tom: you want to talk us through that? tom: no, it is such a so barbara. it is way more complicated than the straight up reset to 15%. and the other, from deutsche bank, tactical layoffs. jonathan: i'm sure they feel super tactical. lisa: it'slisa: a grade. these are people's lives. we are seeing layoffs that were not executed during the pandemic era are coming back in full force. in deciphering the return to normal versus some serious cut back that is indicative of a changed economic cycle, difficult to know. jonathan: 5% of the global workforce, they are everywhere. company after company, in that industry group. tom: it is a pc thing. i noticed apple was a little light on that, apple saved the day. it is the ebb and flow out of the pandemic. let's buy pc's, everyone is work from home, that is over. lisa: there's a little more from this trend. dell is going back to the workforce it had in 2017. this is we ate -- this is pre-pandemic. we talked about this in terms of what kind of --is it pandemic or pre-pandemic as well? jonathan: five hundred 17 thousand,

tom: he was there. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. for businesses of all sizes, there are a lot of choices when it comes to your internet and technology needs. when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. >> the market was asked to start as soon as january, and it is clear that it was coming ended saying, -- and saying, "no, we are having a decent january." >> i would say that we are entering into the golden age of credit. >> this is bloomberg surveillance. tom: good morning. jonathan ferro, lisa abramowicz, and tom keene on your

tom: yes, continue. it's amazing the separation from bonds from the equity market. >> if we think about why we've seen the equity rallies to start this year come is because we so real interest rates fall. they started at 1.6% and fell to 1.1% but now they are back up to 3.5%. we have not seen valuations for these higher real interest rates so we've gone from 23 times on the nasdaq but now we are trading at 27 times. we think the real risk is back on the valuation front for equities because we are at the high end of stork arranges. lisa: whether the risk is in big tech or the broader index including some other names is a key debate. is this just in tech valuation risk or is this across the different companies that have rallied including materials and energy? >> if we look at the growth index, we are back at the height and of the pre-pandemic ranges but also at the high end for the value index because we have seen such a broad-based rally. it's really hard to make the argument that there is pockets of this

tom: help me, here. lisa: tom does not agree. tom: it is not that i do not agree. to be blunt, i grew up with it. to be as direct as i can, it is a balloon. it is not going to turn over montana and spy on the eagles training camp for the super bowl for the kansas city chiefs. it is a balloon. it floats over ferro's apartment in new york and a couple of days. it goes over the atlantic ocean. where does it end up? portugal? annmarie: i do not know. i am not a surveillance balloon expert. i do not grow up with it in the same way you might have. there are still --for the most part, when countries want to conduct surveillance over countries, they use drones or low-level satellites. jonathan: with drones. they use drones for training day. tom: i did not know that. jonathan: they do. to make sure people are in the right places. tom: amh killed it. jonathan: thank you very much. this is a tough situation. we have talked about it yesterday. tim cook is fantastic at navigating both sides of this. the china side and the u.s. side. it doesn't seemingly ever seem to get caught

tom brady. for america, it is a big deal. jonathan: this may not be a big deal for you -- tom: this may not be a big deal for you. jonathan: when mike mckee broke the number, and came back, i went straight to brady. tom: you did. jonathan: do you understand -- i understood the magnitude of the moment. lisa: you're going to leave now? jonathan: i don't believe he retired. lisa: i think you are right. i think he retired. jonathan: all right. [laughter] ♪ 202 pounds on golo.'ve lost so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your b

tom: excuse me. [laughter] this idiocy of now casting the beloved geniuses at cleveland who i adore for their work on inflation for 20 and 30 years, even they have dived into the value of now casting. is there any statistical value to navelgazing now casting? stephen: as economists, we have all been doing that to a degree. i do not like to advertise my number on a day-to-day basis but the one price we can track his gasoline prices. that is responsible for a good part of the high-frequency noise in the data. otherwise it is pretty tough. how do we know there is not going to be surprise on medical care? there are certain things we can track and others we cannot. jonathan: you keep that a secret? stephen: that's right. [laughter] i cannot show you everything. jonathan: stay close. stephen stanley of santander. mike mckee is our now castor. tom: road trip to stanley to spain. [laughter] jonathan: so predictable. tom: high speed rail. the three of us. jonathan: that works great. lisa: happy valentine's da

tom: he sounded upbeat and optimistic. he flagged another couple of rate hikes probably around the 25 basis point mark. he also said he does not expect to see it later this year but did sound optimistic and did not push back on the concerns around loosening the financial conditions. is this a fed that wants the markets to be second-guessing it? so far the response is risk on. that continues today. spanish ibex up five tens of a percent ftse 100 gaining 20 points. france cac gaining 5/10 of a percent. let's look at cross asset. a rally across the yield curve yesterday on bonds. yield curves came in double digits. we see that continue as well today. a move lower by one basis point on the benchmark of 340 paired it in close to 4% on the two-year. futures on the nasdaq looking to further gains of 9/10 of a percent. at least 13% as they gain for the nasdaq year-to-date. tech rallying. the meta-story was a big part of that. will break that down for you later. the euro currency dollar 109. we will hear from madame lagarde. we wil

