manus: good morning from bloomberg's middle east headquarters in dubai, i am manus cranny and annmarie hordern alongside the -- alongside me. g7 leaders take a united stand on china, president haydn pledging -- president biden pledging action. boris johnson looks to delay the

u.k. reopening amid a surge in the delta variance. and netanyahu's run as prime minister has ended. opposition leaders agree to a packed after years of lyrical turmoil. annmarie hordern, great to have you back at london hq. was the g-7 as united front and it did biden deliver everything he wanted? good morning. annmarie: i think on a covid and china they got close to what the u.s. wanted but did not go far enough. josh has been all over this in terms of the numbers. if they want a billion doses, you have to calculate that from february, truly new doses, some 700 million. and on china, there were some pushback from countries like germany. they are saying they don't want

the g-7 to be a hostile group, do they? manus: not at all, but you think about the foreign policy, biden meeting erdogan and putin and nato. this is a piece of global theater for this distraction and biden is keen they coalesce overseas, not conflict, but coalesce on their view on china. that was not bought into by angela merkel. we can talk about the nuances in a moment. to the market. it is about the fed and the dots could move. >> we will have putin on wednesday, but we will hear with jay powell, the biggest market story this week. 10 year yield treasury, 1.4 6% this morning. a lot baked into this market, is the market prepared if we get any hawkish tilt?

i put the pound and there, we will get a statement from prime minister johnson likely to delay the june 21 opening. green on the screen on the futures board, but in asia, a lot of markets closed due to holidays. brent, $73. the story is covid vaccine and demand beginning to pick up. let's get to the latest from those egg geopolitical stories. -- those of big geopolitical stories. first, let's get to brussels. maria, for the latest on the g-7 leaders summit, what are the highlights of the communique, about 25 pages, there were some wins for the u.s. in there. maria: it is funny, we had a communique that was 25 pages long and that is a highlight. under president trump, there was no communique and there was a fear there would be no consensus.

we are in a sense back to normal come -- normal diplomacy. there was consensus in many areas, finding the origins of covid-19, vaccinating the whole population. also mentioned was climate change. and then china. that's where it gets more nuanced, as the united states we know was behind the scenes pushing for more aggressive language on china. for the europeans, they believe you have to factor in this is a country that is a partner and at times arrival. angela merkel was clear, we are not against and we have to be for something. china is the area where they are not fully aligned. we have the nato summit happening in brussels, president haydn already here -- president biden already here. the focus will be on russia and vladimir putin ahead of wednesday's summits. manus: yep.

top of the agenda of nato will be what, reaffirming multilateralism, commitment? the trump era wanted everybody to pay their share. what will haydn's -- biden's message be? maria: the 2% for president trump was an obsession, it will probably die out. he thought other countries should pay more into nato spending. moving away from the money, it will be a contest on russia. the timing of this is so president biden can go to geneva on wednesday, all of the democratic powers of the world, and i can talk to putin. a lot of it is just the theatrics of it. manus: maria, thank you very much, we will keep an eye on the lines across the terminal today. let's pivot to israel. the theater piece is markets,

isn't it? benjamin netanyahu is gone and a new administration takes to power. simone, is this a temporary accession to power? good morning. simone: good morning, quite a few theatrics on the voting of this coalition yesterday. everyone wondering when the new -- how long the new coalition would last, because it's made up of different powers -- different parties with different policies. this is netanyahu's first time out of power for 12 years. the question is can he hang onto being the head of the opposition power to -- opposition party, given there could be a right wing party if he had stepped aside? some comments from even supporters suggesting that was what he should have done. annmarie: the reason for the

entire coalition is to oust netanyahu. can it live if that is it's only joining, binding force? simone: such different points of view in this coalition. prime minister naftali bennett, very nationalist. you also have the first arab party ever to join a governing coalition. as we look at the coalition -- the composition of the coalition, the cabinet posts, the person to put it together will not be the first prime minister, but he tried to spread out the cabinet posts in a way that might not because of these different groups to immediately clash, but of course, one of the big issues here, a subject of disagreement is the fact that there is an ongoing conflict between israelis and palestinians, that would divide

those groups. it is hard to stay away from those thorny issues no matter how much you try. manus: simone, obviously as annmarie said, what could unite them, in terms of policy, economic policy will be incredibly important. what is top of the policy docket? simone: first thing is passing a budget. the need to pass a budget for 2021 and 2022. that has been a really divisive bit of politics in the past and part of why we saw the previous government fall apart. also the coalition wants to limit the number of terms a prime minister can serve, so that also potentially damaging to netanyahu as the longest serving prime minister. other things, looking at health care reform, social reform and money for arab communities.

