this is bloomberg. ♪ is is bloomberg. ♪ kriti: this is "bloomberg markets." the u.s.r is holding strong amid inflation rises in interest rate hikes. that is according to bank of america's ceo spoke last hour with our own david westin. they also discussed the direction of the whole economy. brian: our core estimate in our research team, one of the best in the businesses, is 3.3% for 2022 and 1.8% for next year. that includes significant rate rises by the fed, so there is a belief there that the fed gets it right, that they have a soft landing, that they return to trend growth as the saying would go. there is debate around that. while they have to engineer a harder landing because of the amount of inflation in the system has to be pulled back. into the second point, what is different this time than say the last rate cycle where they moved up in the 18 to 19 rates, even though unemployment is down, at that point, 19 wages were not growing fast, wages were growing very fast. customers had money in their accounts but not like today because of the stimulus dollars. at that

bloomberg, founder of bloomberg lp and bloomberg philanthropies.g up, treasuries in their worst selloff in more than two decades. we look at the outlook, next. this is bloomberg. ♪ shery: it is time for morning cause ahead of the issue trading day. u.s. bonds and stocks are too sanguine on the economy according to morgan stanley's strategist p he says the stock market -- strategist. he says the stock market could have a slowdown. it suggests growth is not only fine but likely to remain robust. he says cyclical stocks will be most at risk in a reversal. chinese stocks, investors are looking past the current covid lockdowns according to goldman sachs. the markets are instead focusing on hopes of more aggressive and decisive policy easing and this of course on the areas where this might be the most noticeable including property developers and some infrastructure related names, paul. paul: thanks. we are getting a little bit of breaking news on the bloomberg terminal the moment from handel group, rejecting perpetual's indicative take over proposal. the

this is bloomberg. ♪ dani: welcome back to bloomberg daybreak: europe. central bank has announced a state of measures to help the economy which have been hit by strict covid lockdowns. many major cities trying to control that fast covid outbreak. i, head of equity strategy is still with us. before asking anything on china, i know manus has asked specifically on china bonds, i think you have to kick off without. manus: i found a fact in the brakes, anita says -- she is part than i am. china is slowing down, grappling with zero covid, with small, incremental costs. one thing that caught my eye, you been long on chinese treasury, you quite like them, that yield you're getting is dissipating to almost zero. global selling, -- global selling of treasuries is at the fastest pace since 2015. are you bathing on your china deposition. anita: i would not recommend are -- our positioning. what i would like to say is that the reason we are in market equities right now, the growth differential between emerging markets in developed markets is not there this year. if y

this is bloomberg. ♪ ritika: this is bloomberg markets. looking at a live shot of the principal room. coming up, dr. fauci joining bloomberg television and radio. this is bloomberg. ritika: keeping you up-to-date with news from around the world, here is the first word. the u.s. and eu are preparing to impose more sanctions on russia after the discovery of those alleged atrocities in ukrainian towns abandoned by retreating russian forces. according to the white house, penalties will be increased on financial institutions and state-owned enterprises, plus sanctions will be placed upon unspecified russian officials and their families. a veteran hong kong official plans to run for the city's top job. jon li's announcement is a sign that beijing wants to deepen its crack on dissent. media reports that china's liaison office has said lee has aging's blessing to succeed. china has reported more than 20,000 new cases of coronavirus tuesday. the increase was driven by surging infections in shanghai. authorities are building the world's largest make

this is bloomberg. shery: samsung relations first-quarter earnings this hour with expectations for a big jump in profits, we will break down the numbers. a global advisor sees the positive earnings season for the fourth quarter, more on that ahead. this is bloomberg. ♪ >> my colleagues and i've may reach the conclusion that we need to move more quickly. faster is better. if it is appropriate to raise interest rates by 50 basis points, then i would think we should do that. >> 50 basis point is going to be an option we will have to consider. >> maybe a 50 helps, i'm open minded. >> if we need to do 50, 50 is what we will do. >> 50 basis point should not be off the table. >> it could be 25, it could be 50, it could be 75. >> these are methodical hikes. >> their economy is very strong and well-positioned to withstand tighter monetary policy. haidi: fed officials raising the policy of a 50 basis point move in may. let's begin our next cat who says inflation could surprise to the downside. he is the people fo

this is bloomberg. ♪ kriti: this is "bloomberg markets." i'm kriti gupta.ething that caught my eye, two things that usually don't go together, crypto and mortgages. a lot of the crypto volatility we saw early on, five, six, 10 years ago, elon has dissipated. --a lot has dissipated. does that make it a more acceptable currency, a commodity? something that is starting to seep into the real-estate market and we are seeing mortgages secured in part by bitcoin holdings, in theory him -- ethet reum holdings. there was a question about what happens with future mortgages. can you secure a mortgage with something that is so volatile and which some people have said could go as high as 100,000 per dollar to zero? coming up, it's a mixed bag for earnings. we will talk about canadian oil sands and the fall of boeing. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig.

