i'm francine lacqua in london. a reminder, it is martin luther king day in the u.s. so if you look at treasuries, they are closed today. the focus will be the inauguration, team coverage through the day and special coverage wednesday to understand what policies joe biden will push through and how quickly he can do so. u.s. futures are dipping, european equities also dipping. investor caution at the start of the week, even as data indicates china's economic recovery remains on track. the dollar, and edging up and crude oil. the first word news with leigh-ann gerrans. >> chinese economy expanded last year the only major nation to avoid contraction. in the fourth quarter, growth rates not seen since the start of the pandemic. nomura predicts china could top the u.s. as the world's largest economy by 2028. germany's cdu has elected the continuity candidate as its next leader. armin laschet closely resembles angela merkel in policy and style. his leadership over the ruling party doesn't guarantee he will be nominated ne

i'm francine lacqua in london. the focus firmly on the markets, not only on the euro-dollar, but also getting some january german business confidence index coming in. a little bit worse than expected. investors are focusing on the prospect of additional fiscal stimulus but also support the federal reserve policy can put in place. we have quite a lot of tech earning reports. treasury yields edging higher. let's get the first word news. >> the u.k. is warning the coronavirus vaccines may be less effective against new variations of the disease. matt hancock says talk border controls are needed to stop all the virus coming into the country. the uk's conducting trials of the vaccine on the new mutations of the virus. it has already inoculated more than 5 million people. protests have erupted across russia demanding the release of alexey navalny. tens of thousands gathered at dozens of cities. according to monitors, at last -- at least 3500 people have been arrested. the world is witnessing the greatest rise in inequalit

i am francine lacqua here in london. the market is definitely focused on what jay powell will stay in terms of future bond buying. the markets are very focused on what is happening with reddit and gamestop. one of my favorite stories of 2021, the focus, though, is stocks. a lot of focus on tech and of course the conclusion of the federal reserve policies, moving treasuries into a lot of the emerging markets. now, we have a great guest lineup for you. we will have a discussion with a dutch central banker, focusing on europe and what you see the will do, and later on in the hour, we will speak with vivian hunt from mckenzie. now let's get to the bloomberg first word news. here is leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. the eu is trying to fix a standoff over vaccine delays. did the company meet its commitment? astra is pushing back,, saying its agreement did not specify the number of doses. getting at the same time as the u.k. despite ordering at three months later. the u.k. is now the first co

i'm francine lacqua here in london. the markets firmly focused on what janet yellen will say in front of the senate committee. it's not really an interview for the top job but she is getting vetted as treasury secretary pick. it will also be a way of her to explain exactly what they are trying to achieve with the recovery plan. we are getting some news out of the iea, cutting its oil demand forecast. this is something we had talked about with the iea in the last couple of weeks. i did want to show you brent crude up 55.21. the focus firmly on it janet yellen as she explains the recovery and that $1.9 trillion stimulus package and the impacted as on demand for oil. let's get to the bloomberg first word news with leigh-ann gerrans. >> president donald trump is ending his term in office with historically low approval ratings, according to a gallup poll. his approval numbers have dropped to 34%. he has a ready had the weakest average rating of any president back to the 1940's, when the survey actually began. his final two w

i'm francine lacqua, here in london. to first word news with leigh-ann gerrans. leigh-ann: bloomberg sources tell us mike pence and donald trump spoke for the first time since the violence, pledging to work together since the end of term on january 20. if pentz fails to act, house are planning to push forward to impeach president trump again. u.k. is tightening trouble restrictions -- travel restrictions, removing the united arab emirates from its -- that follows an uptick of cases in the gulf country, which has risen 50% in the last week. self-isolateeed to for 10 days. the latest world leader to test positive for covid-19 is portuguese -- the portuguese president. as of late monday he had no symptoms. he is seeking a symptom -- a second term in the election. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm 120 countries, leigh-ann gerrans. this is bloomberg. control ofemocrats the senate paves the way for lawmakers to enact bigger spending pac

i am francine lacqua in london. the focus is on stimulus as we continue to follow washington very closely, try finally conceding to joe biden and saying that he will take office. rising ins are also europe. investors are beginning to look past toward a prospect of a biden presidency and a democrat-controlled congress. the dollar gaining, bitcoin crude oil actually edges higher. bloombergget to the first word news. here is leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. top democrats are calling on the vice president mike pence to act, saying otherwise they may start the impeachment process. it comes amid a wave of resignations over the president's incitement of the mob. president-elect joe biden has described the trump supporters that stormed the u.s. capitol as "domestic terrorists," adding they would have been treated much more harshly had they represented black lives matter. creating an atmosphere that toowed the violence happen. bloomberg sources tell us president trump has prepared a list o

