all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours. >> good morning from bloomberg's european equities, it is 6:00 a.m. and linda. i am annmarie hordern. the eu and u.k. signal a thawing of lesions over vaccine sharing. european leaders discussed the kinetic rollout in a meeting that kicks off today. fed chair jay powell placed on the recent rise in yields. the treasury markets exhaled after a five-year option went off without a hitch.

still stuck in the suez canal, the massive container ship continues to paralyze traffic on the crucial waterway. we have the latest. very good morning to. just 6:00 a.m. in the city of london, a mixed picture across global equity markets this thursday morning. almost there until friday. asia markets now flipping. they were in red earlier. we are now in the green although we had that massive single trade yesterday with the nasdaq closing down 2%. european equity futures dr. bright u.s. futures in the green , 10 year yield back above 1.6%. there was a sigh of relief after the five-year option went relatively smooth, but today it will be about the seven year. remember in february the seven year auction was quite a disaster that sparked the global bond selloff, and oiled this morning down to percent although brent is $63 a barrel. whether or not we are worried

about supply because of what is going on in the suez canal. that ship is still truck -- stuck blocking, creating a bottleneck of other supplies and potential oil tankers or is the market worried about what is going on with covid and continue lockdowns, especially here in europe and that rings us to our top story, europe's troubled vaccine rollout will be top of summit. it comes after the bloc signaled -- u.s. president joe biden will dial in the toxic leader to discuss relations with united states. let's get more from our reporter in brussels. is he a deal coming on vaccine? >> we are very thin on detail in terms of a potential deal, but we do need to focus on the language and tone coming out of the united kingdom and the european union.

even on the show we were talking about escalating tensions, more restrictions coming into play and a potential big hit, and now the language has changed and it is worth focusing on that statement, they put out a joint statement, because that means the two sides agreed on the content and agreed on the language, and they say we need to find a solution that is a win-win solution for us. the context of covid-19 needs cooperation between the two sides. we are thin on the detail. we know the two sides are fighting a disputing overproduction, especially in the netherlands. both sides are concerned about taking a hit, but the tone really is worth highlighting that it has changed and it does take us closer to a deal. that detail, which will be key, is still missing. >> is a eu leader summit and get

the americans are popping their heads in. what is going on? why is president joe biden joining the skull? -- this call. >> europeans are very excited about this. normally he would have been here in brussels. we are talking about covid-19 at restrictions, so that is not possible, but they are excited because they look at this as a way to show the world this is the start of a new relationship between the european union and the united states, the official ending to politics by tweet. they look at this is good and beneficial for foes -- both sides and they want to stick to the positive. talk about climate, talk about economy, talk about trade. russia and china would have been on the agenda, but kind of tricky to get into the sensitive issues. that perhaps will feature but it will be very short. >> is a really good point.

so much of these discussions are like sensitive issues happen on the sidelines of these massive meetings. it is hard to do sidelines when it is out in the open audit virtual. thank you so much for that update. just an update as well, speaking on vaccines, astrazeneca just a few hours ago updated results of the u.s. trial, lowering overall efficacy rates slightly. this comes after criticism previous numbers were outdated and said the results showed the shot was 76% effective. before earlier it was 79%. there is a bit of a difference, lowering on c. this latest twist as to questions over whether the vaccine will be approved in the united states. we do know astrazeneca as been in the crosswise when it comes to e.u. and u.k.. joining us now is the group c.i.o. and member of the executive corps at bank of julius baer. some real problems as maria

outlined with what is going on with the eu, and that will be discussed at the leaders summit. at the same time, european stocks year your today are doing much better than the u.s. and are still relatively cheap. do you think now is a time if you are not exposed to europe you want to get into by equities? >> i think it is time to be invested in equities but whether you want a european buyer or not is not so much a function of what is going on in the eu, which reveals more shortcomings of eu politics. this vaccine controversy highlights the lack of coordination, the lack of industrial policy. one of the two messenger rna companies that rapidly launch a solution for the vaccine for that virus was born out of germany but backed by the u.s.

