i think boeing has. sad that you know, the the many effort cost cutting was because of the specter of airbus. the there was there were many opportunities during the past 20 30 years were boeing face this choice, you know, airbus had come out with a plane that was about 20 years newer at the airbus had a plane that that had fly by wire electronic technology boeing didn't there was a meeting i wrote about in 1992 that gordon bethune later become ceo of continental was in where executives in the commercial airplane business went around the room and said should we should we develop a brand new 737 and he got a kick under the table from someone who wanted to vote the other way. he said he said in the next gen is the way to go and the vote was five to three so that there's there been points through boeing's history where it it could have taken the step to invest but it it was always the more expedient one. because of the base the wide base the 737 had and that the fact the tooling was already paid off the fact

boeing didn't. exactly in the commercial airline business went around the room and said should we develop a brand new 737. he got a tick under the table from someone that wanted to go the other way. the vote was 5-3.ktick under th from someone that wanted to go the other way. the vote was 5-3.ick under the from someone that wanted to go the other way. the vote was 5-3. it could have taken steps to invest but it always was not because of the wide base the 737 had and the tooling was paid off. the factory was already paid off. >> then historically boeing made with the 747, i guess with the triple 7 as well. it came time for the 87, the culture of cost cutting was already there in chicago and they came up with this global b have to pay for a lot of it which was a financial disaster. the main lesson i see is to listen to what your employees are telling you. managers had a prime directive to minimize training on the back. there were points in boeing's history when there was a wish to minimize training, b

boeing didn't. there was a meeting i wrote about in 1992 that gordon bethune became ceo of continental where executives in the airplane business went around the room and said, should we develop a brand new 737? and he got a kick under the table from someone who wanted to vote the other way. he said the next gen is the way to go, and the vote was 5-3. there are points in boeing's history where it could have taken the step to invest, but it was always the more expedient one to not because of the wide base the 737 had and the fact the tooling was already paid off, the factory was already paid off. >> of course, then, historically boeing made the big bad with the 737 and i guess for the 777 as well. when it came time for the 787, cost cutting was already there in chicago, so they came up with this global ad sourcing so boeing wouldn't have to pay for a lot of it, which was a financial disaster. what are the main lessons of the max tragedy? >> the main lesson as i see it is to listen to what your employe

boeing doesn't have the self-certification ability with the max and the dreamliner boeing has not delivered a 787 dreamliner since last year and they were optimistic deliver reese could resume in april or may. you have to wonder if that's a possibility now that the faa is pulling back boeing's ability to self-certify dreamliners melissa, back to you >> phil, the stock seems to be holing on its gain of 4% and if we'd had the news to see how the stock would react, is this what you would have reacted >> i would have expected a pullback, and when you talk to people in the airline industry, there's an optimism that the dreamliner deliveries will resume this spring not everybody buys that and not everyone thinks that's a foregone conclusion and let's be clear, boeing has been careful not to set a deadline out there. when we talked to dave calhoun he didn't say yeah, we'll start in april he said the company line which is we're working with the regulators and want to get everything certified and worked to the standards that the faa is looking for before we resume delivery i'm not entirely surprised

the boe is set to leave the boe in the dust, lifting rates. raises guidance as covered tests boost profits. we will speak to the chief financial officer, dr. jochen schmitz in a few minutes. technology stocks are filtering through to the broader markets. diversions between the ecb and boe. tom: and whether the ecb will act earlier than they hoped to. even that cpi number, another record print for the euro zone that was a surprise. to what extent does that feel the debate between the hawks and that of spirit manus cranny is on the ground, he will keep us up-to-date. the european markets looking at these earnings on the back of what happened on meta. investigator -- investors are seeking clarity. the dax is down 37 points. the ftse 100 up 0.1% supported by basic resources. we will see that slow as we crossed to the sectors picture. basic resources are leading the pack. gaining 0.3%, number two now. autos in the green. at the bottom of the list, industrial goods and technology. meta had a disappointing set of results. a real surprise, the first t

