you will hear from president christine lagarde. credit suisse down another 6.5% in zurich trading off the back of raising another $2 million and taking another $600 million hit off the back of this archegos chaos. tom: the intraday chart on credit cease is fragile, down 6% ash on credit suisse -- on credit suisse is fragile, down 6%. jonathan: lisa, raising capital, raising capital. the issue for credit suisse's we have seen this story so many times in recent times and over the last years, too. lisa: we still don't understand exactly what happened at credit suisse. a lot of banks are evaluating how much they will extend within their credit units. of course, hedge funds pushing back and saying that would tip their hand and subject them to potentially bad publicity. jonathan: are we calling this a hedge fund now? for all intents and purposes -- lisa: for all intents and purposes. jonathan: i think it is an important question to ask because, if you are a hedge fund, i think you're are thinking, what are they? are they a hedge fund? li

christine lagarde will be pressured to reveal how much longer the euro area needs intense support. edits are today. -- and it is earth day. president biden is set to unveil a new plan on emissions as the united states gets back around the table. annmarie, it has just gone 7:00 a.m. they are addressing the wreckage of our take a. the net loss, 252 swiss francs, less than the consensus of 760. however, the guidance is there is more to come in the second quarter. credit suisse has 97% of the remaining positions. >> a lot of shareholders are having a sigh of relief this morning. also a sigh of relief when you look at the outlook. they say they will restore the dividend in 2021 before receiving buybacks. a little bit of movement on the dividend front. they also see the second quarter performance reflect a market slowdown. that is something to take into consideration. potentially more pain to come in the second quarter. manus: yes. if you think back to some of the issues, it is going to be interesting to see what the ceo says to francine later on, what is going to happen to the asset man

anna: that was the ecb president christine lagarde.nstitution isn't discussing the phasing out of its emergency bond buying even as it sees signs of the economy starting to shake off the coronavirus pandemic. this comes as the number of the block nations are planning to slow easing of restrictions. italy, france, and greece are planning to loosen coronavirus rules in the next few weeks to varying degrees. it is an interesting development. lucy coutts is still with us. let's start with the ecb. that was quite a dominant theme in markets yesterday even though there wasn't a great deal of new information. that you take anything much new away from what we heard from the ecb? lucy: well i think what you have seen in that clip is how deliberate the language that christine lagarde uses. i'm going to refer to this because i don't want to alter what she said. she was very careful. the eu, the consumers remain asked really cautious. she expects headline inflation to rise in the short-term on temporary factors. longer-term expectations remain at

jonathan: from new york to frankfurt, germany, we need to catch up with the president of the ecb, christine lagardes take a listen. pres. lagarde: continue to constrain economic activity in the short-term. looking ahead, progress with vaccination campaigns and the envisaged gradual relaxation of containment measures underpin the expectation of a firm rebound in economic activity in the course of 2021. inflation has picked up over recent months on account of some idiosyncratic and temporary factors, and in increase in energy price inflation. at the same time, underlying price pressures remain subdued in the context of significant economic slack and weak demand. preserving favorable financing conditions over the pandemic period remains the essential to reduce uncertainty and bolster confidence, thereby underpinning economic activity and safeguarding medium-term price stability. euro area financing conditions have remained broadly stable recently, after the increase in market interest rates earlier in the year. risks to wider financing conditions remain. against this background, the governing council

plus, our exclusive with the ecb president christine lagarde. rishaad: and the latest on the block trade blowout. the s&p opening up a per the minari investigation -- up a preliminary investigation. deutsche bank manages to avoid a loss. we have details on that next. this is bloomberg. ♪ robert: building back better was the central theme of joe biden's presidential campaign. it's what the country needs. this is all very much on the right track. i'm particularly excited about the infrastructure investment program, i'm particularly excited about the green aspect. >> among the highest return investments in terms of spurring private investment. we know public investments in airports return several dollars in private investments. investments in r&d provide the backbone off which private investment flows. these are the investments that can spur the kind of private investment we need. rishaad: the dallas fed president said some inflation will be a likely trade-off for the biden infrastructure spend. but what about long-term gdp? robert spoke to bloombe

