>> good morning. this is bloomberg daybreak: europe. i'm lizzy burden in london and

these are the stories to cite your agenda. global markets on alert as pressure intensifies on president biden to drop his reelection bid. some democrats see, harris as an alternative. stocks rally led by tech stocks. soft u.s. economic data back the case for a rate cut. ukraine's president challenges donald trump to come forward with his plan to end the war with russia, saying any proposal must preserve his country sovereignty. very good morning. welcome to the program. help independence day. u.s. markets are mostly close this morning. it means trading is pretty thin elsewhere. if we take a look at the futures

picture, flat on both sides of the pond really. this is after the s&p closed at another record high yesterday, just in time for the holiday because of that weaker than expected wrath of economic data we got feeding into enthusiasm. the bad news is good news. you've got politics continuing to be a theme here in europe. the pound at one dollar 27. britain's head to the polls in just under an hour's time. branch trading at $86. let's get to the politics. it is spilling over onto wall street. the pressure on joe biden to drop out of the presidential race getting louder. biden losing support of democrats in congress. dozens demanding that he withdraw from the presidential race. the white house denying the new york times report that he's considering bowing out.

for now, kriti gupta with us in the studio. talk to us about what you know so far. kriti: the new york times report suggesting that he was weighing jumping out of the race. a couple minutes after we got the tweet from andrew bates. he says, the claim is false. that will be the latest we've heard from the white house in terms of pushing back on that report. we know that president biden and kamala harris have been on calls with the democratic national convention committee. paris has met with some of her donors in the past as well which has been interpreted by the media as her being the front runner or simply rallying behind the funding for the biden harris ticket. that is sosa -- so far what we know. president biden has been consulting his inner circle about what is best for the democratic party. you are seeing schisms within

the party itself. the one united goal is to make sure this is not a trump 2.0. president biden has actively said that he's considering what the scenario might look like for him to drop out. cnn reporting the scenario would mean polls are plummeting and the interviews are going badly. he says, that's what it would take. lizzy: is there a precedent for this? kriti: yes but it's a rarity. it's only happened two times where the incumbent hasn't run for reelection. the more recent example is going back to the 1960's when lyndon b. johnson. not that reason itself. lizzy: in the lifespans of biden and trump. kriti: perhaps. lyndon b. johnson was the vice president to john f. kennedy. he inherited the oval office after jfk was tragically assassinated as well.

he chose not to rerun because polling numbers were low. as a consequence of the vietnam war and the civil rights act. the parallel is not just the fact that there's two wars going on, both of which the united states has made a very clear choice of which side they are on. also there's a voter participation story behind it. civil rights, it was about making sure you get the minority vote. i would argue it's the same case this time around. lizzy: how fast things could move. what are the next steps? kriti: it comes down to tomorrow night actually in the states. there's a debate -- an interview happening from abc's george stephanopoulos interviewing president biden. we will see what the polling looks like after that. the biden administration campaigns are watching that. the entire dmc is as well. july 11, when dnc platform committee meets. joe biden and, harris have been

in communication about whether or not joe biden can indeed clinch this nomination. this is in preparation for a virtual roll call. there's a lot of nitty getty legislation happening in ohio. if biden wants to be on the ticket, he has to be solidified as a present of nominee as early as july 21. the date is not set in stone but that's what the next few points look like. lizzy: we love it. thank you for that. she will be back with us later in the program before she heads off to the opening trade. the debate on whether joe biden is going to scrap his run for reelection is also spilling onto wall street. less than a 50% chance he stays a candidate. investors already making their contingency plans. let's get more now from mark cranfield. how is the trump trade playing out across markets?

mark: the same as 2016. after we had the debate last week, one of the first things to happen was this steepening of the u.s. treasury curve. they were looking back to 2016. steepening of the curve was very successful particularly in the first few weeks after the november 2016 vote. after that, trump got into office and they began to flatten again. initially it was a good trade. it's easier this time because the curve was inverted at the point we had the debate last week. taking off and and going towards steepening is an easier trade for people to do than the other way around. that's helping to fuel it. typically it adds friction to the long end of the curve that supports the currency as well. those things have certainly happen. they are pretty clear changes