the boe coming in and raising rates to 100 -- 50 basis points. that was a split in the vote and we are looking to price in another hike next month. in terms of the ecb, it was the statement and it was christine lagarde's commentary that was more hawkish. marking back a previous expectation that a rate hike will be for this year. the cac is up by 46 points. let us change it to see how things are looking across assets. the moves yesterday on the back of the ecb were pronounced, including the euro. that 1% move and whether that will be sustained as a markets take the back foot when it comes to the renewed hawkish niche -- hawkish nests from christine lagarde. there has been i divergence from the boe and the ecb. that divergence is now narrowed. across the yield space, yields rising from the germ and boon to the italians to the japanese. on the 10 year yield, minus two basis points. the five year yield breaking its territory for the first time since 2020. that is moving up again bite nine basis points for the five year. the 10 year is also gaining fo

boe. japan sovereign bond yield hitting zero. leading gains.hing up we are live in the beijing olympics bubble. >> are looking at markets --we are looking at markets. it is all about technology. thursday, it was meta platforms shocking markets. amazon, the reverse. what do we have in terms of monetary policy? a hawkish hold from the european central bank hawkish hike. >> that's right. stunning moves. meta losing 250 one billion dollars in the biggest move in stockmarket history --$251 billion in the biggest move in stockmarket history. that is in line with the team we have seen at the beginning of the year. markets looking steady and asia. the bond market is where we are seeing the reflection of the ecb and boe, both hawkish, ecb raising rates for the second time in a row, sounding more hawkish. take a look at the yields higher across the board. japan should be catching up later. hong kong is back from a three-day hollow lake --holiday. tech rising in line with what we saw on the nasdaq. five percent higher since the last time th

does this mean boeing will have to further delay the delivery of more dreamliners, or no? >> that's unclear at this point, shep and the issue is this. for almost a year, boeing and the faa have been discussing tha manufacturing and inspection process for new dreamliners, and those protocols had been adjusted, and it's not quite to the point where the faa said, yeah, you're good to go, once you do this, you're free to deliver these planes well now the faa has said once we sign off on those new protocols, we want to do the inspection of every airplane before it's delivered to make sure it's up to snuff. >> what about dreamliners and service right now? any impactd to make sure they're up to snuff. >> what about dream liners i >> no. and this is not a flight air worthiness issue that is involved in this situation between the faa and boeing the dreamliner, aside from early on, shep, when they had the battery issues and they had the grounding, since then, and that's more than a decade ago, this has been a relatively, a very safe plane, not relatively, but a very safe plane with

ecb, boe, hawkish language.r members of the boe saying they wanted a 50 basis point hike in the previous meeting. manus: they are unlikely to get that far and go with a hike at every meeting. if you think of the two huge pivots we have had in the past 40 eight hours, it's action from the bank of england and intonation and tonality from the ecb. one is action and one is preparedness for action and there is a gulf between the two. in terms of where you end up in the boe and where you are in the ecb. lagarde did a great job at that press conference yesterday but she would not be drawn on where lift off would be. dani: the market wants soothing words from christine lagarde. everything will be fine. she would not say that line she said in previous meetings that it is very unlikely we would have rate hikes this year. she did not go there. manus: the situation has changed. when i make statements, it is with conditionality. the risks are to the upside. we are up 40 basis points now for this year. the market things you w

afghanistan and speaking of that, on that front, i want to applaud the new deal that they signed with boeing for $20 billion. one of the largest deals boeing aircraft has ever had and it will support tens of thousands of good well-paying u.s. jobs. i am notifying congress that i will designate qatar as a major none nato ally to reflect the importance of our relationship. i think it is well overdue. i want to thank you again for being here and making this trip for you, your commitment to our friendship and i am looking forward to our discussion today. >> thank you very much. good afternoon. i am very happy to be here. 2022 is a very important year. this is a very strong relationship and i am very proud about it. i am proud of what we have achieved. this afternoon i will be talking with the president about different topics. really about the security of our region. i think we demonstrated how strong we can work together and incorporate this. we are very proud that we were able to evacuate tens of thousands of people. we have other issues to talk about. the people rights of the palestinian peopl

let's take a look at the pricing for the fed, the boe, and the ecb.e can see on a different chart, this is the move we are seeing in gilts, which is absolutely incredible, higher by about 12 basis points on the 10 year yield. you also have seen traders filling their bets forward from the ecb, ending the year 40 basis points higher. we are now at 1.25% by year-end. joining us for more on this market reaction is bloomberg's kristine aquino. this has been very dramatic. why was the market so taken aback today? kristine: i think it really was all of the punchy comments in the very hawkish and different way for the ecb and boe, but hawkish signals for both of them coming today. it has really outdone what markets were already expecting, which was already leaning quite hawkish heading into today's decision. the boe sent a market signal -- sunday hawkish signal -- sent a hawkish signal around the possibly of rate hikes. christine lagarde was not able to repeat that they were very unlikely, and markets took this as positioned to pull forward those rate bets fo

