front-end rates will remain -- >> there could be some momentum building behind yields. >> we will get reflation of airfare and hotels. >> already, most of investors believe that, you know, the inflation and rising rates are there, and there's probably more downside ri

this is bloomberg. ♪ francine: economics, policy, finance. this is "bloomberg surveillance ." i'm francine lacqua in london. still with us is carlo messina, intesa sanpaolo chief executive. thank you for staying with us. we were having a spirited conversation about italian politics and for the moment, things look more stable. you were explaining some of the things you think mario draghi can put in place now. what does it mean for intesa? you were wanting to get to 5 billion euros for 2022. is there possibility that because of the stability, you surpassed that? carlo: that is something that can allow us to accelerate growth. consider we have 1.2 trillion euros of wealth from the entirely and -- italian services and it is my view you could move a lot of deposits from italian into asset management and insurance products so for us, we would be very positive on the commission side and on the others, you can add improvement in asset quality because better results and inflows from performing loans into nonperforming loans could be positive and a reduction would also be on the cost of

this is bloomberg. tom? tom: correlated, equities, bonds, currencies, commodities, accuray's -- equities continuing to lift. futures up 11, the vix does not give me much information right now. what does get me information is the rate market, and there you have two year lower, which is very interesting as the 10 year goes higher come out to a mighty 1.19%. we are on a 2% watch with a 30 year bond. brent crude, $60 a barrel. francine: you have done my data check, tom. i also have the 30-year, treasury yields rising to the highest in a year. inflation implied by the bond market accelerating to the fastest since 2014, and that dovetails nicely between the -- with the debate between janet yellen and larry summers overheating the economy. stocks hitting a record as brent oil tops $60. treasury secretary janet yellen says the u.s. can return to full employment with a robust enough stimulus package. she spoke yesterday to cbs. ms. yellen: this package is going to speed recovery and analysis by moody's and economists

this is bloomberg.♪ >> and mark crumpton with bloomberg's first word news. a three-day forum focusing on the fight against covid-19 opened today with a focus on getting vaccine confidence

this is bloomberg. shery: we have an alert on the bloomberg. air getting the final numbers on the japan bank pmi -- coming in other than the initial estimate. the preliminary number was for 50.6. it has been fluctuating between expansion and contraction but the final number for february coming in at 51.4 at a time we are continuing to see strengthen exports across northeast asia. we have seen the japanese yen a little weaker than expected, though a little pressure upward today but still at the 106 level. the nikkei seeing the best day since december. haidi: we are also taking a look at the latest pmi meetings out of southeast asia countries. vietnam remaining a bright spot. the market manufacturing market in vietnam seeing another tick up. malaysia continuing to languish in contractual territory. as well as thailand seeing a market move lower as well. the philippines unchanged. shery: let's talk about the data from china because the economic recovery floating february. sheltering the new year holiday, virus restrictions dampened what is usually

. >> "bloomberg surveillance "bloomberg surveillance this is," -- this is "bloomberg surveillance." jonathan: good morning, good morning, this is "bloomberg surveillance" live. alongside tom and lisa abramowicz, i'm jonathan ferro. tom keene, a change of leadership on either side of the atlantic to talk about this morning. tom:

this is bloomberg. ♪ ritika: this is "bloomberg surveillance." london has little to celebrate after the first six weeks of freedom on the european union. the financial district lost its crown to amsterdam as europe's best place to buy and sell stocks. relocations of bankers are said to continue in 2021. still backers will insist london will flourish as a financial hub. the dutch bank iag posted a better-than-expected first-quarter profit. the lender satan like there'll be more payouts to shareholders. ing is waiting -- the lender pointing out there will be more payouts to shareholders. miami is also exploring investing funds in the world's largest cryptocurrency. according silicon valley investors and technology investors and he thinks adopting bitcoin is a critical part of that plan. that is your latest bloomberg business flash. tom: thanks so much. maybe the leadership in miami ought to join francine lacqua in the british museum and look at some of the challenges of medieval england in currency stability as they try to make the economy go. fran

