♪ annmarie: good morning bloomberg's european headquarters. i'm annmarie hordern. this is daybreak europe and here's what you need to know. covid cases surge in the united kingdom. the most infections since february. 80% of adults have had the first vaccine dose. investors unwind reflation bets. the treasury curve sees its biggest flattening since march

of 2020. futures are higher. iran heads to the polls. voters to replace the president with a hard-line conservative, come looking efforts for return to the nuclear deal. very good morning to you. the 6:00 in the city of london. it's my final show in the city of london. let's check on where we trade. yesterday, all the action in the u.s. treasury market. we are seeing the lowest level since february. you heard the treasury curve, the selloff's biggest we've seen since march of 2020. it begs the question, if the reflation trade over? the nasdaq futures this morning up 2/10 of 1%. the dollar is a little bit softer. relatively flat. it is stopping its five days of gains. we are seeing a narrative of a stronger dollar.

we are seeing a diversions in the commodity market. copper, soybeans getting software. crude oil higher. after this week's fed meeting, investors are starting to unwind some of this year's most dominant reflation trade. the biggest two-day narrowing of the treasury curve since march of 2020. joining us to discuss the markets is dani burger. take us there what's happening. rarely, a difference between wednesday and thursday is what traders are looking at. dani: a huge difference. both days have the old to mid effect of flattening the yield curve. the gut punch reaction on wednesday is vastly different than what we saw yesterday. wednesday, you get this bear flattening. the long end of the curve frozen while we get that shorter end of

the curve with the reaction. we will perhaps have to deal with higher rates. you get that lift up in yields. yesterday, we see the long and yields absolutely plummeting. that's when you get to the biggest flattening since march 2020. the our is back in. they now have the green light to go back in and buy these types of duration assets. this is not just about dots on a plot. perhaps now we can trust the fed as an inflationary fighter. we have to do this major unwinding of prior bets. is the fed behind? now the market is behind and having to play catch up with the fed. the u.s. is the first shop on the block to reopen. now you have foreigners looking at the u.s. for that region. that's why we thought the dollar took off in the past two days of action. annmarie: not so good for you and i, the dollar, americans

being in london. square this for us in terms of the equity market. we saw money move into the tech trade. does this mean that the rotation is over now? dani: it does feel like the equity market and the bond market are in slightly different places. they are both acting the same way because duration is back in. we both know that tech is hit so hard when it looks like that play would be under pressure. in the same vein, with the equity market, long-term growth is the play. that's why growth stocks are doing better. that's why the nasdaq is looking stronger. but the yields are telling us something maybe different. that long-term growth isn't where it's at. it's that inflation in the beginning, the first couple of years here, that the fed is going to go on to fight. it is definitely a strange

needle that markets have to thread. everyone throwing out there playbook. of course, the good news for you was a stronger dollar. you are going back to the u.s.. that is bad news for me and everyone else here. we will miss you so terribly. good luck with everything. annmarie: [laughter] dani burger, i love that. we will have to catch up stateside. thank you so much for the complete outlook on what's going on in the markets. simon keanu evans -- simon quijano-evans. we are seeing the playbooks being thrown out in the air. what do you make of what we saw wednesday and thursday across the yield curve? simon: a new curve -- congratulations on your last day. it's a privilege to be here with you. on the yield curve, i'm surprised that the markets. we only needed to dots to raise the medium level on the dots to

a hike. now we have 1.5 22 hikes. these are all individual assessments of individual fomc members. they are not a discussed round of rate. it's very clear, if we look at the new curve, we've had the reaction on the upside because it was a shock to the markets. and then we came down. over the next few months, we will have markets going up and down as far as yields are concerned. 30 years, we could leave for later. the tenure will be moving up and down. the fed has to do something. the fed needs to tell us why nonfarm payroll numbers are so low. that's the main thing out there. annmarie: is long-duration buying over? simon: i would say, be careful on the tenure. don't get faced by the moves that we've had in the last few days. tangentially, with all the

spending we will see over the next few years from out of the u.s. government, i think duration or the yields on the long and are heading further north. i think that should be a trade over couple of years. the biden administration has said fairly clearly that they want to spend their way out of the crisis. they learn from the 2008 crisis. you've had former members, people like larry summers and misses yellen herself, who said that there wasn't enough spending. that's why we are seeing all of this happening now. annmarie: this points to what's going on with the dots in terms of the treasury yield curve. what about asset purchase buying? barclays is moving it up. they say there will be an announcement in september and we will see the tapering in november. what's your timeline? simon: yeah.