there was a bit of violence in mixed communities were a lot of arab israelis live and jews live. one of the key proponents of money for those communities was the arab israeli party, and that is something we might see come about simply because that violence did provoke a lot of concern when we saw the conflict ongoing last month. annmarie: thank you so much. politics are driving the agenda this monday morning. looking ahead to nato. just ahead, the g-7 falls short of expectations? there is a lot to digest. we discussed that next. -- discuss that next. this is bloomberg. ♪

>> i think you are going to see straightforward dealing with china, and again, as i have told xi jinping myself, i am not looking for conflict. where we cooperate, we cooperate, and we disagree, i will state it frankly. there is plenty of action on china and i am sure my colleagues think there are things they can improve. i am satisfied. manus: we have been reacting to the g-7 meeting this morning and there is a lot to digest. u.s. president biden, taking a strong stand against china at the three day meeting in england. the fight against covid another key area but it fell short of their own vaccine goals, 613

million doses pledged instead of the huge one billion target. martin, we have talked about climate, covid and china. biden clear he does not want conflict with china. you make the point and i want to understand, what is it most important for markets? is it china and what the u.s. are spending at home, a quarter of trillion dollars per year to build back better against china? is that the correct way to look at this g-7? martin: good morning. i think it is, and to be honest, the person who stole the show was the new man on the block, mario draghi. the take away was action, action, action, and the action is fiscal policy. it is totally different from

post the financial crisis, posted the health-care crisis and pandemic, fiscal policy is the thing, that is going on in america and the rest of the world and that is what mario draghi recommended. annmarie: we will get to mario draghi in a moment because i know you have a lot of thoughts on what he is doing, former ecb chief and now president of italy. when it comes to china, it looks like the united states wanted a tougher line could not corral the group to get there. what is the line germany could take on china? how much further could they push it? martin: i think everybody, whether america or europe or asia, all countries -- because australia, korea, japan and india were also present at the g-7, either part of the g-7 or invitees. everyone's customer is china. so everyone geopolitically have to walk a fine line between

tough on china and doing business with china. politically people want to be tough, but with the business, people have to conduct business with china, so it is very much a double edged sword. manus: we know you are a flag-waving mario draghi fan. let's put it in context for markets. why his economic background is going to be so important in terms of fiscal policies adopted , because the imf are asking for more borrowing. the banks propagating that as well. people are saying to me this is folly because when rate hikes come, the debt load will be expensive. robert: -- martin: yes, and that's why we call it, most people are sick to death of monetary policy over the last decade, and you have the acronym of unp, -- ump, unconditional

monetary policy. but fiscal policy is clearly troubled if we get excess debt. it depends on what that fiscal policy will be used for. the main take away from the g-7 is to move from subsidies, so paying out money for people to stay-at-home like we have with disappointing job numbers in america the last two months, to investments. use of fiscal policy to trigger private sector investment also public sector investment. it is the sequencing of the use of fiscal policy and moving away from the subsidy part, just basically the last 12 months, to investment focused fiscal policy. annmarie: there were also lines in the communique talking about taxing. how much do they bring the entire world onto a global corporate tax rate, especially when you see chinese tech firms low 15% and already advanced

chinese tech looking for exemptions? how does this get through the g- 20 and oecd? martin: it might not do so. it also has to get through congress, and as we know congress does not like to hike taxes, but future fiscal policies in america will be multiyear fiscal packages, just like the eu centric bond issuance that would be centered on italy. this is also a fine line between how we pay for future fiscal policies and how we divvy up that position politically. and the budget positions in each country will have to be voted on by each parliament. the g-7, g-20 and oecd may rake -- may make recommendations, but it is down to each country, and that is a slow process to deliver global fiscal policy.

