the program has completed three bond sales to date and that fully funds the bond component. and however, i do want to spend a few minutes talking about numerous item that are added at the last presentation which is covid-19 related cost and timing packs. and since early 2020, the contract has had numerous adjustments in the field to implement protocols, masks, social distancing requirements and safety and oversight for the contract and safety officer to name a few. the actual cost and time impacts on the actual projects and based on what we have seen to date is not as impactful as one would have expected. and as the economy starts to recover, our projects building five have been seeing substantial cost impacts and increases on the bid prices on the trade packages that we are currently bidding out. costs were driven by material cost increases, supply chain shortages that led to volatile price increases as well as material delivery delays as i am sure everyone is hearing on the news and we have been strugging to solicit more interest to bid on our projects. in the discussions,

but what used to fix that was gold, and we had gold buds and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for real. it's not that instagram slick, snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the mouldy sandwich with a few piece of the handle between the same thing with goals. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming or deflation. the fed was out of control. the government spending was out of control, it was telling you a lot of important things well, today and our economy in t

but what used to fix that was gold, and we had gold buds and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for real. it's not that instagram slick, snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the mouldy sandwich with a few piece of the handle between the same thing with goal. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming or deflation. the fed was out of control. the government spending was out of control. i was telling you a lot of important things well today and our economy in this

do big point back bonds. do volcano, bonds sampson and block stream? or actually i'm in conversation with el salvador, the government, and architecting the very this very thing. what we heard on a call recently, simon, as they went essentially with the samson mal plan, which is a bond that will be half invested in big coin, half in infrastructure. it pays a 6 and a half percent coupon, which is, as you point out above the inflation rate. and that, that infrastructure spend is going to go in part to a new city in el salvador, called bitcoin city to the east in this is another remarkable development, simon, because, you know, we've witnessed over the past 1011 years, a lot of countries and a lot of territories flirting with the idea of becoming bitcoin and hyper bitcoin ization. for example, i'll of man and others, but this looks like they finally got to do it simon, they're going to create hyper quantization circular economy all based on bitcoin right there in el salvador. is this the really the, is this the o

but what used to fix that was gold, and we had gold bugs, and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for a real. it's not that instagram slick snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the moldy sandwich with a few pieces, a handle between the same thing with gold. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control. the government spending was at a control, it was telling you a lot of important things well today and our economy in this ne

do big coin back bonds. do volcano, bonds sampson and block stream, or actually in conversation with el salvador, the government, and architecting the very this very thing. what we heard on a call recently, simon is they went essentially with the samson mal plan, which is a bond that'll be half invested in big coin, half in infrastructure. it pays a 6 and a half percent coupon, which is, as you point out above the inflation rate. and that, that infrastructure spend is going to go in part to a new city in el salvador called bitcoin city to the east. this is another remarkable development, simon, because you know, we've witnessed over the past 1011 years, a lot of countries and a lot of territories flirting with the idea of becoming bitcoin and hyper bitcoin ization. for example, i'll of man and others. but this looks like they finally got to do it, simon, they're going to create hyper quantization circular economy. all based on bitcoin right there in el salvador. is this the really, the, is this the one we've

do big coin back bonds. do volcano, bonds sampson and block stream? or actually i'm in conversation with el salvador, the government, and architecting the very this very thing. what we heard on a call recently, simon is they went essentially with the samson mal plan, which is a bond that'll be half invested in big coin, half in infrastructure. it pays a 6 and a half percent coupon, which is, as you point out above the inflation rate. and that, that infrastructure spend is going to go in part to a new city in el salvador called bitcoin city to the east. this is another remarkable development, simon, because you know, we've witnessed over the past 1011 years, a lot of countries and a lot of territories flirting with the idea of becoming bitcoin and hyper bitcoin ization. for example, i'll of man and others. but this looks like they finally got to do it, simon, they're going to create hyper quantization circular economy. all based on bitcoin right there in el salvador. is this the really, the, is this the one w

bond. james bond. or bond. jane. definitely bond and then we will figure out the other part. it's a little bit of a weird thing but we'll see what happens. look at daniel crying. >> greg: did you ever see my impression of him? i can't stand him is bond. >> jamie: that's very good. [applause] i just got nervous because i thought daniel craig was here. >> greg: he has to purse his lips for two and half hours. see five it's like my sister on instagram. >> greg: he is like a thirsty chick on instagram. >> jamie: he's getting so old. >> brian: do you remember the controversy, could a james bond be blonde? that was controversial. >> greg: this is something i'm going to bring up even though it's change angel. the real story as james bond could be anything but short. we discriminate. we've never talked about the other discriminations are gone. sure people get discriminate in all occupations except of course talk show host. you've got to be good-looking. doesn't matter which gender. you got to be hot and tall. >> brian: i think you're wrong. i'm sure you're wrong. case in point: sylve

