>> you have to box with some conviction. you need to look at the medium term and hold that line. >> is a very standard correction here. >> we could go quickly into recession. >> this is bloomberg's -- this is bloomberg surveillance. jonathan: from new york city for our audience world wide, surveillance live on tv and radio. futures are down about 1/10%. progress in ukraine talks less than we would like. lisa: how often have we gotten these tit-for-tat headlines. there has been less progress made with the kremlin leader and no one is taking it at face bill you -- at face value and no one is taking it seriously anymore. jonathan: just a little whisper

from the eu foreign minister, energy sanctions could be on the table for the europeans. lisa: if there's going to be a fifth round of sanctions, is left to sanction that can bite. germany came to some agreement with cutter to get some natural gas supply rather than relying on russia. how much is that of free cursor to that taking a new turn. jonathan: great to have you back in the seat. >> we heard the likes of christopher waller to sing maybe a 50% rate hike could be on the table in the next meeting. they are calling for 50 basis points on fed fund rates. kailey: it will be interesting to see how the fed earned president response. jonathan: german howell last week, maybe you walked away

thinking that was a hawkish conference. what would you conclude? lisa: that he was basically dovish and moved away from certain kinds of tightening and restrictions. i heard the federal reserve that was willing to risk the soft landing and he's coming up in this hour. how much is that a relief to markets? i don't understand it all stop jonathan: we just had the guest week of gains so far on the s&p. the nasdaq is down around 1/3 of 1% stop crude is heading north as well. the move in yields is just a little bit of inversion coming through. lisa: this goes to the brian weinstein point of how much we are seeing the fed willing to risk a soft landing at a time when you see inflation getting

around the precipice and this is the fear and what we expect to hear from a number of fed speakers including the atlanta fed president who is speaking around 8 a.m. and the key event, fed chair jay powell speaking at noon at the national association for economics in atlanta. how much will he talk about the fact that we see people piling into longer-term rates at a time when others are saying we have to confront inflation for a longer time to stop this indicates the potential of recession. we get that discussion president biden is holding with emmanuel macron and olaf scholz and mario draghi. they will talk about perhaps a fifth round of sanctions. what do we get out of germany in terms of further sanctions and oil and gas? how much do we hear about the threshold as well as their

supplies to ukrainian troops to fend off the russian attack? this is interesting, treasury secretary janet yellen and jake sullivan our meeting with a slew of business leaders including exxon, conocophillips, bank of america, agriculture, manufacturing sectors to talk about sanctions and ramifications according to sources. how much they focus on trying to jog the price hikes down for absorbing some of the cost. we see this when consumer sentiment is falling to the lowest levels since 2011 and we will get the latest read on friday. jonathan: what do you think that meeting is about. lisa: i think it's about increasing production for commodities and it comes to not try to price gouge so how much they say you cannot have these margins and be hiking prices and how much they talk about what further steps they are techie --

taking. how much it prohibits certain businesses and a lot of uncertainty remains. jonathan: thank you, i'm looking forward to the reporting around that. let's talk about a single name in free markets, owing is down in early trading, off by more than 7% stop kailey: this is after a crash in china with the jet caring more than 130 people crashing in a southwestern province. this is the 737 800 so the red assessor is the 737 max. the max jet has not returned to commercial service in china since those crashes we saw several years ago so it's a sensitive time for boeing. is not the same jet but this is a tragedy on a massive we don't know about the casualties but we will continue to watch that developing story. team coverage starts right now.

a little bit later, european leaders will have a conversation with the president of the united states. how important is that call? >> this call is looking to proceed a nato summit on thursday. a lot of this has to do with the preparation for what we've seen of a big diplomatic push in europe. a number of issues they will tackle has to do with ukraine but it also has to do with security guarantees in europe and the biggest question of all, what happens to energy? lisa: what is the latest in terms of russian progress? they said they would use hypersonic missiles and many european leaders are downplaying that. what's your interpretation? >> for many officials that have

spoken behind the scenes, they tell you if you look at the situation on the round, this invasion is stuck in russia is not made any gains over the past week but a lot has to do with the local population to show the damage they can do. if you look at the spirit on the ground, have they changed anything? the russians and 1130 a.m. local time in moscow giving and ultimatum to the ukraine army. this connects the crimea to the dumbas. their weapons and ukrainian said that won't happen. in terms of the spirit of this army that has been fighting for 26 days, not a lot has changed. lisa: we were talking about the off the record call that the president is holding with business leaders. how much is this preparing for the next round of sanctions and how much is this trying to get

