jet pack through a tornado? >> tomsting before. >> tom: i have to evaluate that. >> jimmy: would you ride a shark leak a cowboy. >> tom: hey, you know, i went diving with the whales, blue whales. a shark, it would denied. great white? >> jimmy: yeah, have to be. >> tom: i don't think they'd like that. >> jimmy: yeah. okay. would you grain a hundred pounds for a role? >> tom: les grossman. >> jimmy: i'm sure. i know i told you this story before, i know i told you the story before but at the tend of that movie i said to my -- i said, i said, i thought tom cruise was in this movie. she was like you idiot he was les grossman the whole time. weed you know. would you be a passenger in a plane flown by harrison ford. >> tom: yeah, i would i trust haresson. >> jimmy: would you fly a plane blind folded jude what? >> jimmy: fly a plane blind folded. >> tom: you know what? you actually at a certain point? am i alloweded to look at the instruments or i can't see them at all. >> jimmy: i don't know what your powers are but i would

lisa a: that is jp morgan. tomonce again, it is a very traditional and financial study, which is you have to wait for earnings. richard haass is scheduled to be with us with the council of foreign relations. coming up. stay with us. this is bloomberg. ♪ ♪ ♪ the vehicles are all-electric. the feeling is all mercedes. the choice is all yours. see your dealer for exceptional offers today. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. tom: bloomberg surveillance. good morning. jonathan ferro on assignment. lisa abramowicz and tom keene on a friday to get into the weekend. we are thinking abou

it is not a common aspect. tomstate either actual or -- is commercial real estate, actual or securitized, --? amanda: it is a more than $5.5 trillion market. banks, small and large, owned roughly half of that. it will take time for the does every process to play through. it is reasonable to think metrics we used in past cycles like ltd may not be significant given the changes in prices we have seen and interest rate volatility. it will take time for investors to get clarity on the macro which determines cash flows of the outlets, and to figure out the bottom price of the discovery which will take longer to play out then the stresses we might see in the credit markets among the smaller issuers. it is something we are definitely watching. the real point is that just like commercial real estate cannot be painted with a broad brush, all cre is not equal. similarly in the corporate credit market, quality needs more than ratings. it is nuanced and means pricing power and more options, business model resilience. those are

a rare deal. marvin: we can count -- tom: the new york yankees had a perfect game last night. in: that is incredible. tom: i cannot say how unusual this is. this is the 24th. it is like once every 20 years if you are lucky. katie: a heavily researched this for this show. the last one happened in 2012. i saw they were playing the 80's -- the a's. i hope that is not controversial to say. is this the case of the yankees question it or the other team being bad? tom: it is both. but at -- but it is also no-hitter. the answer is the a's are a professional team and beat the yankees the night before. yes, they are one of the you. a perfect game right now against the atlanta braves in the texas rangers would be a different story. katie: i am just going off orem's i ended up on. tom: i am doing this because rambo is actually -- because bramo is actually good at this. jonathan ferro would be looking at the ceiling light, why are we not talking about yield? i look at this and it is the dog days of the summer. how do you stay focused on the mission of getting to the fall and into 2024? marv

find the same job at a different bank. tomquickly here, we had the cfa[indiscernible] is it a generalization or just tougher? >> i would say it is tougher but smart people have a good education and are willing to switch their career path and say if trading doesn't work anymore for me in whatever shape or form, i lose something else -- do something else with my brain, i guess old find a job and it is different and you have to adjust your life for a. tom: thank you for the brief. it really something. it is a frightening thing. you talk about obsolescence. are all of these fancy jobs obsolete? this is not just about credit suisse, you mentioned the numbers and i guess it is what it is, a bankruptcy merger. every other bank is doing a -- doing the same thing on a smaller basis. you wonder, you say to a kid, go get a cfa, you will love it. i'm serious. you know. lisa: at the same time you have stories like the one yesterday about how interns on wall street are making $120 per hour at citadel. it is sort of what talent and this goes

tom: really a key phrase, persistent inflation lisa abramowicz and tom keene. meeting 2:00 p.m. this afternoon we will have special coverage for you. before we go all equity all the time, lisa the bond market i need the disbelief forget about persistent rates but the vicinity has mentioned the dreaded word six of getting from five point excess no one is modeling if you go to 5.5 or 5.6. or even touch a six handle. lisa: march 1 this year people were talking about the interest rates because the banking crisis. everyone has moved on and moved into some of these regional bank stocks. at what point does the fed lead into banking crisis, credit contractions versus this feeling of perhaps we need to revisit the belief in that dreaded six handle or potentially art restrictive rates? tom: if you want to worry you can look at people market effort right now we are seeing many houses just higher the morgan stanley shop they are not. michael wilson is cio, at morgan stanley and one of your themes, michelson, is there is a complete miscast on the interest rate game addressed

