millennials just don't care about inflation, dani burger. dani: that means we are not vexed, we don't fit on the high end of the charge. when it comes to equities, whether you are a boomer or not, i thought you put it well before the show, it's about the math. equities don't care about the boomer, they're looking at a 10 year yield at 1.3%, and sanguine about inflation. and earnings season expected to be the best in postwar history. this from jim polson who says typically when this happens, equities return twice as much as any other time. manus: yep. rates at 1.3% is one of the definitions people will mention. we will get the earnings from the banks, that will be about reserves coming back and the dividends. lumber prices olango over, there were 17 -- prices rolling over, they were $1700 at the start of the year and now 700. reaffirming in some way you are looking at transient movements in inflation. the bond market with a lot of angst, hanging out at 1.3%. dani: on the border, kind of a holding pattern ahead of the cpi data. if we get the st

i am dani burger in london.o space and jeff bezos is only a few hours away from blasting into space on blue origin first manned rocket. ed ludlow has the story from the launch site from van, texas. ed: if all goes to plan, it will propel jeff bezos, mark bezos, and others up towards 62 miles above earth as they approach the cap soul to 66 miles above earth. it is not far enough to escape earth's gravitational pull so the capsule after a few minutes of weightlessness will start falling back down to earth using its own air resistance to slow itself down. there will be drive shoots fired and as it nears the earth, three large parachutes will deployed with a sudden burst of air just before the capsule hits the ground. as of monday evening, they completed their brief two day training. for blue origin, it is a substantial step forward in what has been slow progress. he acquired the land here in west texas for the blue origin site in 2005. it was not built until 2014. in that time what happened is spacex has leaped fro

i'm dani burger in london.d 10,000 new types of crypto coins have been minted this year alone. that's as countless people pollen into tokens with the hopes of making it big. what is also big is the sheer number of scams taking place, with boom went of dollars being taken annually. most of the scams are so small in size that the authorities don't even bat an eye. allowing swindlers to simply disappear. for more on the wild west of crypto rejoin by no one else but joanna. what are the sorts of things that are happening in these many scams? >> is pretty amazing how much is going on. you have people who get in and get out when the prices go up and leave everyone else to deal with what is probably lower price. you have honeypots for people will put something in the code that limits trading for a certain amount of time so the person who created the coin is able to take advantage of the high price. all sorts of things that are happening here and it is fairly easy to create a coin and easy to hype it online and on soci

i am dani burger. your top stories today -- england scraps social distancing rules despite soaring virus cases. johnson forced into a u-turn after being exposed to covid-19. pandemic concerns drive the market, global stocks decline and treasury yields drop for a fourth consecutive day. opec agrees to inject more crude into the economy, overcoming a split between saudi arabia and uae. good morning. we are starting this week with a general broad risk aversion. bond buying is in and equity markets are out so far this morning. you have the 10 year and 30 february. it is -- since february. the earnings season the best in history. there are things clouding the earnings. you have opec-plus reaching a deal, sending oil lower. brent crude below $73 per barrel. you also have virus complications clouding the picture amid a divergence among the central banks. a slightly stronger dollar this morning. here is your equity picture. broadly risk off across the board. most indexes if not all lower this morning. the msci

i'm dani burger. alongside me is manus cranny. bloomberg daybreak: europe and here are today's top stories. opec-plus he to reserve their different blocking a deal -- opec-plus failed to reserve their differences. england rails out -- boris johnson says we need to learn to live with coronavirus. the rba keeps its key rate and three year yield target unchanged. a rate hike is unlikely until 2024 at the earliest. $77 a barrel on brent capturing the attention of markets. martin malone from alpha books said there is concern around the economic competition between saudi arabia and the uae. manus: malone encapsulates it. this is a deeper level of thanks between saudi arabia -- angst between saudi arabia and the united arab emirates. what binds us together keeps us further apart. it is an obama quote. they are traveling different directions. it does not look like the tail risk of the uae leaving opec is moving anywhere to the center. there is time to get a date in the diary to reconvene. the white house is hoping for that. dani: they cer