since last week. on the other site, equities are continuing to do well in the united states. he has been seen as somebody who wouldn't be bad for the equity market. it's really the treasury trade that's in view on how much further people can push it until it reaches the inflection point which is around the flightline curve. that is still some way to go. definitely moving in that direction. lizzy: we also got a load of economic data yesterday. the jobs report tomorrow. fomc minutes yesterday. where does it leave officials on winter cut? how divided are they? mark: still pretty divided. is positive for investors. they were so -- were from the same meeting. lowering their cuts to one for this year. the dot plot said there would be

one instead of three. when you look at the minutes, they were talking about a cooling economy and they were more concerned about things coming down too quickly. it doesn't seem to add up. why did they change the dot plot so much when they are worried about the economy coming towards a slower growth trajectory? it doesn't seem to make a lot of sense. traders are seeing through that. they are seeing recent data is a bit soft, particularly the ones you mention for this week. there's no point report which is coming up which is very important, particularly if the numbers go above 4%. if it goes to 4.1, if you look at the way people calculate, you will see that he triggers this as being one of the recession inputs. 4.1, people start to get more concerned. the united states is moving towards recession. even though it's not obvious right now and there tends to be a lag. people will be watching the unemployment numbers is --

specifically for anything above four. lizzy: we bring you the sign mineral. mark cranfield, thank you for that. that's how the politics are spinning -- spilling into wider markets. asian markets aren't immune to the speculation of a trump return which would also lock trying to equities and japanese stocks exposed to china. you also have the optimism prevent cuts filtering through to today's asia session. let's get more on that from singapore. what's happening where you are? avril: the predominant concern is the federal reserve rate pass. given the weak economic data that you've just been discussing , we are seeing rate cut bets accelerating. that's asia stock age at the highest in two years. part of this coming from south

korea, taiwan stocks. more importantly japanese equities. take a look at where the nikkei and topics are sitting. this is the highest since march on the nikkei. for the topics, it's gone past the record closing high from december 1989. about 50 minutes, we find out how it closes and whether it eclipses the previous record from way back when. we are seeing training -- chinese equities underperforming today. the hung saying erasing gains from earlier in the session. let's talk about what we are seeing in japanese equities. it's helped along by fed rate cut bets. also corporate governance improvements. that's also helping to fuel this attention and demand for japanese financial stocks. one of the biggest banks in japan. seeing its price ratio preaching. this is not something we typically see. it shows you how corporate

governance has helped some of these japanese companies. let's take a look at what we are seeing. asian currencies. softer dollar today as for much of the week. flip the board if we can. you will see how some of these currencies including the yen have been recovering thanks to the slightly softer dollar. lizzy: thank you for the roundup. busy day ahead as well. in the u.k., the polls will open for the u.k. general election. they will stay open until 10:00 p.m. at which point we will have an exit poll and the results trickling in throughout the night. the weather forecast is looking incredibly grim for tomorrow. whoever said things could only get wetter was really onto something. we will have that speech in downing street tomorrow. in the meantime, 10:00 a.m. london time, the french 10 year bond auction.

the last bonsall but what -- before the final round of voting. the second since emmanuel macron called the snap election which kicked off a major selloff in french assets. 12:30 u.k. time, the ecb minutes from the governing council june meeting which should be tasty. explaining why they cut rates and raise the inflation forecast at the same time. that's on the docket for today. you can catch up on all the news ahead on the daybreak newsletter. coming up right here on the program, we bring you an interview with the ukrainian president volodymyr zelenskyy. he told bloomberg that donald trump should reveal his plan to quickly and russia's war in ukraine. we bring you that conversation next. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. the ukrainian president says that if donald trump has a plan to end the war, he wants to know about it now. the ukrainian leader spoke with bloomberg about the u.s. election race and challenges around agreeing to seize with russia. >> so let us imagine. the winner might donald trump in

november. he knows how to end the war. he's had plans. me as the president of a country at war, not theoretical person but a real-life person, i would like to be prepared. we are a big country. we really depend on the aide from the world. the position and stance of the u.s.. i would like to understand. what would it be to finish fast? we want the war to be over tomorrow. if he knows how to end the war, he should tell us today. if there are risks to ukraine's independence, there are risks to lose statehood.

