this is bloomberg. ♪ paul: just some numbers on the bloomberg. december numbers coming in weaker, 104.3. positive territory, consumer confidence falling month by month, perhaps surprising. internal border restrictions being relaxed in australia. those consumer confidence figures, 104.3. take a look at the asx, weaker by one third of 1%, consumer discretionary stocks, taking a beating. 12 by 8/10 of 1%. studies show pfizer's pill is highly effective at preventing hospitalizations, but less able to erase mild symptoms. let's get more from bloomberg's managing editor. tell us about maura -- tells more about these study results. reporter: pfizer disclosed the results of two studies on tuesday. one, this treatment known as -- failed to meet the primary goal of reducing what they call self-reported symptoms. which is somewhat disappointing, even though you do have this result of it performing very well against severe disease and hospitalizations. some have been seeing these covid pills, you also have the one from merck and others, places like china. th

david on bloomberg tv and radio. i am going to bloomberg radio. we have the table show at the top of the hour, 12:00 in new york, 5:00 in london. we also have some podcasts. alix steel would be annoyed if i did not mention the spotify and itunes podcast. have a great weekend. this is bloomberg. ♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. >> from the world of politics to the world of business, this is "balance of power" with david westin. david: from bloomberg world headquarters in new york torch a vision and radio audiences worldwide, welcome to "balance of power. markets reacted to the fed action announced on wednesday. we start with that action

this is bloomberg. ♪ romaine: for the last five years, bloomberg businessweek has been publishing in any will look at the people and ideas -- an annual look at the people and ideas of the year. it is 13 anonymous people. junior investment banker at goldman joining us to talk more about this. in march there was this big slide deck called the working conditions survey were a bunch of junior bankers apparently catalogued and quantified to a certain extent what they were being asked to do and why they were not being compensated enough. >> it was a boring sending survey, but it was this little rebellion that caught fire. what they showcased in the middle of this deal bonanza that there was just way too much work to do. we know wall street people have to spend a lot of time, but it is different in the post-covid environment in the kind of dealmaking boom we have seen. that is why that survey ricocheted on wall street, because it is the same condition at jp morgan and morgan stanley and several other firms. that is the situation out there. immediately you saw everyone wanting to put forward

this is "bloomberg markets," simulcast on bloomberg radio and bloomberg television. i wonder if people would --, you know what? if you like this format, go ahead and tweak us -- and tweet us. just tell us what you think. do you enjoy this simulcast format? i like it, paul. i would stick with this. paul: we are multimedia. matt: all day, every day, absolutely. looking at the markets right now, we are headed for another record close. the s&p 500 up 6.5 points, only 0.1%, but it would be a 71st record close. this is bloomberg. ♪ >> you buy software companies and only software companies. why? >> that is easy. because software is the best business in the world. think about it. you have recurring revenues. you have high rates of growth. you have gross margins that are 90%. you have the potential for big cash flow margins. it is a fragmented industry where you can consolidate markets, and software is becoming the business of everything. >> software was definitely hot before the pandemic. >> -- software companies. we have developed and operating know how that really adds v

bloomberg. ♪ tom: this is bloomberg markets. european natural gas prices are plunging after this year's stellar rally attracted u.s. shipments that will offset flows from russia. ship tracking data show 15 u.s. vessels now heading to europe. we cover power and renewables. she joins me now. what do we know about gas prices and the movement today? how much of this is about energy coming from the u.s.? anna: european natural gas prices are declining and are h eaded for a 20% drop after a seven consecutive weekly gain driven by mild outlook in january and a wave of lng coming to europe. and many more coming from russia, nigeria and angola. that reflects very high prices at record levels. we have seen early this week and last week. so, prices were above the rates we saw in asia. and that is why traders, makes more sense for traders to direct the cargoes into european markets. but it remains to be seen in january, it depends on the weather outlook in asia and also if we are going to see more russian gas arriving in january. tom: you t

this is bloomberg. ♪ >> this is "bloomberg surveillance: early edition" with francine lacqua, matt . >> welcome to bloomberg surveillance: early edition, i am dani burger in london standing in a four francine lacqua. treasury yields drop a mid growth and virus concerns. blindsided under joe manchin, a potential $2 trillion bloat to joe's spending plan. the u.k. doesn't rule out mor

this is bloomberg. ♪ manus: this is "bloomberg daybreak: europe." oil extends its gains after it shows that initial vaccines are effective on the omicron variant. energy trends in europe are set to last as prices climb to fresh records. the energy team has assembled. oil and gas stories plenty. let's bring it to dubai, the uae, the home of oil, so to speak. omicron and the booster seems to be driving momentum, is that the ultra alpha or could it be -- coming from saudi arabia? >> i think that is the main reason we are up. wti is up around 10% this weekend brent almost as much as that. -- week and brent almost as much as that. they are more bullish because they do not think omicron will be as bad as they initially feared. it is important to point out that oil has not recovered all of their losses. is still give or take five dollars a barrel. -- five dollars a barrel below what it was before the announcement of the omicron variant. dani: if those are the dynamics lifting oil higher, let us bring you into this, oil prices have hit record highs. what is