of the families is the fact that the head of boeing at the time, the ceo, president of boeing walkedturn it into a documentary? >> 346 people died, you know, we all fly. i fly, my kids fly. i actually have a bit of a fear of flying and i really wanted to understand what happened. who knew what, when, who was responsible for these crashes and hopefully learn something from that to prevent this from ever happening again. >> what shocked you the most as you were studying it? >> well, i think the thing that was most upsetting. there were a lot of revelations in the course of this documentary but i think the thing that was most upsetting was the report that was done between the first crash and the second crash so as many of us know, these two crashes same plane, the 737 max happened within five months of each other. between those two crashes there was a report done with the support of the faa, the regulatory agency that concluded that this plane would likely crash 15 times over the course of its lifetime. and the faa and boeing during that period of time made the decision to keep these pl

what led to those two deadly boeing plane crashes a few years back. >> boeing has never reached out toccountability, and that is infuriating. for them it was business as usual. my wife and i have three children. ruthann and i like to hike. we eat healthy. we exercise. i noticed i wasn't as sharp as i used to be. my wife introduced me to prevagen and so i said "yeah, i'll try it out." i noticed that i felt sharper, i felt like i was able to respond to things quicker. and i thought, yeah, it works for me. prevagen. healthier brain. better life. it's time to say goodbye to appliance heartbreaks, and hello to new quality finds you'll love on wayfair. you can always get the brands you trust, the support you need, and dependability you can count on. plus, get financing up to 60 months on qualifying purchases. fast and free delivery, and score ge appliances up to 25% off with our presidents' day sale. so with wayfair, you'll always find your perfect match. ♪ wayfair, you got just what i need ♪ veteran homeowners, need a financial boost? the newday 100 va loan lets you borrow up to 100% of you

the boeing 737 max, 5 months earlier in indonesia that killed a 189 people. the crashes expose the system problem in the aircraft, costing boeing billions of dollars and leading to lawsuits. if you're an airline says it made the decision after a rigorous process of re certification by regulators. well, becoming a world costs runner in western kenya is one of a few ways young women can lift themselves out of poverty. but many of the country's top female athlete say after winning big, they lost everything to predatory husbands who steal their hard earned wealth. malcolm lab reports tissues, me grief basi barrier, then tens of thousands of dollars from winning $3000.00 me to steeplechase events will over the world over her 15 year running career. but she says she gave the money to her husband to invest in properties. she said he became violent, then left her and took everything for him. had it motives only he was after my and my switch. so it breaks my heart because when i see the attrition armina at the moment, i sometimes like her. when to say, we says she's n

we had a more hawkish ecb and boe.he kospi, it is gaining 3/10 of 1%, extending those gains from the previous session as it plays catch up after the lunar new year holiday. we have core cpi out of south korea coming in faster than expectation, a growth of 3% year on year, the highest in about 10 years or so. continue to watch those pressures on tech and other sectors across south korea and asia. the korean won at the moment is also gaining against the u.s. dollar. paul: let's take a look at how we are trading in australia after the first hour. flat at the moment. up just by a few points. new zealand a little weaker at three quarters of 1%. keeping an eye on the aussie 10 year, the yield creeping up below 195. we will hear from the reserve bank of australia at the bottom of the hour. the quarterly statement on monetary policy expected to have updated growth forecast. there could be news as to rba's intentions for 2022. energy stocks flat on the asx, surprising considering the action we have seen on the oil price. let's

you could argue it is the fed and the boe that are behind the curve. they ecb may be confused in messaging but we are not looking at policy mistakes yet. >> that conversation is further off. the concept of tightening for the ecb came through as a bit of a surprise after last year's aftermath. we are in a discussion about what does this mean? is this a regime change for the ecb? the implications for the equity market in europe -- this is likely to be a boon for banks especially for their interest income. this region in particular has been waived down -- weighed down. francine: we have a great chart looking at how european banks perform less well than everything else. tom: being swamped by the liquidity from the ecb. in the negative yielding debt has fallen off 1.5 trillion in a single day. jp morgan with a call saying we could see inflation at 2% by the end of the year. kristine aquino, thank you for breaking down the markets. esty dwek from flowbank will stay with us and we will talk china and em. and china coming back from the lunar new year but the l

