the move falls short of the l but the move falls short of the us —led but the move falls short of the u.s.—led boycott of the moscow games with team usa act —— athletes pulled from the competition.— athletes pulled from the competition. athletes pulled from the com etition. . , competition. the athletes will be participating, _ competition. the athletes will be participating, we'll - competition. the athletes will be participating, we'll be - be participating, we'll be rooting home. iam in olympics obsessed person so i am looking forward to doing that but i think this is an indication it cannot be business as usual, that not sending a diplomatic delegation sends that message. but is beating paying attention? judging by the reaction of the foreign ministry in a press conference prior to official confirmation from the us, labelling it wishful thinking, grandstanding and politically many —— many live, the answer is yes. translation: what the us should do is corrected its attitude, practice a more united olympic spirit and take china's concerns seriously. not politicised sports an

well, china's embassy in washington reacted to the u.s. decision calling it "a pretentious act" and "political manipulation". in a statement they said that it's a grave distortion of the spirit of the olympic charter but it would have no impact whatsoever on the successful holding of the games. there have been numerous calls for a partial boycott of the games, most of them over the treatment of the uighur minority. here's the white house press secretaryjen psaki explaining whyjoe biden felt the move was necessary: the biden administration will not send any diplomatic or official representation to the beijing 2022 winter olympics and paralympic games given the prc�*s ongoing genic genocide and crimes against humanity. and for team usa, the athletes of her full support and will be behind the miniature percentage of each of them on from home and will not be contributing to the fanfare of the games. our north america correspondent peter bowesjoins me now from los angeles, peter, always get debbie on the programme. we talked a while ago about the fact that this diplomatic boycott was com

for the prosecution — u.s. attorney alison moe said ghislaine maxwell's presence made epstein's approaches to the girls "seem legitimate" — into a trap." this is ghislaine maxwell's defence attorney laura menninger arriving at court earlier. four women made allegations against her client during the trial. she said their "memories have been manipulated in aid of the money" — and that ghislaine maxwell was innocent. he barbara plett usher is in new york on what else happened in court. this was the last time that both sides had a chance to try to convince the jurors of their cases before the jury retires to decide on a verdict. the prosecution emphasised that ghislaine maxwell was a person of power injeffrey epstein's house. they said she was the master of the house, she ran his properties, she was intimately aware of what went on in them and she was involved in this aspect of them. they said she was crucial for the operation, actually, because she provided the sort of smiling, posh, age—appropriate cover fo

it shows u.s. spending went up 9%, which shows this is holiday spending, people just pulled some of their spending forward. if you look at some of the big winners of the holiday season, a big box store like target, their foot traffic was up during that same period. it looks like it is a volume story more so than just inflation and people paying higher prices for their gifts. kailey: i certainly do not think i bought any gifts this year on a discount for their were not that many sales out there. but obviously retailers had to manage their inventory for the holiday season carefully. a lot of them may be did not get what they wanted to get in time. does that now need to be marked down? jordyn: it depends what the items are. if it is going to be a shelf you will put outside, you will see that discount, but if it is a winter sweater, retailers will be smart about how much discount they can give. retailers are also smart on which days they gave discounts. super saturday, the saturday right before christm

juliette: the u.s. senate has averted a government shutdown from a passing a stopgap spending measure which now goes to president biden for his signature. the vote followed a day of negotiations between senate leaders and conservative republicans. democrats agreed to vote on an amendment to block the biden administration's covid testing and vaccination mandate for large employers, an amendment that ultimately failed. new york state has reported 11,300 new covid-19 cases, the most since january, with dozens of hospitals nearing capacity. mayor bill de blasio says new yorkers should assume the omicron variant is spreading in the city. a visitor from minnesota who attended a credit convention last month has now tested positive for the variant. u.s. antitrust officials have sued to block nvidia's proposed takeover of u.k. based arm, saying the deal would harm competition in the semi conductor market. the ftc says it is acting to prevent a chip conglomerate from stifling the innovation pipeline from next gen

u.s. futures .1%, -- up .1%. we have the 10 year yield also advancing to the 143 level right now. trading at this level in the futures market. when we are looking at the japanese yen, falling against the u.s. dollar. there are some safe havens, moving ground. at the moment, continuing to rise above $59 a barrel, this is as we had realized the gains in the new york sessions after saudi arabia boosted the price of their crude. signaling optimism about the demand outlook. it has been about china giving the economy a double dose of growth, boosting policies. that will be felt across all markets. the bank required ratio, also it has seen that property curve being east a little bit. that is i we saw the deepening of the slowdown in the housing market. let us discuss with kathleen hays. we have the pboc, the meeting, moving in the same direction. >> there is no doubt that this looks like a powerful orchestrated move. the chinese government officials involved in this got together and decided this