tom: dr. mohamed el-erian right on top of the syndicate article really mentions transitory is back in some way. it is not the same as the we have him put five your sicko but michael darter was elian the -- we had a 1.5 years ago but michael darter was elegant on this. -- to get down to the transitory outcome. jonathan: his sled with this idea that it is not a harley dilly or soft landing no landing at all. he said inflation is going to be sticky and the fed has more work to do and more demand destruction if needed. that is the base case where the slog at apollo. lisa a: this is what i was thinking about last night. it is no landing wonderful for risk assets or not? or is it a transfer of some asset price inflation to an economy that is really transferring the strength of the economy rather than the asset price inflation because you will see margin compressions and also in the corporate community that might not lift to the same degree. tom: we do not have the time now to go into that but it is

tom: very true. jonathan: that is not the story today, yields up, treasuries down, and equities are doing ok. on the 10 year, we are short of 3.95. coming up, leland miller of china beige book book international. that is next. ♪ lisa: keeping you up-to-date with news from around the world, with the first word, i am lisa mateo. janet yellen says the global economy is in a better place today than many predicted months ago. in a press conference at the g20 minister meeting in india, she pointed to resilient u.s. economy and moderating inflation and reiterated her calls for support to ukraine as the one-year anniversary of russia's invasion approaches. thank of england policymaker catherine man dismissed talk of an upcoming pivot to easier monetary policy. she spoke in london. >> given that the risk of increasingly persistent inflation rises disproportionately with a share backward looking this, i believe more tightening is needed. lisa m.: consumer price growth remains at a four decade higher 10.1%. h

>> stephen: the tom hanks. >> tom: well, let's go with that. but confess. it's pretty good. >> stephen: it's really good. it's strangely, strikingly, shamefully good. because it's so refreshing. you give that little caffeine too. keeps you going to that champagne. >> tom: that's right. you'll polish both of them off. a six-pack -- >> stephen: oh, i can finish a diet coke. >> tom: and the magnum. >> stephen: i am no lightweight. i can finish a diet coke. >> tom: two-fisted coke drinker. i love it. >> stephen: we've got to take a quick break. we'll be right back with more tom hanks. i can't believe. this all-new ariya is an elegant ev. yeah, with 389 horsepower. ♪♪ and all-wheel drive. ♪♪ it's beautiful. it's a beast. it's electric. with an edge. oh, let's go with that. ♪♪ hi, i'm ron reagan, an unabashed atheist, and i'm alarmed, as you may be, by the intrusions of religion into our secular government. that's why i'm asking you to join the freedom from religion foundation, the nation's largest and most effective association of atheists and agnost

tom: i spoke with mr. rubenstein after the interview yesterday and i mentioned him three times because the inside was a four pointx percent treasury. with a vengeance, things cost money now. that's what we are seeing. jonathan: you say let's by the front and and take 50 and run for the hills. what we heard yesterday is the reinvestment risk one or two years down the line, can you pick up 450 words you have to take the original -- additional risk and more risk? that's the kind of decision you have to make looking at next income at the moment. lisa: especially if you buy into this rapid inflation. a lot of our guests seem to think that duration had been overplayed. they were a little less confident going into 10 year treasuries at 3.5% than they were a couple of months ago. maybe the reinvestment risk of not being in a longer duration instrument is not as great as it was a few months ago. jonathan: equity futures are down about a quarter of 1%. people still don't know what you're are talking about. do you wa

tom: bloomberg surveillance. lisa abramowicz and tom keene. jonathan ferro in preparation for the 9:00 hour. in the economic formula there is everything domestic than there is foreign which hats to do with imports and exports in trade. it is time to firm up the trade side of things. we do that with michael mckee with data that is important all of a sudden. michael: is important because it is a component of gdp and does suggest gdp baby smaller -- may be smaller than it was in the now cast. the advanced trade balance from january comes in at -91.5 billion, down from 89 .7 billion in december. it looks like that widened a little bit. wholesale inventories fell .4% which suggests fewer imports came in and retail inventories rose 5.3%, less than in december but more than forecast. we still have some inventory built. the most interesting thing is this wraps up the january data. now that we are in march we will start to get the february data, which is what will play out. tom: let's go to mere mortals like stephen stanley at morgan stanley. or steven