ahead of the price increases that are crimping soup -- consumer confidence? >> this comes at a time when the administration has been asking oil companies to pump more. also, criticizing them for giving more money to shareholders and not investment. we seen a 180 from the administration and how they deal with the oil companies and they are trying to make sure the oil companies have a robust investment because they need more oil and gas in this country because of what's going on with russia so i think that will be part of it and the fact that there will probably be a discussion how the entire decoupling from russia, a massive commodity country, is just reeking havoc on supply chains as well as moderating prices across the board. kailey: when we think about diversifying away from russia, it raises the question of opec step how is the relationship with the saudi's evolving do to

what we are seeing playing out in the separation with russia? >> united states would want opec to be pumping more. part of what makes it difficult is because it's not just saudi arabia. there is a partnership and the defector leaders of the -- of the opec side. saudi arabia is really the only country that can turn on the tap and it impacts the market almost overnight. that is why you see the administration calling on them. at the moment, they are just not there to want to turn on the tap with issues that make this the reason. they want to see how much oil output out of russia will come off and if there is going to be in iranian nuclear deal. they will not want to turn on the tap and see the market except iranian barrels. it's an interesting moment for the gulf especially prime minister boris johnson going to saudi arabia.

over the weekend, the economic minister from germany which doesn't have lng terminals but going to the uae come another massive oil exporter, they are trying to shore up the supplies to loosen their grip on russia. jonathan: thank you as always. looking forward to catching up later. she will sit down with the latvian defense minister. this line from the lithuanian foreign minister. it is unavoidable to talk about the energy sector. it feels like maybe we are leaning in that direction again. lisa: there has been so much castigation of germany and their reliance on russia. and a even a me a couple from german officials over the we can sing how could we have done this to ourselves? how much are they taking steps to lighten the blow? i think italy is supporting and

austria is paying to help support how much people actually pay for oil and gas. jonathan: we will see more of that in europe in the months to come. lisa: it raises the question of what we will hear about the u.k. chancellor and the exchequer delivers his statement. this will be up to the fiscal side because this is a problem on the supply side that is not central banks. jonathan: brent crude is 111.75 step equity futures are a little bit negative, down more than 1/10%. a lot to discuss as we kick up a brand-new trading week. good morning, this is bloomberg. ♪ ritika: keeping you up to date, in china come a boeing 737 with 130 people has crashed in the

southwestern province. -- it was traveling and witnesses posted to social media showed a forest said to be the crash site. the plane is not the new boeing 737 max which was grounded after two fatal crashes. ukraine has rejected a russian demand that forces lay down their weapons. ukrainian government says russia should let -- should deliver those -- aid to those who want to stay. president biden hopes: ukraine today with the leaders of the u.k., germany and france to discuss a coordinated response to the latest developments. president biden travel to poland to talk to the humanitarian crisis. in hong kong, the governor has scrapped some of the travel curbs.

a ban on flights from nine countries including the u.s. and u.k. will be lifted plus the amount of time travelers spend in quarantine will be cut in half. warren if it is returning to dealmaking. he has agreed to buy a company for 11.6 alien dollars in cash. it operates primarily in a property and casualty reassurance and insurance. global news, 24 hours a day, powered by more than 2700 journalists and analysts in 120 countries. this is bloomberg. ♪ >> i think the heads of state

will get to know their plat form to demonstrate our unity and support to ukraine but also our willingness to protect and defend all nato allies. jonathan: the nato secretary general on nbc, from new york city this morning, good morning stop futures are down about 1/ 10% stuff yields are higher by three basis points. a couple of interviews this morning. maria: we are now joined by the moldavia and prime minister and the foreign minister in brussels. it's a very delicate situation for many countries but the tickly for eastern european countries. when you look at the brutality on you rain, how worried are you

about russia? >> we are all very worried about this regional situation in this aggression against you rain and about this war against ukraine. we fear for the european stability. at the same time, we hope this war will stop as soon as possible. this has to stop stop the question is how. some believe there is a diplomatic way out. would you be in favor of turning up the heat on russia when it comes to energy imports? >> the only way out is diplomatic. dialogue is the only way we can stabilize our continent and our region. maria: are you worried about antagonizing russia at this right? >> everyone is antagonized in