the u.s. senate clears the last major hurdle to raise the debt ceiling, the legislation could pass as soon as this hour. haidi: let's get you straight to the start of trading. we are seeing weakness across asian stocks, just following that weakness we saw overnight in the u.s. traders are halting a little bit, given we do still have all of this uncertainty over the new virus variant. also getting key u.s. data inflation numbers. we are seeing traders staying on the sidelines ahead of that. we are looking at weakness as we get that trading here in sydney. new zealand, up .5%. also seeing pretty flat trading at this point when it comes to the start of the day in japan and korea. shery: take a look right now at what is happening with u.s. futures. pretty much flat as you said. really not much movement. this after stocks fell, bonds rallied in the new york session, we have seen consumer leading the declines as concerns of the omicron variant and their economic cost. that for -- that selloff in ris

the u.s. here's abigail doolittle. abigail: we do have the s&p 500 higher for a third day in a row, up 0.7% now, near session highs. more than 3% over the last three days, and the s&p 500 on pace for yet another closing hi. this after the sky was falling feeling earlier this week and last week on omicron, but some hope around some treatments. the nested 100 also higher. bonds down, supporting the idea that there's a risk on theme. you have the 10 year yield in that sweet spot of not too high, not too low, right around 1.5%, in contrast to natural gas futures plunging. take a look at gasoline futures, up more than 1%. this has to do with a refinery fire at annex on mobile worth finery in texas, right in time for the holiday. not sure that is good news, but stocks at record highs, that certainly is. guy: we did see a fairly big drop in gas prices, natural gas prices come on both sides of the atlantic, so multiple drops on the gas front. let's turn to our question of the day, which was slightly i

the u.s., and china but a complex adjustable rollout that included ultracold storage requirements coupled with the uncertainty over the supply of doses and a patchwork of state-by-state strategies has complicated the vaccine rollout all before it could be implemented. more broadly, we are starting off in 2021 delay. ariel berger reports. arial: roughly 3.2 million doses of the covid vaccine have been administered by the u.s. by january 1, 2020 one, far short of the trump administration goal of 20 million starts before new year's. the global vaccine effort hit a snag with vaccines developed by both astrazeneca and johnson & johnson suspended over blood clot concerns. in a few weeks both shots were declared safe following reviews by regulators in the eu and u.s.. biden hit his goal of administrating 200 million shots on his first 100 days -- in his first 100 days and vaccines were available to all adults. in the summer vaccines rode out globally. the altar contagious delta variant surged around

. >> the u.s. economy could withstand north of 2% interest rates just fine. >> you might well lift off, even though you don't think you are at maximum employment. >> this is "bloomberg surveillance." tom: good morning, everyone. another central bank a day is what we have for you. caroline hyde in for jonathan ferro. lisa abramowicz, it's a historic day. we start with bruce kasman of jp morgan, which will be profound. it's a moment where three central banks matter. >> they highlight the difficulty of this moment. are central banks going to be hiking rates, tightening policy into a weakening economy? are we going to see a deceleration at the same time that central banks are forced to get hawkish in the face of inflation? tom: out moments ago, let's go to this breaking news on em reaction. the turkish central bank cutting the repo rate, going the other way. turkish lira out to 15.44. the gentleman we heard yesterday is central banker to the world. lisa: partly this is an idiosyncratic story. erdogan h

the u.s. has already purchased 10 million portions of the pfizer pillow and 3 million of merck's. pfizer's pill led to an 80 9% reduction in hospitalization while merck's as effective. elon musk spacex lunch supplies to the iss today. among the items on board christmas presents and food for a holiday feast. along the way, the company hit a milestone. the falcon rocket completed the 100 successful landing. it was six years to the day that spacex celebrated its first booster touchdown. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton, this is bloomberg. >> it is 1:00 and new york. welcome to bloomberg markets. here are the top stories we are following for you -- from around the world. the biggest three-day drops in september, we break down and outlook for the year ahead with david lebovitz. plus, coronavirus jump into the highest level since september. this as novavax expects a report on e

the u.s. says moscow needs to de-escalate tension on the ukraine bored. russian troops continue to build ahead of a potential attack. it follows vladimir putin's comments he warned about the neighbors in eastern europe. getting home for christmas just got a little bit harder. united and delta have cancelled around 200 christmas eve flights. united said in a jump in omicron cases is affecting the availability of the crew. delta blames that and the potential for bad water. bit coin has jumped to around 51,000 dollars touching the highest level in more than two weeks the largest crypto currency is benefiting from a risk appetite. the digital coin is up to 76% this year. it's on course for its third year of gains. and that's your bloomberg first news. we speak to sayad abikash and why his strategy is to stay short treasure risk that and long dollar. steady today after and all-time high in the u.s. market. this is bloomberg. ♪ >> we certainly favor value into 2022 over growth and are much more on

