anna: global stocks in the green after the s&p snapped a four day winning streak area markets brace for another big drop in u.s. payrolls. initial jobless claims did dip below 2 million. president trump said to be looking at a new round of stimulus up to $1 trillion, just not yet. just as the ecb identifies its response after what christine lagarde labeled a tepid improvement. a tencent of protest in the united states means largely

peaceful as democrats look to curb presidential power under the insurrection act. we are live to washington, d.c. a very good morning. i am anna edwards from london alongside annmarie hordern from new york. you thisod to see friday. an incredible week of news flow. a lot of the imagery, and some of that shocking, coming from the united states, but as far as risk assets are concerned, the stimulus stuff coming from europe, whether that is in the shape of monetary policy or in the fiscal form coming from germany. annmarie: we may get some more stimulus news from the united states. the trump administration is envisioning another $1 trillion in the next round. that could potentially be news coming up in the next few weeks from washington, d.c. the imagery has been extraordinary. a turbulent week across the

united states. new york city, where i am, is still under curfew, but we see peaceful protests, so a lot of some of these other cities are starting to actually lift some of these curfews. let's take a look at what is going on in the markets. fairly muted session across asia. u.s. equities turned down in the red yesterday. s&p 500 futures are to the upside. , .83%. year yield yields taking a little bit of a breather, climbing to the highest level since march. switching the board to euros, surging. 1.13, have not seen that in a while after the ecb had a bigger than expected boost. a big stimulus package from angela merkel. italian bonds as well rallied off that stimulus story and of course the ecb story, adding more than what was expected. oil at a $40 handle. opec-plus set to extend cuts. unsure when exactly they are meeting. have this breakthrough with iraq.

me on this bloomberg live event and said he would be incredibly surprised if crude trade above 50 so maybe the market needs to get used to this $40 handle. that's get back to one of our top stories. the imagery in the united states has been shocking at times. a turbulent week. americans have been gathering in minneapolis, new york, and elsewhere, for memorials honoring george floyd, the unarmed black man whose death sparked rolling, nationwide protests against police brutality. protests which have entered a 10th evening, with some cities, including los angeles, listening to curfews paid latest from washington, d.c. with john hardy. thank you for joining us yet another night. it was late for you in d.c. an extraordinary week. anger, violence, but also one of reflection. how are we ending it? as tony capote year, one of our reporters at the

pentagon reported earlier, there are now 7600 national guard, law-enforcement officers, and active military. they are stationed outside the city. york, thaton, in new was a rainstorm tonight. there were some protests but the curfew -- there was no curfew tonight and the protests were quite useful. it was near the white house, which is -- it kept the perimeter a little bit further away from what it was.

that makes supplies for the coronavirus test. annmarie: just quickly, how does all of this planned november? marcus: -- john: well, it remains to be seen. president trump has been dropping in polls. this of course was already apparent before the death of george floyd and his reaction to it. the of course was coronavirus and his response to that. but you know, it is still five months to november. as i said, he is going to maine. what is interesting about maine is that they do not give the a head in the election or electoral votes. it is very important. in the last election, he won one electoral vote and that's all he really needs. john hardy in washington, d.c., thank you for joining us. let's get to the bloomberg first word news. the coronavirus in brazil has reported a record number of daily deaths. the nation surpassing italy to become the third in the world for total fatalities. brazil has become the epicenter of the virus with over 600,000

confirmed cases. latin america accounts for 40% of the daily virus deaths. opec and its allies are set to extend production cuts after a breakthrough in negotiations. russiaate told bloomberg and saudi arabia clinched a tentative deal. the pair were pushing the top producer to stop shirking its responsibility in cheating output cuts. it still needs to be ratified. the u.k. and the e.u. are set to end this week's brexit negotiations with little progress. officials are so far apart of crucial issues and have a key deadline at the end of the month. the e.u. is hoping to persuade primus are born johnson -- boris johnson -- persuade prime minister boris johnson. thousands gathered across hong kong to commemorate the victims of china's military crackdown in tiananmen square. that is despite police outline a mass gathering, citing the coronavirus pandemic. as well as the main vigil in

victoria park, many congregated in smaller troops that adhered to social distancing rules. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. anna? the program,up on back here in europe, at frankfurt and berlin, lockstep. christine lagarde and angela merkel lead the efforts to aid the economic pickup from the coronavirus crisis. the ecb's stimulus. this is bloomberg. ♪

anna: welcome back to bloomberg's "bloomberg daybreak: europe."