ecb president christine lagarde also pushing back against any suggestion, i'm not sure how big a suggestion it was, that the ecb is thinking about stimulus. ms. lagarde: we stand ready to adjust while the risks surrounding the euro area growth outlook over the near-term continue to be only downside. medium-term risks remain more balanced. the ongoing pandemic, including the spread of virus mutations, and the amp legations for economic conditions continue to be sources of downside risk. an ambitious and coordinated physical response were means crucial -- response remains crucial, amplifying the longer-term scarring effects, we did not discuss any phasing out because it is simply premature. guy: joining us from frankfurt is bloomberg paul gordon. he heads our coverage of western european central banks. you know every not, every bolt. you listen to every utterance. you figure out what they mean. you translated for us so that we can understand what is happening at the ecb and the direction of travel. i'm struggling today, really struggling to find anything i can take away from that press confer

christine lagarde comes out singing from a very dovish hymn book, and people aren't buying it. wonder how much that will undermine her ability to message to this market. jonathan: talks on june 10 will be much more complicated. officials saying they could be heated. tom: you mean ecb or "surveillance?" jonathan: both, given the last couple of minutes. tom: i would call this a "surveillance" snooze fest. jonathan: keep selling it. the "bloomberg surveillance" snooze fest. jim paulsen coming up later. he can't wait to join. [laughter] on radio, on tv. it's friday. this is bloomberg. ♪ karina: with the first word news, i'm karina mitchell. president biden is proposing a capital gains tax almost twice as high as it is now. those earning $1 million or more could pay as much as 43.4%. the president wants the increase to help pay for a raft of social spending to address inequality. russia is withdrawing thousands of troops from the ukraine border today. western leaders had called on moscow to pull troops back. there were fears conflict could lead to new economic sanctions. panasonic h

these headlines from christine lagarde reiterate that.you see that happening, or does it stay a u.s. story? nathan: my view is that u.s. exceptionalism, the strong growth, rapid rebound and expansion, is here to stay. but by the same token, i also expect that there will be a nice bounce in europe, particularly during the second half of the year. europe has trailed the united states and its vaccination efforts. think it is going to catch up, and that is going to allow the same kind of normalization dynamics to take hold. not as much fiscal, but there's going to be a nice ounce in europe during the second half of the year. that may be more of a surprise to many investors, the relative strengths of the european economy as the year progresses. guy: i am not going to ask whether or not you think all of this is going to be inflationary because we can go round and round on that yet but if it was to be inflationary, how would you position a portfolio to be ready for that and -- that inflation? nathan: i think that the inflation we will get here i

anna: christine lagarde speaking to bloomberg exclusively this week. have a look at where we are with futures. futures showing very modest gains for this early stage. likely to be a quiet day because of the holiday this week and next week around easter. we will keep that in mind, this is the last trading day of the week of the month, the quarter. the first trading day i should say of the month and the quarter. >> we are told europe's largest asset manager has pulled ahead of rivals including state street and could reach a deal in the next couple of weeks. one of europe's largest ets providers. taiwan semiconductor is planning to send $100 billion over the next three years to grow its chip capacity. tsmc is the world's leading manufacturer of advanced semiconductors. it was already planning record expenditure but is now pushing for even more. it says it is working with customers to overcome a deluge of demand. giving young investment bankers a $10,000 allowance for 2021. it is also encouraging staff to take time for themselves on friday nights and until

after thebreak an exclusive interview with christine lagarde. we'll discuss the challenges still facing the kaunt nept as that economy lags the united states you're watching "closing bell" on cnbc. all the things, all around you where you learn, work, and fly we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner, from the things you touch to the air you breathe. today, more than 100,000 of us are innovating to ensure spaces are more efficient, healthier and safer. abm. making spaces healthier for you. the world around you may seem like an immovable, implacable place. it is not. it can be bright. quiet. and safe. it's a change that will be felt from this street. to this street. to no street. and everywhere in between. all it takes is the slightest push in just the right place and that will be the tipping point that changes everything. ♪ ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. and that will be the tipping point that changes everythin

