Surveillance. Good morning, everyone. Good morning. Bloomberg radio, good morning. Bloomberg television, good morning. An extraordinary, eventful week, it is always busy this time of year. We have got the overlay of what is going on this time in washington. The chinese president speaking earlier, the markets with all sorts of talk of bubbles. Morgan stanley any moment on the bond bubble. John, an open question as you migrate back to new york, how was your sabbatical . Jonathan i read a lot about bubbles just like you did. To me, what is interesting is not the magnitude, what we dont talk enough about is the duration of the distortion. This distortion existed precoo vid and has persisted for the best part of 10 years. Typically we think of bubbles as something temporary. In the bond market, this is the story for the last several decades largely because of policy with central bankers. They hold the keys to unlocking the bubble as well. If they step back too quickly, i dont see any appeti
Industrial production rising 7. 4 year on year. The estimate was 6. 9 , so exceeding expectations. After rising across the space, this year, november, and a fitting from export growth benefiting from export growth when other countries have struggled. Better Industrial Production coming in at 7. 4 year on year, the estimate was 6. 9 . Rishaad just also, retail sales with a lot of data. Slowing a slight showing a slight ms. , 4. 6 and we were estimating 5. 5 . That means year to date year on year, 3. 9 contraction as far as retail sales. A bit coming through with fixed asset investment. Haslinda thats right. Fixed investment rising 2. 9 year on year, the estimate was 3. 2 . Overall, we are seeing pretty mixed response, or rather mixed data out of china. Lets get some reaction to the latest gdp data. Joining us is our guest. Good to have you with us. What do you make of this mixed bag of data . Retail in particular disappointing. Yeah, i think retail is on the weak side. One thing we noti
So help me god. Congratulations, mr. President. Manus with these words, the United States inaugurates the 40 fixed president. Joe biden pledges to unify and end the uncivil war. Covid ravages europe. Britain and germany suffered their deadliest days with u. K. Hospitals like a war zone. Lockdowns grow longer and harsher. How does the economy cope . Thats the question before the ecb today. Good morning from our middle east headquarters in dubai. Im manus cranny. Its your daily edition of daybreak europe. So a new era begins in the United States of america. And they roar. The s p 500 had the best Inauguration Day since 1937. Everything rallies. Netflix up 17 . There was a collapse. In the depths of the report, they warned about a tougher First Quarter. Joe biden faces this coming down the pike. Hsbc buying everything. Warning noises from bank of america. To the dollar. Unleash the hounds on the downside. Both of my guests say that we must differentiate the dollar. We will talk about that
We are seeing the aussie below 77 after the overnight decline and the yen is trading below three levels here. This is ahead of Janet Yellens testimony. Nonetheless, given the low rates and economic coverage expectations. We will get back to the official story as they are looking at farewell ceremonies with joe biden. Trump will be the first living u. S. President in a century to skip the regular exchange of power. Lets get more on this. Josh, theres a lot of sort of unprecedented elements and we are getting his latest Approval Rating falling to 34 . Whats the tone that hes leaving the white house with . Hes potentially abandoned the daytoday work of governing, unheard of numbers in terms of his Approval Rating. Any effort to plan him a goodbye as a counter programming to the Biden Inauguration is just another projection and on top of that, of course, weve got the pandemic and of the Security Threat hanging over the inauguration here in washington. It looks like something of a war zone
Highs, they did it without higher Interest Rates. It is a really telling idea. I know lisa will dive into all of that. It is not that stocks went up yesterday it is the way they went up that was important. Jonathan lisa will run us through the events we need to keep our eye on. Tom keene, the event i have my eye on, 11 00 a. M. Eastern time a boat tied bow tied tom keene goes down for his first vaccination. Tom ive had to wait because im so young. We are going to get out front and get the vaccine. It is an important idea that worldwide the urgency is there. You heard from dr. Fauci yesterday. With the release this morning, in germany, record deaths. Mexico with record deaths yesterday. Everybody has to get out and do it. Jonathan certainly a lot to do on the vaccination front. We could talk to that about that a little bit later. The focus on europe in 45 minutes. Lisa ecb and Rate Decisions followed by Christine Lagardes press conference. It will be interesting to see how the ecb could