Soccer world cup will take place in brazil. It will determine the competition at the tournament. This is a big deal. That is more foreign than the jobs report, actually. State tuned. Current, commodities, stocks, bonds were nearing 1800 and the futures. Yields go out. The dollar is stronger, con founding germany. They won a weaker euro and they do not get it. This is aond big deal. Underer chinese currency, is at australian dollar. 91. We scoured the papers. So much is going on this morning. All of it is centered on the passing of Nelson Mandela. He is the front page story. Today is job stay. The results of the survey say that payrolls have increased in the month of november. The feeling is like this . It will probably declined to a low. The assessments have been upgraded. And Financial Capital rights this warning that Bond Investors are ratcheting up their payroll expectations above 200,000. The investor feeling within the bond market is you see this in yields. It gets to ambiguity. Ron burgundy would have gotten that. The ambiguity is important. The yields are higher. The bond market has reacted more quickly. We also got gdp yesterday and that was revised a lot higher. A lot of people are cutting their Fourth Quarter estimates. Sales were pretty light. Finally, the passing of Nelson Mandela. Widely expected, but there it is, the moment. I particularly liked the cover of the new york times. A beautiful shot. They released his wonderful obituary last night. Was 10 or 11t screens. It was outstanding. Early to appear on some front pages, but there was an interesting insight. They examined him as a humanitarian and a politician. That is something we do not necessarily hear a lot about. And there are mourners in south africa as we speak. That is a live shot. There is eight or nine hours difference there. Into the afternoon. Still a deeply divided south africa. Richard haass will join us in the next halfhour. Then we will bring in maxine hot Maxine Waters. She will have her perspective. Back, the tension was tangible around sanctions. There is an example of sanctions at work. It changed the game for south africa. It changed the way that consumers felt like artists paid and political issues. Page this our front morning. Still a polarized south africa. At racial issues are front and center. Foring us is our editor Subsaharan Africa the former ambassador of the united dates nigeria are right on the continued divide in south africa. What is the distinction between white and black south africa membrane Nelson Mandela this day . Remembering Nelson Mandela this day . I do not think there is a strong distinction. Their coming together. His death has brought people of all colors and races and classes together again. It is a United Nation today. People are mournful, but theyre celebrating his life. They are gathering at his house in northern johannesburg, where people are paying tribute and releasing doves. They are laying flowers and whatever they feel fit to honor him. Tell us about the remembrances. Primarily, it is a johannesburg event. This is the biggest city in south africa. It is where the he spent the bulk of his adult life. They are announcing what they plan to do now. Quite a lot will happen on the island where he was imprisoned. Most of the events will take place in johannesburg. There are press conference is being called this afternoon. They will be 1 00 london time. In cape town, desmond tutu will be speaking about now. We will look forward to that. Im curious, he retreated from public life for many years. What is the ceiling of the lack of moral void now in south africa . That, i think that he has been out of the public for many years. He has not been seen since the 2010 world cup. Nevertheless, he is a big figure. They appear to have lost their way. There are a lot of scandals. Theyre losing support among both lack and white south africans. There is a void and i think that this will be emphasized by his passing. Thank you. Morning andst this for the entire bloomberg surveillance is our political analyst. So much of this was predicted. I think there has been some really lovely remembrances of Nelson Mandela. People knew this was coming. It has been most interesting to look back to the tension. The thing about him is that he is a hero to so many people. So many people had never met him or been to that town. His story is an amazing story. It is the journey of a human being from a very flawed individual. He was not perfect, he was not a saint. He went into prison angry at age 44. And came out accepting. I wrote about this a little bit the bull of what he accomplished happened after he was 72, when he got out of prison. The bulk of his accomplishments happened after most people retire. Here are his remembrances. He did this for abc last night. He was not a perfect man. He made his own mistakes. That made him a more compassionate leader, a leader who approached his country less judgmental he. He grew up essentially in royalty africa. He had an attitude. Historyed africana in in prison. One of the famous things, the poll him that he had ctus. Cell wall, invi he became a real human being after 28 years in prison. He actually considered, in the end, prison was a gift. Will join usass and Maxine Waters will join us in the next hour. Lets get to some company news. Starting with time warner cable, the new ceo is ready to sell if the price is right. In mergers has given him the experience to know a good deal when he sees one. Their rivals have considered making bids. Nissan is bouncing back in china. Sales of the country should be stronger than gains for the first time in three years. They were among the hardest hit Japanese Companies last year when a territorial dispute over islands led to a boycott of some japanese products. And los angeles goes after citigroup and wells fargo. They are accusing them of discriminatory lending. Loans thatssuing could not be afforded. That is todays company news. A lot more to talk about this morning. Jobs day, of course. The market reactions throughout the morning. Please stay tuned. Our continued coverage of the death, the passing of Nelson Mandela at age 95. Nelson mandela remembered around the world. Lost one of the most influential, courageous, and profoundly good human beings haveany of us will ever seen on this earth. He no longer belongs to us. He belongs to the ages. Good morning everyone. 