stanley morgan stanleys head of emerging markets and chief global strategist right sure sharma publisher reported to have a white crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters natural on a global pandemic cryptocurrency is are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value. so these are this is what we've been saying like the big crime it's a black hole that sucking in all these markets a stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early but quinn proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market fr

stanley morgan stanley's head of emerging markets and chief global strategist rush or sharma publisher reported to have a white crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters national and global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are this is what we've been saying like the big crime is a black hole that sucking in all these markets a stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early but quinn proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market from

stanley morgan stanleys head of emerging markets and chief global strategist right sure sharma publisher reported to have a wide crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters natural on a global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are. this is what we've been saying like. it's a black hole that sucking in all these markets a stocking in store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market from using your you

stanley morgan stanley's head of emerging markets and chief global strategist right sure sharma publisher reported to have a wide crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters natural on a global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are this is what we've been saying like. it's a black hole that sucking in all these markets a stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market from using your you

stanley morgan stanley's head of emerging markets and chief global strategist right sure sharma publisher reported to have a white crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters national and global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold i.e. is store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value. so these are this is what we've been saying like. it's a black hole that sucking in all these markets a stocking in store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market from using

stanley morgan stanleys head of emerging markets and chief global strategist right sure sharma publisher reported to have a white crypto is coming out of the shadows on the morgan stanley website last week quote despite the jitters natural on a global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are this is what we've been saying like. it's a black hole that sucking in all these markets as stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the market from using your y

stanley morgan stanley's head of emerging markets and chief global strategist. right sure sharma publisher reported to have a white crypto is coming out of the shadows on the morgan stanley web site last week quote despite the jitters national and global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are this is what we've been saying like the big crime is a black hole that sucking in all these markets a stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop parti

michael cushman, morgan stanley -- michael kushma, morgan stanley global cio. tom: i keep a positive swiss yield, 20 years with yield to kate's some of that german move as well -- 20 years wi -- 20 year swiss yield indicates some of that german move as well. jonathan: corporations can come to this market, funds themselves cheaply, and so long as that remains the story, they will be comfortable with it. tom: if italy did the bond deal they did 20 days ago, the issue would be record issuance. lisa: that is true, except there is a distinction. i keep going back to borrowing costs and valuations, which have hinged on yields remaining in a certain place. at what point does that valuation equation start to weigh on some of the highest flying names, and how much can we get if bitcoin and the tesla selloff without affecting larger markets? we are talking about some of the concentrated bets on these names together. what happens with the leverage if that starts getting pushed out with a violent move up? jonathan: what is the qe right right now, $120 billion? where are ra

we had ellen's and her of morgan stanley -- ellen zentner of morgan stanley come on and talk about 2% growth. krishna: it is probably somewhere between 2% and 3% for 2022, is what my view is. the reason is savings rates are high, and given what we have gone through, and considering the current level of stimulus as income replacement that gets saved, it will provide a higher trend growth outlook for the next few years, but that outlook is not going to be a couple of percentage points. it is probably going to be maybe 0.5% or 0.75 percent, rather than 2% or 3% that people may be expecting. things haven't changed that dramatically, other than the fact that when we were losing income, we replaced people's income. tom: when does the bond market click in for bonds? right now, the bloomberg total return index, the aggregate index is down about 2% from the august highs. a 2% loss in that blended on portfolio. we talk about bear markets and equity, but never bonds. what percent down is a bear market for you in bonds? krishna: bear markets, if you look at the history of that series, it is very

investment banks morgan stanley and j.p. morgan are said to be interested well no one the central banks around the world pricking up there isn't trying to follow suit in fact digital currencies it seems are the next big thing china has started large scale trials on the one this year instead of little red paper envelopes in beijing those were given cash in digital form full moon a new year presence on this model phones china is pushing hard for a digital one it's electronic currency may have a big impact on the global economy europe and the u.s. is also looking at central bank of digital currency what are these new payment forms and why are central banks creating them. well that's what i'm going to ask the correspondent now. good morning to you so let's let's stay in the region a lot of asian countries including cambodia cetera then out experimenting with digital currencies which one of those do you think has the biggest potential. it's definitely china since last april beijing has conducted this internal closed the pilot tes