i am francine lacqua here in london. there is a lot going on, not only through the great newsmakers we have been speaking to come about some news with it came to treasuries and some of the huge equity swings that may be looking at something that is more underlying, concerning to global market participants. global markets slumping, yesterday, focused on s&p contracts, after some of the files have been the most since october. we have a great lineup of guests coming up. we have axel weber coming up shortly, we have the irish finance minister, and the chief executive officer of novartis as well. brian moynihan telling bloomberg, and talking about economics and stimulus. brian: these stimulus dollars, unemployment, some supplement, $600 under 75,000, those are good items, and stimulus ought to be likewise here, because otherwise we get diminishing returns, and then we have diminishing of how we pay the long-term, but there's a lot of savings, and we expect a good second half of the year. malcolm it is a mistake everybody make

i'm francine lacqua in london,

francine lacqua in london. tom keene in new york. tom, georgia, georgia, georgia. that will set the case for what the biden presidency will look like. we also look at lockdowns in england that will last for at least two months, and we look at the implications for the vaccine rollout. tom: georgia front and center on so many different planes. we will have a lot of coverage on that. i thought that gregor stewart was wonderful, with his coverage from hong kong. from where we are across the atlantic and the way america is dealing with this, these announcements from scotland and from london, from prime minister johnson, they are absolutely stunning, aren't they? i had a: they are, and briefing from sam fazeli and i have heard this more and more. you cannot vaccinate while the pandemic is raging because there is more chance of the virus mutating, something i had not thought about. it is also critical to the infrastructure, the need to get that number down before you do that safely. markets, if you look at dollar and

i am francine lacqua here in london. it is a big news with a lot of things we are looking at, and sometimes these things happen, so pardon the voice. there is a new package, according to new deal reports, but it is certainly changing the way the market is looking at treasuries. it is pricing joe biden to propose one point $3 trillion in spending, according to a person familiar with the story, speaking to bloomberg a bit earlier. the italian 10-year yield a bit earlier, whether giuseppe conte will stay in power. there is quite a lot of news on m&a after france saying they will rebound the advances of the canadian giants. a lot of news in the markets, determined by a lot of news and politics. now let's get to the bloomberg first word news here in london. with me is laura hi, laura. laura: hi, francine. joe biden's covid relief package, the channel reports his aides have said ahead of the announcement, it is likely to include direct payments to americans and state and local funding. twitter is standing by its decision to ba

i am francine lacqua here in london. there's a lot of news going on on the policy front, having implications on the market. the inflationary trade the big story we have been focusing on the last couple of months. the stimulus case is really outstanding, difference between reflation and inflation that we can see. if you look at europe, they are also a little bit down. the dollar yield higher, opening low with only defensive technologies stocks in the green. optimism about the aid package in the -- in the u.s. has turned to a bit of concern and also concerned that we could see some taxes rising in the u.s. now let's get to the bloomberg first word news. here is leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. the u.s. is talking about a premature reduction in its bond buying program, chair powell adding that a taper tantrum is a good reminder for policymakers to choose carefully. chair powell: that is another lesson of the global financial crisis is because not to exit too early. we will let the world k

i am francine lacqua here in london. it has been quite a momentous and historic week. we look at some of the biden policies and what they mean for not only the world but for health care and climate change. a quick look at of markets, because we did have a bit of movement on the back of what christine lagarde of the ecb said yesterday. we watched with interest that press conference. nothing huge, but when you look at the trajectory for growth in europe amazing to be pretty much in line with the markets' expectations. today, stumbling, dipping as u.s. futures are, because more restrictions could come in place as an escalating and coronavirus cases, and it is daunting over earnings and plans for additional stimulus. the dollar getting higher. now let's get to the bloomberg first word news. hi, leigh-ann. leigh-ann: hi, francine. european leaders used a video call to demand drug companies wrap up production and deliver more. and they are warning against non-essential travel, even within countries. the u.k. says it is too ear

