that's continental quite are tom york. i can have an incident one way. what i want for harlem. it gambling the thumb coloma. well, i got, you got to look at the number and it could be filed with the offer to let it go. if i did with in a teacher, ah, france had no choice but to let go of his once glorious empire in sub saharan africa. only a handful of territories remained and their 2 nationalist movements were increasingly gaining ground. in algeria, things were different. the french didn't even officially refer to the conflict as a war, but simply as events. however, this nameless war now entered is final and most of violence fees. the goal had already given way to the notable in sub saharan africa. and when he spoke on the 4th of november 1960, he knew that the days of french algeria were numbers. you would be elected to the whole j we'll is say d she d also know this reply from a new vote. yes remark, audrey, no, oh oh, well, no more do not really follow me properly. all day news. i really am here again the 132 year link between france and algeria was about to be broken. an

me, which with us or would you want to donna, god, tom to her it is i'm into she found one. it's on shell will utah. whom yeah. why don't you? you don't to go to watch it, but i wonder if what is oh me up, but a little did honda but our and on that do you need to the heart usa usa who wish and honestly saddam for the future room to do show you step on shall do not use it . i don't want it either. mamma. puzzle everywhere. dollar you. pollard g r o to gov im will i le ledger will know you will not use us or passes me. katrina put us in words. wish i would. it's our job. little poor you said the saw, told us and thought all of our la neuropathy way. i hope only, it's has to use a dagger citizen, kadusus, or yosh. i didn't want any salons. i went and i would of jim which in yes, a game with i, rental astorga, schanzer, art. your city are most and watch other woollen bottom where use youtube will dislike the abuse. go away and his wife remained together and had a son lawyer must i? none says is huge, cris sharon, chinese women to stay in relationships with what i shut the label.

tom: you are poetic. with that, we migrate to david wilson with some really good observations on the equity market. let a set of differing opinions. >> absolutely, but not all that different. tom: this is a story about narrowness. >> you avoid the worst performing group and you tend to do better. it will have a list among energy sectors, but what happened in the third quarter is that there was so little distinction between the best and the worst performers that they did not really matter. the gap of less than seven percentage points, the best performer out of the 11 -- that was the smallest differential. tom: you stagger back and say, what has happened here before? >> we have not really been here before. the smallest was back in 1889. it is a matter of, do we get more overtime? this is how many managers justify their existence, avoiding or if you do not have that much of a gap in performance, not a lot of opportunity to do better than the index. lisa: this flies in the face of discretion. can you talk abo

tom did his table in the tumor. she the a boy sim, watching them the la la miss of israel, the diana, and the claim. but oh dodge said pin him. oh, shorter than it is room. climate houses are in all secreted. ours will go by a pon pon is omitted our ear de mando them on. i'm going percy, bells halsey, him comparing a notorious jones. this is eva mir becker drew. good remiss visits to ali immediately. i think i'm see company, but he's on them on the are are not this one. he knows your hip and you just don't, can papa e bally buffers him? he pavilion leaves at all. he don't pre, you know, doctrinal trip was over facia, dr. miserable deanna, daughter of bill nato. luke or latasha from gemalto. luke, on your leave, she built all lucre a shorter, more coverage of a volvo, vol. gosh cooper, keshawn audrey a regular vancouver. it wishes fit dog celebrities have ada. to see, she sung in, erica, she daveille fletcher brought on genevieve, priscilla don't yell the french army knew it could behave however it light because it w

tom keene,. this is bloomberg. >> with first word news, the federal reserve says it will ban officials at the organization from buying stocks with trading. it is an embarrassing scandal for the fed. it is a path renomination, and some fed washers say that the quick actions will deal with senior fed officials. european government will result in a steep to tech china. they will retain core digital platform such as amazon and facebook. the global tax deal will come into effect, and they will refund any levies in excess of the agreed rate. carbon reduction is lowered then anticipated, due to a mobile chip shortage. manufacturer says it will make 500 thousand fewer vehicles in 2021 due to lack of components. they previously predicted a shortfall of roughly 200,000. authorities are investing after confirming alec baldwin shot two people in an incident involving a prop gun on a set of a gun in new mexico. a cinematographer was killed and a director was wounded. the production has stopped. global news, 2

that's continental tom. yeah, i can if they didn't one way but i don't wanna gamble fully at the thumb. toma well i gotcha. you gelata thunder gripped could they fall, glittered over to let you fly to within the th. ah, france had no choice but to let go of his once glorious empire in sub saharan africa. only a handful of territories remained and there to nationalist movements were increasingly gaining ground. in algeria, things were different. the french didn't even officially refer to the conflict as a war, but simply as events. however, this nameless war now entered is final and most violent fees. the goal had already given way to the naval in sub saharan africa. and when he spoke on the 4th of november 1960, he knew that the days of french algeria were numbers e o 3 elected a whole j we'll is say dish. she de also know this relies from a new book. yes remark, audrey, no, oh, oh, well no more than a yearly valerie popo all said miss alice julie as yet again. the 132 year link between france and algeria wa