damian: u.s. treasuries, we have not seen two consecutive years of negative total returns and i think that is what is coming in 2022. we are having a negative year here and i think we will see the same in 2022 considering the path of rate hikes. kailey: the question is when that shows up. i am looking at a 10-year treasury yield south of 150. i do not think coming into this year anyone thought we would be that low aside from steve major. anna: absolutely. maybe we will get steve back on to talk about one week -- where we go in 2022. we got up to 1.7 and that time we were all thinking it was playing save, and it did not turn out that way. kailey: tech is doing very well this morning. nasdaq futures are up .2%. just shy of the 4700 level. the 10 year yield sitting at 147. this is bloomberg. ♪ ritika: with the first word news. the supreme court will hold a session to weigh challenges to two biden administration policies covering vaccine requirements. the announcement that it will hear arguments in

for 20 years, u.s. regulators, u.s. lawmakers, it is not just the united states, allowed the chinese communist party to play by different rules believing that ultimately they would adapt in the future. that has not happened. what has now happened after debating this, it is not just a u.s. pushing and china actively put it -- pulling. they are pulling them home, so they have had 20 years of u.s. capital markets and they have their own and they are bringing it home. i find the whole story remarkable. tom: 2022 will start with an important conversation about that and it is in discussion with great experts on china. i can tell you that it is a movable thesis and will not end with 2021. emily wilkins knows that washington will not end with 2021. i guess there is no shutdown, but what i really saw was a reaffirmation of the republican party in the singular aloneness of democrats and the president of the united states. this morning, how alone do democrats feel? emily: this morning democrats are breathing a sigh of relief. they

it's the reason why the u.s. and russia our meeting today. if the u.s. has sent a message, they could actually restrict the supply of energy coming in from russia. that will lead to a lot of pressure on energy prices. energy accounts for 46% of the market. one of the decisions the ecb has made, it could change dramatically. we are already waiting for german regulators to give approval. the only thing holding it back is the company which is nord stream 2. it should be registered in the eu. we are waiting for that decision to be made. that is only going to impact europe in the biggest way. and very negatively. that is a big risk. christine lagarde held on so firmly. guy: political interference in the financial markets and the inflation narrative, we will watch the results of this conversation between president biden and prudent very carefully. thank you very much. we gray shall he -- greatly appreciate. coming up, the german government comes in. it is starting to line those up. how is it going to factor in the eurozone debt burden. the next chance that wil

u.s. futures. nasdaq was the biggest loser on friday, losing more than 2%. today, we see the s&p futures up pretty steady, but definitely suggesting that people have had enough of a meltdown and they are ready to put their toes back in the water. the u.s. 10 year bond futures are looking a little bit to the downside. so the price following signals a higher yield. but with the 10-year haven't gotten down to 1.33%, that is still a very low yield. brent crude, after falling on friday, posting its weekly loss, worst record since 2018, now showing a bit of a rebound. brent is up more than 1.5 percent. new york crude, west texas intermediate up one and three quarters. saudi is raising their oil prices for asia. perhaps has something to do with the fact that this will be more profitable, despite the fact that protection has been raised in omicron is a threat to demand. market watchers are saying the weekend plunge and cryptocurrencies could be a battle ahead of the monday market open. su keenan j

then we have u.s. treasuries, perhaps trying to make sense of this as well. 30 year yields falling back, recovering somewhat to levels we haven't seen since january. overall markets, let's look at those, the nikkei down about one third of 1%. the hang seng off lows, 1.2% to the downside. the kospi with a gain of about one third of 1%. the australian market pretty much unchanged. investors with all of these moving parts. it is steady essentially if you don't have a tech component. alibaba, 4.8% down. tencent, all because of fears sparked by didi, they are moving their listing from new york to hong kong. the regulator making some seemingly futile attempts to get people not so excited about all of this and calm things down. then we have property on top of this, and the property market here being developed. evergrande, supposedly we were going to get a restructuring plan on the offshore debt, we have not had that yet. we were supposed to get that on friday. evergrande down 12.4%. a default on sunshine 100.

the u.s. data seems to be overshadowing omicron fears. the risk of hospitalizations is lower than with delta. market sentiment the day before christmas is still cheery at the moment. you are seeing most markets slightly higher. we are dealing with than trading for the holidays. treasury markets are shut. we are following yields, higher overnight. you are seeing this move, given the record in the u.s., as omicron fears subside. taiwan boys for record close. we are hovering around 18,000 for the taiex. we are focusing on hong kong. tech is having a rally. we are watching some fx moves, sterling, renminbi. it was an interesting fix, 15 straight days weaker than expected. this goes to show that the efforts policymakers are doing to slow down the rally which continues, by the way, so is it enough with this policy diversions to weaken the renminbi? that is the key question. rishaad: yes. let's look at the u.s. the data did paint a pretty positive image landscape for the economy. consumer sentiment i