this is bloomberg. ♪ kailey: this is bloomberg markets. i'm kailey leinz. u.s. rv shipments posted a record in november, up 15.6 percent compared to a year ago, as people look for ways to travel without staying in motels or riding in airplanes. the industry seems to be steering around supply chain, labor problems, but what does the picture look like going forward? joining us is jason lippert, chief executive of lci industries, the largest parts supplier to the rv industry. we know that everyone was interested in alternate travel at the start of the pandemic. you had a lot of demand for rvs and campers. is that starting to wane now that we are in the later stages of the pandemic? jason: we will have a record year this year, looking at next year as well, largely because we cannot build demand because of supply problems. 72 million americans are projected to camp next year, a record from 58 million this past year. 46 the year before. kailey: we will get to the supply issues in a moment. while we are talking about demand, have you seen it pickup or so in the la

this is bloomberg. shery: still ahead, apple is building a team to build its own wireless chips. will have the details. but up next, michael could you not says the selloff is a short-term adjustment after the fed's inflation comments. we'll ask if you think the central bank has the situation under control. this is bloomberg. ♪ >>>> economy is so much stronger now, so much closer to full employment. inflation is running well above target. >> inflation is effected to remain elevated in the near term , but should ease in the close of next year. >> there are signs now of more persistent prospects, and that is concerning to us. >> it is likely that we will raise interest rates in the year 2022. >> we are phasing out our purchases more rapidly because with elevated pressures, the economy no longer needs increasing amount of policy support. haidi: global central bankers shaping the great inflation debate. let's bring our next guest, this is the big risk is whether the santa fe -- the central bank has things

this is bloomberg ♪ . -- this is bloomberg. ♪ matt: this is bloomberg markets. u.k. prime minister boris johnson has been holding a news conference. this whole entire hour. it continues. i'm not sure if he's taking questions. that seems like that must be what's happening because even boris johnson couldn't talk -- couldn't speak for that long uninterrupted. he is kind of on the hot seat right now for his employees, they had a christmas party and some videos have been released and they were joking about how they weren't supposed to be doing that, they weren't allowed to be doing that. now they are making new worlds and the u.k. as we head into the christmas season so the concern is that people are going to think if they don't care, why should i? amanda: some of the headlines the rate of the transition -- -- rate of transmission of omicron matches africa. at the lot down measures are not severe. there will be vaccine passports and there will be renewed testing. could have an worse. one thing we do know is this has changed the way people have thought about work. million

this is bloomberg. ♪ dani: welcome back to bloomberg "daybreak: europe." cleveland fed president says she is very open to scaling back the fed's asset purchases at a faster pace so it can raise interest rates a couple of times next year if needed. she spoke exclusively with bloomberg's kathleen hays. >> going into the september meeting, thought there was a strong case for tapering at a faster pace than we had announced. since then, the data have come and supportive of that case, so i'm very open to a faster taper. kathleen: many suggest they should wrap it up by march instead of june. would you be in favor of this? >> we will have to discuss that, but in the first quarter or maybe early in the second quarter, right now, i could support that, given what we know about the economy. we will know in two weeks more about omicron and talk about what the appropriate cases. dani: what do you need to see, then? just a little confirmation to make sure you make the right decision? is there something you're really doubtful about making the case and actually saying yes,

this is bloomberg. ♪ let's check in on the bloomberg first word news. it is a mixed decision from the u.s. supreme court on the texas ban on abortions after about six weeks of pregnancy. justice is refused to block the law immediately, but did let clinics and doctors pursue a lawsuit at a lower court. the case could end up back at the supreme court. some are saying the solution to solve the supply chain problems is on display at a nestle dissertation center in the u.k., the country's largest full hillman center using robots and automated cranes, and it employs only 1/3 as many workers as its predecessor. >> we are not talking about smashing up the robots here. this is about understanding what the implications of new technology and automation may be, and inevitably, that will be at the cost of some jobs. we can't just have an upscaling and discard people along the way. ritika: global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. â

this is bloomberg. ♪ matt: this is "bloomberg markets." the opec meeting ended with no decision on output policy amid a surge in volatility, a bear market in some oil contracts. we will have to wait until they reconvene tomorrow to get news. let's get a little guidance right now and bring in will kennedy who runs our energy coverage globally. it is interesting they would consider raising output at a time when we have seen brent drop from 80 and change into the 60's. is it possible? will: most people are thinking they may pause their plans for production increase. i think they meetings are very open and there are options on the table. most people are talking about a pause in production. things they had not expected before, the omicron virus. they are under the pressure from u.s. consumers. we have had this big drop and i think a lot of the conversation will be about pausing and taking stock. matt: they have pressure from president biden and other national leaders to produce more oil. at the same time, we have a lot of countries talking abou