tom said the entrance to a mosque, no group has claimed responsibility and she is here, thousands of people are holding a rally in support of the presidents. on wednesday, k science named prime minister is now working to form a governments for the opposition. the key site of conducting an official results from georgia's election showed the governing party, georgia. dream well heads in the leads. the main opposition is alleging electoral force the vote took place. the day after former precedence mikhail successfully was arrested at least 3 people had been killed in a missile attack in yemen. witnesses say military areas were targeted in the city of murdered. the attack comes as who the fighters are pressing ahead with an offensive against the saudi led coalition. sit on as being warned that failure to progress towards civilian leadership could put us economic and political support at risk and attempted coup, 2 weeks ago has caused more mistrust. between the military and civilian groups that share power in a transitional government. the still no date for the military to hand control to

got cancer or juggle niger where he wouldn't talk to tom because now we're pushing the doctor, would you didn't you want to not she go with tuition on top of her power juices. i'm not talking about domestic violence is so deeply rooted in traditional values that even family members may not see the need to hope those effect to route go ways . marriage, his parents as well as his in laws, were aware that he was abusing his wife. but they didn't reprimand him, even when he started using potentially deadly force photoshopped where tom, which he had soccer as an as a whole. what you got ga, ga food into how, what channel. and you do that have been, some will, you can hardly, honestly, you go quieter daughter will just want to go to where to go from minta miserable would you, you'll, you'll, you'll, you'll do them soon. shoot this or talk to the dental title move which does or would you want to dive in regard to it as i'm it that she found was i'm attention will usual. hm. yeah. but aren't you? you want to go to watch it, but i wonder if what does pull me up, but a little you'd, honda, but

tom: that was very quick. [laughter] expand on that briefly. >> fast-growing and stable earnings sector. tom: hi yields don't worry you? >> they do, but they need to be a lot higher to be a lot more worried. francine: next time you come on, we will do a full 20 minutes on technology stocks. coming up, soaring energy prices take center stage as eu leaders gather in brussels for a two day summit. that story next. this is bloomberg. ♪ tom: welcome back to the open. 22 minutes into the european trading day. losses across the stoxx 600 of around 0.3%. reflected in the individual indexes from the ftse 100 down to the ibex. the questions concern inflation inputs, articulated by the likes of the unilever ceo, putting earnings front and center to that point. pulling to the upside to some extent. broadly, the earnings have come in relatively positively, francine. francine: there is quite a lot going on. it is not like you wake up on a thursday and you say, i really need to watch inflation expectations. there are these

sorry, tom. jonathan: kerry go. feeling good, tom? tom: she was at a pay phone i saw this weekend. $1232 for anne-marie to sit behind the yankees dugout. jonathan: that is how much it costs? >> are you paying for that? jonathan: let's catch up later. stay close. annmarie, down in d.c. the president tries to bridge the gap between moderates and progressives in his own party. tom: it is sort of chaos. i'm going to go back to focusing on the infrastructure bill. i don't have any great knowledge on that other than is it dead? jonathan: we have got a new deadline. month's end. it's got and maybe next to it. lisa: even janet yellen said maybe there are couple of days with wiggle room. maybe it is october 28. we did learn something. we learned the progressives have conceded. three point 5 trillion is not going to be 3.5 trillion. jonathan: something between 1.5 and 3.5. your equity market's down 16 on the s&p. tom: vix 23. jonathan: this is bloomberg. ♪ ♪ the comfortable way to work out. -that looks fun actually. -it looks fun? it looks

tom: good to hear. coming up, we will speak to catherine hunter ryan, the cfo of engineering construction group about how rising commodity prices and the supply chain tangle are affecting that business. stay tuned. this is bloomberg. ♪ tom: welcome back to the open. 26 minutes into the european trading day. a bit of a turnaround. the stoxx 600 is up .1%. the spanish ibex as well gaining . food and beverage, he saw the strong results. -- we just saw the strong results. that is the state of play as we head to the break. plenty more ahead. this is bloomberg. ♪ >> welcome back. here are your top stories. inflation rates ease as there is a drop in price, assets surge in transportation cost. etf's links to crypto. tom and i are on the watch. trying to restore order after losses. some are more down than up. tom: the treasury yields started to steepen again. 10 year is up. we are looking earnings as well. bitcoin, given the demand for the etf futures lost yesterday. 10 million in trading. more is expected i

