deutsche bank exited the equities. they have grappled with the restructure of deutsche bank. exiting the equity strategy and upgrading and leaning in, to use your phrase come into the investment bank. take your mind and let's flick it across into ubs. ubs ramped down the scale of the investment bank, integrated that into wealth management, making it a much more integral for, and this a discussion is about when with the two institutions be at a comparatively equitable level to join one another in the sanctity of marriage? that comes -- in this entity of marriage? deutsche bank could begin to re-accelerate. annmarie: we are going to be speaking of course to the cfo, looking forward to that conversation. the deutsche bank cfo will be coming up in 30 minutes time, 6:30 a.m. london time. james. coming up. we should note to our viewers that we have a great one regarding deutsche bank to take us through the numbers and simply game highlights before those numbers drop with the german lender. manus: i like your phrase. the pregame highlights. let's talk about the ceo. many people in 2

so much focus on deutsche bank. know tom has deviation for the share price and will ask you whether goes bust, but how is trading momentum going? adco trading momentum is kind of the whole story behind what be saving this thing from going bust. it is ironic, is because the ceo was really to lead on the corporate lending business, which because of the pandemic but because of the interest rate regime in europe, has not been a good bet at all. most importantly, for today, just can't be underestimated how important it is for understated how important it is this bank has finally made an annual profit. in germany, it his honest a national sport for the people to hate -- i must a national sport for people to hate deutsche bank. that not made money since 2014. finally, a prophet for the full year. -- a profit for the full year. francine: do shareholders believe them? they seem to be questioning whether this is really a turnaround story at this point. matt: it has increased, the share price, not by much but by a view cents o

and deutsche bank's debt trading jump outpaces wall street. the bloomberg school ahead. -- the bloomberg scoop ahead. we will get into the deutsche bank story shortly. excuse the pun, shortly. depends on which chart you choose. traders are covering, running for cover. crashing to 39%. is that the beginning of a big unwind? the stock draws down by 31%. is this when they knock into the retail investor? will fundamentals prevail? annmarie: it is interesting. gamestop is trading above its 50 day moving average. an absolutely stunning ride. we saw the #gme to the moon. yesterday, that hit another roadblock. cme saying they want to up the collateral. you have gamestop and amc. it was the brokerage that had to up the collateral. silver down 1.5%. trading around $29. look at the futures market and asian equities, we are back to regularly scheduled programming in terms of the narrative which is vaccines and fiscal stimulus. manus: you have the biden bid in terms of being bold and big regarding stimulus and the data. that is what matters for velocity. i

that had internal turmoil as well so that they're not passive type in terms of like deutsche is at the moment a lot of reputational issues hanspeter berkoff from the university of holland i'm thanks for joining us. there are time now for a look at some of the other business stories making the news dima plans to split itself into the stock got automaker says it will spin off its truck and bus operations into a new company to be listed on the frank stock exchange the remaining business will house its car operations and be renamed the sadie's benz. the e.u. and the u.k. are looking into nvidia's $40000000000.00 acquisition of british chip designer arm competitors say the company will have an unfair advantage arms chip designs are widely used by apple samsung and other smart users. now every day tens of thousands of people from the czech republic cross the border into germany for work many of them are employed in industry or in the health care and hospitality sectors but coronavirus restrictions are making the crossing a lot more complex. 7 in the morning in fulton violet on the czech germ

it was interesting to see what happened at deutsche bank. also worth noting that while we have been talking, gamestop continuing to the -- continuing to decline. this time last week we were in the mid for hundreds and now we are at 73, 78, 94. we are down quite sharply as you can see, an amazing move up and down. fascinating to see what is going on and it will be interesting to think about that as we run towards the meeting that will be taking place. consumer protection, is that something janet yellen wants to deliberate. the treasury secretary calling a meeting. we'll talk about that next. this is bloomberg. ♪ ritika: this is "bloomberg markets." coming up, t-mobile u.s. cvo joins bloomberg technology at 5:30 p.m. in new york. this is bloomberg. let us check in on the first word news. president biden is drawing a line in the sand on his coronavirus stimulus proposal. he told house democrats that he will not back off the plan to send $1400 checks to millions of americans. he says he is opening -- open to tightening the eligibility. republica

and deutsche bank's debt trading jump outpaces wall street.erg scoop ahead of thursday's results. good morning and welcome to "bloomberg surveillance." as always, tom and francine from london and new york. we look at silver, gamestop, and we also look at pound because we spoke to jane foley yesterday, and that was the beginning of a more police bet on pound, and this has everything to do -- a more bullish bets on pound, and this has everything to do with the vaccine rollout. tom: we will cover that today, but, francine, have futures up 33. we will do a data check. with it, bond yields up,