>> goldman sachs, morgan stanley. i'm enjoying a strong 11% return with goldman sachs i've talked frequently about assets the gathering, the trading, and pricing of assets. gave my final price the other day. asset managers trading very strong right now look at a name like a&g up 14% today. that stock has been trading for the last couple of years in a very dormant capacity. i think you could look at some of the insurance companies whether it's metropolitan life or aig, and on the research side of the financial services industry, i know you used fax it a name that i like s&p globals and moody's as well. >> looking at fax it right now i'm glad you gave that disclaimer out there the other part of the value trade debt that's doing pretty well, especially today and as of late, not to shortchange it, is crude oil. wti is pushing towards $60 $58. better than 2% gain. bryn, you're the one down in houston and your portfolio is representing big time down in big texas. western midstream partners, wes, if you want to look at the t

francine: andrew sheets from morgan stanley joining us today. coming up, our interview with the novo nordisk chief executive. that is coming up shortly, and this is bloomberg. ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua, here in london. shares in novo nordisk higher this morning, that's after the danish tech giant said operating profits may rise as much as 8% at thompson exchange rates in the current financial year. gains are being driven by novo nordisk's portfolio, and a diabetes drug. we are delighted to be joined by the chief executive of novo nordisk. you mentioned that novo is interested in broadening the areas of -- adding this into what to you -- to what you do. what do you think about this specifically? >> we have a very strong platform in our product which is being used in diabetes and also obesity come and there is an opportunity to broaden this out into areas. we are pursuing a strategy of using known technologies and -- into these areas where we can gradually build a stronger pla

contrast the fed with morgan stanley. tom: the gap is this wide, and as you mentioned there are speeches next week. there will be a sentence here and there. jonathan: how do we navigate the fed speak when you start to get the cracks, not from the governors or the core who we hear from, but from the presidents who start to look around and see better growth? ellen: i think we will see more of them speaking out and speaking their mind, but they will temper it. it will be very obvious that they are seeing better growth, but it is going to be obvious to them that there is uncertainty around how the vaccine rollout will progress and if there will be hiccups. the cloud of covid will be thinning into the middle of the year. but, we will still be under it. so, they will acknowledge the better growth, we are just not there on the labor market. they have a lot of cover here to explain that we are still not anywhere near that significant improvement that they say they are looking for. that applies to rate hikes, and for some of them

he is going to morgan stanley. at least one firm, morgan stanley probably other people. if you talk to cohen's people, there is no coincidence. guess what, it's a good time to take advantage of the situation. steve cohen always makes money when the going gets tough. that is true. talk to others timing is interested. he went to morgan stanley on tuesday. on monday he added more money to melvin $250 million. n january, this month he is down 10, 15%. the reason why he has exposure to melvin as you know is down 53% because of the short squeeze led by reddit robinhood traders. point 72 is having a meeting with morgan stanleys fund advisors where advisors can ask about the investment. from what i understand, sources tell me a 100 million-dollar sliver they opened. it is good until march. one other thing, neil, people are forgetting gamestop will have a earnings call by the end of march, march 25th. it will be fascinating to hear their earnings. some of this stuff will play out. not only will we talk about stock there, their stock's wild ride, reddit traders talking about it, i

morgan stanley is seeing big bumps for emerging stocks. why is that. sophie: they are saying, watch out, with jonathan garner in the equities team outlining a reasons as to why the msci index may have hit a peak already, one year after it hit it hit your on target last week. according to the correction, they have been underway in accelerated by what we are seeing in china. also putting to the potential of china's free liquidity indicator to turn negative later this year. plus, when it comes to treasury breakeven, levels could indicate a peak for reopening and reflation to that cyclical trade and asset global valuation that were helped along by the central bank support we have seen. we have seen morgan stanley expecting we will see the balance sheet growth fall to single digits in 2022. the dollar is a very essential to that e.m. story. that recent rebound is faltering. the greenback has already hit the low for the year. it is hitting a turning point while record inflows into asian e.m. funds may signal a market top. on the earnings front, revisions thr

