coming, wells fargo securities speaks to bloomberg tv. this is bloomberg.n today, one thing boomer gold watch space x. falcon 9 will launch a satellite into space. there 23rd launch this year. one other company in the space offers one of the lowest cost per alarm services in the first space launch company to be probably traded on the nasdaq. the ceo joins us now for the bloomberg technology from the bloomberg technology summit. every day i feel like we get a new launch of a company going up and delivering a payload into space. where are you now, what's next. >> we delivered several successful orbital flights for customers and we are getting ready to do a series of launches for nasa, were expecting license on friday to enable to begin a series of launches for a tropic position out of cape canaveral. our launch window will open up on sunday, this sunday the 12th. francine: easier launch rocket technology stable and reliable or are you having to work to try and minimize failure risk? chris: we are focused on scaling up the number of launches. we are in a phase

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this is bloomberg tv. ♪ mark: welcome to the bnn bloomberg audience.ark i'm done with first word news. speaking from delaware, president biden was asked whether he will be visiting saudi arabia, despite having vowed to make the country a "pariah." pres. biden: there is a possibility i would be going to meet with the israelis and the arab countries at the time, including saudi

this is bloomberg tv. ♪ as a business owner, your bottom line is always top of mind.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. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ 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 release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours. >> oil, the dollar, completely different story. bloombe

haidi: bloomberg tv guests weighing in.a is bracing for the start of trading. >> we are facing a risk of session day, you can see it reflected in the space this morning. the focus on that three and 10-year yield in australia because markets are open after a holiday in the previous session. the 10 year high -- the 10-year yield is tracking gains and the kiwi tenure at a 2014 high. japan bond is a different story. the boj pledging to stick with the program of yield curve control and picking up bond buying. today they will purchase three point $7 billion of five and 10 year notes. we want to look at what is happening in the emerging market debt space. local bonds flocking to a two-year low and central banks in the region are -- i'm talking about india and thailand. there is a quagmire because there is global inflation picture not looking great but they are also focused on local issue and growth being slow to catch up. shery: let's get analysis from hayden briscoe. thank you for being with us. we have seen asian bonds the worst

stay with the bloomberg tv for our live coverage. we will be hearing from the top global central bankers and economists about their outlooks for monetary tightening and inflation concerns. we move on to another big story. g7 leaders are set to instruct ministers to put a price cap on russian oil. jodi schneider joins us. what would -- what form what a price cap take? is it all but done? the story said it would be done by the end of the year. >> the ministers are getting a push from the treasury secretary janet yellen who wants to see -- she wants european counterparts to embrace the concept of having price caps on both gas and oil. the gas would be announced as soon as tomorrow. it is a way to basically limit revenue that russia is getting from oil and gas and at the same time allowing their to be a stable supply in the world market and not pushing european countries beyond what they feel comfortable with in terms of price. that would destabilize supply and could cause political problems for some of these countries. that is the goal,

. >> bloomberg tv reacting to the feds 75 basis point hike.'s bring in our next guest who says the current inflation regime investors are not getting the full benefit -- full benefit of diversification. joining us's chief macro strategist at state street global advisors. really good to have you with us with bonds and equities positively correlated. how do you hedge when there's a global tightening tsunami coming? >> i think on the fed decision there is the global tsunami of tightening coming and there was a piece and where we had global liquidity, fiscal easing, monetary easing on an international basis. not in the situation of the offices. in the consumption we are talking about investment teams as if that comes true, what with attitude to demand instruction or will it go beyond the demand we are seeing today, and will the fed be balanced after this next height, will it move too aggressively and will demand slowdown much faster. in that environment you continue to see heavy correlations between bonds. in our portfolios what we have been doing

coming up the chairman and founder of -- joining bloomberg tv. this is bloomberg.ping up with the news from around the world. xi jinping has made his first trip outside the mainland and a must 900 days. he travels to hong kong. his comments were an apparent reference to the sweeping security law beijing opposed in 2020 that crushed dissent. his marking the 20th anniversary . police are searching for the suspect in the shooting death of a woman with a baby in a stroller per the killer was described as a male wearing a black sweatshirt. congresswoman liz cheney has warned fellow republicans they must choose between former president trump or the constitution. she says they cannot be loyal to both. in a speech in california she called the former president edge mastic threat the country is never faced before. cheney's vice chair the committee that invest getting the attack on the capital. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. alix: let's get a quick