this of the world. we think the only way out of this crisis is for dialogue. maria: why is it important to be under the nato umbrella? >> we believe our future is in the european union. every connie is in the european union. maria: you make it clear to be in europe and away from the russian sphere of influence but when you hear ukraine falls, everyone will fall. how serious do you take this morning? >> we call know the situation has evolved with negative scenarios which we are aware of what happens now is what most

people in europe did not expect would be the case. we see our future joining the european union. maria: how are the diplomatic conversations going? >> we have a separate area versus the russian military presence. we've always said it's illegal on our territory but we have always said the only way to solving the conflict is for dialogue for diplomacy so we will continue with this methodology in the same way to try to solve our conflict. maria: when you see what's happening in belarus which is supposed to be an independent country and has military troops on the ground, do you fear he

may do the same in your country? >> we don't see any kind of unusual act to video right now. there is no additional troops, the situation is calm and stable. no scenario can be excluded stop for now, the situation in and around the region of the republic of moldova is why it stop there has been debate about the no-fly zone and the ukrainians were getting killed from the sky. how do you see the picture? >> we don't have a position on that stop we have close the heirs force -- airspace in moldova. there are no flights between moldova and the european union. we think the airspace is safer now when it comes to flying the eu and this is the situation. moldova is a neutral country and

does not take a position that is military. maria: thank you so much for your time. it's a very delicate situation. that was the deputy prime minister of moldova. other countries are joining or would like to be a member of the european union in the future. jonathan: looking forward to your conversation with the latvian defense minister later. he says the only way out is through diplomatic means. lisa: it's not a good solution any other way and given these talks, how will we know there is actual progress being made. jonathan: one stock to watch is going down by more than eight percent in early trading. the headline reads as follows -- china 737 crashing with more than 100 30 on board. kaylee has been on top of the story, struggling to get

details. we heard from the chinese president moments ago. kailey: xi jinping says they are urging a rescue from the chinese eastern crash. more than 130 people were on board and we don't know any kind of casualty count. he says they need to find a reason for the boeing crash. this raises the reputational risk for boeing. this is a 737 but not the 737 max. that jet has yet to return to commercial service in china but does this rash complicate that situation for boeing? jonathan: we won't be jumping to any conclusions on that one step the stock is down more than 8%. the 10 year yields are at 118 and the five year yield is 118 and the three year yield is at 218. we are slowly inverting one interest rate hike in. lisa: what does this mean when

you see risk assets rally? brian weinstein basically said the pivot we saw last week was important because it highlighted this increased risk of recession and increased fear the fed has on inflation and their willingness to risk a soft landing. is that what we are seeing on the yield curve? jonathan: are we pricing in a hard turn for a shorter cycle? >> it certainly seems that way. the fed comes out and says they have to do more into higher inflation but slowing growth. there is uncertainty in a wider gap. it certainly looks like the market is slowing the economy down and we don't get the much anticipated soft landing. lisa: you said the fed is willing to risk that soft landing because they are concerned about patient step is

that the message that risk assets heard last week? >> that was the first message and i think the fed is giving you that message and the rebound was the idea that maybe they are just talking tough, maybe they won't go seven times this year. there are other levers they can pull like the balance sheet and there is the uncertainty. the bank of england could not raise rates at a meeting and they said ok, let's take a breath. risk assets are in play but it could get more balance. lisa: what are you doing? i know ike wilson is saying sell the rally, is that the same in credit? >> it's a little more nuanced. we don't know enough to say that they reach their trough and value. investment grade have taken the brunt of it in high yield spreads are better relative and

loans are on the back of this but that's a specific story. what you can do is you can buy quality. people are afraid of duration. there are places you can pick away and pick up some yield but we still want to be cautious because there are also places where there could be more pain. lisa: where are the places there could be good opportunities? >> the scariest one is emerging markets. it's hard to ascertain what the facts are. central banks have hike rates a lot in the uncertainty premium is very high. i think investment grade and things with duration, you move on to more boring stocks that have done the were so you could pick up more yield. that's where we have seen investors start to nibble but the net flows are into the front

and of the yield curve with short duration. it hasn't started yet in terms of the customer influence. lisa: in terms of the widening spreading credit over treasuries and the narrowing of spreads and duration the treasury markets, do you think both of those moves , the worst is over? >> the harder one to figure out is the duration one. the fed will raise rates to 275 and it's hard to imagine we stop here. i think it comes down to that the balance sheet, the fed does not have to raise rates every meeting. they could raise rates more quickly and then go to the balance sheet if they so choose. the second he -- pieces harder to predict which is the geopolitical part. it seems you are afraid to check out the news every morning and that's about duration selling off. if we got good news, that would help the yield curve re-steepen.

