good quarter for deutsche bank. we are going to be speaking to the cfo in 30 minutes time on the bloomberg daybreak europe. you do not want to miss this conversation after this report out of frankfurt. we are going to be speaking with santander, delivery hero, and deutsche bank. you do not want to miss our results season, executives from across sectors. let's take a look at where they trade this morning. equities study, unchanged across asia. green on the screen when you look at futures across the u.s. and european equity markets. it is a big day for central banks on policy. joe biden nearly 100 days in office. the fed wraps up there fomc meeting. christine lagarde is going to be speaking at the aspen institute. let's look what's going on across assets. a little bit of selling in the treasury market. yields higher about 1.63% on the 10 year. brent crude 66. they decided to have an opec meeting and they decide they're going to keep an eye on india, but they will continue to supply more to the market. commodities have

deutscheank's big beat. the lender posted its strongest quarter since 2014, boosted by spreading unit. it is fed day. investors look at for jay powell 's views on inflation and the accelerating recovery from the pandemic in the united states. alphabet revenues smash estimates and buyback plans boost the stock after hours. microsoft also beats the street but not enough for investors. good morning. welcome to "bloomberg markets: european open." it is later in singapore. mark joins us from their. what are the markets saying to you, mark? mark: well, it's a well-equipped -- relatively quiet day in markets. that is to be expected, given we have got the fomc tonight and lots of earnings to scrutinize, and of course the biden tax plan as well. those issues are preoccupying traders. and the huge humanitarian crisis that is the virus continues to get worse in india. the macroenvironment relatively quiet today. anna: absolutely. we will continue to pick up on some of those themes, certainly around infla

deutsche bank upending the bank sector. thanks up 1.5%. -- banks up 1.5%. deutsche's up 11%.ia trading higher. the utility, the dividend, the bond proxies are down at the bottom. that seems to be the continuing narrative. it will be interesting to see whether or not this continues. the narrative for individual stocks is where i'm finding the excitement. deutsche bank is finally delivering. we are halfway through the renovation plan of deutsche's. at the moment we are starting to see the market begin to grow. deutsche bank posted the best numbers in eight years today. the market rewarded it. over 11%. i cannot remember the last time i saw deutsche's deliver those numbers. delivery hero also strong numbers. up nearly 10%. the jp morgan note described was really impressive. up nearly 10%. sanofi having a good day in the drug sector. that stock up 2.32%. it is a better late than never narrative. sanofi certainly being rewarded by investors. alix: let's get to that. the cfo did speak earlier to bloomberg about their covid shot. >> we are strongly committed [indiscernible] this wil

how was deutsche bank able to escape these losses?on friday, when goldman sachs had these big block trades, it's somewhat spooked the market, means these stocks fall more. you are going to crystallize pretty significant losses if you continue to sell. this was a scoop from the bloomberg banking team saying that deutsche bank was able to do a big sale on friday, the same day we saw those block trades from goldman. we don't know everyone who they sold it to but we do know that a hedge fund payment in europe was one of the one spot here. if anything, these -- this raises more questions about credit suisse why did they wait? why did they have such significant losses? did it have to do with the size of what they were holding or the relationship with bill hwang? they are in the middle of transferring their prime broker -- deutsche bank is in the middle of transferring their prime brokerage service to bnp. manus: it comes down to what kind of security you have been given. if the quality you are holding is lower than everyone else's, it is ha

this is definitely in the porton point in the way back for deutsche bank into you know the spotlight or into decent business making but there are still a lot of you know open questions of torture bank let's not forget the supervisory board only recently a member had to leave the board because he had been too close to wire card. we have to be careful with deutsche bank there's always the potential that something else comes out there but yes so far this is a very positive step forward. conrad who isn't reminding us there's always a story with deutsche bank thank you very much for your insights. asian economies are bouncing back from the cove in 1000 pandemic but at very different speeds that's the key takeaway from an asian development bank report out today economic growth across asia is expected to jump 7.3 percent this year after a 0.2 percent contraction in 2028 but economic fortunes are diverging across the continent china is set for a strong rebound this year thanks and part to booming exports the rest of the world but growth will be much lower in the tourism dependent economies o