capitol with an american company. it shows a lack of european interest and support in innovation. that is a very big deficit, but structural, and frankly the image a project to the rest of the world, we see surveys that the young chinese have a falling opinion of western democracies. this reveals that in difficult times like the pandemic, cohesion is absolutely crucial. when it comes to european equities, it is a different story. the names, the companies that populate the indices are by definition global companies that yield to the global cycle with value buyers precisely because of that lack of industrial policy. we are talking about old business models populating these indices, and they have been in recent weeks and months debating the [indiscernible] of the rally

as money shifted out of covid winners and into covid losers. >> where do you see the european economy going? euros are manufacturing, pretty big numbers on the print yesterday. is the risk to the downside given the vaccine rollout and troubles in the euro zone? >> obviously, they will lag, the u.s. and european economies, but every indicator -- we have every reason to believe there is pent-up demand from the consumer , so they will follow the general pattern. although stimulus measures are nowhere near as radical as what we have seen in the u.s. by the new biden administration, and at the same time a slightly different mix, more long-term, more indirect stimulus through infrastructure spending rather than direct to consumer, direct

to households. >> i want to get your take on what is going on with euro, neville of the 200 day moving average for the first time in months. do you see the period of euro strength coming to an end? >> i think the euro is a very special currency. the crisis regime of the euro is off at the moment. that is not the issue. it is more driven by fundamentals, and to be honest dollar-euro, the consensus has been for a weaker dollar on the back of the unprecedented stimulus measures in washington. i do not think the dollar is being compared against other fiat currencies. i think all fiat currencies are being debated. >> yves bonzon, stay with us

this thursday morning. let's get a recap of other news. your first word news. >> good morning, the suez canal is still blocked. tugboats and diggers so far have failed to dislodge the massive container ship that is when the ground. it is raising the chances of prolonged delays through one of the world's most important waterways. around 100 ships are now gridlocked. the blockage is costing $400 million every hour. north korea has fired its first ballistic missile and a year, an early challenge for u.s. president joe biden as he forms his policy toward pyongyang. japan and south korea confirmed the move, saying it landed between the korean peninsula and japan. the u.s. says it is monitoring the situation. the securities and exchange commission as reportedly started an inquiry into the spac frenzy

rubbing wall street. the concern is it may be insider trading. the inquiry is currently asking for voluntary information. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. >> thank you, just ahead, the latest is from washington. jay powell placed on ir yields well janet yellen and senator warren's bar over oversight of black. that discussion next -- senator warren's bar over oversight of blackrock. that discussion next. this is bloomberg. ♪

>> it is not obvious to me annemarie: that this is the correct -- to me that this is the correct tool. >> designation is what gives the fed increased oversight powers, is that correct? >> yes. >> and is blackrock currently designated to receive that current oversight? >> it is not designated but i think it is important to understand -- >> it is not receiving increased oversight from the fed. are you currently looking at designation for companies like blackrock, $9 trillion companies like this. >> we have looked at this in the past.

>> you are the head of episodic now. i am asking whether episodic is considering designations for these large financial institutions. >> i think it is appropriate to designate institutions whose failure would oppose a material risk to the u.s. financial system. >> my question, does potentially eight $9 trillion investment company pose some risk to the american economy if it should fail? >> one needs to analyze what the risk is. an asset management company is very different -- >> how do you analyze what the risk is if you are not doing the investigation during epsoc. >> and has undertaken such work in the past. when it looked at asset managers , and issued a report outlining what it's all as some of the most significant risks.

>> i appreciate you have done this in the past. are you continuing that investigation now? >> i am just beginning a program with epsoc, and asset management will be on the list. annemarie: a punch exchange, treasury secretary janet yellen and senator elizabeth warren clashing on the treasury oversight role. the treasury secretary is investing she may pose -- one of the headlines to come out of the hearings with yellen and powell unveil. let's get more from dani burger. what is warren's concern of calling up blackrock specifically. she really took aim at blackrock. >> she said it is nearly $9 trillion in assets and we need to look at it. this issue does go beyond blackrock itself and the asset management industry. more than one of the democrats found it very controversial when the trump administration decided to stop designating institutions

as risky and instead look at individual activities. their argument at the time was this was the most prudent tool. episodic is the financial services oversight council, but yellen not budging on this issue, you can see reaction to share price. investors did not seem concerned that would be more oversight. yellen making a point to say blackrock is an asset manager. the money hold is from investors, not from depositors, so it is a different thing to focus on. annemarie: what about the rest of the hearing? any more details on their assessment together on the economy? >> pal sticking to his guns here saying higher yields's economic improvement, not anything to be concerned about, and pointing out his inflation trajectory that what they see as a potential backup for this year. there forecast is 2.4. next year it is likely to fall, but any rising prices will just be fleeting because of pent-up