i would not be surprised if we see something in q4 with the tapering. let's face it. the next oh fmc meeting is on the 28th of july. you have nothing until late september except for the jackson hole. jackson hole meetings will be the ones where we see more debate about what's going on with an fts and the labor market. if the fed doesn't do it in july, talk about a tapering plan, we have a long way to go until september. maybe we will see something coming out of the end of july. annmarie: what about the dollar? does this cement dollar strength from now until years and? simon: the u.s. treasury yield curve in q1 was really driven by vaccines, the vaccine drive in the u.s.. the european union is now catching up with the likes of the united kingdom as well on the vaccine front. i think this is very positive. those things are driving euro-dollar dynamics. if we look at the future, a fed

that is more proactive on that front, one would tend to think that the dollar would strengthen on the horizon. that's good for you. annmarie: [laughter] it is good for my move. i do have some savings here. you mentioned the vaccines. sitting in london, it's worrisome this morning. yesterday, they announced 11,000 cases. there's a new milestone on the vaccines. the cases continue to rise. we could have another wave in the fall. they've already pushed back the reopening. will we see more lockdowns this winter? if this is in the united kingdom or there's access to vaccines, what's the risk for the rest of the world? simon: look, as you say, this is a reminder to all of us that this has not gone by. if we continue to vaccinate the world at this rate, we will need about 300-9400 days to immunize

the whole world. we have a long way to go. to me, the big question here, this is what media should be asking, why vaccines aren't being mass-produced everywhere? why production facilities haven't been strategically placed across the world to produce these vaccines en masse? not even if you don't have to give away the licenses. even if you give those production facilities to the likes of pfizer to produce these vaccines, that has to be the number one topic out there and the number one drive that we have. the thing here is, on the variance that we are seeing, the main thing is to get the vaccines out there that can deal with these variance. these mutations will be around for a long time. what we need to do is fight it as quickly as possible and make sure that the traveling patterns also are in line with that. countries where there are higher

variance, one has to be more protected. that's why some eu countries are saying, no flying out of the u.k.. annmarie: do you think the g7 said enough in terms of the vaccine rollout for around the world? simon: no. i don't. honestly, if we look at the rate that we have now, we need about 6 billion more ptosis to be produced to heard immunize the rest of the world. russia and china will use their own vaccines. the one billion that we are talking about over the next 12 months is nowhere near enough. we need to mass-produce vaccines. africa is going through the next wave. you can see a clear pickup and infections in south africa. as we've seen in the past, what happens is that these variants

start to pass into these countries. we need to see g7 and g20 focus on vaccination, vaccine production. there's no other way to get out of this mess. as an economist, i know that fully and so does everyone else. annmarie: yeah. at -- the longer it takes to vaccinate people, the smarter this virus gets. it's a great point. simon quijano-evans. let's get a recap this morning with annabelle droulers. good afternoon. annabelle: thanks. a spike in u.k. cases, recording the most that we've seen in a day since mid february. this comes amid warnings that the current wave is driven by the highly transmissible delta variant. it may be weeks from peaking. more than 11,000 you -- new infections reported thursday. president joe biden signaled a bill making juneteenth a federal

holiday to mark the end of slavery in the u.s.. most government employees will be granted paid leave friday. juneteenth commemorates june 19 18 625 when union soldiers brought news of freedom to galveston, texas. ♪ >> we come together as democrats and republicans to commemorate this day with overwhelming bipartisan support in congress. i hope this is the beginning of a change in the way we deal with one another. annabelle: global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. ♪ annmarie: thanks. just ahead, we had to beijing. the shopping festival kicks off. the big test for china's consumer driven recovery. that's coming up next.