because generation x every wednesday only on bloomberg tv.ave breaking out of japan, we are getting the core machines orders out of japan for the month of april. this is a huge jump. we are talking about the month-to-month numbers. growth of 10.8% in the expectation was for contraction. we know that these court machine orders tend to be volatile. year on year, gains of 19%, that's a huge jump when it was around 5% gain. it's also a huge increase from the previous month. former orders are very important in giving you an outlook about the cute -- future capital expenditures. we are seeing a very strong number come out of japan for the month of april. a jump of 10.8% year on year. a surge of 19%. this is bloomberg. ♪ >> you're watching "daybreak asia", we are watching the fallout of the global supply chain crunch. the shutdown for key natural gas exports, some -- they have announced that it was hit by a fire last week and won't be operational until the end of the year. they have reach an agreement with the government and it has added to the stra

kathy jones coming up, looking forward to that in the next hour on bloomberg tv. ♪ ritika: the leadersany -- and italy are in kyiv today. they traveled together by overnight train. in a show of salade it -- solidarity, the trip comes as a recommendation from the european commission that ukraine be granted candidacy to join the you. russia and china giving differing account in president gigi ping's with putin. they discussed trade and military types. china says there president called for peace and stability, mentioned no military ties. in the u.k., the spotlight is on boris johnson's scandal. it was suggested he had breached at ministerial code -- code. monkeypox is spreading in africa. the world health organization is raising concerns after cases were found in at least eight countries, the agency says it is not recommending mask -- mass vaccination. the who will hold an emergency meeting to assess whether the current spread of monkeypox constitutes a health emergency. global news 24 hours a day, on air and on "bloomberg quicktake." powered by more than 2,700 journalists and analysts in

francine: a number of guests on bloomberg tv weighing in on the market selloff.et's bring in quintet private bank chief investment officer bill street, you could see pockets of growth but how much more of a correction could we see? bill: we are closer to the bottom then we were a few days ago. when you look at recession and these types of correction zero looking at 25 to 30% downdraft. this is a new paradigm to a certain extent with inflation. but on a long-term basis we are looking to find value in our report olio's -- portfolios, and this is a very anxious time it's going to be a long, hot summer. but our view on inflation is turning over and if the fed manages this nimble path with its blunt instrument of policy, we could have a constructive back into the year. tom: that's a big if, monkey -- money markets are pricing in 200 basis points, does that like the risk of another policy mistake? bill: we are definitely tiptoeing this policy mistake i growth. when it comes to central bank policies, it is as much about what the fed says, more than what it does. whether

a whole lot more on bloomberg tv. cannot wait for this. i have said that repeatedly for the last 24 hours. tom: some intellectual firepower at this panel. jonathan: ultimately it is about the other three on this occasion. tom: it is what they don't say. jonathan: yields in a single basis point on the 10-year. laser eye focus on crude. from new york, this is bloomberg. jonathan: futures are positive .2% on the s&p 500. 30 minutes away from hearing from chairman powell, governor bill lee, president lagarde. it is one of those operant things that you have to ask the other person question but people only want to hear from three of them. tom: that is the way that we are on this show. jonathan: the amount of hate that tk and i get. tom: euro-swiss through parity. 119.50 brent with a spread to west texas intermediate. netherlands natural gas, which i don't understand, other than javier bloss saying is important. jonathan: don't be too selective with the stories. yesterday we talked about china coming back online after easing some quarantine for t

stay with bloomberg tv for live coverage of the forum in portugal. we have francine lacqua moderating a panel with jay powell and others, catch it live on wednesday at 9:00 p.m. hong kong time, 9:00 a.m. in new york. let's get to vonnie quinn. vonnie: china has reduced quarantine times for inbound travelers by half. travelers now need to spend seven days in quarantine facilities, plus three days self-monitoring at home, down from 14 days in many parts of the country and as many as 21 in the past. but officials say the new rule does not signal a change in policy. hong kong's incoming government is said to be considering easing the city's quarantine rules. they may allow incoming travelers to quarantine for five days in a hotel followed by two days at home isolation, as opposed to current rules which require seven days of hotel quarantine. we are told a final decision is yet to be made. hong kong's incoming chief executive will be sworn in on friday. finland and sweden are closer to joining nato after turkey drop its opposition to their bids. the two c

here's how guests on bloomberg tv predict the situation will play out. >> a recession is inevitable at some point. >> it's almost unavoidable. . >> seeing a cooling of the economy is something that we believe is appropriate. >> as to whether there is a recession in the near term, i think that is more likely than not. >> we are going to have a tough period here. >> our economists have increased their out of recession this year, but really more focused into next year. >> if we can stabilize the energy market, and the fed does their job, we will have inflation under control. >> inflation is not going to cure itself. >> there will be more shorts coming from central banks. >> is intransigent, it is not transitory and the consequence will be a recession. tom: voices they are giving some sense of what expectations are around a recession. let's bring in sharon bell, european equity strategist at goldman sachs, what is your base case when it comes to the question of recession in europe, and what is the shape, the flavor of that recession if that is your view as to where we and up looking into 2