it's hard to predict the duration trade being over the sides that we have moved out a certain amount stop jonathan: thank you for your patience. we were trying to work out what's going on the bond market yesterday evening. real yields are lower and not part -- and not higher. can you make sense of what we are pricing post fed and post wednesday? lisa: i can't make sense of it. i came up with different narratives and is just excuses to make it work stuff there is no obvious one. people are really struggling with how long inflation will remain elevated and what the fed will be willing to do to try to curtail it step if they don't, where do you go is specially but leads to a slow down. it's a conundrum. jonathan: the seven year and five year yield are trending above the 10 year yield this morning. your 10 year about 118.

lisa: i think you've got a prediction there. jonathan: i'm not sharing it today. from new york city. this is bloomberg. ♪

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jonathan: live from new york city, good morning. on the equity market, we are down a quarter of 1% on the s&p 500. lastly, the biggest week going back to november of 2020. morgan stanley said keep it simple. let's get the -- the bond market, twos, fives, and tens. this is what it's all about for you. 218.34 on fives, 217.81 on the tens. lisa: it's a hot cycle and confirmed the morgan stanley view of the short hotter cycle

and how much this goes back to where we work before this ever began which is slow growth, slow inflation and an aging population, the same dynamics that were there before. jonathan: is this with chairman powell is comfortable with? is bond market breakeven? lisa: are they ok with 7.8% gpi and the fact they have inflation wrong and continue to? are they ok with where we are in terms of inflationary pressures exacerbated by the war in ukraine? there are so many ways for them to be concerned. they have to basically look past the flattening yield curve tort other dynamics. jonathan: a sneak peek of the oil market. it is trading higher. this line came from the foreign minister of lithuania. it is unavoidable to talk about

the energy sector. lisa: for europe, energy is still on the table and the question of whether it will will come to a full embargo. as pressure grows, they could retaliate in fuller measure to russia. energy is something the european union has to consider and have to wean themselves off of russian oil. jonathan: let's turn to boeing. 177.10 on boeing, trading lower by a little more than 8%. kailey: you had a jet with 132 people on it crashing in the southwestern province and no news on the casualties but this is a 737 800g, not the 737 max. boeing china is saying they are

investigating into the crash but there is still a lot of information we don't have. jonathan: thank you. crude is 108 point 82 and brent is 112. we have the chief oil analyst with us now. the lithuanian foreign minister said it is unavoidable to talk about the energy sector. your thoughts on those comments this morning? >> i know your is discussing potential bans on russian oil. they'd done the fourth rounds of sanctions and its mayor -- and it's making it difficult for european traders to move oil. particularly outside of europe if there is any european entity. given the banking sanctions, given other sanctions going on by european refiners in the fourth round of sanctions that

come through, very few buyers in europe are buying russian oil and gas anyway. the pipeline is still flowing and there has been no disruption whatsoever. lisa: where are we in terms of what we are pricing in? there was a massive rally last week. was it a head fake or is the oil market finding its footing? >> i think the market is grappling with the enormity in terms of the losses we are potentially staring at stop ultimately, the volatility we saw last week was down to a lack of liquidity. we cannot understate how big of a cash flow problem there is. the exchanges are raising margins, compared to a year ago. you could be paying 10 times the margins now which is tying up a lot of capital. european refiners have to bite long haul crude -- have to buy long haul crude so it's a liquidity problem rather than a

fundamental problem. prices could go higher than 140. it touched that two weeks ago but this is something, we need the volatility to come down. until that comes down, the margin requirement will remain high. lisa: on a fundamental basis, you said oil prices could back to -- could go back to 100 $40 per barrel which i assume is brent crude. with the lack of liquidity, how does that factor in? could they go higher work does it just remain jumpy? >> i would say it will be super jumpy because we ultimately need liquidity to be able to go higher. the near term, we still think prices should be heading higher because we were bullish on oil well before the crisis. if anything, we will see close to 3 million barrels today of russian production at the peak.