do we have a tipping point in markets? tom: it's the tension right now, this distraction of russia but the bottom line is it's a massive mystery starting on the 14th of the month with jp morgan. we will -- lisa is taking off all of july but other than that-- lisa: pretty much. tom: there was a moment of silence for my vacation plans. dow futures are up 17. she did a killer job over the last 48 hours from brussels, coalescing all of the news on russia, maria tadeo joins us now from brussels. it seems like we are focused on belarus. sliced through the noise, what is the lesson for the observation from mr. lukashenko this morning? maria: the key question for me is what did he get out of this? what was he promised by vladimir putin? these to act like they are friends and allies but this is a transactional relationship. vladimir putin has essentially sent awaypergosian away from russia and belarus will host him. lukashenko said he would harder -- on a part of his deal but what is in this deal for lukashenko? the future of wagner i'

it's a mixed picture. tom: you talk about a boom to growth.mp in housing starts going back than a year. a lot of people have seen we have seen the bottom of the housing markets, how much could that boost the american economy? peter: homebuilders got a big surprise yesterday. and now with these numbers today, this is a large surprise. that kind of increasing and construction -- increase in construction. the housing market is tight. vacancy rates are very low at this point and you are looking at a residential construction that has come down sharply from the peaks that we saw just after the pandemic we had a big boost. it came down in the past year, year .5. i think we have another leg down but the correction is already taking place in housing. lisa: what do you think jay powell needs to do on capital hill to convince marcus that he is committed to doing something after the pause? is confusing for market that believes it doesn't have the teeth for two more rate hikes? peter: i was listening to this conundrum, both awkward in hawkish. we came up w

jonathan: i am such a slow adopter. tome respects a huge amount of people are such a slow adopters. jonathan: they wait and do it better. you know why i activated facial recognition? the units for bloomberg. tom: i still don't do that. jonathan: it is awesome. it is fantastic. upgrade. tom: this is the old technology of bloomberg. jonathan: you are going to download the old app. the b unit is fantastic. no turning back. it is a beautiful thing. there is sure promo for this morning. principal asset management coming up this morning, seema shah. the equity market keeps adding weight to the market rally of the year so far. the writing is stalling just a touch going into the fed one week from today. equity markets slightly positive on the s&p. from new york, this is bloomberg. . lisa m: keeping you up-to-date with news from around the world. with the first word, i am lisa mateo. former vice president mike pence has announced he is challenging his former boss, donald trump, for the 2024 presidential nomination. in a new video be

it was painted as a way tom: a generational thing. n the wake of that very explosive story to the point that not only bank of america but brian moynihan of bank of america had publicly defended tom montag seriously. these weren't just work from home issues. there were questions about whether women were allowed to be objectified in a culture. there were people afraid of losing their jobs. tom: red and green on the screen right now. a very constructive tone to the tape off of four or five hours ago on we're waiting for news from russia. maria tadeo is looking at that carefully. the standard & poor's 500, fractional, down 0.3%. we say good morning to all of you on bloomberg radio and television. over the weekend, if there hadn't been goldman sachs, if there hadn't been all of the international relations with russia, there would have been no other topic. citigroup, goldman sachs layoffs. are they just getting out front of a difficult summer? sonali: the part that is so disheartening for many people is golden set out to cut many jobs and wh

they are talking about a consumer this morning, tom. he airline or the labor market. we do not see it with other retailers as well. please call this a mystery wrapped in an enigma? lisa: it is the retail sector. it is choose your own adventure. jonathan: decent this morning. we will talk about that this morning. tom: chuck, we love having him on. it is about this cursing of a cold to a sash -- hold to a bye. does macy's become a cell? -- sell? >> macy's is doing well on many different fronts. macy's is a victim of the circumstances right now. you alluded to it. with inflationary pressures out, budgets are constrained. i do not personally think that macy's is a sell. we since that the guide for the year, that the outline was too optimistic. we are seeing that to a degree, but acs is still doing a lot of good. tom: the fact is that they have been a trademark for years. do you have enough faith in management, in their strategy to say, i have a three or five year vet. higher than macy's, even if it is not that 60 or 70? >> it depends on what