laura: deutsche bank looks to dodge a $4 billion hit.rces say it sold the holdings in a private deal friday. bankers were scrabbling to get rid of exposure to the firm or get stuck with massive losses. mullis is giving investors a $10,000 allowance for 2021 and is encouraging -- sources tell us it wants the money to be used on improving mental health. taiwan semiconductor will spend over the next three years to grow its chip capacity. it is the world's leading manufacturer of it advanced semiconductors, and is planning a record expenditure. it is working with customers to overcome demand. working from home is likely here to stay, that is the finding of a survey of 2000 companies in the u.k. most are planning to allow greater flexibility when and where people do their jobs. two thirds of companies are developing a hybrid work model. do not miss our special show at 8:30 a.m. anna: thank you very much, laura wright. president biden has kicked off his infrastructure push. reacting to the plan, dallas fed president had a bullish tone. >> the

a slush funds it sounded very concrete because deutsche bank was struggling and had problem anymore noone had to dish and of course why are cards idea was to prop up this theater of illusion to toil when perhaps also fulfill the politicians dreams of a major german financial player did a much bigger con if they would have acquired deutsche bank or doing bank acquire them or they merge they would have accomplished the ultimate and that is become something legit and then they would have written everything off and gone off into the sunset as part of deutsche bank. something the forgotten how true fairly good has been cases in the past when fast growing companies with high stock market values have taken over well performing traditional companies the. good for the in the 22 little dilema below. sometimes it went well and sometimes it didn't in this case i'm very glad the speculation didn't actually come to her wish and before it just. went k p n g did their investigation they flags the issue of escrow escrow accounts and at that time wired quite provided no documentation. on the transfer of

if they would have acquired george bank or deutsche bank acquired them or they merge they would haveaccomplished the ultimate and that is become something legit and then they would have written everything off and gone off into the sunset is part of deutsche bank. something the forgotten the true figure that has been cases in the past when fast growing companies with high stock market values have taken over well performing traditional companies. in the. sometimes it went well and sometimes it didn't in this case i'm very glad the speculation didn't actually come to fruition forced to. when k p m g did their investigation they flagged the issue of escrow escrow accounts and at that time wired quite provided no documentation. on the transfer of the alleged escrow account from singapore to mr tolentino in the philippines it happened at a time when k p m g was already conducting a special audit intended to investigate precisely this asia business and the escrow account into. this and mr tolentino was a lawyer who had mainly dealt with divorce and custody disputes so there was no apparent

deutsche bank is getting more adept at dodging the situation.t compare and contrast what would your bank did and what credit suisse didn't -- what deutsche bank did and what credit suisse didn't. sridhar: deutsche bank was able to offload its exposure in what looks like some scale, some amount of luck, finding a good side to that trade and offloading therefore billion-dollar exposure, while on the other hand, just judging from the statements we have from credit suisse and nomura, they are still stuck with that exposure, and if the stocks don't rebound, that would realized losses that could be pretty sick and. -- pretty significant. alix: what is going to be the next shoe to drop? we don't know what those losses are going to be, but there are brokers at other banks that are going to be exposed. what don't we know? sridhar: at this point, everyone is still trying to piece together the entire story. are we still missing some other pieces? are there going to be other copycat hedge funds that employ similar strategies who are going to expose the mark

deutsche bank has not been in the conversation.ink it is a fair characterization to call credit suisse the new deutsche bank in europe right now? [laughter] marcus: that is bill blank's call. i think they need to get away from constantly stepping on exploded bombs. it's got exactly the same problem deutsche bank had. it doesn't have people stopping its aggressive business lines which you can handle when they all the wrong, and they are all going wrong. unfortunately, that is exactly what it is. jonathan: marcus, good to catch up with you. marcus ashworth of bloomberg intelligence, thank you. that is the conversation right now in europe, that credit suisse may be the problem child of european banking in the same way that deutsche bank was over the last couple of years. tom: if credit suisse was in london, in the city come out at the wharf, if credit suisse was based in new york, will that this conversation be? that is open to debate. i will wait on the reporting from that from sri natarajan and others. but what would their board be