u.s. cpi. omicron concerns radel stoxx but treasuries hold steady. the pboc surprises markets with its most substantial move yet. delivering for christmas. we are live from the uk's largest automated warehouse for the latest on the supply crunch. good morning to you. happy friday. we start the morning with breaking news volvo cars. it's all about a new plant and a battery partnership they are forming with north voltage, $3.3 billion. it's a battery partnership specifically. they will confirm the location in early 2022. again, this is a large-scale battery plant in europe. really ramping up the ev battery making in europe. elsewhere, it is friday. congratulations. you've made it to the end of the week. it ends in a bit of confusion. soul-searching is the word used by cathie wood to describe what has happened recently. small caps selling off yesterday. what do you do if you have a portfolio strategy that relies on the success of highflying tech cap names? here's what cathie wood's had to say

at least 10 u.s. vessels heading to europe and another 20 that appeared to be crossing the atlantic. we cover our and renewables. how should we be interpreting this third day of plunging natural gas prices? >> we are seeing an increased number of tankers heading to europe. we have also seen your virgins from asia. ships making u-turns mid ocean. coupled with that, we have seen an increase of cargoes heading from russia and africa. europe is the most attractive model now for lng. dani: what did we make of president putin yesterday saying this is the fault of europe, clients not asking for contracts? not russia not wanting to give the supply. what do we hear about what accounts for the lack of supply for russia? is it just that the clients have not been asking for it and did not have contracts in place? >> european clients do have contracts in place. they are long-term. they set an amount of gas that has to be taken. there is a preagreed price that would make the price cheaper. a lot of europeans would

the possibility of u.s. growth heading into 2022, a year that was supposed to be the year of a sea change in monetary policy tightening. but if we have this curveball getting thrown into markets at this juncture just as the omicron situation is really starting to look negative, that is not going to be great for risk assets heading into the new year, for sure. tom: and the pressure on oil seems to justify the decision not to increase output despite pressure from the biden administration. oil burns down more than 3% at this point. this is significant for the oil space as we look into 2022 and implications of further restrictions. kristine: absolutely, tom. the picture for oil really was driven during the height of the pandemic, was driven by the deterioration in demand and the side of things, implications of potential restrictions and lockdowns, people not leaving their homes and not losing -- using their cars and not contributing to that demand side of the equation. so heading into that border situation once

the u.s. and other places. but that is their narrative. remember, this is a central bank that has shortened to inflation target for long period of time. i think for the reserve bank of australia, there are risks they don't want to take, because you don't want to have the risk of overshooting. haidi: is there a credibility gap, when you look at market expectations on when the tightening cycle will be? richard: credibility has probably quite a strong way of saying it. i think for the reserve bank, particularly the way that -- has caused consternation among market participants, they were supporting the official three year bond target and it ended prematurely and in a very disruptive way. so there's is always some skeptical questioning of central-bank forecasts and expectations. i think there is probably more questioning and expert missions, given the way the three year yield target ended. haidi: i wanted to get your views on china. this is a big week. we have inflation data as well as trade expec

and u.s. secretary of state antony blinken has cut short a three day trip to southeast asia after a journalist trapping with him tested positive for covid-19. blinken is returning to washington earlier than scheduled and canceling meetings in thailand and hawaii. blinken and other senior staffers have tested negative. enter the u.k. where we are warning about the spread of omicron and a record 78,000 covid cases on wednesday. substantial numbers of people will be hospitalized for the holiday period. canada is asking citizens to avoid nonessential trips to other countries over the next month. ontario announced new covid restrictions. powered by more than 27 hundred journalists and analysts in more than 120 countries. >> coming up, we discussed rebalancing portfolios and finding long-term investment opportunities in the high-yield bond. this is bluebird. ♪ -- this is bloomberg. ♪ >> futures pointing to gains after stocks rallied, hastening the end of the asset buying program. our next guest

u.s. overnight and you are seeing their play out across the region. . india is still closed. we are going to see gains. rbis on deck today. following bonds -- foreign bonds were flat. we are stuck below the 1.8% on the u.s. ten-year, one level we are tracking. i will go back to conversations around the feds. yvonne: the risk assets trade roaring back. you wonder what was behind this, right? yes, there are mechanical forces at play, but some fundamental reasons, given what we heard from china at least, the second largest economy shifting toward using stance. that s&p was basically like we forgot that jay powell retired the word "transitory" and we are back to the levels we thought of -- saw before. we are focused on the evergrande story. maybe default or closer to it according to credit agencies. stock is down 3%. evergrande, we are lower. the index is not doing too much right now. we talked about that not stellar debut. not a good test -- sign with planning for a tech company out of china