, 2 big coin back bonds. do volcano, bonds sampson and block stream? or actually i'm in conversation with el salvador, the government, and architecting the very this very thing. what we heard on a call recently, simon, as they went essentially with the samson mal plan, which is a bond that will be half invested in big coin, half in infrastructure. it pays a 6 and a half percent coupon, which is, as you point out above the inflation rate. and that, that infrastructure spend is going to go in part to a new city in el salvador called bitcoin city to the east. this is another remarkable development, simon, because you know, we've witnessed over the past 1011 years, a lot of countries and a lot of territories flirting with the idea of becoming bitcoin and hyper bitcoin ization. for example, i'll of man and others. but this looks like they finally got to do it, simon, they're going to create hyper quantization circular economy all based on bitcoin right there in el salvador. is this the really, the, is this the one

look at our green bond fund raising the last year. in 2020, we had 18 esg at bonds, a record high. just off november 30, we already have 91, raising more than 270 billion hong kong dollars. the flow of coming out from china are opportunities. challenges, we are dealing with it. disclosures. the common ground taxonomy we are working on. as part of the -- group we are working together with other finance regulators in hong kong making sure we have a standard set of disclosures. >> have you seen change in the types of corporate's issuing green bonds? >> we have seen softened, we have seen property developers. but we have seen more of other types of issuers including power companies. >> of course. that leads me to the next question about carbon trading. i know there were feasibility studies launched in july. can you give us an update on how and where are we in the process of making hong kong and the hong kong exchange a carbon trading hub tied to cap and trade in china? >> as the green finance center of the greater area we are keeping close to the development of carbon trading in china.

types of bonds, there's high yield bonds other bonds. many of which are yielding decent returns. >> we're really cautious on interest rates generally i actually don't -- i don't know that i agree with what the bond market is saying that the economy can only handle a few hikes. also we're not totally sure that inflation will subside all that much on its own. and even if it does subside or even if the economy can handle only a few interest rate hikes, they should stay where they are, so there's not a lot of upside to it. you're eluding to high yelield bonds, other places to be that can serve that anchor within a portfolio that don't have to be pure government bonds. >> so we like to call these opportunity fridays here at "worldwide exchange. where are those areas? somebody out there that maybe wants to own fixed income for whatever reason. they're older, they want to maintain their money, not looking to grow it as much where should they be right now >> we mention one area we like, which is government backed mortgage bonds tend to out perfo

but what used to fix that was gold, and we had gold bugs, and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about goals that is remarkable in this age of a fire festival economy where everything is hollowed out for real. it's not that instagram slick, snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the mouldy sandwich with a few piece of the handle between the same thing with goals. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control the government spending was at a control, it was telling you a lot of important things well today and our economy in thi

so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i want to look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for real. it's not that instagram slick snazzy sort of a lifestyle brand that we're all great. remember that's the american dream. and the real reality is the moldy sandwich with a few pieces of ham and between the same thing with gold. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us there was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control. the government spending was out of control. i was telling you a lot of important things well today and our economy in this new economy investing in lego more lucrative than gold studies suggests market for a 2nd hand. lego also right,

but what used to fix that was gold, and we had gold buds and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for real. it's not that instagram slick, snazzy sort of lifestyle brand, but we're all great. remember that the american dream and the reality is the mouldy sandwich with a few piece of the handle between the same thing with gold trim. gold used to be the number one price signal. whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control, the government spending was out of control. it was telling you a lot of important things. well, today and our economy in this n

so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for a real. it's not that instagram slick snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the mouldy sandwich with a few piece of the handle between the same thing with gold. so gold used to be the number one price signal whenever the price of gold went up. it was telling us that was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control, the government spending was out of control. it was telling you a lot of important things well today and our economy in this new economy investing in lego more lucrative than gold studies suggests market for a 2nd. ham. lego also rises that a better