tom: it is not about us. jonathan: you know it's not. [laughter] tom, clearly. the curve is flatter, let's get to the stock movement. let's say good morning. >> good morning. if you're looking to more evidence as to the potential for some of these inflationary pressures, alcoa is actually reinstating its dividend for the first time since 2016 after the spinoff. it is an interesting read. the commentary out of the company is that they see the pricing power sticking around for a little bit longer. the company is reporting great earnings. $3.1 billion in revenue. 201 and change on the etf. the ceo seems to think that this will stick around for a little longer. core shares not only up before the stocks, it has been on a phenomenal run. at least among some of the large-cap companies. keep an eye on the bitcoin crypto space. the folks at bloomberg intelligence have been saying for a while that bitcoin futures etf is going to happen in october. we have new reporting based on people familiar with the situation saying that the sec could sign off on this in a matter of da

tom, a choppy path ahead this morning for sure. tom: i don't get it. i have no idea how the liberals rationalize cutting and clipping whatever. jonathan: this is a little more efficient. tom: three of us in london, now that we can fly? we can go when you can go! jonathan: i can go and i can fly back direct. fly straight in, fly straight back. the only reason you want to go to london or is there another reason? tom: lisa can bring the kids. jonathan: i'm not sure lisa wants to bring the kids. tom: can i just say, it is the 40th anniversary of limburg and i need -- bloomberg, and i need to say good morning. [laughter] tom: that is how i learned about the bloomberg terminal. jonathan: congratulations to mike and everyone involved. from new york,, this is bloomberg. ♪ jonathan: live from new york city for our audience worldwide, kicking off q4. bond market yields are up. mike mckee joins us now. mike: it looks like we are doing a little better than we anticipated. the spending numbers have come up eight -- incomes come in at 2/10. here is an interesting.

sean or tom crease of the come. the martin i'm ended in glycogen feler and the question of where metals remains what to do with these raw materials present in solar panels, electric batteries, and wind turbine rotors due to the lack of investment. and despite their rarity, most of them are hardly recycled at all. so if you could possibly spend on the screws, cute, extend immuno. but with a washer kosky soil extensively dorsey clashed on in moss, my jointed ika. so if it came all so close on proceed me to a program at the union where people jeep at to see me as a homo jengragorio of michelman. no. the city near mo, little tele, except are it took it there? ha, on his hipaa. if if you only or she came account boma pulled or she closed because mooresville will the salvation of green energies be in new discoveries. this is the gamble being made by industrialists persuaded they'll find ways to make the sector more virtuous. oh, do not, don't got to realize how does she know she teach that? blanchard driving just one exam

given midday, the destin um gains on you could see unless i was just glad you problem me. shawn or tom cruise or the can't be martin. i'm ended in glycogen feler and the question of where metals remains what to do with these raw materials present in solar panels, electric batteries and wind turbine, rotors due to the lack of investments. and despite their rarity, most of them are hardly recycled at all. so as you profess, if i spend all that good kit extended mina, but what in washer kosky? soil extend if you're dorsey clash on the most, my jointed liquor. so if it's, you know, so critical for see me through a pilgrim matina where people sheep at trust me as her homework in germany. get you over to shop at your facility or mo, little telly, to tie it to click there. ha, almost hipaa, if, if you only or she can count them up or see cash because morsel ah, will the salvation of green energy's be in new discoveries. this is the gamble being made by industrialists persuaded they'll find ways to make the sector more virtuous. if you're doing that, don't got to view additional judge. yep. lu

but they didn't reprimand him even when he started using potentially deadly force photoshopped where tom, which nodded soccer as an as a whole. would you got ga, ga from would into hall once on. and you do that have been some will you can hardly honestly, you go quieter, daughter will just hope go beware too often means miserable. what you'll, you'll, you'll, you'll, you'll do too soon. she is otarre to the dental title move, which does or would you have to dial tone to her? it's something that she found was i'm, it's on shelf will usual. hm. yeah. but aren't you? you don't to go to watch it, but i wonder if what is oh me up, but a little did honda butter and on that, do you need to the heart usa usa who wish enough honestly, saddam for the future when she do show you step on shall you not uses that they won't get on the mamma puzzle everywhere. dollar you. pollard g r o to gov. im will i love little no room will not uses or passes and we had had enough producing word to wish i would. it's our job little poor. you said the sort of told us a lot, all of our rope away. i hope only it's has

tom: i have nothing to say. jonathan: from new york city, this is bloomberg. >> with the first word news. democrats are signaling they will accept senate republican leader mitch mcconnell's offer to raise the debt ceiling which would allow the immediate risk of default. it increases another political fight near the end of the year. a federal judge has temporarily block texas' new ban on most abortions. he said the law outsourcing enforcement to bounty hunting members of the public was contrived to get around a constitutional right. it is a major win for the biden administration, which has sued to overturn the ban. damage from the coronavirus expand well beyond the virus according to a study from a health system in st. louis. it found even people never need hospitalizations are in danger of developing heart failure. in china travel during the , so-called golden week national vacation was down by a third from pre-pandemic levels. government measures to contain coronavirus outbreaks prompted vacationers to spend ti