9 00 hour. In the of coarse, they will talk about Nelson Mandela. Check that out on in the loop. I am tom keene. Alix steel and scarlet fu are with me. Today, Bloomberg Television is focused on ebay. West will give us perspective on ebay. They will give us the first word. We will go inside ebay. When you look at them, you compare it to amazon. What is interesting is that they both benefited from the shift to online commerce. They have both done very well. They are projected to grow as much as 15 . That is three times as fast as the overall total. Stock prices tell us a different story. Amazon set a record high. Ebay reached a 52week low. Both have corrected. It is shortterm fu. Bring up the longterm charts. The oneyear chart. Lets bring up an elegant chart grid you are showing the train wreck that is ebay. They going nowhere compared to amazon. It actually stumbled before black friday. The forecast missed analyst estimates. They were up 12 . It is only 14 billion last year. Lets not forget that. Why is the stock going nowhere . Is in a large part of their business also paypal and stub hub . Lower margins. And the fact that they are seen and as a much owned Retail Company that benefits from seasonal events. Also on the enterprise side. Think about web services. That is something they do not have. The last time that matt dowd was on ebay, he was looking for i bought a london taxi. An entire taxi on ebay. How many other bidders . None. I got it for 4000. I gave it to a charity who auctioned it off. Why did you go to ebay for that . Was there Free Shipping . No, there was not Free Shipping. That is a big distinction as well. Free shipping is the holy grail in ecommerce. Amazon has Free Shipping. Ebay does not . The person who sold him the car is going to charge him 600, even if it cost him 200. Never go to ebay, it scares me. Help us here. What are they doing . There are no initiatives there. They are looking at sameday shipping. It is to deliver something for a flat fee of five dollars. Have you tried to navigate their website . It is tough. They have not improved the navigation in five years. Are we too old . I was just saying that there are some production assistance in their 20s who have no problem using ebay. We need to rip up the script. Lance and has filed for a spinoff from sears. We know that there has been a lot of rumors. They had to sell their holdings. End has filedands for a spinoff. Landsve gone as much to end as i have gone to ebay. It is innovation on surveillance. He buys a taxi, we will have in ebay drone ship it. Up, the president and ceo of ebay will be joining bloomberg on bloomberg west. That is at 1 00 eastern time. We will stick with ebay for the twitter question of the day. What is your ebay strategy . Do you sell things, do you buy it now . Tweet us. We will be right back with more. Good morning. I am tom keene. We have the top job stay headlines. We will start in south africa. Mourners have gathered outside of Nelson Mandelas home to pay their respects. He passed away yesterday at his home in johannesburg. They broke the news and told the country that they have lost their greatest son. He was 95. The japanese Prime Minister is calling for a summit with the chinese president. In an interview, he said that given the recent issues between the two countries, it is important to have a leaders meeting. Because there are issues, i think there is a need to have a meeting by the heads of state. I always keep my door open for a dialogue and i hope china will adopt the same stance. That is my hope. The call for a summit comes as tensions remain high over chinas recent creation of an air defense zone. And companies are spending a bit more for holiday parties this year. Get ready to drink out. Party budgets have grown slightly over last year. Spending has been slowly rising after employers cut back during the recession. Those are your top headlines. Im having Coconut Water this year only. Why is that . I am staying healthy. I thought i saw you having with the onset. So, our morning must read. More on the life of Nelson Mandela. I have a chart and i want to talk to matt dowd. The red circle was the intention of america when sanctions began. You can see the decline in real economic growth. The blue vertical line was the presidency of Nelson Mandela in 1994. You and i remember this. Onald reagan said no congress pushed it back to him. President bush senior went along with congress as he came into office. Most people forgot the Ronald Reagan vetoed the sanctions. That was one of the main pressure points and changing what happened. It is, i think that he in the end came along and saw but he stood in line. You cannot even describe the tension and america on campuses about divestment. It was tangible. You go back to that time and there was not a consistent view of Nelson Mandela. There was not a universal sense that this was a great man. There is a very big conflict. It brings up the question of what his legacy is. What countries can also learn about how he handled negotiations. He is writing on linkedin about what comfort what countries can learn. Not only for developing countries, navigating complex transitions, but also for advanced countries. I thought that was really interesting. Is heher thing highlights how small our politics are in this country. Here is this man in south africa and what he did. It highlights how small our politics are. In the coming days, the introspection he is almost