i am dani burger in london.er a bumper 2020 that sent its membership soaring, netflix says there is still plenty of room for growth and that is despite adding second-quarter earnings that saw its lowest start to a year -- slowest start to a year in a decade. we are joined by bloomberg takes alex webb. -- quicktake's alex webb. shares slumped after their earnings. they go on to recover but what do you think it was in the result that has begot punch negative reaction -- that got punch negative react -- gutpunch negative reaction? alex: they saw a decline in subscribers, the first time in two years. clearly a reflection after a bumper 2020. lockdown started to ease and people are spending less time at home and have less need for netflix than they did 12 months ago so that is the kind of driving factor here. >> what is going to be the saving grace in these earnings. alex: if you look at the pandemic, two effects. firstly, it has obviously had an effect on demand. it had a sapping effect this year. it also had a prod

manus cranny and dani burger alongside me. stay vigilant. jay powell says the fed is ready to take action if prices get too hot. blackrock's larry fink and david branson joining chorus warning on inflation. economic growth slows in line with forecast as consumer sending picks up. the u.s. sticks with the trump arrow halt of economic dialogue with beijing. plus, morgan stanley is next on the docket for big bank earnings. how will it stack up against wall street rivals? warm welcome, 6:00 a.m. in london, just 9:00 a.m. here. substantial progress, three words i would say the bond market, the fx market were underprepared for. jay powell leans into the slack narrative. there is slack in the system and there is a ways to go before we are ready to do anything with policy. dani: good morning. that was a green light. for the first time this year, the nasdaq 100 is outperforming the small-cap index. small-cap index falls for a second consecutive day. it's worse -- its worst two-day performance since may. manus: there is one ceo who is all about wages.

dani burger is in london hq. can buy now and pay later, a new service that will let users pay for any apple pay purchase in installments over time. the tech giant has asked suppliers for a 20% increase in its output of new iphones this year. that is a bloomberg scoop. updates will include camera and display improvements. they will help me with my desk work. big forecast uplift for iphone. i will have to upgrade. >> what is happening is apple is asking suppliers to prepare for as many as 19 million new iphones this year. compared to last year and a year ago, apple has asked suppliers to prepare for 75 million headsets for product launch through the end of the year. it looks like they were confident of customers returning , and seeing their life returned to normal. dani: i am one of those people who waits a long time before buying new phones. it was not until a month ago i do not have a phone that i needed to put my fingerprint on to get into the phone. what new functionality will they have in this new iphone model

i'm dani burger. here are today's top stories.raders watch for clues on when the fed might start tapering. stocks struggle for direction after a record in the u.s.. the dollar holding onto yesterday's gains. a historic deal. under 30 countries and territories sign up to a plan on corporate taxation. hurdles remain. next week's g20 meeting in focus. opec-plus talks break down. they block a preliminary deal forged by saudi arabia and russia. good morning everyone. happy friday. happy jobs day. jobs squarely in the focus of every single trader as we wonder what the fed is going to do from here. when it comes to the equity market, it's a melt up. six consecutive records for the american benchmark. focus is also on the bond market today. hans seymour cautious, concerned about another disappointing figure for the third consecutive months. we are seeing flattening of the yield curve with people buying the long and ahead of the jobs report. it shows that these hunters on the long and are expecting us to miss when it comes. forecasts aroun

i'm yousef gamal el-din with dani burger in london.s is bloomberg daybreak: europe, and here are today's top stories. s&p 500 finishes and one of its best halves in over 20 years. virus concerns sap sentiments just a little bit. the fed reiterates tapering should start sooner rather than later. opec-plus heads into a crucial meeting with russia and saudi arabia. they are split on supply hikes. the market is expecting an extra half a million barrels a day from august. and president xi jinping thinks that he uses the 100 anniversary of china's commonest party to warn the world to not stand in the way of beijing's historic mission, gaining control of taiwan. for me, this is the last working day of the week. in terms of the market, there is still a lot of room left until late friday and a lot of data to get through. but we are looking to build out some of the record runs we have had in stocks in the first six months. even though volatility has bond to the lowest levels in about 16 months. dani: i do think one of the things that's striving