deutsche bank -- greenback gains power. deutsche bank posted its first annual profit in six years.mes: we did see the positive momentum continuing. year on year growth in fixed income was 21%, 28% in the investment bake last year in the fourth quarter. we have seen that momentum carried through to the first few weeks of 2021, which is encouraging for us in terms of the outlook. >> so it's a similar growth rate? james: i do not want to speak to the specific growth rate. one month does not make a quarter but we are encouraged from the science. >> how is the outlook -- signs. >> how is the outlook for the full year in fixed income trading? james: we do expect a normalization of the market environment in 2021. the very high levels of 2020 were not going to be sustainable. i saw a moderation of volatility, very lightly a moderation of financing activity. on the other hand, we are seeing strengths in a number of different product areas. i would expect, for example, m&a to pick up this year. it has been a very vibrant equity underwriting year this year so far. there is also arguably a rot

francine: that was bloomberg's daniel schaefer speaking with the deutsche bank cfo.draghi has agreed to form italy's next administration. the former ecb president faces a deep recession and an unprecedented buildup of government debt. it is a situation with mirrors -- which mirrors the situation by the prime minister. in 2000 -- i am very pleased to be joined by mario monti, president of -- university, an italian senator. he served as a member of the european commission, in charge of internal markets, in 1995, and was italy's prime minister from 2011 to 2013. thank you for joining us. what would be the number one piece of advice to mario draghi today? mario: simply to be himself. i think it is more important to be advised to the italian political parties, which i did come in an article in -- an article this morning. unlike the impression of the political part this may have -- or i say each of them. it will be convenient, it will be a wise move to take part in the majority because not only is there a sense of responsibility toward the country at a difficult time, but

what is this telling us how well deutsche bank has done?s an important part of the story for deutsche bank. the debt trading unit is the biggest revenue engine for the bank even though the ceo has been trying to grow other parts of the business to wean the bank off of its reliance on debt trading revenue. it increased that revenue under his tenure. the boost from that business is important for profit. anna: put this in the context of the broader turnaround. steven: you may remember in 2019, almost a year ago, they unveiled a restructuring program to cut 18,000 jobs. many of them, he chopped the entire equities trading unit and said he would grow commercial banking and retail banking -- that has not panned out. debt trading has become a bigger part of the bank. for them to show consecutive growth and market share gains is a strong boost. anna: a lot of people want to know if the recent gains will be replicable, sustainable, what that says about visibility -- i guess that will be a focus when we get numbers from the company. when do they come

deutsch? >> thank you, mr. chief justice.d may it please the court, this is an apa case about whether the agency engaged in reasoned decision making. the government agrees nalts promoting broadcast ownership by women and people of color has long been the commission's own public interest goal, one that is fully consistent with the statute and is not a command imposed by the third circuit. the government also agrees that the agency must reasonably weigh all competing aspects of the public interest that it has identified in its quad renial reviews. the before me here is that the reconsideration order fails this basic requirement of administrative accountability. base he had on zero information about for me many ownership and the non-sensical analysis of badly flawed data on minority ownership, the agency repeatedly assured the public that consolidation would do no harm to either. the government now adds for deference. it says the uncertainty was acknowledged. prediction is hard. and it argues essentially that ha: was nothing to

deutsche bank's all revenues from fixed income trading rise by roughly 20% -- deutsche bank saw revenues trading rise by roughly 20% in the last quarter. it is increasingly leaning on the unit to drive growth. that is your latest business flash. alix: thanks so much. i think it is worth reiterating that because i was a little surprised. fixed income trading was up 20% compared to 10% from the big wall street banks here in the u.s. the question always is, is this the top? can it continue? what else is there to support growth? guy: they are strong in fixed income. i am sure that is helping with the numbers. but nevertheless, the focus seems to be moving to equities, and that is where the european banks aren't so strong. that is something that i think is going to start showing up in the next few quarters. i thought it was fascinating that goldman sachs is locking in a bunch of very successful traders on their portfolio trading desk just because the banks are relying on these businesses so much at the moment. i think bnp paribas is out later on this week. it will be interesting to see what t

jonathan: you talked about the deutsche bank transition. i am taking it seriously.ave a little stubble. jonathan: it is allowed here bank. thanks. torsten slok, apollo management. we thank lloyd blankfein for making it ok. lisa: trend centers of wall street. jonathan: just to groom. tom has this right. clean shaven. lisa: style tips with jonathan ferro. jonathan: you can shaven still be unkempt, you know what i mean? you can wear a suit five sizes too big. lisa: we are going there again? ♪ top -- jonathan: tom once rid of me. citigroup's tobias lefkowitz on bloomberg tv in about 20 units on the open. i have to go. this is bloomberg. ♪ ritika: a group of 10 republican senators will present their coronavirus stimulus plan to president biden today. republicans have rejected the president's 1.9 joint dollar proposal and the plan being laid out today calls for spending less than one third of that. the president has said he hopes the sides can negotiate a bipartisan deal. former president trump has named two trial lawyers to represent him in his impeachment trial. the pre