the u.s. 10-year yield, gains, 1.43 on the u.s. 10 year. francine: let's dig deeper into things that are moving, basic resources leading the gains. there is a story on iran, and european negotiators worried whatever they do, the old iranian agreement has failed. real estate and autos are the worst performers. it seems like we are seeing 0.5% higher and the focus is on the fed, then the boe. all of this could change in a couple hours. tom: we have stocks in focus. software rg invested by silverlake. we are watching that stock to see if the injection of capital will help them in terms of growth in north america. losses of more than 8% on the back of that investment. there is a deal for the australian drugmaker of astrazeneca. we will get that in a few seconds. the retail story on the back of the pandemic, the fourth quarter came in disappointing but demand is there. the company is still holding their guidance for the full year. let's get the bloomberg business flash. angel: ubs and former bankers have had punishments cut by an appeals court i

this is bloomberg. ♪ >> the u.s. needs to get back on a sustainable fiscal path. >> purchases in the first quarter or early in the second, right now i would support that. >> we know vaccines are likely to have some protection. announcer: this is "bloomberg surveillance: early edition." dani: good morning and welcome to "bloomberg surveillance: early edition." i'm dani burger in london. the omicron variant spreads. the u.s. has its first case, and anth

u.s. and its allies will take strong economic measures to respond to any attack on ukraine. bruce, develop your thoughts for me in terms of how the two sides are describing what happened. are we aligned? bruce: the u.s. is saying that president biden warned president putin that there would be a harsh response to any russian military invasion of ukraine that would include crippling sanctions, that would, for instance, make it impossible for russian banks to convert rubles into dollars and other foreign exchange. it would also potentially involve germany cutting off the nord stream 2 gas pipeline which is not yet operational between russia and germany, and that would be a major blow to russia and potentially could be a major blow to germany too. so that would be something that maybe president putin would perhaps not be as concerned about. for his part, putin talked with biden about his concerns about nato expansion, warning that nato should not continue expanding eastward toward russia. he a

in the u.s. president biden says the white house is trying to ramp up covid testing capacity, saying it has not kept up with heavy demand. the cdc changed the recommended period of isolation from 10 days to five. the jobless number is up 2.8%. the estimate was 2.7%. that is 2.8%, up from 2.7%. u.s. futures the slightly lower open. japan futures pointing to a higher open after a record close in the u.s. we are also awaiting australia and new zealand. hong kong is also reopening today. this is bloomberg. ♪ david: this is my kitchen table, and also my filing system. over much of the past three decades, i have been an investor. the highest calling of mankind, i have often thought, is private equity. [laughter] and then, i started interviewing. i watched your interviews so i know how to do some interviews. [laughter] i learned from doing my interviews how leaders make it to the top. >> i asked him how much he wanted. he said, 250. i said, fine. i didn't negotiate with him and did no due diligence. d

the u.s.? rachel: yeah, we're definitely seeing the number of covid infections surge up, day after day of record cases. but at the same time, the situation hasn't necessarily changed that much. the vaccinated need to get that first shot. the booster shot will bring the protection against omicron. at the same time, what we're seeing is people are not willing to go back to that situation a year ago. at that time, we didn't have the vaccination so it was really a lockdown situation to keep people's -- people say. right now it's about holding the line and trying to allow people to have their holiday, their family gatherings over the holiday period while maintaining that adequate care. so what we're hopeful to see is that deaths will not follow. anna: absolutely. for that reason, we keep an eye on south africa because they are ahead on this particular curve. friday morning, i feel like we have to ask a big picture question if i can. where does this all end? where do you see this ending? we can get

u.s. stocks hit an all-time high on optimism omicron will not hamper the recovery. market study amid fears of trading. united and delta airlines cancel around 200 christmas eve flights due to personnel shortages. gas prices plunged as more ships carrying u.s. lng race to the continent to offset russian supplies. good morning on this december 24, 2021. let's check in on the markets after another record stateside on the back of easing concerns about omicron and the severity of that variant and also more solid data coming through from the u.s. in terms of jobs numbers, durable goods, even though there is caution about consumer spending and how inflation continues to eat away at households drive power -- dry powder. europe is moving with the caveat volumes and liquidity's are thin. markets like germany, italy and spain closed. gains are range bound across the stoxx 600. euro-dollar at 1.13. sterling is at 1.34 and brent crude is lower by a little over 1%. wti not trading in the session. we can

the u.s. senate passed a bill that would ban goods from china's she john region unless companies could prove they weren't made with forced labor. haidi: let's get you straight to the start of trading, this friday's session, ozzie is looking to reverse three days of losses this week, off to a pretty good start, a mildly positive start to this open in sydney. in the meantime, we are seeing a flat session over in new zealand. we spoke with the finance minister earlier about the impacts of omicron and potentially how that affects the reopening and the economic recovery. he was fairly optimistic. futures looking unchanged at this point. we are watching for that final session going into the start of u.s. trading, a very eventful week for not just a fed chair, but global and central bank. shery: so many to discuss, but u.s. futures slightly higher after stocks fell. the most expensive parts of the market sounding off because of rate hike concerns. wti at the moment heading towards $17 a barrel, boost