it's a 10 year bond. i think this is going to be the best performing bond anywhere in the world over the next 10 years by a long, long shot at it really is going to be a chance for balsamic earth to get rid entirely of all their debt, all their that they're going to get rid of using these bonds. right, and of course the kelly has said over and over that his inspiration is singapore. they want to be like sang a pork as singapore, of course, had been a very poor country. tropical, very hot, steamy, swampy. and they turned it into a financial power house. and that is what you also saw. i saw the clip just the other day of night, mckelly meeting with a singapore investor who is a big investor. and now, salvador and his 1st words were like, this is beyond meeting just the president. i am meeting in a you are making the future, you're making the future you're making history. although it's pretty amazing. but, you know, we lefts, this relentless optimism that you saw everywhere in el salvador returned to the uni

what is a bond investor to do? if i am in fixed income and i want a coupon, do i just assume yield up and price down? george: thank you. good morning. it is great to be on again. as lisa just mentioned, it is sort of opposite day and markets, it seems. as central banks around the world are trying to reestablish their credibility as inflation fighters, the playbook to fight inflation is pretty well understood. you tighten policy, you reduce liquidity in the system that slows growth, and inflation comes under control. a lot of that takes time and takes a lot of effort. what seems to have happened in the last day or so, the fed has basically met market expectations. in doing that, nothing market seems to believe we are on course for a soft mandate. but the market knew what they wanted. the fed gave it to them. now all we need to do is sit back and we will see slower growth next year and moderating inflation. that is a very optimistic outlook. our view is that things are going to be a little more choppy than that. even

on the bond side, bonds are rich across the curve. yields are negative. we recognize that. so we're, given the likelihood of getting interest rate volatility, possibility that market rates decouple from the fed or the other central bank's desires. maybe the markets don't buy the story anymore. so we want to be short duration and high quality balance sheets and take advantage of that and remain flexible and liquid. on the equity side, we're looking for companies that have controlled pricing power, that can manage their input class -- costs, that may lead into margins. and pricing power. so the big risk in the equity market is, are investors today willing to pay 22% multiple on next year's earnings? are they still going to do that if the equity market appears, or the economy appears to be soft? shery: tell us more about your commodities bet because we have oil trading around $70 a barrel level. have you position energy companies, for example? michael: energy is a perfect example, we have opportunity in the equity market. as a rule, these stocks are below market multiples, so

would it help you and your bond the ark it -- in your bond market to get the 10 year yield forecast right? tom: clearly it did not. the big story of 2021 is that 10-year gilts have paused around 1.50% today. we peaked at 1.75%. the second story is that two-year yields have been rising steadily for the last several months here. there is a tie to get to between these two because two-year yields have been rising sooner than folks expected because it means the fed has to tighten sooner that expected. so there is a cayenne between the two. there are other factors why the 10 year yield hasn't risen, but template but -- but simply put, there's a lot of reasons, and it is going to be the same next year as well. matt: what is the flattening yield curve mean for the u.s. economy next year? tom: what it means is we are heading for a midcycle slow down for 2023, presumably because the fed does lift off three times next year, does end tapering by march, so you start to see some kind of midcycle slowdown. it also means that the fed has way too many treasuries into my market -- into a market where even

the bond market yields are higher by couple of basis points. in the commodity market basically unchanged at 7126. looking at crude, good morning. >> we are seeing $71 a barrel for wti. it is the time spread that i want to keep an eye on because it is the real-time impact of the omicron variant. for brent crude on a one month to three months spread it shows you that the near-term premium for getting a barrel of oil is dropping and a lot of it has to do with worsening demand. a lot of it is tied to the omicron variant. if it goes negative and starts to signal that the market is oversupplied, the near-term demand is not as strong. the iea coming out this morning saying a new oversupply is being created and could get worse next year. on the surface it sounds like worsening demand oil prices should drop in theory. then you have opec, the saudi energy minister saying he is in munication with his peers and warning traders not to short oil because opec-plus could react quickly. this week is about the fed and the boe, but we have to keep an eye on opec