what is interesting is a lot of people have been talking about why we have seen the sell off and that russian production will continue unabated step a lot of the barrels moving were prewar barrels. the tightness will manifest itself in the coming weeks and months. lisa: tightness because of the supply side so on the demand side, does demand obstruction not kick in before $140? >> demand starts to slow from $120 onwards. demand destruction is out right decline. it takes a long time for consumers to shift behaviors. lisa: as we see oil continuing to go up and you see a shift in behavior for some of the shale

players who have been exercising discipline, do you we reach a point where they pump more like the white house would like to see them do? >> the tricky bit with that is the white house is asking for more production from the u.s. but equally, things are clear that we only want this in the short-term, not necessarily engaging about the medium-term which is where they want more clarity. we don't necessarily see oil producers jumping on that but they have huge aboveground constraints, equipment, people. those are the bigger constraints right now even if they wanted to increase production. the second half of the year, we have factored in steady growth. we expect 800,000 barrels of production but beyond that, it will be hard for them. lisa: what about in germany because we got this discussion with cutter - qata to replacer

production. how difficult is it for journey to rely -- to remove its reliance on russia? >> one country on its own could do that but ultimately, there is not an infinite amount of oil from qatar. for them to give germany or somebody else will be losing out. this will require qatar to increase its own production to be able to sell that to germany whereas right now, there have been numbers that europe can reduce its reliance on russian oil. it's unrealistic because you would have to take that lng away from asia. energy security is now becoming the paramount concern. storage is so low.

lisa: what's your that on how this will transpire this year? even if the conflict were to resolve? how high will oil prices remain? will it remain because of the built-in uncertainty and how everyone is rejiggering where they get their supplies? >> we don't think there will be a resolution to this conflict any soon. even if there were to be, sanctions don't get lifted anytime soon. some of these sanctions if not all will remain in place for months if not years. that means crippling the russian energy sector which means a lack of flow the to keeley on the oil side. that automatically puts the onus on demand. if other countries cannot come up with supplies, we are absolutely looking at

possibilities of oil prices over $150 this summer. even gas remaining well above 100 euros. it's let you -- it lets you enforce demand destruction. governments will have to step in and mandate rationing so for gas, we have enough gas for the next winter. jonathan: thank you. lisa: part of this is because you haven't seen the demand destruction. they are frustrated they have been demonized and the entire industry has been left for dead and people transition away and have not been investing. they say this is the consequence and you rely on us even during this situation. jonathan: a number of key meetings are coming up this week

including the president of the united states going to europe. janet yellen is speaking to the energy sector and wall street speaking to them as well. kailey: i am so curious. how much will they say on one hand that we appreciate how much we do and we love you guys and you are an integral part of the community, please pump more oil and by the way, we will tax you. lisa: if you increase prices too much, we will come down real hard. jonathan: the treasury secretary is off the record. we will break down what is possibly set. lisa: wouldn't you want to be there? jonathan: futures are down 11 on the s&p 500. yields are up three basis points. chairman powell a little bit later today. from new york, this is bloomberg. ritika: keeping up-to-date with news from around the world. a boeing 737 with 100 32 people

on board has crashed in china. the eastern flight crashed in an area in the southwest province but no word on casualties. the plane involved was not the 737 max. hypersonic missiles happen threatened against ukraine from russia. they want to show the world that moscow has abundant power and analysts expect more airpower to be used as the russian ground campaign stalls. there is likely to be more civilian casualties. the administration will brief business executives on the impact of russia's invasion on ukraine and the sanctions that followed. exxon mobile, conocophillips, jp morgan and bank of america will be in on the meeting. leaders are meeting from the

nuclear industry today. the war in ukraine has caused oil and gas prices to soar. a board shakeup at credit suisse. the board vice-chairman is stepping down along with other members of the board and they been reeling from a series of scandals. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪

