. ♪ >> welcome to "bloomberg daybreak: europe."m in the city of london and i am joined today by by meme matt miller. there is a lot going on in markets and i'm looking forward to seeing how this develops after yesterday straight or it -- yesterday's trade. anna: asian stocks might be getting a bit because of the japanese data on trade, but also because of the oil price. thettle bit of recovery in oil price. what we saw yesterday was significant. nymex showing the oil might be bouncing a 10th of a product -- a 10th of a percent this morning. the session was pretty significant. this is at 78, if you want to bring this one up on your screen. they were down by 3.1 percent. u.s. stocks taking a bit of a hit as a result of that. inhave to put that oil story because we have stronger trade data out of japan. it is courting people's imagination over in the asian trading session. matt: i will take a look at some of the things on your risk radar or it take a look at the euro-dollar. saying,had an analyst if things go horribly in the french el

this is "bloomberg daybreak: europe."you're in france. 11 french presidential hopefuls clashed in the first ever election debate to include all 11 candidates. the focus fell on the front runners, marine le pen and emmanuelle macron. we need patriotism, we need for our businesses to have an advantage in the opening of our public contracts. for's true for businesses, our industries, and for our agriculture. we need our production putting competition with products that don't respect the same laws. proposing ise nationalism. i come from a region where conflicts between european reminded, as we were rightly, you have to know where you come from and where the separation would take us. nationalism is war. i come from a region filled with cemeteries and i don't want to go back to that side of the black line. anna: some of the highlights from that debate. according to a poll after the debate, it was a third candidate who emerged triumphant. that melelchon was most convincing. let's get your thoughts on the french election. the lat

anna: welcome back to "bloomberg daybreak: europe."murky looking victoria harbour. the hang seng down by .6%. it is 6:19 in london. that's get the bloomberg flash with debra mao. >> gary cohn is said to support a policy that could see wall street firms suffer in their consumer lending businesses. according to people with direct knowledge of the matter, the comments were made in a private eating with lawmakers. they said executive, generally favors banking going back to companies such as citigroup primarily issuing loans. deutsche bank is poised receive orders for almost all of the 8 offer touros of stock investors as the sale draws to a close. according to people familiar with the matter, investors are pledged by more than 95% of the stock on they'll in the offer which ins today. one person said about 80% of investors decided to participate in the capital increase with some offering to boost their exposure with new investors buying the rest. china soared as it the exact chain help earnings be estimates. same-store sales for the first q

. ♪ manus: it's daybreak europe.ay were going to get details of what has been one of the great driving forces of the truck rally. it said it will include a 10% tax on more than two point $6 trillion in earnings of u.s. come preset are stockpiled offshore. down from about 40%. the plan is expected to include a 15% tax rate for corp. rations. joining us is a cheap economist at g plus economics. is there a risk that if the tax reforms don't deliver similar to what we describe, markets will be disappointed, or have they been quite happy going with other factors? >> i think has april comes to a close, there's been a distinct team for the markets this month which is been a remarkable: really that coexistence of political uncertainty and resilience. the various setbacks in the that presidenta trump has been promising, or not really causing distress to businesses. season has been supportive for valuation. although i think there's a tale theisk to be had, uncertainty is going to remain. valuations,ention and this is what we s

this is bloomberg. ♪ welcome back to "bloomberg daybreak: europe." and the donald tusk agreeing to look for ways for -- since triggering the brexit process. it is a week since discussing the possibility of war over gibraltar. and the economy minister of germany telling bloomberg they are in a good position to weather brexit. europe will be affected by brexit, the economy of england, germany and europe are closely intertwined, that is why this is not a nice situation for us. on the other hand, the german economy is so well-placed internationally that it can whether through and hopefully we will get rules that will allow trade in another form. stilland stephen gallo with us. does the u.k. economy find itself in a sweet spot? we are taking a look at this chart. this is the balance of payment improvement we have seen since brexit. this because of the weaker pound helping with trade, but we have not seen the other side of the story, we have not seen any change to the terms of trade that great britain will enjoy for the rest of europe. you are right. the u

that will do it for "bloomberg: daybreak europe. manus: stocks are bid.st of conversations. ♪ ♪ guy: welcome. you are watching "bloomberg markets: the european open." i'm guy johnson in london. matt miller in berlin. let's talk about what we're talking about. dl ident trump wants to slash corporate rates 15%. the emmanuel macron rally up yesterday.