lisa a: this time, there is something different. tom, you were saying this is a car company. is it? viding the level for charging. tom: i just did a log extrapolation from the beginning of elon musk to middle elon musk and end elon musk. tesla is dead on its log regression. this is not underpriced. it is on trend through thick and then. jonathan: what a win for tesla. no, for dan ives. they frozen out, then braced him, embraced ford, did not talk to him for a long time and now he is the guy coming up with the industry standard. gm is hopping on twitter to say we are designing the constant in that direction. that is a big win for elon musk. tom: who knows what elon musk is going to do this weekend and then will vilify him on monday. as his wife so many people are attracted to him. -- why so many people are attracted to him. this is a guy who is so strategic. jonathan: guys come with extremes. how many times have you seen this throughout history? tom: you say this about michael purves as well. jonathan: every time he comes on. [laughter] lisa a: you are going to get michael purves. tom

that is a tricky tight rope. tomcarolina child protective services emailed in and said we have a problem, winnie cisar has a rising third-grader. are you really forcing her to use an hp 12c to learn compound interest? winnie: we do talk compound interest. tom: i am assuming someone from creditsights goes to reverse polish rotation. winnie: we pull out the abacus. tom: that is more safe. winnie cisar, thank you so much. they bring their kids up here, let's go see "bloomberg surveillance." lisa: it is fantastic, it is great to get some fresh blood that could be an internet year. tom: lisa, what on your screen gets your attention? lisa: i am watching the euro today because i want to understand the difference between the pause of the fed and what the ecb does. how much does this dovetail into the question around china and stimulus and to some surprise to the upside with respect to growth? how much could this be a catholic comment, especially given that -- a cathartic moment especially given the dollar weakness. tom: we h

he is a nice guy. tomorning, manchester you, is like a nationwide baseball tournament and then the yankees play the mets? is that the equivalent? jonathan: it is a very old cup competition and it goes all the way down to the lower leagues. anybody can end up in the final. so you can have really big clubs with really small teams. tom: will the nation be riveted by the red and blue of manchester? jonathan: manchester city is going for the league title, the champions league. they make out the opportunity to stop them from winning everything. tom: man city has the money? jonathan: they are the winners right now. they tom: are dominating everything. tom:when i watch the medicine amateur, there are no weak players. jonathan: that is because they spend a huge amount of money. brammo follows this now too. tom: are you going to watch this tomorrow? is this a big enough deal to you? ♪ i think we're definitely seeing weak spots. middle hire income consumers are doing ok. we see a tray down, recessionary is pulling ba

it's tough to get a handle on this. tomgate central banks in every nation and economy is different. i defer to you on this, the polarity in the united kingdom from a prosperous server sector dynamism of london, versus the united kingdom flat on their back i would suggest it's different but as stark or starker than the united states. jonathan: i'm the worst person to ask that question two because i have a bias on the city of london. i hear people come over and say the u.k. is bad. but i love london and it's doing great. it reminds me of switzerland. you go over to zÜrich and you see what these blacked out luxury vehicles and everyone is living large and the central bank is like negative rates, -75 basis points and we a problem with inflation. tom: that continues to surprise. jonathan: in london, they wouldn't swap it for the world, the people who work there. tom: should team surveillance move to london? what do you think? kids could acquire british accent. jonathan: $68 per barrel. coming up in the next hour, the former u.s.

are getting a summer boost. tom: joe easton from equities, thank you. ng up, bitcoin hitting a 6-chiesa financials push into crypto. bitcoin about 28,000. this is bloomberg. ♪ ♪ ♪ every day, businesses everywhere are asking. is it possible? with comcast business...it is. is it possible to help keep our online platform safe from cyberthreats? so we can better protect our customer data? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with global secure networking from comcast business. it's not just possible. it's happening. did you know you can get someone to shop for you? stitch fix really gets me and what i need. even better? they save me a trip to the mall. it's easy: i share my style, size and budget. and they do the shopping for me. stitch fix sends me things that fit and make me feel like a more stylish version of myself. i keep what works, and send back the rest. no subscription required. no commitment. just my sty

tom: it's a good question though. oh canada. jonathan: blame canada for the smoke live from new york city this morning, good morning. this is bloomberg surveillance on tv and radio alongside tom keene and lisa abramowicz i'm jonathan ferro. blame canada. i think we need to talk about the bond market first. blame canada for the surprise rate hike following a rate hike from the australian bank. tom: central banks like surprise. an expert on this the bottom line is surprise is always more efficacious for a central bank. the answer is they surprised yesterday and you wonder do we skip, pause, or light a bonfire june 14. jonathan: they communicated a conditional pause in january and delivered this line yesterday. it was not suit -- restrictive. people ask themselves is that's statement in chairman powell's future? lisa: if they committed to a skip what is that mean in this has been the past few weeks of pricing out rate cuts and i think that has been the name continues to be the theme now just to hide what the fed go? tom: they can't