this is bloomberg. ♪ leigh-ann: this is bloomberg surveillance. i'm leigh-ann gerrans with the bloomberg business flat. australia says google and facebook are nearing deals to pay domestic media companies for news. the government says it held talks with the two tech giants over the weekend, adding that great progress was made. both firms oppose legislation forcing them to pay media companies for news. after his fourth -- after his fall from race, new whitford plans to start a new firm. he will be chief of a new outfit that plans to focus on the biotech sector. that any comeback is subject to an ongoing investigation. that could ban him from investing. his reputation was tarnished in 2019 he was forced to -- and can barton has resigned after a scathing report from regulators. it found the australian can seem no operator had facilitated money laundering and was not fit to hold a license in sydney. the acquiree recommended -- that is your bloomberg business flash. francine? francine: thank you so much. in a historic second impeachment trial, former p

this is bloomberg. -- of around 17%. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. the ship shortage hounding carmakers around the world is not a long-term concern for general motors. the president tells bloomberg how it is making an impact on gm's ev target. >> i think the pandemic really did not help a lot of our chip suppliers who do a great job under normal conditions. when the pandemic hit, the whole industry brought all of the factories down. a lot of that supply was still going into or shifted into consumer electronics. the thought was -- that industry may not recover as fast as some of the other industries. it takes a while to grow and do the silica and chips. -- silicon chips. once the industry came back faster than others thought, we got a hole. it is not a long-term supply issue that we can see. the other piece of it on the precious metal piece of it, we use a ton of precious metals in our catalytic converters and other anti-pollution devices that are inside the internal combustion engine of our vehicles in the industry. they ar

this is bloomberg. ♪ ritika: this is bloomberg surveillance. i am ritika gupta with the "first word news." a group of 10 republicans will present their proposal. to president biden today. republicans mostly rejected the president's $1.9 trillion proposal. still, the president has said he hopes both sides can negotiate a bipartisan deal. former president trump is named two trial lawyers to represent him at his upcoming impeachment trial. he parted ways with his previous defense team over the weekend. according to reports, they left after trump wanted to argue the election had been stolen from him by massive fraud. the foreign ministry says both the u.s. must reverse a series of key sanctions that allow -- both the u.s. and iran are calling on each other to restore the international agreement. in russia, more than 4000 people were arrested in a second straight week of anti-putin protests. a russian court is preparing to have -- hand the opposition leader a three and a half year prison term. global news, 24 hours a day, on air and on quicktake, po

this is bloomberg, a story

this is bloomberg. global. this is bloomberg. india's economy looks ready to leave a sharp downturn behind. there are more signs of gathering momentum in january. two of the eight high frequency indicators tracked by bloomberg improved last month while five held steady and just one deteriorated. let's get more from the lead economist. it does seem like when you factor in leading that recovery in india and the budget, government spending is expected to help boost it further. >> yes. i think the last two quarters have had a surprising upside and we're seeing it starting in the fourth quarter. everything is looking pretty much up reflecting -- i think more importantly, everything is pretty much complemented by the pickup in spending. government spending -- if everything falls into place we'll come out of the quarter -- 2 [inaudible] 6% for the whole year. of course. it -- i think overall we're pretty much poised to paint a strong group in the next two quarters. >> all stars are aligned until you take a look at oil. all prices surgin

this is bloomberg. ♪ anna: welcome back to "bloomberg markets: european open." after yesterday's post powell recovery for u.s. stocks, you might expect futures would look more positive. dax futures flat. european futures to the downside. u.s. futures weaker as well. cyclical stocks outperformed in the u.s. session yesterday with travel and leisure some of the biggest gainers begin to lay out roadmaps out of lockdown. what is the best way to play the reopening trade? marcus morris-eyton, portfolio manager / director, allianz global investors is still with us. when we think about reopening, how do you divide that up and do you divide it by sector? that might not be granular enough. thinking about aviation, if you are an airline that operates domestically in a place with unimpeded travel, you will do fine. if you cannot cross borders, you will do less well. how are you thinking about the reopening trade in the parts that you like? marcus: i think that is the right question, where are we focusing. looking at companies that have exposure to a cyclical recovery but ar