dani burger is in london. guy johnson is off today, but he is back on monday. ni, it has been a real pleasure. dani: a selloff taking a bite out of near record gains. alix: it has been quite a month overall. the s&p is still looking at a monthly gain, but nonetheless, it is still rough going. today, off by 0.2%. the outperformer is those large cap tech names. a little bit of bid in the bond market. a little bit of a bid for the dollar as well. the bloomberg commodity spot index, overall you are looking at the dollar having its worst week since may. ipso facto, good for spot commodities. the spot commodity index the highest since 2011. that is more of an idiosyncratic story. dani: we are also getting some breaking numbers on the university of michigan sentiment survey. the interesting thing here is always to see what inflation expectations are. consumer sentiment coming in stronger-than-expected. their five-year inflation forecast is again of 2.4%, and 12 month inflation forecasts, 4.7%. definitely some tinges of higher inflation. earlier today, we saw u.s. perso

dani burger -- in new york. dani burger is in london. guy johnson is off again today. this is "bloomberg markets." dani: here in europe, you have unilever warning that earnings might look good, but cost pressures might crimp profits. alix: you can see that reflected in the s&p as well. take a look at the board here. the s&p is off area of the dow getting it the hardest. what you want to pay attention to is the 10 year real yield. do earnings even matter if the tenure real yield continues to grind lower? it is going to be hard to not want to invest in some of the growth companies. bitcoin also getting a little boost. goldman sachs asset management thinking about putting together some kind of fund there, so that is hoping that i set class. maybe a little risk on in the bitcoin world. the story to me, it is going to be equities. dani: it feels like deja vu. we certainly are getting u.s. data in u.s. july consumer confidence index coming in at 1.29.1 -- at 129.1, so that is higher than the last rating. let's get more with bloomberg's international policy and economics corr

i'm alix steel in new york, with dani burger in london, who's in for guy johnson. rnings just trickling in. dani: taking a nice bite out of this record highs today. we are only down maybe 0.5% on the stoxx 600, but still, it is notable we are not able to hang onto these highs. maybe we'll get some oddities of rebalancing, but still, as earnings rolled in, you can't sustain that higher benchmark. one of the biggest laggards is the dax, down 0.5%. we got a lot of gdp numbers. we are going to talk soon about that. but germany seemed to be the big disappoint her, but generally a not very optimistic way to end the week in these markets. -- alix: -- kind of really shifted the perspective of investors to the market. clearly going to drag on the nasdaq 100. we also have the golden dragon china index, chinese equities listed in the u.s., actually up by 0.5% despite continued downs in china and a potential no more chinese listings in the u.s. the sec looking into that as well. the 10 year yield also right around the lows of the session. i know this is no surprise. you are get

i am dani burger in london.asia, where stocks have tumbled amid concerns over covid variants, and of course china's corporate crackdown. let's get more with juliette saly in singapore. some of the asian indexes it looked like are on the verge of correction. how ugly is it getting out there? juliette: yes, we have seen a bit of a reversal coming through in the hang seng china enterprises index, which briefly entered bear market territory in early trade after we've been seeing this big sell down coming through on china tech stocks. it has been down some 20% off its peak, but now seeing that index trying to reverse losses. there is this concern about covid variants and the impact of the overall global recovery wing into asian equities, which continue to underperform what you are seeing in the u.s. and europe. the msci asia pacific index on track for an eighth loss in nine sessions. we are seeing the nikkei amid correction territory, so off some of the lows of the day. we are seeing more concerns about not only a cr

