anna: enough is enough. the u.k. prime minister signals she is thinking new powers to fight terrorism in the wake of london's attack that left seven dead and 50 injured. cutting ties with qatar. a saudi led alliance severs diplomatic relations and closes off access amid escalating tensions over iraq. and jpmorgan's jamie dimon says u.s. infrastructure is "embarrassing," this as president is set to kick off his initiatives today. ♪

manus: welcome to "bloomberg daybreak: europe," our flexion morning show in the city of london. i'm manus cranny. anna: and i'm anna edwards in westminster. good morning. this was always going to be a week where we focus on the u.k. story, the u.k. political story. today we do that with an attitudes of sadness, given the terror attacks over the weekend, the third in just three months in this country, and we are told that five other attacks were foiled within that period. this is a time when we were going to talk about the election. politics is very much at the fore. political reaction to the events at the fore. we need to check out what's happening in the markets, reacting to the u.k. political story, and reacting to the news out of the gulf overnight. manus: absolutely, they are front and center. this sterling market is a classic barometer we use, fairly

immune to the terror attack over the weekend. sterling will run at the bottom of your screen, 1.2869. i thought what we would do was turn to the politics. at one juncture we had a 20 percentage point differential between labour and the conservatives. this is what the market will focus on. the last time we have a terror attack was on the manchester terror attack over 10 days ago, and you can see that the polls have really no major movement. the lines are already very aggressive, labour saying you can't do police cut, and enough is enough is to from theresa may. tear is going to be front and sent -- terror is going to be front and center. and what are the weekends going to be, not only the u.k.

election, but comey's test imony. the global msci stock market off a two-year high after some would say a slightly softer jobs data. the market is overbought. that is what we run with in terms of the rfi. the world bank says it will grow at 2.7%. and this is the story, saudi along with the uae, egypt, and bahrain cutting ties with qatar. what does it mean? it shows you that the politics of the middle east are trumping the u.s. let's have a look at some of those havens we have been keeping an eye on. gold is up, 112.80 lower bond yields in the u.s., a weaker dollar. this is dollar-yen, which just went softer, the dollar stronger

despite the terror over the weekend and despite the political hubris in the middle east. that's the state of play on the market. let's get across the first word news with juliette saly. juliette: manus, thank you. leaderposition labour jeremy corbyn and prime minister theresa may have traded belows in -- traded blows. campaigning ahead of thursday's election was temporarily halted after three men killed seven people and injured 50. within hours, the leading parties tour up any notion of detente and swapped blows. madeile we have significant progress in recent years, there is, to be frank, far too much tolerance of extremism in our country, so we need to become far more robust in identifying it and sniffing it out across the public sector

and across society. difficultrequire some and often embarrassing conversations. whohe mass murderers brought terror to our streets in london and manchester want our election halted. they want our democracy halted. they want their violence to overwhelm our right to vote in a fair and peaceful election, to go about our lives freely. that is why there can be no doubt that next thursday's vote must go ahead. four arab countries let by saudi arabia has cut diplomatic ties with qatar and moved to close off assets to the country. saudi arabia, parade, the united arab emirates, and egypt say they will suspend air and sea trips to and from guitar. crisis thatalates a started over its relationship with iran and the muslim brotherhood.

russia's president has said he is unaware of any proposal from president donald trump's son-in-law jared kushner to set up a secret line of communication between the incoming administration and his government. speaking to nbc news sunday night, vladimir putin also said it is "nonsense" to say his country has collected compromising material about trump. the interview was recorded on friday and broadcast last night. south korea has drawn up a $10 billion supplementary budget to help make the president's drive to boost jobs and wages. the government will spend almost $4 billion of the package on 86,000 new jobs, the vast majority in the public sector. it is aimed at helping the unemployed, particularly young people, but also the elderly and women. global news, 24 hours a day, powered by over 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top .