anna: that was built dudley speaking earlier on bloomberg tv. where is the biggest -- biggest risk from qt? starting today at the fed and it will be taking place at other central banks. nice to have you with us. about qt, it starts today at the fed and are curious to know what the biggest risk will be for marcus? -- for markets. >> people need to remember the fed is using two tools. the one is the fed funds rate which is the cost of capital. and running off the balance sheet is the amount of capital. as we been trying to caution, it's where the quantity of capital and liquidity has been most official and its withdrawal will continue to be felt. that is in the most speculative parts of the market and the richly valued arts of the market. while we have seen those sectors in the last five trading days, whether it's unprofitable or strengthening some of the smaller cap sectors, levered to some of the more speculative parts of the market, that's where we will see this withdrawal of liquidity really start to bite. alix: how much of that is already in

you can catch more of that interview on bloomberg tv.versation will premiere july 1 at 5 p.m. in hong kong, seven p.m. in sydney. this is how we are shaping up when it comes to australian futures. what a horrible session in the previous session as we saw was the markets playing catch up up, but looking to extend losses. the aussie dollar is kind of holding its ground more or less, but firmly below $.69. this as we continue to see that strength in the haven demand for u.s. dollar across asian currencies. . dollar is down and mild to lower start to trading here in asia. the nikkei is flat. we are watching dollar-yen, actually starting to see just a bit of strength trickling in. remember, we have been talking about these yen crosses, it suggests that despite the headline yen strength that we see, that perhaps it is actually a little bit more when it comes to haven demand playing on that theme of the stagflation and information risk we are talking about. these are the fears gripping markets. consumers a pullback. let's bring in annabelle dro

and stay with bloomberg tv for a live coverage for the ecb form in portugal. francine lacqua moderates the panel with the big names out there. jerome powell, christine lagarde, andrew bailey, catch that live on wednesday, 9:00 if you're in hong kong. 9:00 a.m. if you are in new york. for now, let's go to first word news with vonnie quinn in new york. bonnie: finland and sweden are joining nato after turkey blocked opposition to their bids. two countries pledged to address the security concerns, especially around credit groups that turkey considers terrorists. ember ships for the two neutral countries will still take many months, it will mark a big shift in u.s. security landscape. nato says it sends a clear message to russia's vladimir putin. south korean consumers have turned pessimistic for the first time in more than a year as inflation and higher rates take a toll. the bank of korea's consummate consumer index drop below 100, indicating pessimistic views outnumbering optimistic ones. south korea is among the most vulnerable to pressures as it relies heavil

stay with us on bloomberg tv for live coverage from the forum in mexico. moderating a panel. this is bloomberg.

paul: some of our guests there on bloomberg tv.sion fears are boosting global bonds, though traders are looking for clues on where rates may go. already they are paving into hedges that protect not only against peak policy states, but a potential cut as well. let's bring in mliv strategist mark cranfield. have we seen a peak yields yet? mark: it is quite possible at the longer end of the treasury curve. our colleague, wrote a detailed piece yesterday suggesting seeing a bottom for bond markets in this cycle, comparing it to 1994. it is partly because of what you are hearing coming out of the federal reserve, especially jerome powell, when he says that achieving a soft landing is going to be very difficult. immediately alarm bells are going for traders, saying, if we don't get a soft landing that means the risk for heart landing are higher. if you look at the derivatives curve going on beyond this year, people are looking for the point at which the federal reserve may be forced into cutting interest rates because the economy is slow

an exclusive interview with the ceo only on bloomberg tv, that is at 7:30 p.m. thursday in hong kong and singapore. rishaad: absolutely in their one of the things that airlines are grappling with two is the high oil price and that is the subject of our first word news story with opec workers suspending russia from oil production deals. delegates believe western sanctions will undercut moscow's ability to meet crude targets and it could pave the way for other members like saudi arabia and the united arab emirates a lot more. they say it will hold firm on its oil production plans, despite the restrictions on russia. taiwan has been saying that china made the second largest incursion into air defense identification zone, the defense industry saying that the jets entered the area. beijing said that they conducted patrols around the island recently, taking necessary action against what it calls u.s. taiwan collusion. we arrived in taipei on an unannounced visit to meet with taiwanese president. hong kong's next leader says the city will face difficulties before it ca

. -- on bloomberg tv.a: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. in the u.k., prime minister boris johnson is fighting for his job. members of his conservative party have a confidence vote later today after a series of scandals. he wrote to tori lawmakers, saying the vote gives the chance to end weeks of speculation. in any report, they say there are some signs of softening in the labor market. at the same time, sequential core inflation appears to be slowing. they say that reduces the risk the fed will have to tighten monetary policy to force a recession. india looking to double down on russian oil imports. state and refiners are eager to buy more heavily discounted supplies from rosneft. international players have been turning down dealings with moscow over its invasion in ukraine. shares of dede soaring in premarket trade. the report says that dede will face a relatively large fine. jetblue has approved its offer for spirit airlines. on friday, spiri