demand or from the supply chain bottlenecking, and because of that if you look at what the 10 year yield has done so far this week, it is on track for its first weekly decline. falling about 10 basis point so far in the past four days. annemarie: thanks to dani burger wrapping up all of that at a d.c. the bonsai group cio of julius baer is to with us. the u.s. is doing well when it comes to covid-19 vaccines and really try to get the economy back up and working. what are you most worried about? is it the fiscal spending or this potential for inflation? what makes you worried about the united states? >> i think we are in a phase where data has been massively distorted by the pandemic, and more specifically by the government response unprecedented to the pandemic with widespread lockdowns, so we

are flying behind, because there has been such massive distortion to economic trends and data in the last few months, and this will carry on eventually until the point at which the economy normalizes, so you can get carried away by shorten trends in data, which are misleading. my main concern is, we have seen massive stimulus in the u.s.. i would argue it felt like the biden administration was anxious to pass the stimulus package early on for fear of not being able to stimulate later down the road. there was also probably $1.9 trillion package size with a name a bit less and it went through and was approved.

you can argue short term there is overstimulation in the economy, because naturally with the reopening, with household balance sheets that are in a unique situation, never before after a recession as a private sector balance sheets been as strong as they are today due to the involuntary accumulated savings from american households, so you still have that firm position to recover, and on top of that you had a massive stimulus. that is a concern because it did we might have a fiscal cliff next year. annemarie: what about the $3 trillion the biden administration now has their eyes on. what is that going to look like if $3 trillion comes into the u.s. economy? >> it is early days to talk about that because it is a function of the finance and mix, taxes, increasing debt that will be associated with that package, and that package will actually

spread over multiple years. back to my point on industrial policy and having a vision, we have to invest in green energy. we have to force developments of new solutions in innovation, and of course the devil is in the execution as always. annemarie: you mentioned this fiscal cliff. we see a pause on fiscal spending in china. with that pause in fiscal spending we see it hit chinese equities. how do you prepare for the same to potentially happen in the united states? >> i think the point illustrate spectacularly the sharp contrast between u.s. policymaking as compared with chinese policymaking, because you see medium-term, long-term planning from chinese leadership, you see a concern not to let imbalances

build up in their economy, in particular in the private sector , and it is very ironic that today china is the only major economy in the world where policymakers are ultra-orthodox, a macroeconomic makes with a slightly more prudent fiscal policy as you alluded to but potentially real and nominal interest rates, so it is a sharp contrast. we are very positive on chinese assets we think the rise of china capital markets will be one of the key trends, and accordingly both chinese and renminbi bonds should have a strategic place in everyone's portfolio. annemarie: a strategic place for chartist and. yves bonzon, thank you so much

for joining us this morning. just i had on daybreak, ryanair prepares for takeoff. the company is optimistic about return to travel this summer. the ceo next. this is bloomberg. ♪

>> [indiscernible] they're not going to be locked up. kids are not going to stay up from school. life will return to normal and i think covid will come with us but it will be similar to the annual flu, the annual cold. >> they might rebel but right now it is a holiday. if that lifted we have got a problem. how close are we to a breakthrough? >> people are not supposed to

drive over the speed limit but they do it. >> you are telling me your summer is reliant upon people getting on the law? >> no, long-term trouble will be much more restrictive, but free movement of people within the european union and between u.k. and europe as well. >> you were talking about the idea you will be flying 80% of the schedule you would normally fly july to september. what is your degree of confidence in that number? >> it is a reasonably i degree of conference -- confidence. the peaks through or months of july through september. [indiscernible] 50% of the european population will be vaccinated. europe will catch up. 50% of the adult population base

and by may, 70% by the end of june, and you will see a rapid recovery of holiday travel between the u.k. and european union through the summer. the portuguese, spanish, and drinks are saying they're going to welcome vaccinated to gay travelers from the 17th of may onwards, so it is not certain, but there is reasonable ground for optimism that once the school holiday arrives that we will see quite significant recovery of travel within europe. you will not see long will recovery this summer, but a lot of people who would normally have gone a long haul for their holidays estate in asia. we will be the beneficiary of that. annemarie: michael o'leary speaking to bluebird. boris johnson warning the country may need cover border measures very soon, his words to prevent the arrival of coronavirus variants from

