an interview with benoit coeure from the ecb.oins me for "bloomberg surveillance." ♪ ♪ francine: pressure mounts for may. the u.k. prime minister faces furious party members later. is a softer exit in the cards? increasesacron control of his party gets majority control. to more rate hikes in a shanking of the balance sheets before the end of the year, despite slowing inflation. good morning. this is "bloomberg surveillance ." i am francine lacqua in frankfurt with an exclusive ecb conservation -- conversation. tom keene is in new york. tom: we are going back to 1922 or 1923. the committee meeting the prime minister will be in is really going to be something, isn't it? francine: yes. 1922. and in the french area, we go back to 1933. coming up, we have the exclusive conversation with benoit coeure at 11:30 u.k. time. let's get to the bloomberg first word news. here's taylor riggs. taylor: a showdown in london that could signal the end of prime minister theresa may's time in office. she meets with furious lawmakers from her own part

ecb executive board member benoit coeure spoke exclusively to bloomberg's francine lacqua about his outlookflation in the eurozone. benoit: we are still not seeing inflation where we would like it to be. still not seeing the criteria that we set for inflation to be sustainable being met. you need a sense of patients here -- patience here. francine: how sean a nightmare of -- is stronger gdp? benoit: it is unqualified good news. we changed our communication to adapt to the changing reality. arelso shows the measures working. the jobs being created in the eurozone the last three or four years, a lot of them have been created thanks to the economy. mandate.inflation when it comes to the next steps, we have to focus on inflation. francine: why was tapering not discussed? benoit: it is too early to discuss it. we have to acknowledge the changing reality. i would discuss a lot the situation. there was a sense of progress when it comes to inflation where in spite of the inflation being done, if you look carefully at the stock forecast, you will see inflation is dependent on our monetary policy mea

joe: that was ecb executive board member benoit coeure with bloomberg's francine lacqua.bloomberg business flash. j.crew will announce a debt exchange that will allow the retailer to push out is near-term debt maturity. offer -- say they it comes as the longtime ceo announced he will step down and service chairman going forward. general electric has secured u.s. antitrust approval for its deal with baker hughes. the agreement will create one of the biggest oilfield services companies. ge won approval last month from regulators. video gives ge a 62.5% stake in the new company. and it could close as early as next month. shareholders of honeywell are resisting calls to spend on its aerospace unit, according to ceo david cody, who tells bloomberg investors are worried about losing potential paydays on recent investment. that is your blis business flash update. julia: we have more news on the new ge ceo john flannery that was announced this morning. they are said to have sent his salary at $2 million. he has a target bonus at 150% of his annual2017, an target bonus will be $3

scarlet: that was benoit coeure.powershares qqq to etf, which tracks the performance of the nasdaq 100, down for the past two days. this is bloomberg. ♪ julia: this is "bloomberg markets." i am julia chatterley. scarlet: i'm scarlet fu. time for the "options insight" with julie hyman. head ofoining me is the institutional equity derivatives at oppenheimer and company, here at a perfect time, because we're talking about technology. we have been talking about the selloff we have been seeing. you guys were sort of turning on tech at the beginning of last week, or go for the current selloff happen. why were you getting a little shorter on technology even before the turn in the market? >> i would say is illegal move year to date, if you look at the qs, massive outperformance versus the s&p 500. we reached a point where the bullish sentiment hit over 90% and everyone was talking about how crowded it was from whatever acronym people are using now. we saw an opportunity where it someone wants to protect their portfolio and d