is this a preview of what we will see for the ecb and boe tomorrow? diving into the charts. we have a great one on what euro bore is pricing in. since the fomc, 20 basis points and extra tightening for september 2020 three. that translates into a whipsaw for the markets. have we gone too far? are we about to see investors caught wrongfooted? the equity market -- yesterday, we saw the biggest today rally for u.s. stocks since march 2020. down about zero point 2%. small-cap futures faring worse. we have a commentary coming out from jp morgan saying to they priced into much recession. we did see losses in january sliced in half. and the aussie dollar went down by as much as 0.5%. prime minister boris johnson is facing fresh fury from his own conservative lawmakers after a report slammed failures of leadership and judgment. metropolitan police are investigating 12 gatherings in government buildings including one in his own apartment. let's get more from our reporter. what did we learn from this report? parts were left out. >> this is an update because of the overlaps with the me

scope for sterling to strengthen as a result of the boe tightening is more limited.ld also make the point that euro sterling long-term value is 84, and since we are no longer forecasting significance divergence between the ecb and boe, we don't think euro-sterling should trade too far away. manus: ok, alexander, welcome to the show. come back and see us soon. let's see how these calls play out. alexander, fx strategist at bnp paribas 360. coming up, another guest joins our team with her inflatio >> the way they have built up their forces, the way they have maneuvered things in place, exit a distinct possibility there will be major military action very soon. manus: good morning from our middle east headquarters in dubai, i am manus cranny. dani burger alongside me at london hq. these are the stories that set the agenda. dani: president biden promises swift action in the event of a russia invasion of ukraine. crude rallies pushing toward $100 per barrel. price pressures. senator joe manchin says the fed needs to tackle inflation head on. ecb officials warn of overreact

the fed, ecb, boe?iven the lack of conviction in markets on that destination, you may get a pretty big recalibration. jonathan: like payrolls on friday, didn't matter until it came out. then it really mattered. let's say good morning to romaine bostick. romaine: one of the biggest movers is peloton. speculation about john foley, who is out. john mccarthy is in. it will be interesting to see the strategy that he takes with the company, whether it will be a standalone company or whether mccarthy positions the company for a buyout by another company. shares down 7%. the numbers are almost immaterial at this point. a decline in the number of subscribers, that was worse than expected. the reason this is an acquisition play, that subscription revenue was on fire. at least with the core customer, this is still a business. tom: i know you will be at the close, but are we actually going to see mccarthy set this puppy up for a takeout? romaine: that is the speculation. he was at a couple of other silicon valley s

you've been quite scathing on boeing to deliver.s there any incremental progress that you can tell us? >> well, i believe that we -- we are getting to a stage where boeing will be able to deliver the aircraft in 24, 25. but i don't think it will come any sooner than that. they -- this particular part is vital to the network and the preplan going forward over the next 10 years and more that we really want to say that. yes, currently i've been hard on boeing but probably with good reason. the important thing is that we've got them out the door in good shape with high levels of quality. so we can get the work rate that we apply to these airplanes. so yes, i believe that it will be some time in late 24, middle of 24 for the 777 one. manus: with the airbus 8350 and the 777, which one are you more interested in? tim: actually both. they are -- the 779 is vital for some of the long range and the 350 is a very versatile aircraft that we fly out to eight hours. and that's a large percentage of what we do. so we're hoping that we'll get those

the highlight of last week was the boe and the ecb.oks at how that played out in the currency market. the boe talked about a 50 basis point hike for members trying to tackle those dramatic jumps in the cost of living. the ecb a similar story, saying optionality is on the table. for our ready audience, the chart of the day looks at the euro against the pound, actually bouncing off the key brags that level. that is going to be a key technical level you want to watch going forward. to me, what was interesting is as we talked about a more hawkish boe, you would think that would yield a stronger pound, but instead, it seems like the ball is in lagarde's court. the more questionable what could happen next comes from lagarde. we will be hearing from her later today. i read the research. i read what everyone is thinking on twitter. the best kind of quote to sum this up came from our strategist in athens, who said the bigger the crisis, the bigger the silver lining for the euro, once again the ball being in the ecb's court. tom: thank you very