this is bloomberg. matt: welcome back to bloomberg markets. we are just about six minutes away from the start of cash trading. let's turn it over to dani burger. >> bnp did signal the worst of the effects of the pandemic may be over. however, they did increase their reserves for bad debt. they missed on some of their trading estimates as well. they have also warned the fixed income trading we saw in 2020, that whom, that environment is unlikely to carry through to this year. anna: moving onto the drinks sector, it is friday which means my social media feeds will fill up with people making cocktails. >> carlsbad has been focusing on cost controls and being more flexible to deal with that problem. they have forecast a return to growth this year, 3-5%. jeffries notes that is a pretty conservative note. they shouldn't take too much of a hit because but because the conservative note as expected. >> let's talk about cena feeding -- -- >> one of their blockbuster treatments has been for eczema and asthma. they see demand continuing. they think the gr

this is bloomberg. ♪ ext. this is bloomberg. ♪ manus: this is "bloomberg daybreak: europe." i'm manus cranny into by. -- in dubai. $29 billion of takeovers have been announced including european company in 2021. here's this week's money undercover. >> joining me is the managing director at sun european partners. thank you so much for joining us. i want to pick up work and is left off with that amazing superlative. one of the ways i find that so fascinating is despite the record deal activity, there still about $230 billion of unspent cash sitting with private equity firms. his of just an immense amount of pressure right now to spend that money? is that while we are seeing this record activity? >> i think that is partly the case. there's been a lot of dry powder around for quite a considerable time. an estimated $100 million from spac's that are increasingly charged in the european models as well as the u.s. model and it is having an impact on valuations. dani: you have people who otherwise aren't really involved in private equity doing private equity type deals. mark: in fai

this is bloomberg. haslinda: taking a look at markets asia, under pressure after that reflation trade. overnight in the u.s., good news is bad news, data coding the [indiscernible]. asx down 3/10 of 1%. back to five days of being shut, it has a raised its 2% gain. pboc ensuring liquidity in the money market in hong kong, also down .1 of 1%. all eyes on new horizon health care, currently searching. treasury yields pulling back from the one year high, at 1.33% . questioning how high it can climb before spoiling risk rally. the china 10-year rising to 2.28%, and in the commodities market, crude closed $62 a barrel. brent above $65. the energy crisis continues in the u.s. and gold up by .4 of 1% at 1782 right now. rishaad: copper futures in gold the topic of our next conversation in australia where oz minerals came out. four year profit rose because of higher gold volume. let's get over to adelaide and speak to the ceo. thank you for joining us. copper prices up 50%, gold up in the middle of last year. tell

on bloomberg radio, on bloomberg tv, this is bloomberg surveillance. karina: with the first word news, i'm karina mitchell. the energy crisis crippling the texas power system keep spreading. almost 5 million people have been plunged into darkness. authorities are fighting to avoid a total collapse of the grid. businesses from north dakota to texas are losing power in the middle of an unprecedented deep-freeze. blackouts will continue throughout the day. on capitol hill, democrats are turning their attention back to president biden's priorities. they want to push through the $1.9 billion stimulus package and get the last of his cabinet confirmed. the president is unlikely to get anything he wants in the bill. at least as good democratic senators oppose the $15 federal minimum wage. coronavirus cases and hospitalizations are dropping dramatically across the u.s. that suggests measures to stop transmission are working. almost 12% have received at least one dose of the vaccine. data gathered from mobile phones suggests people are being more cautious. goldm