it is a long journey. tomyou give us a sense of the contracts you have been signing in the last few months and the partnerships? >> it is pet food. also with farmers associations. buying of fertilizers. we have been boosting the plant growth. it is something very important for the farmers to change their food supply. francine: what happens in a couple of years, do you want to sell, do you want to grow? >> we have a mexican company. that will be the next step of growth for us growing in partnership. first will be growth. tom: creating efficiencies, getting to profitability, are you done in terms of the efficiencies you can find when it comes to staffing? >> on some functions, on some engineering, we are working with partners with this. we have 30-40 people this year. we are focusing the different positions. we get good efficiency there, but it is always good to look at savings in this environment. francine: thank you so much for joining us. the chief executive officer of insect. tom: we will take a look into th

that will be a real tom: cause for concern. the bank of england seems to be in a different place. there was a great essay on global disinflation, where they might disagree. he ended with the united kingdom as its own outlier. how much of an outlier is the bank of england compared to the other two thanks see? -- two banks? jennifer: it's really, really high in the u.k.. it is a major cause for concern. the bank probably has a few more rate hikes to go. we are expecting another one next week. we think the peak will probably be around 5.25%. it might continue hiking for little bit longer than the fed and ecb because of that stickiness we are seeing and the tightness and labor market. but there are signs around the labor market that things are starting to ease, including in the u.k., rates coming down, for example. tom: let's draw down to the united states, then. is the inflation data of less importance because the heart of the matter is to see employment break? jennifer: yes, i do think that is the case, actually. what we need to s

i have been a fan for 50 years. tom a young lad buying the white cassette tapes we use to buy. this is the talk of the financial community. are you a deadhead and can -- drive forward that head of dead and company the nation's monetary: see? dan: absolutely we believe that rate increases -- will help generate the t-bills. it is a clumsy discussion as you saw yesterday and with the press conference. if you think you will raise two times, why are you doing now? if the fed rate goes up the reverse rate go -- will go up and and if so the less money will come out about. if it is not coming out of reversed repose it is coming out of bank recoveries. so it is pressure on the banking sector. that is the key issue in these articles. liquidity is not being sucked up. tom: we have to leave it there. thank you, dan. and we think for the -- thank you for the conversation in washington as well. this is bloomberg. stick with us. this is bloomberg. ♪ smart bed is now only $899. plus, 48-month financing on all smart beds. shop now only

the song b, a k, a tom lee. the most dangerous times we find was sort of the as we say that the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a stone in the side of the superpowers fugitive right now. the world's most dangerous. where is, is wanted stats june 29th on dw, the . this is d. w. use life from the president for a lot of mr. landscape confirms ukraine's counter offensive his on the way. he says the attack has been launched, but refuse to go into detail. most ukraine and russia say that's been increased fighting along the front line. also coming up donuts, trump makes his 1st public appearance.

these funds a, a k, a tom lee, the most dangerous timely fund way was sort of the, as we say, the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a sold in the side of the superpowers fugitive right now. the world's most dangerous. where is, is wanted dogs june 29 on dw, the, you're watching the w news coming to live from burleson. nato stage is the largest air force exercise, and it's history left by germany. the drills involved 25 countries and over 10000 soldiers and are seen as a clear signal to moscow. also coming up on the show, former italian prime minister silvio berlin.

it is a lot of money. tomart with this fantastic anecdote about a manager being offered mountains of gold, $120 million and paid sabbatical. explain to us what is driving this war for talent. is there not enough talent, or are some hedge funds performing better than expected and there investors are happy to pay for this? what is going on? >> a lot of things are leading to this huge payout and in the war for talent, and it is a lack of supply. after the 2008 financial crisis, it was a good training ground for a lot of traders. that no longer exists because supply is constrained. if you look at the growth of these platforms, it has been phenomenal. most of these players have added tens of billions of dollars to their assets. most large players are close to new money so they cannot take anymore money. the only way they can grow is by hiring more people who can take more risk so they can raise more capital. it is not a problem of raising capital for these hedge funds. francine: who is paying for all of this? >> in