this is bloomberg. oomberg. ♪ >> it is probably about 50%. usually about 60%, but about 50%. but an important point to me is how deep a recession. i think the odds of a really deep recession, you know some people are raising those shades of paul volcker and the deep recession we had than. i think that is very, very unlikely. extremely unlikely. shery: that former fed vice chair on the possibility of a u.s. recession. our next guest says equities can do fine if the fed hikes are slow-and-steady. with us is ellen hayes and, chief market strategist at putnam investment management. good to have you with us. you have the likes of deutsche bank saying that we could see the most aggressive tightening since the 1980's. how are you positioning in terms of a recessionary outlook in your market allocations? ellen: so, looking at 2022, we don't think a recession is likely this year. but no question, the stakes have become higher even in the last few weeks as we have seen at the federal reserve become more hawkish i

this is bloomberg.aidi: still ahead a former star , joins us to talk about equality or the lack of it in the halls of power. the yield curve inversion should show caution but does not signal recession. we will discuss more. this is bloomberg. ♪ >> the fed governors are speaking more hawkish leave. >> we've heard from others over the last week or so. >> 50 basis point rate hikes are in fact on the table. >> they are likely to go 50 basis points in may. >> more than one is in fact possible. >> the market is welcoming these hikes. >> may 4 meeting. >> and the need to start cutting down. >> certainly not an easy position for the fed. >> they are trying to keep this forward guidance here. >> trying to re-anchor inflation expectations and trying so hard to get a soft landing and retain inflation cut ability. >> the job of orchestrating a soft landing is going to be difficult. shery: some guests on bloomberg tv. take a look at we continue to see that global bond ground right now, the tenure at the highest sinc

this is bloomberg bloomberg dani: this is "bloomberg daybreak: europe." are the stories that set your agenda. massive oil release. president biden is tapping the strategic petroleum reserve. moscow says russia will continue supplying gas to europe as they continue demanding payment in rubles. plus we assess the damage from a tough quarter for investors in the economy. we discussed with mohamed a el-erian. it is friday and it is the first day of a new quarter, a historically bad quarter across the board. let's see how they are shaping up for the first day of the second quarter. you are seeing some bond selling and yields pushing higher by four basis points so the 10 year yield and nymex crude at $99 a barrel. that is huge after the u.s. announced an spr release and there is a weakness for the yen. developed countries are under unprecedented pressure as the covid pandemic shows signs of easing but they are being squeezed by more supply chain issues, inflation, and all of that stalling growth prospects. plus all of those are topics that are being discussed a

this is bloomberg. kriti: this is "bloomberg markets." i'm kriti gupta along with jon erlichmann. we're looking at kimberly-clark shares, the highest move in over 20 years, has everything to do with the consumer. we're going to talk about can it actually last? joining us is down is jeff and shinali. in the bloomberg newsroom. talk to us about these earnings? i think what's so striking to me, we're talking about earnings season. we're talking is this peak margins, peak growth? here we are seeing kimberly-clark talk about 10 pours organic sales. we saw the same thing from procter & gamble. what is going on? >> it's an about face. something investors wanted to hear, especially from the consumer facing companies because going in the earnings season and especially with all of the inflation data, decades high for recent months seeing that. jess: how is the consumering handling this sdm kimberly-clark, makers of huggies, they were able to move past this volatile inflationary environment and raised their sales outlook for the rest of the year. they did note there still could be potential

this is bloomberg. haslinda: still ahead on bloomberg markets: asia, we will gauge the effect of pakistan's political and economic crisis on women. who already face low wages and limited legal protections. human rights activist joins us later. keep it here with us. this is bloomberg. ♪ >> yesterday i returned from our city, recently liberated from russian troops. not far from kyiv, so there is not a single crime that they would not commit there. the russian military's search purposely killed anyone who served our country. >> the french president made it clear yesterday that he wants open that she was open to extensive sanctions. we will see what the position of the other number states will be. but i think that there is a possibility to have unity on these new sanctions and i hope -- the position of other states that we keep the position of the french politicians very clear. haslinda: that was ukrainian president and french finance minister on the latest attacks in ukraine. rishaad: ok. let's find out mo

this is bloomberg. paul: expert advice on how to value and manage carbon assets as an asset. that is coming up later on. rapid declines in the yuan adding another dimension to the selloff and the strategies for site inflation. this is bloomberg. ♪ >> the chinese element of the store is dominating. >> china is continuing to be very strict. >> a big policy ever. >> intensifying across the board. >> stocks running out of steam. >> china is one of the factors. >> all of the cyclical dynamics are unprecedented. >> that added to inflation. >> it is hard to make long calls. shery: some of the conversations we had on bloomberg tv. our next guest says the rapid decline in the yuan as another dimension to the selloff and sees outflows in bonds and equities. the head of asia strategy, it is good to have you with us, the chart on the bloomberg showing the outflows from chinese capital markets. hitting a record high, will valuations help here? >> first evolved, what we are seeing is more outflow today than we had in