"bloomberg daybreak: europe." it looks sunny in sydney.p asx 200 for the days trade. the bank of australia is meeting next week. longer below 2% target range. we are atf australia, 0.74. 80% jump in an first-quarter profits. net income outpaced analyst expectation. the bank said it is yet to see a sustained pickup in client activity. manus cranny spoke to the ceo. sergio: we do see a little bit of momentum coming from the q4 into q1 in terms of opportunities that are more constructive. translating that into sustainable client activity across the board, and some other matters -- we are seeing a difference between private clients in this quarter, we are more active than institutional. i think it will take a while to normalize the situation. we do need more concrete actions in the world, politically speaking in stabilizing the geopolitical situation. : 100 days into the wemp administration, -- when caught up earlier, is the lever that shifts? levers will be concrete plans that will translate into action. they will potentially fuel be momentum

welcome to bloomberg daybreak: europe. i am matt miller here in berlin.i am manus cranny in the city of london where we are -- have breaking news on one of our biggest retailers here. it is tesco, they delivered the numbers to the market. like for like u.k. sales rising by .7 of 1%. the market had penciled in a rise. that is bang in line. getting back to double-digit ultimate nirvana. that beats the estimate of 1.2 6 billion pounds. i have been in there and contribute it myself. what else have we got? above, theidge estimate 55.7 billion. snapping up is audi and on the major side. out --ld be proud, 1.2 1.2 8 billion pounds on the estimate. that is good news, like for like sales bang in line. the big disruptor is the 4 billion pound bid, that dispute between is a good value for money has gone from boardroom to shareholders' shoulders. almost 9% of the shareholding roster has a problem with that deal. let's see what the cfo has to say about the numbers. joining the bloomberg team around 9:00 a.m. u.k. time and you can hear that interview. take it away on t

. >> it is "bloomberg daybreak" europe. our flagship "morning show" here in london. i am mannus cranny. >> and i am matt miller ahead of this four-day weekend we have coming up here. >> four day weekend. i can actually smell it. it is in the air. there are less and less people this morning. but there is a whiff of fear in the markets. let's have a look. 7767, two things coalescing together. the vehicles up 27%. there is a little bit of unease in the equity mark. no doubt about it what you are seeing is the j.g.b. the yen has behaved classically this week in many dimensions as the u.s.-russian relations hit an all-time low. north korea getting ready for something big. could that be another nuclear test? nd the pan risk is rising. the japanese government bond is back in positive territory. matt, we are back. we are careering back towards zero percent, a level we aren't seen since november of last year there. is a lot of manifestation in the risk radar, doesn't there? >> yes. let me start with the dollar because of trumps comments in the wall street that a stronger doll

this is "bloomberg daybreak: europe." 1:18 in the afternoon in hong kong.ll the markets are closed for public holiday, be aware of that. 6:18 in london. let's get to the bloomberg business flash. deborah: anna, thank you. u.s. auto sales came up short last month, with ford and kia leading declines, amid plunging demands for sedans. ford fell 7.2% while kia and hyundai dropped 11.2%. general motors, fiat chrysler, and others came in short of expectation. march is supposed to be when they rebound from declines in january and february. tokyo afterped in news that the struggling conglomerate will seek more funds after its westinghouse nuclear unit filed for bankruptcy. the company is to hold a lenders meeting and ask for additional assistance to cover a temporary surge in losses. the ecb estimates that about the need about 6.4 billion euros to bolster their balance sheets. according to people familiar with the matter it also considers them to be solvent . the ecb declined to comment. a spokesman said the italian treasury wasn't immediately available for comment