economy has not in a while, and that being higher rates for longer. tom: likely the banks will hold pat until they get a few more details before announcing those buybacks. thank you very much indeed. here's what else we are watching today, inflation numbers so important as we think about what christine lagarde from the ecb has been saying. inflation numbers out of europe today, we will get german regional numbers in terms of inflation at 1:00 p.m. u.k. time. spanish inflation at 8:30 and we are expecting spanish inflation to come down on a year on year basis for the latest month. german inflation expected to take up year on year i 6.3% in the month of june versus may. really consequential for how ecb officials think about the next steps. in an economy that has struggled with the failing real estate sector, a sharp drop in property prices, the expectation is that a hike will come through. bloomberg economic sees a terminal rate of about 4% and say inflation remains sticky in that economy. when it comes to the inflation picture, where is your focus going to

so, she had a full play. >> so did tom for that matter. >> i liked tom. he was a pretty good guy. . >> jeff rodriguez was tom's boss at the county jail, they were corrections officers. >> he was a good employee. he had a son that was sick. so, he did miss more work than what most fellows officers liked. >> stressful draining, caring for a sick child. so, maybe their new years eve party was a way to hope for better times and take a break to. >> ashley's adoptive dad joel was at the party. >> there was dancing going on. people were having a good time. >> ashley seemed to be having a fine time, said andrea. >> she and tom seems to be getting along fine? >> they seem to be getting along fine. >> that's when anthea an andrea went on into the kitchen to have a little party of their own. >> what were you drinking? >> jungle juice and jell-o shots. >> oh my. >> yeah, i was having a good time, i intended to have a good time. >> there was one unusual thing those said andrea. ashley had just gone through something kind of awful. >> she found out that she had a miscarriage that day. and i said

tom: a percent? i don't know. tie: i would pay someone to do that math but either way it is hairy. tom: can you imagine if they continue to outperform? even the bulls. in apple. katie: in apple? tom: apple, nvidia, tesla all of them. katie: we could get another 30% on apple. the leadership discussion has been under a big debate of whether it will continue to be tech or laggards will catch up. katie greifeld driving the market up right now s&p 500 up .4%. you have a bible and it will be in the office floor in you trip over it every few days you have a cigar in your hand and you all over the revalue line. look at the three-star, four-star, and five-star stocks. they stood the test of time. cfra strategist sam stovall joining us. how did they do in this market? sam: a lot of the markets have done well. we had an overweight recommendation on the sectors that were dramatic underperformers in 2022. you know the old saying that investors tend to rotate from first to worst meaning they move out of the defensive areas that

a tom acosta has one big advantage. if the system does become self sustaining, you need very little input to produce food. so i have a really high profit margin. i'm actually 80 percent like 80 percent of my revenues . profit fits it's a. yeah, it's insane because i don't have a tractor. uh i the only thing that we actually pay for is a composite then the seeds. it's not that i'm getting rich, but i don't need much to to live off because i have my foods and me as well. so what could industrial agriculture learn from palmer come to some of the things that definitely adaptable, that's a come for us. and also with the pros, inbetween roads, with heavy tubs. it's definitely all possible on echo forestry, it's a big seam there were 2 actually awesome pearl trees around. it's not to be afraid that you actually have stayed on your field. i think that's all the things that the big execution needs to address. as well as prompting multiple prompts that i'm movies really and using list for to and building up soil changes that have

a lot to do. date two of the rebrand but watch the space. tom a massive footprint in asia which is consequential for the overall group. the innovation banking has a western tilt so far. does asia become a big play for that part of the business? erin: overtime, absolutely. noel had an vocal about wanting to change his business and brand local to benefit our clients. starting with hong kong it makes a lot of sense. we will see post that where else we go. tom: have you had to adjust your banking svb bank which was part of the appeal, you were banking largely companies that were on bankable amongst other banks and offered that proposition. have you had to lower risk and adjusted you look to clients? what is the proposition that you are offering them? erin:ation economy and part of the mark we were working was early stage, venture backed businesses but also late stage public and private corporate and vc and pe funds. it is really important last 90 days that we show the ecosystem it is business as usual and we have not changed how we support them for