this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm on a quinn in new york, alongside amanda lying in to month -- in toronto. u.s. continues to face stubbornly high unemployment. payrolls increasing by 49,000 in january, well below expectations. men have bit -- have been -- women have been hit especially hard. julia beck, bloomberg opinion columnist and founder of the it's working project joins us to discuss. julia, you have some familiarity with the former boston mayor and incoming labor secretary, marty walsh? we learned he is leaving his post with a 69% approval rating. you say he is going to be particularly good. can you tell us why? julia: i think so. he should be confirmed on the 11th. he has a great reputation for having an open mind and surrounding himself with individuals who know more about subject matter than he might. that really was clear in the area of women in boston. he brought initiatives to light that were brought to him by individuals who really had a feel for where the holes were, the weaknesses were. an example

this is bloomberg. >> silver taking center stage in the regional -- the retail investor frenzy sweeping through the markets. first of all, is it really the red crowd? if you look at how different this is to gamestop, it is much less obvious. money managers have a net long position on this since mid-2019. i don't know if we have any. -- eddie. i'm not sure if we can hear eddie. let's go back to what we are seeing in the markets overall and we will look at silver futures a little bit more. i guess the concern is that there is a lot of media reporting this is linked to read it. the parallels are less obvious. joining us also this morning is patrick armstrong. great to have you this morning. can we really make parallels between silver and gamestop? >> you can make parallels because it is being discussed on reddit, but it is not the same dynamic that was so successful with gamestop. there is a limited free flow. it is much more liquid. on the futures market, investors are net long on silver. on the futures s

this is bloomberg. tom? tom: this march what we have done is try to bring you the best worldwide on this horrific virus. the story is simple. in america the story is not one, but does covariants that are the full attention of medical professionals in america. the conversation always goes back to the most qualified person in south africa to speak on this. years ago he was at king edward's hospital. it was the black hospital and he was in pharmacology. more than anyone in south africa he has firsthand knowledge the heritage south africa has. francine: we are delighted. he was finance minister. we are delighted to have the cabinet minister, south african minister for public enterprises joining us today. thank you for being on bloomberg surveillance. a lot of questions about reopening the economy and how south africa deals with the virus, and then i want to specifically talk about the privatizations that could go on and some of the specific companies under your control. when you look at south africa right now, w

a simulcast, bloomberg radio and bloomberg television. we say good morning to you. what's going on in the markets. red and green on the screen. a little better than when we started this simulcast two hours ago. a big conversation coming up on the dynamics of the market. we will pause here. you mentioned the other day the sad death of arne sorenson at marriott, a friend of ours. it terrible battle with cancer. bill marriott at 88 looks forward to new leadership. jonathan: it will be a veteran of the company, who joined back in 1995. before this role, he was the group development -- he was head of the group of development design. tom: this is basically a hotel lifer, and it is the marriott way to train a man and build him out as he takes over from mr. sorensen in a difficult and challenging time. let's move onto the markets. what do you find interesting here as we start the morning? jonathan: the commodity rally has been the big story over the last few months. it is crude, too. we had a little bit of capitulation from bank of america, who are now looking at this to to

this is bloomberg. ♪ ♪ anna: welcome back to "bloomberg markets: european open" chair on bloomberg tv half an hour into a trading session that is increasingly mixed. the ftse 100 moves a little higher, as does the cac. if we look at the sectors on the move, you will have a better understanding of wha we hav that picture for you. travel and leisure up by about 1.4%. we have seen some anecdotal talk of people booking for the holidays. energy stocks up by 1.3%, so that of course plays in london's favor. the lagging u.k. markets are starting to show signs of life. this is talking about equity markets. with a new reopening roadmap in hand, positive news flow is reigniting the bullish case for british assets. joining us to discuss is dani burger. after being one of the least left developed markets for such a long time, what is the bullish case for u.k. assets? dani: i love this piece on the terminal from yesterday. the u.k. has had horrible dealings as of late between how it handled the covid crisis and brexit, which is on a net basis bad for the economy. it's hard to argue with this vaccin