morgan stanley may add bitcoin to its list of possible bets. to discuss, we are joined by olivia ramon. thank you for joining us. talk to us about the recent surge here. the question everybody keeps asking, is it going to last? olivia: thank you for having me. that is a great question. the $50,000 milestone is something industry participants have been watching very closely. and it has been considered as a significant milestone that industry disciplines are hoping to reach that would indicate a wider, mainstream adoption like we saw with elon musk and tesla and morgan stanley, like you just said. but they are not the only ones. microstrategy has been adding bitcoin to their balance sheet since last year. bny mellon recently made announcements it is developing a team to help with the digital asset. mastercard will begin to allow cardholders to transact in certain cryptocurrencies on its network. there are a lot of different institutional adopters that are all of a sudden flooding into the crypto space. emily: i will be interviewing the ceo of mic

we are morgan stanley. we see breakthrough medicines getting to patients in record time. at emerson, our automation software is empowering pharmaceutical companies to accelerate their production of critical vaccinations for the world. emerson. consider it solved. >>> welcome back to "fast money. we got a buzz kill on virgin galactic after delaying for a second time a space flight test that was scheduled for this weekend, the company saying it needs more time tests originally scheduled for september but had technical issues there steve, you've been a long-time believer in this one now what >> i've owned this one at about $15 or so. this one is over a tremendous amount even over its old high which is around $42. for me, i'm really not that encouraged and disappointed by the lack of communication by the company. so i'm staying in this one i think they have a couple of levers to pull but it's pointless if they can't get this thing off the ground they should have done it syrian and should have communicated it a lot better i'm in it for a little longer until they show some sign

february 8th and over the weekend, bloomberg reported morgan stanley may addtites list of possible bets to discuss. olivia, thank you so much for joining us. talk to us about the recent surge here. the question everybody keeps asking is right, but is it going to last? >> hi, and thank you for having me. and yes, that's a great question. the 50k milestone i think is something that industry participants have been watching very closely, and it has been considered as a significant milestone that industry participants were hoping to reach that would indicate a wider mainstream adoption, like we saw with elon musk and tesla and morgan stanley, like you just said, but they aren't the only ones. microstrategies, for example, has been adding bitcoin to their balance sheet since last year, and bny melon recently made announcements that it's developing a team to help with digital assets and mastercard has said it's going to begin to allow card holders to transact in certain cryptocurrencies on its network. so there are lots of different institutional daughters that are all of a sudden flooding int

stanley report that everybody is talking about the morgan stanley report about bitcoin as a replacement for the u.s. dollar and how it's succeeding in doing that oh that's great i can hardly wait i've got my flame throwers ready to go right because we are talking to dan collins who's an expert on the china u.s. trade relationship this is a perfect time to discuss what we're going to be discussing here and that is the shortages and those crucial chip shortages a semiconductor is right us to explore immediate actions to address chip shortage says the nikkei and this was 1st squawk tweeting about it and they were talking about well you know there's loads of production shutting down for automobiles and things like that because there's an actual shortage of semiconductors i guess partly because of the supply shortages that are emerging due to covert restrictions at many manufacturers and on top of that we have a lot of demand because if you think about it t s m c is the biggest one of these that taiwan semiconductor manufacturing corporation and they are almost the sole provider to a 6 for t

stanley report that everybody is talking about the morgan stanley report about bitcoin as a replacement for the u.s. dollar and how it's succeeding in doing that oh that's great i can hardly wait i've got my flame throwers ready to go right but because we are talking to dan collins who's an expert on the china u.s. trade relationship this is a perfect time to discuss what we're going to be discussing here and that is the shortages and those crucial chip shortages a semiconductor is right us to explore immediate actions to address chip shortage says the nikkei and this was 1st squawk tweeting about it and they were talking about well you know there's loads of production shutting down for automobiles and things like that because there's an actual shortage of semiconductors i guess partly because of the supply shortages that are emerging due to covert restrictions at many manufacturers and on top of that we have a lot of demand because if you think about it t s m c is the biggest one of these that taiwan semiconductor manufacturing corporation and they are.