tanate: thank you very much, tom. it has been an exceptional year from on operating environment that has been very difficult. difficult contacts, we are very pleased with the results that were recorded into four -- q4. net interest income is up 17% year on year. that has been a big driving force in terms of the strong profitability we have seen along with cost discipline and very modest responses in the quarters. all in all, very robust results. tom: a sweet spot in terms of the rates that you charge on loans and the rates you are offering on deposits at how long do you think that continues? are you under pressure to increase what you are seeing? tanate: i think the fact that the ecb will have another announced rate hike, i expected 50 basis points today and continued rising rates, means that our deposit margin is expected to continue to rise in the coming read. at the same time, we see that loan margin is somewhat more compressed than what we have seen in the past. we still do expect quite strong evolution of our inc

this is bloomberg. ♪ tom: welcome back. anglo american has posted a slight beat on earnings for the year, despite joining its peers seeing an overall drop in profit. the mining giant also reported a $1.7 billion right down on a u.k. fertilizer operation. we're joined now by duncan wanblad, ceo of anglo american. good morning, thank you for joining us to talk through these results. let's start with some of the production issues the company has faced over 2022. whether that is in south africa, australia with the flooding, or south america. do you see those production issues continuing this year? what is your confidence you will hit this year's target? duncan: morning, tom. banks for having me. absolutely. a very volatile year in 2022. a lot of it led by the fact that coming out of two years of covid, mines were in a position where they had gotten out of shape, so we needed to reshape that. that all happened during the course of last year. but of course, we have the confluence of some extreme weather events throughout the year

tom: is what we do. we will work through the weekend to next week, which will be interesting without jobs day delay. another week of weirdness. jonathan: futures negative. dan 10 about in the studio, up next. leigh-ann: -- lisa m.: it has been one year since russia invaded ukraine. the u.s. and other g-7 nations will mark the occasion by imposing more sanctions on russia. the defense, energy, and metals industry will be targeted along with financial institutions and more than 200 people and there is likely to be a crackdown on those who help russia evade sanctions. pull it will begin sending german built tanks to ukraine today. the polish government has promised to deliver 14 of them. earlier this week spain said it may increase the number of tanks it is sending from six to 10. illinois governor says he is willing to spend what it takes in the next election to help president joe biden his job. he told bloomberg he wants to keep republicans like donald trump ron desantis out of the white house. he is a me

tom: moving from the u.k. over to the u.s., what is the next step you plan to take to grow your presence in the market share in the u.s.? zeno: we have completed two key steps in 2022, digested and consumed the acquisition of sfa. that acquisition has been completed. we are up and running. we have the largest leading sec investment advisors serving u.s. clients. we are at full swing there. on the asset management side, we have the ability to have all of our products globally be produced in the u.k. or switzerland to put them at the disposition of clients. we have already warned the first mandate. we are up and running. we have all the tools we need to make a significant impact in the u.s.. francine: we are trying to figure out the pitfalls to some firms, do you have any exposure to kobani? zeno: no. francine: to think it could be a systemic risk at some point or are you confident you will get through it smoothly? zeno: this is not the systemic question. we may pause questions for individual players but i assum

tom: oh no. i will drive up to providence and have pizza with professor schiller to make up with that. jonathan: deere is a beat and a raise. they now see full year to $9.25 billion. our story, you want a headline from our story? deere lifts outlook as farmers overhaul aging fleet. tom: john deere 10-year, 19.56%. jonathan: the stock is up 3% in the premarket. tom: they make a good zamboni. jonathan: simon french is coming up. ♪ these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today. as a business owner, your bottom line is always top of mind. so start savin

tom: huge. the person i really lean on on this with his international work with nato says that this is a treasure trove of intelligence data that we will get. jonathan: what is amazing is that the aerial objects over the weekend, we do not know what they are. tom: it could have been a party balloon. lisa: they are not party balloons. people are saying that they do not appear to be from china. jonathan: you have the military shooting down things in american airspace and we do not know what they were and it is kind of nuts. you can shake this off as balloon gate and laugh about it but it is serious stuff. tom: it is. let us migrate onto other topics. jonathan: lisa is laughing about it. tom: harry higgs is too. lisa: we had a serious discussion about aliens with his humility -- with this administration and this is hilarious. tom: sturgeon is shocking westminster and exiting. we are going to go to terry, founder of pangea policy in washington. i am not going to mince words and my amateur take is th

and tom's mother sandra. it was a catch 22. so time to get creative. >> it had been my experience when i had work in the narcotics section of the sheriff's department that often people throw away valuable evidence. >> doug asked his fellow detectives to help him because he decided to search schrauben 's garbage. so >> what did they tell you when you came up with that idea? crazy? >> i think they really thought that i was starting to lose it that i wanted to dig through someone's trash. >> so faithfully once a week on pickup de d'agata a daybreak in an hour-long journey in schrauben's neighborhood. where a trash truck -- >> we would have the dump truck trash in somewhat of a pile here regardless of the size. >> right on the turmeric? >> right on the tarmac. scattered everything out opened every bag. get down on our hands and knees and slowly shift through every piece of paper that looked like it might be a document of some kind. >> and that's how doug's team found this coffee stain phone bill. showing call aft