david: daybreak europe is coming up on the top of the hour.rg. ♪ manus: the fed shifts gears. chair yellen says the central bank's focus has moved away from crisis management and is now slipping into neutral. stocks slump. asian equities take a leg lower, treasuries rise, and the yen is on the up. risk off for investors as they approach the european session. declinefaces its third for its third deadline to report earnings. how bad will the numbers be from the embattled electronics empire? and tillerson's trip. the u.s. secretary of state arrives in moscow later today as the trump white house steps up the warnings in syri

this is "bloomberg daybreak" europe. has your business flash.: verizon is considering a merger possibilities to set the course of the company given the fast-changing structure of the industry. the ceo says he would be open to talks with comcast. new forces ofking growth as the mobile phone business matures. as the new media ventures take time to gain traction. ibm's quarterly sales fell short of estimates for the first time in a gear. struggles in some overseas markets and delays and service contracts, reminding investors that they should remain on the path back to growth. the 20th decline, margins contracted from last year, sending shares to an extended trading. strong demand for product such for ae it compensated weak performance in other areas. the maker of maybelline said it revenue advanced 4.2%. work in the luxury division was double was predicted. lower -- a real making a decision on the future of its shop. that was your bloomberg business flash. manus: bloomberg caught up with the -- esther george. one of the big concerns for investors.

first-quarter numbers from deutsche bank to .oach -- roche ♪ anna: a warm welcome to "bloomberg daybreak: europe on anna edwards. manus: we have a feast of breaking news for you. a headline on airbus first of all. adjustedst quarter ebit against an estimate of 326 million. they're confirming the forecasts and giving numbers for orders in revenue as well. they've been facing some production glitches that's been afflicting them with the newest in their high-margin jets facing some of the problems. they have suffered problems because of shortages from suppliers. two suppliers both said they were addressing the issues but perhaps it's something that's giving the company policy for thought this morning. that's one of the companies were covering, airbus saying adjusted free cash flow has come in at 1.6 billion euros. manus: let's talk about the world biggest cancer drug maker, roche. the company confirmed its full-year -- there were talking about 2017 as being low mid single-digit growth and they been hoping to raise the dividend. ,irst-quarter sales is a beat 2.70 7 billion. the big issue is that the

. >> a very warm welcome to "bloomberg daybreak: europe," our flagship morning show from london. i am anna edwards. matt: i am matt miller in berlin. a lot going on this morning. markets will be very interesting as they open and into monday morning after we have these french elections. anna: absolutely. we need to talk about the french policy story and what we heard from the u.s. yesterday, also from governor kuroda at the bank of japan. let's put all of that in the mix right off the top for this morning. i have a chart of the s&p 500, making steady gains, but getting a boost because of what we heard from the treasury secretary around taxation. this has been carried into the asian session. the u.s. of ministration is aiming to complete the biggest overhaul since reagan by the year end, even if the second attempt to reform obamacare, even if that fails. this seemed to capture the imagination of investors yesterday. investors say he is worried about the high levels of the s&p. he draws our attention to the ratio between market cap and gdp that is.s. and suggests stressed. markets l

this is "bloomberg daybreak" europe.rump administration will offer an outline of the tax reform this week, full details will not be ready until june. manus: that is according to mick mulvaney, he said that he promised news on wednesday telling his twitter followers at a big tax reform will be announced. reform, not much detail. is that going to be a risk of disappointing the market? >> i don't think it is a big risk because polling dates are -- the vast majority do not really expect anything on tax until the end of the year and sometime next year. i think people of got the message that it is going to take a wild. i think that has been one of the factors actually which has columns markets in the last few months in certain sectors of certain markets in particular. consolidated -- they have consolidated to a large degree. it has already been priced in. you quoted survey that shows only 5% expect tax reform by the summer. a very limited already. we are trying to work out where the fed goes on rates in the context of what the