knows are the big guys, jpmorgan, morgan stanley. 1 1/2 billion in assets under management if not for the big five, who do you like, dory? >> how are you today. liz: good, thank you. >> confidences rolls back into the sector which it clearly has in late fall, it starts in the big banks. the big banks are trading very nice. then it starts as the confidence grows it starts to move into smaller areas. however some of real estate, some real estate issues play out in the sector. it will start to show up. so i think it's a good time to hang out in some higher quality, smaller names where i can get a higher dividend than the bigger banks, have less risk because the bigger banks have more forward. liz: let me just say you like cme group, you like cullen frost and why these names along with united bank shares? is there a common thread? we have about 30 seconds left before the bell? >> risk they are cycle tested. get a nice 3 to 4% dividend. comerica bank is probably best middle market lender in the country. very sensitive to rising rates. all three of those should work really well over the nex

[indiscernible] haslinda: deyi tan, asia economist at morgan stanley. we have some lines from reuters saying the myanmar army. at the tensions due to -- the myanmar army carried out detentions due to election fraud. myanmar military has taken controlled the country for one y ear, according to the associated press. this is on the back of the latest developments in myanmar. other top leaders have been detained and arrayed -- in a ra id early this morning. reuters reporting the myanmar army carried out detentions due to election fraud. the military has taken control of the country for one year. plenty more to come. this is bloomberg. ♪ s is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines

stanley report that everybody is talking about the morgan stanley report about bitcoin as a replacement for the u.s. dollar and how it's succeeding in doing that oh that's great i can hardly wait i've got my flame throwers ready to go right because we are talking to dan collins who's an expert on the china u.s. trade relationship this is a perfect time to discuss what we're going to be discussing here and that is the shortages and those crucial chip shortages a semiconductor is right us to explore immediate actions to address chip shortage says the nikkei and this was 1st squawk tweeting about it and they were talking about well you know there's loads of production shutting down for automobiles and things like that because there's an actual shortage of semiconductors i guess partly because of the supply shortages that are emerging due to covert restrictions at many manufacturers and on top of that we have a lot of demand because if you think about it t s m c is the biggest one of these that taiwan semiconductor manufacturing corporation and they are almost the sole provider to a 6 for t

stanley is out with a report saying that the other major banks are saying that it is. big coin has displaced gold for their younger clients their same survey a generational shift i know also over there black rock they're saying a lot of money flows out of gold and to pick cotton. last episode even last year this was heresy to say that they coen what 8 gold and yet here we are in 21 and gold is trading quite poorly because it of course skyrocketing the all time highs what's going on there match morgan stanley's mention in most of the banks you've mentioned about commodities i mean commodities everybody thinks commodities are going to be a boon for the rest of the next couple of years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when it going was below 20000 i told yo

stanley is out with a report saying that the other major banks are saying that it is. bitcoin has displaced gold for their younger clients there seems to be a generational shift i know also over there a black rock they're saying a lot of money flows out of gold and typically. a last episode even last year this was heresy to say that because it beat gold and yet here we are in 2021 and gold is trading quite poorly because of course skyrocketing that all time highs what's going on there bets morgan stanley's mentioned in most of the banks you've mentioned about commodities i mean commodities everybody thinks commodities are going to be a boon for the rest of the next couple years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when bitcoin was below 20000 i told you to b

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we are morgan stanley. we're carvana, the company inwho inventeds car vending machines and buying a car 100% online. now we've created a brand-new way for you to sell your car. whether it's a year old or a few years old. we wanna buy your car. so go to carvana and enter your license plate answer a few questions. and our techno wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you, pay you on the spot and pick up your car, that's it. so ditch the old way of selling your car, and say hello to the new way at carvana. >>> good afternoon, everybody. welcome to "power lunch" for a friday morgan brennan will join us in a minute's time or so. we're following big money today and where wealthy investors are placing their bets now and why there's a global shortage, and later, a blooming business 1-800-flowers, the stock doubling in the past year. "power lunch" starts right now >>> good afternoon let's begin with the markets all three major averagin