nio as a u.s. listed company, do you have any plan to shift your listing to hong kong following in the footsteps of others? william: we hope political issues won't affect much of our company's growth, and we will abide by the local laws and regulations. charlie: are you considering to list yourself in hong kong one day? william: anything is possible. charlie: you mentioned nio will enter 25 countries by 2025. can you give more details? when you plan to sell cars to the u.s. market? william: we have set up a research department in san jose in 2015 with hundreds of staff to develop our global product. we started fiercely considering the north american market since 2017 by making our products more competitive. of course, we are still working on the plan. we will enter germany, sweden, denmark, and the netherlands next year. and more european countries the following year. our international strategy has always been making long-term plans and staying patient. dani: the nio ceo and cal -- co-founder sayin

the u.s., in line with what was forecast. a couple of broadsides against the fed's policy. china region king what it is doing in terms of going away from regulation and trying to stabilize growth in the country. we have the yuan in focus. see how this is falling into place in the markets. david: when you look at equity markets, off to a very good start to the week. we are already -- we already saw a lot of northbound flows last week. csi 300 and hong kong leading your gains. we will look under the hood in a minute. the currency is continuing to see some strength. you're looking at the currency at 636. also, broad dollar weakness. you're looking at yields picking up a little bit. shanghai comp, very close if i not mistaken. 37 15 roughly speaking is year year to date high. roughly about nine points short of the level. rishaad: everybody looking at what the fed does this week. looking also in u.s. inflation read should paying in line with what we have. inflation it near four decade highs. the la

in other news, u.s. antitrust officials are suing to block nvidia's proposed takeover of chip designer arm. the ftc says this would harm competition in the semiconductor market and would give nvidia control over computer technology and designs rival companies rely on to develop competing chips. arm is owned by softbank group and licenses technology to all the major chipmakers, including nvidia's competitors. coming up, we are joined by josh silverman, ceo of etsy. he will talk about the meeting with president biden to discuss supply chain issues, and the hottest items selling on the online marketplace. ♪ emily: etsy, the global online marketplace, is hot off the heels of the week's busiest shopping week. shares rose leading up to black friday, but have since retreated, down over 50% after the last seven days. josh silverman shared his take on why traditional retailers are struggling to navigate supply chains, and why he things etsy is thriving despite it. i will bring in etsy ceo josh silverman himself

the u.s. supreme court to allow a federal shot mandate for health workers to take effect. pfizer has asked u.s. regulators to grant full approval for their jab in children between the ages of 12 and 15. british airways has put its flights to hong kong on hold until march. the move comes after hong kong imposed strict quarantine rules that forced air lined workers -- airline workers to stay in a makeshift camp. lawyers for guillain mask well today -- just lay maxwell called a witness, a woman who said she was epstein's sex slave and claimed she was forced into an encounter with them. germany's christian democratic union has picked a new chairman. they hope he will lead the revival following a bitter september defeat. it signals a significant shift to the right. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. >> i am greg pennell in for amanda lang. >> i am romaine bostic

u.s. futures to see where the momentum that was started in europe but continues in the s&p 500 futures, getting a touch, and, a couple of other things remember the -- written in the -- remim bi. let's get straight to the bloomberg business flash. here's angel feliciano. angel: elon musk continued selling tesla shares for a fifth straight week, coming closer to his pledge to offload 10% of his holdings. the billionaire founder sold 934,000 shares to close to $1 billion to pay for taxes of more than 2 million options, this according to regulatory filings submitted on thursday. they're crunchy, nutritious, and set to hit dinner plates and supermarket aisles. it hits -- grasshoppers have been certified as food for the european union. the bugs may not be the last to gain approval. they are weighing applications for nine other types of insects. and starbucks employees have one of two new york restaurants voted 9-8 in favor of unionization, the first union foothold on thousands of corporate run s

the u.s. or mean the marginal producer at a time when opec-plus has shown they are going to increase production? tom: the oil gained that we have cover here with all the different opinions, deutsche bank with a low price view and others well over $100, the research piece, whether you agree or disagree is jp morgan and they are saying simply shale won't come on this time. lisa: because frankly, investment and some of these facilities and inflation and some of the supplies are cost prohibitive to bring things on super quickly. at 1:00, we will hear from a number of fed speakers. how much do they reiterate what we heard from jay powell the it is distorted by overseas investors if you look at the long end of the curve and it is not something tom: -- an important voice today. right now, we begin our discussion on this friday as you get ready for the weekend and jump into next year. head of global fixed income at morgan stanley, brian joins us. folding and fixed income to the rest of the market, you