ecb president christine lagarde give us a 30 minute interview yesterday.e want to stay with europe. another sign that the region is losing control of the pandemic yet again. french president emmanual macron last night announcing a new four-week nationwide lockdown. closing schools and businesses. germany and italy also extending their partial lockdowns. >> these restrictions in place in 19 departments under strength of surveillance. they will be extended for the old metropolitan territory this saturday evening for four weeks. annmarie: emmanuel macron last night. caroline is in france right now. how strict is this new lockdown going to be? >> this is much stricter because it is extended to the entire nation. it is not only regional. schools are going to close for the next three weeks. this is something that president macron has been trying to avoid for weeks now. france has only closed schools for 10 weeks for the beginning of the pandemic, compared to 28 weeks in germany. this is something that president macron has been trying to avoid. he said we tried t

we get that ecb rate decision followed at 8:30 eastern time by christine lagarde's press conference. the key question will be after june, what happens? will the ecb continue after june? how much inflation will they tolerate? and what bonds will they be buying? these are all some of the questions that christine lagarde will be facing amid a rather -- i one is a split, but you hear different things from different arms of the ecb body, which perhaps is a bit of a problem. president biden is going to kick off this climate summit that is being held virtually. we already talked about the idea that the u.s. is going to be aiming to cut their emissions in half by the end of 2030. key question is, how much momentum can he generate and how much credibility can he engender given what kind of financing the u.s. can promise behind this. i wonder at this point whether this is even useful data. the key question is, what information can we glean from data that is highly messy and suspect. at the same time, is there a sense of how much service deployment is being brought online? how much we are seein

christine lagarde is going to be speaking at the aspen institute. let's look what's going on across assets. a little bit of selling in the treasury market. yields higher about 1.63% on the 10 year. brent crude 66. they decided to have an opec meeting and they decide they're going to keep an eye on india, but they will continue to supply more to the market. commodities have been on an absolute tear. goldman sachs saying $11,000 a ton is where they see it going. commodities rallying 13.5% in the next six months. we have earnings season with executives joining, talking about prices increasing. that is being passed on to the consumer. what does this mean for inflation? we will hear from joy powell -- jay powell. joining us now is caroline simmons. i want to start with the earnings results. we had a stellar quarter so far. headlines dropping from deutsche bank. what do you make so far, because the results have been quite good, but global equities kind of shrugging it off. >> it is going to be a strong quarter for earnings growth. it is maximum momentum f

ecb president christine lagarde confirming a sig. -- a significant leave faster pace a bond buying. the ruble reacting positively. credit suisse to raise $1.9 billion after the archegos news. it is not exactly the most riveting day in terms of market activity today.

ecb, christine lagarde has some explaining to do. certainly in expectation there.e climate summit. credit suisse will be fascinating. alix: very much looking forward to that as well. also, we were just discussing there was, looking at potentially a diplomatic boycott of the beijing olympics from the u.s.? what you think about that? guy: it does make it more difficult to try to convince everybody to be on the same page when it comes to the climate when you threatened to boycott their olympics. i remember a brit winning the 100 meter final when the u.s. pulled out the moscow olympics. that was long time ago. alix: your old, so that is all right. coming up, nathan sheets will be joining "balance of power" with david westin. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, c

are you more interested in what christine lagarde says or what she does not say?erto: we are more interested in what she does not say. at the moment there is not a lot of things the ecb can do. they are running on all cylinders. the question is when will the discussion about the end of the emergency purchase program start. tapering. also there are other long-term discussions about the strategic review of the ecb, about average inflation targeting, which are going into play during the summer. there is another important factor, which is central bank currency. a lot of central banks have talked about this, and ultimately this is something that could unleash a lot more levers for monetary policy. for example, interest rates could become more negative or central banks could inject money into firms directly. that is the ultimate fear, not for today or this meeting, but it is a lot more interesting to hear what they do not say. jonathan: alberto, we have to leave it there. good to hear from you. football and a little bit on credit and the markets and the ecb tomorrow. al