and details emerged about deutsche bank executing a stock trade swiftly. let's take a look at the markets and show you what is going on. we are beginning to fade a little bit into the close. we've got payrolls tomorrow. that is a huge risk. we are up to 422 on the stoxx 600. we need to get to 433 four a new record. alix: here in the u.s., the s&p top 4000. obviously, tech is leading the way. i wanted to highlight more idiosyncratic story. micron reported a pretty strong quarter yesterday. check out the infrastructure stocks. by the rumor, sell the news -- buy the rumor, sell the news. is that what we are seeing here? the 10 year yield getting a nice bid. an ism blowout tomorrow which some forecast to be very bullish, and your yield now under 1.7%. guy: let's talk about what is happening with european stocks. i appreciate that the s&p is north of 4k. alix: you are the one who once a hat -- who wants a hat. guy: i do. i've got a 2k hat. i want a 4k hat. we are at 432 on the stoxx 600. i just talk about the french lockdown. you see that extended across the co

peter hooper, deutsche bank head of economic research., michael collins, pgim senior portfolio manager. adding a little bit of duration. nibbling at the 10 year torts 1.75 on a -- towards 1.75 on the 10 year at the end of march. mike collins bringing up an interesting thought. the idea that the fed does not get away from zero. gets stuck because it waits too long. conceptually that is something to spend more time on later in the year into next year. something to consider in something michael mckee tried to ask at the news conference. tom: he got slammed. jonathan: they played elevator music over the top of him and chairman powell did not respond. tom: that is accurate. what is fascinating as everybody is calling for higher inflation. jonathan: you see the research and you hear it on the corporate calls as well. this earnings season, microsoft later, apple tomorrow, amazon after that. the federal reserve with the decision. captivating coverage on tv and radio. tom keene and caroline hyde and scarlet fu making an appearance. looking forward

wes: i went into the world of finance and i was there working for deutsche bank in london.nice. i remember getting a phone call -- i was a brand-new analyst and it was from my good buddy, at that time major mic with the 82nd airborne. he said something to me -- " when are you going to get into the fight?" i am a paratrooper. i had gone through all my training with my soldiers, and as my soldiers are now deploying to afghanistan and deploying to iraq, i was working in high finance. i literally went back and thought about it and prayed on it and i went back and called him back up and said " mike, i'm in." i ended up doing a binding request and -- by-name request and left finance. i went to fort benning to do my training and moved up. around nine months after that conversation i had in the stairwell of deutsche bank, i was getting ready to deploy with the 82nd airborne to afghanistan. david: did you ask for an office job there? wes: no, not at all. i was very clear. i went over and i led a group of paratroopers as a special operations officer working information operations, ps

this product was the product several years ago, but deutsche bank has been in this market for over 15ave a dedicated team of professionals focusing on the spac market. and while there has been a significant amount of activity, we believe the market is here for the long term. it is becoming an asset class if you will. that hedge funds, they are all investing in this market and really a true asset class, so while we have seen a significant amount of activity as you said of over $100 billion of spac activity, spac capital being raised in q1, which if you look at the last five years, what we are seeing right now is clearly quality. there have been companies that have gone public through spac, but the spac's have returned if you will for the investors, and they have been really solid, but because of the valuations being significantly stretched, there is an increasing amount of capital flowing into this. we are seeing some normalization and valuation, normalization in multiples back in the spac markets. for the moment, it sounds like it, but much like any other markets we are going to see a

deutsche bank manages to avoid a loss. we have details on that next. this is bloomberg. ♪ robert: building back better was the central theme of joe biden's presidential campaign. it's what the country needs. this is all very much on the right track. i'm particularly excited about the infrastructure investment program, i'm particularly excited about the green aspect. >> among the highest return investments in terms of spurring private investment. we know public investments in airports return several dollars in private investments. investments in r&d provide the backbone off which private investment flows. these are the investments that can spur the kind of private investment we need. rishaad: the dallas fed president said some inflation will be a likely trade-off for the biden infrastructure spend. but what about long-term gdp? robert spoke to bloomberg. robert: the important thing i look at on infrastructure -- we've had a lot of fiscal spending, which has been necessary to emerge from the pandemic, but a lot of that spending will fund current consumpt

i rode my bike up the hill to report for deutsche weiland you can see that washington is in shock. --eutsche welle, and you can see that washington is in shock. >> can you give us a sense how close the suspect got to the capitol building, for someone who doesn't know washington? >> it was only a couple of hundred yards before the capitol building that this barrier went up where the car got stopped. it is honestly surprising how close vehicles can already get. it is not so far away. so this will be a question we will probably hear a lot the next few days, why ist that a car can come so close to the capitol building, after what we have seen on january 6? let's talk a little bit about washington anyhow. i am sure many in our international audience as visited the city, or seen movies or tv shows about washington. it has been the beauty of the capitol of the united states that you could really come close to the government building. it was only a fence guarding the white house until a couple of months ago. you could go there and take pictures. the same is true here at the capitol building,