. >> welcome back to another special update for bloomberg tv and radio from tennis careful data fromchannel. the women semifinals are set. she extended her win streak to an incredible 33 win streak. the polar star on her way to the semis for the second time in her career. the russian describe the victory as a dream come true after closing out the hard-fought win in the second set after two hours on the court. you can watch all of the action from paris live on tennis channel. coverage continues thursday at 6:00 eastern. ♪ jonathan: good morning, good morning. your opening bell just moments away. the countdown starts right now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. jona

this is bloomberg surveillance on tv and radio alongside tom keene and lisa abramowicz. equity futures up .5%, trying to hold onto these gains. tom: the vix has worked down another notch. the unspoken story this morning is now oil lifts. it is up 6.5% according to commerce bank and it has a further lift in the last hour with brent crude $117 a barrel, not where we were a week ago. jonathan: china at the epicenter of nato talks in madrid today and the next couple days and at the epicenter of price action, too. tom: i wanted to talk about including turkey, sweden, and finland. the china story to me is in the headlines. they are trying to reopen. jonathan: i will get excited when they get rid of the quarantine. lisa: going from 14 days to 10 days. this is not a removal of the zero covid policy. this is a temporary reprieve to actually help support global growth. how long it will last, how much uncertainty this will cast remains to be seen. jonathan: no clue what china is going to do for some of these earnings for the rest of the year. lisa: and how much of a hit they took.

bloomberg tv's anne marie horton. thank you for joining us from the summit.orning joe" starts right now. >>> a live look at the capitol hill ahead of a last-minute hearing today from the january 6th committee scheduled for later today at 1:00 p.m. the panel called back to the hill from recess to present new evidence and witness testimony. the big question, what has the committee learned that seems to be so urgent? >> really, as we take a live look at 5:59, almost 6:00 a.m. on the east coast, just absolutely beautiful shot of the united states capitol. you can guarantee -- you're guaranteed that it's going to be another dramatic day of hearings there. the january 6th committee has just revealed things about that day from trump supporters that i >> we have jackie al mainly standing by to give us the latest. federal agent makes move in another key figure in the january 6th investigation. we'll have the latest developments concerning john eastman. >> the

. >>> joining us now, washington correspondent from bloomberg tv, ann marie, great to see you again,rt with gas prices. lots of global factors of course impacting them. and we're seeing white house efforts to try to mitigate that with a letter from the president to big oil companies yesterday, trying to plead with saudis to produce more, when he heads to saudi arabia later this month, next month, but of course, russian invasion of ukraine plays a big role here. how effective is any of this going to be? >> it's a good question. because the administration is trying to pull a lot of different levers to bring gasoline prices down. this, as you know, poll after poll, this is top of mind of americans and they are reminded of it every single day when they're going to the pump, they're walking past a gasoline station, they're reminded that gasoline prices in america are $5 a gallon. so is there a lever of asking the biggest producers of the world, the ones with capacity to pump more like saudi arabia, and there is an olive branch and the president will make a visit and potentially you could

shery: we will bring you those remarks by president biden live in about 20 minutes here on bloomberg tvdo stay with us. this is bloomberg. ♪ >> now greater recognition that inflation is not transitory is probably with us for a number of years and it is the type of inflation that i do not believe the federal reserve has the policy or the tools to do much with it right now. and i am personally not blaming the federal reserve for where we are right now, but i believe most of the problems we are living with today are more policy generated and supply generated. >> this is among is among if not the most complex dynamic environment i have ever seen in my career, we have obviously been through lots of cycles, but the confluence of the number of shocks to the system to me is unprecedented. haidi: big names there on the current economic environment risks. take a look at this, goldman sachs saying emerging market stocks, bonds and currencies are set to reap the rewards of a peak in the u.s. dollar. strategists are pointing to china and southeast asia as attractive targets. still with us is zach, c

the company is making its hong kong trading debut over the next hour on bloomberg tv, and the highlightterview with the new zealand finance minister on a visit to asia. this is bloomberg. ♪ another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™ psst. girl. you can do better. ok. wow. i'm right here. and you can do better, too. at least with your big name wireless carrier. with xfinity mobile, you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill, over t-mobile, at&t and verizon. wow. i can do better. yes, you can. i can do better, too. break free from the big three and switch to xfinity mob