stanley report that everybody is talking about the morgan stanley report about bitcoin as a replacement for the u.s. dollar and how it's succeeding in doing that oh that's great i can hardly wait i've got my flame throwers ready to go right but because we are talking to dan collins who's an expert on the china u.s. trade relationship this is a perfect time to discuss what we're going to be discussing here and that is the shortages and those crucial chip shortages a semiconductors right us to explore immediate actions to address chip shortage says the nikkei and this was 1st squawk tweeting about it and they were talking about well you know there is loads of production shutting down for automobiles and things like that because there's an actual shortage of semiconductors i guess partly because of the supply shortages that are emerging due to covert restrictions at many manufacturers and on top of that we have a lot of demands because if you think about it t s m c is the biggest one of these that taiwan semiconductor manufacturing corporation and they are almost the sole provider to a 6 f

stanley report that everybody is talking about the morgan stanley report about bitcoin as a replacement for the u.s. dollar and how it's succeeding in doing that oh that's great i can hardly wait i've got my flame throwers ready to go right because we are talking to dan collins who's an expert on the china u.s. trade relationship this is a perfect time to discuss what we're going to be discussing here and that is the shortages and those crucial chip shortages a semiconductor is right us to explore immediate actions to address chip shortage says the nikkei and this was 1st squawk tweeting about it and they were talking about well you know there is loads of production shutting down from automobiles and things like that because there's an actual shortage of semiconductors i guess partly because of the supply shortages that are emerging due to covert restrictions at many manufacturers and on top of that we have a lot of demands because if you think about it t s m c is the biggest one of these that taiwan semiconductor manufacturing corporation and they are almost the sole provider to a 6 fo

stanley is out with a report saying that the other major banks are saying that it is. bitcoin has displaced gold for their younger clients there seems to be a generational shift i know also over there at black rock they're saying a lot of money flows out of gold and typically. a last episode even last year this was heresy to say that because it beat gold and yet here we are in 2021 and gold is trading quite poorly because it of course skyrocketing the all time highs what's going on there match morgan stanleys mentioned in most of the banks have mentioned about commodities i mean commodities everybody thinks the modern needs are going to be a boon for the rest of the next couple years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when it going was below 20000 i told y

stanley is out with a report saying that the other major banks are saying that it is. bitcoin has displaced gold for their younger clients there seems to be a generational shift i know also over there black rock they're saying a lot of money flows out of gold and typically. the last episode even last year this was heresy to say that because it beat gold and yet here we are in 2021 and gold is trading quite poorly because it of course skyrocketing that all time highs what's going on there match morgan stanley's mention in most of the banks we've mentioned about commodities i mean commodities everybody thinks to monitor these are going to be a boon for the rest of the next couple years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when bitcoin was below 20000 i told yo

pradhan is the founder of an economic research firm who was the managing director at morgan stanley. he joined morgan stanley in 2005 after serving on the faculty of the george washington university and state university of new york. he specializes in quantitative economics and global economics and holds a phd in economics from the george washington university and master office of finance from the london business school. to run the show here we will be very straightforward. we will begin with a presentation on their book. doctor goodhart will begin and then doctor pradhan will conclude the presentation and following that, we will have a discussion. you are welcome to submit questions. please submit your questions on twitter using the hashtag ask aei econ. you are also welcome to e-mail and you can find that on the event webpage. with that, let me thank our distinguished panelists again for coming to talk about their book and i will turn it over to doctor goodhart. >> thank you very much indeed, michael. you've summarized the book brilliantly, better than i could so i'm going to give a

susan: you mean morgan stanley. stuart: morgan stanley, yes. susan: morgan stanley investment arm is looking to buy bitcoin according to bloomberg reporting. not 100% confirmed. they have $150 billion to spend that is a wall of cash to buy more about it coin. bitcoin is up 70% of six weeks of this trade. ether is another crip cocurrency hit a record high this weekend as well. experts say if you look at bitcoin trading this time around compared to three years ago, less frenzy, less volatile. maybe this is different, when you won't see the boom bust cycle. went down to 3,000. maybe we won't see that 80% drop again. stuart: it is always different this time. susan: i heard that. >> what about elon musk and dogecoin, what is he selling it? susan: selling biggest doge owners sell. if the major dogecoin sellers sell most of their coins, it will get my full support. too much concentration is the only real issue. imo, in my opinion. musk will literally pail people if they void their accounts. he has very deep pockets, $200 billion worth. richest man on