this is bloomberg. ♪ ritika: this is bloomberg markets. you're looking a live shot of the principal room. coming up, lara rhame at 12:00 in new york and 5:00 in london. this is bloomberg. the supreme court says it will hold a special session in just over two weeks to weigh challenges to two bided administration policies. the high court announced it will hear arguments january 7 comes amid rising coronavirus cases and an extraordinarily fast timeline. the court has not been scheduled to hear cases until january 10. former treasury secretary larry summers's warning of a testing period of the u.s. economy with the risk of recession followed by stagnation. in an interview with the bloomberg's economics podcast, larry summers the fed says -- larry summers says the fed has been late to spot the dangers of inflation. during his annual press conference in moscow, vladimir putin expressed concerns about inflation. >> we have 8%, a lot. our target is 4%. it is double. the states have it is a factor of three. the federal reserve will have to do somet

bloomberg, founder of bloomberg lp and bloomberg philanthropies. hong kong's financial regulator has issued rules on quarantine free travel to mainland china. this as a northern chinese city is reported to have logged the first omicron case. let's get more from our managing editor. what are the details on hong kong's reopening? >> well, these rules announced by the financial regulator really need to chart how business travel may resume and it will still be quite limited. only staff directors of licensed corporations who have roles in the region and whose main purpose of travel is to go into southern china's guangdong province will be able to preregister for this travel. that really does limit. companies will also be permitted to send just two executives each calendar month. they are keeping quite a tight rein on this as they start getting going. shery: hong kong is also requiring travelers from highest risk covid places to spend their first week of a 21 day quarantine in an isolation camp. what is the reasoning behind this? >> just when we thought

this is bloomberg. matt: it is 1 p.m. in new york, 7:00 p.m. in the berlin, 2 a.m. in hong kong. i'm matt miller. here are the top stories we are following from around the world. we will speak to the ceo of harley davidson as shares surge, the motorcycle maker announced its electric motorcycle division, livewire, will combined with a spac to become a publicly traded company. it was a record year for dealmaking, but how long can the m&a bonanza continue? we will ask a cofounder of a boutique investment bank. and we will preview what to expect ahead of the fomc meeting as the fed grapples with prices and investors brace for a hawkish tilt. the s&p 500 down about two thirds of 1%. we are coming off of a record close on friday, now back down to 4682, back down below giving levels and what we saw on bleak friday. the 10 year yield a down as investors reach for the perceived safety of government bonds, trading at 142.41. that's interesting as we head into a meeting where we expect the fed to become more hawki

on bloomberg television, on bloomberg radio. you can stream us on the internet. you can probably get us in smoke signals. i'm matt miller, alongside kriti gupta and dani burger. happy birthday, jon ferro. i hope you are sleeping still. in terms of the markets, you might as well be asleep. we don't really see much going on. for me and dani, it is almost over. in the u.s. you haven't opened yet, and it looks like you will open down. kriti: it is just getting started, so what is the word i am looking for? i am translating it in my head from what mom would tell me. don't jinx it. what is interesting to me, the vix is actually higher. we are looking at an 18 handle. i wonder if it is going to increase as we start to see a selloff. people getting rid of the positions that they do have in the market going into the last day of 2021. dani: maybe a little bit of year-end repositioning. i've got another terminal function to throughout for you. this really encapsulates just how little people are trading today. currently, the composite volum

this is bloomberg. ♪ ♪ dani: welcome back to bloomberg daybreak: europe. yesterday, we spoke to the bank of america ceo and he told us that the u.s. economy is at full employment and supply chain problems are beginning to normalize slowly. >> we have inflation. that's not the debate. the average inflation for the last several quarters has been higher than target. where do people think it's going to go next? that's what is on people's minds. what you are seeing is wage growth and the expectation of wage growth. that's for the inflation. it's known that we have it. how do you spring it back in? if you think about the economy growing 5.5% this year, 4% next year, 2% and 23, the goal is to glide into that growth rate without causing a recession. that's the hard work of the transition monetary policy has to go on now. >> you have a viewpoint in the economy because you have a lot of small and medium-size businesses. tell us about the effect of the supply chain on those companies and therefore on inflation. >> one of the effects that we didn't like it is, they ar

let's get the bloomberg business flash with angel feliciano. >> bloomberg understands apple has sold component suppliers demand has weekend amid the global supply crunch. the firm had already cut its production goal for this year by his many as 10 million unit down from a target of 90 million. they have given up trying to get the hard handset. hermes is set to join one of europe's main equity benchmarks. it is to replace universal music in the euro stoxx 50. they have been benefiting from a boom in luxury demand that accelerated during the pandemic. unicredit is planning around 3000 more job cuts after the ceo spoke about profitable businesses after an error of restructuring. many of the cuts will come from the italian lender. the banks current dividend is set to boost and focus on more lucrative products. that is your bloomberg business flash. dani: thank you so much. the omicron variant is continuing to spread globally. worries over that and hawkish comments coming from the fed sent the s&p 500 to its worst two day loss in 14 months feeding into european markets, which are sharply