i'm francine lacqua in london. a lot of news to get through, the implications of the phone call with president trump and what that could mean before the senate runoff in georgia tomorrow. the markets, not underestimating what that could mean, but record highs not only across a lot of indices, but looking at bitcoin. gold is advancing. it is clear european stocks are advancing, minors among the biggest gainers. look athave a currencies, and i'm also looking at a couple other things, including gold rising after posting the biggest annual advance in decades. we will look at historic values. let's get to the bloomberg first word news. in london is leigh-ann gerrans. opec-plus is warning of risks to the oil market from a resurgent coronavirus. the alliance of producers is meeting today to decide whether it can continue to restore crude supplies without hitting the price recovery. at a late meeting yesterday, several countries including saudi arabia sounded cautious about increasing production. schools in england may nee

i am francine lacqua here in london. malcolm a lot going on, certainly a lot going on on the political front, and grows negative interest rates. central bank governors in europe in the coming days. the dollar is fluctuating. if you look at treasury yields, they are sliding. dollars holding onto losses after two federal reserve officials pushed back. in the last couple of minutes, we also had a headline from russia, and this is from the central bank of russia. actually, it is from the russian finance ministry, i stand corrected, they say they will review asset purchases in january. we put our backs to the markets. it is very clear whatever we are hearing in terms of what investors are trying to grapple with is an implication of rising treasury yields and the spread between the two- and 10-year not. now let's get to the bloomberg first word news. here is leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. axios says that senate majority law enforcement officers are treating it like a counterterrorism inves

i am francine lacqua here in london. now, gamestop is up some 143%, that was a very short while ago, now gaining 92%. that is of course on the back of a couple of tumultuous days we had on gamestop, and this is actually some of the trades started resuming. gamestop originally rising 143% in premarket trading, now gaining some 92%. robinhood is defending its decision to clampdown on trading and shares. chief executive vlad tenev told bloomberg no market participants force the company to make a move. vlad: so there's a lot of misinformation out there, in particular, there's people saying that we were forced to do this by market makers, to reroute to other market participants, and i just wanted to come out and say that that is categorically false. we were not directed by a market maker or any other market participant. this was a technical and operational decision that we made, because robinhood, as a brokerage, has financial requirements, including clearinghouse deposits, that we have to make to various clearinghouses. some

i'm francine lacqua and this is daybreak europe. here are your top stories. >> the crisis of deep human suffering is in plain sight. and there's no time to waste. we have to act and we have to act now. francine: the stocks lower as the markets adjuster joe biden's $1.9 trillion stimulus plan. investors focus now turns to u.s. bank results. global virus deaths near 2 million, chancellor angela merkel holds a tougher lockdown -- mulls a tougher lockdown. shares in shall meet plunge -- xiaomi plunge. happy friday, everyone. a long week on the markets on the political front. we've been trying to figure out not only impeachment, but the stimulus package, also what happens in italy -- there is no real majority in parliament, the coalition that's pieced together by shoestrings. given all of that, and given where we are this friday, it's always a good thing to look at the impacts for the markets. treasuries definitely move on the reflationary trade. this is on the back of the joe biden stimulus package. very glad we solve vix. i was reminde

i'm francine lacqua, here in london. let's get straight to the bloomberg first word news with leigh-ann gerrans. leigh-ann: president biden says he is ready to negotiate on stimulus, calling for a bipartisan deal. the white house is open to reshaping its $1.9 trillion plan , but the president says time is for the -- is of the essence for a new aid package. republicans have rejected the price tag as too much, too soon. the house of representatives has triggered the start of the second impeachment trial of donald trump, sending the single article across the senate. arguments will get underway the week of february 8. according to a statement, the former president is setting up an office to "carry on the agenda of his administration." barcelona has kept its position as top earnings only by whisker. the spanish team ended its first -- without a trophy. revenue dropped by more than 100 million euros, second on the leaderboard were rivals real madrid. the highest earning english team is still manchester united. global news 24 h

francine lacqua in london. i am tom keene you new york. sometimes on a sunday you see stories drop of regulation, malfeasance, things of that nature. there was a story in the financial times, again on deutsche bank. elisa martinuzzi joins us from bloomberg opinion. it has to be a question for all of global wall street today. what is in the oxygen, the air of deutsche bank where they are constantly running into problems like moving sophisticated derivative instruments to unapproved customers? elisa: we have to be careful before we draw substantial conclusions. these are allegations. what is striking is it does seem a reiteration of something we saw many times in previous cycles. banks selling products to an unsophisticated clientele that is convinced it is sophisticated and able to take on more risk. you saw this in the 2000s with municipalities across southern europe and what seems to be a repetition of the same practices. what you have is the pressure is on. investors looking for yield, and on the other hand, you have deutsche bank, which

francine lacqua in london. i am tom keene in new york. we are waiting for news, as we saw in the netherlands, from italy -- is it right to say a collapse of the government? francine: of course, it is something that is calculated. it is not really a collapse.