it's not a very big call and we always highlight that we still have allocation to equities. tomhow do you maintain dem of versus dm bias -- em versus dm bias. there was a lack of response in terms of fiscal policy, china is not playing its role in em. anita: absolutely right. we keep evaluating em. we do not have an overweight china call. we've been slowly adding more to india. we are definitely evaluating china. there has been continued hope the low valuation and restrictions being removed but we are not saying that yet buy into the numbers we are seeing. tom: on japan, it's been a bit of a favorite year-to-date, gains of about 40%. is the window closing on getting exposure to the upside for japanese equities? anita: i wouldn't yet exit japan. i would maintain japan for japan markets are poised for return on equity to go up, more capital expenditure from japanese companies. the weakened yen and exports. i would state invested in japanese equities even for the medium term. short-term, medium-term. it's also a great way to play ai and technology away from the u.s.. tom: talking o

tom: they called micah con boy. they did. it was excellent. hammocks are au get in, you fall asleep, you wake up, you have to get out of it you can't linger. >> emily: then two people can't be in it. >> tom: oh, come on, i was in college. >> greg: that means you were alone? >> tyrus: he was there to study greg. he was there to study. he went to college to learn, not to mingle >> kat: nobody has sex in college. >> tyrus: that's ridiculous. >> tom: i know they do these days but this was the 1980s no sex in college. >> greg: emily what are your thoughts on not having sex in college or b, this topic which makes no sense. >> emily: he'll take b. i find all of them disgusting. it's like they're filming and celebrating getting bed soars. everyone is lazy and filthy and i'm sick of it. also given that all of us in new york are sort of crammed together in sub ways and walking and everything, you can smell when someone spends too much time -- you can smell it in their hair and on their clothes and i find one more reason why this generation should be -- you fill in the

francine: a perfect birthday present, manganese. tomin a box. >> my retirement will be a rock of lithium on my desk in berlin by 2050. tom: thank you for the comprehensive of report. we will be live from superreturn's conference in berlin. we will speak to the chairman of europe at bc partners. european equities down 0.2%. yields are up. the bond selloff continues. u.s. futures down 0.1% on the s&p e-mini's. this is bloomberg. ♪ francine: welcome back to the open. 30 minutes into the european trading day. global equities and bonds dropped after two surprise rate hikes this week served notice that the inflation fight is not over. traders boost bets on a july increase by the fed. rishi sunak goes on an american charm offensive, as he looks to strengthen economic ties with the u.s. lionel messi turns down $400 million a year from the saudis, the football player will join david beckham's u.s. team i nter miami. inflation freak out is changing what bonds are doing. tom: shaken out of complacency by the rba and bank of canada this week. europ

manus: lizzy burden with a preview on -- tom: lizzy burden with a preview on a very big day. now let's bring in charles white-thomson, ceo of saxo capital. you flagged 5% terminal rate for the boe, looks like we could be getting to 6%, how has your view changed? you got some feedback, how are you pricing the boe now? charles: my view remains unchanged and that inflation is public enemy number one. inflation is a widely, and a strong, and a difficult enemy that we need to deal with. my concern is that we are behind the curve. tom: does that mean they go 50 today? they should and they could? charles: they should. tom: willow bay? -- willow bay? -- will they? tom: no they will not. --charles: no they will not. we are looking at 5%. we are seeing mortgage rates at around 6%. when we read office financials to statistics and we look at the inflation print yesterday, really disappointing. i find it very difficult to see any positive indicators there. cars are marginal for me. who declined -- food decline driven by cheese and eggs going down to 25%. that is the cost of living crisis.

i'm sure they will have to deal with this for a couple of weeks. tomressure will build for a plan to be outlined by siemens energy on how to deal with these challenges. what else is standing out to you? is this an idiosyncratic story? it sounds like it is, what else is standing out in another week a pretty significant downside for equity markets? >> the main story in equity markets and siemens energy is a good example is that investors have pushed aside all the risks over the last couple of weeks. recession is only on the horizon, a mild one, everything is good. everyone has piled into stocks again. everyone is rather bullish for overall sentiment, and believe that company profits will hold up well. we have all the ai and technology stuff adding to the positive sentiment. when you have a market environment like that moving into the summer where volume is notoriously low, that is never a good combination when you have bad surprises. francine: jan-patrick barnert with the very latest on siemens. ukraine's prime minister plays down concerns that future ai

of a, a k, a tom lee is considered the most dangerous times we fund way was sort of the as we say, the poster child for the, the proliferation problem. and then it is said, no one has ever seen a tone in the side of the super powers. the world's most dangerous wanted dogs, june 29 on dw, the search, the launch of chat, g p t. it's clear that what ones seem to be the stuff of science fiction is here now with the potential to transform our lives. some say artificial intelligence will enhance human capacity as well. the others, including some of the very researchers developing the new technology.