i am anna edwards alongside annmarie hordern, who is in new york. responsentensified its to the unprecedented contraction facing the euro area with a bigger than anticipated increase to its emergency bond buying program. the central bank is expanding its purchases by 600 billion euros and has extended them until at least the end of june 2021. christine lagarde -- i can assure you that there view in theous governing council that action had to be taken. in the face of that inflation outlook, and given our mandate of price stability, action had to be taken. lagarde oftine course. let's talk to the hsbc global asset management, global chief strategist. very good to speak to you this morning.

lagarde christine saying the decision was unanimous. do you think the market was convinced by a clear communication story from the ecb? is the message fully and loudly understood by the market? >> good morning. nice to hear you. new, i think the ecb yesterday and the policy announcement -- they were really quite impressive paid as you say, we had the extension, confirming the extension from mid-2021, reinvestment until 2022, managed to roll offs as well in terms of those policy proposals into the future. so an impressive announcement, which puts the ecb quite ahead of the curve. i think. as you say, clear communications also from the guard. this policy announcement, for me, is quite important because it begins to help us keep bond yields at the right kind of level. as you saw in terms of the

market response yesterday, we significant improvement in spreads and periphery spreads, so that is telling you i think that the market is responding to it positively. the worrying sign was the action on the euro because what we really want to see for a successful reflation of the euro zone at this point is falling spreads in the periphery and a falling euro. that would be the most reflationary message and stimulus that the market can deliver so this combination we have got instead of falling something toybe watch. but you are right. the challenge really remains support thee can euro zone because even on the ecb's own numbers, the inflation projections remain very low going into 2021 and even into 2022, the ecb is saying inflation will be below 1% so these measures that support

reflation in the eurozone are really important but the announcement as far as yesterday, i thought it was impressive and puts the ecb ahead of the curve. annmarie: thanks for joining us. it is really on a tear. some of the technical signals are flashing a bit of warning signs. at what point does the euro strength start to make europe uncomfortable? is a good question, and the key issue really, in markets, interestingly, when mr. draghi made his presentation around whatever it takes, that whatever it takes reflection in terms of shifting european policy, we did see also euro strength so we know it will be an important part of how the reflation package is going to be delivered into the euro zone so the ecb are going to be looking for a combination of falling periphery spreads and the weaker euro over time.

and it might mean that we need stimulus evolution of packages being delivered. the critical thing to understand of course is it is not just about the ecb at this point, so we are in what i call the post interest world at this juncture, and what we saw yesterday, perhaps even more important than the ecb, is signs beginning to become clear around a more coordinated monetary policy and fiscal policy working together. news, becauseve in principle, it allows fiscal policy to be taking a little bit more of the driving seat in driving force to move inflation back to target over time. i think we have got to watch the ecb and the fiscal side as well because if that is delivered in enough size, then it is potentially a game changer.

anna: i have seen that described as a collective purpose being demonstrated by the european institutions and governments this week. where is the missing piece of the fiscal puzzle for you? we have had been recovery fund being much hailed by merkel and macron and the european commission. that needs approval of course. this week, we saw germany with a big fiscal package. where are the missing parts of that fiscal jigsaw? joseph: we have come a long way, as you say. it is remarkable, when you look back over recent weeks and recent months, and the issues and have been worrying concerning economists, it is very positive news. we are going in the right direction. the recovery plan, and the actions by the ecb, are exactly what we really want to see. i think what you say is correct. we need to watch this developments closely. will it be big enough? will we need to see more packages being delivered?

are we going to have any issues in terms of the approval process? those are the key things to watch. once we get to this point where we can see the fiscal delivery getting closer and closer, and we can get more confidence that that multiplier, that economic effect from the fiscal stimulus and the combination of support for monetary policy, is really going to play through in an effort to lift the european economy and really gauge this reflation in a much bigger way than what we are seeing at the moment. that is the point i think that we can really get more positive about european risk assets and european equities. annmarie: is this going to get a firm endorsement or will it be a watered-down version? joseph little stays with us. bad u.s. next, another jobs reading is expected today. bloomberg expecting unemployment rate to go about 19%, something we have not seen since the great depression. up next, we are going to talk about america's labor market.