i am francine lacqua here in london. quite a lot going on, of course, with the inauguration of jill biden. what biden policies mean for the future of the economy, we will have a look at what it means also for the biden administration to get a handle on covid-19 after a pretty touching memorial we saw yesterday with the vice president and the president-elect, both flanked by their spouses. the markets are focused on the dollar declining, a lot of the focus is on earnings and the hope for more stimulus. we have a bit of a mixed picture when it comes to the send out, alibaba jumping after the billionaire jack ma. now let's get to the bloomberg first word news here in london with me, here is leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. the u.s. has given 30 5 million vaccines with president-elect joe biden saying he wants to deliver 100 million in his first 100 days. one positive signs, however, the number of hospitalizations in california is now starting to drop. in europe, germany is tightening its

i'm francine lacqua in london. tom keene is in new york. tom, i know you have the ins and outs of politics of the georgia senate race. i would point to what is happening with treasury. we have some interesting calls not only from columbia threadneedle about the 30 year longer-term but also what could happen to the 10 year treasury in the short term if we do see a blue wave. of: it is a real dovetail the political world into the bloomberg world, no question about that. just the 10-year yield is launched from 1% out to 1.02% in two lousy cups of new york coffee. in terms of the race in georgia, kevin cirilli will join us in amendment. we just saw a new take with mr. also if expanded his lead -- mr. awsat -- expanded his lead. i should point out it is in the recount bracket. it is that close. francine: the market seems to be moving. tom: the market is voting on it, no question about it. francine let's go to first word news with ritika gupta. ritika: the democrats hope that taking control of the u.s. senate hangs in the balance today. the other

i'm francine lacqua, here in london. let's get to the bloomberg first word news. here's leigh-ann gerrans. senior democrat say they will move to impeach president trump for the second time in just over a year unless vice president pence and the cabinet remove him using the 25th amendment. house speaker nancy pelosi says lawmakers will act with urgency after the storming of the u.s. capitol by a pro-trump mob. some of wall street's biggest politicalstopping contributions after the mob on capitol hill. j.p. morgan is planning a six-month suspension to both republicans and democrats. citigroup is temporarily halting all political contributions for the current quarter. britain is significantly less attractive as a location for international business because of brexit. but compared with other ituntries it is still -- says that u.k. has slipped behind the u.s. and its ranking but remains ahead of the rest of the g7. apple and google are removing social media platform parler from their app stores, and amazon will nomogram host

i'm francine lacqua in london. tom keene in new york. tom, i think the story in politics -- we have various political stories, about the u.s., about inauguration, but also it is the impact on treasuries because the covid relief package is much bigger than the markets we are expecting. tom: the numbers shifted on stimuli, and i mean that as a plural idea. we have gone from a general zeitgeist of $1.2 trillion, $1.3 trillion, and getting out to a conversation around the $2 trillion number, which tells me it's going to go higher than that. francine: if you look at the markets, it is definitely repricing, and i think we will have more details on joe biden's economic plan today. what is important is how joe biden shifts the narrative away from trump, trump, trump, almost hourly, and that feels significant. tom: it is going to be a problem. someone asked me about that this money, and i said i don't know when the pardons come, but the problems will come from president trump. shifting the story from this narrative in the united states is going t

i'm francine lacqua in london. tom keene in new york. tom, i have been reading extensively of janet yellen, her testimony, what markets are looking for. they want to ask janet yellen through the senate committee, and of course it is about a very different inauguration this 2021. tom: we can go short-term chair yellen, secretary yellen, and look at the history of the moment that we will see tomorrow, i'll coverage beginning tomorrow bright and early. to chair yellen, i would go over the long weekend in the united states, stimulus was at hand. whether it was prichard in the telegraph talking about 25% of gdp, all in, or even the debate, francine, in the united kingdom, over the length of stimulus before austerity. it is a raging debate, as chair yellen speaks today. francine: it certainly is. if you look at the finance ministers of the g7, the finance ministers -- talking about raising taxes as soon as easter. tom: that will work. francine: let's get to the bloomberg first word news in new york city with karina mitchell. karina: treasury s

i'm francine lacqua in london. tom keene is in new york. tom, i know you have the ins and outs of politics of the georgia senate race. i would point to what is happening with treasury. we have some interesting calls not only from columbia threadneedle about the 30 year longer-term but also what could happen to the 10 year treasury in the short term if we do see a blue wave.