a lot of big news later on. i'm not seeing the italian pmi yet. tommonth of may pmi falling to 45.9, slightly above the forecast of 45.8 spared it is a reminder that is in contractionary territory. france manufacturing data coming in below estimates of 45.7. it underscores divergence between manufacturing and services part of the european economy. let's get to an important interview that we set up yesterday. lessard says the u.s. will eventually be hurt by financial problems and lifting the debt limit will not resolve underlying chronic issues. peter told us more about the headwinds. >> normally when m&a falls as much is that has over the past two years you see a boon in restructuring and that has not yet happened. the reason is twofold. we do not have a recession which is what normally happens when m&a comes down this much. secondly is the expansion of lending over the past five or six years. more than 86 6% of the lending the past few years has not been triggering the covenant as early in the process. it does not mean will happen. a means it is dela

now on to the haunted s b i c, i a and most of us have been waiting to hear the song of a k, a tom lee the most dangerous times we fund way was sort of the as we say, the poster child for the, the proliferation problem assigned to them and then it is said no one has ever seen a sold in the side of the superpowers fugitive right now. the world's most dangerous where is, is wanted dogs june 29 on the w.

a year. now, i'm happy this on here. i'm safe but it's this appointment for me that i'm listening with my time. and they, by they, it will be blowing from the background. if enough, guns, tom, my family has noon to me, but when you go out and see a member of the tyler bomb on your cost, you should change direction to shouldn't. who right post them the to i do judge. sometimes she's without a male companion because the father is the sole bread winner and often those around the get. i found a piece of stuff from a down the line, but that was sticking to my mother's mouse interested. i'm, i'm tired. i want to take my mazda golf below it to make a wish to not because we ask guns, believe it brings luck, me as major. we have the my father and my family, and my cousins. they told me that you're supposed to leave foot. so it was a difficult for me to honor that for me that i have to live in less money. i'm select a capo shortly before the tale bond took over such a 1st attempt to escape. i've gone to stone failed. i went to airport. there was it called it a lot a few far as i did. i was near the door and they get suddenly and they in a moment for the see and a lot of people that

the song b, a k, a tom lee, the most timely fund way was sort of the, as we say, the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a stone in the side of the superpowers fugitive right now. the world's most dangerous. where is, is wanted dogs, june 29 on dw, the overtaken in the own market, searching him ports of chinese electric cars have germany's phone groat and auto industry checking the refuse mirror from milton life back yards to yes, please. wind turbine builders finding ways to win over the low cost, the state of your business on my thoughts invalid and welcome to the program. chinese made electric cars fast becoming a major force in the vehicle sector with toner itself and one's been a key target market for jim and comment because now the tables appeared to be tending more than a quarter of the electric vehicles being imported into germany coming from china building on chinese dominants back a. ready me, nancy, that's a nice government could hardly wish for a better car buyer. 6 months ago, she bought an electric c

the funds a k, a tom lee. the most timely fund way was sort of the, as we've.

nissan b, a k, a. tom lee, the most timely fund way was sort of the as we say, the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a stone in the side of the sea to kali's. fugitive right now of the world's most dangerous. where is he? is wanted thoughts june 29 on dw, the business he w. news live from berlin. presidents let them, here's the landscape confirms ukraine's counter offensive is under way the landscape says counter offensive operations are taking place but refuses to go into detail. both sides say there's been increase finding along the front line also on the show.

a short break section for that the f b i c, i a and most of us have been 20 years nissan of a k, a. tom lee. the most timely fund way was sort of the as we say, the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a sold in the side of the superpowers fugitive right now. the world's most dangerous where is, is wanted dogs june 29 on the w. the dancing is a very, very big part of my life. it's the, it is my passion. a jeremy would have had a dancing van. it's kind of like, i don't know, cutting one of your fingers off in a way to but someone is holding you back from doing something in the islamic republic of the ron. dancing is banned. many people still do it popular. they've videos as a form of protest. they un for more freedom, especially women whose lives have drastically changed for the worse since the rainy and revolution. now, many are protesting the secrecy at home and abroad. there's so much things i can say with that with, with my art form and to touch people and to inform people the, the ability i have to actually have

piers: well, i mean, it's a good question, tom. d of course the role of the military in zimbabwean politics and economics is an arena where there's much contested debate. there is clearly a growth since the coup in 2017, military interest in terms of personnel being deployed into the economic sector and into areas of the administration and political sector. this is not a clear-cut issue of men in uniform puppet mastering the politicians in front of them. this is a unique zimbabwean version of military influence. but there are very clear indicators that the military's political partisanship, which places in the past have articulated very clearly their partisanship towards the incumbent zanu-pf. but the guarantees in the 2013 constitution about noninterference by the military and so forth are simply not worth the paper they are written on at this juncture. i mean, there isn't clearer evidence of their involvement than the coup itself. and then of course the fact that the vice president is the former chief of the defense force, and ver