dani burger is in london for guy johnson. welcome to "bloomberg markets." we spared back some of the earlier losses -- we've paired back some of the earlier losses, but it is still a lower market. dani: i love how andy brenner at natwest put it. it is an ugly day for equities, but it is the least dirty shirt within the laundry. alix: we are pretty much flat now for the major indices within the s&p. you are seeing the dollar also coming in mixed. in the bond market, the highlight was the 10 year yield, the real yield hitting its lowest ever level. now seeing the 10 year yield at 1.27%. ullman sax lowering its forecast for the next year and the couple of quarters coming out -- goldman sachs lowering its forecast for the next year and the couple of quarters coming out. dani: definitely each new piece of data we get increasingly important, and u.s. new-home sales data just crossing the bloomberg. let's get the data from michael mckee. michael: i'm afraid it shows us more confusion because on friday we had existing home sales that went up. everybody was talking a

dani burger is with me. guy johnson is still off.ll of this as we wait for robinhood's ipo. -- let's get into some of these markets. in europe, definitely a more positive day than what we have had. we had the fed trying to smooth things over, certainly allowing us to get a head start on these earnings in a more positive market. you are looking at a stoxx 600 benchmark index, up nearly 0.5%, but really leading the way is the basic resources, up almost -- more than 2.5%. we had some banner earnings, we had these commodity companies really coming out of the gate strong this earnings season. alix: definitely great comps for them as well. he returned to dividends is really helping them as well. in the u.s., moving higher within the s&p and tech really outperforming. the cyclical trade continuing. i do want to highlight the golden dragon in china index. that is the chinese listed stocks on the u.s.. it is just down by 0.7 percent. you did have china pumped more liquidity into the markets. seems like they had enough of the selloff over the

dani burger is in london. guy johnson's vacation come down is continuing. vestment banks trying to stabilize his having a ripple effect throughout the globe. dani: part of the reason was the question of whether or not the national team, as many call it, would step in. with this meeting with bank executives, it looks like they will. whether or not they have been buying into this market, that remains unknown. but supportive sentiment nonetheless. alix: retail traders most definitely have been buying. take a look at the board here. it might not show the kind of churn we have seen. almost $1.7 billion into the market on tuesday despite the fact that the nasdaq 100 had its worst day since mid-may. tech lagging behind again today. now you have the s&p pretty much flat. a teeny bit of selling into the bond market at the lower end of the range we have seen. it is a ruggedly mixed eller story in the g10 space. euro-dollar, $1.17. will there be significant upside after the fed? maybe expect in a little bit more movement there. coin is under $40,000, but it looks like

dani burger in london. guy johnson is still off. welcome to "bloomberg markets." ina comes the market after the fed didn't rock the market. dani: i think that is a perfect metaphor for out here on the sea, waters calm. nothing to really disturb things, so we can concentrate on earnings. alix: take a look at my board here. i bought stuff in the second quarter, even though i might not have bought as much as you thought. i still bought a lot of stuff, and that is kind of the take away for the second go to read of gdp. equities in the green, up 0.4% for the s&p. modest selling in the treasury market. plus, and enormous apple high-grade issuance that was steeping the curve is to little bit. the dollar also weaker, starting to roll over after jay powell's presser yesterday, on the longest losing streak since mid-march. record low real yields earlier in the morning, higher gold prices very much the situation here. but not a lot of drama, which i'm sure jay powell is quite happy about. we do have some economic data. pending home sales for the month of june, month on month

i am dani burger alongside manus cranny in dubai. are today's top stories. >> there will be a forward guidance review, because we have to align with the strategy review we just completed. dani: christine lagarde tells investors to prepare for new guidance on monetary stimulus next week. more from our exclusive conversation with the ecb president this hour. progress on taxation. ministers from the g20 endorse a global corporate tax deal. janet yellen optimistic u.s. lawmakers can approve the 15% minimum rate this year. and mixed messaging. the u.k. repairs to lift covid restrictions, including its mask mandate, but the vaccine minister says face coverings will still be expected indoors. good morning and happy monday, manus. i know for a lot of investors and probably everyone in england, it is a tired and sad morning. amongst the tears, they have to figure out what will happen with all of these various central-bank decisions as we start to concern ourselves with have we reached peak global growth? what we hear from policymakers so far