tom: no, please. [laughter] the only time cricket ever worked on "bloomberg surveillance" was i got a massive result, i hope lamp announcing it correctly, from perth. let's do the data check right now. we have a good guest on what to do with the portfolio. futures up 17. the vix, 15. it is a bull market. jonathan: all-time highs in this equity market, advancing 0.4%. yields in a basis point on tens. a snooze in the fx market. kit juckes calling it a snooze. in the commodity market, $84 handle on wti. tom: vernice capital is in the trenches of what do i do now. they spend a lot of time talking to high net worth people about what to do in wealth management and how to participate scared stiff. the director of scared stiff joins us right now, there director of portfolio strategy. how scared stiff are people in this great bull market? >> i think they are a bit more concerned with what they are seeing in the economy. when it comes to an investment standpoint, you still have a lot of people looking at the eq

even when he started using potentially deadly force photoshopped where tom, which now did suffer as an as a whole. what you got ga ga food into her once on. and you do that have been some will you can hardly honestly you go quita data with us, or go to where to go from minta miserable would you, you'll, you'll, you'll, you'll do them soon. she is or talk to the dental title move, which does or would you have to dial tone to her? it is something that she found was i'm, it's on cheryl will utah, whom yeah. why don't you, you don't go to watch it, but i wonder if what does pull me up, but a little you'd, honda, but our, and on that do you need to the heart usa usa who wish enough the only so saddam for the future moment you do shall do step on, shall do not use it that they won't get on the mamma puzzle everywhere. dollar you . pollard g r o w will i la, lead circle know you will not uses or passes me. katrina put us in words. wish i would. it's our job holden, so poor you solicit told us and thought all of our la neuropathy way. i hope only it's has to use a dagger symbol. so kadusus or

can predict the weather, but can predict tom again and why he was interested in the impact of a native war in iraq on climate change. and his dirty money infiltrates, parliament, 76 years up to the chinese civil war began. we ask if extreme inequality and preventable mass covered debts in nato nations shall arising threat once again against capitalism, all the similar coming up in today's going underground. but 1st, it's a century since albert einstein was awarded the nobel prize for physics for work on the photo electric effect. this year, it has been awarded to want to discoveries that may help save the human species from climate change. joining me now from hamburg in germany is one of the 2021. no, well prize win is professor class hassle than i thank you so much for coming on. congratulations. i've got to ask, i'm not gonna ask how you heard about it. i know everyone always asked that question, although people probably want to know. but why is it? as is so often asked of you, we can't predict whether it will rain in 10 days time. but we can predict that climate change may annihilat

tom: good morning.

while too prominent critics tom reportedly been arrested ah, hello, i money inside this is al jazeera ally from doha. also coming up the u. s. warrants to dawn that failing to move towards a civilian lead. government could put economic and political support at risk child is killed in oman as tropical sancho.

tom: it would be. we are getting ready for the weekend and into the real earnings season coming up after the banks. matt mainly's chief markets -- matt maley's chief market strategist and joins us now. i original -- i religiously use what are kleinman moving averages. there is no time on a friday to go into the math. do you use the 50 and the 200 day moving average and you believe in the death or the birth cross? matt: i do watch those moving averages very closely. the death cross and the golden cross, those are a little bit different because they work for some assets and not so well for others so i tend to look back in the past. the 50 day moving average, there is no question that until september that was rocksolid support all year long and bounced off many times. then we finally broke through in september. the old saying is old support becomes new resistance and in the last couple of days we have been bumping up against that. we can finally break above that and give technicians some relief. tom: on a

jonathan: tom will come in. helen you want to do that for, tom? tom: from here to calais. jonathan: the primacy of the u.k., boris johnson, addressing the conservative party conference. architecture would not of ignored the impact of finances. tom: what is the body language? jonathan: they are with him. it is the conservative party conference. tom: if you're in the republican convention, you have six or 7 -- jonathan: i was joking. i think they would be clapping if they could hear. there claps. please clap. >> unemployment. jonathan: there we go, the primacy of the u.k.. -- prime minister of the u.k.. tom: if i went there, it would be in hr violation. jonathan: come on. be respectful of the office of the primacy. futures are down 52. we are negative one .2% on the s&p 500. we did a market check, so let's move on. 1.5 397 for the yields. everyone is half-asleep. the dollars at 1.1537. tom keene, lisa abramowicz, and jonathan ferro. this is bloomberg. >> with first word news, brinkmanship is on capitol hill bringing the united states closer to a catastrophic default. democra