we got a negative yield in the bond market. the bond market has been funky. again, i am pretty good but i'm not that good and i thought the bond yield would be up to percent by now. along the way i learned my lessons. maybe push that out to next year. something is going on on the bond market and that as the stock market goes up people get nervous about having made so much money and they are rebalancing into the bond market. bond flows have been good. the bond market is probably going to up to 50, 75 basis points but that is nothing really. all this excitement about tapering is overdone. jonathan: thank you as always. ed yardeni of yardeni research. your 10-year up about 1%. that is been the story. matt mentioned the year but it is a macro economy. if i could offer you the outcome of next year, gdp, cpi, unemployment, the whole lot, could you call the market accurately? could you call the bond market accurately? given the experience of this year and the previous year perhaps not. kailey: things are hard to forecast in the pandemic era. even if you get the econ

any violations of any of the terms and conditions of the bond may result in revocation of bond. any questions as relates to bond for james crumbley? >> your honor, we have no questions, but i need to place one thing on the record. i am not asking the court to change anything. what i want to state on the record is i was not able to watch the entire press release. i have no idea there was a 4:00 arraignment. miss layman had no idea either. the media had so many reports of times. >> we're not going to get into -- >> i want to apologize to the court. we weren't aware. and also we faxed over appearances and no one told us hey, we're doing this at 4:00. we sent appearances late in the day. i just apologize to the court. we don't miss dates. so thank you. >> thank you. >> finally as relates to bond, in the event that the defendants do post bond, i am required they turn over any and all weapons to the oakland county sheriff's office. that must occur within realistically, i'm not sure what they have in their possession, if they're able going to be released if they post bond, i am going t

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up shortly. bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for bitcoin gets very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks, i've 10 countries suddenly follow suit. there's going to be very little bit coin around at these low prices, simon. yeah, you know, in this is just really a, you know, the next phase or so many people don't get. it's a bit coin because they have these perceptions. all of these attacks and you know, some of them of the government ban. well, in 2021, the government bambi came here. we got the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the fcc, which supports a big coin, features back exchange trade to fund. and now the most sophisticated finance pens

you have to be a little bit of trouble with investment grade bonds. on a high-yield, i agree right now. i agree with what james just said. probably a little overweight dividend stocks. they are paying decent dividends. that might be more interesting than high-yield leverage, but depending on what you are forced to do, i am more concerned about that area. it is more equity than investment. >> de worry about them acting equity like? >> what is interesting about 2021 is the one market that we have not spoken about is decoupled almost completely. it was a non-correlated anchor for the investment meeting. they have been a terrific asset class from a performance standpoint and diversification and non-correlation standpoint. i think that is probably a better deployment of fixed assets as a diversifier. taylor: when you say tax-free -- that is not the way to go. everybody will be sticking with us with one more segment still ahead. featuring some local pmi's. that conversation is next. this is bloomberg. ♪ taylor: time to take a look at what is coming up. th

and even quieter week for junk bond issuance in the u.s. a single offering from starwood properties raising close to $400 million. sticking with credit, earlier this week, bob michele said ditching government bonds and get back into corporate credit. bob: this is an opportunity to get rid of any remaining government bonds you have, and then go back into the credit market, go back into investment grade and high-yield. there may be some headwinds from the omicron variant. we will see over the next couple of weeks and months but for now corporate profitability looks good. i want to be a part of that. jonathan: bob is still with us along with frances donald and krishna memani. build on the why, when you have a rally on the screen. why rotate out of that and get back into credit? bob: i will take a page from frances' book. three hours ago, it looked good, maybe three hours from now those comments was to look good. if you are looking at government bonds today from where they were at thanksgiving, they are down about 20 basis points. look at inves

bond. this will be a quick presentation and following up on some questions that we had at our last board meeting. again, the focus of our 2022 geo bond is continued improvement on our transportation and transit system across san francisco. a key focus on reliability of the system both by fixing key infrastructure that we have in the system including investment control system and the safety of the transportation system through traffic signals, ped and meter corridor improvements throughout san francisco. just to update the board on where we are process wise, the m.t.a. board provided direction to us the staff amongst three options for the general obligation bond. that was option three which shifted some of the dollars from the transit component of the bond to the streets component pretty much matching what we had in the 2014 general obligation bond. today, we are asking you to adopt a resolution that would urge the mayor and board of supervisors to put this bond on the ballot in 2022. next m

bonds have lagged. onshore the notes around $.80 on the dollar, so there's quite a disparity there. it has raised a lot of concerns because it would be such a surprise to see any kind of real -- it's one of china's largest property developers by contractor sales. unlike the pricing was sought evergrande for example, it's not something that's been long in the market. until quite recently it still had a number of investment grade quality ratings. it has struggled in ways that are wearing the market. it's a little bit reminiscent of the fantasia surprise when investors are taken offguard about the difficulties there. paul: shimao said it is looking into market rumors that it blames for the selloff. what is it talking about there, and also the reaction we expect today? >> investors are looking for any kind of clarity. that kind of disparity suggests there's some information that global investors, there are concerned about obligations on repayment paving investors are still very much in the dark when it come