this is bloomberg. ♪

♪ annmarie: 6:15 in the city of london. very good morning to you. bank of america is optimistic about the u.s. are covering, forecasting a faster pace of growth than the fed. we spoke to the ceo. >> if you look around the world, central banks will struggle as to win the viruses behind us. at the end of the day, that's the determinate here. if you think about what india went through, the u.k. delaying the full reopening because of the variant, that's a great question. think about u.s. vaccines throughout the population. will the variant affect us? pay attention to the vaccine. the second question was the dot

plots. there's great debate on the value at this point. there were put in for a different purpose. the fed's economic projections this year are 7%. next year, mid three. the three is 7%. bank of america securities is at five. if you believe the street and bank of america are more right as you move through the year, the economy is growing much faster than it was, with much more fiscal stimulus to be spent . much more opportunity for the economy to round out and grow. that is something people should pay attention to. if those economic growth predictions move, those dot plots will become uninteresting. they will have to move because things will be moving faster. think about 2019. same fed, same chair, different people, same research department. they were sitting there with 2%

plus fed's rate. economic project of forward growth was 2%. unemployment in the threes. about that and where we are now. three times the growth rate projected. a fed unemployment rate projection in the low threes by the end of 23. high threes by next year. low force this year. what was the only thing concerning them in 19? wage growth. that will be an interesting tug-of-war as this thing normalizes. annmarie: now to beijing. the shopping festival kicks off, a big test for china's coner tom mackenzie is live right now inside of jd.com's headquarters. what our sales looking like so far. i'm not so familiar with 618. tom: let me give you that.

two weeks from today, china will be celebrating the 100th anniversary of the founding of the chinese communist party. today, they are celebrating this shopping extrinsic anza -- traffic answer. midnight tonight, we will get the top line in terms of sales. it is the second-biggest online shopping festival after single'' day. far bigger than black friday that you might get in the u.s. or any of those new year's day sales in the u.k. by a long way. transactions last year, 42 billion u.s. dollars. they are hoping to eclipse that this time around. we will be seeing how investments in livestreaming and pushing into smaller towns across china will help. international brands taking the top spot. look at spots 1-5 in terms of the fight of it -- favorite items. apple. voltswagen. they are selling cars online

here. at a time when regulatory scrutiny is increasing in china for these e-commerce companies. geopolitics as well. never far away. h&m is still blocked on jds app because of comments they made about forced labor. that's all part of the mix here. annmarie: very interesting. things for joining us. he's live in beijing, tracking the numbers from this massive 618 shopping day. let's get back to simon quijano-evans. china's export economy has done very well. it's the domestic consumption that's a little bit more worrisome. look at some of the numbers. is that a concern for you? simon: i think we will see so many ups and downs, given that we had low base affects in q1 last year. china got out of this virus about one or two months before the rest of the world. they strive allies.

while the rest of the world will be growing from here, you may see some stabilization in china given that they've had that massive recovery. we see that in metro prices, in all types of commodities already. i'm not really so concerned. the main thing is that they keep the virus under control and keep those infections under control. annmarie: i'm glad you brought up commodities. they are trying to buy this up. a little bit of a lid and inflation. we've seen a spike in prices but it hasn't been passed onto the consumer. what china is doing, is that the right approach to control some of this inflation? simon: china controls everything. from their point of view, it's the right approach. [laughter] they do have plenty of stocks. we don't know how much it is. they do have plenty of stocks and commodities.

china has to fend and provide jobs for about 1.4 billion people. let's put that in perspective. that's a huge task. any policy move that they make to try to stem price gropes -- growth is the right approach. annmarie: thank you so much for joining us today. simon quijano-evans. enjoy your weekend. just ahead, almost a million people have left the workforce do to menopause. how companies are failing to provide support and the cost of the economy. this is bloomberg. ♪

♪ annmarie: good morning. this is daybreak era.