tom: no. lisa: you need to tell the story of united kingdom to tom keene. jonathan: are we going to go to london? tom: the desk patrol is out looking for a desk. jonathan: that is the only reason you won't come? tom: it would look good. lisa: take a greyhound. jonathan: we will work on it. two london? -- to london? lisa: [laughter] jonathan: kathy jones is coming up. before that, mary from gm offers decent numbers from general motors. heard on radio and seen on tv, this is bloomberg. ♪ >> in london we may be rushing to the pubs after work, in the u.s., democrats are trying a new approach to taxation to pay for president biden's agenda. that would affect around 700 people, those with at least a billion dollars in assets. meanwhile, a separate -- to pay at least 15% tax rate. president biden is zeroing in on whether to nominated jerome powell for another term. the president met with treasury aids to review candidates. he is not settled on a choice and it is unclear whether he is leaning towards reappointing powell or replacing him. xi jinping is calling for

tom brady prepared to face his former team for the 1st time that's coming up. ah, housing has become a commodity instead of a human rights. thank you. some people the ability to take advantage of others, the elite feel free to violate basic laws, the working classes that have lost a lot of ground in our society. a un special reporter on adequate housing travels the world, investigating a global crisis as people are evicted to clear the way for investors and properties too often left empty. push a witness documentary on al jazeera. examining the headline, we can have a political defensive. political difference should not be the reason for kill either human investigative journalism. it is secret location we've gained access to a training camp run by ethnic and sergent voices from different corn. i never see no american dream in america, just for your caged animal. things like that that my child shouldn't go through. programs that open your eyes to an alternative view. well, today on out here, lou. ah, or let's catch up with all the sport. hey, is peyton fmi? than

tom: a different -- a $1 trillion stock. tom: it is long -- log convexity. it was accelerating yesterday over that $1 trillion statistic. jonathan: you've got to love elon musk. tesla is very much a production ramp problem. lisa: elon musk of about to become almost twice as rich as the next richest person in the world. he might become the world's first $1 trillion man. people pointed to the fact tesla still has a junk rating. my question is what does it indicate that we are looking at companies that have gotten ahead of their skis in terms of evaluation trying to figure out what these companies are. jonathan: we know it ups is. the earnings come in. a reason to year end for ups. adjusted etf's. a nice bead for them. tom: out of atlanta you know they are rooting for the braves against the astros. they permeate the american economy. i see guidance there up what you see this morning. jonathan: much more to come on the earnings front. equity futures up 19, advancing 4/10 of 1%. yields to 1.6185. tom: it is range bound. it's something we struggled with. you of th

you can put a book on and she thought to gotten sick for jobs all night where he wouldn't talk to tom and he doesn't know we are present to doctor would you didn't you want to let you know? she got with a full sized washer. aha, you're going to happen to solution on cartoon. domestic violence is so deeply rooted in traditional values that even family members may not see the need to hope those affected. to route gateways, marriage, his parents as well as his in laws were aware that he was abusing his wife. but they didn't reprimand him even when he started using potentially deadly force that aren't where tom, watching out soccer as on there's a whole what you can. yeah. j from within to hall once on. and you do that have been some well you can hardly honestly. you got quita ta ta. what us all to go where to go from mentor. elizabeth, would you, you'll, you'll, you'll, you'll do some sheet this or talk to the dental title move, which does, or would you want to dive a some into she found was, i'm attention. would you actual hm, yeah, my doctor, you want to go to watch you, but i wonder w

good concert for jobs all night where he wouldn't talk to tom because now we're pushing to doctor. would you didn't you want to not she go the single santos aha! is a panorama just the same on cartoon? domestic violence is so deeply rooted in traditional values that even family members may not see the need to hope those affected to route gateways. marriage, his parents as well as his in laws, were aware that he was abusing his wife. but they didn't reprimand him even when he started using potentially deadly force that aren't where tom, watching out soccer as on there's a whole what you can get g food intell hall once on. and you do that there been some where you can get her to our legal quita data with us all to go to where to go from me into miserable would you of you'll you don't think she is otarre to the dental title move which does or would you have to dial tone to her. it is something that she found. i'm attention. would you actual hm, yeah, my doctor, you want to go to watch you, but i wonder what does pull me up but a little you'd, honda, but our thought that you know, need

tom: thank you very much indeed. joining us now, the cio from multi-asset macro at beaver investors. the market pricing in a rate hike as soon as the end of the year by the ecb. are the markets getting this one wrong? >> we are less concerned about inflationary pressures and potential interest rate rises in europe then we are in emerging markets and the u.k. and the u.s. for example. our expectation is the ecb will probably push back pretty hard against any expected interest rate rises over the next 12 months or so, but let's take a step back for a moment and look at the bigger picture here. globally, particularly within developed markets, central banks are still running emergency monetary policies. let's face it -- we are no longer in an emergency. the expectation that everybody should have is that over the next 9, 12, 18 months, that interest rates will move higher. francine: interest rates can move higher, but when do they move higher? if you have a repricing, and it could be from the fed or from the markets, yiel