this is bloomberg. francine? francine: leigh-ann, thank you so much. literally the story that keeps giving. and actually, that gentleman has spoken to some of our male anchors. president joe biden and president xi jinping has spoken for the first time since biden entered the white house. they spoke about unfair economic practices as well as human rights abuses in hong kong. for more on all of us, we are joined by our senior editor, derek wallbank. by all accounts, how much tougher will biden be on china than president trump? derek: well, you can expect a tougher alignment on human rights issues, on shenzhen, on hong kong. you can expect him to speak of more than donald trump did, but in a lot of places, you are going to actually see biden taking some of the trunk line and continuing it. taiwan is an interesting thing there. biden brought up taiwan in his call with xi, and there was a taiwanese senior official who went to the biden inauguration. you can see some of those things, and biden brought up taiwan in the

this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open, 30 minutes away from the start of cash trading across europe. and in the u.k., you can see we have futures gaining, your stoxx 50 futures up .6%, s&p futures in the u.s. gaining .03%. optimism about joe biden's stem this bill making its way through equity indexes once again. we can see brent crude is also rising, .9% to $59.80 a barrel. let's get to bloomberg business flash with laura wright. laura: elliott's management is reporting to raise $1 billion for a spac or blank check company. according to dow jones, the hedge fund could be looking for a company worth in the double-digit billions. special acquisition companies, once an obscure investment vehicle, raised $80 billion in exchanges last year. france's finance ministers has any takeover must be friendly. it follows the court's decision they have to defend the hostile takeover attempt of its rival. the earlier made an offer to shareholders after being rebuffed by the company's management. sue has offered

this is bloomberg. ♪ ♪ matt: welcome back to "bloomberg markets: european open." we are just about 40 minutes away from the start of cash trading. not a lot of indication in terms of futures. we are not seeing very much happen right now but maybe it will move a little bit as we get closer to the kickoff here. we have had a lot good earnings news out of especially banks. barclays i think's shines here. it has announced a 700 million pound share buyback. the british lender's fourth-quarter results beat estimates thanks to strong results from its investment banking unit. the division is a key part of jes staley's strategy. we are joined now by jes to talk more about these earnings. thanks for joining us. let me ask you how trading has kicked off in the first quarter. we are deep into it now. you obviously did well in the last quarter. what does it look like right now? jes: as you know, i cannot speak to the first quarter itself, but let me just make two points. as you noted, the diversified model we have of an investment bank and strong consumer franchise i think sho

this is bloomberg. ♪ ritika: this is "bloomberg surveillance." it is the biggest internet ipo since uber. shares of kuaishou technology rose 161 percent. the company operates one of china's popular short video services. it brought in $400 in attracted hundreds of billions of dollars of orders. there is speculation that apple is seeking to develop its own electric car according to the wall street journal, kia motors is talking about a plan to assemble and apple designed car. japan's newspaper says that apple is an talk with six lawmakers. shares of gamestop are bouncing back. the retailer sells 42% yesterday, pushing it to collapse past 80%. retail trail -- traders using twitter and reddit are moving on to other sectors of the stock market such as small drugs developers. tom: equities and bonds, currencies and commodities. once we get closer to 930, and i would want that to make a move with dow futures up 120 or 168. a persistent left that we see in equity markets. 10-year yeild 1.15%. brent crude up $160 -- $60 a barrel. gold under $1800 and see

this is bloomberg. francine: thank you so much. stay with "bloomberg surveillance." this hour, we have two exclusive interviews you don't want to miss. we will speak to the latest former bank chief executive that wants to set up a spac, the former unicredit chief executive jean pierre mustier. first, we speak to the former italian prime minister and eu commissioner for the economy, coming up shortly and we will talk draghi and the euro area economy. this is bloomberg. ♪ francine: economics, policy, finance. this is "bloomberg surveillance ." i'm francine lacqua in london. the x unicredit chief executive jean pierre mustier plans to raise funds for a spac, the latest former top banker to take advantage of the trends for blank check vehicles. joining us to discuss is dani burger. we had an interesting interview with someone from bridge point that said he knew more people that were starting spac stem had covid. jokes aside -- spac's then had covid. jokes aside? dani: we've seen $40 billion worth of spac's come in 2021, half of what we had so far. part of that is it is