this is bloomberg. ♪ . ♪ : this is bloomberg marker the european close.he occupyon pacific c.e.o. lance fritz joining us on balance of power. this is bloomberg. ♪ : here's the "first word." in china the president has defended the country's reliance to fight the coronavirus. despite mounting economic would hes she reaffirmed the underlying goal. in a video steve to an asia forum. chinese is in the midst of the worst covid outbreak since the beginning of the pandemic. hong kong is beginning a slow mass to normality. sports facilities and gyms reopen. restaurants will stay open later and people can meet in larger groups. more restrictions will be raised in the next few months. and a $325 million super yacht tied to russian gold billionaire won't be leaving the south pacific island nation of fiji. a court has ordered the detainment of the yacht. the u.s. has a warrant to seize the vessel as part of sanctions imposed following russia's invasion of ukraine. 24 hours a day on bloomberg quicktake powered by more than 2700 journalists in more than 120 countries. t

this is bloomberg. ♪ bloomberg. ♪ >> this is very clear.the short-term as i said before, 2022 is going to be a transition year. shery: the credit suisse ceo speaking to bloomberg after the bank shook up leadership. some of credit suisse's struggles stem from the closure of archegos capital which cost the lender $5.5 billion. today the archegos founder was arrested year after the collapse. prosecutors say he was behind a vast criminal scheme to mislead banks and manipulate markets. let's bring in bloomberg executive editor tina davis for more. what is he being accused of? tina: he and his cfo are charged with 11 counts including market manipulation, attempted market manipulation, racketeering, securities fraud. it is a lot of charges and adds up to potentially a great deal of prison time if he is convicted. haidi: the details of what we know from this case is much more interesting than what we knew previously. what is the government alleging here? tina: according to the government, roundabout march 2020 when the pandemic began, bill started

this is bloomberg.heri: still ahead, we analyze the significance of amazon's union election and what it implies for labor rights and corporate culture. plus, the dollar is king. the cries raging across currencies as the yen tumbles. this is bloomberg. ♪ >> this is the currency market vigilantes. >> the driving force. >> because of yield differentials. >> it is up by 10% to 15% over two months. i think that will be a cause for concern. >> the dollar yen could push higher. >> the longer term chart continues to point to 150. ultimately that's where this is going to >> it is impossible to control the yen. >> this is a new macro regime. the risk premium has to go up everywhere when you are seeing these types of moves. sheri: the yen tumbles. an interesting call from goldman sachs strategists, seeing high risk of intervention as the yen keeps falling. also saying it won't really change the fortunes of the battered currency. other analysts thinking it is all but inevitable the yen falls to the 135 label. lehma

this is bloomberg. ♪ kriti: this is bloomberg markets.e were just talking about twitter gaining today after reports that is in the final stretch of negotiations for a $43 billion sale to elon musk. let's bring in shelley. this could rank as one of the biggest ever celebrity buyouts of a listed company. >> let's take a look at how big this deal is. another deal announced this year by blackstone, this is a $71 billion deal. but you have to go back to txu before the financial crisis with a more than $40 billion deal. there is a chance that with a bigger equity portion of this check that twitter could succeed txu. it would be the second-biggest deal of all time if you count atlantia. a lot of these deals happened before 2008. that was late stage behavior. the texture of private equity since then has changed. another big factor is you have major billionaires able to put in more money outside the deal. we want to talk about this more with nate taylor, head of private equity in an exclusive interview because his business raised a record fund at

this is bloomberg. ♪ matt: this is "bloomberg markets ."e for the stock of the hour. it has to be jp morgan today. kicking of bank earnings. the shares are lower by more than 3% after the results were clouded by a loss of $524 million tied to volatility caused by russia's invasion of ukraine. sonali basak is here with more. it seems like almost every bank is reporting tomorrow. but was the opening salvo like for jp morgan? sonali: bank of america on monday. four tomorrow. it will be a long day. goldman sachs and morgan stanley reporting at the same time. that will be a lot to absorb. we want to see competitive training here -- trading here. it did not fall near as anyone expected. it only fell about 1% which is good for goldman. matt: we were looking for a drop in the beak the street's estimates by like $1 billion. sonali: that's a good sign, especially currencies and emerging arc is for really solid gains. citigroup is another place that could bode well for trading if they are able to keep those numbers. the other thing jp morgan said that

this is bloomberg. shery: after the worst quarter since 2008, credit markets are on pace for the biggest annual loss ever as the fed rushes to sustain inflation. we will get the view from credit suisse. and the rba is under pressure to begin tightening as the fuel prices go higher. we will look at this with katrina ell. this is bloomberg. ♪ >> is a white-hot labor market. >> the labor market is white-hard. >> the economy is red-hot. the labor market is red-hot. >>. >> this is an economy and labor market that is overheating. the fed has to accelerate. >> the fed has been behind the curve. >> probably around 100 basis points behind the curve. >> it makes sense to get some 50's in when you have an economy that is moderating. >> we are going to see slower economic growth and fed rate hikes. >> i think they will do that in the next couple of meetings. >> the fed is expected to hike much more aggressively than it did in the previous cycle. >> today's report only will reaffirm that view. haidi: our guests earl