almost one million women have less the workforce in the united kingdom due to menopause related reasons according to a 2019 survey. this has real economic and financial consequences. data finds that productivity losses can cost more than $150 billion a year globally. for more on this, linzie burton joins us now. we know this has had massive impacts on women. we also know it's a big issue for the economy. >> the numbers has been ballooning. they are climbing into more senior positions. it's no surprise that the bank of england says that menopause is an issue that simple he cannot be ignored anymore. they found that three in five women were negatively affected by the symptoms at work. they include hot flashes, mood swings, loss of sleep, all of which affect productivity. not only that. almost a million women have left

the workforce because of symptoms. this is a huge preventable loss of women at the peak of their experience that feeds into the gender pay gap. in turn, into the gender pensions cap. annmarie: what do companies need to do? how are they trying to provide support for women? >> i had a great conversation with the ftse 100 leader about her experience with hot flashes. she's 45. she is open about her experience with menopause. she says talking about it is the way to break down stigma about it at work. that's why it was one of the first companies in 2018 to introduce menopause education. since then, it has facilitated workplace adjustments like funds, better access to washroom facilities, flux will hours, or small changes that make a big difference. annmarie: i'm so happy you research this story. it's not talked about. i've spoken with executive women's, speeches they have to

give, dealing with these problems. it's a taboo conversation at work. we know that the pandemic, a lot of them have been working from home. has that shifted anything? lizzy: you might think that the new emphasis on flexible working and health would have alerted employers to the need for menopause awareness. working from home has helped some women to manage their symptoms better. for others, the uncertainty has exacerbated the psychological side. for women and public facing roles, which are dominated by women, health care, retail, often they've had to wear ill fitting ppe that is designed for men. it has made their hot flashes worse. the resolution foundation found that women in their 50's were worse affected by this crisis than any other since the 1980's. you have the direct effect on health and the economy. also, the indirect effect. menopause has slid down the agenda for many companies

because all they've been able to focus on for the past 60 months has been survival. annmarie: thank you so much. an important story. just ahead, the iranian election. this is bloomberg. ♪

♪ annmarie: good morning. from bloomberg's european headquarters, it is 6:00 a.m. in london. i am annmarie hordern. covid cases search in the united kingdom with 11,000 daily infections, the most since february. 80% of adults have now had their first vaccine dose. investors unwind reflation bets with a rally in u.s. tech shares.

the treasury curve sees its biggest two day flattening since march of 2020. futures higher. iran goes to the polls. a hard-line conservative complicating efforts returned to the nuclear deal. good morning. 90 minutes away from the start of european equity trading. this is where we trade this morning. all the action yesterday with the long end of the u.s. treasury curve in the 30 year. the yield dropped to the lowest we have since february. is the reflation trade over? you saw a lot of money move into the nasdaq. euro-dollar rose. it did drop after five days of gains. everybody was throwing everything out of the window, except for u.s. dollar. that has been part of the commodities story as well. we are seeing a divergence in the super cycle trend, but also the fact that we have a higher

dollar is starting to unwind some of these commodities, copper, for one. we will be looking at all of that throughout the day, especially as we go into next week. today, a big story is happening in the middle east. iranians are voting in a presidential election, expecting to see a hard-line conservative replace rouhani. disqualified candidates back to greater engagements in the united states and european union. talks continue in vienna to revive the nuclear accord. ♪ >> he's been the face of iran for the last eight years. as an architect of maintaining dialogue with the west, hassan rouhani having served two terms, cannot run for reelection. seven candidates out of a pool of nearly 600 have been approved by the country's guardian counsel to run. the front runner is a hardliner.

he is also a cleric and the head of iran's judiciary, the main challenger to rouhani four years ago, he's mostly supported by religious, working-class voters. he is believed to be the favorite of the supreme leader. he is linked to mass executions in iran and has been sanctioned by the u.s. government. the pragmatic conservative figure and former chief nuclear negotiator was barred from running by the guardian counsel, to most people's surprise. at stake, the reopening of iran's economy to the world. following iran's nuclear deal 2015, many western companies reestablished links with the country. trade ties between iran and eu countries grew steadily from 2015 until former president donald trump withdrew from the agreement ni 2018, re-imposing sanctions.