essentially what you are seeing in the bond market and precious metals is the theme of the day, a risk off sentiment. msci asia-pacific retreating from the two-year highs, but is showing it is an overbought territory. weakness coming through from a lot of the banks and insurers in china. hong kongf stocks, has certainly been in focus today, shanghai energy rose significantly in hong kong on reports of merger talks, which would create a $267 billion coal power giant. china had another record high in hong kong. noble group once again under pressure in singapore, falling 14% in new york trade on friday, a 17 year low in singapore, although there are reports it has asked lenders to extend a key credit facility. let's have a look at bond space, reflected on the bloomberg.

this white line is australia's 10 year yield. the blue line is that u.s. 10 year yield. the spread narrowing significantly, yields both at seven-month lows. this is also on the back of not only what we are seeing geopolitically, but the weekend expected jobs report. anna: juliette, thank you. juliette saly with the latest first word news, and the market reaction in the asian session. manus, let's get back to the top story. the aftermath of the terror attacks on saturday. we will have a full analysis of the security story from our colleague nejra cehic shortly. this was supposed to stop campaigning for around today. it didn't really take that long, and we had prime minister theresa may yesterday talking about enough is enough, and what started as a condolence speech turned into something more political, talking about

confronting the ideology of islamic extremism, and talking about ending toleration of extremism. as you heard in the first word headlines. talking also about difficult questions and embarrassing conversations -- it's not clear what she meant by some of those statement, some of that will come out. jeremy corbyn back on the campaign trail as well, saying difficult conversations need to be had and need to start with saudi arabia, and what he sees as saudi support for terrorism and islamist ideology. tomorrow we see theresa may, another one-on-one tv interview. social security will remain a feature of this campaign heading up to th thursday. manus: both leaders friday night, security and the use of armaments is where corbyn had a few issues in the debate. theresa may had her own around

the savage cuts she was accused of. out of these tragic events, is there any indication -- the polls, there was no significant boost -- but is there any early indication in terms of which candidate might get a boost out of this in the last days of pulling? t's difficult to draw a line between how we saw the manchester pulling, post manchester pulling and today, because we have been covering the u-turn on social care policy and the tightening in the polls after manchester very much a result of that social policy. we will have to wait and see how this plays out. in terms of which party this boosts, it is easy to make the case in either direction. on the one hand you consider the conservative party typically gets the boost, the party of law and order historically. theresa may has been home secretary for six years, she has a good background, but that also goes against her.

she was home secretary for six years and still he find ourselves in the situation of these things. they are trying to make the most of that, between jeremy corbyn and the things he has said about the ira, about hamas, hezbollah, all of that very much topical for the tories. on the other hand, the labor parties -- the labour party has been making a link between austerity and what we saw over the weekend, saying you can't do protection of the people. manus: yes indeed,. and when theresa may decried those 20,000 job cuts. let's take the story to london bridge. nejra cehic is standing by at the site of the terror attack over the weekend. nejra, what's the latest on the police investigation? manus,the investigation, still ongoing. just in the past couple hours, we had an update from the

metropolitan police, they have entered two further addresses to the east of london. so far what we know was that 12 people have been arrested, one released without charge. those that are detained are being detained under the terrorism act. they have also been searching that is thees, and update we have had in the past couple hours. the police are saying they are increasingly confident that the three men they shot dead, the ones that rammed into crowds on london bridge, where i am standing right now, then went on the stabbing spree, killing seven, injuring 48 people. police are increasingly confident that those three men were the only perpetrators of the attack. but as i say, the investigation is still ongoing. we now know that the islamic state has claimed responsibility for the attack. nejra, this was the

third attack on british soil in just three months. we understand that further attacks have been thwarted. it seems like the government is responding different. nejra: yeah, it certainly is, anna. first of all, just to talk about the security -- it has been steps up around london bridge. the area is cordoned off, and police are saying it will likely be cordoned off for monday. but when theresa may spoke on sunday around 10:30 in the morning, there was a feeling that she had ramped up the rhetoric. you were talking earlier how she switched quickly from condolences to what was going to happen. she talked about the fact that enough was enough, and she outlined the response, talking about covering four areas. confronting the ideology of islamic extremism. secondly, she talked about coordinating with governments to force internet companies to stop providing what she calls "safe spaces." she talked about dealing with