tom: when they raise it 10% and show record profits. say something, tom. jonathan: futures don't 8/10 of 1% to kick off of new week across the board here the data improves on the services side once again 387 from new york, this is bloomberg. >> keeping you up-to-date with news from around the world with first word, i'm lisa mateo. vladimir putin has delivered a message on at the war on ukraine the first state of the nation address putin vowed to continue the invasion until russia has achieved its goal. he also threatened backlash if the u.s. and allies supplied ukraine with more long-range missiles. president biden is seeking dividends from his surprise trip to ukraine. the president hoping to rally support as he meets with eastern leaders in poland. shortly after a visit to ukraine, the u.s. announced $460 million in new military aid. china is urging the world to stop -- certain countries should stop fueling desire by blaming china and is saying ukraine today, taiwan tomorrow. beijing has been trying to distance itself from russia. in turkey a pair of ear

well said, tom. you did great. tom: this is a joy. one of the jewels of the bloomberg terminal is btmm go. it was religion when there was gravity in the market. you would go there many times a day. jon, we are there. jonathan: what did you learn from that? tom: there are real rates, higher rates. all of a sudden there is a changed attitude with a lot of younger people never witnessed before. jonathan: is the volatility from last year going to come back? tom: i don't know if the volatility will come back. it's a whole new world after all. we are back to world before harry styles was in one direction. jonathan: 2010? is that the marker? tom: i'm sorry. it's a whole new world after all. we are back to what we remember a long time ago? >> we have yield to get in the bond market. u.s. ig, looks so attractive to where we were for most of the post gse decade. tom: david lebovitz called it a dead cat bounce. winnie: i don't want to call it that because we had targets for forecast. i have validation thereafter people were telling me they were

tom: absolutely. jonathan: are we going to find out conclusively three years later? it will be difficult to work it out conclusively. tom: from a medical standpoint, it has huge validity because if there is any microbiology learn from it, that is something you have to go after. jonathan: dear remember when this was a conspiracy theory and now it is something we are openly discussing -- do you remember when this was a conspiracy theory and now it is something we are openly discussing? tom: is like the fed minutes. jonathan: i am at that confident at all from the fomc. annmarie, thank you. let's talk about the degree of confidence the fed has. i imagine for chairman powell his confidence is taking a real bruising over the last month. does the ark of his communication. think about disinflation and and then the data hits. tom: breaking up monday, what do need to know? the singles tell is the 2-10 in version is up at a new low, -90 basis points. ira jersey and others aggressively called for this unthinkabl

tom: cautionary tale for the spd. let's check on stocks on the move with joe easton from our equities team. >> we are starting off today looking at the u.k. homebuilders sector, they are dropping, here is person on this -- persimmon on the screen, down 1.8% after deutsche bank cuts it to sell. they are worried about valuations coming up too much as interest-rate worries these, they say that rally is overdone. staying in the real estate space but going to sweden, one of the biggest real estate companies announcing a $1 billion right's issue. that is hitting that star, it was down 8% earlier. now down 4%, but one of the worst performers on the stoxx 600 given they need extra cash to deal with higher rates hitting the real estate sector. coming back to the u.k. but going into the tech space, an unlisted company called kape technology, the founder will buy that company for 285 pence a share. he also owns camden market. that stock trading above the offer price. the final one i'm looking for, payout, the french -- orpea, th

tom: at my children. jonathan: i have no idea how we are getting through to the ecb news conference at 8:45. it begins with --kit juckles coins is now. your response to that decision this morning from the boe? kit: yeah. it is not a massive surprise. we are looking for another 50 after that. it does sound more upbeat. one of the big surprises at the back end of last year across europe was when energy subsidies came in people did not move their growth forecast up. the consumer got protected from the worst of the energy crisis. figure trade deficits in the u.k.. -- figure trade deficits in the u.k. coming -- bigger trade deficits in the u.k. what surprises me is how well the european industry is doing weaning itself off gas. it probably means the u.k. has a longer but shallower recession that anyone else -- than anyone else. what is it leave the bank of england? more to do but with the recession and maybe the only thing for the currency that's important is that everyone is so bearish that it has a cushion.

tom echo -- tom? tom: we have focused on some of the defense stocks for you, given the news that the europeans are working potentially on a plan on joint ammunition purchases for ukraine. dassault again a .2%. for ratio has gained in the back of a strong set of earnings. gains of 3.7%. analysts are saying that they are pretty impressed by the cash flow for this company. this is the maker of auto parts and that is pushing the broader auto sex dirt -- sector higher. iron ore, copper, aluminum gaining on the back of expectations of strong demand out of china. as well as cuts to some of the inventories and china on aluminum. rio tinto gaining on the back of that a little over 1%. coming up, manchester united one yesterday but will the qatari street billion air jim ratcliff in the battle to by the red devils? we will bring you that story next. this is bloomberg. ♪ tom: welcome back to the open. gains of just under .3% across the european benchmark. futures and u.s. down a little over .1%. cash equities a