picked up 5,000 shares at $208 each the first buy at boeing in nearly ten years for him we talk aboutthis week is a company called corteva. a crop and seed protection company. ceo stepping up with the $2.5 million insider buy. this buy is more than two times his annual salary. how about that the most insider buy this week is a big buy from a big name newmark group chairman howard lutnick. the head of cantor fitzgfitzgerd he bought $4.76 million. he is buying into strength stock has doubled in a year. it is now higher than pre-pandemic levels. this is also his first ever insider buy at newmark mmrk is one to watch gm, cdw and boeing and corteva and newmark group. we do this every friday. this is a segment you will see only on "wex" or cnbc pro. sign up today. >>> let's turn to the broader markets on the opportunity friday and bring in greg branch. managing partner at veritas financial group. greg, you have been right on the ringing alarm bells. if my notes and souring eyes are correct, you think there could be more pain ahead for the equity market? >> i do. look, to be honest, the move

earlier today boe governor andrew bailey spoke with francine lacqua. gov.is likely we will raise rates again. it is more likely than not. do not over interpret it.

boe is set to leave the ecb in the desk by lifting rates and signaling more may be on the way. we are in london and frankfurt. plus, peak earnings results from europe's biggest companies -- the results are rolling in. we speak with plenty more. welcome to daybreak. i am in frankfurt. dani is in london. good morning. dani: roche numbers breaking. 19.8 is where we find ourselves. the estimate had been for 20.4 earnings per share. i should say that sales look like they have beaten expectations for the fourth order. the numbers missing are the fourth quarter sales. the estimate had been for 15.6, not enough to make up for the whole year. they are targeting the core eps in that range going forward so again, the core of the eps is indeed a miss and we will be talking about that on the european market open. the roche ceo on those earnings, interviews at 7:30 a.m. london time. manus: it will be an interesting news conference for christine lagarde. ing says she has to communicate patience over panic because the market is baying for rate hikes. how do they thread the needle as she faces

haslinda: michael, boeing services president. avalon coo, sri lankan airlines group, chairman will be joining us later and of course we are coming to you live from singapore air show. do keep it here with us. meantime, here is the first word news with vonnie quinn in new york. >> vladimir putin is signaling there could be more negotiations with the u.s. and allies. vladimir putin agreed to focus on security guarantees that moscow is speaking. indication that the kremlin will continue diplomatic efforts to ease the crisis at its border with ukraine. jim brewer says the fmo scene needs to move forward to raise interest rates to underline information. speaking to nbc, he told policymakers inflation data and repeated his view that rates should be raised by 100 basis points by july. recent president says job and inflation data show monetary policy normalizing. here is the union's top democrat who believes dutch diplomat who believes flights and urges congress to revise the deal. after a phone call with iran's foreign minister who told

if you'll be, an airlines has flown passenger as a boeing 737 max for the 1st time since a crash, nearly 3 years ago, grounded the aircraft worldwide. 157 people were killed. one flight 2 and ruby went down. your sabbath in 2019, and it followed another crash of the boeing 73795 months earlier in indonesia that killed 189 people, the crashes expose the system problem in the aircraft. those are the headlines on al jazeera. the stream is up. next me we understand the different minorities of conscious across the world that i'm going to have you taken out era will bring you the news and current affairs committee. ah ah. hi anthony. okay. you're watching the stream. it has been over 7 years since a conflict broke out between healthy fighters and present hardy, supported by a coalition led by saudi arabia, united nations, for many years of describe the situation, the impact on civilians as the worst humanitarian crisis in the world. and this january is shaping up to be the deadliest for civilians. earlier we spoke to jacob burns for medicine on frontier for his take on what is happening right

also getting a watch on the tightening of several banks in focus today, the boe and the ecb. >> absolutely. with take a quick check on what is going on. we have a one-week high, part of a we can dollar story. the dollar advancing at the moment. we are looking at the bart having moved to the upside. we did see a lot of money floating into the bond market. according to the features, there are also a lot of socks to watch out for. jk industries as well. they're all ahead of q3 earnings. the forget, we also have just of two hours, oil my numbers from india. >> inflation unexpectedly hit a record high. with that and expected rate hike, the bank of england is expected to deliver its rate rise, the first since 2004. let's bring in our contributor. what has been pricing by the markets -- priced in by the markets? >> the markets are certain that the bank of england is going to move. and 99% chance of being priced in. that lines up in a lot of ways with the bond market action that has been going on. a couple of times over the last few weeks, they have been the ones that have been leading the selloff