we want to be prepared for this. we want to understand whether in november we will have the powerful support of the u.s. or if we will be all alone. lizzy: that was the ukrainian president volodymyr zelenskyy speaking exclusively to our colleague annmarie hordern in kyiv. for more analysis, we have ross madison with me in the studio. listening to those bold words from volodymyr zelenskyy who historically has had quite a rough relationship with donald trump, do you see any way that he could repair that relationship with trump? >> they've had a pretty fraud history. donald trump is accusing him of corruption over the years. he's been contemptuous of the handling of the war. clear that he doesn't want to continue to support the war from the u.s. side with weapons. donald trump is also in the end of business man. he is quite pragmatic. you can see from the

conversation yesterday that he recognizes that and that there's quite a high prospect that donald trump is going to be in the white house come january next year. if the war is still going, he will have to continue to deal with the u.s. president. he will have to find a level of conversation with donald trump on that. donald trump does work what's best for donald trump. if you start from that point, maybe there's a way to navigate a relationship that's beneficial also for ukraine. lizzy: when zelinski is desperate to hear trump's plan to end the war, does anyone have any idea what that would look like? >> donald trump said he learned a lot of things. he also would have ended the war in gaza quickly. the only plan seems to be to pull out u.s. military support and financial support. that would leave ukraine very vulnerable to a quick end to the

war. at that point, it gives the advantage to vladimir putin. european weapons and aid is not going to be enough at that point. he seems to be indicating that he would do that. he would lean on vladimir putin to do something. all of this would seem to be a solution that involves ukraine giving up territory. giving up a large amount of land in order to end the war. that would seem to be donald trump plan. lizzy: they mentioned a potential deal to send natural gas from azerbaijan ukraine to the rest of europe. how much would that help the ukrainian economy and the war effort? it feels like a chicken and egg situation. you have to have contracts to get the investment to get the contracts. are we anywhere near that? >> it is something we've been hearing about for months. the current contract expires at the end of the year. unlikely to be renewed. ukraine has to look for alternative sources of gas to supply through ukraine to europe

to get the money. they're looking around and saying, that's one prospect for it. we are nowhere near getting contracts done. it's only six months until the end of the year. there seems to be a little momentum towards having a conversation around it. would it fully replace the gas transiting into europe? unlikely. a partial replacement but is likely to be unfold. lizzy: does it stack up at all? >> we know that it's become very difficult for ukraine in several punts of the -- parts of the country. they seem to have gained some ground again, particularly in the east and south. these weapons are coming in from the west. they are still coming in very slowly. as time goes on, naturally momentum becomes a difficult thing for ukraine to continue. so we are 2.5 years into the war

. russia is still holding a large amount of land in ukraine. lizzy: thank you for that analysis. fantastic interview from annmarie hordern. about an hour with ukrainian president. coming up later on the program, the french far right -- lashes out at her rivals moving to blocker majority. we take a look at the potential outcomes and the market reaction ahead of the second round votes. east -- stick around for more. this is bloomberg. ♪

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>> a unique injures free. -- industry. it needs a level playing field for planes to be able to fly from one place to the next and

not face different conditions every place they land. so that's very complicated and africa. and then there are other real hindrances such as the price of fuel which is actually on average 20% more expensive and africa than in other places. so that's obviously a direct hit on the profitability of airlines in africa. and also i would say that taxes, which tend to be higher in africa than other places, although most countries resort to some kind of taxation on ticket prices. but africa seems to be more fond of that exercise than other places. >> what are the bright spots? we are seeing some airlines on the continent doing well in their own countries. what do you see as potentially helping the continent to get over those hurdles? >> >> it's very much a question

of how you position aviation in your national politics. if you position aviation as really a factor for economic development that it is, not only aviation i should say. all forms of transportation, all forms of connectivity are vectors for economic development. clearly economic development is sorely needed on the african continent. if you position aviation in that light and regarded as an ally in your drive for creating better economic outcomes for your population, than the policies that you might choose might not be the same subset of policies as if you think that aviation is only reserved for the rich. lizzy: that was the chief economist and subscribers can had to bloomberg.com to watch the full interview. let's get to the other stories making news this morning. endeavor mining has written a

rally in the price of gold to return to the u.k. ftse 100. the packaging company leaving the index following a merger with u.s. rival west rock. endeavor makes a quick return to the blue-chip index having been replaced in the benchmark by easyjet at the previous rebalancing in march. now to another top story. shares jumped in sydney after saudi aramco and abu dhabi's adnoc have been studying bids for the australian gas producer. the middle eastern energy giant seek to ramp up their foreign gas investments. lng projects in australia, papua new guinea. sources say that santos could also attract interest from other potential buyers. deliberations are ongoing. jp morgan's chief global market strategist marco clown of edge is leaving after 19 years at the bank. an internal memo obtained by bloomberg says he's leaving to