tom: really fascinating. we will see if it gains more traction, the benefits for both employees and employers of the four-day workweek. we need to get back to markets. pacifically, the credit suisse story, that stock now down 5.3 percent, on reports from reuters that regulators in switzerland are probing comments made by the chairman back in december around outflows from the business having stabilized. we will bring you more details on this story in the next hour, but the stock is taking a significant hit in the session today. the broader markets risk off firmly, down .9%, losses of more than 1% over on the dax. futures also sharply lower in the u.s., down by .9% on the s&p, yields are up five basis points on the five-year, 4.66 on the two-year, the dollar is gaining again, up 2%. plenty more coming up. "surveillance: early edition" is next. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcas

jon: did you see what spielberg said to tom cruise? tom: no. jon: the top gun maverick may be saved the theatrical side of movies. that was a quote from spielberg and that is paramount for. tom: pluto tv. jon: i got no idea what that is. tom: paramount plus have the soccer games i don't watch. jon: i mentioned this in a break, a weekend to start watching yellowstone, billions. i'm late to this i know. i wanted to find season one, it was on peacock. the latest season was on hulu and i cannot find it on paramount plus. and it is made by paramount. can you make -- i don't get it. tom: is peacock paramount? lisa: no. tom: they are separate. jon: they are separate. [laughter] tom: the look at me like that. they are watching yellowstone and i'm watching jelly stone. jon: it's a problem right now. tom: it's a big problem and we will get a brief on it. our next guest joins us and is in charge of streaming it is see a bloomberg how big is paramount plus? are they like to netflix, teen sweets, are they in the game? >> paramount plus, no, they are nowhere

tom, francine? tom: coming up our conversation with the uae's energy minister. his thoughts on oil supplies, europe's energy crisis, and recession risk. stay with us for that interview. this is bill burck. francine: welcome back to the open, everyone's. look out for the bank of japan and u.s. api and stocks are gaining ahead of that. point 3% higher for european stoxx 600. tom: brent $86 a barrel on the u.s. plan to sell more crude from reserves offsetting a gain from russian output cuts and rising chinese demand. our fellow anchor manus cranny spoke to the uae energy minister, suhail al-mazrouei in dubai. he responded to concerns that china is -- china's reopening will throw global markets out of balance. suhail: the decision that we took has been effective in balancing the market and ensuring there is enough supply. you need also to be mindful of the slowdown in the economy of the fact that we are not getting the pace back to where we used to be before the pandemic in terms of economic growth across the globe. manus: that's a global perspective. i want to get

tom: tom metcalf. it's a fascinating story. sovereign wealth funds expand their footprints in the global financial world. let's check in with individual corporate stories above and beyond and are chartered which is soaring on the back of that bloomberg scoop. siemens gaining as well up 7%. they raised their guidance for the year. margins for the industrial part of the business above 15%. credit suisse a different story down 5%. they are expecting substantial losses again for 2023. credit agricole, there was a beat on earnings. the trading part of the business doing well for this french investment bank, gaining 4% in the session. that is it for the european market open. surveillance early edition is up next. you are seeing gains in european equities of seven -- .7%. the dax up more than 1%. as is the ftse 100. the pointing to gains of .8%. stay with us. this is bloomberg. ♪ these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we

tom: i will give it the tom keene skim. [laughter] jonathon: they asked for the impression of chairman powell. then, they said to look to the fed minutes. he said to look to the fed minutes for the discussion. now, a lot of people are going through the fed minutes as part of a scenario analysis. what will they do it this data picks up aggressively, and is there any insight to come out later? lisa: to tom's point, that is kind of ridiculous because reaction changes every week. we can game out what they're going to do, but they are going to do what they want. that said, they can get more of an impression from the minutes. jonathon: you are suggesting they can massage things a bit. lisa: i'm not the only one. they can emphasize certain points. they could potentially limit reference to those voting. [crosstalking] tom: i'm sorry, 4.00 10-year yield is a big deal. jonathon: we are getting closer. tom: it is the whole curve lifting. this is not spread dynamics. on radio, this looks good. my first exercise i do was done 35 pounds

tom: welcome back. sweden's northvolt is considering postponing as planned factory in germany, potentially turning to north america instead. the battery maker will move to the u.s. if europe does not bolster subsidies in response to be biting inflation reduction act. we spoke exclusively to the company's ceo. >> we have done a calculation that if we would start tomorrow building a factory, fully built out in north america, to be ready by 2026. between 2026 and 2030, we would be looking at somewhere between seven to 8 billion dollars in these credits. and of course, that's a very large amount of funds. >> is this setting the u.s. up to be an ev superpower? >> it is clearly driving the investments now in a very rapid pace. we're seeing both that on the customer side, that there is a strong momentum change where the expectation either on the demand side. whether on trucks, buses or vehicles is moving very rapidly upwards in north america. and it's because of this. then you are seeing the supply chains. you