this is bloomberg. yvonne. yvonne: like we mentioned earlier when it comes to the u.s. 10 year yield, reaching 2.5 percent for the first time since 2019. it is a global bond selloff that has been furthering for another day because the aussie 10 year yield is touching 3% for the first time in some years as well. and to the china 10-year as well. it is still a lingering story as mark had mentioned. we still have the u.s. numbers such to come this week too. haslinda: and all of those inflation concerns and how aggressive the fed is likely to be. still ahead on "bloomberg markets: asia" we speak exclusively to tessa wijaya. we also discuss the situation as the war in ukraine rate is on. that is next. this is bloomberg. ♪ yvonne: russia's war in ukraine has concerns for china's ambitions over taiwan and similar things occurring in asia as well. the risk of asia impacting taipei has increased since the war started. we are joined by andrew gilholm, control risks principal and director of analysis. we're speaki

this is "bloomberg surveillance" on bloomberg radio and bloomberg television. jon ferro, tom would say, is on sabbatical. i will say it is vacation. kailey leinz is with us this morning. we've got the q1 earnings kicking off, the ecb meeting on thursday. how much is the scenes that are really 10-year gilts rising to the highest going back to 2019? tom: all we have done is set the table this morning. one is that in flirt -- is that important inflation report tomorrow. there is some data. all you have to do is look at the headline data, 8.4%. i guess that is a boom nominal gdp for a while, but then what? lisa: is it headed upward? how much upward? or is this the plateau, the peak? wednesday's earnings kickoff may be more important to markets given the forward look then even the cpi report. tom: there is a great division here. there's people looking at an average 5% earnings growth, people who underplayed it. mike wilson's they very cautious note over the weekend -- mike wilson with a very cautious note over the weekend of morgan stanley. to me it comes down to th

this is bloomberg. david: for our bloomberg television and radio audience wide, and our special guest dr. anthony fouts he is with us, director of the national institute of allergy and infectious diseases. thank you for being back with us. what are the prospects for another wave of this covid-19, whether it be some other sub variant, given the level of immunity we believe we have in the country today? >>>> to accurately predict for the following reason. you are correct that when you combine the immunity that many people have following infection with the immunity that people have been vaccinated and hopefully boost it have, there is a significant amount of background immunity. we know that the omicron da-2 - omicron is highly transmissible and the da-2 has a transmission advantage. if you look at what happens in other countries, we usually follow their pattern. take the u.k. as an example. they have ba2 and they've done to other things. they have the virus we have in our country, about 75% are ba@. they'

this is bloomberg. a >> welcome to bloomberg markets. romaine: here the top stories we are following. jobs day here in the united states. or than 400,000 people suggesting recovery in the labor market. we will speak to one restaurant tour on the tactics the industry is taking. china stocks trading in the u.s. are rallying. authorities in beijing are closer to resolving a dispute with securities regulators in washington. >> let's start with a quick check of the major averages. the first day of the new month and quarter. in the first quarter, it was the roughest we have seen in a couple of years. we did see a healthy rally for some of the hardest hit stocks from the midpoint of march into the end of the month. some cautiousness as we start the new month of trading especially given what we sell with the jobs report today which adds to the idea of an aggressive u.s. fed going forward. let's talk more about the jobs highlights. the payrolls number coming in at 431,000. we saw a revision for the month of february. the average hourly earnings s

this is bloomberg. ♪ jon: this is "bloomberg markets." what it's worth, how about 44 billion dollars? that is what elon musk thinks twitter is worth after the blockbuster announcement yesterday and we have been getting a lot of reactions to that price tag and the deal. have a listen. >> the offer, accepted. the biggest criticism of twitter over the balance of the last decade or so, the company has had a public company, has been that frankly they haven't innovated much in the platform is essentially the same as it was. the biggest question is how did the board buy into this? ultimately they had no backup. this tells you how weak the company was. >> i'm more interested in knowing who's going to run the company, how will they be investing, how is the platform going to change? it >> i'm excited to see what he's planning for the private company, he's a visionary and i'm excited to see how it plays out. jon: we obviously have a tremendous deals team at newburgh and many of those bankers saying they have never seen this kind of speed, going from

this is bloomberg. jon: welcome to bloomberg markets.e are the top stories from around the world. a historic confirmation with three senate republicans supporting her, judge jackson is a set to win a seat on the u.s. higher court. canadian prime minister justin trudeau is said to deliver a budget that will deliver revenue when files -- windfalls from oil program to new programs including billions in spending despite the record deficit from the pandemic and additional inflation that may ensue. it's time to play ball. today is the opening day for baseball. we will speak to the toronto lucchese ceo and president mark shapiro about how vaccines affect players that need to travel across the border. jon: let's take the score of what is happening in the markets on this thursday. there is a lot of red in equities. the s&p is close to the flatline but still down. the nasdaq is more so. we are off our weakest levels of the day. as an extension of the reaction to the fed minutes yesterday, fighting inflation with higher rate and certainly pulling b