explore other opportunities. he had a disastrous two-year stretch of calls on the u.s. stock market, staying bullish as the s&p 500 tumbled in 2022 and then turning bearish as the market bottomed and rebounded. so the bear is departing. gandalf leads -- leaves the party. we were talking about how the politics has been spilling over into wall street. similar story here in europe. the french elections could potentially weigh on the french bond auction at 10:00 a.m.. the oats auction and you have officials across praying for solid demand. you have seen investors hopefully taking confidence from the the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you?

this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title.

kwuex good morning, this is bloomberg daybreak: europe. i'm in new london in these of the stories that set your agenda. local markets on alert as pressure intensifies on president biden to chop -- drop his reelection bid. some democrats see kamala harris as an alternative. we will bring you the latest. asian stocks rally led by tech s off u.s. economic data back the case for a fed rate cut. in an exclusive interview, u.k.'s president challenges donald trump to come forward with his plan to end the war with russia, saying any proposal must preserve his country sovereignty. good morning, welcome to thursday, it's independence day stateside. happy independence day for celebrating. it does mean that volumes are thin globally because u.s. markets are mostly closed. as we check in on the futures picture, mostly flat on both sides of the atlantic.

you have the s&p before everyone went on holiday, closing another record high. this is off the back of that weaker than expected economic data purchasing the case for a fed rate cuts and setting us up for tomorrow's jobs report. the narrative continuing for corporate america. if we flip the board to the cross as that picture you got the politics continuing as a theme here in europe. euro-dollar unchanged at 107. the pound steady at one dollar 27 has per its head to the polls in less than half an hour for the u.k. general election and brent trading at $86.85 a barrel. let's get to our top story. president joe biden facing renewed pressure to end his reelection bid after lloyd doggett became the first democratic lawmaker to publicly call for joe biden to step aside. you had several others coming out in support of the president. >> i'm here to tell you today,

president joe biden is in it to win it. all of us that we pledged our support to him because the stakes could not be higher. >> none of us are denying thursday night was a bad performance, it was a bad hit, but it doesn't impact what i believe. >> the president was very clear that he is in this to win this in the president is our nominee, the president is our party leader in the president has told us and he was very clear that he is in this to win this. >> let's bring in our bloomberg correspondent, i'm wondering if you do see democratic lawmaker signing this letter provided to a job, does it force his hand? kriti: dozens of lawmakers in a congress of 430 five lawmakers. that's the context we need for how much pressure he's facing, plus significant names are coming to mind, especially when it's calling for president biden to take a step down. the thing that unites the entire

democratic party, they are trying to avoid a trump 2.0. they want to win, they are trying to figure out how to do this and how to relay that message to the american people as well. what we've seen in the last 48 hours this despite these calls for kamala harris to step up among many, many others, kamala harris seems to be the front runner is that replacement. she is still significantly behind in the polls when it comes a president trump. i will give you numbers, you look at the latest polling numbers between president trump and president biden, a new york times poll showed trump higher by seven percentage points. 49% to bidens 43%. 48 percent to 42%. the chart on your screen shows a very story, the red line as president trump, kamala harris is green. even though she has better shots on predicted oughts, take it with a giant grain of salt, then president biden, she is miles away from president trump in the polling. this is the calculus the democratic party is doing now.

>> for all those saying it's kamala harris moment, what a great shark to show. kriti: for the markets, it's hazy about how it will work. the markets will position for through the steepening of the long. mark cranfield putting it out. net-net, we are unclear about who will be not only the nominee but ultimately the president. at the different economic agenda than what we saw in 2020 or 2016 when it felt like tariffs, oil or inflation was an easy trick to make. now it's less clear. what is at stake is voter participation. let's look at the piece i want to emphasize. we talked about the drama, the politics around it all. this is about appealing to the entire american population. this is something president biden, even before the debate, in terms of his foreign policy record with his views on israel, hamas and how it was handled and gaza. many democratic voters said we don't want to vote for either candidate and are actively

voicing their concern that they might not choose to vote at all. >> kriti gupta will be back with the opening trade in just in half an hour's time. let's turn to another election. france, where the far right leader marine le pen has lashed out emmanuel macron's centrist group. the two rivals are joining forces to try to block her national rally party. i'm getting an absolute majority in the second and final round of the french legislative election. we can speak to the cio at abn amro for the impact on the market outlook. lovely to have you with me on the program. let's start by talking about what outcome of the french election you are positioning for, with your base case? quex thank you, good morning. the base case is very comfortable, but not comfortable from a market point of view, from a political point of view, not so nice.

