that's why citrix is so interesting.al was made in a very different environment than the one we are currently in. >> yeah, it was cut at the end of january when the fed still was keeping interest rates extremely low, the tail end of the zero interest rate policy. but it's coming to market now, and interest rates are extremely different. the average high yield bond is approaching 9% from something like 4%. so all the pricing, everything that the banks committed to back in january is going to be tested now, and it's not only a test of how much the banks potentially could lose, it's also a test of how receptive the financial markets are to the deals that are stacked up behind it deals like nielsen and tenaco about to be priced based on what happens with citrix. this is a truly important moment one of the rare moments we get in the financing markets. >> at the same time, bill, this has effects for leverage buyouts and you could argue you're not seeing as many of those in the current environment and there's so much dry powder

those things going on with citrix unit, which pushes the what is your sticky when up into the us now with a tech install, see if that cuz i still am with machine. if you still are he boys to a small studio with crystal bye? yes. with get away with so much that'll start with mulish navita with plato and monica, but most of them yeah. but hugely, what is minister a special walker, you know from a go careful. she in a bit of the rebuttal, you know, if there's any, just thank you for on the phone. barely written up with us will be a bottle gum on my gum 1000000 ability up a shop car generals, a blog post will be an issue when you get emilia spiel or fail, roll him up with a cool give us when you come up. i was just on the show yesterday. so much with my wish to get that over. can you make sure that let me up a solution, give me a call and you could feel free to call me on the glenda. somebody put up on my list and i should if you were boy, he was over there with mitchell. i left the way the order to show you the number i was supposed to pick it up with a couple of useable was, but i woul

you have the two minute citrix.re you seeing distressed buyers saying there is a point at which we are ready to bite, but the banks are just going to take it? olivia: we have seen some interesting things like elliott coming in and buying the debt parts private equity via for this deal with great speed, apollo is finding the equity checked with a loan. we are seeing interesting things happening in order to get these deals done. at what level it clears is going to change as a volatility in the market changes. guy: i hear there is a powder there. how much does distress these things have to get? thank you, olivia raimondo on what is happening with great speed. we are going to talk about oil not. talk about lowering oil outward and about pressure on the global economy uncovered. the j.p. morgan strategist is joining us next. this is bloomberg. ♪ >> we are one hour into the u.s. trading session. abigail: a brutal day. the rally yesterday turning to be a one-day reprieve. the s&p 500 down. the worst day in about two weeks.

those same login with citrix unit, which pushes the will. is your sticky when even up in tedious now with the cast awesome. cuz i still am a lawyer. what did you yeah, you don't like to have fun, especially if you're still on the boys to a small studio with crystal bye. yes. with get away with so much that'll start with your leash. maybe a little sort of if you don't. plato and what about but most of them yeah, but hugely what is minister especially vocally, you know, that's all stuff from ago. but i guess careful shipping to the i was rebuttal a disney jr. thank you for on the phone. barely reason. yup. i'm what if i come to school, he has a, a will a shop college i was supposed to be an issue with on shortly. i don't really know will spill will show you will or limit the cool because i still have with you i was really and up. i was just not sure. yes it was way. and you so much. it was the only way to my wish to get a little can you me? it was still not sure. let me help us to release was can vehicle new school seal suitable to put anybody

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those same login with citrix unit, which pushes the will. is your sticky when even up in tedious now with the cast. awesome. cuz i still get a better deal with this machine. if you still are he voiceplus with crystal bye? you said you know that what is this what you're supposed to be with? get away with so much that'll start with your leash. maybe a little bit. if you don't reach out of the class to load the media by hugely, what is most video, a special walker, you know, from a go to the rebundle. you know, if there's any, just thank you for on the phone now with my customers will be a bottle. come on, let me look up a shop car general's a blog post for the industry when you get an oil spill or sale, roll him up with a call. give us an estimate. you can follow up. i was just not sure yesterday, so much value. if not, wish to get that over, can you make sure that let me up a solution, give me a call and you could still get a hold of me and go to some ways for on that up on my little boy with go do it over there. with get out the way the orde

those same login with citrix unit, which pushes the will, is your sticky with tech has started that cuz i still am a lawyer. what did you yeah, you don't like to have fun, especially if you're still on the boys to a small studio with crystal bye. you know, so you know that what, there's just one that like you're supposed to be, wasn't able to get away with a lot of us to store with really little sort of if you don't reach that one, what about most of them. yeah. but hugely, what is minister, especially walker, you know, that's all stuff from ago. but i guess careful shipping to the i was rebuttal and not be disney jr. thank you for on the phone. barely reaching out to come to school . he has a, a bug, olivia, a will a shop called jones. a blog post will be an issue with on shortly. i don't really know. spielman will show you all the political because i still want to do is ask you the apollo william up. i was just in the show yesterday. we are so much it was the only way to my wish to get out of the oral can you meet us so not sure. let me just. i really just gimme a call. nice quick sea

