weinberg. carlgood time to speak to him about the global economy and how it links to chair yellen. much more through the morning -- alice risen will be with us and maya macguineas. next is carl weinberg. this is bloomberg. ♪ tom: this morning, markets touring. with aait chair yellen key press conference. the rumor is that they will raise rates. democracy at work in the netherlands. look for a vote in the netherlands as they decide on immigration. is president trump distracted by angela merkel visiting tomorrow. he and the gop attempt to repeal and replace quickly. good morning, this is "bloomberg surveillance." i am tom keene with francine lacqua on a busy week. what is the thing in europe you are most focused on? francine: spreads. french spreads and swiss spreads. it gives us the image of monetary policy. gives us a sense on how the market perceives political risk. i thought that was extremely important. a lot of the right wing concerning politicians are plateauing in terms of popularity. tom: we

i'm getting ahead of myself, what i liked your piece, your marketsh on live earlier on carl weinberg.we care about the chief economic of high-frequency economics? opinion and had an he does not mind being an outlier. he is calling for the ecb to start talking about tapering as soon as this week. that is not the consensus view out there. he is saying there's not enough bonds for the ecb to buy. at some point, they have to face up to the truth. right now is a good opportunity to do that because we have headline inflation high. the ecb is likely to revise its forecast for the economy higher. why not kind of get the markets comfortable with the idea that the bond banks are not here forever? mark: i was right on the budget. that is tomorrow. that is the big event in the next 24 hours. the house of lords on one side and you have various pieces of economic data pushing sterling through. a level of 122, which we have not seen for a month and a half or so. paul: there are plenty of things out there weighing on the pound. there was some discussion earlier in the day. is the house of lords debat