tom: pray conversation. jonathan: looking for zero, tom. tom: i did what are the stupid fools one-time. -- pools. i have never done it since. jonathan: why did we stop doing that? tom: it's stupid. lisa: he got crossed every time. -- crushed every time. tom: 200,000. 400,000 divided by 150 million. i'm doing math or radio. jonathan: i'm going to help you now. lisa: there is a debate underpinning this company pitches a patient rate. -- underpinning this, the differential between the bearish view and thomas's more bullish view has to do on the tightness of the labor market. i find that fascinating. jonathan: the unknown. equity futures this morning up 4 on the s&p. deals up a basis point at 158.38 . there is your market board. crude approaching $80. $79 a barrel. tom: did you see me this weekend apple picking? jonathan: is that what you are up to? lisa: just driving. tom: i would go up near the acorn market. i would go apple picking. jonathan: you get an uber out there? tom: you apple pick. jonathan: why, just out of interest did you bring th

tom: but when tom asks -- lisa: but when tom asks are we overanalyzing, people are viewing it as noise. what are they actually going to say? increasingly, i here ignore everyone but for the big three at the top. that has changed a little bit too to some of the political pressures. jonathan: that is the issue. who are the three of the year for this -- for the next several months. tom: with the data, if you get the bernstein 4% gdp, the vast majority of the people we are talking to our end modeling that in. jonathan: direction of travel matters in the model of inflation here. you say nominee people are pricing that in. that is consensus for next year when you look at the economic outlook. so most people look at that. tom: i've got to take some bloomberg terminal lessons. jonathan: yes, of course. ok. i love you. you know you know. some of my brand-new subscribers don't know. we will talk about it in the brakes. it is ok. i think the world of you. tom: i took my magnesium and i just learned i need 420 milligrams a day because for older people, it helps in abusive call. at that why they ga

tom: the earnings at positive. snap reminding us that social media technology shares are not immune to supply chain risks themselves. a contraction in terms of retail sales. a drop versus a forecast of an increase. ftse 100 is gaining 0.1 percent. some members of the former members of the bank of england saying maybe investors have gotten over their fears in terms of pricing in a rate hike. in germany, gaining 0.3% and spain effectively flat. in gaining 0.2%. let's see what else is happening across the asset space. bitcoin, some concern that maybe you are getting in terms of the interest, some profit taking. sterling is in focus on the back of this commentary and reassessment potentially of the rate hike timeline for the bank of england. 137 for the pound. and the u.s. 10 year is below the 1.7% level. 1.67% is what you are getting for the u.s. 10 year. francine: looking at these sectors on the move. it is the third week in the row -- in a row that global stocks are gaining. i am looking at the european stocks. if y

tom: exactly. lisa: there is such a bigger dynamic, and you have talked about this so much, the idea of automation. don't understand some of the shifts and the transformations of the labor market. how do you gain this out -- how do you game this out? tom: many ways to go with that good observation, but the bottom line here is everybody that i respect is saying you've got to look at the labor dynamic in europe, and frankly over here as well, and in the corporate earnings announcements, i just don't see the labor inflation entrenched. 80 parts of it. lisa: -- maybe parts of it. lisa: i am wondering if the zeitgeist is shifting among the population seeing the inflationary pushes. if all of a suddenly tolerance was very dovish, very dovish ecb policy as people see what they are paying at the grocery store or for the car, that is a shift we have to see christine lagarde push against perhaps to keep with the same kind of rhetoric we have heard from her. tom: we go down in flames, folks. we tried to stay

jonathan: it is nicknames, tom. tom: blues is chelsea, right? there is a guy who dresses head to towing chelsea, when they play. -- head to toe in chelsea, when they play. jonathan: i think i met him. did you meet him going to the gym? i've met him before. thank you. we should remember these people with names, tom. lisa, the hiking in emerging markets has been real. and it has been big. let's be clear about that. we are talking about 100 basis points in brazil. 125 in chile. lisa: the fact that you have not seen strength coming into their local currencies as a result is a warning signal to some people. the idea you have seen yields continue to climb up, people are not necessarily pouring their money into developing markets that are trying to reward them with higher yields. that is a warning sign. jonathan: i won't get involved in the em-sterling debate. that currency has weakened this morning. the dollar is stronger. the government teat up a rate move before the year's end. november, this is happening. that currency is not stronger off the back

tom: essentially flat. we are downplaying the record high to extraordinary's of rise and we have the guests to talk to right now. jonathan: contrast the equity move what we see in the rates market. tom: to our audience, the rows are talking about the five year yield in the belly of the curve as they say. i don't think the five-year is in contrast to equities. it signals recovery and signals better earnings. jonathan: they say we add some weight to the belly. jonathan: this was the rotation of earnings season for me. have you seen anything like this? kayley: supply chain issues are coming from social media companies who you would think would be more immune than other sectors out there but snapchat says that people are not just spending money on advertising stuff any company that relies on digital advertising or their revenue is going to feel the effect on that i would note it's not just a supply chain issue. jonathan: 1/5 of their market cap. businesses cannot support incremental demand, that's a phenomenal