those same login with citrix unit, which pushes the will. is your sticky with the cast awesome. cuz i still am with michigan. if you still are he boys to a small studio with a triple play? you said you know that what is this what you're supposed to be with, get away with so much that'll start with your leash, maybe a little bit if you don't reach out of the class to load the media by hugely, what is most video specify walker. you know, that's what you have cable she in a bit of the rebellion. it's your thank you for on the phone. barely written up with one of them a little bit, a bottle come on my gum 1000000 ability shop car generals aboard for the initial and shrinking spiel. shale all wrote him up with a cool cuz i still want to ask you a couple of 1000000 up. i was just not sure yesterday, so much the only way to get that over can you me and i should let me up a stylish was gimme a call and you could feel free to call me on the glenda. somebody's for on that up on my little boy, he was over there with the image. i love the way the order to show for you for the number of surv

oh, make sure those same login with citrix unit, which pushes the will. is your sticky when even up into the us now with tech install? so if that, cuz i still am a lawyer, what better do yeah, i feel fun. especially if you still are here boys for a small studio with crystal bye. you said you know that what is this what you're supposed to be with? get away with your leash and i need a little sort of if you don't want plato and what about the cost of old dominion, but hugely what is minister especially vocal you know, it's all stuff from a go, i guess. careful. shipping a gift. thank you for on the phone. barely reaching out to do please come to school . he has been left a bug, olivia a will a shop go gentle's report to be an issue with on shortly. i don't really know. full speed will show you or limit the call because i still was asking you that was really not. i was just not sure. oh yes it was william. yes. how much it was the only way to my wish to get out of the oral can you me it was. so i'm not sure. let me just i really was coming up with new school

those same login with citrix unit, which pushes the will. is your sticky with the cast? awesome. cuz i still am a lawyer. what did you yeah, you don't like to have fun, especially if you still are. he goes to a small studio with crystal bye. you said you know that what is what you're supposed to be with get away with. so a lot of us going to start with your leash, maybe a little sort of if you don't reach out of the class to load them. yeah. but hugely, what is most data especially vocal, you know, that's all stuff from ago. but i guess careful shipping to the above, you know, if there's any, just thank you for on the phone. barely there isn't. yup. with either one of us come to school. he has been left a shop called general support for being showing you video. but on short, i don't really know will spill will show you will or a hospital you could that was really not always. yes. and i'm not sure. yes, it was way of you so much. it was the only way to my wish to get a little can you me? it was so not sure. let me help us to release was can vehicle new school seal suitable to put

those same login with citrix unit, which pushes the sticky women up into the us now with the cast. awesome. cuz i still am a lawyer. what did you yeah, you don't wanna have fun. especially if you still are here boys to a small studio with just a little like you're supposed to be with get away with so much that'll start with your leash. maybe a little sort of if you don't. plato and what about the cost of older media, but hugely, what is most video specify walker, you know that's from ago. careful. she in a bit of the rebellion, it's your thank you from a barely written up with one of them a little bit, a bottle gum on my gum, the upper shopping journals, a blog post to be an issue when you can speak or sale or wrote him up with a call cuz i still want to ask you really enough. i was just not sure yesterday so much with my wish to get that over. can you make sure that let me up a stylish was can vehicle new school feel free to call me on the glenda? somebody's for on that up on my little boy. he was over there with mitchell. i left away the order to show for you for the supplies for

some of this is julia and you just polio, but this is julia by them all those things going on with citrix unit, which pushes the will. is your sticky when even up in tedious now with the cast also because i still hate him with mission if you so he boys to a small studio with crystal bye. you know, said you know that what is this what you're supposed to be with? get away with so much that will start with your leash and i need a little sort of if you don't want plato and what about the class to load the media by hugely, what is most video specify walker, you know from a go careful. she in a bit of the rebellion. it's your thank you from the early days now, but i'm waiting for someone who has a bottle gum on my gum 1000000 shops journals for the initial and shrinking spiel. shale all wrote him up with a cool cuz i asked him if you can pull it up. i was just not sure yesterday so much with my wish to get that over. can you make sure that let me up a release was gimme a call and you could feel free to call me on the glenda. somebody's put on, put up on my little boy with go do it over there wi