stanleys mentioned in most of the banks you've mentioned about commodities i mean commodities everybody thinks commodities are going to be a boon for the rest of the next couple years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when it going was below 20000 i told you to buy i was right on that one i've got a lot of good calls coming up in terms of commodities and i'm in everything other than the stock market right now because valuations are too rich they're oh right a mess fires time banks are ran on kaiser report thanks max all right and that's going to do it for this edition of kaiser report with may max keiser and stacy everett want to thank our guests farsighted plight of ponce until next time by elf . the world is driven by a dream shaped by one person. thinks . we fear him to

stanley is out with a report saying that the other major banks are saying that it is. bitcoin has displaced gold for their younger clients there seems to be a generational shift i know also over there at black rock they're saying a lot of money flows out of gold and to pick cotton. a last episode even last year this was heresy to say that because it beat gold and yet here we are in 2021 and gold is trading quite poorly because of course skyrocketing that all time highs what's going on there bets morgan stanley's mentioned in most of the banks you've mentioned about commodities i mean commodities everybody thinks commodities are going to be a boon for the rest of the next couple years and it's in the coming decade i think commodities have been massively oversold i think people should really start looking at commodities as the undervalued asset classes of the future there are a lot of assets out there that are under priced and undervalued but many stocks right now look for a big correction in the stock market last time you had me on when it going was below 20000 i told y

we are morgan stanley. we see breakthrough medicines getting to patients in record time. at emerson, our automation software is empowering pharmaceutical companies to accelerate their production of critical vaccinations for the world. emerson. consider it solved. >>> time for the futures outlook week ahead with the slew of the economic data on jeff kilberg is working to put together on projections, and jeff, take us through it. >> we have a big week ahead and it is certainly going to be interesting, because it is shortened week and only four trading days and we are seeing the earnings week wrapped up and we have had some companies reporting, but in the week of the all-time highs, i am cautious going into the week. we have data coming out and ppi and retail saez which should help us to have a better understanding of what the consumer is doing, and in the wake of the all-time highs, i want to be a sell ser of the s&p 500, and working to sell all time high, and looking to drop down to 2535 and we trade with the stops and the handle is stopped out in the event to see a new al

morgan stanley saying oil markets are set for the tightest quarter in 21 years even the rebalancing happening faster than expected. wti holding around 62 right now. cold holding steady after rebounding from a seven month low overnight. we stall the dollar faltering. -- we saw the dollar faltering. haidi: sophie kamaruddin and with a look at the market open action. we are seeing u.s. president joe biden delivering remarks on the lives lost to covid-19. and of course, this happens on a day where we have seen death of americans from covid-19 passing half a million as a result of the coronavirus. president biden making those remarks on the lives lost to covid-19. he is joined by the first lady as well as the vice president, the second gentleman all be together holding a moment of silence and a candle lighting ceremony in washington, d.c. you are seeing president biden giving some of those remarks as we mark that milestone of 500,000 american deaths. the u.s. is marking what he calls a heartbreaking milestone on covid deaths and we will continue to monitor that for you. you can continue watching i

an investment unit at morgan stanley is considering whether to bet on bitcoin. canada approved the first non-american bitcoin exchange. thank you so much for joining us. the focus is on bitcoin, close to $50,000, but how much will this be adopted by mainstream? mainstream wall street, mainstream exchanges, and is that pushing the price higher? >> i think it is what is pushing the price higher. to your point about becoming a bitcoin expert, we almost don't have a choice. everybody at the moment feels like you have to learn, because there is so much about it. it has become more accessible. you got futures contract, you got paypal on the other side. everybody can get access if they want it. francine: but does it become a systemic risk at any point? you have come on the program to talk about regulation before, but the more we adopt it as is, the more it attracts regulators. eddie: that is exactly right. as long as this is a fringe assets, only a few people are invested in it, it doesn't matter if it is hugely volatile, but if we see in the next crash that bitcoin dr

adam jones did that great people in morgan stanley. i think one of the things, carl, and i think david is right, there is a vast panoply of how things will change and much of it is uneconomic right now, and when you get the special breed hydrogen, it sun economic but it may move fast irthan we think -- faster than i think and i think the biggest companies most important are walmart and amazon and they are driving to get it so we have zero emissions, it's the customer that is pushing the truck, and mar why, mary barra making the point, and they always come up with the caveat, in the 2030s, oil will still be here and when i look at the amount of money that is coming into this group and the funding and david mentioned it earlier, yesterday, the funding is so significant, i think it is entirely possible that they can pull this off faster than people realize. >> to your point about the legacy oil, s&p did dgrade some of the oil, downgrade some of the oil majors on credit, sweeping downgrade on both ends of this candle a quick break here eng