bond market, you have been wrong. the bond market has been highly predictive. it is a discount rate so if it stays this way, how much does it continue to be supportive of risk assets at a time even with inflation running hot which is the reason why so many people come on and say real yields remain perpetually very negative. much more so than ever before and will only go more so because of this dynamic that the fed cannot get out of. tom: i'm unclear on this, will it get worse as lisa talks about or do we actually get an improvement? in england, with 5.1% inflation how painful is the real yield? caroline: it continues to be an absolute, for my personal best person on the street perspective, it hits you hard in your wallet. we have an awful lot of debtors here in the u.k. who want to be more worried about where your mortgage rates go. focused firmly on where inflation is at the moment and that is where they tackle. they have been far more hawkish and moved inside the market yesterday. tom: an extraordinary week. i canno

consider buying a savings bond. in particular, the i bond bases its payout on the inflation rate. james royal's with bank rate.com. >> if inflation rises, the interest rate paid on the bond increases. if inflation goes down, they will readjust that way as well. the interesting thing right now with i bonds is that the inflation rate has been high in 2021. the interest rate on this bond has gone up. now they are paying about 7.1%. reporter: and that is a bargain. deposit accounts.com tracks rates and these on the screen are among the best it can find. less than 1% on savings accounts, cds, checking and money market accounts. so i bonds are paying much more, but like any good deal, there is fine print. the government restricts how many bonds can be purchased. >> the caveat is that unlike a lot of other bonds, you can only buy $10,000 per person per year, per calendar year. >> and if you want to buy this calendar year, 2021, there is another caveat. >> the last day of this year to buy series i bonds is 29th. december 31st is typically a bank holiday and the government needs time to re

the name is bond. james bonds. but what will the pronouns be after the producer left the door wide open to a gay bond, a transgender bond,. joining us, the author of county spider who saved christmas," raymond arroyo. the film maker in charge of the bonds franchise. she said i don't think we should be making films where women are playing men. then the podcast person, the reporter, what about a non-binary bonds, and she said who knows. i don't know how james bonds became the rorschach test. it's sort of a gender and race green eggs and ham. could bonds be a lesbian and a lush? ian fleming who created this character, wrote about his own experiences. he was a womanizing spy. the early movies follow that character. if you want to do something else write another story and make him whatever you want to be. jes. jesse: as long as they don't make rambo a lesbian. it's an airport situation obviously it's in an airport. this guy got booted. watch. red underwear hang from the face of this man as he walked off of a plane. the

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up shortly. bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for a big coin gets very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks, i've 10 countries suddenly follow suit. there's going to be very little bit coin around at these low prices, simon. yeah, you know, in this is just really a, you know, the next phase or so many people don't get, it's a bit coin because they have these perceptions of these attacks and you know, some of them, of the government ban will in 2021. the government band became a we call the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the c, c would support a big coin, features back exchange, trade to fund. and now the most sophisticated finance pensions

you see that in the bond pricing right now. for next year, i think there is reason to believe we can see some of those cyclical opponents of the economy do better, but we have to be a little bit humble around some of the risks that have, more recently, whether it is with the federal reserve, with the new variant. what we are telling you to do is to focus on the value and equality barbell and really look at some of those companies that have that pricing power and ability to pass on higher prices , and that is what we think investors should do for 2022. jonathan: good to hear from you. on the days coming up tomorrow and beyond, much more on this market. the estimate on the medium, 6.8%. can you imagine the sticker shock of 7%? lisa: what has been priced in, and how do you hedge against it? is the dollar? is it in inflation linked bond? is it equities? jonathan: i thought what gargi said about humility was important, that we just have no idea for next year. kailey: we have seen that born in from morgan stanley to others out to 500

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up. certainly what? bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for bitcoin gets very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks. i've tanner countries suddenly follow suit. there's going to be very little bit coin around at these low prices, simon. yeah, you know, in this is just really a, you know, the next phase or so many people don't get. it's a bit coin because they have these perceptions. all of these attacks and you know, some of them of the government ban. well, in 2021, the government bambi came here. we got the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the c, c would support a big coin, features back exchange, trade to fund. and now the most sophisticated

