An indisputable fashion, annuls the austerity and indisputable disaster. At the same time, greece, at the same time still needs more financial aid. The web tech media down almost 3 in new york to a little more than 44 a barrel. Brent crude is trading below 40 a barrel. There is growing speculation of the oil got will persist. The new king is expected to maintain current production policies. Another sign that Chris Christie may run for president. He is creating a Political Action committee that will allow him to raise money needed to seek republican support across the country. He is expected to decide side to decide by the spring whether or not to run. And irish a line an error gyre line offering 1. 5 billion, and deal requiring the backing of aer lingus shareholders, ryanair. Two earlier officers two earlier offers were rejected. In the northeast, we in new york and northeast of new york, are bracing for what has been called a blizzard of historic proportions. The storm may be one of the biggest ever to hit new york city. Up to three feet of snow is expected. This from northern new jersey to boston. Yale university, new haven. Better stock up on sallys pizza. Traffic will be miserable. Airlines have already canceled over 1700 flights. And olivia has an suv, a hummer h2 to get her to work tomorrow. There it is. We will have more reports through the morning as the northeast gets ready for a storm. Lets get ready for a data check. Equities, bonds, currencies commodities. The 10year yield, 1. 79. A little bit of euro strength. Oil, as olivia mentioned, it is an ugly chart. It simply cannot find a bit under 45 a barrel. Remarkable resiliency. Brent crude, 48. 10. The greek yield is 8. 92 percent, which is not all that bad. Lets go to the mac monitor. Nirvana. Up we go to 30 . This is the greek yield and the german yield, and it is deceptive. This is an elegant chart with that moving average. What is interesting is not just about the greek yield up, but the unusual german yield down. There are two moving parts. And also the divert is between the greek yield moving up and the rest of the periphery not moving up in sympathy. And the difference is 855 basis points versus off bloomberg 203 basis points. Really unique and all of that. After the swiss bank bombshell, the death of a saudi king, greece it may seem like an afterthought, although the news over the weekend was quite something. It evaporated sunday as the scope and scale of leftist victory became apparent. Celebration and profound establishment joe let me go to the money question. The money question is, will the new leadership be up to speak directly to germany . Yeah. I think look, they are going to Alexis Tsipras talked about how he was going to germany and not wear a tie when he met Angela Merkel. He is heavy on symbolism. You look at the choice of coalition partners. He is partnering with the independent greeks, a rightwing party, whose only, ground is that they are opposed to the bailout. He is tying himself to the antibailout line, and it will be a fascinating coalition. Is the establishment defeated and over or can they be like Richard Nixon and come back in two three, or four years . It is amazing how far the establishment in greece has been wiped out. The dominant party in greece is now nothing. You can always come back new democracy is always significant. Establishment parties everywhere are seeing her popularity fade. I heard people shouting at the rally last night, making the connection with what was going on in spain with the Austerity Movement there. Does this victory light a match for antiausterity parties across the continent . I think that is the huge story in europe, the fact that there is this sort of pan european leftists movement. The head of put apodemos this is the big story. I a lot of people on the european left are hoping that greece is just the beginning of a bigger story. Joe weisenthal, thank you very much. Right now we bring in hans hume, who has brought in terrific perspective of emerging markets and the dynamics of distress. You like distress. There is opportunity in distress. Is greece distressed . I do not think it is extremely distressed, and the relatively muted reaction of the market to the fruits of victory lays out that this is not as much as the media likes the headless likes to hype this the far left Extremist Party if you look at the economists behind them, you are not talking about far left. Youre talking about people voicing illegitimate there was a movie in my youth called z, which was a hugely popular movie and was shocking about the left in greece at the time and the brutality of it. This is nothing like me dynamic in athens. The relevant thing is to talk about some of the key people. You have citrus seecipras former communists. They are much more like thank you. Could you make a banner of that. More like lula than chavez. That is brilliant. Absolutely. All the rhetoric is tacked way to the center. If you think about what these guys are saying, it is consistent with what mario draghi is trying to do. They are pushing back against austerity as a way to promote growth, which is right back to whether versus keynes. You need a legitimate left party to question the austerity pressure from germany, as soon as it became obvious that they had a legitimate shot, they were reaching out to the Investment Community to not only say to the media we are not going to be trying to come out of the euro but also to the investors to say what we are looking at is something pragmatic, more focused on growth than austerity. What about the shipping tycoons that we hear about . Do you think they are going to be taxed . I think so. Money against the oligarchs is a very good way to start to instill some of the measures that the germans might want as a tradeoff. If you need to deliver some measure of increased taxation to greece you do not want