continental europe, but the prime minister says new border checks could demonstrate flows. this is certainly going to be one to watch. at on that next. stay with us. european equity futures moving to the downside, 2100 in the red . this is bloomberg. ♪

annemarie: good morning. in the city of london. this is daybreak europe. there are today's top stories. the eu and the u.k. signaling the thawing of relations over vaccine sharing. the leaders will discuss the rollout in a meeting the kicks off later today. fed chair jay powell place down the recent rise in yields. the treasury market excels after a five-year option went off without a hitch. still suck in the -- still stuck

in the suez. we will have the latest in just a moment. very good morning to you. a little bit of a mixed picture this thursday morning after we had a really down day on wall street. really saw cyclical trade trade up. u.s. equity futures are higher as you can see in the s&p 500. european futures are looking like they will open up in 90 minutes time to the downside. some of that sigh of relief we saw from the 10 year option starting to withdraw. the focus is going to be the seven-year. a month ago it was the seven-year auction that was a bit of a disaster. this morning, north of $63, paring some gains we saw, this has to do with what is going on in the suez canal, given the

fact that the tinker is locking oil from coming in. look at what is going on in europe and locked down, there's also worry about demand. this morning, we still do not what is happening. according to experts, the best chance for free the boat might not come until sunday. a few more days of this blockage to continue. that incident has continued a spike in volatility in oil markets. crude prices are retreating. joining us now is fiona boal global head of economies at s&p dow jones indices. good morning to you. let's talk about the impact on the commodity side. is this going to be a blip or will be seat prices stay elevated after this suez

situation is resolved? fiona: thank you for having me. this is a crazy situation. the overall impact on commodities specifically in energy, will depend on how long it takes to resolve this issue. there are around 13 oil tankers waiting to go through the suez at the moment. every day longer, that will grow and the disruption on the supply side will only intensify. annemarie: what does it mean for the global supply chain? it is not just oil tankers the world is worried about. a number of ships are backed up. fiona: this morning there were reports that they were up to 170 ships backed up, half of those are container ships. they have your new flat screen, they have some type of food on them, every day goods.

the longer that happens, the more disruptive it becomes. it is important to note that it is an environment where the shipping market is already extremely tight. we were on a just in time supply chain and with recovering from the pandemic, and the change of trade that has happened over the last 12 months because of that. annemarie: of course. e-commerce has certainly exacerbated the situation. it is not just the canal the people are worried about. the panel canal -- the panel canal, it is the size of ships. do we need to think about going around the southern tip of africa, old-school style? fiona: in the next few days, there will be some shipowners that are considering that move in terms of needing to have an alternative. unfortunately, when you go from west to east, you are going that

way and it could take a week longer. you think about all the additional costs of doing that, it is really very significant. as the ships get bigger, we hope they also get more efficient. maybe over time there are changes to the trade flows. annemarie: want to get your take on the oil price. we have it opec meeting come up and they are going to have to roll the cuts or cut deeper given the demand concerns. what is your outlook? fiona: as you said earlier, it is a push pull in the market. they have recovered significantly. at the same time, more recently, we have seen growing concerns about the recovery in demand and we have new levels of lockdowns being brought in in some european countries. from opec perspective, they

should have an incentive to try and maintain that price. it likely means that they will keep those production cuts. you can never be sure what they will decide to do. annemarie: that is true. in the last meaning they called the saudi oil minister, the prince of plot twists. if they were to cut, who can cut more? the kingdom is bearing the brunt of these cuts. fiona: the kingdom has the best ability to cut and could in theory cut more. i think they could also push for probably an improvement in compliance. but we are talking about is opec-plus, we have the russians in the game as well. they have not indicated any interest in cutting further, but they would have the ability to do so. annemarie: where the prices are now, it is a sweet spot for the russian energy minister. i want to end on this one topic

that has no uniformity across wall street. whether or not we are in a super cycle. do think this is an actual super cycle? are we going to see the demand we saw in early 2000 and china that we could potentially see now? fiona: that is the million-dollar question. there are a lot of commodities where the economics are very favorable. likewise, there are somewhere that is the opposite. we may be looking at very strong prices, but it is not across the entire complex. you think of commodities that are important for the adoption of green and alternative energy. they have very strong fundamentals, but likewise, there are commodities where the situation is not quite as rosy. annemarie: thank you so much for joining us. fiona boal which will be across the suez ship still stuck there.

