. >> jim bianco? >> i would agree with what kathy said. you have to keep dancing and playing.uld've the things driving all of this is what the fed did last year. they came in and they purchased high-yield bonds. they purchased corporate etf's. they sent a powerful signal that they were there to make sure if there were any disturbances in the market they would play along. at the end of the year when the old administration pulled back on some of those programs, you heard the fed complain about it. there is this belief that if you look at traditional fundamentals or metrics in the high-yield market, it doesn't provide you with a lot of comfort that you are paying up for a lot of those bonds. then you got a big player with the printing press behind you and it's got to make sure that you come out hole in that market. it's really making people reach for a lot of risk. >> bond vigilante is the handle on twitter. april saw zero high-yield defaults. it was the fifth biggest month for high-yield issuance and history. a lot was that -- a lot of that was refinancing. it's hard to lean aga

for the bitcoin bulls like jim bianco, this is proof that this decentralized system of currencies worksed exchange has held up during these times of bitcoin volatility. it's a win for the new form of finance. annmarie: interesting. dani burger be all across this today. it's her birthday. happy birthday. dani: thank. annmarie: she will be tracking bitcoin on her birthday. lucky girl. that does it for us. ahead is the european market open. u.s. and european equity futures are looking brighter this morning. we are in the green. the market is looking into the narrative of economic recovery, less on the extent about inflation given what we had in the u.s. yesterday. jobless claims were better than expected. nasdaq futures were rallying this morning. nasdaq blew past the 50 day moving average. optimism at the end of a volatile, busy week. bitcoin now just below 40 k. this is bloomberg. ♪ anna: good morning. welcome to the european open. mark cudmore joins us in singapore to take us through all the market action this hour. the cash trade is less than an hour away. here are your top headlines.

i want to bring in bianco research, jim bianco. crypto universe. i do wonder if elon musk can cause this kind of turmoil, is this thing ready for prime time yet? >> ready for prime time is you know, no, it is not ready for prime time today. if the answer is, can we start today, using cryptocurrencies as a replacement for some of the things we do in the traditional financial space? yes, it is the beta version of a future financial system to come and you know, strange way elon musk is helping you know, stress test the system, iron out the bugs, learn from these, problems that he is creating to try and put in future revisions to prevent these things from happening. charles: what do you think the one part of this stress test that you like the most so far? i thought they came through last week pretty good, particularly considering the role in the colonial pipeline that, you know, has been the key excuse for janet yellen and others no to the accept cryptocurrency in general? >> i agree. you know, just to take that one, for example, i thi

. >>> if you can stomach sudden drops in the crypto space, jim bianco believes it can trade off.e street" ahead. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. >>> we're going to keep talking and i understand the president is willing to keep talking, and the president is more reasonable than some of the people surrounding him. we would like to get an outcome on a significant infrastructure package, and what we have already recommended on a bipartisan basis out of one of the senate committees just this week is more than we've ever done over a multiyear infrastructure bill. so we're open to spending some more what we're not open to is going back and reopening the 2017 tax bill >> all right open to spending some more