jonathan t: if you look at the story, deutsche did actually manage the position far more efficiently.verybody had a bit of this. it was a question of who was most aware. so risk management and ubs, we have a new guy at the helm. no doubt, he will be thinking, i was entitled immediately. but he was quite clear on the interview earlier that he wasn't going to retrench from prime brokerage. lisa: there were some positive wins here, particularly when it came to wealth management. however, still a lot of cost pressures. our european banks only playing a game of cost cutting at this point? jonathan t: i think european banks are still somewhat behind the curve for cost cutting. bear in mind, everything was put on hold last year as dependent hit, and if you look a lo -- if you look at a lot of european banks' retail, these are some of the most over bent -- overbanked countries in the world. so i think there's a lot more to come. tom: you are expert at the revenue compare and contrast. i am always shocked at how small the swiss banks are on a revenue basis relative to the u.s. big banks. what

wes: i went to the world of finance and was there for a little while working at deutsche bank in london great, nice. then, i tell you i remember , getting a phone call. i was brand-new a brand-new , analyst working on deals. and it was from my buddy, a major with the 82nd airborne division. and he said something to me. he said, so when are you going to get into the fight? and that was indicting for me. i trained. because you know i am a , paratrooper. i have gone through all my training with my soldiers, and my soldiers are now in afghanistan, deploying to iraq. you know, i was working in high finance. and i literally went back and thought about it, prayed on it, and called him back up a couple days later and said, mike, i am in. and so, i ended up doing, they did a by-name request for me, and i left finance and went and joined up with the 82nd airborne division. i went to fort benning to do my training. then around nine months after that conversation i had in the stairwell of deutsche bank i was , getting ready to deploy with the 82nd airborne to afghanistan. david: ok, so you go to af

then around nine months after that conversation i had in the stairwell at deutsche bank i was gettingeady to deploy with the 82nd airborne to afghanistan. david: ok, so you go to afghanistan. did you ask for an office job, something where you could not be shot at or something like that? wes: no, not at all. we -- i was very clear. i went over and i led a group of paratroopers as a special operations officer, working on information operations, psyops, psychological operations, and we were in the field. what is interesting is so much of that conversation in 2005 was iraq. you know, we had about 150,000 troops in iraq at the time. in afghanistan, we only had about 17,000 troops. and so i remember when i got deployment orders for afghanistan, people were like, at least you're not going to iraq, not knowing the kind of fighting in afghanistan at that time. and literally within the first days of afghanistan, i started seeing firsthand -- literally, when you see your first firefight, you start seeing just what kind of fighting was going on in afghanistan. david: how long were you there? wes:

i wanted to point out that both the banks missed on fic after deutsche bankc -- on ficc after deutsche a 30% rise in ficc trading. bnp's was down 17%, which was another mess as well -- miss as well. there's a lot of different forces that investors will have to digest. anna: barclays taking a different approach when it comes to writing back provisions. let me ask you, sticking with the banking sector, when i spoke with jes staley, i was asking about archegos. there was no exposure there and that's what jes staley told us. there was exposure at credit suisse, which we know very well. we are seeing ongoing talk of management change their. dani: exactly. was developed this morning is more or less a win for shareholders. there had been a big, drive-by shareholder proxy advisory firm is saying to not reelect the risk committee. this is what a lot of shareholders had wanted. we will see whether they reward shares with demo today. anna: interesting -- with that move today. anna: interesting. the food delivery sector, we spoke earlier on this are to one business in the food delivery space. clea

that sounded very concrete because deutsche bank was a struggle and had problems it will go on the todish and of course wire cards idea was to prop up this theater of illusion to toil and perhaps also fulfill the politicians dreams of a major german financial player did on which people come if they would have acquired george bank or joint bank acquired them or they merge they would have accomplished the ultimate and then it is become something legit and then they would have written everything off and gone off into the sunset as part of deutsche bank. something the forgotten how true philip they have been cases in the past when fast growing companies with high stock market values have taken over well performing traditional companies to. do too little dilema. sometimes it went well and sometimes it didn't in this case i'm very glad the speculation didn't actually come to fruition before it just. went k p n g did their investigation they flags the issue of escrow escrow accounts and at that time wired quite provided no documentation. on the transfer of the alleged escrow accounts from si