those same login with citrix unit, which pushes the will. is you sticky with him and up into the us now with the status of a tech install. see if that cuz i still hey jim, i got a question . if you're still on the boys to a slow studio with crystal bye, you said you know what, is this what you're supposed to be with? get away with your leash and i need a little sort of if you don't please. what about the cost of i would, i mean, yeah, but hugely, what is minister, especially walker, you know, that's all stuff from ago, but i guess careful shipping to the, well, i was rebuttal and not be there is a church. thank you for i'm the only reason i'm. what if i come to school is devali a my gum really bug, olivia a will a shop college. i was supposed to be an issue when you but i'm sure you don't really know. full speed will show you all or the political because i still was asking you that was really not always. yes. and i'm not sure. yes, it was way. and you so much it was the only way to my wish to get a little can you me course so not sure. let m

i did it thought it looks a little bit, but whiskey you will look do you see citrix? was that the with with my submissive see this with them but it might that are so yeah. or question. yeah. so thought it was not, it would have to go post that the government was just like when you must with ah or, well, don't my double alex, she's going to be on the left in columbia. nobody but i just by the level that he thought young real name is logical. who's a large group of college cool with which yeah. is it public your fear to be a number? think enough. feel okay. it does make it look like to put him on the bush in a below that season. now, she did the with a with that got on bus. it was on bus very find deal this wouldn't have happened there, from vedo vida didn't push this agenda. this war was that because i'm yeah, boston on that i should be to what about a, a good be a few more lovely with his is what is okay. are you still in that band with, with mm ah, quite a mere potent is about to hold talks with chinese president shing paying in the central asian republic of those pa

democracy in dex has a majority of of countries in its top index over the last 3040 years have been come citrix still monarchies. republics. a more unstable, more and dangerous compact. the republic of syria with jordan. compare the republic about jerry with the kingdom of morocco and all of the criticism of monarchy, all factually incorrect. in the sense that all the academic research shows that the countries at the moment key tends to be more democratic, more began to read less printer extremism. higher degrees of social capital and social trust and essentially police out the, the extreme is in the side and help foster consensus because they create a national po. okay. what type of politics? again, holding back to me. marcella johnson. i listed to yeah. the go, sorry. are you living in an alternate universe? it would world a well my little one wall is the monarchy on the 80, the, that the simple or tool to secure democracy or prevent extremism. you and i live in the united kingdom. far and extremism is thriving in this country. in fact, the money is very unfairly edison will remo to take up a

management bought about $1 billion of a jump on deal supporting its own buyout of a software company citrix coming up next, our guess tells us why a hope of apace it -- pivot is silly and why we should not fight the fed. this is bloomberg. ♪ >> my colleagues and i are extremely committed to bringing inflation back down to the 2% goal. we raised the target range to 3.75% and there will likely be softening of labor market conditions. we should move our policy rate to a level that is restrictive enough to bring inflation down to 2%. we have just moved into what i believe is the very lowest level of what might be restrictive. >> it's time for morning calls. we're going to take a look at what strategists are saying about a recession. what calls are you following right now? >> there's a big one that has come out. they're looking at the odds of a contraction on the back of the fed rate hikes. they say a recession is all but unavoidable. this is coming from the head of fixed income. this is a man named earl davidson. he says rates will need to stay much higher for longer. he said they could warn to

we are hearing that wall street banks are set to lose about $600 million on citrix debt.e trying to offload front and sing -- financing commitments on tuesday and this has been the combination of months of work when it comes to trying to mitigate the damage from underwriting pledges. we are now hearing that a group of underwriters led by bank of america, credit suisse, and goldman sachs, ultimately have found enough to sell the total debt package. thanks still hold about 6.5 billion dollars of that $15 billion financing and that they are set to lose about $600 million on that debt. be sure to tune into bloomberg radio to hear more from the days big newsmakers come i get -- newsmakers and get in-depth analysis from the daybreak team. plenty more ahead. stay with us. ♪ >> a quick check of the latest business flash headlines. the u.s. federal communications commission added chinese telecom firms to its national security rights list. the move was made under a 20 not to protect u.s. communications networks. the regulator earlier revoked their operations, citing national securi

this week we have been transfixed by the citrix that story, and concessions banks have had to take. there is talk of dealmaking slowing, what is the back half of the year look like for global investment banking? patrick: what we've seen last year is generally banks hiring, investment banking looking good and wealth management looking good. assets were on the rise and global orchids looked nice and pg for them. this year, a bit of a retreat. what we might see is bonuses lower, goldman was the first example early this week looking to cut jobs. the outlook looks gloomier, that affects credit suisse which has had its own specific issues. the fact that the outlook for investment banks generally is looking less rosy won't help them as they continue this restructuring. dani: thank you very much, patrick winters our banking editor. an ecb governing councilmember is speaking to latvian tv, saying faster rate hikes have weakened the euro and they will continue raising interest rates. on other central banker on the impact of faster u.s. policy and strong dollar, snb talked about this yesterday