this is bloomberg. ♪ ritika: this is "bloomberg surveillance." paypal says consumers lock to it site in the final months of the year started to use the company's wallet to buy and sell cryptocurrency. paypal added a record 72.7 million active accounts last year. fourth-quarter revenue beat estimates. ebay is gaining customers in the midst of an e-commerce boom. the online marketplace gave revenue for the current period that beat estimates. pandemic wary shoppers have turned to ebay and amazon to avoid going to stores. ebay says the number of customers rose 7% in the last quarter. the world's largest watchmaker is -- warned it is struggling to meet the market, another sign of the shortage with remote work and surging demands for computers and car buying as people avoid public transport. all of that has led to automakers to boost chip buying. that is the bloomberg business flash. francine: the bank of england prepares to release its latest rate decision and a report that could push below zero. evan, thank you so much for staying -- adam, thank you

this is "bloomberg surveillance," live on bloomberg television. with equity futures slightly negative on the s&p 500, we spent last week wondering we could break 120 on a 10 year, one 33 overnight. tom: we are at 129 right now. all sorts of movements in the market and the conversation we will have today really addresses these markets. i'm thrilled our guests join us. the one number for global wall street is the vix at 21.61. that is not normal. jonathan: looking forward to that conversation later. lisa abramowicz, with a yield north of 0%, how do you see about where we have been over the last 12 months? lisa: and we talked about the selloff overnight. we have seen yields higher around the world as people start to price in the unleashing of the consumption. jonathan: you know what that was 12 months ago? -50 plus basis. what a turnaround. tom: it has been a turnaround and really underreported. it's a great assumption of europe and the vaccination story. but this is really a note to see switzer -- switzerland long-duration and germany long duration,

this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures down 0.75%. yields higher by four basis points. tom: looking at the bloomberg terminal, good morning on radio and television, it is simple. the 10 year yield spikes up. we are not up to the 1.39% highs of the day, but we have gone from under 1.36% will over 1.37% in the matter of a cup of coffee. jonathan: this week, it is going to be the fed speak and how they respond to what we have seen in this market. tom: we are on the same page -- rarely are we on the same page like we are now. it is about the tins 30's curves -- the tens-30's curve, to see if you get a steepening. lisa: if you look at the fives- 30's, it has reached the highest point since 2014. i'm not correcting you, i am just explaining what i am saying. tom: it is like a marriage, explaining. [laughter] lisa: is there something you would like to say, tom? tom: there's nothing i'd like to say. . i'm taking a walk. lisa: this reflation trade is based

for amber kanwar and matt miller, this is bloomberg. ♪ s is bloomberg. ♪ >> i'm mark crumpton with bloomberg's first word news. an encouraging sign for new york city as the city's middle schools reopen to students for in-person learning. officials say city schools have a positive covid-19 test rate of less than 1%. the nation's largest public school system has administered about 500,000 covid-19 tests. and more than 30,000 teachers have been vaccinated. the mayor said today, quote, new york public schools are the safest place to be. health officials in it -- health officials in britain say the country's covid-19 alert levels should move down from the highest level because hospitalizations have decreased. the coronavirus alert level was raised the highest last month when a third national lockdown was anoupsd amid skyrocketing cases and hospital admissions. but the spread of infection has slowed down partly because of britain's vaccination program. more than 18 million people in the u.k. have received at least one vaccine dose. israel is passing a major threshold as its rapid coronavirus vaccina

in a bloomberg survey. clients were reported in food and drink and at department stores although sales did rise in supermarkets, electronics, and autos. 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 am karina mitchell. this is bloomberg. back to you. haidi: let's turn to alibaba reporting a big third quarter with a 37% jump in revenue, but china's most famous tech firm facing nervous investors under a regulatory crack down on jack ma's ant group. his fall from grace is casting a shadow over the future. let's discuss this with capital cio's rocks over. -- brock silver. alibaba is fighting over a number of things as well. give us your take on the state of affairs without all the regulatory scrutiny. >> the $5 billion bond offering is back on. there's a lot of good news for alibaba right now. third quarter results were actually really strong. overall revenue, 37% up. at income, 52%. the good news has spread acros