tom: it's not there. jonathan: jeff currie really started things off over at goldman when he said this was the revenge of old commodities, a space that didn't get much investment at all. those dollars don't want to go in that direction anymore. lisa: credit investors are asking for more fiscal prudence. you are seeing investors demand it in a different way, especially after getting burned in the aftermath of 2014, 2011. i think that is also a distinct feature, with extra cash flow going to pay down debt. jonathan: so those are looking better. lisa: absolutely, they do. jonathan: i heard it, just a limbs of positivity. -- a glimpse of positivity. your equity markets positive 0.1 percent. yields are in about a basis point or two to 1.5961%. heard on radio, seen on tv, this is bloomberg. ♪ leigh-ann: with the first word news, i'm leigh-ann gerrans. in north korea, kim jong-un showed off a varied arsenal of missiles designed to frustrate u.s. defense systems. it was a rare display that appeared to be the la

every tom is on come on. it is rachel of ipad called kind of a power point punctually, collision symbol conger and some mach sensors, some long valley with each i'm making khaki by deal are finished or, or soccer ball. the journal fiddler clip proceeds as a bus on my past form associate out there for the e commerce, i see don't. if you decide to do that, them see that? i think it also suited for battery to see if they sound too. so i will approve with this and i will send it along slowly problems. she knew the quote on carsa missy, on a lot of the michelin marbella, puzzled about because she's having to face of i only show somebody will call on the parking lot over these young people. i sold all the reach rob foster books. i live in a danny mom over over syndic. why? she didn't say school love to lose it in for c r a. r a. oh. good god. god, god. god doth fell mosley combs him afy mafia. the a computer security. alarm board. flexible. explosive bel sonoma. 20 bucks, not really a lot cheaper to work it and tha

tom, francine. tom: thank you. coming up, billionaires ray dalio and larry fink say they would pay more in tax, but only if funds were spent well. more on that next. this is bloomberg. ♪ >> i'm not even sure that money is well spent now. i think this is one of the issues today but i would agree with everybody. if we can find solutions where the money would be directed in a proper way, i have more to give. >> if it raises productivity and creates equal opportunity, we have to talk about the usage of money and how that is employed. that is part of that picture. if it accomplishes those things, i would support it. francine: they rethink and ray dalio talking tax, and thinking only of the money will be put to good use. a lot of the chat is on taxation in the u.s. the 15% proposed by democrats. unclear to me what that means or how that is different to the 15% proposal tax. you literally look at the balance sheet and bring it home so the taxation goes to the u.s. instead of -- tom: this is about closing those tax looph

from you and south mom the color that is flush with a with miss a with a with a a, [000:00:00;00] a tom with a good name. well, it was a good time to ship it without money order means you're only going to hook engine is it didn't go because i got, i got to say the name is a 30 to one call. you had this. if it does matter, a lot of them, you know, to show you want to know nobody, pretty small, even a call, my middle qualified with the thought it was a rosario, is that gonna show as it is a bmw list of the social engine? what does it really starting? a citizen, cindy, swimming a bill gambling a sofa tunnels. fish picked a foot off. wanted them to roy, him more than one house in his oral battle. did show him a friggin, reconditioning rosure. what was it was in the muslim hungary what of underfoot altogether the jungle new room days. roy sat in the windows listen, be thorough taken what one was own . no challenge if you saw them. hey, listen, i wanted the sun valley going in. i'm all god kathy for what all them, what alice color. we're that hold us us cuz she would in our dish or we should

tom: the vix under 15. there's a reaffirmation today that is very different than five days ago, 10 days ago. more earnings coming in. tina martin adams and the others we have talked to have said, you know what? the sum total of the earnings and revenues up. jonathan: the big tech players after the bell. microsoft, google. then onto apple. apple was in the news because of the supply chain story, a struggle to meet demand. we thought that would really define this quarter. so far, it hasn't. margins have held up. that has been the story of the year so far. tom: i think the powerpoint, buried in it, you see the reality of ge aviation. their fleet is down 18%. that is their calculation. they are parked on the ground. but away from that is the idea of pretty good margins, even with flat revenues. is that tech? no, but it is good. jonathan: you see what you get here? commentary on the numbers, and column and terry on the -- and commentary on the powerpoint of the earnings release. [laughter] you're the only man i

tonight, as in conversation with a host of mid-day w rpr tom hall. it is my pleasure and honor to welcome doctor and tom hall. >> thank you, welcome everybody it's great to have you all here. welcome to you as well and congratulation on this really, really great book. i'm glad it has been received as well as it is being received all over the country, welcome for. >> thank you very much can i also add my thanks to you for monitoring this conversation. you have been very kind to have me on your program the outstanding program i love and listen to all the time mid-day's on w ipr. i'm also really thrilled to be coming together. i am sorry it's a virtual even though i'm sitting in my home in baltimore. coming together of my favorite people in baltimore, thank you and of course the library, all of you have done incredible work. i am so pleased to partner with you, to continue to partner with you as you were incredible partner when i was in michigan as well but. >> it is great to have you here. i want to talk about this really wonderful book right at the to

tom: good morning everyone. bloomberg surveillance, our studios in new york on radio and television lisa, he has a framework to discuss. lisa: we are going to your about the framework perhaps they have agreed upon. what this means to me is the question, does the framework get to the vote for the bipartisan infrastructure plan?