this is bloomberg. ♪ s bloomberg. ♪ matt: this is bloomberg markets. johnson & johnson ceo alex gorsky says the company will have more information about the efficacy of its vaccine against the omicron variant in the coming weeks and discussed how the pandemic has change the business of j&j. alex: first of all, it's important to acknowledge the great progress we have seen. clearly, we have some challenges in front of us, but when you think back to the uncertainty that we all faced 20 months ago, would we have a vaccine, therapeutics, what would be the path forward we have certainly made a lot of progress. but omicron has demonstrated, we need to get everybody vaccinated. the sooner we can get everybody vaccinated, and the more we are learning, including a booster, the more we can prevent these additional mutations and hopefully get through it. we remain absolutely committed to this. we are working real time as we speak not only on the current version of the vaccine, to get it out to as many people as possible, but also on a next-generation, depending on

this is bloomberg. ♪ ♪ anna: good morning. welcome to "bloomberg markets europe." central banks but inflation is a bigger risk than omicron. tech tumbles as work from home becomes the new normal again. plus turning up the heat. the u.s.

this is bloomberg. ♪ alix: this is "bloomberg markets ." tim ryan , peta bc chairman, will be joining bloomberg -- tim ryan, pwc chairman, will be joining bloomberg. this is bloomberg. ♪ let's check in on the bloomberg first word news. a new study says two doses of pfizer and astrazeneca vaccines induce lower levels of antibodies against the omicron variant. researchers at the university of oxford said it increases the risk of covid infection and underscores other findings released by the british government that emphasize the need for booster shots. the governor of california once to view the spring court ruling -- cal for you wants -- california wants to view the supreme court ruling on the texas abortion law is a model for guns. opec says the impact the omicron variant is expected to be mild and went last long. the forecast means opec and its allies won't create a big surplus when they proceed with plans to increase oil production next month. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journa

this is bloomberg. ♪next. this is bloomberg. ♪ >> it is not us threatening them. we did not come to the border of the united states or the united kingdom. they came to our border and now they are saying, we want ukraine to be part of us as well. and you want guarantees from us, no, you are owing us guarantees now without any delay. not in decades. dani: russian president vladimir putin lashing out during has national -- annual press conference where he also praised the u.s. response to his demand for guarantees. european natural gas prices plunging again today after this year's stellar rally. that will help offset. at least 10 u.s. vessels heading to europe and another 20 that appeared to be crossing the atlantic. we cover our and renewables. how should we be interpreting this third day of plunging natural gas prices? >> we are seeing an increased number of tankers heading to europe. we have also seen your virgins from asia. ships making u-turns mid ocean. coupled with that, we have seen an increase of cargoes heading from russia and africa. europe is the most att

this is bloomberg. ♪ amanda: welcome to "bloomberg markets." matt: we welcome our bloomberg audiences each day. here are the stories we are following from around the world. tech to the rescue. they lead the biggest dock rally since march. speaking of the biggest, volkswagen shares are rallying the most since march as well. we will speak with a key auto analyst about a report on a potential bake sale and possibly an ipo. omicron affect the return to office plans. we speak to the conference board about their latest survey that details workers attitudes about the future. amanda: it certainly seems attitudes about stocks are positive. definitely momentum in the other direction. whatever concerned about eight more hawkish fed and what we don't know about the variant seems to be taking a backseat. big percentage swings. the nasdaq is leading the gains up. every subgroup is higher. leadership from everything from tach to energy to financials -- tech to energy to financials. oil. this is not as bad as we thought. demand may pick up as people had hoped,

this is bloomberg. ♪ ritika: time for the bloomberg business flash. the international energy agency says the release of tight oil markets is on the way. it says surplus in the market and agency forecast a bigger oversupply early next year because the omicron variant is impeding international travel. in france the majority of renaul t's union have signed on to a plan to cut jobs, part of the manufacturers overhaul and shift to electric vehicles. it will target production of more than 700,000 vehicles a year in france. in the u.k. oak auto forecast shale service -- company requesting demand for shopping for food to grow. it also won the first phase of a fight over its robotic warehouse technology. goldman sachs and jp morgan are opening their wallets to try to keep bankers happy. that will put pressure on their rivals to do the same. jp morgan may increase its full by 40%. the banks dominated this year's dealmaking frenzy. they may have to overpay to keep the people they want the most. that is your latest business flash. guy: thank you very much. anothe