christine lagarde saying scaling back stimulus is to print -- too premature for them. we are going to start with the tangible data. joe: we don't know what the future is going to be. inflation, normalization of policy. all up in the air. in the u.s., the momentum continues. jobless claims out today continuing to fall a little over half a million, which is high by historical standards and continuing to come well off the worst levels we have seen. romaine: ongoing state benefits also down. joe: i want to welcome the nobel laureate and distinguished professor of economics paul krugman. thank you so much for joining us. let's start here and now with the economy. widespread optimism. a little bit of concern about inflation. is there anything right now that worries you? >> i am still not entirely sure we have the pandemic under control. we think we have got it but a little bit alarming. larry summers is not being completely foolish. it is a lot of money we are throwing out the economy. it could be a problem. i think we have ways to deal with it. we are giving a really big bo

president biden by central bankers such as christine lagarde head of the c.v. saying they're putting green concerns at the top of the agenda how quick or slow central banks to respond well i think it's really one of the most remarkable shifts in the financial sense system the what was central banks doing if we look back to 5 years ago when the paris agreement for climate was signed hardly any central banks are really considering climate change is a key factor in terms of financial stability and risk we now have nearly 90 central banks and supervisors who are signed up to the network for greening the financial system this includes the people's bank of china includes the bank of england the bond of france the central banks of brazil's in the pool and of course now the u.s. u.s. fed and all of them are saying tackling the risks of climate change is at the core of our mandates and our mandates to look after and make sure that the financial system it is is secure and safe and sound. so that is a that is a remarkable shift in what we're seeing i think is we're perhap

the countdown to christine lagarde is coming thursday. lisa: especially because said officials are all quiet in a blackout period ahead of their next meeting. i don't know if i want to go back there. meeting to approve a new plan. a union of european football associations for the are coming together to approve a new plan to try to make the teams play more games and to split some of the money among the teams. this is an outside observer's analysis of the system. that is why we are talking about the breaking away of the super league that wants more money for itself. i am sure everyone will analyze it way better than i did. senator joe manchin of west virginia will be meeting with coal mining union leaders. how do you push a plan for a better carbon emission footprint in the u.s. while supporting the jobs so essential to the west virginia and economy. 1:15 pm, president joe biden meeting with congress members. joe manchin would like to see biden take a more bipartisan approach before he signs on. how much is this in good faith? can you belie

euro-dollar just about clinging onto 24 hours out from ecb decision and christine lagarde news conference. >> talking about vaccinations it's a rite of passage and there is an excitement that your body is doing something with this. just want to put that on the record. what i'm looking at, we will look at the eia crude inventory. there is a push poll dynamic here. you have an increase in supply but you of the increase in demand until now. how much is the increase in the pandemic cases in the covid case in places like india and asia. japan in particular going to crimp some of that demand. then today we are going to get 1:00 p.m. the $24 billion sale of twenty-year notes. interesting to see what the take-up will be. a lot of speculation has been they have taken on a big proportion of this. i mentioned no how big of a role. tom: 20 year bond you are doing on radio? lisa: this is just tv. apple, google and spotify -- will hear. tom: what color imac are you going to get? lisa: minor going to -- tom: continue please. jonathan: lisa, thank you. netflix down by around 8% in the premarket. pull for

we have christine lagarde on this afternoon it's at 3:00 p.m. eastern time technically you can watch it for free as long as you have cable >>> we have breaking news on pfizer we have that story meg. >> pfizer saying it isfiled with the fda to expand its emergency use authorization for its covid-19 vaccine down to include ages 12 to 15. it's already cleared for folks 16 and up. this comes about a week and a half after pfizer presented those data from the study in kids ages 12 to 15 showing 100% efficacy but zero on the vaccine in this expansion trial of 2260 add adolescents in the u.s the next step is how the fda handles this if they want to hold the same public hearing with their outside advicers for the first covid vaccine to go down and when we'll see that happen big step for pfizer. potentially getting that vaccine in time for back to school in fall back over the you. s >> could be great news is it the same dose, meg in. >> this one is the same dose they will be testing lower doses as well. >> it sounds like the younger you are, that second s