it is not deutsche bank, but it is on the edge of deutsche bank. jonathan: coming up, it :00 a.m. eastern time, we will be catching up with andrew sheets, morgan stanley chief process -- morgan stanley chief cross asset strategist. alongside tom keene and lisa abramowicz, i'm jonathan ferro. this is bloomberg. good morning. ♪ ritika: with the first word news, i'm ritika gupta. president biden will pledge to cut u.s. greenhouse gas emissions in half 2030. that nearly doubles the commitment made under former president obama that was later scrapped by former president trump. president biden welcome being -- biden will convene 40 world leaders. more fallout from the implosion of a kinko's capital -- of archegos capital. the swiss regulator is asked credit suisse to add more than $2 billion of capital. we talked with credit suisse ceo thomas gottstein. >> we are all responsible for what happened. it is now our job to take credit suisse to the next level. as i said, we have a lot of good elements in this first quarter we can build on, and together with the board of directors, we are doi

for you know skulls money and held with deutsche and in 1st break during the pandemic provided time to finally do some recording. or our lease is the 1st album nomads are on lockdown but however enjoyable a project shared between 2 old friends a studio recording can't replace a live performance. learn slowly. to return to the stage finally came in vienna in the full despite rising infection rates in the city having been declared a risk area. and held his 1st opera appearance since the corona virus outbreak varies don't colace at the vienna state opera. one has a special relationship with the austrian capital and he's just recorded an album in vienna this scene is that just as you see and he enters a city i've grown to live. there's no other place in the world where more composers are left and there's so much music about the city but these are still has its positive and its negative sides it's all much of a laugh and joke about it were sarcastic about it but in the end it's clear that everyone loves the city i live in and many have paid tribute to it already in so many different areas a

deutsche bank did say they managed to exit the position without losses. you still putting into question the chance of assets which is still ongoing? >> the transfer is ongoing. basically it is foreseen that by the end of the year this activity will return to us. as long as they are not transferred, the risk is managed by deutsche bank, which they have done very well. >> can you give us any guidance on when you expect the real recovery in the real economy? >> our stance has always been in what we see today in europe given that the vaccinations are ongoing, perhaps around the third quarter of this year there would be a balance. that balance will be a sustainable figure. >> are you worried the french president is exiting the lockdown too soon? >> that is yours to judge. it is basically the tapering off . what we see is that every confinement has been handled even in a better way, so things are contract. annmarie: staying in france, the government says it will ease its coronavirus measures in four stages starting may 3 and all restrictions be lifted by june 3

on deutsche bank. disparity evaluation is there and we are will -- leading first with jp morgan. there is the research call, there's a lot of calls paid -- calls. jonathan: $2 billion of art -- arc egos -- arch egos linked stock -- archegos linked stock. equity futures up on the s&p. this is bloomberg. ♪ >> bloomberg's learned by the 20th anniversary of 9/11, the biden administration plans to withdraw all u.s. troops with -- from afghanistan. the terrorist attack to the invasion that ousted the taliban leadership. the new deadline means the u.s. will leave a few thousand troops in afghanistan past the may 1 target set up by the trump administration last year. european union has unveiled its blueprint to raise nearly $1 trillion of debt over five years. it will use money to fund its recovery from the coronavirus pandemic. it will be in green bonds using a framework to be published this summer. china says the u.s. is raising tensions by sending a group to taiwan. a delegation is being sent. beijing says

that credit suisse has such exposure and sustained such huge losses, when rivals such as goldman, deutschen morgan stanley escaped their exposure with little or no damage? in fact, we were reporting that morgan stanley got out in front of everybody and was selling their shares related to archegos a day ahead of goldman and deutsche. credit suisse did not begin unloading some of its $200 billion shares until later that week. the losses from archegos will virtually wipe out the first quarter profit. juliette: bloomberg's su keenan in new york. let's get a quick check of the latest business headlines. tencent confirmed its biggest shareholder process plans to sell 2% of its stake. the block sale reduces the amsterdam based company's holdings to just under 29%. a 5.5% discount to the stock's last close. prosus is a unit of a company which invested $32 million in tencent in 2001. a chinese backed online grocery start of his said to be waiting a u.s. ipo. the company is making preparations for an offering as soon as this year. its previous funding round raised more than $300 million. rishaad: ju