but target, i don't fuss about tom. they took this step now let's hope it will be fully restored. we have a lot to gain from more trade and more interchange. former congressman fred the barrel. al, who's been given the title of border protector by them, are due to government, came to the bridge to check on the proceedings, and called on the columbian government to reopen trade. or to say my heart monitor colombian side of the border is the region with the highest unemployment in the country. the paralysis has killed thousands of jobs and businesses while we are ready to restart boilers breast. as soon as they lay the borders, merchants association says it has spent more than 2 and a half years trying to come the government to reopen. it says the closure as meant the end of 1300 businesses and more than 13000 jobs in columbia alone. and then we're going to understand that the governments in caracas and buckets are distant because they have different political ideologies, an economic system. but that doesn't mean that regular people and businessmen congregate together. and we eviden

tom? tom: thank you. coming up, how the world's leading first is career women are failing them in several ways. that is next. this is bloomberg bloomberg tom: welcome back. we are 43 minutees into the european trading day. european stoxx 600 gaining .3%. that stock gaining more than 4%. you had the stellar earnings pitch we got from u.b.s. we'll be speaking to the c.e.o. about that. this was front and center for us yesterday. president erdogan threatening to kick out 10 ambassadors. you see the turkish lira gaining 1% vs. the u.s. dollar. let's switch focus to the bloomberg ibc taking and for the millions of working women in the world's leading cities, daily life is often shaped by what they cannot do and how they are excluded. how 15 global cities rank shows each failing in several ways. joining us is rebecca. thank you for joining us. what does the index do and what were the main takeaways. >> i'll take you back to the original thinking about this index. those of us in london will be very familiar with

tom: thank god. jonathan: wednesday won't be a live meeting for interest rate hikes on the federal reserve that thursday could be for bank of england. sterling, 137 right now. 100 3420 seven is where we were at the back end of september, tom. the fear is they might be hiking into weakness. this is where they play the music. is this it? do i interrupt tom again? did you do this? kill the music. 137 22. i know who's in charge here. sterling, just a bit weaker. tk is the meeting, a live one, chief bank economist says it is. jonathan: taylor wants to know what she parachuted into. [laughter] jonathan: i will wrap it up. that's the sterling. tom: thank you. jonathan: good morning, taylor. taylor: it's my pleasure to be here and according to dan, it may not be a 600 type down with a world series, but microsoft is darn close. it's not often you see a company this size posting these gains, but it's an opposite story for alphabet. earnings yesterday had signs of slowing in the cloud market with the fourth qua

tom: there you go. [laughter] lisa: if you look at facebook for example, the shares are up dramatically on the year. amazon not so much. apple only up 5%. but if you take a look, once your starting point? we had such a huge rally earlier in the year. tom: that is classic. classic abramowitz. we have got to go with that. [laughter] the pendulum of are they. jonathan: zuckerberg should appear before congress. that whistleblower down in d.c. today. that one has got legs. that story is not over for sure. tom keene, a lisa abramowicz, jonathan ferro this morning. yields higher this morning and crude rallying up 1.28%. heard on radio, seen on tv for our audience worldwide this is bloomberg. ♪ bloomberg. ♪ ♪ >> above all else we must defend, to the hilt, our economic interests. and that means taking all steps necessary to protect ourselves against the waves of damage lifted over the years through unfair competition. jonathan: u.s. trade representative from new york city. tom keene, lisa abramowicz, jonat

have you been reading it tom/ -- have you been reading it, tom? tom: i have been. they misspelled "bezos." they spelled "musk" correctly. [laughs] laura: with the first word news, i am laura wright here on capitol hill, democrats have unveiled two new taxes they hope will pay for president biden's social spending package. one will target billionaire assets over $100 million a year for three years in a row. the other is a tax for corporations that would require the companies that report more than $1 billion in profits to pay at least a 15% tax rate, even if they qualify for a lot of tax breaks. china planned efforts to boost the taiwan's qualifications in the united nations organizations. beijing says the self-ruled island has no right to join the u.s. at half century over it was kicked out. secretary abe lincoln has called for a -- secretary blinken has called for support. and uber will be able to offer services with tesla vehicles rented from hertz, starting next week. hertz will provide the vehicles for the ride-hailing giant by 2023. global news, 24 hours a day,