i'm francine lacqua in london. the markets taking stock of what's going on with the virus and taking stock with what's happening with u.s. politics. the big story not only this month but this year is what happens to the dollar. looking at markets today, european stocks are fluctuating. fluctuating asso traders are weighing the concern of rising coronavirus cases, but also the key u.s. runoff election. the dollar falling and gold holding onto monday's gains. let's get the first word news with leigh-ann gerrans. leigh-ann: saudi arabia is reopening his land, air and sea borders with qatar. as leaders in the region are set to meet for a key summit that comes amid rising tensions in the gulf. the south korean flag tanker hours before it will ramp up nuclear enrichment. most of opec members including saudi arabia are opposing russia's proposal to hike supply. discussions are continuing today to give the group more time to resolve its differences. it casts doubt on an increase of half a million barrels a day that the mar

i'm francine lacqua in london. tom keene in new york. there are a number of angles i need to bring up having to do with capitol hill. we will spend a lot of this hour talking about u.s. exceptionalism and with it we have come to the end of that. markets could be underestimating the longer-term repercussions of it all. tom: that is what we are going to do, taking the res

francine lacqua and tom keene. we are looking at our bloomberg terminals try to figure out premarket. gamestop at $400 level now. right now on the social aspects of all this, alex webb we demanded we get two questions in. i don't want to talk about gamestop. i don't want to talk about the finance part of this. i want to talk about the social. are you surprised at what we are seeing on reddit? >> no. i think if you look at the trends of the past year, it should not be a surprise to anyone that where you might have had small pockets of people in towns, villages, cities around the country meeting in small groups to discuss topics about which they are passionate, the fact that now these groups can meet in forums and on facebook, twitter and elsewhere and find like-minded people and rally together to discuss a common cause, that is a thing that has really risen to prominence this year and indeed over the past five years. it has become particularly acute in the past 12 months. tom: does information harm? this phrase too

i'm francine lacqua in london. happy martin luther king day. we look at markets and politics, but first let's get straight to the bloomberg first word news. leigh-ann: joe biden is signaling his administration will be tougher on tax. the former head of the commodity futures trading commission will head the sec, and a sec member is being named to run the consumer protection group. there is that screening of the 25,000 national guard troops coming to washington for the inauguration, and according to the washington post they are concerned about extremism among the soldiers. a number of writers who stormed the capital turned out to have links to the military. in china the economy exceeded its pre-pandemic growth rate in the fourth quarter, gdb row -- rose 6.5% in the final quarter. for all of 2020, the chinese economy grew at a time when major peers such as the u.s. in japan contracted. the u.s. and the european union have condemn the russian decision to detain the opposition leader, as russian police took him when he arrived in moscow after being

sterling.3665, down from the lofty levels francine lacqua noted yesterday. francine: the british pound definitely weakening after the prime minister instituted the third lockdown. it could last into the summer. we also had disappointing economic data that has been adding misgivings on pound. also italian stocks underperforming a little bit. bond yields rising on reports. coming up on balance ian bremmer, eurasia group founder. that is 12:30 p.m. in new york, 5:30 p.m. in london. i know they will talk about biden's policies, gdp, and the bipolar world, china versus u.s.. this is bloomberg. ♪ >> i think he must continue to sign executive orders if the recalcitrance continues. >> joe biden starts with canceling the keystone pipeline, when he talks about rejoining the paris climate accord -- these are issues that spooked the private sector, that we feel hold the private sector back. red for too long. >> you cannot solve every social problem, the environment, everything, simply by running deficits. at some point you have to make choices. tom: ken rogoff there w

i'm francine lacqua in london, tom keene in new york. the focus is on the fed, and that could move some of the treasuries. i know you are focused, as i am, on gamestop. what it means for hedge funds, and on the bloomberg terminal today. we look forward to the next couple of days. tom: this is history in the making full to him and his gone from the same story, and a lot of things, an article for bloomberg opinion is absolutely brilliant. and in the last 20 minutes, francine, this has truly become history making. it is about derivatives. i am thrilled that jean is with us. he certainly has the knowledge to explain the dynamics that is going on. what is happened at gamestop in the last 20 minutes is historic. francine: it is historic, and one of the main questions is, what the regulators will do about it. we are trying to get a hold of the regulator to see what they can do. if what is happening is legal. let's get to first word news with ritika gupta. ritika: good morning. former president trump appears to be headed for a quick -- only five