and at the country level it will not be an immediate factor at all, and it should not upset markets. manus: martin, the other part of the three parts of this was about covid vaccines, the aspiration of one billion doses to the world, and we know that 600 million will be delivered. you have done the analytics, i want to know if it is priced in the markets. the weekly ramp-up of vaccine rollout around the world, i showed the charts. you made the point we are headed toward global herd immunity. my question, is that priced in equity markets and will that come to bear on the bond markets? martin: very difficult question to put to the markets. but basically, the first half of this year has been quite stellar. we are going to finish the first half of this year with 3 billion

vaccine doses at nesters. the second half -- doses administered. the second half of the year will be 6 billion. those numbers are extraordinary and i think the g-7 could be more ambitious. in biden's press conference, he basically stated i would like to do another billion but i don't want to get ahead of myself. that's where we are going on vaccines. this week, the european union is going to exceed the u.s. this week. the u.s. vaccine administration has slowed dramatically, and europe, which started dreadfully in q1, we will see the eu this week overtake total vaccines in the u.s.. annmarie: martin, thank you, you will stick with us. martin malone stays with us this monday morning. a lot of news, let's get recap with simone foxman. simone: u.k. prime minister

boris johnson looks set to announce monday that he won't lift england's pandemic curbs on june 21. johnson and senior ministers have signed up on a four week delay according to reports in the press. this as the u.k. reported more than 7000 new cases on sunday for a fifth day amid a surge in infections linked to the delta variant. apple will stop requiring customers to wear masks at some u.s. stores due to what it says is progress on the pandemic in america. staff will keep wearing them and apple was one of the first companies to close its doors as the outbreak spread across the globe. benjamin netanyahu's record young -- run as an israeli prime minister has ended. opposition parties united in a bid to end more than two years of political turmoil. the country's parliament has cleared naftali bennett to take

over with someone else in a power-sharing arrrangement. netanyahu is now vulnerable to graft charges. 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. this is bloomberg. manus? manus: simone, thank you. coming up, boris johnson set to delay the easing of england's restrictions. it is due to the spread of the delta variant. we discussed. this is bloomberg. ♪

annmarie: good morning, this is "daybreak: europe." boris johnson is set to delay plans to lift england's

remaining covid restrictions. the u.k. prime minister is expected to extend limits for up to four weeks due to a surge in infections linked to the delta variant. martin, during the break you said you thought this was a good thing, the delay of the june 21 economic lift off, why? martin: the big thing is to concentrate on vaccination. earlier in the year, it was the opposite, it was to get out as many first doses as possible. 80% of the adult population in the u.k. have their first dose. second dose is only 57%, but in a few weeks that will be at 80%. now the focus is on the second dose, as the way to combat the delta variant. infections are up 50% in a week but hospitalizations only up

15%. this is only impacting younger people, rather than older people where cases are more difficult. manus: martin, it might be some social pain in a little bit of political flashbacks or splash back for boris. when you look at the pound, the delayed reopening, many people say it might be a temporary blip on the pound. some are saying the pound have the -- has the capacity given the stupendous reopening or the uncoiled spring effect in the u.k., acta pre-brexit levels. -- back to pre-brexit levels. do you concur with that supercharged recovery in the pound? martin: yes to a certain extent. the u.k. is not our favorite economy, there are many economies around the world that

will perform much stronger than the u.k., that on a standalone basis, reopening all parts of the economy is only a good thing. on a standalone basis, the u.k. will do better and therefore the currency better, but it will depend on actions and actions from the government. they have to be quite careful what they do because there is a discussion on fiscal and they mustn't step away from fiscal easing. annmarie: wednesday you have the fomc meeting and we will hear from jay powell, arguably the most important story for the markets this week. right now the treasury market is not positioned, a slight tilt in a hawkish tone from powell. what would happen if there is a hawkish tilt in the treasury market? martin: i think the fed would not be doing their job properly if they don't discuss tapering

at the meeting. the reason i say that is if we look at the movement of u.s. treasuries this year, we started the year at 1% and we got to 1.75% and we are now one point 45%. we suffered a supply shot because the fed is still buying $120 billion of securities every month. the $360 billion of fed purchases in q2 actually caused this supply shock in the market. they will have to be cognizant of that, and it would almost be a dereliction of duty if they did not discuss tapering on tuesday and wednesday at their meeting, and they should tell us wednesday evening with jay powell. manus: martin, thank you very much. martin malone with his call on the fed and what is their duty.

coming up on the show, a united front on china. promises from the g-7 summit in the u.k. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it.