safe spaces in the real world, both abroad and in the u.k., and examining the criminal justice system. ityou have already outlined, seems that this is very much going to dominate the debate in the last three days of campaigning ahead of the u.k. election. manus: thank you very much. nejra cehic. anna is with me throughout the show, live at westminster. our guest host is the chief managing director. welcome to the show. it is one of those tough days, where we try to do our best of bloomberg to take what is a horrible terror incident, put the political context around it. will terror trump the strong and stable mantra, the brexit debate, in these final three days of pulling into the election? this is the chart i showed you at the start of the show, after the tragedy in manchester, it certainly did nothing to boost theresa may and the conservative's bid in terms of the polls. >> well, you're absolutely

right. the mood is somber today, but london is a great city, it's an open city, it's a resilient city. coming in this morning, people sharing stories about where they were, and there is a sense we are all shouldering this burden together. this time around, there may be different reactions to previous terror events, simply because the normal chain reaction in a risk off mood followed by time,ization -- this complicated by the fact that w'' re looking at a sequence of events that creates the sense of a trend of terror that theresa may was talking about yesterday. but there is also the proximity of the election, and the fact that, as you and i were just saying, that the rhetoric has shifted so quickly toward the political again. it shows the anxiety that exists due to the lead parties

narrowing. how that is viewed by investors very much depends on the extent to which terrorism affects the outcome, but also economic and figurative policy during the negotiations to follow. anna: lena, good morning. what is your working assumption? what is the market's working assumption, about what happens on thursday, given all of the events leading up to this week? >> well, one thing we have learned in the past week from the polls and from the very fluid situation, things can change extremely quickly. the result of those cannot be taken as a foregone conclusion. for now, analysis is the best route going forward. preparing for change and disruption is better than forecasting. what we have to remember is that

the u.k. runs a very large current account deficit versus the rest of the world, and that means that the impact of sterling on u.k. assets will depend on sentiment, and the investor take with respect to what the aftermath will be. but in terms of the base scenario, markets are seeing so far that polls are correct, that the conservative party will extend its majority in parliament. what that means, however, for u.k. economic policy and fiscal depends on how much room to maneuver the prime minister will have in the new parliament,. and the future manus: many polls, many potential outcomes. the base case is something we have to plan for. lena stays with us. let's get you set up. and i will be at westminster a will be at

westminster. we get a right decision out of australia. the next day, the reserve bank of india. thursday, the u.k. election. and a policy decision. the former fbi director james comey has testimony. friday, the eu-nato security conference in prague. can-do attitude on u.s. infrastructure. this is bloomberg. ♪

anna: welcome back. this i "bloomberg daybreak: europe." manus cranny is manning the fort in the studio. i'm here in westminster as we count down to the election. an added emphasis on the u.k.

policies this week, and given the events of the weekend, it takes on a different town. -- otone. but elsewhere, we need to talk about what's happening. manus: absolutely. dirty little secret about the economy -- today, we had a conversation with the jpmorgan ceo. the says america is falling behind its competitors when it comes to construction. speaking exclusively to bloomberg's stephen engle, he says he wants to see more development in the u.s. >> we haven't built a major airport in 20 years. i am told it takes 10 years to get the average city to build one bridge. we haven't built a bridge in new york city -- more than 50 years. i just came from hong kong, it's embarrassing. america should get back to holding, -- to building, permitting, requirements. that can do attitude about

infrastructure. it's our country and we are getting behind and we shouldn't. anna: jamie dimon talking about u.s. infrastructure. our guest is still with us in the studio. lena, it's embarrassing, apparently, the state of u.s. infrastructure. this sounds like a big win, potentially, for the trump administration, if we could improve infrastructure. >> well, this is the build a president. the election of president trump led with expectations that we would see a major investment boom in the public sector. it is clear that this is not in the cards, when we look at the u.s. data so far. the question now is can the white house managed to pass it through congress, at a time when there is a debate about health care, fiscal reform, tax reform, trade reform, and a very tense