boeing dubbing -- doubling down on converting planes to freighters. we know that freighter demand has surged. price has surged 150%. it's about capitalizing on what is trending. we are getting insight from all the big names here. later, we will be speaking to the chairman on its restructuring plans. also, boeing and vp of commercial sales and marketing. plenty ahead from singapore's airshow. rishaad: yeah. after that sinking feeling, we are getting and advancing market at the moment. we snapped three days of losses. the bad news being ignored. pbi way hotter than expire -- expected. nearly double what the estimates were. some geopolitical easing as well with russia announcing that it's withdrawing some troops. we have to look forward to retail sales numbers in the u.s. and the industrial production in this part of the world. chinese inflation numbers coming in, a bit less separatism anticipated by the market. korean data showing that they created the most jobs since 2000 with 1.1 million positions being created in january. and has been about the infla

strong signals coming from the boe. this really coming on the back of seeing the bank of england delivering back to back hikes. the bank of canada is also set for lift off next month. the ecb could be getting in on the action next year. host 2: inflationary pressures not being helped by the supply chain pressures. and the pandemic continues. more tensions simmering in canada. this weekend there were massive protests and spreading across the country. we are talking about incidents of violence around toronto and winnipeg as demonstrations against taxing mandates and covid restrictions continue around these major economies. host: in the meantime, i have been watching some of the events going on at the beijing winter olympics. they are some of my favorite things to watch. this is a special set of olympics in terms of the geopolitical pressure built going into just the opening ceremony but also the nature of being able to hold a massive sporting event in the age of a pandemic but also covid zero, beijing's strategy. we are s

easy opiate airlines of sloan passengers on the boeing 737 max plains for the 1st time. since a crash 23 years ago, 157 people died in the instantly addis ababa in 2019. it led to the bottle. being grounded worldwide, airline says the decision to resume passenger services follows rigorous recertification by regulators. those are the headlines, more news and half now to stay with us for february on a disease. china host the winter olympics, but we'll diplomatic boycott and the corona virus overshadow the event. rigorous debate, them unflinching question up front, cut through the headlight to challenge conventional with them. how did they work? he threw up a date as nascent faculty omicron buried amid continued betsy inequality. 11 east investigates how breakfast the pandemic and changing tastes are causing the great british curry cries, amid the record levels of unemployment and extreme quantity. costa ricans down to the po, february on a, just eop, ah, we might be at on my yesterday, melissa de guest. alibaba hotel by this is us. i was in the gadarian on by that i'm out

they're looking for they just announced a deal with boeing to buy some more jetliners boeing desperately needed because they need to cash. but again, everybody's looking for something for themselves here. i'm just not sure that the biden ministration is where, how much people outside of the washington bubble are aware that asking for guitar to replace russia is an energy supplier. is the equivalent of asking the law office to supply the 6th army at styling gra. well, i kind of, that's a great, great, actually analogy to it. you know, i find it interesting. i believe that we should be able to multitask. but when you have this powder keg thing right now between ukraine and what's happening there, why would he want to start if this is also this back door to tay ron? why would he want to reignite that powder keg and have to going at the same time? do they actually think that iran, no seeing what's going on right now in ukraine would take it would even want to get involved in that. that triangle. i think the state department is just desperate for a wind, but we've known for quite some time di

boeing has a megadeal with qantas for carriers. this is seen as a loss for boeing, for that freight deal. the eyewear maker has come out with a $1.5 million buyback in terms of shares. there shares are currently getting 2% across europe. francine, you have come back from italy with chocolates and goods, so we are on a sugar high. it is good to have you back in studio. francine: i was looking at the numbers. i know you are the expert on what this means, but pre-pandemic it is 3 billion trips these six days, which is incredible. you forget the sheer size of china. tom: normally it is the biggest example of human mass migration on the planet, bar none. restrictions are in place across china, that number will be reduced. a lot of people staying home, not being back with their family, but it is a huge event this week. francine: we will be tracking it, and bring you the latest from china. let's get to the bloomberg business flash. laura: austria central-bank is scrapping its easing program, but says the move does not imply a rise in inte