since then, most of these ties have evaporated. though china remains their biggest partner, it's trade with iran has been cut by over 60%. last year, iran was only the eu's 55th biggest trading partner. iran's gdp contracted over the last two years and only a modest rebound is expected for the current period. since joe biden's arrival at the white house, tehran has been in talks to revive the 2015 agreement. it would allow arranging oil to flow again into markets -- iranian oil to flow again into markets. annmarie: joining us now is esfandyar batmanghelidj, european council on foreign relations visiting fellow. thank you so much for joining us the day that we see iranians going to the polls. i wasn't tehran for the 2017

election. it was pandemonium when hassan rouhani showed up to vote. voters were lining up around the blocks to vote. this will be potentially one of the worst voter turnout in the history of the country and we will see the hard-liner take power. is that your base case? esfandyar: that's the very fair expectation. pundits have been saying for a while that this election would favor hard-line candidates. april predict -- a poll predicted he will win this election on the basis of 77 percent of the vote with a 53% turnout. voters are apathetic after three years of a really difficult period economically, both because of sanctions and the

pandemic, and they increasingly feel disenfranchised. annmarie: what does this mean for the nuclear deal? we have the talks in vienna taking place. there is this temporary monitoring path that the iaea was able to get with iran. that expires next week. at the same time, potentially we are going to have a hard-line government come in. where does it leave those talks? esfandyar: i would not worry too much about the outcomes of the talks. the strategic logic for iran having the u.s. reenter the nuclear deal at restoring the deal in full remains very strong. the decision to pursue nuclear talks is a decision takien at a consensus level with an input of bodies. it is not really the prerogative of the hard-line president to change course. he has come on and he has said he supports that you. where we will face a challenge

-- supports the deal. where we will face a challenge is that the biden administration and other parties in the jcpoa work hoping that reentry into the deal was something that they could build upon and to pursue a more for more agreement with iran, which is also important for iran to get a broader set of sanctions eased. the government wants it, sort of has the nuclear deal back in place, addresses some of those immediate points of tensions around the economy and the diplomatic relationship with the u.s., it's not going to feel a lot of inclination to going for that more for more agreement. and so, what we are seeing is that the nuclear deal may be still in an ok place, but the overall trajectory for diplomacy will change if he prevails. annmarie: ok, so if they are not looking for more engagement beyond the jcpoa that the united states, what do they do economically? this economy has been absolutely

battered due to the sanctions. esfandyar: i think there is a little bit of confidence among iranian policymakers that the worst is behind them, economically speaking. iran's economy is actually growing again after nearly three years of contraction. inflation is slowing and the currency has been remarkably stable for the last nine months. the problem for iran is that the recovery is not strong enough so that ordinary iranians who were hit really hard and really saw a drop in their living standard in the last three years would reasonably expect that they are going to be able to catch up, to clawback to where they work given the strength -- where they were given the strength of the economy. the economic anxiety that iranians face will remain. perhaps from a strategic standpoint or from the standpoint of negotiations, i think the difference is that the iranian government no longer perceives that it must engage in

diplomacy to arrest the economic crisis in the country. the crisis is somewhat passing and really what we are looking at is the extent to which diplomacy can take place to really get iran back on that growth trajectory that we saw in 2016. for this new government, they are likely going to make a trade-off where they will be happier with lower levels of growth, if that means lower levels of engagement. i think that is the real difference we will draw with the situation in 2016. annmarie: what about relations within the region itself? as a hard-line government going to shift those dynamics within the middle east? esfandyar: well, that's one of the few areas where there has been some positive developments. we see iran engaging in dialogue with saudi arabia for the first time in a number of years with talks happening very quietly and baghdad. we see increased dialogue with the uae and generally an effort