let's get a recap. laura: astrazeneca has updated results of u.s. trial, lowering the overall efficacy rate slightly. after criticism that the previous numbers were outdated. it shows the shots are 76% effective. the latest twist on whether the vaccine will be approved in the u.s. secretary of state antony blinken says the u.s. will not demand that their allies choose between washington and beijing. he is promising there will not be a us or them mentality. blinken says america wants to outcompete china relying on innovation and not ultimatums. the leader's social media companies ask who is responsible for policing content. they are going up later today to testify.

mark zuckerberg purports the platform -- supports the platform, but twitter ceo does not want any changes. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. annemarie: thank you so much. get back to corporate news. we have been speaking to intel ceo about the companies plan to create a new business boundary. take a listen. pat: i am committed to the best products in every category, the best cost structure and the most resilient supply chain. we have seen the ability to leverage this industry but also become a major supplier to the industry. this is a winning formula in the world is demanding more semi conductors than ever before. we were getting more digital and then covid happened. we need to step into this and a

big way. i think our strategy is uniquely positioned us to go on. >> you have been back at the company for over a month, we are talking about production deadlines that were missed over years. what makes you so sure that you have diagnosed and solved the manufacturing problems? pat: we are moving to a yearly cadence of processes following that. we are on track to not only fix the issue, but be a parity and then parity plus and ultimately sustained leadership. the path we are on, looked at the data quite extensively over the last month or so and came to the conclusion that yes, the team had it figured out, we are back. we are back with our new intel ibm 2.0, intel is back. emily: you suggest companies like apple and qualcomm could be your customers, why would they

be your customers if they are your competitors? why should a fierce rival also work with you? pat: as you know and i think you have written on the subject of co-op-otiotion. there are very few companies that can step into advanced semi conductor technology. something we have only used for scale needs and now we are going to open our doors wide for the industry. with that in mind, customers are looking and saying, i can only have tsmc, samsung and intel as choices and only one of those is western u.s. and european soil, i need a more balanced supply chain. i need at least two suppliers of

my advanced technology choices and intel is saying, we are going to be that. there might be some skepticism because we have halfheartedly tried some of this in the past. we are saying that we are boldly going down this path. we are having our best technology, our unique packaging and all of my intellectual property will be made available for these customers. we are going at it with the best that intel has to offer. the world needs more semi conductors. the world needs a more balanced supply chain. you're one of the few companies that can step in and do that. annemarie: the intel ceo speaking with bluebird's emily chang. i want to show you the reaction of how we ended the day on intel share price. at one point it was up 6.2%. testing the highest in a year. we closed more than 2%. we were lower aftermarket on stock.

many are cautioning that intel has to prove itself following unsuccessful pass attempts, what emily chang was just getting at therewith the ceo want to watch. head on the program, the covid crisis. germany chancellor did remove her lockdown plans after 33 hours. a rare apology coming from berlin. we go there next. this is bloomberg. ♪

annemarie: good morning in the city of london. this mistake was mine and mine alone. those were the words of chancellor angela merkel su announced a rapid turn over the lockdown.

it provoked a fierce backlash wrap -- back left behind the scenes. it lasted 33 hours. >> the spring of 2021 will be different to the spring of one year ago. these border testing policies allowed us to better control infections and also to secure the steps towards reopening. >> the germany government is suspending vaccinations with the astrazeneca vaccine as a precautionary measure. our aim in the common aim of the national government and all 16 federal states that tomorrow over the course of the day, vaccinations with astrazeneca ken starr again in germany. >> april 1 and april 3 will be defined as quiet days. a one-off with wide-ranging contact restrictions. the idea was a mistake. it had its good reasons but it was not possible to implement

well enough. annemarie: there it is. the rare apology from merkel. joining us now is chad thomas. this felt very out of character for her. why was there so much backlash about the decision she made? chad: it really was surprising to hear her say that. over the 16 years she is the kind of person who makes a decision and moves forward with whatever the backlash it was. this particular case she felt an immediate backlash both from the public, there were people very upset about the fact that they were going to change the whole easter holiday set up and that stores would be closed during the whole period of time, including grocery stores. there were employees asking if there was another day of holiday . what does that mean?