the u.s. did with vaccines at the beginning of the pandemic, and germany was frustratingly lagging behind. you have a reverse situation going on in terms of testing right now. but kailey mentioned the biden administration is hoping to put 500,000? kailey: 500 million. but is that too little, too late? matt: next month is not that far away, so unless you mean in 30 days, if you mean in january, that is only the end of this week. i think the u.s. can catch up. the question is how much is the economy going to take a hit from people who do not get to come to work for 10 days? none of this stuff, a decision on how long you have to stay out or getting testing to your door, is going to happen immediately. for now, you will have to situations, like we see rep -- like we see representative in airlines today, ripple across. jonathan: it has been surprising to see this administration lag so bad unequivocal issue. i remember a press conference where the press secretary was asked about the visibility of te

u.s. flattening further. what is it telling us? some would argue on the near end, looking at digesting monetary policy, perhaps some stimulus being removed. looking at a recession, or even to some, stagnation. a quick word as to what happened earlier on. the loan prime rate lowered by about five basis points. what kind of difference is that going to make? it is a perhaps a signal it is sending borrowing costs release for the first time in 20 months. signs of fatigue. and of course sporadic virus outbreaks as well. let's get to andrea path legend joining us now with more. it is about the signal it sends ultimately because five basis points does not send a lot. but the question is, it's the messaging. >> yeah. it's the messaging. you have to keep in mind it was really not that much of a surprise. the markets had been expecting some sort of an easing after that rrr cut earlier this month. we know the chinese government is committed to this stability. so to some extent it was small. it was not

u.s. futures. we are set up for a positive day tomorrow. today was in the green despite low-volume. as you said, it's counting down to the holidays and vacation. we are seeing s&p futures up a few points. the euro stocks 50 pointing to a higher open. christine lagarde speaking looking like debbie harry saying the ecb is ready to react one way or the other. the market trying to digest the difference between inflation becoming problematic and growth coming problematic in 2022 here and in europe. we get u.s. data -- economic data in the u.s. and a few hours. futures for crude rising above $73 per barrel. new studies show omicron may be less likely to send patients to hospital than delta. let's bring in jeannie bauman. >> there are two studies. one that came from scotland and one from south africa. one in scotland suggested that the omicron variant lead to a two thirds reduction in hospitalization and earlier findings from south africa found that people there who contracted the omicron variant

march now, u.s. antitrust officials have sued for blocking videos of a $44 -- $44 billion takeover in the semiconductor market. the ftc says it is acting to prevent a chip company from siphoning the innovation's finesse generation technology. the u.k. based arm is owned by softbank and licenses its technology to hundreds of companies, none of which it competes with. shell has pulled out of a controversial oil project in the north sea. the company says economic taper investments in the u.k. oilfield is not strong enough. environmental groups have criticized the plan, saying they are at odds with u.k. solar reaching carbon neutrality by 2050. and that your bloomberg business flash. dani? dani: to markets, where european equities are opening higher following gains in the asia stock market as traders await a key job market that could catalyze a hawkish move from the fed. we saw crude advance after opec-plus were preceded with an output height, but left rooms for adjustments. we have tech in focus after d

perhaps even more outside the u.s. than inside the u.s. our view is if central banks can thread the needle and bring down inflation by raising rates, but not scourge growth substantially, perhaps in that scenario, the optimal allocation would be some sort of barbell where you have equities that do well and inflation such as energy, such as materials, and then barbell that with staples and utilities. or if you get something we think may occur or has a higher likelihood of occurring than the market has priced, that is a slowdown our a recession scare in the second half, you're still going to want to have quality defensive's. so either way, quality defensive's are a good bet as a hedge. matt: but not bonds, right? if you expect 3, 4, five rate rises in 2022, you don't want to hold treasuries. david: certainly not at the short end. but if you start to see an inversion of the curve, and that scenario you want to belong dollar, and perhaps even longer bonds, but that is not our consensus benchmark view. matt: i'm searching for a bear case for th

there will be bigger ramifications in the u.s. markets for all of these chinese technology companies that listed in the u.s. since 2014. emily: what are the bigger ramifications you see coming? crystal: a lot of adrs are down today. there should be more pressure from chinese regulators on other stocks. we have already seen a little bit of homecoming. alibaba listed in hong kong as well. you can probably see that as a policy where if anything happens to your listing in the u.s., you already have hong kong. one that is interesting is what hurdles dd may say is listing in hong kong. hong kong's regulators operates differently as the u.s. regulator. you have to be fit to list in hong kong, not just take the boxes to be considered fit as a public company. even though they passed the political checkmarks, having to pass the hong kong exchange laws, having to convince investors the second time within a short period that they should invest again, that would be a big time. emily: thank you much. we will continue to follow and watch that de

u.s. when they meet on december 27 for the next round of talks aimed at reviving the nuclear deal. the chief negotiator tweeted today that it is important to pick up the pace on outstanding issues. the u.s. exited in 2018 and reimposed sanctions on iran. new york state will start compiling data on both perpetrators and victims of hate crimes under a measure signed into law today. the court system and local law enforcement will collect information and make it public. it will be used to help people studying hate crimes i looking and basic demographics of those arrested and those assaulted. those in london looking to catch the train at home at night. the underground tree network is the oldest in the world, has long been heavily unionized. strikes are commonplace. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ >> it is 1:00 in new york, 6:00 in london, 2:00 in hong kong. welcome to