♪ anna: a very warm welcome to debate -- bloomberg daybreak: europe -- "bloomberg daybreak" going tondia and cfos are up there of the u.k.. most optimistic in 18 months. is it getting harder to hold onto the short dish? data, slightly likes but you can see short vision was after the flash crash. we are less short on the british and thatn we were, positioning is getting more and more difficult to hold onto. 1.21 by the beginning of this year. it depends which research you've read. every time you see a little bit of a nuance, you see a squeeze wethe purpose house anna: were talking a lot about how short the market was. bit ofk radar, a little a picture of where we are on various assets as you go to the asian session. dollar pretty weak. new york president weighing in on where the fun because next. no huge rush to raise rates more quickly. we are focused on geopolitics arrest north korea. manus: a nice flow of money into european -- the euro. you take the dick black of inflation, what does that do to the european? yourlow of money into assets can drive the euro dollar higher. the asian

daybreak europe is next. euro-yen ahead of the ecb. ♪ tax and trade. the u.s.terminate nafta but pledges to renegotiate the deal with mexico and canada as the white house delivers its tax plan. keep: bank of japan stimulus unchanged and lowers its inflation forecast. the ecb is expected to maintain rates later today. anna: after a strong earnings season from the u.s., a slew of european results this hour. we will break down first-quarter numbers from deutsche bank to .oach -- roche ♪

"daybreak europe" is next. ♪ anna: prepare to volatile till of the.votes are up for grabs. the u.s. vice president is in japan after delivering stern warnings in seoul, mike pence says the u.s. is deeply committed to japan's security. anna: the dollar tug-of-war. the u.s. secretary tells ft that a strong greenback is a good trump talked it down. very warm welcome

coming up with daybreak europe with the latest on the brexit negotiations.berg. ♪ ♪ the prime minister looking for a early election. may plans brexit her way. deflation drop as inflation expectation tumbles. jgb, touch zero once again. world'swn with the richest man. we talk tech, tax, and trump. >> you see his pragmatism on a number of things. i am certainly hoping that the

welcome to "daybreak europe," our flagship morning show here in london. i'm manus cranny. matt: and i'm matt miller in berlin. manus: good day to you, good to see you. it is risk off by a variety of measures, but none more so prophetic than this. btb, 7694. euro-yen, dropping for 11 straight days. that is the longest losing streak on record. what are you looking at? this is the 200 day moving average. we managed to close below the 200 day moving average, a whole variety of issues. syria, tillerson going to russia, trade fractions between the u.s. and china, and the french elections. the risk reversal -- i know you plot the binomial distribution curve of risk reversals -- it is the lowest since brexit for euro-yen. the consensus is we will be 121. matt? matt: manus, they say genius minds run on the same track. most of our viewers won't believe we don't plan this, but the first thing i thought of on the risk radar as well with euro-yen, because of the amazing run we have seen. here you see i have the same asset . we think alike. did we wear the same thing this morning? here

and his team will be fleshing out everything for you at the top of the hour on daybreak europe. to bring attention, our interactive tv function. you can not only watch us live, you can scale back a little bit and bloomberg functions in charge of what we talked about here on the show. you can also become part of the conversation by sending us instant messaging during our show. for bloomberg subscribers only. check it out on tv . -- course aourse call for all of the contrary in spirit a quick look on how the mahdi markets are faring out. you are looking at wpi at $53 $53.49. -- $1275 announced above the flat line. that is it for "bloomberg markets: middle east." david: more from markets next. this is bloomberg. ♪ manus: mission to moscow. facing the kremlin after the u.s. accuses russia of trying to cover up evidence in syria. risk off. japanese stocks suffer the brunt as the yen flexes through 110. investors seek refuge. producer peaked. chinese pvi moderates from the february high. what does it mean for the global reflation trade? we break down the data.