international, geopolitical situation over the president's links with russia. all of that raises questions, but for now, a story about an in ambitious program, provided it can pass through the fiscal hawks in congress, would possibly offer some support. manus: those fiscal hawks in congress, they have been tricky in terms of not delivering anything in regards to policy, and the effect on markets has been clear. the dollar, the great trump reflation trade, has dissipated within an inch of its life. the bloomberg dollar index is at the lowest since november for. this is the problem. there is lack of belief in delivery in terms of trumponomics. >> i think president trump has been very lucky to arrive at a time when the u.s. economy is running quite hot and monetary policy is quite accommodative. what wasook at

considered to be high risk derivatives in the aftermath of the global financial crisis, the reach for yield is visible across the board, and that means the economy is running far too liftand that managed to the same market sentiment, even through the disappointment of the white house's election and economic platform and delivery so far. anna: and lena, you mentioned the data that has been softer. a disappointing nonfarm payrolls on friday, coming hot on the heels of an inflation number that th didn't seem to be meeting fed targets. where do you see the fed standing, then? the market seems convinced about june, but what about the rest of the year? >> that's right. the fact that the market is less convinced about the rest of the year has led to the downgrade of

cyclical altitude in gdp forecast, and the prospects. they created a flatness in the yield curve, which is, in my opinion, the new vix index of the market. it shows a level of pessimism about the effectiveness of monetary stimulus. but i think the market has been a bit too harsh with non-farm payroll figures. manus: quickly, in 10 seconds, the treasuries -- the ucs breaking towards two or three? >> deals are far too low. when we have an economy at 2% labor markets have showed investment growth and yields are too low. manus: lena on the u.s. numbers, our chief economist from g plus

economics. plenty more banking names throughout the morning. goldman sachs joins us, and we have the chief economist from there. ♪

>> this is daybreak and we are and this givese a different tone to the program and we have to talk about u.k. onitics and we will do so thursday. and we should get some details. guy johnson joins us. desensitizeds are to this and we will see the ftse

and this isg move well within the margin of error. markets largely you can see the youe difference there and this and it is significant, from the markets point of view and it is having an effect with brent crude up and catching up seeing this with the

you see the heights this now the is the eurovestors and assets, you can see that and ande has been that basis lead to message recovery story it ist you see here and

andcrisis from later today it is actually outperforming apple. we see the markets over the weekend and this dominates the new addition of daybreak. you know how to get this. may and sevensa people killed. there is a political truth that and it iss than a day unfolding on london

bridge. another story that daybreak focuses in on is in the gulf region. there were severed diplomatic ties with iran and the support of islamic state. land, air, and sea crossings were closed and nationals were giving 14 days to leave qatar. there is a lot to learn still on .ow it will affect andhe focus on the u.s.

vladimir putin says that he is unaware of any proposal from jared kushner to set up a secret communication with the russian government and it is nonsense to say that russia has collected compromising material about trump. vladimir putin says that no such proposal ever reached him. this will stoke fires in the russia story and the ties. andhe election takes place there were no broadcasts we will talk about how this links into the political story here in the united kingdom. i am here in westminster. may saying that

extremism has been tolerated for strengthenedit has afteric and it came just the general election. thank you so much for joining us today. what is your assessment of what you heard from theresa may. does "extremism has been tolerated for too long" mean to you? >> we seem to have a bit of a difficulty there. as soon as we get that up and debate, inat is the terms of the accusations. theresa may is saying that aough is enough and this is

new anti-terror power. what does "enough is enough" mean? is this a lurch to the right? these are questions we will ask when we return. let's go into the major story from earlier. egypt and the united arab arab emirates have suspended ties. they said they will suspend air and sea travel. joining us is tracy alloway. shift from dramatic earlier. talk to me about the situation that is beginning to unfold. how significant is the cutting