bloomberg surveillance. jonathan: live from new york city for our audience worldwide on the good morning am a this is berg surveillance on tv and -- this is bloomberg surveillance on tv and radio. there is a storm coming. tom: jamie dimon lightened it up and some of that was in our interview in london. jp morgan does a lot of fancy work, a lot of math and a lot of algebra and they are looking for higher oil prices. jonathan: their chief equity strategists is still very polish -- bullish. that's a heavy lift on the back half of 2022. tom: it's wonderful to see that division at any major bank in its always part of the debate and its healthy. it's been said the recession going was wrong. they are adamant off of that economic data, the ism data. it's not that bad stuff jonathan: job openings came in pretty high let's talk about crude oil, down more than 6%. we might get more output from riyadh and the president might make a trip to saudi arabia shortly. lisa: he will be going on a nato tour later this month and it might include a stop in saudi arabia to increase production. they are talking about how saudi arabia may consider i

stay with bloomberg tv from our live court -- coverage of the ecb forum in portugal this week.rom top economists and central bankers about inflation concerns and monetary policy. haidi: let's go to vonnie quinn. vonnie: thank you china central bank has pledged to maintain monetary policy to help the economy recover. the pboc has taken a modest approach to easing this year, refraining from cutting policy interest rates since january. bloomberg has learned china plans to extend trading hours for the yuan. beijing wants to increase inflation and onshore currency trading as part of a push for global insulin. the pboc pledged in may 2 open financial markets. sri lanka is going into virtual lockdown as it limits fuel supply to only essential services such as health and public transport for two weeks. the foreign exchange reserves at a record low, the country is struggling to pay for imports of food, medicine, and fuel. the prime minister warned last week of a complete collapse of the economy. i u.s. costs -- cross-country amtrak train has derailed, killing at least three. it was trav

haslinda: bloomberg tv guests on the market outlook for the second half of the year. survey that's expectations for stocks and bonds to end 2022 slightly lower. the s&p 500 to be at 3700. of course it is currently at 3900. wti crude expected to go down to $100 a barrel, we are at $108 a barrel. 10-year yield, expected to be at 3.5% for the second half of the year. we talk about risks, we talk about slow down, it is expected to impact assets pretty much across the board. rishaad: let's try to make sense of this. to do that, we have sean debow, ceo of eurizon capital asia with more than $500 billion of assets under management. thank you for joining us. sean: thanks for having me. rishaad: you saw those targets here. do you go along with those? sean: the target of what we need to be focusing on is what is going on with the g7 and what will happen with the opening up of china, and of course we have the important announcement of this week when president xi jinping comes to hong kong to see us. rishaad: this is the question of the day from our mliv team, our equity markets

bloomberg. ♪ jonathan: live from new york city this morning. good morning to you on tv and radio. s bloomberg berg -- this is "bloomberg surveillance". we are down by more than 1%. 3.0122% -- lower by a lot as well. still down by more than .7%. tom: we are going to do this year. the cheapo dialogue. i want to focus on the cpi report. is inflation the same, david page, in middle england as it is in america? david: pressure coming in for utility bills for petro or gasoline costs, that is where it differs -- is differently. tight labor markets in both. tom: economists talk about core inflation. we are living nominal. when are we going to stop doing that and looking at a percent inflation? david: it is what is driving incomes. it is the squeeze we are seeing on consumers. they are worried about petro prices and gasoline prices. at the moment, it is not happening. that headline lisa: is the focus. how concerned are you when you take a look -- you have something very similar to what we are looking at now. the beat -- the peak calculated by the study that came out yesterday, and my thing

. >> guests on bloomberg tv talking about uncertainty as we head into the second half of the year.ur next guest has a balanced portfolio of growth and value stocks which will be important for this year. always great to have you with us. we continue to see the outlook for the u.s. markets, for the u.s. economy, dimming ready fast. how do you hedge this? >> it has been important and you said the balance between growth and value. the important thing in the u.s. and many markets around the world has been to move away from the indexes and find areas where you still have opportunity. we did that earlier in the year. we have scaled back wait a bit now. -- quite a bit now. we shorted bonds the first half of the year. looking forward with the chance of a recession, with defensiveness that we need to have in the markets -- we are looking more at health care, utilities, consumer staples. defensive components of the portfolio. >> i'm surprised you have pulled back in the energy investments. we continue to see tight supplies. is your concern about recession outweighing that? >> certainly if we