later today and investors will be gauging comments there to get clarity on where he and the team at the boe stand on additional planned hikes from the u.k. central bank. the yield curve flattening is pronounced today. yields close to seven basis points on the u.s. two-year. brent is starting at $96 a barrel, a little range bound. we come off a little bit but $100 is in play still. and in terms of the ruble, you are seeing a bit of weakness at about 0.4%. the russian assets yesterday paired some of that heavy losses again on the initial round of sanctions were not as severe as some expected. it is a national holiday in russia so no equities trading. we have a look at commodities and that is essential with what is happening on the geopolitics and the commodities space. we see the bloomberg marty's index get back to record highs. -- commodity index get back to record highs. oil and gas getting back to hell of aid -- back to elevated levels. whether it is a europe or the u.s. and the conundrum that poses for the federal reserve and the ecb. they look through the potential growth shock and focus

boe hiked today, that that is gearing up. the ecb -- look, negative rates are not natural.f there was ever to be a period where there was an opportunity to move rates away from negative, it is now. the economy is doing well, growing strongly, inflation around 5%. i think from her perspective she had to move from where she was in december, which was nothing to see here in terms of rate hikes, to a march meeting where there is a recalibration. that means things can change her mind. we think she is certainly queuing this up for a hike this year. matt: they are at -50 basis points right now. it is not unknown for the ecb to move in small increments, 10 or 15 basis points. is that what we are looking for? padhraic: two parts to this. the default rate is -50. that could be jacked up by 10 or 15 basis points to get slowly higher. in terms of the refi rate, which is traditionally the key rate, that probably goes up in increments of 25 basis points. they will start off with that and then slowly move us out of deep negative territory. by the way, futures are discounting that moves in

inflation unexpectedly accelerated in january, adding pressure for a boe rate hike.ll look at the numbers, next. this is bloomberg. ♪ francine: welcome back to the open, 43 minutes into the european trading day. there is a bit more of a lift off on the european stocks. 15 minutes ago stocks were rising. traders are weighing the impact of reducing tensions over ukraine with the prospect of tightening global financial bank policies. the impact of rising inflation on policies is key to the markets. we have the fed minutes a little later and data points. there was a landmark ruling from a court in poland and hungary facing an important ruling from the eu top court that could lead to both countries losing access to billions of euros in budget aid. the countries had challenged last march things we heard from the bloc because they wanted to introduce tough new powers linking payments to the rule of law. the top court saying they have backed the eu and their ability to cut funds to poland and hungary if they do not respect the rule of law. it does not mean anything will be c

moving on now in ethiopia. airlines has flown passengers on a boeing 737 max for the 1st time since a crash nearly 3 years ago. grounded the a craft worldwide. 157 people were killed when a flight to nairobi, went down the addis ababa in 2019 and followed another crash off the boeing 737 max, 5 months earlier in indonesia that killed 189 people. the crashes expose to system problem in the aircraft, costing boeing billions of dollars and leading to low suits. if you open airline says he made the decision after a rigorous process of re certification by regulated becoming a world class. runa in western kenya is one of the few ways young women can lift themselves out of poverty. but many of the countries talked female athletes say, after winning big, they lost everything to predatory husbands who steal their hot and well. malcolm web, explain it to me. ruth boss, sabrina then tens of thousands of dollars from winning $3000.00 me to steeplechase events all over the world over her 15 year running career. but she says she gave the money to her husband to invest in properties. she said he bec

the boe rate this morning had almost half the community looking to be the more aggressive and then youad the ecb, not making a policy move. lagarde indicating they needed to raise rates like they had in the past and we have seen interest rates rising and this inflation update on amazon earnings going up by $20. so, that is a real problem for the markets going forward with this benevolent backdrop and low inflation coming out of the pandemic and a structural shift. it is an incredible amount of uncertainty that investors are dealing with. romaine: how does consumer and business spending hold up, michael? michael: to tell you a truth, i don't know. i don't have a crystal ball at this point. seeing this inflation continuing to be resilient here, it's a problem. oil ticked at $90 per barrel today. opec came out with their decision and said they would increase production in january. a whole set of factors out there that is hard for businesses and consumers to know how their balance sheet is going to look later this year and how they will be able to spend. taylor: appreciate the insights in