a bloomberg's group says the u.s. and allies are considering sanctions on russian banks if moscow invades ukraine. the pboc shifts toward easing, with the downturn hitting growth. evergrande on the brink of default. plus, omicron fears subside, global stocks rise and the s&p 500 erases last week's drop. treasury yields at higher. how long will the risk on narrative indoor -- endure? i remember we used to wait until the letter arrived, it was so important in setting the tone. he is ready to shave risk and this is what he said, a bear market is required at this point. i think over the course of the next year, and he or she that loses the least, maybe they are the winners. there is the tone from dennis gartman. dani: good morning. he also says avoid the tech. maybe it is an easy call to make because it's already in a bear market. the goldman-s. -- the goldman sachs indexes already: 20% from the peak. manus: against this morning said the aware galactic tech and galactic tech evaluations. you can have accidents and they ca

on bloomberg television, on bloomberg radio. you can stream us on the internet. you can probably get us in smoke signals. i'm matt miller, alongside kriti gupta and dani burger.

this is bloomberg. ♪ kailey: this is bloomberg markets. while bitcoin is rallying in today's session and on pace for the best day since november 8. it has been a big year for the crypto world overall. venture capital funds have poured about $30 billion into crypto in 2021. the number represents more money than all previous years combined. it is quadruple the previous high at around $8 billion back in 2018. we are looking strictly at the u.s., venture capital transactions, they are up 7.2% in deals. four times the previous record set in 2018 with coinbase to ventures leading the way when it comes to deals. let's bring in paul prager. let us start with a very high level view. and you compare it to 2018, do you think 2021 and 2022 will be similar in the amount of traction crypto gains? paul: i think it is becoming u.s. industry, 2022 is going to be a big year for bitcoin money. kailey: what kind of demand is that translate to? what is a hard figure? paul: bitcoin is finite. earlier you get into the game, the more miners, the better off you ar

bloomberg radio and bloomberg television. i'm matt miller with paul sweeney. paul: our last day of this cool radio/tv simulcast, the last trading day of the year, as we look ahead to 2022. the markets off just a smidge. the s&p off about four points, but not too much. let's go to abigail doolittle. she is going to give us the latest on the beginning trading session, the last one of 2021. abigail: the last one is showing very small volume, 52% below the 20 day moving average, so clearly lots of traders and investors are out already for the new year holiday. the s&p 500 fluctuating between small gains and losses. the big question is whether or not we can end the day with at least a small gain. that would be the 71st record close of the year. if not, 70 record closes in 2021. that is pretty remarkable. the nasdaq 100 down ever so slightly. bonds not doing all that much. we are seeing a bit of a to klein and crude oil, perhaps having to do with some worries around omicron, and of course, all eyes on 2022. most seem to think there

he spoke to bloomberg's david westin. ian: i think that there is a reasonable likelihood that the russians will engage in some form of escalation, but i don't think that means invasion into iev and overthrowing the government. the problem we have is that the united states -- we have coordinated with our allies in advance of the putin meeting biden had a couple of weeks ago -- that was the right thing to do. we want everyone on the same page. we made clear there will be tough sovereign debt sanctions, primary and secondary, nord stream 2 won't happen, it will stop, it won't go operational, and we will forward deployed troops if they invade ukraine. ok, well what if they don't invade ukraine? what if they formally annexed the territory they already have because they say that the ukrainians are engaged in acts of genocide against ethnic russians? which putin is saying, even though it is not true. what if they do that? how do we respond? i worry that the americans and europeans are not as coordinated on that issue. i also thi

this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." let's dig into the oil story with crude extending declines as the rapid spread of the omicron variant increases concerns about the demand for outlook. from oi --for more, our oil reported joins us. what is driving prices and will volatility continue? sharon: that is right, we are seeing a lot of volatility. today, prices are down more than 3% as of this moment, and we have to remember that the trading volumes are thin as we approach the holidays. the omicron variant is adding more headwinds as well as volatility to the oil market right now and we have fresh lockdowns introduced in parts of europe to stem the spread of omicron. cases have spiked in parts of the u.s. such as new york. that is weighing on risk sentiment near the year end. the brent spread, the market is looking more bearish and showing signs of softening already. dani: and you also have to wonder if we don't have the u.s. bill, if that will crimp demand. thank you. let's dig into these markets. as a sharon was saying, we

this is bloomberg. shery: we take you live to the u.s. capitol where the u.s. senate has enough votes to pass legislation to pave the way for subsequent measures to raise the debt limit, while also avoiding a republican filibuster. the vote was going on right now. this would basically help raise the federal government 29 trillion debt limit, and eventually avoid an unprecedented default. but this is a fast-track vote which allows democrats to vote later on the debt ceiling with a simple majority. they preemptively art -- are blocking republicans from filibustering the debt limit will, and 14 republicans have joined all 50 democrats to end the debate on the bill. you are looking at live pictures of the u.s. senate. this after the house already voted on another bill linking a procedure to raise the debt ceiling to a bill to prevent automatic medicare cuts. what this would do is raise the debt limit by $2 trillion for the issue to rest until at least after the midterm election in november. there is a lot o