>> there is a d formation about

china and providing military assistance to russia. what china is doing is sending food, medicine and baby formula. not weapons and ammunition to any party. we are against the war. jonathan: china's ambassador to the u.s. on cbs step there was no report about china providing military assistance to china. that was the report over the last couple of weeks that they were providing assistance to russia. lisa: it's disinformation as being used by china to say we are not supplying ammunition. we are supplying these other things because we just want these but this is them not coming out with a harder line to

try to pressure russia to back some of their troops. jonathan: the president will have a call with european leaders later to get on the same page about some of these issues with futures down 2/10%. later this week, the president of the united states going to europe and meeting with nato members. let's get to the founder and political strategist at ford of. just at fordham. >> my view has not changed because weekend look at previous conflicts for a template. i can't help highlight the disconnect between what i am hearing from the investors and chief executives i hear from and what is possible.

politics is the art of the possible. the fact is, neither side is ready to give up in this conflict. lisa: how do you see this progressing? people say markets are already pricing at the end of this conflict so what will the next couple of weeks and months look like? >> the next couple of weeks will be grim. we have a stalemate. we love a david and goliath story and the ukrainians have been absolutely heroic at keeping the russian troops from getting closer. the simple fact is, the ukrainian army is out gunned and outmanned. we are now talking about extreme fighting and today, we have this horrendous deadline in the port city where the russians have

insisted that everybody needs to leave. ask the syrians what happened with the green buses that they were supposed to evacuate on. we need to be prepared for a nasty war of attrition in the coming weeks. united states has made clear that they will not get involved in sending troops. i still think a chemical weapon or a tactical nuke isn't off the table. we got putin's intentions wrong when it came to an invasion. i don't think we should do the same thing again in terms of underestimating his willingness to win this conflict. lisa: what is the redline for the western allies? president biden is going to europe later this week step how much will they discuss how much putin doesn't what their response is for sending troops in? >> it's difficult.

the biden administration, to my view, played the intelligence game pretty well so far meaning the kind of strategic leaking of intelligence. let's think about as troubling putin. we know what you are going to do next. we have to assume there is a lot going on behind the scenes and a lot of intelligence being analyzed that will make its way into the ultimate strategy. there has also been criticism of the biden administration for being so clear about what we won't do. it reminds me of the wars in yugoslavia, no boots on the ground. you were also telling your adversary that they can get away with quite a bit. domestic public opinion does not support getting involved and no

one wants world war iii. it does give russia a lot of license to pursue its objective. lisa: we were playing that sound from the chinese ambassador to the u.s. he was asked why china has not condemned russia for the invasion and he said condemnations is not solve the problem. if russia does not back down by condemnation and sanctions, does anything matter? >> that's a very existential question. what we called signaling in international relations really does matter. the chinese are playing a delicate game that they must have buyers remorse. i think there are limits to china's friendship with russia. china is not going to help the united states ends this conflict.

frankly, if the u.s. is busy with russia, the has less time and less oxygen to push china around. jonathan: always good to catch up, thanks for being with us. this complication is not getting settled anytime soon. lisa: this is the reason why many people are wondering why the market is not feeling relieved. we don't know how much to price out. we are seeing higher prices and not lower prices. jonathan: there was a take a number of weeks ago that after we had the energy sanctions from the united it's on russia the following that, that was as tough as it get. i wonder if that changes this week with the europeans leaving again. lisa: it goes to the fact we

don't have an understanding of how much opec can pump let alone their willingness to come. just the frictions of rearranging some of the supply chains. it's hard to get your mind around. jonathan: we've got to sort out several relationships internationally and one important one is the relationship between this white house and riyadh. kailey: saudi arabia will be a key player because you have the administration repeatedly calling for opec to ramp up production to offset higher prices at the pump in the u.s. and now it's turning toward shale. the middle east play is not going away. the biden administration has been relatively tough when it comes to the saudi relationship, it's going to be interesting to see how that evolves, perhaps they will accelerate due to the crisis. jonathan: brent and wti are up more than 4% this morning.

coming up shortly, leslie falcone from ubs global wealth management. 10 year yields are higher by 10 basis points. from new york, this is bloomberg. ♪.

>> some of the trends going into the ukraine crisis really extended. >> the market will be withholding for some time. >> you need to look to the medium-term and hold that line. >> i think we have been through a very standard correction here. >> this is not an economy that will go quickly into recession. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: live from new york city, for our audience worldwide, good morning. this is "bloomberg surveillance" on tv and radio. live with lisa abramowicz and kailey leinz, i'm jonathan ferro. a conversation between the president of the united states and european leaders. lisa: they are going to try to understand what comes next is this conflict rages on, as the war in ukraine continues