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up. certainly what the bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for bitcoin gets very compelling. simon, with these demand, i'm sorry. yeah. what these demand shocks. you know, if tanner countries suddenly follow suit, there's going to be very little bit coin around at these low low price assignment. yeah. you know, in this is just really a, you know, the next phase of so many people to get into bit coin because they have these perceptions of these attacks. and you know, some of them, the government ban. well, in 2021, the government became, you know, we got the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the fcc would support a big point, features back exchange, trade fun. and now the most sophisticated

the program has completed three bond sales to date and that fully funds the bond component. and however, i do want to spend a few minutes talking about numerous item that are added at the last presentation which is covid-19 related cost and timing packs. and since early 2020, the contract has had numerous adjustments in the field to implement protocols, masks, social distancing requirements and safety and oversight for the contract and safety officer to name a few. the actual cost and time impacts on the actual projects and based on what we have seen to date is not as impactful as one would have expected. and as the economy starts to recover, our projects building five have been seeing substantial cost impacts and increases on the bid prices on the trade packages that we are currently bidding out. costs were driven by material cost increases, supply chain shortages that led to volatile price increases as well as material delivery delays as i am sure everyone is hearing on the news and we have been strugging to solicit more interest to bid on our projects. in the discussions,

the bonds are tumbling once again whether it is there women be bonds. yesterday, we saw the dollar tank. this is what we are seeing today. does not look like we are seeing any let off. take a look at the stocks. you are seeing that contagion as well in the equity market. shimao downed. j.p. morgan said there were no concrete policy steps in terms of easing the property sector. that does not signal a 180 degree change. they figure getting things on the margin. affects approvals when it comes to dollar debt payment certainly helps in some ways when it comes to these developers. agile property. down 10%. acta the 2017 lows. shimao services, record lows. rishaad: bit coin tumbling. taking in losses to a fifth the week. take a look at what is going on. bouncing and coming back off the 200 day moving average. one stage, we were down 8.4%. looking also to some of these equities tied to crypto. these digital currencies drop overnight. bitcoin testing the moving average. little changed for a while. bouncing up. my next in japan. looking elsewhere at qb technolog

this bond will support that. the second category in the streets, the major corridors largely have to do with traffic signals. we -- we have some significant traffic signal projects teed up and they are significant dollars. we all know that the cost of signal projects has been going up. but we think that we can also leverage the sales tax program and essentially advance funds if the dollars are needed for project delivery. so the sales tax program actually gives us a lot more flexibility to bring dollars in if we need them if the project is ready. the geobond, if the project is not ready the dollars sit there and it's hard to move it to something else and then people ask us questions why are all of these dollars sitting here. and, tom, you might want to speak to this -- on the major corridor like fulsome project, that's three or four years of outreach and design and legislation. so i'll let him speak a bit to that. >> yes, thanks, jonathan. i think that the simple answer to the question, and this will be a little

rishaad: what are the implications for bonds for china ? >> bonds are very good hedge. it has a higher-quality but the structure is low down. the chinese government bond is the private hedge. david: what does it mean for duration and the pboc stepping in? >> now -- in the near term, it is going to be waving the range because they're going to have let of local government bond issuance. that is going to cap or the rates can go down to -- cap where the rates can go down. if you look longer-term where china grows at four to 5%, inflation at 2%. a lot for china rates to move down should rishaad: rma is going to be critical. is there a line in the sand? >> i don't think there is a line in the sand that if you look at what the pboc has been doing over the past month, when it reaches that level, they will start to intervene. the pboc would like to have a strong r&b policy. david: you see all the inflows coming in and the equity inflows. if we can make the assumption the worst is behind us, can we extend the exception -- the assumption to property credit? it seems to be on paper