to lower the temperature and try and find a new kind of motors to vandy after several years of really quite dangerous sets of escalations and conflicts in syria and yemen that have led nowhere. i suspect that a new iranian administration is not going to squander the opportunity to come up with a new kind of understanding among these regional players. and to sort of participate in some kind of regional diplomacy. the question is, who will be in a raisi cabinet? who will be the foreign minister and to what extent will they be affected in participating in that dialogue? iran has had the benefit of a very effective top diplomat over the last eight years, who has been quite successful, both in the regional context and in sort of engaging with the international community. there is no guarantees that they

will have someone that effective going forward. i think that is where the questions lie. annmarie: esfandyar batmanghelidj, thank you so much for joining us. manus will have you back on next. he is from the european council on foreign relations, a visiting fellow. those elections are happening today. up next, we are speaking to the man who quit his career as a racing driver to become a green technology investor. only five days after becoming formula one were champion. nico rosberg joins us next with matt miller. if you have any questions for him, i am sure a lot of you do, please ask on the terminal. this is bloomberg. ♪

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>> i completely share the position of the chancellor here. she said in the munich security conference that you cannot tell after gas is being transported by land or by sea. the difference is the geopolitical security of ukraine and we have to pay attention to that. annmarie: the front runner to follow angela merkel talking about the controversial nord stream 2 pipeline. staying in germany, as a formula one driver, nico rosberg achieved 23 grand prix victories and won the world championship in 2016. five days later, he retired and embarked on a career as an entrepreneur and investor, focusing on sustainable mobility and green technologies. who better to speak with him than matt miller in berlin? matt: [laughter] thank you very much.

nico rosberg is here, world champion formula one driver, of course, but now, green tech investor. he founded the green tech festival in berlin. thanks very much for joining us. before we get to the business, i wanted to talk about the politics of what's happening here. you work very closely with the german politicians to set up this conference. the green party must be especially near and dear to your heart because of the direction in which you are investing. they have, they came out really with a lot of force here and have dropped a little bit in the polls. what do you think about the importance of the green party in germany? nico: we remain absolutely neutral. the green party leader made some mistakes, unfortunately, which is a bit surprising. for us, think the great thing is change in general, i think any of the two as new leader ll bring in a new dynamic, bring change. the german public is demanding

more environmentally friendly decisions, more aggressive steps to protect our future real a this is positive. matt: let's talk about the green tech festival here. it is the third year for you to do it. what kind of investors are you bringing together and what is your name? nico: the green tech festival, we bring together some of the leading changemakers in this world, the leading green technologies are being showcased, everything together in one event in berlin every year. for example, this year, we are welcoming robert redford, jane goodall. last night to finish a conference, brian adams performed for us and wrote a song for us based on sustainability. it was like goosebumps. matt: very cool. you have invested in businesses that are working now. lyft, for example. nico: tier. matt: tier is fairly new, but

immediately swamped of the streets. i did a racing competition with my cameraman in frankfurt a couple of months ago. it's the fastest of the skidders. what do you think is the -- scooters. what do you think is the endgame for the skidders? -- scooters. nico: the tier has done a phenomenal job. the founder is from berlin. there was a time when the competition was so vast and all the americans had already come to berlin. there was american scooters everywhere with bird and a lime. tier, they were operatively so excellent, so efficient. they were progressing really fast and really convincing investors, the big players, softbank financed the last round and tier now has the best product. they pioneered vulnerable

helmets. they pioneered -- foldable helmets, swappable batteries. the users get credits if they swap the batteries. it is really phenomenal. matt: when do you start to exit these businesses? you have invested in a lot. what does your exit look like? nico: i really look at the, i go for a long ride, i don't think straightaway of exit because i am proud to be part of the journey to change mobility for good. you touched on one of our two leading flying taxis out of germany. they just merged with a spac. 3.5 valuation at the moment is being expected, so it's an exciting time. i might just stay on board because i believe in these solutions to really having the potential for a vast impact.