this is bloomberg. ♪ david: welcome back. you are watching bloomberg markets. equity markets.ong kong. mainland, the fx space. everything else on the others either this one. a steady climb in the u.s. dollar. the bloomberg dollar index is headed for its best month in 10 years. there we go. there is weakness in the euro, an energy crisis in europe, and the yen, boj, what it can and should do as far as the currency and yield curve is concerned. all of that. we welcome our guest now. he will talk us through this. first, pleasure to have you. good morning. thank you for getting up early. let's start with the fx space. all the volatility we are seeing as far as that is concerned. what are you telling your clients on currency exposure now? >> now, we are focused on the dollar. there is more dollar strength coming in the summer months because there is only one name in town, the fed, as we move into may, june, july as well. and so, the pressure on the dollar to be up will carry through the early part of summer, we think. david: ok, you are in europe. from the other side to that, do yo

on vonnie quinn, this is bloomberg. haslinda: still ahead bloomberg markets: asia, with talk to cba about the global supply of grain. president biden says president putin is a war criminal must be held accountable. more on that next. this is bloomberg. ♪ >> you may remember i got criticized for calling put in war criminal. but we have to gather the information. we have to continue to provide ukraine with the weapons they need to continue the fight. and we have to get all the details to have a war crimes trial. we have to get all the details so this can be an actual war crimes trial. the sky is brutal. what is happening in mucha -- bucha is ridiculous. haslinda: that was president biden, escalating the record against vladimir putin. as russian troops stand accused of committing war crimes in ukraine. rishaad: let's bring in our bloomberg opinion columnist who says what is happening in bucha is an event when it comes to tactics in the kremlin. thank you for joining us. this is something, out of brush and you and chechnya,

bloomberg markets europe will have the rest for you. this is bloomberg.elcome to "bloomberg markets europe." the cash trade is just less than an hour away. here are your top headlines. piling on the pressure, u.s. treasuries offer dollar debt payments through american banks. germany takes over gazprom unit

we will have it all on bloomberg tv and bloomberg radio.tocks at session highs and the dollar at the highest in 20 years. with jon erlichman, i am kriti gupta. mark: here is the first word. i'm mark crumpton. cities across china are rolling out swift measures from mass testing to lockdowns for a mere handful of coronavirus cases trying to keep flareups at bay and avoid the hardships endured by shanghai. china's lockdown is inhibiting global supply chain progress. >> the headwinds that have came up are obviously the pandemic and the pandemic effect in china. shanghai has been locked down for almost 50 days now. the longer that goes on the harder it cuts into the supply chain. mark: china's swift action to contain the virus reflects the growing stakes local governments face in wrestling with the highly infectious omicron steering. --strain. today biden and congress provide 33 dollars of economic and humanitarian aid to ukraine, giving the

this is bloomberg. ♪ guy: we are still looking for that in bounce -- that emmanuel macron bounce in the equity market. today we see the cac 40 is underperforming. let's talk about what we are seeing and try to expand that market reaction. roland kaloyan, head of european equity strategy at socgen, joins us now. is this a classic case of it being better to travel than arrive? the market had been anticipating we would see a macron win. now we've got it, we need to focus on other things. roland: the thing is that we had a lot of uncertainty with this election before the first round. after the second round, what we have seen is the momentum that the victory of macron is clearly something that pushed investors to reprice in the market. so i would say that today, the impact is pretty limited. you were mentioning the cac 40. the thing is when you look at this index for the french economy, for the french equities, we have to think about an index which have luxury goods, carmakers, oil and gas, pharmaceuticals.

this is bloomberg. ♪ jon: this is bloomberg markets.tory of twitter we continue to watch, our stock of the hour, volatility persisting as elon musk's battle endures to take over the business. the world richest man tweeted today, the board salary will be nothing if his putter bid is successful. obviously the board -- nothing if his twitter bid is successful. everyone is trying to figure out what happens next. there are all these scenarios, whether it is what the board does or what musk does. >> i think clearly there is a lot of interest around the board composition, fiduciary responsibilities of the board in terms of evaluating musk's offer. giving of the tension, i don't think they can just adopted say they are done. i have to say, why is the offer not good enough. musk as to layout the financing aspects of it and really make it credible and what kind of changes he intends to make to acquire twitter. a lot of that will play out, but i don't think it will be a drawn out battle. now that this is in the news and both parties are going at e

this is bloomberg. ♪ is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe."se of covid, chinese stocks have been underperforming the u.s.. this shows the trend of comparing the two indices, the csi 300 and s&p 500 continuing to decline. our best this hour, likes chinese stocks, he is senior executive officer at our capital. if you like china is a but also the u.s.. to what degree does this relationship normalize? saed: two issues, we see pull from chinese equities, the past two or three months, given the relationship between china and russia. there is outflow there, overall, it is stable, up a bit in china. what i see is we are valuing now, especially chinese tech stocks. what i keep thinking is we go past the space where china normalizes the covid situation, i still think it takes more, chinese the place to be right now. manus: everybody came in a year ago and said by chinese bonds, that has compressed. the language being used is the state council -- the differentials of this is the tenure spread. if there's a shift in policy, would you be receptive to pick