francine lacqua is going to be moderating a panel with the barclays ceo and you have the governor of the bank of france. don't miss that powerful discussion. here is what is in the pipeline. france's finance minister warns of the economic fallout of a third lockdown. we will bring you the wide-ranging thoughts from that conversation. ♪ yousef: this is "bloomberg daybreak: europe." let's get to president emmanual macron as he faces mounting pressure to impose another national lockdown this week. that comes as covid-19 cases threaten to overwhelm the french hospital system. the finance minister bruno le maire told bloomberg there has been no decision to implement another nationwide lockdown. he says the ministry will continue to support all sectors affected by the virus. >> i want to insist on the fact nothing has been decided yet. we have a very important meeting on wednesday. we will assess the situation and take the required decisions. once again, nothing has been decided yet. we will support all economic sectors that are hit by the crisis as long as it will be needed. if we are t

lacqua 19 minutes ago. the story is changed. lisa: the big question here is whether this is an indios socratic issue. gamestop, starting the year with a market capitalization of about $1 billion and is now worth more than 10%. yes, it's casino, yes it's a specific story. pushing out hedge funds closing out bets, we had the biggest reduction in gross leverage on hedge funds on monday since august of 2019. how much is this something that could have fraud or consequences? it is emblematic of the froth we are seeing in the market and that is the key debate. a lot of people are wondering how much you can blow up a specific name without it affecting the rest of the market. jonathan: is this an example of what we saw in late august with the broader market, the big tech players, retail buying in, forcing market makers to buy the underlying? how much of that story is playing out here? is this a small example of something we could see on a broader scale? or is this just a $10 billion casino for a couple of days? tom:

alix: that is francine lacqua in discussion with a superstar lineup of the -- lineup there at davos. mitch mcconnell is speaking now on the senate floor. let's listen. sen. mcconnell: they stopped even modest measures to protect innocent life because i chose not to destroy the tool that allowed them to do that. that same tool that some democrats now want to destroy they used freely and liberally throughout their years in the minority, and i protected their ability to do that. republicans understand you don't destroy the senate for fleeting advantage. our friends across the aisle must see the same. i've talked a lot about principle. we should also -- about principle. we should also make this a little more tangible. let's take a look at what would happen if, in fact, the legislative filibuster was gone. if the democratic majority were to attack the filibuster, they would guarantee themselves immediate chaos, especially in this 50-50 senate. this body operates every day, every hour by consent, and destroying the filibuster would drain consent from this body in a way that would be unpara

. ♪ francine: welcome to "bloomberg etf iq europe." i'm francine lacqua. over the next 30 minutes, we will be your guide to the thriving markets. everything needed to know about the funds and the flows. ♪ francine: best month on record, european etf's take in 21 billion euros. we ask if investors can keep up the pace in 2021.

. ♪ francine: welcome to bloomberg etf iq europe." i am francine lacqua. over the next 30 minutes, i will be your guide to the region's thriving market in exchange traded funds, everything you need to know about the funds and the flows. ♪ as germany extends virus restrictions, and the u.k. enters either lockdown, when will europe's economic deep freeze finally lift? we'll d

i'm francine lacqua in london. tom keene in new york. a bit quieter on the political front after the last 72 hours. there is still the reflation trade going on, they are looking at stimulus, and they expect a lot more quiet after january 20. what is interesting is not only are we looking on oil but also touchingbriefly $40,000. tom: rather than tired or quieter, i would say people are just simply exhausted waiting for the news flow to january 20. we are going to try to do a little less on politics because we have the distraction in that jobs report. i'm not going to mince words. the latest jobs data is pretty grim. francine: we have to figure out if it is related to the lockdown or underlying something a little bit deeper. you are right, people are exhausted, tom, what if you are a portfolio manager in charge of $2 trillion, you have to make -- here is ritika gupta with first word news. you take a co-president trump is -- isika: president trump condemning the actions of demonstrators, saying that -- he promised to pursue a smooth transit

i'm francine lacqua in london, tom keene in new york. the most important tweet i have seen is something that we both follow thanks, someone from twitter now an expert on something completely different. it is amazing what we are living through. tom: it is an amazing 2021, and you have the good news of apple yesterday and that. but what really struck me with the vaccine is that you cannot get a maxine -- a vaccine in madrid, which shocked me. i cannot convey, to those that are not that sophisticated, this issue of shortselling and a large social gathering pushing against the shorts, francine, this is a huge deal. we are going to cover it heavily this morning. francine: it is a huge deal. the husband even asked me about it yesterday. the battle between the e.u. and astrazeneca is ugly, ugly. tom: francine, your husband ask you about it because your kids or daytrading from the couch. francine: even if it means day stock trading. also an important conversation with carrie lam, in which she was asked about the relationship between hong kong an