this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network. sure thing! and with fast nationwide 5g included at no extra cost. we've got you covered. so join the carrier rated #1 in customer satisfaction. and get a new samsung galaxy starting at $17 a month. learn more at xfinitymobile.com or visit your local xfinity store today. anna: welcome back to the european market open. 45 minutes from the start of equity trading in europe and futures point to the upside for the global rally in risk assets. a part of this to do with the reflation trade that appears to be back, with the reddit rumble out of the way. cyclical stocks are retracing some of their weakness against defensive's. u.s. inflation expectations have moved higher and the yield curve is at its deepest since 2016. let's put this into context and get an fx perspective. chris turner, head of

this is bloomberg. ♪ tom: bloomberg surveillance, good morning everyone. equity lift up 16, dow up 54 points. 24.43 on the vix. stronger dollar. you see that with euro beginning to test 19 -- 1.19. gamestop, lift off 90 up to the 100 level. amazon unsure of the bezos announcement. amc churning there single digits. silver testing new lows. jay powell and robinhood next. ♪ tom: stocks find a continued bid. amid higher yield, the weak dollar bet is in retreat. the gamestop squeeze is in continue to treat. whatever it takes to salvage italy. draghi to the rescue. the economy is depressed at 20 plus years and it is without question the most robust return on capital in modern business history. jeff bezos on invention first and then shareholder return. amazon employees 1.3 million bodies. good morning everyone, this is bloomberg surveillance. i guess we are waiting for a draghi appearance, we saw this with mr. monty, some guests have said it's not a redux of the technocracy, if that's not the case, what is it we are witnessing?

this is bloomberg. ♪ >> it is simply unacceptable at this point for people to be without power. >> one of the problems is our system is an isolated system. >> we are going to have to take a stronger look at who is allowed priority on our grid system. renewable energy has that priority, which is discouraging our reliable energy source, which seems to be more natural gas, fossil fuel related. >> this is a reminder for a wake-up call in saying we absolutely need fossil fuels in the mix. >> it is a temporary thing and hopefully they get things back to normal soon, but it does disrupt oil markets, especially that region. matt: reaction to the ongoing energy crisis, a weather crisis causing an energy crisis in the u.s. it is a deep freeze that could persist several days, with total u.s. oil production plunging by a third, the biggest drop on record. joining us is our energy reporter. how big an impact is this cold snap having on the u.s. oil and gas industry? what kind of drops are we seeing? >> it is having a

this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. in markets, there is always something to worry about. there's always a shark close to the boat, a tidal wave on the horizon. 12 months ago, what were we worrying about? the pandemic, shut down, the economy never recovering. 12 months later, what are we worried about? the economy overheated. we will always find something. tom: a number of equity strategists, including our wonderful guests coming up, have that idea. do we have a true rotation, or a catch up from the gloom we have had of the last year? to me, it is one big, normal, healthy catch up. i have trouble being gloomy would you give me a 6% statistic. jonathan: the embodiment of the gloom come of pendulum swinging to the world is going to end, allow me to present to you -- [laughter] lisa abramowicz. lisa: there is a fair question though. are we moving to a paradigm a faster inflation? what does that mean for the federal reserve if it does not see that reality on the h

this is bloomberg. ♪ ♪ emily: -- >> this is bloomberg technology. some of the biggest tech companies often under antitrust acquisition -- scrutiny. plus, social capital founder and ceo is known for