tomorrow on bloomberg daybreak: europe, a big conversation with the barclays chief executive jen staley a.m. in new york. bloomberg markets continues. this is bloomberg. ♪ >> it's noon in new york. 5:00 p.m. in london and midnight in hong kong. vonnie: welcome to bloomberg "markets." from new york, we're going to take from you washington, d.c., to san francisco, and buenos aires. this hour, here are the top stories on bloomberg and from around the world that we're following. in markets, u.s. stocks are giving up earlier gains as political wrangeling in washington raises the specter of a government shutdown. the mexican peso and canadian dollar are advancing amidst mixed signals from the white house on nafta. several tech giants are poised to report earnings after the bell today, including amazon, microsoft and intel. tech shares have outperformed the s&p 500 this year and the nasdaq is poised forjet another record close. later this hour, we'll hear from the cremplet o. of box. the startup is taking up amazon in the bat bahtle for household goods. but having a smaller number of products

welcome everybody to "bloomberg daybreak: europe.

oliver: that was larry fink on bloomberg daybreak: europe today.ouse speaker paul ryan has been meeting with allies -- right now, he is speaking about u.s. and u.k. relations in london. >> what a very special time. my one thought that came to mind us and as i watched what transpired yesterday and today is that this is a time for bold leadership and theresa may is certainly setting the standard. [applause] ryan: it's a historic event and it will be a hard-fought election. you don't get any sympathy from us. in the house of representatives, we do this every two years. ultimately, it is up to the british people. to determine their political future as only they can. we have a lot on our plates. i will simply say good luck and please note that no matter the outcome of this election, the united states will probably -- proudly stand by your new government. an american leader coming here has to do two things when the come to london. first, be thankful that we don't have prime and mr.'s questions. best second, we have to quote churchill. we have a bust of c

bloomberg daybreak: europe is standing by with the professor now.a is standing by with the professor now. >> the way your economic work has been used in the french president shall campaign -- is your criticism there the way it is being used? i saw myself as being quoted union andnti-european unity. i think european unity is extremely important now for europe and the world. i have been very critical of the european common currency, the euro. i think might opposition to the has been translated into being and site european -- anti-european union. that, i'm not. when you look at the election in france, is there commonality, connective tissue between the conversation about inequality and populism there and what we saw in the u.s. and has seen in the u.k. as well? is, in that there is the next rotation of people who feel they have not gotten a good deal at all. of marine leiew pen, extensively, and her campaign. commonality.inly a these people don't want, i pen as theire le president. on the other hand, she has said she is the only hope they have. a subsi

welcome to "bloomberg daybreak: europe," our flagship morning show.t miller here in the german capital of berlin. manus: i'm manus cranny in london. matt, let's see where the trading week is going. i think london will be focused on bhp billiton. london, paris, frankfurt a reprieve. we wait to see with the g 11 delivers. what happens post-nato? what is the next step from the united states of america? should we be relieved that there is a 100 datay trade plan? equities are slightly better, the billiton news we will talk about later. a selloff of the petroleum business, really deliver value for shareholders. about 4%imization -- holding through a variety of methods in bhp billiton. miners are in focus, let's go to the risk radar. matt: let's take a look. it'll hshow us there isn't very much concern, markets fairly complacent. the dollar gaining strength against the yen. you can buy more yen today for a dollar and you could on friday. days, lastuple of couple of trading sessions, we saw the yen lose some strength. today is the third day of that. that boos

get around roundup of these stories and many more as you get your day going on this bloomberg daybreak: europesubscribers go to dayb on your terminal. mobilelso available on in the bloomberg anywhere at you can customize your settings so you only get this news on the industry is an asset -- industries and assets you care about. this is bloomberg. ♪ anchor: a chinese company looking for overseas acquisitions, increasingly turning to offshore dollar funds as capital controls answer their ability to finance deals. tom mackenzie. >> for many of the chinese players, they certainly are having issues now that the foreign exchange control is a lot more stringent. i think of the government as doing the right thing, though, rationales ill the imagine about companies who want to buy international companies, see farnt yield to, you more acquisitions not the much based on that. it was more based on capital market multiple -- you see people bidding out the prices in the international market. prices that the local minister will not pay. it is not a strong rationale for wasting the foreign exchange reser