this is bloomberg. ♪

annmarie: this is "bloomberg daybreak: europe." i am annmarie hordern in new york with anna edwards in london. the trump administration are said to be expecting to spend up to $1 trillion in the next round of economic stimulus. the president is yet to make a final decision on the action. he says he wants to include an infrastructure package along with other measures that would push spending beyond that amount. in the meantime, americans filed a nearly 2 million applications for on appointment benefits last week, maintaining the downward trend as businesses continue to reopen nationwide. despite that, the number of people continuing to claim for financial support increased to

21.5 million. analysts estimated the climb. later today, we will get the all important jobs number. the figure is expected to show 7.5 million job losses in may. devastating members. joseph little from hsbc global asset management still joins us. is today's unemployment picture and the data we are going to get mostly priced in? and if it is not and we get a worse reading, is the market going to rally? because more bad news will mean the fed is going to have to intervene yet again. and marie -- annmarie. i think what you are saying is correct. that is the message coming through from what we have seen in the continuing claims data and the survey where the weakness was less than expected. is the data coming in now a little bit better than expected?

it could begin to do quite quickly even though it will remain depressed for a while yet. i amrms of the markets, very sympathetic to what you say. the narrative, the story that we have been telling ourselves in the investment markets over many months now is about the downturn, the lockdown, the damage that has been done in this economic sudden stop. it is not surprising that weak data has not really moved markets that much, and that, combined with the idea that we may have seen the trough in the data already in the early part of may in terms of the u.s. labor market numbers, i think that really tells us where we got to ny we are seeing this weaker response to numbers now. the question really is, if a lot of that is priced, if a lot of that is already discounted by market pricing today, what moves

the story on? it is those new things, those new stories, that may be are not being expected by the market, that could hurt that scenario and that could challenge pricing. if we were to see a situation on theomething changes fed policy side, than that is more important i think in terms of the market direction from here. thatnse really is that policy stimulus remains very much in play, very supportive for the market. what we have seen in terms of how u.s. equities are trading, it is significant momentum. what is your assessment of how long it will take to get back to a precrisis growth trend? we talked in the early part of this crisis about how exceptional it was an different it was for others. it certainly came on very quickly but i wonder if it will linger just like any other recession. what is your assessment of that? joseph: yes.

i think that is right, anna. wooshticipate a s pattern to the recovery globally and what i have in mind is that the trough in the data is in the second quarter and then it takes some time. it is not instantaneous. the data get better through the second half of 2020. and then we can gradually reestablish the precrisis growth path. i think there is an important distinguish meant to make -- distant wishing to make. distinguishing to make. you can see quite strong growth rates in the recovery phase. what really matters is can you recover the precrisis levels of activity? it is likely that there's going to be some damage to the overall levels that we see even though we can see some quite strong growth rates coming through as we move through in the next

period and the second half of the year. in our recent media outlook, clearly, there are risks to that scenario, particularly if we were to see a second wave of the virus or if we were to see an error in terms of scope policy, but at the moment, it is this idea of the swoosh recovery that i think is the right want to have in mind. annmarie: joseph, thank you very much. that is all we have time for, i am afraid. joseph little, thank you very much for joining us on bloomberg. we should check what is going on in these markets. we have had a lot of stimulus conversations this week. we have had some of that with joseph, and now, the market thinking moves onto the jobs story in the united states. limbo andmingly in maybe today is no different. we have the msci asia pacific up i .3% right now.

u.s. futures pointing to the upside. the story in asia is a story of may be muted gains coming through. i put the euro in here as well. whether that rally in the euro is -- in his mind, it was not a great saying, but whether it is sustainable is also part of the question. have 113.48.tly the euro increasing for the 10th consecutive day, the longest day since 2011. we also have brent back about $40 a barrel. .18. futures point to the upside pit when we get back, we will get into the brexit situation. it has been kind of sidelined understandably in terms of media coverage at least but the negotiations have been continuing at least remotely between brussels and london. what can be achieved? we will get into that conversation later. this is bloomberg. ♪

annmarie: good morning from bloomberg's headquarters in new york city. i am annmarie hordern. anna edwards is in london. this is "bloomberg daybreak: europe." global stocks in the green. markets braced for another big drop in u.s. payrolls. initial jobless claims did dipped below 2 million. president trump is said to be looking at a new a round of stimulus of up to $1 trillion as the ecb intensifies its response after what christine lagarde labeled tepid improvements. in the night of protests