this is bloomberg. haidi: the market outlook, a sentiment firm's option. the etf tracking of blockchain and nfts index. the sec moved to block the $40 billion video deal, we will hear from the co-founder later this hour. this is bloomberg. ♪ shery: we are seeing u.s. futures muted at the open, this is after we saw the rebound in the new york session. despite equities gaining, we have the big falling, but still at an elevated level. let us bring in our next guest, the reason that volatility feels overdone. the cofounder of defiance, etf. we continue to see the volatility and the equity in the treasury of markets. all of those frequent pullbacks we have had. the caveat here is stocks have had a shallow selloff. they have been followed by quick rallies. what is this counting on? >> great to see you. i think what it is telling us is that there are a lot of uncertainties in the market and the market reacts to any kind of news that is not part for the coast -- course. there was the omicron, the uncertainty

this is bloomberg. david: just ahead of the show, chip maker -- up in after hours trade reporting earnings and analysts are very optimistic over the costs. we discuss its performance and we discuss about the supply chain crunch as far as chips go. sk kim joins us in a few minutes but coming up next we have a policy diversions between the fed and the pboc. how much it matters and what it means for risk assets. we are joined via guest after the break. this is bloomberg. ♪ david: good morning. treasuries and futures, 60 minutes in. 45 minutes, the treasuries a little bit lower. the markets pushing higher slightly. vix shooters -- vix futures are down. the euro. let's have a look for what bond currencies and bond markets expect. vishnu varathan is with us ahead of strategy at missoula bank. we look at the majors p the dollar has been six or seven weeks of gains in the last seven or eight. does that continue in your view? >> we think by and large it is going to continue. of course, -- it goes in a straight

kailey: good morning on bloomberg tv and radio. this is "bloomberg surveillance ." kailey leinz, gina martin adams, and guy johnson in for tom keene

this is a special simulcast on bloomberg radio and bloomberg television. we will be here all week, and we are very excited. a lot going on today. we had some richmond fed manufacturing data that i thought was pretty exciting. we had some covid data that was a little more depressing, but also some positive news in terms of less severity of disease. we had some great corporate news from apple, giving surprise bonuses which is nice this time of year, although they are restricted stock bonuses, so you got to stay there. we've got another record high. if we close at this level, because we did drop yesterday almost five points in the end. if we close this level or more than that, we will have a 70th record high. paul: we've got eco-data out. pending home sales, they were off 2.2% month over month in november. the consensus was for plus 8%. that is a negative surprise. but i sold a house. you bought a house. we were active in the market place. so i am not sure what everyone else is doing. matt: i just went into contract about two weeks ago, if you must know, so i

this is bloomberg. kathleen: still ahead, the bank of japan's fourth-quarter survey is likely to be a bag. we will have the numbers what they board of -- monetary diversion is said to be a fee -- a key theme of 2022. we will talk about what that means for fixed income investment. this is bloomberg. ♪ >> you are continuing to see inflation broaden out, particular he among the service sectors. >> high inflation is a problem for the economy, huge problem for the most vulnerable segment of the population. >> we are at peak inflation from the supply chain right now. you can already see some signs of production and some of the supply chains clearing up >>. people proclaiming the supply disruptions are going to be over, they are not. >> i think it keeps pressure on the federal reserve. >> the fed vacillates with the word transitory, but they believe and i think wall street still believes this inflation problem we have is going to resolve itself. >> the inflation data is pushing the fed to accelerate tapering

this is bloomberg. ♪ jon: this is bloomberg markets. i am jon erlichman with taylor riggs. shows have had to postpone or cancel because of omicron. more on the challenges facing live entertainment during the pandemic. daniel amar from sir soleil recently stepped down as ceo. obviously a lot of moving parts. you have talked about it in your book balancing act. i just saw a headline about some new york city shows being impacted by covid cases. how are you navigating this latest wave of covid? >> right now it means we have to be very agile and very respectful of our cast and crew and patrons and also respectful of what's happening in each city because it's different from one city to the next. right now we are still hoping to continue to present our shows in a very safe way and make sure that our patrons that are going to visit us are safe. jon: for many businesses it feels like we have already been through this kind of moment. it's no secret that the business of cirque du soleil emerged from bankruptcy protection. can you walk us through that process? >> first of all that was