i am dani burger alongside manus cranny in dubai. crisis at opec-plus.rabia stands firm amid the uae opposition to a production deal. talks continue today and we hear from the energy ministers of both countries. china's tech crackdown. beijing blocks didi from app stores after u.s. ipo, citing security concerns. it is widening the probe to other firms. and ending steam. positive jobs data pushes the s&p 500 to its seventh record in as many days. u.s. stock and bond markets closed for the independence day holiday. happy monday and happy independence day if you ever celebrate, i am assuming probably not. for me, despite it being independence day, all eyes are on opec, that is the independence we have to look at, with the uae holding up conversations. we had a really important conversation with the energy finance minister. manus: they chose bloomberg as the court of public communication, because there is not much going on between saudi arabia and abu dhabi, and therein lies the point. the uae against the rest of opec. if you want an extension of the deal, y

dani burger explains.ve a new mantra for how they might pay for it all. >> for too long, there has been a global race to the bottom and corporate taxes. >> the u.s. proposal for a minimum rate for 15% is an interesting and solid basis. >> last month, g7 countries agreed to a global minimum corporate tax of 15%, what they called a landmark agreement. last week, the oecd managed to get 130 countries and jurisdictions on board. the current goal for implementation could be as soon as 2023. the oecd's current plan would bring in an extra $150 billion a year. >> what would harm innovation is the absence of trade wars. taxation would harm innovation. be such a historic crackdown. the 15% level would be higher than ireland's 12.5, but lower than all g7 and most other e.u. nations. ireland and hungary have not yet joined the plan. ireland is likely to remain the go to in europe including google,ñ,ñ,ñ, for ambitious enough. >> 15%, still a big drop ahead of us. dropping to the minimum instead of dropping to the bott

dani burger and for guy johnson -- dani burger in for guy johnson.ani: i've been saying this all day, that it is able market that refuses to quit, but today is a really big test. we might be heading a little lower in the u.s., but in europe we are definitely heading even lower. we are down by 0.2%, so not a huge move yet but as you say, this comes off the back of record highs, a lot of optimism that earnings season would be good, but perhaps it is not priced into your cable rate which is up 0.5%. it is a fifth consecutive day of declines as of yesterday in the u.k. virus case counts, but that doesn't yet reflect the reopening and normalization of a lot of the u.k., so maybe it reflects us coming down from when the euro spread virus case accounts -- you're a football spread virus case counts around. -- euro football spread virus case counts around. alix: in the u.s. you are pretty much trading flat. you have a minor bid into some of the cyclicals within the s&p, so not really going much anywhere. the nasdaq golden dragon china index, that basically li

dani burger joining us from -- we see some important geopolitical issues are moving prices. y do. opec really the big one here. it has been so fascinating to watch this debate happen on bloomberg tv between opec finance ministers. energy minister's, rather. it is also making a difference in europe because the stoxx 600 is up zero point 1%. it really is u.k. energy, basic resources helping lift us further. you can see the u.k. outperforming, up 0.3%. we also have a deal, a possible deal of a private equity company bidding at the moment for morrison. socgen says maybe others will want to bid for that u.k. grocery store. let's roll it over and see what our next board is. we have our asian data. one of the remarkable things is looking at what happened in china. we get china cracking down on didi, the ride-hailing app. china cracking down on data collection. still, chinese equities into the day higher. we also had tech ending higher. in europe, a pretty negative session. the hang seng down. in japan, equities doing a similar thing as well. some softness in the dollar versus the ye

dani burger is in for guy johnson. here in the u.s., it is full on earnings. over there, a very similar issue. dani: absolutely. i should say that the hopefulness of traveling is giving us more of a lift here in this equity market, but it is all about earnings. we are seeing the stoxx 600 moving higher, just around 0.6%. the best performing sector is actually technology today. tech earnings happening in the u.s., maybe some optimism for what they will look like here in europe. . i would also put your attention to the euro-dollar. it is weaker today, really having a hard time staying above that $1.18 mark. the risks are asymmetric to higher rates, which put pressure on the euro, as well as an options expiry. it definitely seems like the bias is to the downside. it is all about king dollar today. alix: but also what the fed is going to do about that, and if the u.s. exceptionalism we have been feeling will wind up hurting us in the long run. we will see what the dollar ones of doing into the fed. we are definitely waiting for the fed. china also came in to try to