the ecb on thursday, many saying christine lagarde is going to sound more optimistic.oldman revising their forecast from 121. what do you think, esty? more for the euro upside? >> it depends on your investment horizon. after the recent drop, we have priced in some of the worst news . the slow vaccination, the data that is disappointing, that should ease over the coming months. i have trouble seeing the euro strengthen on european reopening because everyone expects it, right? we know vaccination is set to pick up in the second quarter. there should be more reopening. eu recovery fund should start disbursing funds and support growth. the catalyst for stronger euro is tougher for me to see is a context where the dollar should continue to hold up with better growth, more stimulus, and higher carry. foreign investors are starting to shift a bit more into treasuries, supporting the dollar as well. manus: one of the pieces of data we chewed over was the chinese growth data, up 18%. if i look at european stocks, they have to to a certain extent vicariously lives off the china

in christine lagarde, one of her biggest criticisms of bitcoin is that it provides an escape route fromcies and the negative interest rates. once they have control through central-bank digital currencies. but i think more and more people will consider that as coming back to that store value proposition. juliette: another criticism is carbon emissions. bitcoin mining is consuming 66 times more electricity than it did back in late 2015. do you think there will be more regulatory scrutiny on carbon emissions, and do you think it will impact investors that are trying to be more green and clean? richard: i think that the esg argument is the last thing that people are hanging onto, in terms of the negative criticism of bitcoin. sure, it uses a lot of electricity, but i could tell you used to be a cryptocurrency mining company prior to rolling out the full financial services business and we divested our cryptocurrency mining business. i can tell you that the most important thing about mining is efficiency. and that's efficiency for machines, electricity, and infrastructure, and sort of locatio

wednesday, we will meet with christine lagarde and jay powell. bank earnings kick off the season.ldman sachs, delivering their numbers. friday, it is the japanese prime minister, yoshihide suga, and joe biden. dani burger has a track on those numbers. ficc, there you go. that is all that matters. ficc. dani: that is all that matters, but not just that. part of the reason that he did so poorly last year, at least in the beginning of the year in terms of their share price, moving lower, it's because of the low reserves. we should get an opposite picture of that this quarter. we should get a huge release of that money set aside for bad loans so that means profit at banks will go much higher. we have better margin pictures with the steeper yield curve. analysts i heard said the rally might not even be halfway over because it is said to be such a stellar earnings quarter. not just better markets and better ficc results, but you also have to imagine the investment bank itself will do very well thanks to the ipo's. risk management might be a question among analysts on a lot of these call

christine lagarde speaking. then the big one friday. it seems to come around awfully quickly. report. alix: i am excited about that because i feel like -- we've been hearing we could see one million. i think i remember ethan harris of bank of america saying 2 million could start happening in the next couple of months. these will be some huge job numbers we could see, especially people start coming back into the workforce. guy: in order to get back to full employment, you have to have those types of numbers month after month in order to put the u.s. economy back where it needs to be and where the fed thinks it needs to be. the sense is if you listen to the regions, you start hearing about job shortages. i do not know how the fed balances that one. there are pockets of shortages. a shortage economy is becoming real. alix: it really is. higher wages, perhaps? no longer transitory. that wraps it up for me and guide. coming up on balance of power, austan goolsbee and barbara perry of the miller center. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave hi

going into an ecb news conference and decision with christine lagarde tomorrow, this one could get interestingook adjusting. euro-dollar calls from deutsche bank looking for $1.25. does the ecb let yields run if they start to pick up and it is consistent with the better outlook? that is going to be an interesting one for the next couple of months. this is bloomberg. ♪ >> we've just been hugely stress test here after this bond yields tantrum, and the market has survived. >> we are looking not just at the peaks. we are looking at the sustainability of these trends. >> what we have to question is have things structurally changed. >> the bond market is telling you, not so fast. the fed has the upper hand. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone.

are you expecting a change of tone from christine lagarde?ames: it was always dangerous to get me started on football. manus: no, we like it. we know you lost your manager last night. [laughter] james: don't get me started on that but let's just say that i feel fairly confident about the future now. ecb i think is a tough meeting actually. getting to the stage now where the ecb is likely to be trying to edge itself away from uber, dovish policy and language, getting into that transition. we have seen some signs of that, huge disagreement on the government counsel. there is the need for every message to be nuanced to keep hawks and doves on board. makes it a very complicated one. communication has been awful of late, awful for investors trying to work out what on earth they are doing so it is a tricky one and we could see some missteps. annmarie: one to watch out for tomorrow. thank you so much for joining us and your insight on football this morning, james athey, investment director at aberdeen standard investment. just ahead on the program,