us investment bank morgan stanley is reportedly planning to move about 100000000000 euros of assets to francs 1st other banks including goldman sachs and j.p. morgan chase have a ready relocation stop assets to the e.u. after the u.k. voted to leave the bloc london and brussels have so far failed to reach a deal on financial services. growth in the 19 countries that make up the eurozone fell 0.6 percent in the 4th quarter of last year that slightly less than expected measures in the lead up to christmas contributed to the decline overall the eurozone economy contracted by 6.8 percent in 220 our financial correspondent chelsea delaney those numbers for us. it's no surprise that we saw the eurozone economy contract in the 4th quarter in october and november is when we started to see the 2nd wave of infections really take off here in europe so many countries reenter lockdown and that dealt a big blow especially to the service sector a but we didn't see economies grind to a whole in quite the same way as they had during the 1st. of lockdowns early in 20 twentieth's of a small contraction w

also now, graham of morgan stanley. that was a good set up for emma. i wonder what part of this earnings momentum is factoring in better vaccinations than we are actually getting. graham: when we look at the earnings data, we after a member this is the fourth quarter. this is effectively what was happening at the back end of last year before the latest phase of lockdowns in europe was kicking in. the data itself is somewhat backward looking. nevertheless, we think it is pretty encouraging. your reporter mentioned guidance looks good. there seems to be a lack of transmission between some of the weaker economic data into corporate earnings, which is quite encouraging. we should remember that european companies are very global in their outlook. the weakness we have in european economies is being largely offset by the strength we are seeing in the u.s. and asia. guy: let's talk a little bit about asia. a lot of european industrials are looking at what is happening in china. is that going to show up next quarter in these european numbers. graham: what i'm h

morgan stanley is the latest catalyst saying they might get involved in the crypto space. manus: all about credibility. i think there is a cracking article in the bluebird opinion, which is dirty bitcoin, which is essentially how much energy does it take to produce bitcoin? let's reset because the vaccine narrative is something we haven't really touched on and it is important. the u.k. has recorded 15 million vaccinations against coronavirus, meeting its target to immunitie -- immunize top priority groups. it has increased pressure to ease the lockdown, start to reopen the economy, and the program has seen more than 25% of the adult population receive at least one shot. the global equities portfolio mac -- manager at newton investment. there's a lot to take on board this morning but let's start with the vaccine. successful rollout in the united kingdom. the numbers are improving in the u.s. each week as we go by. in terms of equity markets, are we so priced to perfection with the good news on vaccine rollout that it is going to be hard to expand higher on good vaccine news

tom: you have been wonderful and this goes back to your morgan stanley days. ron temple was just on and he agrees with you that these signals are constructive signals for the economy. you don't talk about a 120 10 year. explain why that is good for america. >> that is exactly right. when i looked at the forecast over the last couple of months, one thing that stood out for me was a glaring mistake, everybody had the same view. the 10 year going to end at 1.2%. we are already there. i think we are go consider -- going to go considerably higher. things are working. the economy is getting better and the price of money starts to go back up. it suggests it has big asset implications. it means the bear market in u.s. treasuries, it means tack suffers. you were talking about big tech not doing anything. rising rates and the vaccine is kryptonite for big tech. we want to think about innovation, not disruption. these are good things. these are investors looking for opportunities to get closer to the innovation and early innovation stage. we saw the model with intellectu

that is kathy entwistle of morgan stanley private wealth. coming up next, 23 and me making a deal to merge with richard branson's vg acquisitions. the ceo and to richard branson join us next. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn in new york, alongside amended blank in toronto. --amanda like in toronto. 23andme is supported by richard branson's merger group. emily chang is here with the heads of both companies. emily: thank you so much. joining me now, anne wojcicki, ceo and cofounder of 23andme, and sir richard branson, founder of virgin group. why do this rather than the traditional ipo? anne: you and i have chatted about this in the past. i've never had the glory of being a republican but in my mind. at a point into -- being a public company in my mind. at a point when the platform is ready to take off, i have learned over the last decade that one of the most important pieces of advice that i've ever gotten and i continuously give out is who your investors are matters. when we thought about how we wa