the key is u.s. firms, for instance, need to become australian companies. >> with regards to the focus on clean energy or cleaner energy, i should say, if you look at the legacy industry of mining and materials in australia, how do you reconcile those to an industry that has not necessarily made the shift to the clean energy future? peter: the transition is happening faster than anybody expected. what is interesting is the traditional industry entrepreneurs are leading the charge into hydrogen, for instance. we are talking green hydrogen. hydrogen which is powered by renewable energy. if we take the solar industry, a company is a great example, being put together at the moment and will be exporting electrons, exporting sunshine. haidi: the australian prime minister's special envoy for lobo business and talent attractions begin with bloomberg. another year a strong earnings growth from cyclicals according to our next guest. great to have you with us. we have to start with the virus, with omicron. what

the u.s., although omicron now makes up the vast majority of cases. we have to talk about the policy response when we talk about the virus, and the u.s. not heading towards lockdowns or really any kind of restrictions. damian: i wonder if this has anything to do with is in joe biden's weak ratings. what comes next for the democrats? what comes next for congress? we have to start looking ahead to the november midterms. it basically looks like it is going to be a republican house. kailey: we started this week was a pretty ugly session. part of the question was what was going to happen with fiscal policy in the u.s. we still don't really have those answers, and yet it seems people have decided to look through that, at least for now. guy: next year looks really difficult, doesn't it? you are going to have a fed tightening. you still got high energy prices. you look back at history, certainly back to the 1970's, and history tells us recessions are caused by the fed tightening and/or high energy pri

the u.s. having a horrible session on the back of the u.s. confirming the omicron variant had arrived there as well. let's take a look at what we are expecting and what is the latest news when it comes to talking about the variant, right? more countries reporting their first cases. south africa in the meantime seeing its daily number of cases almost double. the u.s. national economic council director says it is still hard to assess how the new variant will change things. take a listen. >> it is too early to know precisely the impact economically. we need to learn more about the transmissibility and severity of this variant. haidi: let's get more from our san francisco bureau chief. we're hearing messed mandates in the u.s. could extended until march and also the restrictions and measures coming through. there really is difficulty in making these measures when there is so much we don't know still. >> exactly. policymakers are trying the best they can to not spread panic and remind everybody it

u.s. futures pretty mute as well. travel stocks topping the s&p 500 in the new york session given a little more optimism over the pfizer booster. futures muted. treasury futures muted after we saw three sessions of gains for 10 year yields. crude continuing to gain ground. three sessions of gains as we have broader risk rally. also rebounding after falling into bear market territory. when it comes to the offshore yuan, not doing much. this of course after hitting the three year high against the u.s. dollar. we heard from the securities journal saying analysts are expecting further yuan strength. haidi: as you touched on, early studies from pfizer and biontech showing the third dose of their vaccine could be needed to neutralize omicron. let's bring up emma o'brien who is looking at this. the implications of this study suggests we are going to see a premium when it comes to rolling up booster shots. >> this is going to accelerate booster campaigns that have been getting underway in develope

u.s.. yields are lower, stocks are lower. here, stocks are higher and yields are higher as well. i've been talking about it all day. the s&p is up by 0.8 percent. most of the sectors in the green. apple down almost 3%, but the s&p kind of just shrugs that off. the nasdaq is rolling over, so that is having an impact on the overall tech space. but within the broader market, everything seems ok. selling all across the curve, and particularly the fives-30's. we have not seen this level of flattening since march 2020, and a huge portion of that is a selloff at the front end of the belly of the curve. i wonder how long the to can diverge, european equities and u.s. equities, the ecb on the fed. that is really a question for me. guy: let's talk about the valuations story and figure out exact a what is happening. european stocks are down today. we are dealing with obviously a lot of volatility around omicron, trying to figure out what is happening with the oil narrative as well. but in some ways,

the u.s. put dji on a blacklist. this is related to what the u.s. said is dgi -- dji's role in surveillance engine junk. haidi: we are talking about an ipo in hong kong. this is all part of this much bigger debate about data security. guest: the bigger debate is there are so many devices collecting data of all sorts. governments around the world are concerned with happening with that data. in china, the government has taken various steps to protect data to prevent data from going outside of china. the united states is taking some moves as well. we see increasingly that governments are thinking of ways to put up walls to protect data from adversaries. potential adversaries. haidi: cruise on her and what the story. let's get a check of the business of bonds. alibaba will target abroad in rural china. alibaba says it sees overseas business, poorer cities and cloud technology as key drove -- growth drivers. they are trying to reassure investors nervous about growth after alibaba was one of the first targets of china's tech write-down. a china automaker