ties?s russian mark -- unprecedented diplomatic risk. we have seen a bit of a diplomatic spat with countries withdrawing ambassadors. we have not seen anything like this before. the land and air links are cut off and the land links are a big the citizens here are the countryto leave within two weeks and that will give you a sense of how serious this has become and i have to say that there are lots of

financial workers who are surpriseg a sense of about escalation. iran into a salesperson who shows got off the airplane and he covered and said that he did not know what he was supposed to do with himself now. >> there are many bankers who travel to and from and do business with a lot of money managed. remind us how this all started and the word that was pervasive in our stories was iran. >> we will be here all day. let's say that the proximate over somehis is

and theextremist groups backedns with iran who some of those groups and that came with the arab spring and we saw the muslim brotherhood states weregulf concerned about stability in their nations. be most recent spark has to criticisms over the anti-iranian rhetoric. later, those statements were claimed to be part of a hack and it looks like some of the gulf states were not buying that. backall comes off of the of donald trump's visit to the middle east and we saw donald

trump circling the wagons and he made a lot of comments and that is the biggest catalyst for this. we will bring you that. thank you very much. >> thank you. to ouret back conversation around u.k. security and i am pleased to say that we have gotten neville jones on the phone for us. reaction.ur there is an area i am interested in. she said that extremism has been tolerated for too long will stop how did you interpret that? did she want more powers?

>> when they do a review, they decide that they need more powers. there is the real world and online and, in the real world, a loss ofees is measures and the program that is designed to prevent radicalization of those who got into trouble and it does not have enough momentum or support and that has to be a much bigger this programe the wake ofand, in so many people coming back, the threat is growing and there is

concern about the lack of commitment in the area, so i think that there will be a concern. emphasis on this online company and they ranged from the small and the big once actively taking down materials on their i think weystems and will see a more active it will take an initiative with publishers.

it will have transatlantic implications. >> yes. i want to talk to you about that. there is a tension that we have and therethe weekend are comments that trump made london andayor of his response. many of these companies are american and she doesn't need this. >> she is well aware of that and as remarks are regarded wrong and he did not say what he is alleged to say.

there is a well judged man who gets on with the prime minister and is cooperative. he has the reputation damaged giving ank it is conducive that is not to cooperation or a feeling in the u.k. and the u.s. government understands what is going on here. >> good morning to you. about saudi talking arabia and the labor leader. they must start with tackling

saudi arabia and other gulf states. does this argument have merit? it has resonance because the promotion of extreme forms of islam, but not violence. been an issue and it has there remains a big legacy of extremism. would mr. corbyn command support and the u.k.? no. , it isws, with terrorism

credible. , there are some say there is an issue and it is not going to deflect the viewer opinion away from what the prime minister intense to do. >> this is the third attack in three months and we understand that things look different on the street. you can see the measures in place. there is a different variety of police. what needs to change now? >> this is clear for the foreseeable future and there will have to be a bigger

presence on the street and more police visible. wherek we will see a time security is more visible. one of the things that is characteristic is that there is an attempt to make this as visible as you can. true through the security alert times and i think it will change. is the police back on the there will be a

there areroutine and other things that people normally do. they will see the longer-term protected andbeen financed to the levels that the police demanded. i don't know the level of reductionion, but the in the numbers of the police is enough and it creates a good relationship with communities.

>> thank you very much for joining us this morning. she was accusing him of crying wolf and security will be front and center. we will be building our election coverage throughout the week. right here on bloomberg forvision, you can tune in our special and you will get instant analysis, in terms of how the markets react. show and you the can influence the conversation and ask the guests questions.

, it isup on daybreak steps to boost liquidity.