tom: welcome back to the open. happy tuesday. we are 40 minutes into the european trading day. let across the benchmark. in the u.k., the ftse 100 gaining .3%, oil is a factor, energy as a sector across europe is the leading sector at this point. real estate down .5%, the biggest loser across sectors, oil is rallying leading to a share search in bp. futures in the u.s. down almost .2% as we look ahead to the speech by fed chair jay powell. tom: for more let's bring back virginie maisonneuve, global chief investment officer at allianz. when you look at earnings season, we look at margins and because cut pressures, but also banks trying to give back as much as possible to shareholders, is this what will make the difference between something you want to own or not in the next 12 months? virginie: that's definitely an impact, the dividend aspect, and companies who can reward investors with all of the dividends -- with quality dividends. we want to look at the asymmetrical impact of inflation. so, net revenue probably b

tom: thank you. coming up, we will bring you the latest on the latest unitary in an economic impact of the massive earthquakes that hit turkiye and syria a week ago. we will leave you with live images from turkiye near the epicenter. this is bloomberg. ♪ tom: welcome back. let's get the latest from turkiye. legal activists have accused the government of destroying evidence while quickly demolishing estate office that stored concrete samples and files related to collapsed buildings. the government denied the allegations. nearly 35,000 people are now confirmed dead after the earthquakes a week ago. joining us is our correspondence. what is the latest on the ground? >> more than 35,000 people confirmed dead on the turkish side and syrians i. 30,000 of the people are from turkey with up to 80,000 people reportedly entered. and of course thousands still missing. even though it is far and few between, we are still getting some people rescued from under the rubble. dozens of rescue teams from internationa

brooke. >> tom: very nice, judge? >> judge jeanine: i don't have a middle name but for confirmation that they gave me a nickname. so confirmation come i took my mother's name which is esther. because i always use jenny shin pyro and i use that for years. >> tom: at the same with me. we did not have middle names in my family and we waited for confirmation and mine born on the feast. >> judge jeanine: next one. >> tom: facebook and cindy w, what is something that you must have to consider proper, junk drawer. you looked confused, judge. >> judge jeanine: there is so much in my junk drawer. pens, rubber bands, keys that you don't know what belonged to. >> tom: cards? >> judge jeanine: index cards. >> jessica: i also need spare car keys. our that tape. >> tom: where's my emergency -- [laughter] like a greeting card. >> yes, i've got to write a note and i have to be a classy lady. taper wrapping the presents and wipes. not clorox but what you put on your face appeared like a bag of wipes. >> tom: jesse, you don't think mak

tom brley choseto gto law sool. (woord) tom brady's joury began in t segregad south. rn in caert, tex 1917, his rents we shacroppers. higrandfatr d been alave. (bdley)i recallhat i woed all d and stilcouldn'till cotton sk. that w enough impresse. th was no fe for m oodard) his mily jned the eat gration africanmericanswho fl the racm d povertof the sth for the eam of aetter li. ving wesprovided an opptunity one ver had the sou. if you we lookin foa future s angele waa mecca r you. dard) m bradlewas seveyears ol when hisamily rivedin los aeles. (jimen y west) for m bradle even thgh thafrican-erican cmunity lived inegregad communies, they'rachievg gher education they'rbecoming skild tradesmen, the's a ve high ba of eectation about at you c do, whatou can aieve and who u can be lkins)tom waa uniquendividua all-ci footbalplayer tackle. he was identified at an early age as a potenal leade (woord) adley woa track holarshi tocla, ere was one of oy 55 afran-amerins a stude bodof 7,000 whilucla wcomed giftedlack athtes, racis

tom, francine? tom: let's check in on u.k. assets moving on the back of the news that inflation came in slightly softer than egg active. still 10.1% but you have the yields and gilts moving in sharply. currently a move lower by 12 basis points, three point 38 for gilts. that is contraction by 12 basis points the pound remains under pressure down .6 percent. u.k. assets a reflection of the earnings story then arguably the inflation print currently. they are range bound on the ftse 100. francine: coming up, we get the latest on chinese data breach at asml. we will look at chips and what that means for the future. this is bloomberg. ♪ francine: welcome back to the open, everyone. 52 minutes into the european trading day. across the board we have a mixed bag. flat for european stoxx 600. investors are trying to figure out and way up the impact of the latest inflation data from the u.s. and the u.k. and what that means for the outlook on interest rates. they digested earnings from major companies including barclays. that stock do