the minister spoke with francine lacqua and maria tadeo. >> to try to avoid a second wave in the pandemic brings a second recession. of course, this is connected to the pandemic, not to our political decisions because we decided not to withdraw prematurely supporting measures we decided to keep the support measures in 2021. we are trying to avoid this with our political decisions, but as everybody knows in europe are still there and this is a challenge in what we will discuss this afternoon and we will also talk about the u.s. having a conversation with former secretary larry summers. >> commissioner, the economy is now acting normal and big restrictions and delays with the pfizer vaccine. i know he said in the spring there would be a conversation on whether or not to extend the fiscal rules that have been extended. do you believe this is not going to go back to normal until 2022 and they will be extended longer? paolo: we are not seeing until now a scenario, we are still with uncertainty dominating the european environment and not only the european one. so decisions about what we call wh

i'm francine lacqua in london. tom keene in new york. there are a number of angles i need to bring up having to do with capitol hill. we will spend a lot of this hour talking about u.s. exceptionalism and with it we have come to the end of that. markets could be underestimating the longer-term repercussions of it all. tom: that is what we are going to do, taking the resources of bloomberg news. i want to go back to your opening there. we have forgotten that there was a death, a murder, a shooting yesterday on capitol hill. this goes back to the history of washington. this is seared into the memory of washington institutions, the truman assassination attempt of 60, 70 years ago, attempts made all the way back to the war of 1812, and the true attack on the capitol by the british. all of these are touch points that give us perspective on what we observed yesterday. francine: and remember, we all lived through this with live television and live -- tom: absolutely, the immediacy was extraordinary. francine: and with a couple of hours sleep in

i'm francine lacqua in london, tom keene in new york. i know we talked about the beautiful fireworks and what america does best, which is show the world its power, it is policies that joe biden will put in place and the fact that some moderate republicans came out against the $1.9 trillion package is not insignificant. tom: but it is not a surprise. it is easy to say president trump was unconventional and we get back to something new and may be familiar as well, but i know -- i was the only one at 5:00 a.m., and maybe we dragged schenker out of bed. president biden is working at 5:00 a.m. francine: putting up the national strategy -- we also heard from anthony fauci. i think just 20 minutes ago, speaking at the world health organization. that's get to party schenker, bloomberg news editor-at-large. it is 5:00 a.m. and it is clear that the biden administration wants to get to work. what are they going to do to combat the pandemic? party: one of the things they are going to do that is pretty significant is invoke the defense production act

i'm francine lacqua in london. tom keene in new york. tom, i have to say once again, it is all about u.s. politics. we are trying to figure out district district, state by state what the thinking is, whether impeachment can go through, and the bombshell from the new york times about mitch mcconnell's thinking. tom: there is no question the impeachment process today will go through. that is a given. but what is so interesting, moving to 5:00 p.m. this evening, is the then what. the then what is really important. if i could say one thing, the statement by the military yesterday in the history of this nation was absolutely original, what the joint chiefs of staff wrote in a one page memorandum -- excuse me, a two-page memorandum. a one page memorandum to 2 million people. it was extraordinary. francine: they are trying to figure out if there are enough republicans in the senate to impeach the president. mitch mcconnell, i believe, is the only person who can recall the senate. is there any chance that he would do it? tom: we will talk to our

i'm francine lacqua in london. tom keene is in new york. we have a jampacked show for you. the eurasia group seeing dead and cybersecurity as major battleground in the u.s. the china tech war inspecting two countries -- writing a slowdown or a halt to data across borders will disrupt business models that rely on free flows. we are delighted to be joined today to talk a lot more about these topics by cliff kupchan, the eurasia group chairman. andy international policy director. when you look at the top risks in cyber, who actually understands what kind of hacking artificial intelligence we could be facing in 2021? >> i think one of the main challenges is that companies have a much better view of risk compared to public authorities, governments, and this has really played out clearly in the solar wind intrusions that we have seen recently, where it was a cybersecurity firm that had to disclose that this was happening, a very good step towards transparency. but i think the balance between public institutions, democratic authorities, the public interest, and private companies i