alix: ecb president christine lagarde says government cannot afford to let up evidence -- to let up effortspport the region's economy. that is policymakers decide to ramp up a bond buying under their $2.2 trillion emergency program. joining us is bloomberg opinion columnist marcus ashworth and still with us is karen ward. marcus, what did you make of the fact that we saw such strong demand for assets out of italy today? marcus: the fact they priced it cheaply. i get the point they have not issued in five years and they have to make sure this went well, but there is cheap pricing and there is ridiculously cheap pricing. there is a 2067 existing bond. adding an extra four or five years should not have much of a curve affect. they priced it 14 basis points cheap. whether that is the right measurement or not, look at where it trades now, which is three bond figures higher than where it came. that is an awful lot of money to leave on the table. no wonder you get 12 times coverage of the deal. it was an absolute after. -- it was an absolute gift. guy: karen, you talked about the financials within

>>> coming up, christine lagarde.be right back >>> and now, the latest from trading nation.cnbc.com and a word from our sponsor. >> different sectors tend to do well in different periods of the economic cycle when the economy is expanding, industrial and technology stocks have outperformed the broader market however, when the economy is contracting, more defensive sectorings such as utilities tend to outperform >>> welcome back, everybody. it's been a wild ride for biotech. the sector went from being hated a few years ago to being loved or at least needed during the pandemic, but now the ibb etf is 15% off its recent highs so drug pricing worries still creep back into the picture our next guest still positive overall. alethia young is a senior biotech analyst at cantor fitzgerald why is biotech limping right now? >> a little bit it's related to what's going on with the fda in my view. there have been some regulatory delays related to new drugs. some are related to covid. so we've seen a lot of delays, some complete re

we'll get more on that tomorrow we have an exclusive interview with the president of the ecb christine lagarde right here on "closing bell. that does it for us, "fast money" begins now. >> i'm melissa lee this is "fast money" tonight's trader lineup tim seymour -- tonight on "fast money", kds coming up how investors can navigate troubled waters plus, academy sports outdoors rising in the ranks, we'll break down what this company is and why day traders are piling in. later, for sale side of the times, the health of the housing market starting with big rally in big tech, sector closing in all-time high, microsoft, alphabet, facebook all touching new records today. look at how the mega stocks have done in the past month, facebook up 20%, alphabet more than 12% so is this tech turn around for real this time, dan nathan, i'll go to you. >> it's in the mega cap we've seen it for months the seeing the apple, amazon go side ways seen it break out last week with alphabet, facebook and microsoft and now amazon playing catch up here i like all those names, that's where we want to be if we ever get a pull

christine lagarde the president of the he can ecb speaking 30 minutes' time we will see that she saysm emergency stimulus. >> canada first to taper in, asia overnight mieshd story in japan up better than 2% on the session, others fractionally moving "mornings with maria" is live right now. maria: now some top stories that we are watching this morning, president biden calling for u.s. greenhouse gas emissions cut in half by 2030, as part of today's virtually climate summit leaders from over 40 countries including russia and china also xhpd to unwind several trump-era policies, he said eased environmental rules, vice president kamala harris finally taking a trip to address the growing migrant crisis but not what you think she is not going to the border instead will visit central america so-called northern triangle regional in june. this comes after a virtual meeting with president of guatemala on monday, harris is yet to visit u.s. southern border where 172,000 migrants tried to cross illegally in march alone, story in business this morning, credit suisse, looking to boost capital base

christine lagarde will be pressured to reveal how much longer the euro area needs intense support ofss conference. it is earth day and president biden is expected to unveil a new pledge on emissions as the united states gets back to the table. all those headlines through the next hour of programming, but 20 seconds until the start of the european equity trading session, and futures are pointing to the upside. u.s. equity markets had a strong session yesterday. some closing strongly to the upside. as a result of that we are expecting a little catch up here , and we will keep an eye out for that. we have the earnings season really running in the heart of it in europe. u.s. earnings and european earnings, and it does seem to be firmly on investors radars. we are tracking the global story , the emerging story with a focus on india and brazil around the virus and the spread of the virus. the ftse 100 is up by 0.8%. the cac quarante is up 0.3%. we will wait for the dax. a rally in the u.s. commit -- continued into the asian session. let's put these competing themes together. monica defend,