bloomberg markets europe up next. this is bloomberg. ♪ >> good morning. to "bloomberg markets: europe." i am anna edwards in london. mark cudmore joins us from singapore to take us through all of the market action. cash trade is less than one hour away. here are your top headlines. the first round of the french presidential election gives the incumbent a narrow lead over marine le pen. the relentless rise in u.s. yields continues to send waves through global markets. the

this is bloomberg. yvonne: taking a look at alibaba shares, seeing pressure in hong kong on the back of the scoop from bloomberg news which is learned that china's tops inside watchdog was one of the agencies involved in a recent inquiry into links between jack ma and state owned chinese companies. stocked on to have percent. -- stop down to have percent. david: peter ellis from china tech, executive editor joining us now. set this up for us of course the details of this scoop. peter: the latest development here is the central commission for discipline inspection, this ecb i, is involved in this investigation into what the links are between some of these state owned enterprises and banks and jack ma's finance affiliate of alibaba. so i bloomberg, we had reported in february that regulators had reached out to these banks and ask them about their exposure to ants. at that time, we knew that the banking regulator was involved and they were trying to assess the situation and figure out what the ties where w

this is bloomberg. haidi: tsmc set to return earnings later after posting record revenue earlier this month. we discuss what to expect. the latest u.s. inflation data shows signs that pricing pressures may be peaking. we break that down for the markets. this is bloomberg. ♪ >> we will try to reach a strong labor market by bringing inflation down. it has been done in the past. it's not an impossible combination. but it will require skill and hard work. that's what they will try to accomplish. shery: our next guest says inflation is probably peaking now but remains cautious and patient on the market. we discuss with michael vogelzang. it was interesting to see the market reaction today. producer inflation jumping. what data pointer investors watching? michael: yeah. many of them. it depends on day-to-day, hour to hour. that's the real challenge. it's a difficult problem with inflation today because we have two ways of inflation. the first being from covid and the reopening of the economy. when everything

this is bloomberg. shery. shery: still ahead, we will discuss opportunities in energy tourism and trade as economies emerge from the pandemic. western australia's deputy premier joins us later this hour. first, a recession may be looming. not all downturns are equal and there could be opportunities ahead. this is bloomberg. ♪ >> we do not have a policy rule for everything. we don't have one for every industry. it's a very brute force hammer that we use on the economy. when you have to use a brute force tool, sometimes there is some collateral damage that happens. we are trying to do this in a way that there is not much of it. you cannot taylor policy. shery: christopher -- tailor policy. shery: christopher waller. we continue to see the bond space really reacting with that rout continuing. the australian 10 year yield topping 3% for the first time since 2015. we are seeing the kiwi 10 year yield continuing to rise to that teen high end of hours, the 10 year yield here in the u.s., treasuries above to 75 for th

this is bloomberg. ♪ ♪ manus: this is bloomberg daybreak europe.res rallied in the after hours trade, better-than-expected q1 numbers. with elon musk predicting bumper production growth. dani: meanwhile, in the earnings story, ackman sold his stake in netflix. that took place in less than three months. we've been all over the tesla and tech story. manus is going to yell at me, all i am able to do is talk about bill ackman. let's talk about tesla. you've been digging through their earnings, what were the key takeaways for you? laura: another important thing -- the world's wealthiest person did join the earnings call, he says it will be able to achieve 1.5 one million deliveries this year and a 50% average annual vehicle delivery growth. also record profits up revenue up 81% year-over-year, improvements in efficiency. the only question is that shanghai plant shuttered for most of march because of lockdown in china. in elon's word, it is back with a vengeance. >> we may pull a rabbit out of the hat hat three or q4 in regards to vehicle production. tha

. >> this is "bloomberg surveillance." jonathan: live from new york city, for our audience group -- audience worldwide, good morning, good morning. this is "bloomberg surveillance." here is your bounce back from an ugly session yesterday. the nasdaq up 1%. tom: it is really moving, and it is a some of the parts thing. it is massively correlated to the volatility you see in the yield, to what we see in the foreign exchange market. brent crude, 105, but how do you get the crystal ball out? we are learning on these earnings calls whether something like a can of soda pop or it is something serious like google and all they do, do we have any forward guidance? jonathan: if they offer forward guidance they certainly have a lot of uncertainty around it right now. we do too. if i can guarantee 50 basis points next week, after that another 50 basis points. the ecb, i cannot guarantee you anything. tom: i think we have moved on from the gaming of the fed out one meeting, two meetings, to the complete mystery of the then walked into t