using get all of your stories in bloombergition of daybreak: europe it is also available in the bloomberg. you can customize your setting so you only get the news on assets that you care about. this is bloomberg. ♪ is "bloomberg daybreak: asia." bpo is time to close an oil well after a leak was discovered. the well is venting gas and crude. environmental protection agency has yet to determine the size of the leak. leak is contained. it rose to 506 5000 barrels a day last month, its highest level since december 2013. betty liu: the first u.s. bank earnings under president trump shows a split between wall street and main street. revenuerevenue outpace --a fed rate hike paired rate hike. a sluggish results and a fall in total loans. airlines has changed its policy on employee travel. onws flying as passengers planes have to be booked in our before departure. a social media backlash showing a united passenger being dragged from the seat and forcibly removed from the aircraft. he was taken off the flight to make way for an airline employee. play more still to come with asia's first major marke

amsterdam live from on daybreak europe. yorkenergy ceo live in new at 10:40 this evening.finance minister. stay tuned. this is bloomberg. ♪ of tcl has head urged president trump to make acquisitions in the u.s. said he was in the final stages of investment in tech firm that could be worth $300 million. government has not approved the deal come but they have not formally rejected it either. we signed an agreement with the u.s. company six months ago and have submitted this deal to the regulatory body. when the deal was about to approved, trump got elected. in ordertrump issues to suspend all the acquisitions in the technology sector that were waiting for approval right after he took office. the project we are working on is a completely civilian project that does not touch upon any military or sensitive areas. i don't inc. it is reasonable that it is so difficult to get an approval for this kind of project. the hurdles he faced with this deal, dissipates you reassess your appetite for potential acquisitions in the u.s.? i believe that ultimately the u.s. government will supp

right now, bloomberg daybreak: europe what do you have? david: we had him on a short while ago.watch. we are through the first round. we will look at the aftermath. we may talk about north korea with that u.s. aircraft carrier group offshore. that is coming up. francine: thank you. david westin. we caught up with him in washington on friday. is one of the most famous and popular french in brussels. thank you for joining us. a quick comment. how surprised were you by the outcome? there is no recognizable party in the second round of the french national elections. is a shock. in 2002.ady happened this time i was not surprised. we have a clear choice between a pro-european candidate and the anti-eu marine le pen. you, she will be defeated. she is not going to be the next president of france. i think macron meets the strongest possible support because we need populism to get back. i would like him to have a large victory. i will bring him mindful support -- my full support as a frenchman and european. those in favor of open societies, open economies, strong europe, and a society , a

this is daybreak asia, coming to bloomberg's asia and europe headquarters. charlie: it is just after 7:00 a.m. in hong kong. i am yvonne man. massive risk on rally started in asia and swept through here as well as the u.s.. yvonne: it seems we are poised for further gains in the region. betty: it has come full circle back to the u.s. and now back over to you. as you had mentioned, new zealand and australia markets are closed today. u.s., it was all risk on, and the financials were the leaders here. yvonne: yeah, that is take a look at how markets are trading in the asian pacific as you mentioned. australia and new zealand are closer today for the holiday. this is what japan teachers are looking like right now. it looks to be pretty positive, and we are set for possibly a fourth day of gains. dollar-yen, we have come back down a bit on that yen weakness. it is 109.81. we were hitting above 110. it looks to be a good day in tokyo for equities. that is an early look at what you can expect in the region this morning, betty. betty: let us take a look. let us brin