deutsche bank will allow its u.s. to decide if they want to work from home or be in the office this summer. they will be able to choose whether they participate in the program purely virtually or come into the office three days a week. deutsche bank says they will get the same quality of training whichever method they select. 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'm karina mitchell. this is bloomberg. ♪ >> covid caused everybody to step back from capacity and buildout in the supply chain of the industry, and it produced a radical increase in demand, so you have supply chains scaling back a bit, demand scaling up radically. now we are in a position that there is a meaningful shortage, and it's going to be a couple of years until that's fully resolved. jonathan: wow is the right word. that is the intel ceo on the situation with chip supply worldwide. from new york city, alongside tom keene and lisa abramowicz, i'm jo

deutsche's tech, - deutsche tech com has a tower company.rie: on the towers, you want to merge the tower assets. how doable is that? ramon: improve a business with our own strength. edge computing, tenancy ratios, etc., and then being able to participate in the consolidation of the market. it can be on the domestic markets, and it can be through pan-european consolidation. we will see when and how this happens, but probably, you know, you have too many telco players in europe. at some point, you would probably have a bit too many tower companies. most probable outcome is that at some point, some of these guys will get together and we will be e very well placed with strong assets. manus: we wish you well with that consolidation. if you buy anything, speak to annmarie and i. we have great coffee. ramon hernandez, the ceo and orange. coming up, there is only one man. francine lagarde is speaking to them -- francine lacqua is speaking to him. don't miss it. ♪ >> i think if the market holds up for the next month or so before we get the listing go

deutsche bank emerge from this relatively unscathed. are already in a position where you are reducing reliance on this type of business. do you expect other blowups to come, the likes of which we saw with arc ago? henrik: thanks for having me on the show. i think it's an interesting question. what i and many other risk managers immediately asked ourselves when the news hit the tape is, what are the wider implications to the market? is there more leverage out there? can this derail the financial and economic recovery that we have, the same way that the leveraged funds that blew up in 2000 did? so far, the answer seems to be no. valuations and investor sentiment isn't driven by excess leverage in general. as you have talked about on the show, the factors are central-bank action, excess savings that made it into the market. it appears to be an isolated incident. that's really unfortunate. i don't think it necessarily has that many implications for markets in general. mark: good morning. it won't be the broader contagion here. i'm less conv

we have seen this at deutsche bank going on for a while.is at wells fargo, and we have seen this now at citigroup. so we know that these do not get fixed overnight. what was interesting is wells fargo and deutsche bank, who are two companies that have been in a multiyear process of upgrading their risk and control system and their culture, came out was immaterial losses. lisa: when we talk about credit suisse, we are talking also about what happened with green sill capital and the collapse there. a story on the bloomberg talking about credit suisse may let clients take losses on those funds. i am just wondering the liability that trickles out here , not only on a legal standpoint , because i'm sure there will be plenty of litigation, but also from a reputational risk. how much more capital could get withdrawn from this bank that is perhaps not fully princeton or factored in at this point? alison: we are worried about the big capital it, but it is more than that. we could say that wasn't for this big hit, they had these great fundamental ear

donny deutsch, you proved to be right.y do. >> hey, guys. great to see you, nicole. professor steele. always great to be here. if you're looking at a five-year business plan, here's what they're looking at in their businesses. they're looking by the year 2021, do i look foggy? something wrong or is it just my -- >> a little bit. do you want to wipe your -- you look a little foggy. give a little wipe. >> all right, just a little wipe here, okay? >> live tv in the time of zoom. >> okay, yeah. >> all right. >> you know, they're looking at five-year business plan. >> it's better. >> nicole, i'm sorry. you have such a great show and i always come on and it goes off the rails a little bit, you know? you got serious people like professor steele on, and i -- i just -- >> trying to figure out how he looks. >> love it. we're all trying to -- we're all trying to wipe our zoom screen, donny. you're all of us today. >> we're looking at five-year plans and they see in their plans that by the year 2027, half of this country, half of the