. >> that was dani burger, a brief look across these markets, risk aversion is certainly the name ofthings here, hong kong and malaysia were hammered after seeing some stability. the rest of asia plus you're getting a little bit more across the bond space here and a lot of breaking news. we had one or two across five been it. >> they kind of coincide a limit. take a look at that. this is bloomberg. ♪ >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. ■ç■>> tech star power, jeff bezs came out of the shadows in sun valley and we will have the lehto's -- the latest. and the new trend on tiktok is big business and i will talk to one of the biggest influencers. she is known as robinhood kid

dani burger here with manus cranny alongside me in dubai. here's what you need to know.il. the u.s. sites private -- positive signals. brent slides the most since april while treasuries hold on yesterday's gains. dede plunges below its ipo prices and the u.s., out $15 billion of market value. asian stocks take a leg lower. plus a win for amazon. the pentagon scraps a cloud computing microsoft. it plans to split the contract between the firms. the market is screaming its concerns. it is there between the fire in the bond market and oil of course having a dramatic plunge as well. manus: i like what you said to me about the short squeeze. the jp morgan survey as short as they were in 2018. coming to the end of qe, going into taper bill -- taperville. you sold the bonds, by the yields, sell the facts. 1.4% did not make sense given the growth trajectory, did it? dani: not just 1.4% but also below 2% on the 30 year yield. it is not a market that is preparing for inflation anymore. it seems like it is preparing for maybe even a policy mistake. growth at the long end there. i wa

shery: that was dani burger.n all of the issues that remain, what are we expecting from the g20 this week? >> we have seen the oecd has gotten 130 countries and jurisdictions support a global minimum corporate tax rate plan. there are still some significant hurdles that need to be overcome as they all meet this week. congress is one of the big hurdles so a lot of europeans tell janet yellen how they would navigate that problem with congress, dealing with some of the larger multinational firms like facebook and google, how to implement the overhauls in 2023. haidi: the implementation is key. how difficult is the ratification going to be for this? >> it's going to take some time. they are planning to spend the next couple of days to start working on the technical points of the deal and the g20 leaders a summit in october, when president biden meets with counterparts. that is when they hope to sign a pact to fully begin implementation after that. haidi: let's get you a quick check of the latest business flash headli

i'm dani burger in london. look at the pandemic where uncertainty from the delta variant will have reverberations throughout the foreign exchange markets with data on cases and deaths set to determine risk appetite. that's the view from derek halpenny. he is with us this morning. i found it interesting that you talked about the delta variant in the u.k.. we will talk about u.k. assets specifically later. your view that you are watching how the variant plays in the u.k. to determine what risk appetite looks like. what exactly are you watching to give you guidance on allocation? derek: well, i guess in terms of the delta variant wave in the major developed economies in terms of most of europe, the united states, the u.k. is ahead. that's the first point. the second point is that there has been a clear shift in strategy from the u.k. government. ultimately, the strategy is herd immunity. therefore, success in achieving herd immunity would certainly remove some of the uncertainty that we have that's been coming int

in the city of london, i'm dani burger and this is day break europe and here are today's top stories.ks in asia follow wall street lower after the s&p 500 worse route than may. treasuries hold yesterday's rally, oil looks for respite. do not travel,