we had the citrix one that banks struggle to offload.zhar: right now, we have spreads and yields in the high-yield market moving by 100 basis points very quickly. in these periods, you don't expect these debt packages to get to the market. actually corporate markets aren't in that bad shape, that is because of covid. dani: spreads haven't widened that much considering what equities and public bonds have done? azhar: there is now a bit of a disconnect between investment rate markets and high-yield markets recently. dani: is that just a factor of duration versus credit risk? azhar: that is an important part, the other part is dislocation. what you saw in the u.k., pension funds having to raise liquid assets, but those are not investment grade. funding is emerging in u.k. markets, the question is where does the story end? i don't think we are at the end yet, but there is value there now. dani: definitely an interesting time to be a global head of credit. that's azhar hussain, royal london asset management global head of credit. deals for ho

for example, the citrix bond sales being brought to market.f banks being led by credit suisse has to sweeten the term. what have we seen and how big of a trend is it? catherine: obviously, it's harder and harder to get bond deals over the table. so, you have to, you know, sweeten the bitter pill as much as you can and entice buyers. bankers are pulling all of their tricks out of a hat. dani: ok, what does that mean in corporations actually being able to get loans to actually get the money they need? catherine: a lot of corporations obviously keep rates superlow for a very long time. many companies have loaded up on cash and don't have immediate financing needs. that does mean that those who have the market are in particular need of money in some cases. so, you know, obviously, the bond market is not the only place to get money. so, there are other ways. other financing options. for example, many companies in asia have been going for loans to tide them over in the hopes that maybe next year, there will be a reduction in interest rates and there

street banks have kicked off the second part of a $15 billion debt package for the buyout of its citrixtems. a group of lenders ed buck credit suisse will hold the call on tuesday for a $4 billion secured offering. it is widely seen as a bellwether for markets. shery: kiwi stocks are losing ground, this is we continue to watch the kiwi dollar unchanged. we are looking forward to that second-quarter gdp numbers out of new zealand. the japanese yen holding within a range, we did not see the boost we got, warning against given weakness being supported so we continue to watch the low against the u.s. dollars. sydney futures pointing higher .6%. still ahead, why asean has headwinds still persisting. there is more on that pst. girl. you can do better. 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! now you really can do better! switch to the fas

poised to realize roughly $600 million of losses after offloading financial commitments for buyout of citrixors. the estimate is based on bloomberg calculations and market participants familiar with the deal, and could ultimately be conservative. the swedish central bank meanwhile, delivered a surprise 100-basis point hike. it lifted its policy rate and defied the projections of most economists a smaller move. it is the bank's most aggressive tightening in more than three decades. the swedish krona erased its initial gains after the jumbo rate hike. 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. i am su keenan. this is bloomberg. shery: traders are bracing also for a hawkish federal reserve, as we are seeing the treasury selloff easing a bit in the asian session. we had seen the 2-year yield very close to 4%. let's bring in mliv strategist mark cranfield joining us with more. the most aggressive tightening campaign in 30 years. the bar has been set pretty high. mark: it is not often that the swedi

citrix having to take a little bit of a hit, and the banks taking a little bit of a hit, that's nothingf that's the kind of thing you see. >> i've seen a few notes in the last 12 to 24 hours suggesting that when you start to see these volatile moves in currencies, for example, that can sometimes indicate the second leg of a bear market, which depose back to the debate, at least where equities are concerned, as we're retesting june lows, whether it is a double bottom or whether we're going to see a bounce because equities are oversold, arguably, right now from a technical standpoint as well and then maybe move even lower dow transports, we touched on it briefly before, a fresh 2022 low. you can argue that the transports right now, and fedex was the canary in the coal mine, but it's doubled the losses just this month of the dow and the s&p that this is really flashing warning signs where the economy is concerned, where the possibility of a bigger recession is concerned and you do have some of those walks that follow dow theory very closely, pointing to the dow, testing, reaching a new low

right now, you know, the citrix deal is getting done around 10%, not pretty so that's a difficult areafor some parts of private equity but there may be opportunities, says mr. gray. >> enterprise software, longer term, has been the single best investment >> yes >> and yet they're, right now, the worst investment, so i think that jonathan gray is right again. you can take a look at the enterprise software and know that some of these companies are going to do very, very well, david. and i think that when you look at the longer term, but the longer term has become something that i really want to encourage on our show, but i respect the fact that that's a sea of red. >> it's hard to build a position when you think you're going to get another chance tomorrow, down another percent it's difficult to actually put on risk, so to speak, and certainly those who are paid to do it for a living don't want to do it right now, it doesn't appear >> carl, i spend a huge amount of time with marc benioff last week at salesforce, pretty joyous time, understand the dollar makes things very difficult, made t