to spook the population. What is the Investment Opportunity here . You are the king of distress. I see a lot of churning and we are doing and International Relations show every day. With geopolitics. Where is the money opportunity in all of this . Your assessment of this is that they will be some headlines around some of the initial negotiations between frankfurt brussels, and athens. It is going to be in greece. Do you believe in euro parity right now . I dont think everybody is climbing aboard the bandwagon. Matteo renzi says in his dream says it is his dream. Eurodollar parity is not inconsistent with that. I do not understand why there is such drama around this. What does qe do for greece in europe . The targets that are set for them to achieve in july again, you read it, you realize there is enough room for compromise on where greece is coming from and frankly, what berlin is going to want. Hopefully that gives them something they are going to achieve and they can become part of the qe. Would you adjust u. S. Investments based on the last 10 days of news flow out of europe . If someone was in bluechip stocks, before 401 k , or whatever, how do you as a pro adapt to the amazing news flow with swiss bank, denmark, negative yields, etc. . I am really blind to my skill set is not welladjusted. In our world, the Investment Opportunities are really amazing to read do you have any interest in european debt . We are very interested in newmont even though there is no we are very interested in . If things work, you are going to do quite well. Hans humes. Bill gross will be in the next hour. Tweet us bsurveillance. This is bloomberg surveillance ,. A primer for you, in the loop this morning. On austerity, he has been aggressively against it from the get go. David blanchflower, at dartmouth college. 8 00 a. M. This morning. Look for that. Bloomberg surveillance. If you have looked out the window this morning, you had better be preparing for the worst storm in history. That is what mayor build of lazio is telling new yorkers as that that is what mayor build of lazio is saying. It is irresponsible. A mayor comes out, we are all going to die according to meteorologists, not just tom keene, the storm may job three fleet of snow today. The mayor says his message to new yorkers is to prepare for something worse. Now is the time for extreme to prepare for the extreme weather. One to two feet in new york city, over those goofy in two spots. We will be counting it in feet, not inches. Not only snow impact will be felt, but also when impact and coastal erosion. A brief reprieve wednesday. Here we are at storm center. Here is virginia and washington d c, and it is and washington d. C. It is going to dump if you are at yeah right now you need to order pizzas. Dont we overdo the snow with all of the technology and estimates . I would say that perhaps bill de blasios ability to spin a message may not be as good as our former mayor. I will say that it is partly january. We need to prepare for blizzards with wind at 50 miles per hour. But i refer to mr. Carolyn of Bloomberg Radio. One to two feet in new york . 122 feet in new york city. Over one to two feet in new york city. Over two feats in some spots. I am looking forward to getting to work skiing. We hope that everybody particularly over particularly older people, shoveling snow and 1800 flights have already been canceled. Experts say that is the way you want to play this. When you are you coming in, about 2 00 a. M. . I might have to walk in from chelsea. I have done that a couple of times. It is gorgeous, peaceful. It all depends on how quickly it falls. There it is, storm center. Stay with bloomberg surveillance. We continue storm center watch. There is no know in zurich. Stay with us. Bloomberg surveillance. Good morning from new york city, everyone. Bloomberg surveillance. Oil is weak, not as weak as it has been over the last three hours. 45 and change. Mine comes from Richard Haass, a friend of the program writing, the big risk for saudi arabia stems from the appeal of isolates of isis to a population that is young, poorly educated and underemployed. The internet, more than bombs, to be the governments undoing. The issue is that the view of what is going on from saudi arabias Strategic Point of view they are losing ground in the neighborhoods. If the u. S. Cuts in nuclear deal with iran that is relatively those are the worries as well. And Richard Haass is making the point that it is a matter of time before isis looks to attack the kingdom. And attack is the right word. I love what David Kirkpatrick did in the New York Times this morning. You look at the King Abdullah dying and the new king coming in, but the real story is the headline after the new king. I like the New York Times, new king, old order. The issue here is that the religious community in saudi arabia fostered the extreme brand of islam that literally creates the textbook that Islamic States and extremist groups are joining. Roster that in the New York Times, king abdulla was a prisoner of the system he inherited interested in reform but unable to find the room or take the risks required to see it through. We in the United States are prisoners as well handcuffed to saudi arabia. The elephant in the room is oil. How do you play that . Obviously saudi arabia is involved in trying to knock out not just in terms of country but at the same time, the how do you filter the politics into how you look at investments . It has been tricky for us. We along with other people in the Investment Community did not see did not expect to see oil come down as far as fast, and it has shaken up the markets. Any other Oil Producing company has been shaken quite a bit. At this point we are trying to stay away from the pessimistics, self side analysis. If you take a look at a country like ecuador they are aggressively cutting their budget