jonathan: live from new york city for our audience world wide, good morning this is bloomberg surveillance on tvnd radio. futures are down about a quarter of 1% on the s&p 500. a big day ahead for chairman powell. tom: they will talk about the dreaded r word, recession. in the last 24 hours, the conversation has shifted to gloomier. i would go to michael tran of rbc capital. he says the oil price can be swift, violent and un-for giving stuff can the economic data be swift, violent and un-for giving? jonathan: here is my word, dreadful. that's the last 24 or 48 hours. tom: they look at soft data and hard data and the part data is catching up fast to the soft data. i look at all of this number one thing i see is the resilient oil price. jonathan: i'm'still running on central european time. we been getting these regional announcements of german inflation and then spanish inflation came out, absolutely surging step lisa: 10% which is unexpectedly high and pressuring the ecb to do something at a time when they're trying to calibrate how much they can do. how much of a potential credibility issue is t

this is "bloomberg surveillance" on tv and radio. equity futures up percent on the s&p. what a week we have got coming up. tom: two weeks in, we have the fed meeting as well. but ecb front and center. what is interesting, after a job stay, the monday after a sort of clunky -- the headline today's the jump condition in copper, optimism of china reopening. jonathan: we push onto cpi friday. -- the summer of volker, no fun until the fed is done. tom: it will be data-dependent. with an 8.3% statistic, what if we overshoot that, come in underneath? research shows us it is an ambivalence. it is like we just have to wait. you think -- jonathan: we start to see price targets come in. we will check in with lori calvasina in a couple minutes. lisa: pretty much across the board, perhaps we have come across people pessimism. the idea of my ozone of morgan stanley saying we will probably start to see company start to remove some of the fuzzy forecast and downgrade even further what their profits are likely to be, and that will lead to the next leg lower, but this is not a a wholesale

this is bloomberg surveillance on tv and radio. i'm jonathan ferro. equities up in a big way last week. tom: there's a quality here. there certainly big action in the technology companies. there are some summer distractions. tesla, twitter and all that. but you mentioned the energy certitude, just a whisper of that disappearing last week. jonathan: marathon down hard. all of those names have been absolutely hammered. we've got to ask why yields lower over the last week. tom: i know you didn't see the recession on your sojourn in the mediterranean. lisa was nonstop all week. lisa: let's be very clear because i get hate mail sometimes. you wish for a recession. i get hate mail for being too gloomy. the reality is everyone's hoping for a soft landing. last week was the week of meaning and perhaps we are going to get a softer slow down a cello or -- a shallower recession. people are reassessing whether we have moved to four -- 24 -- whether we have moved too far. jonathan: did i miss a deeply philosophical week? tom: there's parts of america that are flat

this is bloomberg surveillance on tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. it is payrolls friday. jamie dimon says that hurricane is coming. elon musk has a super bad feeling. tom: he does it his own way, but this is the beginning of what we will see, which is 2% here, 4% they are rationalization. it is not the rationalization, it is the rapidity of it. we are talking may and june what we would normally be talking about in september. we are speeding up the path. jon: you said it repeatedly the last few weeks, this is what could be in. looking at job cuts of 10%, a hiring pause. you say this will not just be tesla? tom: they will look at demand. this is what corporations do. a real controversial view on the game the fed plays to the end of the year based on demand. corporations are not different than jerome powell. they will adjust a la musk in his own clumsy way. they will adjust now. lisa: there is the elon musk aspect. who does this? what co comes out and says i have a really bad feeling, it's su

to this morning, from new york city for our audience worldwide, good morning, this is bloomberg surveillance on tv and radio. futures are down about 2/1 of 1%0, two hours away from the central bank meeting in portugal. tom: i think they will finesse to what they will not say. they are looking at foreign exchange as the litmus paper on an uncoordinated central-bank system. jonathan: the economic data starting to weaken. tom: sterling gives way, i think that's a change overnight and what i'm watching is the yen up to one dollar 36. that speaks volumes to the western central bankers. jonathan: we are waiting for the economic data but the earnings and a company specific story. earning system will kick off into -- the earning season will kick in around july 14. lisa: u.s. ipo volume accounts for less than 6% of what we saw in the first half of 2021 and a similar story in high yield bonds. it has all but completely halted so how does this speak to the lack of conviction and the lack of forward guidance? jonathan: let's compare the capital market activity to 2018? is there any comparison yet? lisa: if yo

jonathan: live from new york city for audience worldwide, good morning, this is bloomberg surveillance on tv and radio. futures are just about positive. tom: new month, same problems. it's a turn to the market. the major call is what happens not this june but what happens in july and august? jonathan: how do we reset in september? september 21 is the date when the fed it's around table and hikes egg yen? what's the story there? tom: the data will be there and by that time, corporations will really begin to adjust the cards dealt to them and i'm not protecting -- projecting a massive cost-cutting but it's gotta be in their minds to speed up their rationalization of 2023. these corporations are struggling to get any visibility on the future. lisa: i'm sitting here thinking about this headline that the s&p global is spending 2022 guidance on macro economic conditions and they say they have no clue and their jobs to rate companies. they have no guidance so what does that tell us? how does the fed arrange on this. it's whatever way they decide to shift that determines the path of the market where