the son of a k, a tom lee, the most dangerous timely fund way was sort of the, as we say, the poster child for the, the profession problem assigned to them. and then it is said, no one has ever seen a soul in the side of the superpowers fugitive right now. the world's most dangerous. where is, is wanted dogs june 29 on dw the of the drudge commodities waiting for customers at the old site. she has a young baby to feed at home and a family to support. so 5 new lot dodge commodities, one of the hundreds of thousands of indian women, an institutionalized fix was in a practice with roots in the 8 o cost system. the just 3 hours away from india as capital in new delhi is a stock lead, defend wood. i'm traveling to a cluster of villages known for sex book. this is k go lee, a village in the district of oliver in the state, orthodontist time to meet on get that. who is the 6 woke up at her request, we have changed her name. she says she's of legal age but doesn't look it. you guys get things ready for applying. hook lines include mean some nearby villages trump drivers or migrant workers th

if you can see, i see i and most of us have been waiting to hear the song of a k a tom lee the most dangerous time we found way was sort.

the son of a k, a tom is considered the most dangerous i am we fund way we sort of, as we say, the poster child for the, the proliferation problem at sunset. and then it is said, no one has ever seen a throne in the side of the secret fugitive right now. absolutely nothing is right here. the where? who is covering the wanted stats june 29th on the w. the, the this is the deadline use live from goods and evaluations, picked up across the floods affected areas of view crime process is it has moved to thousands of residents in the wake of the cars get den, bridge restful has lost a 3rd of its water level and is yet to fully collapse. also coming up, donald trump faces criminal charges of the mishandling of classified.

the son of a, a k, a tom lee is considered the most dangerous time. we fund way was sort of the as we say, the poster child for the, the proliferation problem. and then it is said no one has ever seen a stone in the side of the super powers. the world's most dangerous frontage . dogs june 29 on dw the . this is dw news, and these are our top stories on a trip to china, us secretary of state on to me blinking has emphasize the need to keep communication channels, hoping to avoid any miscalculation.

the son of a, a k, a tom lee. the most dangerous times we found way was sort of the as we say, the poster child for the, the proliferation problem assigned to them. and then it is said, no one has ever seen a stone in the side of the super powers fugitive right now. the world's most dangerous. where is wanted dogs, june 29 on dw, the in sierra leone i health crisis is looming to 90. they tells me the hospital i have diabetes. patients will often die because they don't have access to insurance. i'm not keen, wealthy countries, sierra leone has a severe lack of drugs used to treat diabetes. so they say, if you have it, you're already dead or living, corpse. diabetes is a life threatening disease. what do you do? my body was weak. i couldn't do anything. sierra leone lines on the west coast of africa. it's one of the poorest countries in the world, the how one, not tube, under a. how is 15? like many diabetics, she has high blood sugar and sugar in her urine. but i'll be new. at 1st i didn't realize i had diabetes tw

all the, the visual pieces of a complete tom to go to bed a few walls of another hunt. i also put them on tom there. how does it say guard when i find out how i can buy when we take down old rebuild the hot. so it takes a lot of people to that. how did this logistically? it's a big effort that also costs money. what is so it is very tedious. what started monitor the vehicle, some of the buses, but we towers help each other. i mean that if i decide to take down my house today and tell the neighbors they come right away me, i want to have decided with them. if i hear that another neighbor is relocating with it. he tells me, oh no, it's on my guard. i go there and help take down the hunt, transported away and rebuilt it this i think we'll try to move on quite a little charles, help each of the disorder and one on a set of some of this as the to do some on and his family have to stay with relatives until they find a safe place for a new home. the river is rising, the as unstable as the charts are. the land and farm land on them are still surveyed and entered into the land re

the song of a k, a tom lee considered the most dangerous times we fund way was sort of the as we say, the poster child for the, the proliferation problem. and then it is said, no one has ever seen a stone in the side of the super powers. the world's most dangerous wanted dogs, june 29 on dw, the this of the top, your news and these are the top stories. the us secretary of state avenue blinking has set the free and uprising industrial exposes cracks, invest a lot of me, fulton street leadership, click and describe the under building as extraordinary, and says that the more it may not be over.