and adapting. They are adapting. And this is important. Haass said countries struggling with qatar struggling in the region should point out, 18 dead over the last 48 hours. Many journalists still in jail. Syria looking very much like a puppet of iran. I really like a quote from yesterday, his dynasty is founded on gangsterish control of it strikes me that the president of india is here today and we are celebrating our relationship with india. And then he says that there is a disconnect with our current relationship with saudi arabia. Is there a mature market within the middle east, within the gcc, as it is called . Is there an opportunity to play politics with investments . We started doing things in the middle east in 2009. Has it been successful . We are involved in a couple of fixed income plays in saudi arabia. There have been some good bets there, but in terms of a true market, that if strict how to define that. The market views saudi as stable . I think so. But i agree with your analysis that there might be some cracks. Hans humes, you are staying with us. This is bloomberg surveillance , on tv and radio. Good morning, everyone. Bloomberg surveillance. Tom keene with Olivia Sterns. Lets get to top headlines. Axis Capital Partner read, creating an 11 billion company. That comes amid accelerating consolidation in the industry. The new company will be a lung one of the five largest reinsurers. Aaa says u. S. Drivers are paying less for gas than it any time since march of 2009. The average price at the pump has fought that has fallen has fallen for 122 straight days. The average price for gas has reached 2. 04. Another triumphant weekend for warner bros. American sniper, the Clint Eastwood or drama starring Bradley Cooper, dominated the box office. The film nominated for six oscars has so far collected more than 200 million in north america. I can say that i added 30. Did you see that . I did. The surveillance movie review with Olivia Sterns. Bradley cooper gained 40 pounds in 10 weeks. Clint eastwood paste it terrific paced it terrifically. Believe or not, that is Sienna Miller with brown hair. That you did not know that. Mario draghi speaks and markets adjust. The 10 year and the u. S. Dollar may get headlines. But the impact on Serena Miller is that right . Sienna miller. Sienna miller and emerging markets are profound. Hans humes is the chairman and chief executive officer of greylock capital. Bring up the chart here. This is the chart. I saw this on twitter. I am sorry i cannot get credit. I have never seen this chart. That is the yield curve moving from left to right. What a great chart by our department. It is all negative, out to a good 12 years or so. Hans what does that do to your world to see the great switzerland completely distorted . First off for the record, olivia, i think tom is threatened by Bradley Cooper. And gaining 40 pounds. Thank you. Continue. In our world, you are seeing a complete bifurcation of risk. You have the risk on assets that are blowing out, and anything that seems to be some kind of safe haven is coming in. Switzerland germany, all the yields are going to the point where it does not look and dollars, the backstory, was like thailand. It was like thailand, as in the government tangentially dealing with draghi. Can the government close the gap . The gains that we speak to in copenhagen say yes. It will be interesting to see. They seem to be gearing up for an attack by speculators, and we will see how it plays out. It is hard for me to form an opinion on it. I am not an fx guy. What is the price to nondeveloped nations of developed nation monetary action . It has put some real pressure on all the emerging markets on the debt side, and i think that you are going to have to wait for this liquidity to come through the system and see if there are risk assets. That was a lead comment from lee frankel, circling back to stop the analysis and weight and see what the ramifications are. I was interested to see before the drop in the price of oil and before qe, we were expecting top us to be dominated by russia. We were expecting davos to be dominated by russia. Why are you still finding opportunity there . There are a number of companies the Balance Sheets investment grade, they are subject to the shock of obviously oil prices, but also the sanctions. If you take a look at oil in the russian economy, in ruble terms, it has not moved at all. And their expert their exports are all hard currency. Are you saying i am long in russia . I think that the individual piece of paper the ukraine and russia it puts an overlay on everything in Eastern Europe. Our analysis in context on, we have to Pay Attention in kazakhstan, we have to Pay Attention in terms of working out with some arrangement with creditors and the imf. I found it surreal, francine lacquas conversation with portion go with poor roshan go does the jump on russia change your investment phases at all he . Not really. If we are looking at Credit Rating agencies we will be one step behind. So you can take a look at the potential impact on the technical basis, but our analysis on russia the sovereign still is not that attractive. It is in the Corporate Bond world, given the new volatility that comes with the regulatory environment. You have got really good bargains that are available. Because nobody wants to touch it. Nobody wants to touch it, and it was 15, 20 points in a matter in a manner of weeks. There is a question of if you want to catch falling ice. It has been a falling ice environment for the last four weeks. You are staying with us hans. Are the oil markets poised to rebound . We will discuss what history has to say in our single best chart. Are we seeing 1986 all over again . This is bloomberg surveillance on Bloomberg Television streaming on your tablet, phone, and bloomberg. Com. Good morning, everyone. Bloomberg surveill