this is bloomberg. ♪ dani: good morning from bloomberg's european headquarters. 6:30 here in london. i'm dani burger, and this is "bloomberg: daybreak europe." boris johnson rolls out stricter covid rules before christmas. germany's canceler tightens curbs. president biden warns the variant could result in more breakthrough infections. a foggy outlook for u.s. fiscal stimulus. europe's energy crunch deepens, prices soar. it is a market with gains of 1%. previously it was losses of more than 1%. we are experiencing an unusually volatile december. according to data, the average for december has been more than 1% of the move, and that outstrips every other month this year but it is typically december that is the least volatile period. it is a time of year when volumes are usually low. let's look at the data. we are seeing european stocks rebound, up 0.5%. owning flat on s&p 500. -- holding flat on s&p 500. we are looking at losses in the lira. a half hour ago, there were gains. it is even more volatile than that december stoxx story. let's focus on retail in england , and the major shop

bloomberg, this is bloomberg. dani: laura wright in london. coming up, nike beats re-knew estimates in spite of significant supply chain disruptions. details next. this is bloomberg. ♪ dani: back back to "bloomberg day break europe," nike reporting earnings after the bell on monday and the world's largest apparel and footwear company beat its forecast despite significant supply chain disruptions. laura, i hope you say it correctly. laura: really impressive earnings for the company. earnings per share landing at 83 cents. but 31% upside from what the street was expecting. north american and other sales were robust, that was able to offset robust growth from china, latin america and asia pacific. chinese rev news but 20% lower year-on-year. this is because of consumer confidence and aversion to western brands. they raised their gloases growth by 160 points. the biggest reasons for gross margins, they had to shut some of their vietnam factories over the summer because of covid restrictions. they outline that manufacturing in southeast asia was

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. after its public debut on friday, shares of hagerty continue to rise as a specialty provider merged with a spac. joining us is the ceo, mckeel hagerty from outside the new york stock exchange with a special guest. who have you got behind you? mckeel: thank you for having me. this is the very first do is invert, a very luxurious car from the 1920's and 1930's. it took two years to build. what is unusual about this car, the original owner was over seven feet tall. so it is a huge come along car. it is awesome. matt: how do you ensure something like that? we have seen record price after record price for classic cars. some of these things are just absolutely priceless. what do you do as an insurer when somebody comes to you with a car like that? mckeel: that is the coolest part of our space. so many of these cars have gone up in value. over 40% of every vehicle in the last year went up in value in the last 12 months. when you start talking about the rarest of the rare, yo

this is bloomberg. ♪ emily: day two of the bloomberg technology summit. we were joined by the warner media studios ceo ann sarnoff. she spoke about the challenges in the content streaming business and the future of entertainment. he started by asking what state of recovery the movie business is in. ann: it is a work in progress. everyone was hoping we would be on the others of the pandemic by now, but unfortunately with delta and omicron, we are kind of having to live with it for a while longer. but thankfully people are going , back to theaters. not everybody, but certain demographics certainly are showing more of a willingness. but for us to really get back in full swing, we need the broader spectrum of ages and tastes to go back to the theater. >> who are those who are more willing, and who are those who seem to be resistant? ann: you would probably guess the answer to that, but it tends to be younger people. i am going to say below 35, young-ish. and the opposite, over 35, we are not seeing as much of an inclination to run back to theaters. certain mo

this is bloomberg. ♪ this is bloomberg. ♪ >> we have once again stressed -- once again expressed our views when it comes to compulsory vaccinations. if vaccination mandate is to be discussed and decided on. >> there is a consequence to the fact that a large portion of german citizens have not yet decided to get vaccinated. >> looking at the situation, i believe it is necessary to decide on a vaccination mandate. that means if i were in the german bundestag, i could say i would be in favor of it. alix: that was german chancellor angela merkel and vice chancellor all of schultz earlier today about the country -- chancellor olaf scholz earlier today about the country's new restrictions. reporter: i think they are trying to avoid canceling christmas for people who are already vaccinated, and i think that is really the thing. they are targeting 30 million vaccinations before the end of this year, and they really need to pick up the pace because they are seeing the current wave in covid infections which the government is tying to the very sluggish uptake, especially in certain regions of t

this is bloomberg. ♪ kailey: this is bloomberg markets. i'm kailey leinz. in china, banks borrow low in cost for the first time in 20 months, providing support to an economy showing strength. the move underscores the diverging monetary policy path between china and the u.s. and also marks a new phase in the global struggle to deal with the pandemic fallout. for more insight, let's bring in jonathan ward, founder of the atlas organization. great to talk to you. what we are seeing in china, virus aside, comes amid the pursuit of common prosperity, and that has led to a crackdown on a number of industries. can we expect china to just continue to keep policy easy, do what it needs to do to shore up the markets, so they can pursue that agenda? jonathan: it is sensible to look at the two together. on the one hand you are dealing with these structural problems in the chinese economy, general economic slowdown. on the other hand, ccp wants greater political control, particularly over its industries and emerging technologies. seeing them try to control these is prio