tom, what are you looking at in the markets? tom: i'm looking at asset prices in japan. in europe losses of .5%. strong selling in chinese tech stocks listed in hong kong adding to the negative view as we close the week out. down .5% across the benchmark. some interesting moves happening in energy. i will break that down for you shortly. the dax is currently down 49 points off by .3 percent. the ftse 100 down 20 at .2%. we did manage to dodge a recession but the data for the month of december coming in sharply lower than the estimates , down 0.5% suggesting it will not be long before we are officially in recession here in the u.k.. let's see how things are working out across the sectors. brent oil up on the reports me out in the last few minutes. russia is planning to cut its output from march by about 500,000 barrels a day. russia is saying they will not comply with any western price cap. that is feeding through to the energy sector gaining .4%. the best sector of the session today. on the bottom of the list you have consumer products. technology around -- yields are hi

just a tom, no other toms, just a tom and that's it. this movie of yours, you play a -- a series? >> yeah. >> jimmy: you play -- it's a '70s rock band. >> yeah. >> jimmy: which is fun just to start, right? i mean, pretending it's a real '70s rock band. >> yeah. >> jimmy: your character is named camila. is that coincidence? or was that done for convenience? >> well, i will only ever do it l.a., "camila," everybody's got their character names and i'm posing in front of all my posters. >> jimmy: wouldn't it be fun if that was your demand? every movie you're in -- >> has to be my name, yeah. no, it was written like that in the book in taylor reid's book. >> jimmy: oh. >> "daisy jones and the six." i just got lucky. >> jimmy: fun to shoot, i guess? >> like adult summer camp. we got to go back to the '70s. cars and aesthetics and clothing and music and original music and it's cool. >> jimmy: it's great to have you here. >> thank you. >> jimmy: i would say, maybe don't take your sister swimming. [ laughter ] >> what's the fun of being an older

tom? tom: thank you very much. let's take a look at where european markets are trading as we head to the close and the end of the week. of course a turnaround across the european benchmark on the back of the day for the k-3 from the u.s.. the heavy lifting is done by the ftse 100 which has rallied in terms of the session. you see gains of .3%, holding above the 460 level as we head toward the closed let's switch it to see how things are playing out across bond markets. we were discussing the ecb a few minutes ago with of course laura cooper of blackrock suggesting her view you could get to terminal rate around 3.25% from the ecb as they weigh out further hikes to tackle inflationary picture across the eurozone. were acting after yields came in sharply yesterday, yields turning around today up 11 basis points, the selloff across the benchmark, german bond into 19. let's look at individual corporate's playing out. the apple story was big overnight and that stock is gaining. st micro in europe, based in france, has bi

¿cÓmo serÁ recordado tom brady? por ser el mariscal de la franquicia mÁs ganadora, en las Últimas dos dÉcadas, donde junto al entrenador se convirtieron en una verdadera dinastÍa, una dupla de oro, con seis trofeos, luego, contra todo pronÓstico, llegar a tampa bay, donde tom brady lo hizo de nuevo, y se ganÓ su sÉptimo y Último superbowl, el quinto jugador mÁs valioso del supertazones, cinco veces lo hizo, tiene mÁs anillo de cualquier equipo de la nfl, escuchen esto que hizo en 23 temporadas, tom brady tiene siete anillos. un jugador conmÁs anillo que muchas franquicias. increÍble lo que dejÓ como legado tom brady dentro de los emparrillado, increÍble, mayor nÚmero de victoria,mÁs campeonatos con siete en la historia del deporte, mÁs apariciones en supertazones con 10, tambiÉn lo tiene tom brady asÍ que espectacular lo que nos deja el mÁs grande de todos los tiempos. si me preguntaban si esta es la realidad, creo que ahora sÍ, sus 45 aÑos tiene que decir adiÓs. en su mejor momento, porque a

tom: gunfire between afghan and pakistani border forces. a major crossing for trade and trav betwe the countries has been closed. what's causing the latest flareup and how will it affect people on both sides of the border? this is inside story. welcome to the program. the main crossing between afghanistan and pakistan has been closed for days and border forces on each side have exchanged fire. the incident is the latest in a series of flareups between the two countries. afghanistan said it shut the border on sunday after pakistani security officials reportedly prevented afghans seeking medical help from entering. that is after pakistan tightened security at its border crossings. dozens of vehicles carrying travelers and goods are stranded on both sides of the border. traders and businesses are facing mounting losses. in the last few months, the countries have closed the crossing many times and violence has often broken out. pakistan and afghanistan share a border nearly 2000 600 kilometers long with 18 crossing points. the one -- the busies

tom, at one point you mentioned. with good reason the fact that there were two halves to america as it was trotting along create the freedom and liberty. what do you think is the lesson we should take from what you have said about the history of the united states coming together despite those divisions all along from the beginning and sadly to now? well, i think the big is that don't despair. we're going to do this once again. it gives us hope to look at our history. but it also it reminds us of of of of what the true measure, i guess you could say, of patriotism is. and and and we should be mindful of the appropriation of all these popular terms to make sure that they are are called out when they're being, let's say, mis or something of that sort. but absolutely, we've had difficulties from from day one. i mean, going back to the creation of of of the party system for heaven's that was called factionalism back then. so there was a thought when we first got started that we're going to be parties that was going to be