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annmarie: good morning, it is 6:30 in the city of london. i am annmarie hordern alongside manus cranny in dubai. this is "daybreak: europe." g-7 leaders take a united stand on china, president biden taking a stand, including on the belt and road initiative. boris johnson looks to delay the u.k. reopening amid a surge in

cases of the delta variant. and netanyahu's record run as prime minister has ended. opposition leaders agree to a power-sharing pact after two years of political turmoil. good morning. we are 90 minutes away from the open of european equity trading. it is all about politics wherever you look in the world. we are on the heels of the g-7 meeting, covid, china and climate top of the -- and then we have president joe biden and vladimir putin. manus: we have outlined it the past 30 minutes, climate, covid and china, trying to get a coalition. -- coalescing on this. 500 million vaccine doses from your country and 100 million from the u.k.

on china, angela merkel does not want to be seen in the final days of her administration, her legacy to the world as being the anti-china chancellor. i think maybe biden is hedging his bets on a regime change in germany. annmarie: if you talk to u.s. officials, they will tell you there hasn't been china mentioned in a communique the last few years, three years ago there was no mention. there was this year, so that is a win, but didn't go far enough that the u.s. wants to? what level can other nations fight against china given the fact that their economy, especially germany, is entrenched in the economics of what is going on in china? it will be interesting also what happens at nato, because russia and china will also be a discussion there. manus: justin trudeau also added

, he talked about contest and consistency. it was interesting, the use of these phrases. to the markets, because the fed will drive the agenda. the g-7 will drive the political along with nato, but the bond market, it would be a dereliction of duty if they did not begin a discussion on tapering, that was martin malone. it was the treasury that caused the plunge below 1.5 percent, because of the supply shock. a delayed reopening will not stop the sterling bulls. stocks up higher in europe, value trade up half of 1%, uaa calling for more oil. it's like oliver twist. annmarie: very interesting, the

oil market, it is about covid and demand, especially in america, more americans getting on flights and driving. the g-7, a crucial summit in the united kingdom. pledges on everything from vaccines to united stand against china. for more, maria tadeo is with us. walk us through what you think the highlights were from this communique and the fact we had a long communique, as you mentioned, is a highlight of itself. maria: we were looking at 25 pages signed i all of the members of the g-7, and in the years of the trump administration, there was no joint communique because they were terrified president trump would not sign on to the final conclusion. this time it was very different. this was an effort by the u.s. administration to show the world and the rest of the european

leaders but especially at the u.k., canada and japan that the u.s. is in the diplomatic sphere and back on the international agenda. the other issue is they agreed to some extent that the world needs to be fully vaccinated by 2022. there are questions around how quickly that can happen. there was also a pledge for climate neutrality and climate measures. and of course the lines on china, they say the chinese need to respect human rights, particularly in hong kong. as you said, the only perhaps point of tension is how to handle china. the united states was pushing for more aggressive language on the chinese. the europeans in particular said we can't be against something, we need to be for something. that perhaps is where the language may have been watered down. president biden said he was satisfied with that statement. manus: and of course the pivot to nato.

the elongation of multilateralism. what is the message to nato from this administration? what the americans want with nato, for nato? maria: look, it is interesting, because in the past it was very much about what the u.s. wanted, remember president trump had a fixation with at the 2% spending when it comes to gdp and the nato budget. at this time we not heard anything that looks like the 2%, you have to pay or we will leave , that was aligned by president trump. instead, it has been warned that the u.s. has a sacred obligation to nato, article five, and to defend member states that take part in nato. there will also be a strong focus on russia. this is happening right before the biden-putin summit on wednesday. a lot of countries, particularly eastern european, worried about russian deployment.

and we have erdogan, a complicated relationship with nato. president biden will probably want to throw that out, but it is not always easy with erdogan. manus: certainly not. maria tadeo in brussels tracking every move on the nato summits. let's reset and get to our guest host, it is a great deal to absorb, but when we look at the risk situation in global markets, this is what you say -- risk on music keeps playing, but the upside limited for now while growing imbalances increase the risks to the downside. set the global risk stage for us this morning. good morning. >> good morning. i think it will be a good week. the g-7 was a return to the future, a happy wedding. i hope the markets will not

crash this week. we are concerned about all of these pockets of risk because it looks like a late stage financial market. that is the meaning. but i don't know what will stop the music -- will it be the fed, ministers of finance not staying in, or something completely different? the market and for has changed so dramatically, from spacs to you name it. annmarie: you talk about in your notes, about the taxes the g-7 is talking about, the global tax rate. you say there are winners and losers. can you talk us through the top winners and losers? ludovic: it is funny, because the g-7 last week, everybody clapped and was happy about the tax deal.

