good luck, christine lagarde. we've seen going back to the 1990's, a move of 30-basis points on the 10-year maturity and this morning up another six. stateside come equities near session lows, down 1.4%. yields dropping at the front-end of the curve on 2's as we anticipate jobless claims data in 10 minutes before payroll tomorrow morning. lisa: we are seeing the script being flipped on its head. suddenly growth looks stronger in the euro region, the potential for spending. the jobless claims and planned job cuts from challenger really shifted the conversation slightly. now, you see an increasing number of federal reserve rate cuts being priced into the market. jonathan: we're joined now for more. welcome to the program. it's a start with europe. where does the effort from germany leave the european central bank at christine lagarde in 20 minutes? >> good luck, christine lagarde, as you said. i think it is a tricky situation. one thing people were not expecting was such a big fiscal package. how it gets implemented

scarlet: christine lagarde of the ecb. in the u.s., fed chair jay powell is such a speech tomorrow at this time. for more on what that might mean for the u.s. bond market and the recent moves we have seen, let's bring in lisa hornby from schroder investment. great to speak with you. i just want to get your take on the german bond rout, whether that is really spilling over in any way even in terms of sentiment to the u.s.? >> i think the spillover has been surprisingly limited considering the fact that markets are fungible. people can choose to allocate capital in different regions of one region is seen yields rise as dramatically as we did yesterday, the other regions should be susceptible to that as well. i think in the context of broader bond markets, there the context of credit. we think about the demand that has come from european investors for u.s. dollar denominated corporate credit because yields here were so much higher,-year-olds were more attractive, that relationship becomes a little more tenuous now with bunds

london time with christine lagarde's news conference, do not miss that.na's leaders are due to speak to the media after setting a bullish target, a preview later in the program, stay with us. this is bloomberg. ♪ tom: welcome back, breaking lines from dhl, they beats modestly in terms of full-year earnings and outlook is softer, cutting 8000 positions to make germany great again not efforts are some way off for the government. pressure across job markets, we will keep across that. a u.s. ipo for clark, aiming to price in april targeting $15 million with banks led by goldman sachs, j.p. morgan and morgan stanley. we look at possible reprieve for trump's tariffs. that is coming up, this is bloomberg. ♪ tom: these are the stories that site your agenda. bonds selloff, soaring to their highest in a decade after bonds doubled on most since 1990. trump gives carmakers and exemption. leaders gather for a summit in brussels and central cuts rates. leaving economists divided in frankfurt. the dax is putting in the best gain since 2022. the outperformance versus the

later today as we break down the ecb's decision and hear from president christine lagarde.age begins at 1 p.m. london time on cnbc and the cnbc international. live youtube page. coming up on the program, president trump grants. >> a key. >> sector a carve out from his trade tariffs. we'll dig into the detail next. i got this $1,000 camera for only $41 on dealdash. dealdash.com, online auctions since 2009. this playstation 5 sold for only 50 cents. this ipad pro sold for less than $34. and this nintendo switch, sold for less than $20. i got this kitchenaid stand mixer for only $56. i got this bbq smoker for 26 bucks. and shipping is always free. go to dealdash.com right now and see how much you can save. everything from our kitchen to our bathroom. >> all our laundry. >> you just pick a. >> date, pick a cleaner. yeah, it is weird that we still call these things phones. well, yeah. they're more like mini computers. precisely, next slide. xfinity mobile customers are connected to wifi 90% of the time. that's why our network has powerboost with wifi speeds up to a gig where you

. >> listening to christine lagarde. >> speak at davos, and. >> she described herself as pessimistics the european. >> central banker describing. >> herself as pessimistic. >> i want to be long all the stocks when the central banker is. >> bearish because it tells you you have a very. >> accommodative central bank there, and you know that that was. against the backdrop of all the data starting to improve. if you. >> look at the economic surprise index in europe. >> it looks very different than. ours here. so i don't. >> think cyclicality is extinguished globally. it moved from. >> here and it moved east. >> we see it in china. >> we see. >> it in europe as well. >> chris thanks. good to see you chris. strategies coming up, some fast movers from today's session catching our attention. how are traders are handling the moves in brown-forman, crowdstrike and footlocker. that is next. and here's a sneak peek at the cramer cam. jim is chatting exclusively with the ceo of hasbro. catch the full interview. top of the hour on mad money. more fast money in mad money. more fast money in two. ♪