europe to outperform. a warm welcome to bloomberg daybreak on this tuesday, april 25, i am jonathan ferro alongside david westinow on the back of some strong earnings, futures on the s&p up eight, one third of 1%. yields higher by three basis points, 2.30 on the 10 year. that is the story cross asset. let's get your movers. alix: 10% of the s&p reporting today, 52, and good numbers from the big guys. caterpillar up almost 6%, a blowout quarter on the top and bottom lines. restructuring costs will be higher and they warned of continuing volatility for the rest of the year but you have child's -- china sales good, latin america sales good, and the united states is a little bit soft. mcdonald's beat on estimates and up sales up 4% -- cop sales -- comp sales up 4%. game was know if the for people going more frequently or spending more while they were there. 1%, earnings of down 20% year on year, revenue down 11%. u.s. soda consumption at a 31 year low. coke will continue to cut more costs as it spins off its handling operation, a huge earnings day. caterpillar, 3m, and mcdonald's boosting the dow. we are about 24 h

europe and latin america de son settlements. -- based on settlements. they use the daily weighted average. yousef: let's bring rob back in, chief economist for asia. i pulled "daybreakgain. transcript,n at the he points out something is wrong very clearly. it is holding us back. it is something pointed out in the gadfly article you can pull up on the bloomberg. what he is citing is labor force participation rate, and for structure spending and education. he disagrees with the idea the slower growth and lower productivity are a permanent feature of the u.s. economy. agree or disagree? moment,hink at the potential growth in the u.s. is .oing to stay weak i think a lot of the policies trump is proposing, to me are more short-term fixes in terms of getting growth stronger, but it is not really helping the supply-side of the economy. you need education investment, you need investment in research and development. i'm not sure they're going to come through quickly. i think the risk is maybe demand runs ahead of supply and you could potentially see inflation eating up. picking up. the survey data is a lot stronger than the real activity data. i think gdp tracking estimates

daybreak: americas. it is notetimes think actually all about donald trump. there e a lot of things going on in the world like a data flow from the actual economy and including the data flow from europere parts of europe have picked up and that is part of what drives markets as well. i understand why there is more encouragement about the economy. i'm not sure i see what in the economy would justify a market move of the magnitude we have seen in the last month. it wouldn't surprise me to look back and see that there was a bit of a sugar high in some of the valuations that we are seeing. but calling market tops is impossible. to say that there may be a sugar high element is not to deny the possibility that the sugar high could get someone higher. they will be getting people near-term investment advice. to i think it would be hard look at things and not be a little struck by the magnitude of the move. i think a certain amount of apprehensive nests, given all the various politics in europe, what is happening in asia, uncertainty about the capacity of the government to move legislation, there seems to be more room for downside surprises at this point been there is room for upside surprise

in europe, the french bond market is very stable ahead of the first-round vote on sunday. the euro a tough softer by .1%. from new york city, from the "daybreakeekend for you at home. this is bloomberg. ♪ vonnie: it is 10:00 a.m. in new york. from new york, i am vonnie quinn. mark: live from london, i am mark barton. welcome to "bloomberg markets." vonnie: we'd take you from new york to london and cover stories from washington, d.c. and paris. first, breaking economic data. here is abigail doolittle. abigail: for the month of march, we are looking at a beat in existing home sales. month over month basis, this represents 4.4% growth relative to the month of february, where we saw a decline at 3.7%. perhaps, this is a reflection of what we saw that pending home sales is a beat because of warmer weather. but it will be interesting to see whether the strength for existing home sales proves to be a blip. not a lot of reaction to existing home sales from

europe. >> twitter addressing it vague challenge, adding new monthly users. >> malcolm turnbull aims to tackle australia's power shortages, forcing export curbs on gas producers. this is daybreaksia from bloomberg's u.s. and asia headquarters.rs. i am betty lou, i am in new york and it is after 7:00 p.m. yvonne: it is just after 7:00 a.m. here in hong kong, i am in unmanned. ,reliminary numbers coming in 2.7% growth in the first quarter. better than what economists were expecting, they were expecting 2.6%. quarter,an the fourth that 2.4%. lot of positive signals coming off the fourth quarter when it came to industrial production, investment, and consumer sentiment. they were quite strong. we watch the reaction out of seoul here in an hours time. this was up 0.9%. how things play out here. here are how things look in the asia-pacific. we did see this selling the last part of the trading session on wall street, flat. 5896.wi holding on at a tough week for the currency. we have been holding at the three-month lows after inflation disappointed yesterday. 7478 in futures. ecb, theht before the yen was heading lower, 111.18. comfortable above that handle. caution into those decision

