trichet about that.strength, we still have it, but not compared to yesterday. 1.20,ro falling below the level it reached yesterday. to sell itsaring first solvent bonds. 2% higher makes up for some of the things we saw the last couple of days. industrial metals in europe climbing. kailey: we are certainly keeping an eye throughout the session. coming up, our interview with the ceo of daimler at 8:30 am in new york and 1:30 p.m. in london. this is bloomberg. ♪ ensure controls are the most efficient. this is what he's facing across the business and wealth management, too. kailey: does this impact his ability to lead the bank going forward given that he has inherited at least one scandal? >> he has come in and made quick steps to address the structure of the bank, which shows as he is keen to put his mark on the company. at the moment he is well stedrested but -- well entru by the board. francine: you have been talking for a couple of minutes and i haven't asked if we will see mergers and acquisitions in th

we became trichet to say that the last cycle was one of the least loved on record.nd certainly i think we started a new cycle on march 23. that largely seems unloved when you look at how american households have positioned. romaine: when you look at this week, we got a lot of data on the ism and factory data and the jobs report. when you look at the economic data and some of the moves we had in the market, did anything whereeek really change this market and this economy was headed? >> it does not. things were not as good as they felt on wednesday night. they weren't as bad as they felt on thursday. this is going to be a drawnout recovery. there may be some fits and starts and days where things feel less certain. but i believe a new cycle has emerged and that will play out over many years. 2011, there2009 to was nothing great about the economy. this will play out in a similar fashion. some fits and starts along the way like we saw in 2009 and 2010. i think the driving force of this is that this protracted recovery means that the fed is not raising rates anytime soon.

biggestp, trichet's spectacle -- cricket's biggest spectacle but no fans in the stadium.is season deliver responses? that is next. this is bloomberg. ♪ rishaad: the coronavirus has taken a toll on virtually all aspects of life, including sports and the cancellation of wimbledon, the postponement of the olympics. cricket's indian premier league kicked off last weekend but it is taking place in the united arab emirates and is the first competition played behind closed doors. the brand value could fall by as much as 15%. a senior advisor of valuation services at a financial advisory firm joins us. the brand value falling by 15%, surely could it -- surely it could be more than that? it may not be that bad. i would say that the fact that the tournament is going through in this time is a positive thing. there have been some i would say negatives, for example the title sponsor pulled out. the title sponsor pulled out, replaced at half the price. there are a couple negatives. no crowds in the stadiums is a negative, but the fact that the indian cricket board was able to find a sp