>> welcome back. we are live here in westminster with the buildup to the election . heart of thet the conference. criticism ofthis the conservatives for protecting the public on the cheap. that european economy. this time, they are reviewing

the liquidity and the deterioration of credit. is discussingk the options. the managing director is still with us. talk to us about the nonperforming loans and it is a rerun of italy. it is disconcerting to see it again? >> it is an important reality to thewith respect stability and improving economic climate. there is the fragility and the he isg system and constrained in his growth and

the sector is efficient enough to sustain. spain is on the way down and it is no longer contagious. you look at the upgrade and does that show the renaissance in growth? outperformed and caused a chain reaction with growth projections and it is a positive cycle that is down to those they tried to look thehe gdp growth with

leverage and depression cycle that could result in that financial crisis. >> thank you very much. that is it. we are back in westminster shortly.

>> enough is enough. theresa may is looking for new powers to fight terrorism. cutting ties with qatar. they severed diplomatic relations and cut off access, amidst the escalating tensions. jamie dimon says that the infrastructure is embarrassing and says that trump will kick off his initiatives today.

welcome. i am manus cranny. >> i am anna edwards. a very different tone after the events of saturday night. so, security is remote part of the political conversation. of campaigningce that did not last very long and we went back to talking about the politics. have london bridge and the politics story covered. we are back to london bridge and

we're talking at the headline of qatar. to a certain extent, the shape ofand rising in terms of we areity markets and talking about 2.9% for next year the thing driving the the business at 1.4% on the initial valuation. the sterling is falling after

it isterror attacks and just off of the two-year high and the middle east issues in diplomatic cuts joining accused of supporting terrorist groups in the region. and there is the initial reaction from the middle gold ismarkets and flagging. you have the lower bond yields

and it is interesting that the this is are higher and the state of play on the markets. we have julia with the first word. mayeremy corbyn and theresa -- the campaigning was temporarily they tore up any to after theswapped arms terror attack. >> we have made significant progress and there is too much tolerance of extremism in that country. we need to be more robust in identifying it and stamping it out.

it requires embarrassing conversations. they want the democracy halted and want to withhold our .ight to vote this is why there can be no doubt that the next vote must go ahead. >> the benefit concert has been . held in the wake of the debt the manchester attack. crowds. pop star told theheld that she wanted to thank them. cutting diplomatic ties with qatar and closing off axis to

the gulf country. the mood escalates with the muslim brotherhood. russia's president says that he is not aware of any proposal to have jared kushner set up a secret line of communication. kelly was told that it is nonsense to think that his country has compromising material about trump. on can find more stories bloomberg.

closing pretty flat there. we are having a look at the energy surge in hong kong and it could tie to create a coal they areompany and thereg at singapore and is a key credit facility. if you have a look at the yield, this is the 10 year yield and

the note is that a seven-month low. >> thank you very much. mr. -- ince are joined and we with the latest on the security investigation. >> we know that told people have been arrested in connection with this attack. there is a property being the investigation is ongoing here in the area behind me. that said, the london bridge rail station is open at exit

only. we have learned that islamic claimeds responsibility. the three men who perpetrated who drove, the ones the van into a crowd and went on a stabbing spree, the police were confident that these are the only perpetrators. we are outside of was minster this turns political.

there was a call for a suspension of the campaign did all, other than the united kingdom independence party suspended their campaigns. they said that enough is enough ending toleration of extremism and the embarrassing conversations. this might mean with the existing initiatives, extending and what are the policy implications? he had the fueling of ideologies.

they are picking up on and this is the and it looks like it is accelerating. >> it is interesting to look at this polling. it is not clear that had anything to do with manchester. this narrow down and it depends on what you look at and which pulls matter.

we will not know until we get the results on friday, but if you look at the specifics, they said only 14%. 40% see the conservatives dealing with the fence better than labor and 20% says the corbyn would deal with it better. if you look at the defense jeremy corbyn has been impacto point out the that had on the police. >> quite correct in all of that. stephen, welcome to the show. who do you trust, in terms of

defense and terrorism? is this going to be a deciding factor? >> mrs. a country that was facing brexit. remember that? it has always been that the issues with surface and i think the the difference is on that chart behind you. >> this is what anna was talking. manchester was extreme and did not benefit. it was because of the andfestoes being launched

it shut down debate. here we are this week and there were three terrorist attacks within three months and the prime minister had a vital comment about yesterday. this is what people will said and it would have been poorly received. there has been a moment and the that phrase is enough is enough and i think it will resonate. this is one of the stronger issues.