united states remains largely peaceful. this as democrats look to curb presidential power under the insurrection act. we are still under curfew in new york, but a lot of cities across the united states are starting to lift curfews. as you mentioned at the start of the program, the imagery in the united states has been extraordinary in terms of shocking, at moments, but there also has been a lot of moments of reflection as the u.s. deals with this unrest and starts to look a little bit more internally about the race inequality and what that means in the united states. all of this is going to be a huge debate leading up to november. on the markets aside, the markets will be interested to see what the u.s. government ends up doing. trump looking at another $1 trillion in stimulus. a lot of that will go towards infrastructure and you have been talking a lot about infrastructure spending as well as more testing. we are in the middle of a pandemic.

new york city is technically still under lockdown. anna: absolutely. there is a lot to focus on stateside, as you say. in europe, the focus has been very much on the protest in the u.s., of course, but also on the fiscal and monetary stimulus coming through in the eurozone economy. notably from germany this week, oil also a big theme for us. i want to come back to yuan these latest headlines that we are seeing here. opec and opec-plus meeting scheduled for saturday according to delegates. we understand this from delegates. i know we have seen the price -- oil price ticking upward over $40 a barrel on brent. as we have seen distance being put between those incredible days of negative oil prices and what we see now in markets. things starting to get back to pre-march levels. what should we be watching out for on saturday? annmarie: i think saturday will just be a rubber stamp. saudi arabia and russia have now

-- they are on the same side going into this meeting. they both want to extend the current production curves. they are supposed to start tapering. one of the things that really iraq,en a roadblock with it looks like they were able to convince iraq to come on board and try to get compliance. our global head yesterday said to me he was optimistic on a deal, pessimistic on compliance. we will have to see what they say, but it looks like they will be ruining a weekend. giventhey could become a your oil focus. i am sure people said that before about oil stories and compliance. it is a long running theme. let's turn to another subject we have been covering extensively this week and that is the latest development in hong kong. cash forning out of donations to provide legal assistance to protesters have fallen as people are less

well-off. the organization which provided the assistance has had its bank account with 70 million hong kong dollars. it was frozen. two major british banks endorsed beijing's security law. hsbc and standard chartered say the law will help maintain long-term economic and social stability. joining us now, a rather different view. the mp and chairman of the u.k. parliamentary group on hong kong. alister, very good to speak to you. you have been critical of the big chinesese operations, banks, have spoken out in favor of beijing's security law. do you think it is right for banks to be stepping into politics at all? shouldn't we let banks stay on the sidelines and take the political backdrop they operate in as a given? --when banks get political, we all suffer as a consequence.

i can understand there has probably been an armistice political and commercial pressure on standard and hsbc to intervene in this way. seriousthey have made a error of judgment. in the longer term, banks, like all businesses, rely on a stable commercial environment in which to operate, and if you increase political instability, then inevitably, that fits through into the commercial and financial sectors. and you know, if china is allowed to think that china is only bound by the international obligations it chooses to be bound by, then ultimately, that is massively destabilizing. banks, like all other commercial organizations, will suffer as a consequence. whatever commercial judgment they have made here, they can explain for themselves, but politically, this is a serious misjudgment, and one they will

have to revisit fairly soon. annmarie: it is annmarie hordern in new york. the u.s. is dealing with their own tensions with beijing, and i wonder, does this, with the banks involved, as well as now, prime minister boris johnson johnson running that op-ed as well, does this mean a broader instability between the u.k. and china? alistair: that is one of the risks here. i am somebody who has been concerned about china's activities for a long time. the covid-19 pandemic has given a sharpness to the political the concern i have international for someone who has concerns over human rights in particular. the response of the united kingdom may indeed follow the response of the trump administration in the white house, and it is one which will use these issues in order to isolate china. that isthat, you know,

a foolish and wrongheaded way to be going. if we are to see meaningful change and long-term stability, you have to do that through a process of engagement. -- when we, now that do come through the covid-19 pandemic, there will be a different political environment towards china. there will be more concentration , execution of responsibilities. and you know, this is why i think, at the moment, the political judgment that has been taken by hsbc and standard chartered, understandable though it may be, is short-term clever, but long-term foolish. have been campaigning for some time to expand access to british nationals overseas passports in hong kong, to get more people to be eligible for

those. protesters in hong kong say it is all very welcome and all very nice to get those offers. some of those have taken up some of your calls, i understand, but they also want to see sanctions. how many people do you realistically think are going to take up this opportunity to pursue citizenship in the u.k.? alistair: it is the availability of it that matters because it is the signal that it seems that when it comes to the position of the hong kong and chinese, the united kingdom -- -- we will stand by the people to whom we have historic obligations. and you know, in terms of our own economy, these would be good people to have here. they are economically productive, very creative people. they would sit very well with a lot of our own economic profile here, but we do it not for these reasons, but because of the political message that it sends.