this is bloomberg. haidi: checking in on some movers in the early part of the sydney session, what are you seeing? sophie: we are seeing some movers to the upside on earnings momentum. education rallying more than 11%, hitting a fresh all-time high on the back of its results. has been under pressure by nearly 5% by posting improving earnings and that growth will increase up to 20% year on year, as projects are coming back online. costa group rallying. goldman with 55%, saying they see an improved outlook across key categories. crown resorts under pressure for a third straight day, as western australia's regulators have banned the crown casino from dissipating in junkets -- participating in junkets. shery: we will have plenty of big interviews coming up this week to discuss the results coming out of australia. the quantum group ceo join us thursday on daybreak asia. coming up next, jerome powell doses part two reassure market, but will it feed through into the e.m. space? and a big test for one of wall s

this is bloomberg. ♪♪ matt: welcome back to bloomberg market the. this is the european open. 50 minutes away from the start of cash trading. we are looking at red across the board. after the u.s. hit new records in equities yesterday, but asian trading is sparse due to the lunar new year holiday. to laura wright. >> happy friday. house prosecutors have concluded their case for quicking donald trump in the senate impeachment trial. they say they have proven the former president is guilty of inciting insurrection when supporters attacked the capitol to prevent a peaceful transfer of power. italy's drawingy has won broad support in his effort to form a new government. the biggest part of the parliament put its weight behind him. the prime minister designate is expected to report back to the president with his picks for the cabinet. the "new york times" is reporting that former president donald trump was sicker with covid-19 than was publicly acknowledged. he had extremely depressed blood oxygen levels and a blood problem associated with pneumonia. glob

this is bloomberg. ♪ kailey: this is bloomberg -- >> this is bloomberg surveillance: early edition. coming up, more -- ellen zentner. this is bloomberg. >> securities put the restrictions in place in an effort to reach regulatory deposit requirements, not help hedge funds. we do not answer to hedge funds. we serve millions of small investors who use every day -- we use our platform every day to invest. >> we had no call in the decision to limit trading in game stock or the other meme stocks. i learned the trading structures after they were publicly announced. francine: it was must watch tv. i really enjoyed watching it. the main characters after january's unprecedented retail trading face lawmakers. two bring up -- to bring us everything we needed, we have one of our reporters. robinhood almost apologized and what he actually trade just change anything? >> the entire business model of free trading did come under attack yesterday, particularly by alexandria ocasio-cortez, but at the same time many representatives asked about whether the clients are not paying, are they the product? a

this is bloomberg. ♪ matt: welcome back to "bloomberg markets." we are 40 minutes into the session right now and we are looking at equity indexes that are mixed. but, we do see the broader stoxx 600 down right now. if you take a look at the industry groups inside of that, you can see energy is the biggest gainer. in fact, some of the mix has to do with that. brent crude is up, total is up, and as a result, one of the few gainers that we see across europe right now. the ftse is also slightly positive. the dax is down and the ibex is down as well. now, let's go from that, with no transition at all, to u.s. politics. the second impeachment trial of donald trump begins today after senate leaders agreed a rapid timetable. the former president is charged with inciting insurrection. joining us to discuss further is american enterprise institute's resident fellow. elizabeth, i was reading an interesting piece this morning. i think it was on bloomberg.com. about the start of this really being the militia moving into the michigan state house. has this been

this is bloomberg. ♪ ♪ vonnie: you are watching "bloomberg daybreak: australia." factories and businesses closed ring that lunar new year holiday and virus restrictions curbs that usually frenetic travel season. a nine-month low as export orders plunged lower than the median estimates of 51. . nonmanufacturing gauge also missed forecasts. five republican senators warren president biden to keep away from a new nuclear deal with iran, joining some democrats and voicing concerns. they have written to the president saying that 2015 accordance riddled with problems. with unrealistic timelines. russian critic alexei navalny has been removed from moscow to a penal colony feared by its own inmates. he was detained last month accused of by letting crawl restrictions from 2014 and is reported to be in a prison in the vladimir region 100 columbus east of the russian capital. former inmates say prisoners are subject to constant intimidation and isolation. warren buffett is accused of a tone deaf response in his latest annual letter to shareholders. the 15 page letter barely m