europe. this is bloomberg. ♪ jon: from new york city to our viewers worldwide this is bloomberg daybreak.an ferro. in the last hour and explosion rocks a subway station in the second largest city of st. petersburg. vocal prosecutors have confirmed the blast in the center of the city but have not yet confirmed the noble -- the number of casualties. running is now is bloomberg's moscow bureau chief. a sad tale of events in the last hour or so. can you give us an update on the details? >> yes. this attack in st. petersburg has killed at least 10 people. the blast itself was confirmed by city officials. unfortunately, the number of dead as well is coming out. >> president clinton in the city of st. petersburg today. what is his response to the event? president clinton is aware that there is a blast in his hometown where he is holding meetings today. he has told law enforcement officials, security officials to investigate the blast, find the cause. he says it is too early to confirm what might be behind it. jon: we appreciate the update from you. we will hear much more throughout the programmi

daybreak asia, i am betty liu in new york. yvonne: i am yvonne man in hong kong. several senior executives have left deutsche bank after the lender slashed bonuses for a second straight year. europe'sing to -- there were misconduct finds. they say the lack of clarity on compensation will make it harder to retain talent. betty: wells fargo trade holders -- there was a fake account scandal. the board's corporate responsibility committee should be held liable for what it has called a clumsy response to revelation that at least 2 million accounts had been opened permission.omers' yvonne: rejecting the bank's proposal for $26 million in bonuses to the executive board. the advisory firm said that the amount is wholly inappropriate, given losses suffered by shareholders. -- 33% of its 33 shares. betty: jamie dimon and his shareholders, we will dig in. ♪ >> it is 8:30 in singapore. i am in hong kong. >> i am in new york. you are watching daybreak. counting the count for my in chilie. the agency says that the 1%ruption means the loss of of annual global production, than $1 billion. china became the biggest purchaser of u.s. oil and quadrupled purchases. it has jumped over $8 million exports

daybreak." i am in much on up in the next hour, andrew wilson, goldman sachs asset management international ceo, on the europeast, and africa. ♪ new appraisals in the permian suggests a lot more value available before and that the suppose it but oh -- the supposed bubble is about to burst. compared to that $60,000 paid last year in the region. joining us now is the cohead of the energy group. great to have you on the program. the permian basin -- bubble or value for money? morning, jon. there is value. it is not just the acreage, it is what is underneath the acreage, and i think the industry is becoming much more adept at finding additional reservoirs, additional ways to extract the hydrocarbon, and that is why the value has gone up jonathan: when crude has done, what, try to explain that to me. a is cost efficiency and technology. that is why it is moving up. david: how much of the saudis driven up that price? they have tried to put a floor underneath the price of oil. osmar: there is no doubt be opec agreement has had positive impact on oil prices. i think the activities going up irrespective of commodity p

daybreak." let's hit you up to speed on the market action. a session looks like this. -26 points down on the dow. the united states, the price action is muted in europend the dax. if you switch of the board quickly, talk about muted dissection. the dollar weakness over the last couple of days driven to some extent by what has been happening with the stronger japanese yen. we struggle to make moves this morning. yesterday we made a big move lower. 30 year bond skied issued and sold this morning. $12 million of them. we wrap up the cycle super late this week. alix: equity buying isn't terrible today. blackberry, highest move since 2016. they were rewarded arbitrations follow a suit with qualcomm. royaltyhat over payments. lululemon also popping. staples says that shares could double in two years. it says the product output that we saw was a temporary event and a buying opportunity. we only see a little bit of the .ovement earnings came in better than estimates and revenues coming in in line. we also have the first gain since november. this is all about the pricing capacity. and what will early -- what will airline pcing capacity be in the short term? w