how close will we get to christine lagarde's 2% target?ble] this diversions between the u.s. and the euro zone is a story where we gain further traction going forward. the two blocs are drifting further apart. almost double the contraction of the u.s. experience. going forward, it is likely to experience lower growth compared to the u.s. 4%-4.5%. the main reasons are quite obvious, first the vaccine rollout is very slow. and there are issues of shortages of doses. and fiscal stimulus has been smaller in size compared to the u.s., and less timely. that matters. the recovery funds that have been approved, but it will take time to hit the economy. matt: not an eye-popping amount or money ready to be spent yet. over a year into the pandemic, europe works in different ways than the u.s. we will keep you with us. sylvia dall'angelo, senior economist, hermes fund managers stays with us. i want to look at the stoxx 600. the gains we see today at the start of the session have been enough to erase the pandemic losses. this is only a one year chart,

wednesday, we hear from christine lagarde.the atlantic, jerome powell will also speak at a moderated q&a. bank earnings season is soon upon us. we will get results from jp morgan and goldman sachs. and on friday, a white house summit between the japanese prime minister and president joe biden. prime minister is the first foreign leader to meet joe biden in person since he was inaugurated in january. those in person meetings so difficult. 15 and its to go until the start of the trading day. let's focus on the european vaccination rollout. the campaign met with delays and missteps but markets are wagering that the pandemic is on his way out and sentiment is turning positive after a delayed start in immunizations and mistrials over the astrazeneca vaccine side effects. france met its goal of many -- of -- and germany has doubled its piece of vaccinations. joining us now with more is -- maria tadeo in brussels for as. news out of germany after the easter time -- that news seems to be substantial. maria: look, we have spent weeks t

we'll get more on that tomorrow we have an exclusive interview with the president of the ecb christine lagardens now. >> i'm melissa lee this is "fast money" tonight's trader lineup tim seymour -- tonight on "fast money", kds coming up how investors can navigate troubled waters plus, academy sports outdoors rising in the ranks, we'll break down what this company is and why day traders are piling in. later, for sale side of the times, the health of the housi

central banks beginning to taper back in focus thank you european traditional intiefrng president christine lagardeession this year when covid-19 cases increase canadian central bank striking more optimistic tone pointing to potential end of stimulus mohammed, what hear from canada what are you expecting to hear federal reserve when it meets in this upcoming next week. >> so canadian recollected one economy picking up second imbalances they indicated that they could start to taper. this is what we should be doing, because we have also financial imbalances but that is not what fed is going to do, next week the fed is going to tell us that the outlook improved and that -- we have to wait till june to see if some movement within the fomc i don't expect much this was become outcome based fed anything likely to be late. >> that is interesting your assessment of the federal reserve, you said we should be beginning to taper, but we're not why not mohammed? >> a well, we are not for two reasons, one is that the fed has changed its framework it went from cost base we hadover from to outcome base want to see

central bank >> hey, joe, yeah, talking about growth, this is the european central bank president christine lagardeis quarter and business investment has shown some resilience but all of this together is highlighting the differences between europe and the u.s it looks like they felt it twice as much as we did last year and come back half as much this year, at least the forecasts that are out there and lagarde says the vaccination campaign should pave the way for rebound in activity in 2021. and you heard the atlanta forecast of 8% in the first quarter. we have, let me just check here, 6% plus, in our rapid update and lagarde says the virus continues to be a source of down side risk, and headline, inflation she thinks will increase in the coming year and then subdued, there will be some increase of underlying price pressure. one more thing, joe, they're monitoring the european exchange rate which has been a source of disinflation with the strength of the currency. but you know, stocks in europe have done about as well or better than the u.s. but the growth in terms of the responses of the fiscal sid

been a little quiet has said we are going to let things continue to play out whereas, in europe christine lagarde good question a quick commercial break and more about fed reaction much more on march jobs' report after a quick commercial break. stay with us. new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system fo