this is a complicated subject. >> not being alarmed by the side street.olice on the what difference does it make to you and how does somebody like theresa may achieve on thursday? she will get at least 400 seats and it will be a landslide that we're looking at.

what difference does it make to the government? andill be her government not a hangover from david cameron's government. success during the campaign and theresa may going further to the left, it is the ed miliband government and the entirety of british politics is moving further to the left. there is a reverse with the wenomy that will happen and and there isrexit betrong majority that will

on one factor. i think the pressure is going to be for the government to not give any concession and we will discuss that. >> yes. the vote was about to be brexit and theresa may was going to get a mandate, but a lot has happened since. a there a low turnout and referenda over the last two years, it is a lot. before this week, the

,ivision in the polling experts it is is that the more crude vision. your people do not vote and there is a low turnout. facets is one of the that were often held and it is not quite as powerful as cheap will think and there was not a lot of enthusiasm about this, except from the brexiteers. voters and ilder

think they will show up. >> stay with us. stephen will stay with us. reaction and these are among the cohort severing ties. and thereithout races is an airspace land crossing and toy say they regret the move cut the ties and it will not affect the normal lives of citizens in terms of how many citizens are living in the

united arab emirates. this is a growing story, in terms of the risk across the region. >> there is a merger discussion and the talks of the preliminary merger may not go ahead. there was a response to request for comments. the liquidity bolstered by deposit withdrawals and a deterioration, according to .eople familiar with the matter there are plans to meet tomorrow hopingy said they were

for oversight on the decision. key credit facility until the end of the year with a developer seeking breathing room. the law firm was hired to advise facility -- credit that is your bloomberg business flash. >> the conversations we have had today include jamie dimon. engle and hetephen says that he wants to see more developments. >> i am told that it takes 10 years to build the bridge. we have built the first one in

50 years and it is embarrassing. america should get back to building, constructing, permitting. and we are country getting behind and should not. >> he was asked about his views on the decision to leave the paris climate accord. is aat will change climate great article in the paper. some are saying they will pay a ax. tack the reason they are -- aborating is because

>> we have had elon musk and bob iger say they disagree with the climate change position. >> i am an american patriot and this and ito say don't want to overreact to it. >> how much did you love the? and peopleletters make it clear and that is his prerogative. that was jamie speaking to

our colleagues over in asia. stephen on the set. let's start with the infrastructure story. the trump administration has plans for infrastructure. could this be something substantial that people could get the hind? with thisng to meet on capitol hill? is talk about the problemsnt and the have not all gone away, but they found a proportion. given the opportunity to look at havehe fresh issues, we change and atate

the top of his agenda is accompanied by the infrastructure and there are two ways of looking at this. to allow theoing increase in infrastructure? i am skeptical about that. suddenlyd to see that changing. there is the equity market yields are up. did he win something on infrastructure? will it rejuvenate the trump equity trade? it shows this nicely and

there were assumptions on the selloffs for the bonds and the massive increase in deficits would come from the infrastructure spending and the tax cuts. negotiations the ie likely to stymie that and don't see it as a government issue. there is a private sector solution. >> thank you very much. anna edwards is outside westminster for the whole week and we have a huge week with politics and conversations. the world is waking up to a new politics. off the moving to cut ties.

we have a lot more to get through. how do the polls shift? we will take you through all that. the european market is up next.

guy: monday morning. welcome to bloomberg markets. this is the european open. your first trade of the cash session coming up. i'm guy johnson in london, matt miller in berlin. what are we watching? london getting back to work after saturday's terrorist attack that left seven dead. financial markets are looking through the event, but with three days to go until the general election, will there be an effect in the polling booths? tensions flare in the gulf as a saudi led alliance