understand, china will walk away from the joint declaration. if she thinks she can do that with no consequences. abode tothe right of noople who hold the b passport is -- if they have entered international law, then there will be consequences. anna: you see debates in the house of commons on whether it will be safe for parliamentarians to be operating. we saw the business secretary taken ill but it was not with covid-19. i am sure everyone is pleased to report that. why do you think it is so unsafe? what needs to change in the way parliament operates? alistair: parliament was able to operate, not to full effect, but is still not operating to full effect even when it has recalled

the form. remotelyble to operate . the virtual parliament, as we called it. and you know, the reasons for by the leadered of the house of commons, but far from clear. they do not seem to be particularly worthy. ands putting the health safety of not just mp's, but the 3000 people who work in the house of commons along with us. ultimately, the constituents and the families that we would be going home to at the end of the week. you doubtless have seen the pictures of mp's queuing around the block within the house of commons. i have evincing those pictures here in new york. mp's queuing near the green.

thanks for joining us, alistair carmichael, chairman of the u.k. parliamentary group on hong kong. staying at hong kong, the financial secretary says he is ready to defend the currency's link to the u.s. dollar. those comments and they take away interview from bloomberg. take a listen. andhe banks themselves their crimes, they see the merit of this legislation. people are waiting with interest. scope of thethe legislation, the implementation details. i do not believe the positive reaction towards business security legislation is widely held among the business community. >> what do you think will be the immediate and then long-term impact of maybe what we could call a decoupling of hong kong and the united states? >> i would not say this is a

decoupling but this is an .djustment it is an adjustment in the the u.s.hip between and hong kong. forward, yougoing still will be enjoying a mutually beneficial relationship. you mentioned about the special privilege afforded to hong kong. this also serves the best interests of the u.s. here in terms of the economic interest and other interests. i think that there are still a lot in common. >> without a doubt in your mind, the peg stands? >> sure, of course. >> because again, there is the so-called nuclear option that donald trump could take and prevent hong kong from tapping into the clearing process and selling u.s. dollars. he is unpredictable. what happens if they take that?

>> i think we should not speculate too much. you must have a contingency. of course, we have thought about that as a responsible official. but on the other hand, i just want to that the public know that, when we approach this issue and we consider this issue, we do not need to over speculate. run up to in the 1997, it was discussed whether the dollar peg could be, may be, in some way, swapped out to some sort of renminbi peg. we know that is not a fully convertible currency. can you tell me may be of those contingencies that you are talking about if that nuclear option is employed? >> we do not think we need to do any review on that system. we stand firm to defend that, and the country will be in the

defense of this exchange system. minneapolis holds a memorial remembering george floyd. his killing was captured on video and has caused outrage and sparked a wave of protest in cities across the united states. up next, we discussed the latest. this is bloomberg. ♪

annmarie: this is "bloomberg daybreak: europe." i am annmarie hordern in new york with anna edwards in london. it has been an extraordinary week in the united states. a week of anger, violence, but also a reflection as the country has been forced to confront its painful legacy of racial

injustice. major corporations have moved with unusual speed to position their brands and messaging for america's latest crisis over racism and police brutality. mtv, goldman sachs, and nike are among the companies pledging money in support for the cause. joining us now is the deputy director of the berlin office of the german marshall fund of the united dates. thanks so much for joining us -- united states. thanks so much for joining us for it i wanted to start off by asking you about the unrest and the election coming up. does it work in president trump's favor? it pushes the pandemic off of the front pages, which many were criticizing the administration for the handling of that. do you think it could backfire? >> thanks so much. it is a hard question to answer simply because we still have five months to go before the election. naturally, there is probably half of the united states and even people here in europe thinking, how can president