this is "bloomberg surveillance" on tv and radio. equity futures higher by .9%. damage done year-to-date so far. s&p down 23%. nasdaq year-to-date noun 32%. lisa: if we go into recession, what would draw downs look like and what the pain is. the range of potential outcomes have gotten as wide as i have ever seen them. i keep going to that range of 3000 on the bearish side or 4750 on the base case. jonathan: i think people have a bull case and a bear case. the bull case is, the damage is done. the bear case is, we have adjusted to rates. we have not adjusted to lower earnings. which point is the more compelling one? lisa: how much does the stock market have to overshoot on the downside when you get earnings downgrades before people start to expect what andrew was talking about, the next cycle, typically, markets get ahead of that. it is unknown. we do not know what we are dealing with in terms of multiples, inflation, growth. even companies are having trouble pinning it down. jonathan: what i haven't seen in credit, that line in the sand for a lot of people is aro

this is "bloomberg surveillance" on tv and radio. alongside lisa abramowicz, i am jonathan ferro. t.k. taking a long weekend. coming into today, we are down 6% on the s&p 500 this week alone. lisa: we saw the lowest levels going back to 2020. looking at certain models that show the s&p is pricing in an 85% chance of recession in the united states in the near term. so are we there yet? jonathan: and how much damages this fed preparing -- willing to do, inflict on this economy? lisa: a lot of people say they are willing to cause a recession in order to bring prices down, the pace of price increases down. but as we happen talking about, let's see how strong that commitment is when we started see negative prints on the jobs numbers, the weakening data come in, and question how much the tightening is actually bringing prices down considering where the shocks are coming from. jonathan: starting to see credit break down just a little bit. are you seeing any sign of stress emerging in this market? damian: absolutely. lack of balance sheet elasticity will be the question. we are completely

heard on radio, seen on tv, this is "bloomberg surveillance." ♪ jonathan: equity futures this morning morning on tv and radio, we look like this. your negative by more than 2% on the s&p 500. taking back yesterday's rally. this federal reserve with an outlook that includes higher interest rates. they hope, lower inflation, but also higher unemployment. for some that is fantasyland. that is the equities market. we looked like this on to, tens, and 30's. up today by 15 basis points. look out, germany, too. the bond market breaking out. -- tom: this is wicked important, folks. you look at the levels, and germany, italy, today speaks volumes. italy has not given it up. it is near 4%. jonathan: that spread was inside 100 basis point/two. back through 200 over the last couple of weeks. tom: there is way too much spread analysis and not enough level analysis now. jonathan: tom, i'm with you. we have to for the center the fx market too. the swiss national bank out with a rate hike. you are swiss, one to watch. euro-dollar another one. if we are importing a lot of inflation, we have a problem

jonathan: this is bloomberg surveillance live on tv and radio. i am jonathan ferro. equity futures up .6%. it is decision time. tom: it is decision time and there was a shift yesterday afternoon. bill dudley who we will have on the show today, he came out and said this is a 75 point meeting and the market shifted. jonathan: he is not allowed. barclays, deutsche bank, jeffries, a long list of companies and banks looking for 75. let's say they go with 75. what is next? tom: what is next will be what is in the press conference. 75 and what comes next. dominic konstam coming up in it moments on this huge distinction of this meeting. jonathan: before we get there there's another central-bank decision. i woke up this morning on expecting this. the ecb. lisa: they're having an emergency meeting to address italian yields. they are watching spreads blowout to 2020 levels. it is a conundrum. those names are at odds. what did they say at this meeting other than sit around and say what we do? jonathan: the contradiction of ecb objectives. kid shoots of socgen -- kit juc kes of s

this is bloomberg surveillance live on tv and radio alongside tom keene and lisa abramowicz, i am jonathan ferro. futures down at 1.2% on the s&p. what about q2? tom: an ugly q2, knowing focused on off of the panel yesterday with francine lacqua, madame lagarde giving a focal point of a one or 4.29 -- 104.9 -- 104.29 euro. jonathan: they want to take on inflation, that is the objective and they hope they don't take down growth. but the goal is to get inflation down. the hope is we don't get negative growth and that message was loud and clear yesterday. tom: growth is on and the messages to lie, like 15 or 16, jp morgan, but we will see coming off the thursday claims is a recalibration by the sell side of where o-rings --earnings are there to be. jonathan: we talk about it, the junk, 1000 basis points. it is getting messy. lisa: the first time going back since 2020, persistent messiness is catching people's attention. people are talking but the value in credit spreads, the value in credit if we are not going to see default. no one is talking that value as much as the recession and the fact