and also within her own party when she met with them in a private meeting. she was told that this was not something that could go forward and ultimately, she reversed course within just two days time which is uncharacteristic for her. annemarie: we are just off elections they did not go well for the cdu. chad: that is another reason for the reversal. her party is still the largest in germany but the numbers have been dropping dramatically. the greens have been the real benefactors. the difference between them has shrunk about four percentage points. this big jump we saw for her party at the beginning of the pandemic where everyone was

basically backing them as the party of government, that is completely evaporated. you mention the regional elections, her party has its worst performance ever. since the founding of the party. it shows the degree to which things are shifting. very quickly politically underneath just six months out from the national elections. annemarie: those elections are just around the corner. the cdu has a lot of work. bloomberg's chad thomas, thank you for your time. astrazeneca reporting a slightly lower efficacy after u.s. criticism the details of the new data, next. this is bloomberg. ♪

annemarie: good morning in the city of london.

let's get the latest on the so-called blank checks. the u.s. commission has started a inquiry into spacs and how underwriters are managing risks involved. dani burger is looking into it. dani: at the moment they just are asking for information about things like internal control and things. this is not mandatory. it is not a formal investigation. we do note that it is looking at two specific parts. one is due diligence, are the companies they are buying living up to all the hype. and two, potential insider trading. there is a sizable gap from when a spac list and when it acquires a company. during that time they are not allowed to talk about specific targets. if anyone learns or knows about those targets, and are bidding up the spac, that would be illegal.

annemarie: we are waiting to hear more details on what they have to say. dani burger, thank you so much. another story, this broke just around too a.m. london time. a joint statement says they want a win-win situation for both. meanwhile, astrazeneca has lowered its vaccine efficacy to 76%. the move comes after the result of u.s. clinical trials were criticized as outdated. joining us now is bloomberg's senior pharmaceuticals analysis. what a difference 48 hours makes. it is not a whole lot of difference, but it is lower. what impact will this have? sam: this is all turned out to be normal. i don't understand why that data board did what it did for a three percentage point

difference. we focus on the 79.76. the older went from 85% to 75%. i think, i really do not know what happened here. i do not understand why the embassy did what it did. i think someone has to have a good look inside to see if there was any malpractice or activity that should not have been done. annemarie: many are saying so much that you are saying, this is just a rounding error. why is there so much spotlight put on this? when you look at this, it is another doom and gloom cloud for astrazeneca, especially on the pr front. will this be harder for them to get approval in the united states? sam: no. the fda focuses on the data.

they don't care about the disgruntled news. that has nothing to do with it. it might impact the public perception of the vaccine. that would be so sad. at the end of the day, this was completely unnecessary. this was a solid trial with a solid trial with very nice data. ok, it may not look as higher as the pfizer and biotech, but they were done six month ago. what we really care about at the moment is controlling the disease and hospitalizations. i don't think it will make an impact. annemarie: you are right. it would be sad. there are so many people desperate to get in line to get the shot. sam, i want to get your sense about what we are expecting from the eu, do you think we could see and "when-when -- "win-win"?

sam: i am glad the vaccine has rolled out. i am half into my vaccine. annemarie: we are happy to hear it. sam: it benefits no one to have this type of fight. when they are talking about the stockpiles that the u.s. talked about in italy, i really wish, i really wish, if i had one wish left, it would be that politicians say out of this and let scientists and metal goal experts get out with their jobs. -- medical experts get on with their jobs. annemarie: thank you. great personal insight. senior pharmaceutical analysis. that does it for me. today we will be focused on that win-win, and whether or not that shift will be press good -- will be rescued out of the suez canal. will be ever return to theaters?

we will have all that next for you. i am annemarie horton. this is bloomberg. ♪

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anna: good morning. welcome to that european open. i am anna edwards. mark joins us in singapore to take us through the market action. the cash trade is less than an hour away. here are your top headlines. the eu and you kate signal a thawing of relations over vaccine sharing u.k. leaders discuss the rollout. powell play down