this is bloomberg. ♪ kailey: let's get back to the impact of the fresh sanctions announced by the u.s., u.k., the european union, and allies. freya beamish, head of research at ts lombard is joining us. let's talk about what was not included today. that is, sanctions on energy from the european union. i don't know if you can count coal, but oil and gas, still not a card that has been played. is that the only thing standing between the european union and a recession? fre -- freya: it depends on how you define recession. i think there is probably still q3, which is relatively strong as a result of pent-up demand released in services, but other than that there is no clear growth driver to me for the euro area. i think consensus really is going through a bit of a deer in headlights phenomenon, with all of the different moving parts. if you take a very simple approach and realize that the long impact of the current energy price shock could be as much as 5% -- and that is including 5% off of gdp, that is incl

welcome to "bloomberg's daybreak: asia." our top story, japan's inflation can top 1% for the first time since 2018. elon musk says he has lined up new the $47 billion to pay for twitter and signals he could be prepared to pay more. many in limbo as officials -- for pursuing the ipo is 2 billion. >> a lot of volatility in the u.s. session, a gain -- the nasdaq 100 losing about 2%. the futures at the moment under a little bit of pressure we see the 10 year yield rising at the 2.9% level. we are seeing crude fall from the three are high, there are some supply concerns from asia. it was really to do with those treasury yields spiking again. take a look at the charts on bloomberg, it was led again by the front and, that is the policy sensitive and, the past year or so we have seen about 11 times when the two year yield moves higher more than 10 basis points now being the highest since 2018, not surprising, haidi, given that we had heard from jay powell about a potential 50 basis points hike at the next meeting. >> they are now pr

this is bloomberg. ♪ s bloomberg. ♪ shery: a source telling bloomberg the elon musk has been meetingitter executives today in a sign the social media company has become more receptive to his $43 billion takeover offer. su keenan joins us with the latest. the idea was that the twitter board initially had opted for the poison pill strategy. where is there a change of heart? su: it appears that following that regulatory filing on thursday where a dozen banks act musk to the tune of billions made all the difference. bloomberg is hearing that twitter is now generally more open to discussing a deal than it was previously, and met with the board. new york times giving more detail, that musk and the 11 member board met early sunday morning, and that there is a follow-up meeting later sunday to discuss matters related to a possible deal. the wall street journal had reported earlier that musk met privately with shareholders friday over resume to pitch his proposal. that perhaps added to the change of sentiment. the paper also said musk told twitter chairman brett taylor he will not adjust his

this is bloomberg. ♪ this is bloomberg. ♪ kailey: this is "bloomberg markets."joining bloomberg's balanced power. this is bloomberg. ♪ ♪ kailey: the coronavirus outbreak keeps growing. a news agency said the economy still has many strategic advantages. china set a growth target of 5.5% for the year. yellen will participate in some sessions with the group of 20. the u.s. is backing off any suggestion that it would boycott g-20 meetings if russia takes part. yellen will attend on the economic fallout. and in ukraine, president volodymyr zelenskyy says a long anticipated russian defense has begun. forces are said to be targeting the donbas region in the eastern part of the region. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. kailey: thank you. speaking of russia's invasion of ukraine, it has driven the imf to slash growth, cutting its global forecast this year from 4.4% down to 3.6%. u.s. expansion was cut by .3 to 2.3%. with us now is the imf's new chief comedies, pier

this is bloomberg. ♪ >> this is bloomberg markets: asia.krainian president zelenskyy has urged south korea to supply weapons for the war against russia. in a video address to parliament, he evokes memories of the korean war and called on lawmakers to approve the sale of military hardware. earlier, seoul rejected kyiv's request because of its personal stance on not providing legal hardware. >> we need air systems, air systems -- aircraft, tanks. artillery and ammunition. you have something that could be useful for us. you have armored vehicles, antiaircraft, antitank weapons. my comes to survival in war aimed at the complete conquest of the people, it is necessary to get weapons. it must be taken quickly to help. vonnie: the united states is called on all nations to condemn russia's work in ukraine after president biden and india's prime minister met. biden says the u.s. is standing by -- it will help them get diversify its energy imports to make it less reliant on russia. modi has declined to impose sanctions on russia while continuing to i

westin on bloomberg television and bloomberg radio.ersation is coming up. this is bloomberg. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we will start today with a check on the markets. joining us is abigail doolittle. everything is down today, stocks are down, bonds are down, oil is down. abigail: we had the everything rally, now we have the everything selloff. the s&p down 1%, the nasdaq at one point down about 2%. oil down 3.6%. the big one is bonds. the selloff is incredible. the 10 year yield at 2.77, up another seven basis points. the two euro yield, which had been selling off, they are now rallying. that

this is bloomberg. ♪ bloomberg. ♪ shery: we have an alert on the bloomberg. another month of contraction territory. the march number coming in at 42, easing more than the previous month at 42.9. we have seen easing of quarantines and restrictions in the omicron outbreak really derailed that momentum in the hong kong economy for the first quarter of the year. we are expecting to see some of those restrictions and countermeasures for covid being eased further starting april 21, but still far from march. the pmi number coming in for a period month under that threshold at 42. haidi: shanghai reporting a record number of new covid infections again. cases rising to 17,000 for tuesday. the latest on the country's battle against the virus. let's bring in our managing editor emma o'brien. we continue to see prices where omicron has taken old this surge in cases. in terms of china's management, what's going on in shanghai, where we out with these so-called stagger, but not really, in a practical sense, lockdown. >> the lockdown, in effect, has been extended. initially