but it seems that thanks to the coalition of the agreement, there is -- to have a majority of either the far right or the far left. this is good news because this the main uncertainty that is impacting markets for a few weeks now, especially the far left which is very -- on fiscal stimulus. we already have a fiscal deficit of around 5%. i would say that what is coming is probably from a political point of view. the government is very technocratic. an agreement for managing project by project. but not a big deal. it could be good news for markets. lizzy: we have all the

horsetrading between the left-wing alliance and mike rounds party. we have the last bond sale -- emmanuel macron's party. we have the last bomb sale. do you think investors will take confidence from the horsetrading? >> the spread and yield for france's less of the pressure. we have had some easing for a few days now with the clarification of the kind of agreement to avoid the national rally position to have a majority. so this is good news for markets. at the same time, the risk is asymmetric. the real gain behind this snap election remains a election so that each position, each

decision is taken regarding what would be the 27 presidential election. so the idea is to not disturb financial markets for the next election. so it is asymmetric because we don't see any kind of easing of the french bread that is observing slight easing, but we don't believe throughout the spread coming back a few weeks ago before the snap election as a result of the european election and we just see the risk of it being a kind of drift and moderators played -- prayed at best until 2027.

lizzy: how much stretch where the a downgrade by the rating industry create for french debt? >> there is one big uncertainty with the behavior markets because, in france and in europe, it's not so easy, but it's not so hard to understand what are the games played by politics. but we know that 50% of the french debt is held by foreign investors, especially in the u.s., in the u.k., etc., where it's not so easy to analyze what's going on. the risk is to have a big institutional investor potentially on re-rating and to

start to sell based on some noise, based on some that signal and to have the french debt before the 2027 election. lizzy: i was going to ask you, do you expect their worries about the fiscal trajectory to actually influence the ecb policy? we've had officials denying that it would, but what's your view? quakes the main thing i used to have a very technocratic government is for something where there is no decision taken, so it is good to have stabilization of reforms. it is a way to have some

visibility. it is not so bad to this regard, but the main point is, at a time where we expect to have no big noise around this. we will do what we see in the u.s. with the level of negotiations around this. we see that markets can be patient, but this is a risk, clearly. lizzy: relaxed. we thank you, cio at abn amro. lovely to have you on the program. coming up we will go from europe to china. chinese ev makers holding their ground as the ev prepares to unveil sweeping tariffs. we will bring you all the details, next. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. president zelenskyy says ukraine is in talks to send natural gas from azerbaijan to the european union as it seeks to maintain its role as a transit country and help western neighbors to ensure energy security. in an exclusive interview with bloomberg in kyiv, zelensky said they ukraine, which carries russian gas to the eu, will not extend a transit agreement set to expire at the end of 2024.

>> yes, we don't want to extend the gas contract with the russian federation, we don't want them making money here. this is my main signal to the government of ukraine, and to some european countries which are dependent on this gas. because now alternative steps are considered with how we can use the pipelines with other supplies with a different country. it rallies these negotiations. if it is a normal contract, not russian gas would subside to the european countries, we as future members of the eu, we would have to support our friends. quakes with gas from azerbaijan be acceptable to you? >> it is one of the proposals,

yes, the azerbaijani company, but it's the company -- the government who's dealing with this now. lizzy: ukrainian president volodymyr zelenskyy speaking with annmarie hordern in kyiv. bloomberg has learned that the eu is working on a proposal for import duties on cheap goods brought on online platforms outside the block, sources say the move would primarily target chinese retailers such as shein, teemu and aliexpress. the eu has a 161 dollar duty-free threshold for online purchases that's meant for small gifts or personal packages. and on other tariff news, chinese eb's have held onto their share of the slumping european market. new tariffs designed to protect local carmakers from lower-cost imports. we can get more now from our transport reporter in hong kong, danny lee. just tell us what exactly is expected to happen today with these ev tariffs.