i'm francine lacqua in london. tom keene in new york. frankly, there is no other story in the world apart from what is happening in the u.s. right now with the democrats nearing proceedings to impeach president trump. the other story is lockdowns. not only vaccines but just in the u.k., could tighten lockdowns in england. i'm not sure how that is possible given where we are in london. there is word angela merkel is prepared to extend some of the measures taken until april. ," i saw the success -- tom: i saw the success of israel versus the known world in getting out the vaccinations. you are right, there is no other story. we will bring you the events throughout the morning. the president meeting with the vice president yesterday, what we will see on tuesday and wednesday. far more than that is the drama, and for republicans and democrats, the new measurement of the hurt inflicted by the siege at the capital. -- at the capitol. francine: let's get to first word news with ritika gupta. ritika: vice president mike pence is signaling he wil

it is bloomberg surveillance, francine lacqua in london, tom keene in new york. i want to begin with our washington news bureau, craig morton, kevin cirilli, and all. they worked right through the weekend. it is an historic moment for the nation. francine: it certainly is, and i think

lacqua. it is a stunning number of months out for germany to consider a lockdown. we see and extending of timelines on the lockdown in europe, and then we come over to america and the frustrations of vaccinations. we will have much more on that from the johns hopkins university. then we moved to the politics of washington. kevin cirilli has been wonderful on that. he has spoken of a real lockdown we see pre-inauguration in washington, and certainly as we wake up in washington, good morning to our washington radio audience, the idea of on a tuesday, what do you do? is perhapst we do wait for speaker pelosi. the house will act, and then kevin suggests we move on to wednesday and devote by the house. then what is a huge mystery. i take note of all the important stories. the story from bloomberg news, sophie alexander and sonali basak, was thunderous. i was stunned when i read the story. deutsche bank pulling away from the trump's. no surprise there. what was stunning is the new york bank will pu

i am tom keene at the casino in new york, francine lacqua at the casino in london. aoc and ted in agreement. we will do that, balance of power :00 noon today. i am threatening to do it for david westin. you nailed it this morning. this is going to go to other asset classes. tell me what you have learned about commodity-based london with silver? francine: i was looking at some of the option trades. this is thanks to the power of bloomberg. it is incredible when you look at the number of volumes on silver options. traders on right saying this is our next -- reddit saying this is our next big squeeze. if you are a hedge fund manager, gu make a reddit account -- do you make a reddit account and try to follow what they do? there is a great piece that came out moments ago saying whatever this will turn into, it will be historic for finance. i go back. the only one in the building besides me is marty that actually remembers the hunt brothers. francine: before that, tulips. tom: marty remembers the tulips. francine: you are not around for that. tom: what you will need to fo

i'm francine lacqua in london, tom keene in new york. tom, there are a number of signing of new executive orders, but also a big story for bloomberg surveillance. you are vaccinated yesterday, and i cannot wait to know a little bit more about that. maybe we should start with the biden team. tom: the biden team is here day after day, starting at 5:00 a.m. there are different signals including a different communication strategy, and i'm sure that is part of it as well. today on the labor state of america -- this for into everything that we do, francine, which is either the perception or the real reality of where labor is in america. as we heard from gallup yesterday, hamed eunice -- mohamed younis, america is really upset about his place in society right now. further executive action this morning. francine: i'm looking at what we know to boost food assistance for impoverished americans, which joe biden should sign today, it also federal contracts and a step toward his opposed minimum wage hikes, which would be an immediate help for the eco

matt: if you do want to watch tv, watch francine lacqua. ♪ francine: a new dawn in america. joe biden becomes the 46th president today. trump issues pardons, but none for himself. and shares surge. good morning, everyone.

francine lacqua spoke to the ceo earlier today. >> in 2020, we had a really compressed technological shift in the way we work, the way we live, and the way we can unit hit with the outside world. so we think that these numbers will be difficult to replicate going forward. francine: this shows, gamestop, how retailers can turn the table on big positions. what does this mean for asset managers across the world? what does it mean for norwegian sovereign wealth? >> for us, it does not mean much. we are long-term, a large investor, and have no exposure to the company you mention. for this, no big implications. tom: tom keene in new york. thank you so much for joining us today. it seems almost visionary, with all the controversy of your selection, as a hedge fund guy, with all of your charitable events, and the wonderful british museum show you sponsored recently, what i find fascinating is they have let the fox in the chicken shed. you have such an advantage as a sovereign wealth fund with your hedge fund experience. how are you counseling your wealth fund to buttress against the excesses