this is bloomberg. ♪ is bloomberg. ♪ this is xfinity rewards.hanks, with rewards for the whole family! from epic trips... to the original jurassic park... on us. join over 3 million members and start enjoying rewards like these, and so much more in the xfinity app! and check out jurassic world: dominion, in theaters june 10th. >> from the heart of where innovation, money, and power collide, in silicon valley and beyond. this is "bloomberg technology" with emily chang. emily: i'm emily in san francisco and this is "bloomberg technology." coming up in the next hour, it's official. elon musk has agreed to buy twitter for $44 billion. the world's richest man will soon be in charge of one of the

this is bloomberg. ? emily: elon musk said he made a final offer for twitter last week at $43 billion it is now hinting at a hostile takeover that would involve a tender offer backed by other investors. i want to bring in curtis milhaupt, stanford law school professor, and talk about what is particularly notable about this potentially hostile takeover. thank you so much for joining us. you have studied hostile takeovers all over the world. what makes how this is evolving here different from what you have seen before? >> well, i think in terms of the actual offer itself, this is so far playing out according to the standard playbook in the united states of an unsolicited bid for a public company followed by the target company's management adopting defensive measures. so far, nothing so special but when you think about the company that is the target here, i think this is quite unique and it picks up on the conversations you were having with your previous guest about who gets to control public discourse in th

we break it down on bloomberg. ♪ manus: this is "bloomberg daybreak: europe." news from sri lanka. they will suspend normal servicing on some of their debt. they have they say approached the imf along with other institutions for bilateral measures. we are showing footage from the streets. food prices according to the u.n. hitting record levels as these protests are at the government and the state of affairs on the streets century longer. this is the breaking news. dani: to give you an idea they have $36 billion interest due on a dollar bond and $42 million on a note due april 18. the u.s. has told nonessential consular staff and their families to leave shanghai and says the vast majority of the city's residents remain under strict covid lockdowns. there is this real human implication of people who are restricted, maybe have trouble accessing food, but in terms of the wider economic implications, what are we expecting with data coming up for the area? >> i just want to take issue with something before the show. paul was saying it is not lockdowns and factories a

this is bloomberg. ♪ >> the calculation is telling us where we should be, under minimal assumptions, very generous assumptions, we should be a 3.5%. we are actually only one third of 1%. you are too low by about 300 basis points. jonathan: he has become very hawkish. that is james bullard. futures are positive on the s&p, up one third of 1%. on the nasdaq up one third of 1%. on the 10 year, a big week higher by as much as 30 basis points. today up two basis points. on the year, your two year closed 2021 at 73 basis points. it is now 2.5238. if i told you what would happen with rates to the first quarter into april and where the banks would be, would you tell me jp morgan would be down 17% end of last seven days the kbw banks index lower through all of them. something is going on with the banks. i find it fascinating ahead of earnings season. tom: i will go to economics growth and how they dovetail economic growth. we will learn a lot next week. one tip i would have is i think you will see expense contro

this is bloomberg. ♪ >> headlines.es rose, missing estimates as lockdowns and china weighed on the performance of the biggest brand. sales generated over half of the revenue, the rose about 13%. analysts had predicted a gain of almost 19%. the figures follow strong results from lvmh and hermes last week. disney is set to lose some of its parks in florida, with the state legislature clearing a measure to strip it of its privileges. governor ron desantis is now going to sign the legislation cup which will end an arrangement that allowed disney to govern its own municipal functions for more than 50 years. disney is, florida's biggest employers with over 70,000 local workers. bank of america is moving some of its dealmakers to singapore from hong kong temporarily, including its cohead of asia consumer and retail investment banking. some senior m&a staff are also relocating. hong kong's pursuit of covid zero is dampening activity in the city. singapore has dropped all virus restrictions. it seems like whether there is that

bloomberg's sam fazeli.loomberg. ♪ guy: to date not that macro focused, but it is a busy week of economic data in the united states. we also have a fair amount of fed speak. joining us is ira jersey, chief u.s. rate strategist with bloomberg intelligence. lael brainard will speak tomorrow. where is she going to fit in the spectrum of fed's speakers? ira: she has tended to be more dovish than some members. certainly members like james bullard from the st. louis federal reserve. i think she will still say we have to get inflation under control. we are not on a preset path will stop even if we might go 50 at some point, we might not go multiple 50's. that is one of the interesting aspects. the market is still pricing for a very aggressive that. -- a very aggressive fed. kriti: pricing in an aggressive fed. talk about what the economic data actually shows. there are fears that does the fed make a policy mistake that could plunge the economy into a recession. does the data support that? ira: there are couple of d