the flying taxi to the new york airport will be $70, 10 minute flight. matt: which is, by the way, almost an unsolvable problem when you're faced with a jfk to newark. we just saw some formula-e videos. how is that doing? as a spectator, i love the sound. when i watch these races that do not have any sound, moto-e in motorcycle racing, it's a very different experience. nico: you are a petrol head, i can see. we have to accept that in change sometimes, there's a little bit of compromises. one compromise is sound but there's so many benefits. it's a way to go. i am an early investor in formula-e as well. they've created a new championship model called extreme e where we are racing with electric cars around the world. i've got a team. i am racing louis hamilton's

team. it is wonderful. matt: let me finally ask you about something that caught my eye recently, naomi osaka, the world's number two women's tennis player, pulled out of the french open for mental health reasons. should not -- she did not really want to do the press. a lot of people have had these issues, in racing as well. there have been instances where drivers with incredible promise and talent just did not want to do the press. what do you think about that and the mental health issues surrounding athletes? nico: it is underestimated how difficult it is in that environment to be judged by hundreds of millions of people and by the press every step of the way, whatever you are doing. it takes its toll, especially when you become the best and you start winning and the expectation is, ok, you've got to continue winning.

if you come in second, what's going on? we got an extreme example now with coco gauff as well. she is now 16 or 17 and people are already expecting her to dominate now. if she does not make it to the finals, people are already sank, just one more of these young hopefuls who are never going to make it, and that's hard. that's why mental health is a challenge, also in sports, also in politics, also for rock stars, as we know. just because there is so much expectation from every step of the way. matt: great to get some time with you. good luck at the festival. nice to catch up with you every year. hope this festival continues. nico rosberg, formula one world champion, of course, but really now, green tech investor. annmarie: great interview. he is right, you are a petrol head. i have been in some of those cars with you. i think sometimes, you are a

little bit of a race car driver. i like to take on mental health. >> a really important issue. annmarie: certainly. it's a good point to bring up. thanks for that interview with nico rosberg. the u.k., speaking of the pandemic, recording the most coronavirus cases in a day since mid february. we discuss the concern over the delta variant next. this is bloomberg. ♪

♪ annmarie: good morning. i am annmarie hordern in london. the u.k. recorded the most coronavirus cases in a day since mid february, warning that the current wave of infections may still be weeks from p eaking.

with me now is tim roth. these numbers are quite worrisome. what is the government saying? >> the government is giving itself as much time as possible, i think. another month they have delayed the end of the lockdown restrictions. that was due to happen on monday. they want to make sure as many people as possible get that vital second dose of the vaccine to defeat this delta variant, which is the big ongoing risk at the moment. annmarie: what about the autumn? if this is going on in the summer and it's very hot out, what happens in the fall and the winter? tim: that is clearly a concern as well. i think that we have the chief medical officer talking in the last 24 hours saying that this rise in infections is going to lead to more hospitalizations and deaths, that there is likely to be another surge in the winter, too. that's going to be an issue that

the national health service is going to need to contend with. the government is hoping that by that point, the country will be fully vaccinated. annmarie: very quickly, what does it mean for potential travel corridors? tim: the government has been looking at this. as we reported yesterday, officials are weighing whether to ease the rules for those countries on the amber list. you have to quarantine for 10 days if you're coming back to england from a country on that list of destinations. the government is considering that if you have all your doses, you could potentially not leave o quarantine. it depends on that vaccine program being a success. annmarie: we will see whether or not they take it steps further and introduce some sort of vaccine certificate or passport. tim ross, thank you so much for the update. that is it for "bloomberg daybreak: europe." that is it for me. it's been an absolute pressure -- pleasure spending my mornings

with you. london will always be something of a home from. continue the conversation with me as i go to washington. the european open up next with anna and mark. this is bloomberg. ♪

♪ anna: good morning. welcome to "bloomberg markets: european open." i am anna edwards live in london. mark cudmore joins me in singapore to take us through the market action. the cash trade is less than an hour away. here are your top headlines. investors unwind some reflation bets with u.s. tech shares rallying. the treasury curve sees its biggest two day flattenin