you're listening to our special simulcast on bloomberg tv, bloomberg radio, and bloomberg. this is bloomberg. ♪ romaine: this is bloomberg markets special this week. romaine bostick alongside tim stenovec and kriti group to covering all the days action. we're looking back at 2021 and looking ahead to 2022. here are the numbers on the day. the s&p down by .10%, the nasdaq down about .6%. despite all the turmoil we've had this year the vix at a low point and at the bottom of your screen, your bloomberg dollar spot index slightly higher on the day. an interesting story on the year, up about 5%. this is the first time we've seen that type of string in the last couple of years. that is the strongest we have seen in at least five or six years. we are at the flattest level on the curve as we have been on your long. a lot of people look ahead to next year and what the fed is going to potentially do. a lot of people projecting those rate hikes for march. keep an eye on what is going on in commodities. brent crude up about 57% on the year. gas futures up 67% so if you are driving t

this is bloomberg. ♪ emily: bloomberg news says it will continue to do all it can to help our colleague one year after she was detained in china. bloomberg's editor-in-chief, john micklethwait, says 12 months of detention is a long time for anyone to endure and that the company remains very worried about her well-being. chinese authorities said that fan was detained on national security law violations and that her interests are fully guaranteed. apple ceo tim cook signed an agreement with chinese officials, promising that apple would play a role in developing the country's economy and technology through investments, business deals and worker training. the five-year deal set to be signed in 2016 was worth over $275 billion. i am joined by bloomberg news. reporter who covers apple for us. how significant is this? >> this is significant. it is a multiyear, multibillion dollar deal that apple did not disclose. typically when you see a deal of this magnitude, apple likes to disclose it and have pr for it. they certainly did that for $700 billion deals in the united states. this is china. the

this is bloomberg. ♪ this is bloomberg. ♪ rishaad: you are back with bloomberg markets. having a look at our top stories, the number of container ships headed to america's busiest ports rising to closer to 100. that underscores the magnitude of the logjam blake in global trade lines. they have been waiting 21 days on average to enter the los angeles port. saudi arabia raising oil prices for asia and the u.s. despite the spread of the omicron variant. it comes days after opec-plus district -- surprised traders. reserves of palm oil, the world's most consumed edible oil probably, contracted in malaysia in november. we saw production decline. quickly checking oil prices. crude oil price as well as the palm oil price. palm oil prices may remain robust and the first quarter of next year, as consumer demand remains strong and tightness will only ease marginally. palm oil trading there, what, $34. brent and wti on the way up, 2.4% plus. bloomberg terminal users can read more about these stories about supply chains and supply lines on and i space trade nl. yvonne: louis vuitton

we welcome both our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. uscp is climbing at the fastest rate in nearly 40 years, showing inflation is not slowing down. that puts even more pressure on the fed as its decision comes next week. the ongoing supply chain issues leading to that inflation continue to add to price pressures. we go live to the port of los angeles for the latest with ed ludlow. and hedge funds are said to be entangled in a criminal investigation by the u.s. department of justice into shortselling as it pries into their financial relationship with researchers when setting up their bets. all that and more, coming up. amanda: interesting reaction across stock, slightly mixed picture but overall positive. weakness in energies and financials for the broad s&p 500. leadership from the techs and the subgroups that make up tech. broadcom, costco moving sharply higher after their quarter outlook. you are seeing some willing volume. the 10-year back at 1.47. we had been

kailey: "bloomberg surveillance "bloomberg surveillance this is," welcome to our -- this is "bloomberg surveillance." isil have questions, frankly the same ones i had yesterday but today looks very different from yesterday. in terms of price action in equity markets, you are seeing buying coming in with futures positive across the board. it is tech and small caps that are outperforming. nasdaq 100 futures, the number looks more like 1.3 at this time . two hours to go until the opening bell, so we will see if a dip in the behavior can hold. bond markets, you haven't necessarily seen much movement when it comes to treasuries. there was no massive bid yesterday and there isn't pressure today. you are up on the 10 year yield but even that three basis point moved to the upside brings us far below where many expected we would be in the face of a hawkish fed to. we are down to the curve on the two-year right now. interesting as well, fx, talking about peculiar behavior. didn't see the dollar getting a haven bid. it was instead the euro with some euro strength today up 1/10 of 1% to the dollar

this is bloomberg. let's check it on the bloomberg first word news. president biden has infuriated some eastern european nato allies with an offer to europe. the president has proposed they could meet with russia to discuss the military buildup along the border with you rain. -- with ukraine. there is concern what kind of concessions the talks could lead to. in the u.k. business groups are calling for government support after force johnson tightened pandemic -- after boris johnson find pandemic rules. the new limits could cost the economy -- force johnson mandated the use -- boris johnson --the panel says the party failed to properly report a donation used to refurbish the prime minister's home. the find more than $23,000. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. alix: is a soggy take, but some stocks are outperforming. online gradually platform boxed is up -- online grocery platform boxed is up 42%. it went public w