trump get elected when the ofntry is facing challenges unprecedented scale, pandemic and economic depression, and now, social unrest. of course, if the unrest spills over into more routine and criminal elements, then president trump's message of law and order could resonate with parts of the electorate in the united states. good morning to you. and you see disapproval ratings for the president, the protest activity having an impact already or does this have to do with the coronavirus handling? are we at to see opinion polls reflecting the protests? sudha: no doubt about it. he did get above earlier in the year. president trump. now, his approval rating has sunk. his disapproval rating is at an all-time high at approximately 54%, and no other president has been in this territory since the advent of modern polling, so i are definitelyns

worried about the future and do not necessarily think, at this moment in time, that they are better off than they were four years ago. so you know, it's probably going to be a long, hot summer of unrest in the united states, and president trump does not have a lot of time to turn things around. annmarie: you are sitting in berlin. i want to know, what does all of this mean in terms of america's place on the international stage , and how does this affect american foreign-policy? is notpresident trump acessarily, you know, favorite among europeans where i sit here in berlin. he's consistently -- his approval ratings are always though here in berlin. in fact, people here in germany sometimes now have the same

favorable opinion about china and the united states, but you know, from what has happened over the past week, american values in terms of soft power have definitely taken a blow and that is evident by the protests been here in europe, berlin, london, and amsterdam. in europe, there's definitely people acknowledge that racism and prejudice exist in their own societies and also the united states but there's desire for having, you know, a better model of democracy. the united states has always stood up for that. what happened this week has really, you know, really weakened american standing in the world. if protests and civil unrest continue, we see the theme of tensions between the u.s. and china continuing to develop. what do you think is the endgame for the u.s. at this point when it comes to china? is sought?k a truce

or do you think it is not what the u.s. administration wants to achieve here? anha: china has always been issue even in past cycles. it is always brought up. the punching bag. this time, it is different. it is bipartisan agreement that china is the biggest threat to the united states, whether it is on the trade front, the technology front, or the military front, or even just the question about systems, how we live in terms of human rights and rule of law, so i do think that china -- the issue of china is not going to go away. to be whatis going will be the tactic taken. if president trump gets reelected, he will certainly be emboldened, and he could actually move forward with more drastic measures. we have already seeing things escalate in terms of the passenger airline and sanctions

that have already been put up. if joe biden is elected, i don't think those issues are going to go away. certainly, the tone will change, and i can see somebody like joe biden will also want to bring in allies in europe when it comes to confronting china. anna: thank you very much for your time. good to speak to you. sudha david-wilp, deputy director of the berlin office. coming up, we discuss the week that was in markets and we will reflect back on some of the news flow. this is bloomberg. ♪

>> we already have the economic destruction of the unemployment rate skyrocketing as a result of coronavirus. markets have been very quick to

raise these opportunities of some sort of a v-shaped recovery, which in our view is unlikely. an equitystill having market that is focusing on the reopening of the economy. there are important levels that have now been -- that have now been broken to the upside and that could suggest that there is just a remaining positive sentiment. >> i think equities are right to rally on the fiscal stimulus. they have been right to rally on the monetary stimulus. >> equity markets have a response to the economic policies that are very strong and productive. market point of view. the first winners are clearly the -- companies. most of them are listed within the nasdaq. >> i see a v-shaped recovery because that is what the markets are telling us. >> there are certain parts of

the market where one can look at and there's potentially some value, but the rally that we have seen at the moment, definitely taking a positive outlook in terms of a v-shaped recovery and a pretty quick one at that. >> we suggest investors should be invested, should participate in the rally, but we are mindful that a lot of good news seemed to be discounted. we think it is more prudent to be slightly cautious and be modestly underweight equities. was the take of analysts and newsmakers on bloomberg this week. s&p 500 futures are up .7% this morning on a day that the u.s. unemployment rate is expected to hit potentially 20%, the worst since the great depression. everyone is questioning this disconnect between financial markets and the real economy. it is the most hated rally in history, anna. anna: was it -- there is often a time disconnect

between the two. you mentioned u.s. futures. european futures also pointing higher. euro stoxx 50 futures up 1.4% this hour. that is it for "bloomberg daybreak: europe." i will be back next couple of hours with matt miller to do the european market open. ♪ you say that customers make their own rules.

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anna: good morning. welcome to "bloomberg markets: european open." i am anna edwards alongside matt miller in berlin. matt: good morning. today, the markets say if in doubt, buy everything. a double dose of stimulus on the continent. the cash trade is one hour away. here are your top headlines from the bloomberg terminal. united in stimulus, europe's monetary and fiscal