tom: the high wind, it is absently spectacular to see the boeing and airbus planes. one of the commentators, "mad skills, nice one." jonathan: is that your impression of someone in the u.k.? [laughter] it was, wasn't it? that was it. futures up 0.5%. this is bloomberg. ♪ ♪ jonathan: a bloomberg subscriber just wrote in and said lisa's english accent is more authentic than mine. lisa: oh yeah? mad skills. jonathan: beautiful thing. mad skills. i don't think i said that for about 15 years. maybe 20. futures up on the nasdaq. a bounce back by 0.6 percent. yesterday evening, a scheduled meeting for next week between mr. lavrov and secretary blinken to lift the tone. the sentiment improves in the equity market. 10 year, 1.97%. yields up by not even a single basis point. sub 1.50% still on the two-year. it is time for the core of this fed to get a hold of the narrative of what to look for for next month and beyond. tom: the chairman has got to speak. jonathan: it is an important step forward to have the core of this fed make their voice heard about what to expect here beca

trend going on there, and if you're wondering what company did well, what company took off it was boeing after securing a $34000000.00 deal with consort airways this month. so that was up about 4 percent . a little bit of positive news overall. not that strong this part of the year. alright, james sweeney at the end of last month on wall street. thank you very much. you're welcome. the u is meanwhile, seeing slower growth across its economies. new figures release today show the block, expanding 4 tenths of a percent in the last quarter. our countries are mean while recovering at different speeds. france saw its economy expand by 7 tenths of a percent. while the german economy contracted by the same amount. now earlier we spoke with neil wilson, his chief analyst at market dot com. we asked him why countries were fearing so differently. that the dragon in germany probably reflects a automotive output being, being down quite sizable last year. that is a big problem for our, for the eurozone economy. i think that the numbers in france were encouraging. but of course we're, we're doing with

i checked with boeing.ying boeing is going to be -- if you've been hording since 2014 and you have at lo of planes on the ground, then, you know, you're okay. stwrm providing they don't watch the netflix documentary. >> right which you've been talking about. maybe the downfall. >> yeah. it's -- i've been hearing about it i haven't seen it. >> i think you should watch it. >> doesn't come off well there. >> yeah. >> i'm not a member of the justice department. >> right i've heard that from others. >> i'm not serving in the justice department. >> there may be indictable offenses there. >> they punished the company she couldn't take it but the fact is the company -- the company had criminal cases now when you have the big fines, david, who pays them >> share hold erls >> thank you. >> yeah. i rest my case. >> i know. >> shareholders are supposed to be the ones that are protecting. >> i think bowing is a great company. it has a good defense business it has many overruns therefore don't get too excited. i think it

kailey: let's focus on the other half of super thursday, which is the boe.ow is this conversation different for andrew bailey and co.? simon: this is a really difficult communications for andrew bailey. he has the harder challenge. an hour before he stands up tomorrow, we are going to get an announcement from the u.k. government what they are going to do with what are skyrocketing energy prices. if they do a big policy intervention, then effectively, the moment enter bailey stands up, he's going to have to disown his own inflation report that he publishes once a quarter. that is a really difficult thing for any central bank governor two. the second big thing is it is widely expected the bank of england does raised interest rates by 25 basis points. they are reaching the threshold by which they preannounced they are going to consider doing quantitative tapering, either passive or active cell down of their guilt and small corporate bond holdings. what does that profile look like? he's also got to communicate that into the market. that may generate considerable

certainly in europe, we have that in the form of the boe and ecb. see what happens afte -- after super thursday. guy: is that what we are calling it? we had pat harker on a little earlier. he's talking about march, nailing down the idea that we are going to see some sort of a hike, maybe in march, 25 basis points. post the last fed meeting, what is the market signaling about whether or not it believes the fed is going to do all that is expected of it? that comes back to this question of what you do with equities. do you believe the fed is going to go five times, seven times, depending on your call on this? if you don't believe that, equities look significant more attractive, assuming we don't get a growth slowdown. kristine: in terms of what we are seeing, it really took them a while to get with the fed in terms of what it was signaling, even dating back to december at jay powell's press conference, when he was saying three rate hikes back then. that seemed like a lifetime ago, but even then, when he explicitly signaled three rate hikes, it took the