the ceo spoke to bloomberg's dani burger and alix steel. >> we are going into production this year and track this year production schedule and next years and the $4.4 billion means that we can accelerate our growth as a company and mitigate execution risk. >> production can start this year. i'm sure a lot of shareholders are looking forward to that. you did have to make an appeal to get this transaction done, the spac done. a lot of the shareholders are retail investors. what does it mean to you to have such a large retail base? >> isn't it wonderful that the reach of our mission has reached so many people in the retail sector but we have an illustrious roster of traditional institutional investors as well so we have this dimension, this diversity which is attracted to our technology and mission and i get a great situation. >> -- i think it is a great situation. >> it feels like it will set you up for a lot of execution risk. you have to meet your target. with valuations as big as you have and the retail base as big as you have, you have to meet the targets in order to deliver. what ar

i'm dani burger. this is daybreak europe. not tightening early.hat it will maintain support. social giants twitter and snap jumped after beating on revenue. intel suffers as its chip woes drag on. a unique olympics holds its opening ceremony. we are live in tokyo for the first ever games to be held without spectators. happy friday. a weaker start to this morning in the asia session after u.s. equities neared all-time highs. japan is closed because it's the first day of the olympics. the msci asia pacific index without japan. heading slightly lower this morning. some of those economic fears acute in asia and china, dragging the index lower. the hong kong tech index down by more than 2%. european futures up higher by about 3/10 of 1%. the euro-dollar very fractionally down versus the dollar. earnings season rolls on. lightning company signify beating estimates this morning. the company said it's all an acceleration in the pace of recovery in comparison to the first three months of the year. but that lockdown and supply constraints will continue to i

i'm dani burger and this is "daybreak: europe." these are the top stories.iterates the fed is monitoring risks, describing the surge as unique. one less hurdle, bloomberg sources say hong kong ipo's are exempt from security reviews. plus, an investment banking boom builds profit at morgan stanley. focus turns to bank ramping up next week every good morning. happy friday. a lot to digest. the earnings picture is predicted to be the strongest in this postwar history, or our concerns emanating from the central bank and jay powell, who said to congress yesterday that inflation is surprising to the upside much more so, yet he still watching. he's still waiting. that led to a sloppy session yesterday that turned around slightly today. we are seeing a yield curve that's steepest since 2013. i flagged this because it is similar, or at least highlighting a very similar risk to something a larry and said, mohamed el-erian, bloomberg opinion columnist said. is fear is the facts on the ground calls for the world's most powerful central bank to start easing put off to st

anna: dani burger with a look at the hurdles to a global minimum corporate tax ahead'g

i am dani burger in london. here's what's coming up on today's program. beats and buybacks.quities as natwest annou

dani burger said it was about pubs and beer. i would love to hear the answer is more sophisticated. and beer involved, but usually we look at the stocks as the main beneficiary and the interest in the games. when it stays really high, it's a limited -- when england is eliminated, it stays high. and this time around, we've had the social restrictions so pubs haven't been able to get their news out, so instead we've seen a shift towards grocery stocks and people stocking up on booze and snacks. and deliveroo sponsors the england team. then there's the stock makers which i find interesting. you can see in the data that during june and july of tournament years, the new client numbers increase around 100%. they doubled versus non-tournament years. it's a big way for bookmakers to attract new clients and also clients that haven't gambled for a while, reopened their accounts. obviously, there are social implications whether or not that's a good thing. anna: certainly plenty of appetite during the games. any reference to supermarkets to well, something that's been mentioned. a lot of people

joining us with the latest is dani burger. re the details on the banks lifting dividend restrictions? it is having an impact in hong kong on the hsbc listing already. dani: obviously this is taken as a positive by shareholders because they want that payout act. there were concerns going into the financial stability report given the noise out of the ecb. they say we want banks to be cautious, and we have the tools to curb excessive dividends. the boe removing the guard rails is clear in this report of the u.k. financial system is resilient, that they have ample liquidity, ample support to give to households and businesses as the economy recovers. they think banks can continue to help, therefore they can continue their dividends. mark: the boe thinks the economy needs support from financial systems. is that correct? dani: exactly. compared to the december report, they see an improved economy. there are less risks, but covid is not over, especially as we have new variants spreading and case cans beginning to rise, and fiscal suppo

i'm dani burger in london.

i'm dani burger in london. this is what is coming up, credit suisse's