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up. certainly what? bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for bitcoin is very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks? no. if 10 countries suddenly follow suit, there's going to be very little bit coin around at these low price, simon. yeah, you know, in this is just really a, you know, the next phase are so many people don't get, it's a bit coin because they have these perceptions of these attacks and you know, some of them, of the government ban will in 2021. the government band became a we call the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the fcc, which supports a big coin, features back exchange, trade to fund. and now the most sophisticated finance pen

i want to point out junk bonds. at the end of last week, they closed their third consecutive week of gains. it looks like some of those gains are coming out. hyg, they high-yield etf, down .2%. junk bonds seem to be a little bit of a haven here. you look at corporate america, fundamentals are still very strong. default at record lows. at some point, that will be a silver lining for the equity market, but not today. kailey: you are seeing a haven into junk bonds. you are not seeing a haven into treasury bonds. the u.s. 10 year is flat at the moment. what is the bond market seeing that the equity market isn't, vice versa? katie: treasuries, it feels like they have been following their own drum for a while. you are not seeing that haven bid. if you think about the variant and what that means for already stressed-out supply chains, the implications from inflation from that, that seems to be what treasury is picking up on today rather than an all-out haven bid. kailey: i am still the followed by the fact that we could be

at this point, i will address bond. first, i'd like to hear from pretrial services. >> thank you, your honor, address the record. miss gardner declined to speak with pretrial conferences. as a result, no references were contacted. she's 42 years old and married. her listed address is 112 east street in oxford michigan. she does hnot have a prior criminal history. not on probation or parole. does not have a history of documented violence. the charges are severe. those charges issued by the court. along with defendants, every defendant is afforded presumption of innocence. of the defendants are acting through their attorney and what the court issued. based on the defendant's attempt to flee prosecution. it is our recommendation that any release on the bail is not appropriate in this case, in order to further mitigate concerns for appearance of public safety. if the defendant is released the following conditions are respectfully recommended. pretrial supervision. and ability to leave work if employed. attorney visits. not

that's what bond futures are doing at the moment. we continue to get several fed officials supporting jay powell's call to speed up tapering. omicron variant is hanging in the air. a study showing the risk of reinfection from the variate is three times higher than for any previous strain. it comes as finland and others detect their first cases of the we tatian. in the u.s., the -- new york saw the most covid cases since january. many hospitals are reaching capacity. how prepared are we for this new variant? >> the situation in the u.s. is a little troubling because in some regions, hospitals are already dealing with rising numbers of patients with covid from the delta wave. we spoke to hospitals in michigan, massachusetts, and elsewhere where there is real concern that if this variant drives a new wave, it could be a bad situation. we saw the most cases of covid in new york reported since january. the jury is still out on how much omicron may or may not drive another wave. the scientists are still trying to tangle transmissibility an

dollars in the bond that matures next month and $10.1 billion in outstanding bonds. so there is concern because of the liquidity issues on the one front that these developers are having because of regulation and slowing contract sales in china. the other front weighing on shimao, why we see a downgrade from jp morgan as well as a bond plummet. monday, we saw one of its bonds plummet 50% in one day. that's because of concern about governance as well as the deal announced on monday by the services arm, a separately lifted unit. shimao property services announced a deal to buy another unit for 250 9 million u.s. dollars come a deal jp morgan says highly over values the purchase and there is concern that cash-strapped developers are starting to rob from the more profitable units to alleviate that cash crunch and that is why you saw the property management arm. they all plummeted by more than double digits in the pain continues in the sector. paul: that is just one of the big stories we will be watching out of china. we are expecting a huge amount of data today. what can

what is the bond market telling us? jonathan: the earnings for the equity market have delivered in a massive way. to say this is all about the fed, look at the earnings, it is not all about the fed. tom: i cannot say enough about the one-year year call, to your call, three your call. jonathan: welcome back. thank you for coming. lisa: [laughter] tom: i have more time off? jonathan: i have more time off. and then you are off afterward. i might not come back. from new york, this is bloomberg. ♪ ritika: i am ritika gupta. its highest level in more than a decade. consumer prices rose 5.1% in the last year. driven by gasoline and new cars. it might persuade the bank of england to raise rates. boris johnson had to rely on opposition votes to pass a key measure to stop the spread of the omicron variant. almost 100 members -- mandate. the u.s. house as voted to raise the nation's debt ceiling by $2 trillion. it averts a potential default. the senate passed a measure earlier and goes to president biden for his signature. the b

it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up shortly. bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for a big coin gets very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks, i've 10 countries suddenly follow suit. there's going to be very little bit coin around at these low prices, simon. yeah, you know, in this is just really a, you know, the next phase of so many people don't get, it's a bit coin because they have these perceptions of these attacks. and you know, some of them, of the government ban will, in 2021. the government band became a, we call the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the c, c would support a big coin, features back exchange, trade to fund. and now the most sophisticated finance pensio