he said credit suisse is being fair of deutsche bank's incompetence and scandal. really looked on a tough look on the hedge fund community, and people who are borrowing from banks. kailey: any other headlines from your conversation with carson block? sonali: one will -- one thing i asked is will anything change? we asked the same thing with gamestop. he said memories are short. at some point, there will be another one. things will probably go back to normal. a lot of the reasons these issues come around is because you have a new generation and they forget what happened. kailey: short-term memory loss apparently. sonali basak, thank you so much,. covering all things wall street coming up, a new suv in town. we will discuss the newest member of the company's electric lineup. it is a hummer. this is bloomberg. ♪ kailey: this is "bloomberg markets." i'm kailey leinz. today, gmc is unveiling its new hummer easy suv, expanding its electric truck lineup with production beginning in early 2023, and a hefty price tag. joining us is dmc global vice president duncan aldrin -

deutsche bank has posted its strongest quarter in seven years and has raised its outlook.ed income traders outperformed most of their peers on wall street. income from buying and selling debt securities rose 34%, and deutsche bank avoided losses from the collapse of archegos capital management. 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'm ritika gupta. this is bloomberg. ♪ ♪ >> we are talking about a tax change that would affect the 3/ 10 of 1%, the top sliver of households. jonathan: that was brian deese, national economic council director. you will hear a lot more on this when the president addresses congress this evening. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here is your price action as we count you down to the opening bell two hours and about 12 minutes away. equities advance a little more than 0.1% on the s&p. the nasdaq just a little softer, down eight on the nasdaq 100. yields higher by a couple o

i know you look at the deutsche bank story this morning. tom: you've been out front on this.ou've got to believe there's an adjustment. to me it is critical, and we are really at support on the latest range to break out of this ever lower, ever weaker on dollar would be remarkable. jonathan: i think it would not be unusual to see a big move. does it take us through $1.25 towards $1.27? possibly, tom. tom: right now on streaming, on netflix, paul sweeney is the founder of bloomberg intelligence. i work with him every day on bloomberg radio. really quite good at the measurement of securities analysis, and particularly on the nexus of content is king and our distribution as well. what do you expect from netflix? paul: i expect pretty good numbers. this is going to be a tough quarter for them with really tough comparisons, when you think about where we were a year ago at the beginning of the lockdown. that is actually good news for netflix because people were stuck at home, all binge watching anything we could get our hands on. they had a huge growth in subscribers the first and

[laughter] tom: i just hit deutsche bank. i can't remember. it was 0.33, but i can't remember now.iterally a quarter of the value. jonathan: it is insane, the difference between europe and the united states still. tom: i am so rattled by coinbase , i don't have the price-to-book memorized. jonathan: i wouldn't expect you to, tom. should we go to emily wilkins in washington? tom: emily wilkins, our government reporter. emily, after what we saw yesterday, what will you focus on this morning? maria: -- emily: there's the troop withdrawal from afghanistan. there is the report that came out last night about january 6 and the riots, and that impacts government spending. i think going back to afghanistan again, we will have to continue to watch how lawmakers are responding to this. you are seeing divisions within the democratic party. progressives are applauding bidens commitment to removing troops by september 11, but you are seeing more moderate democrats who are little bit concerned with this timeline. lisa: the new cycle is moving so fast -- the news cycle is moving so fast that we ar

deutsche bank has repeatedly said it wants to cut costs by reducing office space.st business flash. guy: coming up on "bloomberg markets -- coming up on the european close, hannah gooch peters, sanlam investments global equity investment analyst. we will find out whether europe is the place to be parking money. a lot of people saying that is where you should be paying attention. u.s. investors in particular want to pay attention to this narrative. that's the conversation for the next hour. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. ♪ guy: from london, i'm guy johnson. alix steel is over in new york. we are counting you down

what happened on friday that drive in opposite directions honey well got an upgrade from deutsche bankeing disclosed a new electrical issue with the 737 max. the plane that got approval to fly again six months ago the last thing you want to hear. >> sell, sell, sell. >> the stock was down 1%, i thought it would be down 5%. tells you everything you need to know about this one. boeing has too much going for shareholders to get spooked by a bad headline i'm going to go one step further. i think both stocks are buys right now, believe it or not, boeing is pure stock over the next six to 12 months. hey, don't laugh at this we'll stick with honey well for the travel turust, too. with short term turbulence, boeing is positioned as the great reopening goes into full swing. today's decline on research about corporate governments as a non-issue. down $3, let's just say. >> buy, buy, buy. >> let me walk you through friday's action to explain what makes honey well so terrific and why boeing is better we'll start with honey well. a power house with exposure to aerospace, specialty chemicals, safety