with tom mackenzie. tom: asian stocks and u.s. futures fall as investors wait for key inflation data. for clues on the fed's rate path. the nominee to become the next bank of japan governors says policy normalization will need to be considered if the outlook for prices improves. >> and we are live in kyiv 12 months since russian troops rolled across the board are here into ukraine. we will talk about the path out over the next year and what has happened already this year. francine: we of course look at kyiv, the 12 months since the invasion, the energy complex, and we have data out of the u.s., we have pce and futures numbers are pretty much flat. tom: we know how important it is for jay powell. let's check in on markets, give it a few seconds to register the data. the pce number will come through around 3.3% year on year, the importance of the gauge of strength of consumer prices, the labor market, all feeding in to that pce data. jay powell, giving the guidance. the market pricing a terminal rate of 5.3% by july. the ftse 100 ga

tom. _ road. ok, thanks for highlighting that, tom, that— road. ok, thanks for highlighting that, tom, that is _ road. ok, thanks for highlighting that, tom, that is really - road. ok, thanks for highlighting i that, tom, that is really important. and amanda, you want to talk about aland and amanda, you want to talk about al and the fact that very soon, ai and the fact that very soon, potentially, one of the most important skills we can have is being able to talk to ai? tell us, for the audience who don't know what we're talking about, what we are talking about here.— talking about here. artificial intelligence. _ talking about here. artificial intelligence. we _ talking about here. artificial intelligence. we are - talking about here. artificial intelligence. we are having| talking about here. artificial- intelligence. we are having this whole _ intelligence. we are having this whole conversation about whether google _ whole conversation about whether google searches using artificial intelligence to bring back search engines— intelligence to

tom: the u.s. justice department is for more men has been charged with criminal offenses in connection with the assassination of the haitian president. they have been transferred to american custody after being detained in haiti. he was assassinated in his home in july of 2021. the prime minister took over the country the same month and since then, gang violence has escalated, leading to a rise in kidnappings and killings and a major humanitarian crisis. mike hanna has more on the arrests from washington. reporter: these four men who have been removed into custody were arrested shortly after that assassination. among them is a man according to the charge sheet who had political ambitions. it was that he hoped to replace the haitian president and he then switched to support the allegation reads to a former haitian supreme court judge. that judge is not named in the indictment but according to the charges, he provided this group with a letter asking for assistance as well as promising immunity. these

brady diet besides tom brady. founder of out kick.com, so the speculation is now officially over. he says tom brady has said i am retiring again for good because last time he retired and then on retired. un-retired. speak of this video feels different than the way the last retirement last year leaked. i am frankly surprised that you mention his parents were at that final game in tampa bay when they lost in the postseason, he did not necessarily play very well, but in his final season the bucks certainly didn't have the season they had been hoping for. i am surprised primarily because we all know the divorce with giselle happened and tom brady is a creature of habit. and suddenly he is going to have a completely different life now. a different life than he had just year ago, right? where he is still with giselle, they live together, they've got the kids, it seemed like his decision to un-retire and come back it was a precipitating factor in that divorce certainly we have no idea for sure, but i am surprised he woul

tom, i was going to turn to nick next. but let's stay on this topic for a second because i was going to ask you about the normalization process, the abraham accords. do you want to speak on iran and what you see from your vantagepoint? mr. nides: when people talking about ripping up the jcpoa, you could argue, are we in better shape today than we were in three years ago, four years ago when we wanted to keep the agreement? the answer i think is probably no. i mean, iran is, if you believe "the new york times" or "washington post," is pretty close to breakout if they wanted to, there's no question the situation on the ground in iran is complicated. the economy has not collapsed contrary to what some people would conventionally believe. there's still funding the proxies which is dramatically problematic for us. but the president has been very clear from the get-go, he will not stand by and watch iran obtain a nuclear weapon. so we're doing everything we can to make sure that doesn't happen. and you know, we're working with i

he is also talking tom brady. >> well, of course everybody knows tom brady announced a retirement redo this morning. exactly a year after he retired the first time. last year, he and wife gisele ended up splitting after tom's return to football. so now that he is done, quote, for good, how is it going to impact tom's future with his three kids and his ex-especially now that gisele has responded to the news? we're going to get into it all tonight. we're also with tom on the 80 for brady premiere where we have the ladies reading their own tweets. >> can't see the rest of the red carpet because rita moreno is too smoking hot. >> oh, who said that? she was down for that. there is more where that came from. moments away on "access hollywood." back to you. >> all right, mario. that's going to do it for us at 7:00. for everyone here at nbc bay area, including our manager editor keith berry, thanks for joining us. we hope you enjoy your evening, and we'll see you back here at 11:00. ♪♪ want more from your vitamins? get more with nature's bounty. from the first-ever triple action sleep supp

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