joining us is mike wilson, chief investment officer from morgan stanley. mike, good to see you as always. thanks for joining us. >> good morning, wilf. >> i saw various notes which you were calling for a correction. we had a bit of a pull back was that it? it was brief, lasted a week or so 4% peak to trough and back to records again. >> it was brief. if you blinked, you missed it. the markets are quite powerful at the moment. they have to there's tremendously quit at this very good and very understandable story behind the scenes we had a strong economic recovery earnings season is good and peopleville bought into it right now the markets are i think still in a bit of a fragile state, more fragile than people might think because people are involved. there is still leverage in the system it's not dangerous necessarily so we should expect the sort of 3 to 5% corrections at any moment that's normal. the correction in the last couple of weeks is over with highs and the bull market is in intact >> who is the marginal mover and is it the retail investor in a way

the banks like morgan stanley and goldman sachs are focused on that business and did well and outperformed any of the retail banks. so those will continue to outperform as long as the markets do well. once the markets return and stop defying the laws of gravity there is the risk of gordon -- goldman sachs and morgan stanley doing worse. that is just the way i think the u.s. banks have been more likely to take on more risk and have more volatile earnings. in a good environment that serves them well, in a bad of iron meant, that serves him -- environment, that serves them worse. guy: we are certainly saying and impact of the steep curve today. today we are up nicely, that is the one year charge. you're not at highs but we are close to them. we are going to wrap it up there. thank you very much indeed. i'm going to be talking to the bnp paribas cfo, that conversation tomorrow morning and the results will be out. again, we will talk a lot about the vague than this broader question about flat curves in europe which will be something that lars be focused on as well. it was interesting to see wha

we are morgan stanley. tonight i'll be eating a calzone from doughballs in aurora. (doorbell) rock on. tonight i'll be eating lobster thermidor au gratin. really? sh-yeah, and monkeys might fly out of my butt. make it two calzones! want to save hundreds on your wireless bill? sh-yeah, and monkeys 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. >>> good evening, we have breaking news, hopeful news tonight on the effectiveness of the two publicly available covid vaccines even against new strains of the virus. dr. anthony fauci will be here live to talk about that in a moment. first, it's anything but a good evening for millions of americans without power tonight, some without heat or running water. fo

and morgan stanley, 5% next year is punchy. tom: finally, we've got some lisa abramowicz gloom to get in there. [laughter] lisa has been crushing it. lisa: thank you. jonathan: coming up, leon cooperman, omega advisors founder and ceo. how much longer are you in that room? can we keep you there a little bit longer? futures down 15. this is bloomberg. ritika: with the first -- karina: with the first word news, i'm karina mitchell. texas is taking an extraordinary step to ensure in-state power generators have enough. some are calling it a violation of the u.s. constitution commerce clause. the crisis is now in its fourth day. several million texans are still without electricity. president biden is about to launch what may be one of his toughest legislative challenges. his immigration reform bill will be unveiled in congress today. it includes a path to citizenship for 11 million immigrants living illegally in the u.s. there are also calls for more technology to secure the border with mexico. the president had his first call with

rbc, morgan stanley have all said the same thing, this is not a story everyone is allocated to and there is still more money. do you have visibility on the same story? christopher: what we are looking at, and it is developing day by day because the information is coming in, from a position point of view we see people are not overweight banks. they are still overweight growth and growth type stocks, so money can move into the sector as the fundamentals change, and that's what we expect. another thing that would add to asset flows is when does the move from fixed incomes to equities happen? it is all about force and when we talk about force, it is about return. when people start moving money on fixed income assets, they think about liquidating or changing allocations and that is beginning. maybe in the next couple of months, we can see a bigger picture from the move from bonds to equities. jonathan: chris harvey, thank you, sir. yields have been higher through the month, up about 40 basis points, and banks rallying up money percent on the s&p 500. duration, in holding duration you have bee