for your own us count money and hellmuth deutsch and in 1st break during the pandemic provided time to finally do some recording. or our lease is the 1st album 9 manager in lockdown but however enjoyable a project shared between 2 old friends a studio recording contra place a live performance. was. the return to the stage finally came in vienna in the full despite rising infection rates in the city having been declared a risk area. held his 1st opera appearance since the corona virus outbreak very nice don't tell us at the vienna state opera. one has a special relationship with the austrian capital and he's just recorded an album in vienna this piece i just at the museum he enters a city i've grown to live. there's no other place in the world where more composers are left and there's so much music about the city but these are still it has its positive and its negative sides so much we laugh and joke about it we're sarcastic about it he says but in the end it's clear that everyone loves the city i live in and many have paid tribute to it or did you in so many different areas and melodie

until his death peter deutsch still around germany's 1st test institute for vintage cars and specialized in expert opinions on $911.00 it's. the 356 porches 1st series model was also the basis for the 911 by the mid 950 s. porsche had already begun developing a successor the 356 had become too slow. the aim was to build in cutting edge technology without compromising the basic shape. because the old model was very popular with costumers. the criteria for the new model were formulated by alexander porsche known as. the sword to do it this or it should be immediately obvious from the silhouettes of the car that it's a porsche. and i believe that if you think about design you come to one conclusion you can always add modifications but you can only make them when the original has become obsolete. so you have to make the absolute best out of the minimum. at the time. was chief designer work development. along with puts seen here in the middle of the picture he was instrumental in the design but exactly who can claim the credit for the design of the $911.00 remains a matter of contention. it w

russia's foreign ministry spokesperson tells the security deutsch why e-file years have damaged the inoculation campaign.

until his death peter deutsch around germany's 1st test institute for vintage cars and specialized in expert opinions on $911.00 it's. the 356 porsche's 1st series model was also the basis for the 911 by the mid 950 s. porsche had already begun developing a successor the 356 had become too slow. the aim was to build in cutting edge technology without compromising the basic shape. because the old model was very popular with constant errors. the criteria for the new model were formulated by alexander porsche known as bootsie. this sort of this or it should be immediately obvious from the silhouettes of the car that it's a porsche. and i believe that if you think about design you come to one conclusion you can always add modifications you can only make them when the original has become obsolete. so you have to make the absolute best out of the minimum. to move. at the time. was chief designer work development. along with the scene here in the middle of the picture he was instrumental in the design but exactly who can claim the credit for the design of the $911.00 remains a matter of cont

for you on us counts money and help with deutsche and in 1st break during the pandemic provided time to finally do some recording. or our lease is the 1st album 90 down but however enjoyable a project shared between 2 old friends a studio recording can't replace a live performance. there and slowly. the return to the stage finally came in vienna in the full despite rising infection rates in the city having been declared a risk area. held his 1st opera appearance since the coronavirus outbreak very nice don't tell us at the vienna state opera. a. man has a special relationship with the austrian capital and he's just recorded an album in vienna this piece i just as you see and he enters a city i've grown to live. there's no other place in the world where more composers are left and there's so much music about the city but these are still has its positive and its negative sides so much as we laugh and joke about it we're sarcastic about it but in the end it's clear that everyone loves the city i live in and many have paid tribute to it would be in so many different areas and melodies so

different to the usual character of trade shore's trade shows and we asked a yahoo cutler chairman of deutsche a message which organizes the hand of a trade fair how companies are promoting themselves without the help of such events absolutely it's a real challenge for everyone to think about a situation that is not all where you in why are your clients and hopefully new clients from many countries you need a bit do you think about how to organize movie or a life stream to come when it's your clients if you have the best product so that is a bit like the olympic games not on your own intuition also on presenting in a new digital form that is really great and we're all here in the book to learn to understand what is really a real world you add it to a business and so we're we're delighted how encouraged our exhibitors are and i have today a lot of positive feedback so that we do this show in this way the pandemic tongue . finally just weeden where the pandemic means the rave scene is in the a shadow of what it was and its ninety's heyday however it's at least trying to make a comeback a club in