jonathan: good morning, bloomberg surveillance live on tv and radio alongside tom keene and lisa abramowicz, i'm. futures down one point 3% as we look about. tom: you say brutal first half, i'm going to say brutal thursday. the taken micro details, down 19,000, 80,000 with bankruptcies, liquidation is what the british call that. up to 115, recession, economic growth slowdown and the global system, everybody but the yen screams strong dollar. jonathan: this has been a difficult message to swallow, inflation down, tied to financial conditions as part of the objective and even with the price action we have seen, but the fed chairman, different to what we have seen in the previous 10 years, endorsing it. his words yesterday, markets have been pretty well aligned to where we are going. tom: moments ago, a 103 print on euro. that speaks volumes. 103.97 on euro, that is the challenge for christine lagarde, that is how central banks become overcome. jonathan: largely on the back of some fact data for europe, united states and meta-, more data this morning and onto the ice and tomorrow. lisa: all po

coming up on bloomberg tv, global sector by divergence has been emerging with the fed.ng rates. we will dive into the different paths ahead for central banks. to take you through expectations for timing and otherwise. a little bit of over -- underperformance in france. this is bloomberg. ♪ tom: welcome to a special edition of bloomberg. let's check in on these markets. it is a national holiday stateside, juneteenth. around .7% on the s&p. almost 6% for the week last week. markets continue to reassess the risks of inflation, the risk of recession. pivoting of those central banks. when it comes to the breakdown, we continue to watch what is happening in terms of those spreads in europe as well. a yield three basis points. we continue to listen out for the ecb later today. 2/10 of timber there. bitcoin, as well as --. voluntarily -- volatility concerns. let's get you a check on news from around the world with first word with atkins allen's -- at kid -- alice atkins. alice: the french, italian and german leaders have already given their blessing. president emanuel has lost

this is "bloomberg surveillance ," live on tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures up 0.5% on the s&p. more data still to come stateside, and the data so far, so good. tom: it is going to be interesting on claims and on jobs data tomorrow, and maybe you get a reaffirmation of recession. maybe not. the gloom crew is flat out wrong. the fed is fighting the last war. jonathan: you saw the reaction in the market. yields higher, treasuries lower. the conclusion, the fed has more work to do. tom: dollar resilient as well. have we broken through? no. is there any drama and the data check this morning? no. but we have a real reversal in the gloom. jonathan: in wti and brent, we came so close to one junta $20 in wti -- to $120 on wti. lisa: a decline in output from russia. how do you gauge the time -- gauge the decline given the fact that a lot of their oil is floating on ships to china right now? at what point is this willingness a tit-for-tat with the u.s. government? how much does this depend on p

from new york and on radio, seen on tv, this is bloomberg surveillance. ♪ >> this higher inflation isng consumer confidence and consumption. >> the fed has to keep making these basis points until a demand slowdown. >> i would be amazed if the fed is able to go 50-50 in a straight line without any pushback from markets. >> maybe they can pause and let high prices naturally bring down demand.

announcer: from bloomberg's world new york truck tv and radio audiences worldwide, welcome to balanceonday,

shery: some tv guests from bloomberg. the fed's policy decision and buying opportunities.ur next guest says she is moving towards quality across the board. with us now is alan hayes and, chief market strategist at fl putnam investment. good to have you with us. we have heard from wall street being more cautious about buying the debt but even with the selloff and the latest wave of downside, equities have still not priced in all of the risks towards corporate earnings even the energy crunch and not to mention the higher costs. we are you finding opportunities? ellen: we are looking for companies that are generating free cash flow. if you look at what has happened over the last several months and the last three days, you have seen real rates rise. rates have gone up. the inflation breakevens have gone down at least today what you are seeing is real rates are going up as well as nominal. what that means is this era of easy money we have seen for the last decade and a half with real rates low or negative is coming to an end. it is clear the fed -- is over. it is clear that all

tv . this is bloomberg. ♪ shery: here is a quick check of the latest business flash headlines. -- ev will of south korea's automobile market by 2026. up to 40% by 2030. renewables will maintain a reliance and make a since of the prophet but also strengthen ties with china. a report has revealed that tencent bought a .72% stake in walmart last year from is cofounder. the stake is worth $254 million. flip card's -- flipkart's valuation has caused the authorities to be notified at the start of this financial year. dozens of new titles for windows's subscription service xbox game pass, it has been big on game pass would is has 25 million subscribers who pay at least $10 a month. trading on the over-the-counter markets, monday in the u.s. and two weeks ago shareholders voted to delist the company for raising about $4 million last year. the listing had angered beijing and shares had fallen 80% since their debut. more than $50 billion in market values. paul: let us take a look at what is going on in currency markets at the moment. dollar strength continuing to be in the top spot. of about 2.5% -