but there must be some losers. we did the math and we looked at which countries will win from this corporate tax rate and which countries will be losing. ireland, hungry and brazil are among the losers, for example. -- hungary and brazil are among the users, for example. then you have the winners, there are modest winners and then clear winners, like the u.s. and u.k. and italy. it is interesting to see this deal has a second layer to which. time will tell how much it will cost. we are trying to understand what is the long-term trade-off for companies to accrue their profits in specific locations because of this global tax rate. one thing about the g-7 summit i think is interesting is the infrastructure plan.

the competitor to build back better, the u.s. is doing the same work, the same as china announced five years ago. it is interesting to say infrastructure is the name of the game. that's why i say it is the meeting of the future. we had the g-7 in turkey i think seven years ago. manus: we will get to the fed, i promise you. as i scan through your notes, you talk about green is the new black of industrial policy. we have debated this, the super cycle, the bottlenecks, though chinese restrained the commodities needed for green is the new black. give me the top line and the consequence for economics. ludovic: i think the world is not ready for what is coming. either we do with the right way

by giving forward stability to engage in transition or we overregulated. being a proud european, i share the latter, of course. i am worried europe will design something very grand to manage the transition that might not be as efficient. some of it is already in the making. the border adjustment tax and so forth. what i am thinking, if you want to be serious, it's like how you choose your sector, or the horizontal one, where you make it better. i am for the horizontal one. the right carbon price for them to make the adjustment, or we risk creating bubbles. the world cannot afford to have the green and brown. what we are saying in the paper, let's make sure we have an agreement among because as you can see, there is a huge divergence in understanding of

green in the world between the u.s., europe and china. i think we need to converse as much as possible because the stakes are high. one of these other systemic exponential severe problems, and coronavirus reminded us to tackle them now. annmarie: an important fed meeting coming up, as mentioned. there is a survey on bloomberg that says they are going to forecast potentially the dot plot shifting to 2023, but not signal the scaling back of on purchases until august or september. what is your timeline? ludovic: because i will be on holiday in august, expect everything to happen in august. [laughter] i think that is what will have imputed that is my concern. -- what will happen. that is my concern. we think the short end of the yield curve is less looked at,

there's a lot of turbulence there. 2023, powell will hold the bat until the end even though janet yellen told him let us do the job. we think they may have to announce something by the fall at jackson hole. i think it getting more details about inflation targeting, when you try to average it, but also explain if you have a next that strategy. there is the question, how do you make it happen? maybe in the fall, at the end of august, we see some change. i hope the fed can see through the supply and demand mismatch that caused this inflation, and keep [indiscernible] and of course monetary inflation. which we think are subdued long-term drivers of inflation, but we need to keep monitoring that. manus: if you can spell the word holiday for myself and

annmarie in a variety of languages -- [laughter] on a slightly more serious note, our last guest said the collapse in bond is because of supply shock. -- a bond yield is because of supply shock. i want to go to the outlier, the tail risk. could the bond market be telling us something much more malevolent, that spike from stimulus, the bear case, maybe the bond market is telling us we have to worry about a sharp slowdown in the u.s., that is more worrying about 3% inflation. what do you make of that as a tail risk? ludovic: i agree. i think inflation expectations normalized. everyone is concerned that after the growth we are seeing now where the u.s. is growing almost 10%, that 2022 will be back to

normal and none of the stimuli will have lifted growth in the u.s. i agree this is a possibility. the supply and flow stories are fine, but i think it is a financial expectations story. the market has been reacting. now there is normalization. they also demand normalization. the second derivatives are turning negative everywhere. annmarie: thank you so much, enjoy your holiday this august. [laughter] manus: we don't go on holidays. annmarie: i think manus will get on holiday before i do. shifting gears, the nord stream 2 pipeline has been a divisive issue between the u.s. and european powers for a long time. now as president right in meets with european -- president biden needs with european leaders, it is finally coming to a head. >> president biden is meeting