danny: the european union's provisional tariffs on chinese imports of electric vehicles will take effect for today. just at what price point that these will be increased to still remains to be seen. we have seen the setting out of provisional tariffs already from last month, but we have already seen a little bit of a tweak to these tariffs according to people familiar with the matter. today, from the commission, we expect to see formal publication of the tariffs and whether we see any changes or may be no tariffs at all, that would be a surprise. but, what we will see later on today will be really fascinating to watch. in the meantime, we've still got some month to up until november before these tariffs will fully kick in as much as money changing hands and duty being paid to the authorities in

europe. until then, as well, you've got brussels and beijing in talks to try to come back from the precipice of really tense tariff tensions. so china clearly wants to give up more of its position on existing tariff charges to european automakers, whether brussels wants to climb down from any of its additional tariffs remains to be seen. if they don't, china will retaliate, it signaled it will retaliate on you imports to foreign cars of large engines which directs the likes of germany which is why germany has been intensively trying to help get a better position between china and brussels. so the reader cross potentially for german automakers, but what does it mean for the chinese automakers? danny: for chinese automakers, they are trying to find their feet in europe, what we have found is that, already they had

around almost 10% market share of ev sales in europe, that has been growing steadily, right now the situation is that what happens after the tariffs really fully kick in if they do the additional tariffs. right now in the european market, sales are still pretty anemic and from what we saw over the previous couple of months, we are see -- seeing sales pulled back, particularly on ev's as there seems to be a little bit of cold feet from consumers, of course ev's cost a lot more in europe than it does in china, a little bit of tough time for our china ev plant -- tv brands who are trying to go global hear from china. lizzy: this surprise today could be no tariff, lighter tariff output, shall we say. is there a chance that you could

see a warming of relations between the eu and china here? danny: i think everything will depend on what the commission publishes today and whether we see any changes at all. in the meantime, just the intensity of the talks between brussels and beijing to try to find some common ground. it's clearly important to beijing and clearly important to it's really fried industry. clearly brussels doesn't want to lose face. bloomberg's age -- lizzy: bloomberg's asia transport reporter. we've got plenty more coming up on the program, do stay with us. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. it is independence day stateside, happy holidays if you're celebrating. before the s&p clocked off, it did hit another fresh record yesterday, the bulls evidently in full control of this equity market. take a look at the performance just this year. let's dig into why this happened yesterday. you had a raft of economic data feeding the narrative that fed cuts are on the horizon. if we dig into it, you saw u.s.

companies adding workers at a more moderate pace in june and wage growth closing, if we flip the board over, you can see the labor demand, they easing in the labor demand, you also saw, if we flip over to the ism services pmi data, despite the start of the summer travel season actually brought the clients. so it suggests that the engine of u.s. economic growth is actually stuttering. the question is, are we going to get a continuation of this narrative in the jobs data tomorrow, and therefore, will we see a reaction in terms of debts -- debts on fed cuts. our economist say fed officials might think the labor markets near an inflection point before a more rapid deterioration, but our economists reckon we are already past that inflection point. that's the u.s. macro story, if we take it over to europe, we have got the french election

second round coming up on sunday. we have been discussing all of the horsetrading going on between emmanuel macron's party and the left-wing alliance. marine le pen saying that his contempt for the voter, but how will investors react with the horsetrading? we will take a look at that when we get the french bond sale, the last one before the election at 10:00 a it's the auction, you had officials praying for solid demand in this auction, but you had french yield premiums over german debt soaring on concerns of a widening deficit if marine le pen's party gets into power. so, will they take it from the horsetrading? we have been speaking to christoph of abm amro about that, he was pretty relaxed, he said it will be a technocratic government going forward in france. that coming up on the docket at 10:00 in london time, but the big event here in the u.k. is the general election, and we

will bring you full coverage of it tonight. a special broadcast at 10:00 p.m. u.k. time, just after the polls have closed, they are going to open in just under four minutes time. we will have the results trickling in throughout the night. you can also catch our interview with peter. , the former ecb -- peter, the former ecb president coming up on the opening trade. plenty more on the docket for the day. how does the politics veer to the market story? i'm sure they will cover that for you next. kriti gupta and guy johnson coming up on the opening trade. this is bloomberg. ♪

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guy: good morning from london. anna