old news to modern south africa. They are struggling. They will have to struggle through a vacuum. They are not out of the woods. They remember him today, but they have a leadership vacuum coming. Bloomberg. Com will have many perspectives. Coming up, we will discuss how housing is booming. A lot of discussion about where the job growth is. We will talk about the disconnect. It is washington in the Early Morning light. December 6. Politicians and the citizens of the District Of Columbia are remembering Nelson Mandela. Richard haass will join us in the next hour. Maxine waters as well. Futures are advancing. There is a risk yields are up nicely. The euro dollar agrees. It would be big news by the end of the year. Oil is up as well. Lets go to gainers and losers. We cannot get away from the fact that is Retail Holiday shopping. It was a good season for dollar general. They are being opportunistic with buybacks as well. Positive news out of dollar general. Jcpenney is down almost nine percent. Managers said that that does not help. People wonder if they can maintain momentum after the discounting is done. Sincee prices are up 175 2009. Mortgage debt levels are rising. The only thing missing is more jobs. And we have cautions that this may create a slowmotion replay of the housing train wreck. We have to get out ahead of it. Michelle meyer joins us. She nailed the housing rebound. We dragged her in here to tell us where we go from here. I yearandahalf, you were all over this. Now what . I think this will mark the strongest year for many years. This year. Were on track for just over 10 . That is not the new normal. We will see moderation from here on. Prices are affected by exceptional factors. Those are now coming down. Distressed properties were very attractive to investors that bought. An extremely low inventory. The market needs to normalize again. This dovetails into the cautious call on growth. Looking at the Fourth Quarter, you nailed it. Are you more optimistic for 2014 . We can finally say yes. We are a bit more optimistic. Still cautious, but looking for a better year in terms of growth. Think about the dynamics. Considerable fiscal constraints. Were going to see environment it will allow for the underlying economy to look stronger. The bloomberg political analyst is with us sequestration in 2014 is different for him last year. They realize both sides realize they made a huge mistake. Interesting point to me, we had a stock market high. We have housing rates out. We have more millionaires and billionaires. You have all of this data and then you have 75 of the country saying we are on the wrong track. Will that look like Going Forward when you deal with the restructuring of fannie and freddie . Will we see tightening standards and will that hurt the economy even more . I think that is one of the challenges. There are lasting scars. We will continue to see regulatory changes and adjustments. One of those is in the mortgage market. Can i get a mortgage in 2014 . Doesnt change the radically that i cannot the mortgage . We could see some listening, but when we look back, it will look fundamentally different than what we had during the bubble. Lets look at todays jobs report. There is angst across the nations. To me, it is labor. Is there any chance of paychecks rising . So far, it has been sluggish. There is a lot of underutilization of labor. It will take time before you start to see wage pressure builds. We are making progress. Firing is down. We are starting to see a pickup in hiring. There is a brewing of frustration in the country. For a generation, they have basically see no increase. Now, they do not trust our economic institutions. The do not trust our governmental institutions. They have got no fix. We are looking at the top one percent for housing in the top one percent for wage earners. This is undoubtedly the case. Theres a lot of frustration of low Income Growth and market conditions. Yet, we have created wealth. Where has that been created . It is the stock market. I want to bring us to washington. Does this distill down to a Republican Senate . You take the economic analysis, and does it lead to the angst that youre talking about . The problem is, the country will take it out on both sides. You will see some republican senators when. I still think that the odds are that the democrats will keep the senate. The republicans will keep the house by a bear margin. Neither party is benefiting. Once weto the economy, start tapering, does that balance itself out . I think so. That is the return to what will be a more normal economy. But, it will be a difficult process. I do not think anyone can argue that tapering will be easier. An, we will return to environment of high rates eventually. We will return to an environment where the economy is lower. This the income gap start narrowing then . Presumably. What does your Economic Team learned from the bond prices of july and august . That was ugly. What did you learn from that . I think that the communication is going to be absolutely critical and very difficult. Teasing janet yellen will be different . Yes. I do not think she will be all that different. She headed up the communications committee. I think we will continue to see effort to make it obvious to the markets what the mandate is and what theyre trying to do. Ultimately, it will be difficult because this is unprecedented. The jobs report will come out at 8 30 this morning. What is the first thing you look for . Headline jobs first, then revisions, then the Unemployment Rate. Finally, what drives the and and limit rate . Are wages going up . That is all i want to know. That is coming up at 8 30. Also, we are going into ebay. The ceo will be joining us later on today at 1 00. Ebay is our twitter question of the day. What is your ebay strategy . Are you a seller or a buyer. Do you wait until the last minute to make your purchase . Tweet us. Futures