with dozens of heads of state during a tour of human -- of europe, colonizing -- culminating in a meeting with president putin. there is one topic that is of interest to many in europe. >> nord stream 2. >> as germany moves away from coal and nuclear, gas demand will search. pumping 55 million cubic meters of russian gas every year, nord stream 2 was supposed to be part of the solution. geopolitical concerns and questions around the climate impact of lng have worried some. >> i've been opposed for a long time. >> ultimately it is in contradiction to the eu's own energy security goals. >> germany is making a tremendous mistake by relying so heavily on the pipeline. >> is not only a political

threat, it is a geopolitical threat. >> the project is owned by a russian gas giant, with five european energy companies as investors. originally supposed to come online in 2019 sanctions delayed the nine point i've billion euro project and caused some insurers to pull out. in may, the biden administration weighed some sanctions on nord stream 2. >> we have finished laying the pipes for the first part of nord stream 2 and advancing on the second. >> the u.s. sees any prospects of stopping nord stream 2 increasingly remote and angela merkel is due to go to the white house in july to discuss the division between d.c. and berlin on the project. while tests will be run on nord stream 2 over the next several months, the german green party could also erode domestic support for the project.

as the eu aims to be carbon neutral by 2050, even if nord stream 2 comes online, it might be the last pipeline of its kind in europe. manus: coming up, benjamin netanyahu is unseated on sunday. that after 12 straight years of power, gone. the story on bloomberg. ♪

annmarie: 6:15 -- 6:50 in london. manus, benjamin netanyahu has been unseated after 12 straight years in power. he also served three years at the end of the 1990's. sylvia joins us for the question of is this the end of yahoo! -- of netanyahu?

sylvia: it is the end of his 12 year stint. the vote is cast. he has pledged to make a comeback and he is still israel's most recognizable politician. he also put forth a strong incentive to come back to power, and in that position shielded him from an ongoing corruption trial. for now, he is out. there is time, but it looks possible he could try to stage a comeback, especially if weaknesses remain in the governing coalition. manus: it really is a spectrum of a coalition, isn't it? how long can it last? eight parties only united by their dislike of intimate netanyahu. sylvia: that's exactly right, it is a governing coalition with the slimmest of majorities, 61 out of 120 seats, it takes just one rebel to throw things into

chaos again. i guess if you look at the coalition agreement they signed, they talked about as they would focus on, things that would unite them, including infrastructure, investment in the health system, and looking at those kind of democratic issues. once they start to edge into things like foreign affairs and securities, you will start to see some difficult decisions and real tension. manus: sylvia, we will track every twist and turn. sylvia west all with the latest on israel. coming up, elon musk approves bitcoin again. another tweet about the cryptocurrency. details to come. this is bloomberg. ♪

manus: this is "bloomberg daybreak: europe." to bitcoin. study this morning, it jumped above $39,000 thanks to elon musk. joining us to discuss the tweet, dani burger. what is the latest message from gandalf? [laughter] dani: there is a bitcoin move and elon musk tweets are never far behind. he wants to put tesla's ability to transact with the coin back on the map. assuming we can get around 50% of clean mining from bitcoin. estimates are not that far from there at the moment, 30%-40% estimated at the moment. but really, we have to keep in mind we are so far from those highs bitcoin has posted when tesla first started accepting bitcoin, we are 40% off still.

tesla accepting it coin again or promises of it is not likely to move the map too much at the moment. elon musk has been such an arbiter of sentiment for bitcoin, it really fuels the conversation or at least brought it to the four in terms of -- of the fore in terms of environmental impact. it could have a significant impact. annmarie: he is the ceo of a massive ev company, it make sure he wants -- it makes sense he wants clean coin money. thank you, dani burger. we are about an hour away from the start of european equity trading. seeing green on the screen. really, what is this about this week? what the f moc delivers or doesn't deliver. manus: absolutely, that's what martin malone has said. anna and mark will take you through the next hour. this is bloomberg. ♪

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>> vaccination, vaccination, vaccination. is it going to be vaccination only for the wealthiest countries or are we going to generalize it? >> good morning. welcome to "bloomberg markets: european open." i am anna in london. mark cudmore joins me in singapore to take us through all of the market action this hour. the cash trade is just less than one hour away. g7 leaders have shout a compromise on china. president biden's week moves to nato. and an encounter with vladimir putin. boris johnson looks set