pretty profitable for deutsche bank for quite a while the outlook for. germany's 2nd biggest lender is not as rosy the bank is said to cut $10000.00 jobs about 20 percent of the workforce no wonder that in an internal survey of core employees only 20 percent say they're optimistic about their future. every day tens of thousands of people from the czech republic cross the border into germany for work many of them are employed in industry or in the health care hospitality sectors coronavirus research and so are making the crossing a bit more complicated. 7 in the morning in fulton violet on the german border. is on his way to work in germany to enter the country he has to show a negative corona virus test every 48 hours his appointments are made online the tests done in a former customs house were not allowed to film inside. there a doctor takes a nasal sample to see if year e. is dealing with a corona virus infection. after a 20 minute wait relief comes in the form of a text message on his phone. i open it up and say i'm negative now i can get into german

deutsche bank is cutting back its bonus pool.ermany's largest lender had originally planned to pay out around to play $5 billion but says that is being scaled back after talks with the ecb. the central bank says it no longer objects to the payout. there have been no comments from deutsche bank or ecb. tying executive bonuses to diversity and inclusion. along the information -- among the information will be a full break down. mcdonald's is also looking for a more equity -- equitable policy in its senior ranks. coming up next, a clampdown on lng. we have the latest. this is bloomberg. ♪ host: we do have breaking news out of japan. we are getting the january pmi inflation numbers. it is coming that are than expected in terms of disinflationary pressures on the japanese economy. a deceleration of 0.6%. it was expected that disinflationary pressures would contract the number two 0.7% in january. the core pmi numbers -- the sixth consecutive months of disinflation. at least the pressure is easing from the previous month of december. it

and doral resort in miami that have big deutsche bank loans and all of them are doing poorly in parthe covid virus has slammed the tourism business more generally. more investors think i don't want to buy the property. i want to buy the loan. i could get the loan for cheaper and if trump doesn't make the payments i could foreclose on it and get the property for cheap. there's a lot of steps on the way before you could do that. deutsche bank has to be willing to sell the loans, trump has to default but a lot the investors say that's the best play is to buy the loan, not the property. >> interesting. you covered another article about trump's legal team that they've turned over his tax returns to the manhattan d.a., after the supreme court of course ruled against trump keeping them private. what exactly is the district attorney looking for? >> i guess wonders of being a prosec prosecutor, you can look for pretty much anything you want. the manhattan district attorney is looking far and wide at all aspects of trump's business, different properties, valuations, their tax valuations, viola

still going forward, because of how strong an expectation beatings it has been, deutsche bank says thate more cyclical sensitive sectors, europe, the yen, we can see the big turnarounds. i talked to one hedge fund manager who said europe, u.k. is so cheap now. you have to go in and buy. annmarie: christian gallagher caught up with us earlier in the program. pe said why is everyone worried about inflation? time to worry about missing out on this bull run. that is it for daybreak europe. coming up next in european market open. earnings season continues ramping up. meant for you including interswruse the cocaine of mersk and heineken. we're seeing risk on this thursday morning. this is bloomberg. ♪ this is bloomberg. ♪ anna: welcome to "bloomberg markets european open." matt: good morning. the markets say bet on the gain train. stocks set to rebound from tuesday's losses. tencent fuels a rise in hong kong. platinum hits a six-month high -- a six-year high.

up another .5% on the s&p 500. 3950 is the rent forecast at deutsche bank.finition of forecast cannot be wrong. it is a forecast. it gives you an idea of how bullish things have gotten. equities all-time highs. yields post pandemic highs. you get the picture. stocks could move higher. credit suisse has written about that. they think you can continue to get that move. the 10-year gilts through 1.20 -- the 10 year yield through 1.25. 30 year yield north of 2%. if yields are driven higher by inflation expectations, what does that mean for the dollar? at the moment weaker. euro-dollar back to 1.21. just about positive on the session. dollar weakness so far. ebbs away in the last hour. tom: well said. that is just where i was going to go with dxy 90.34, fractionally weaker. euro stronger against yen as well. let's get right to it. lewis alexander joins us with number of to recalibrate -- with numera. how does central bank change their communication when their perceived facts change? what we expect from the powell fed? lewis: when they have greater confidence abou

american is worth $23 a piece according to deutsche bank.s. they will get $15 billion from the government. the airlines need the money, want the money. we're not traveling again yet. up they go. but they have gone up before on the promise of government money only to fall back. susan: i think this time deutsche bank is making it clear this is about travel recovery whether $25 billion in aid in the summer or $15 billion this time around you have to get people and passengers in seats. that is probably the most important part for the airline survival. the fact we're looking at stocks gains. that requires more traveling and actual ticket sales. stuart: okay. let's move on to bitcoin. i know that it hit 58,000 bucks a coin over the weekend. it is 53,000 now. what is going on, susan? >> bitcoin prices are falling back. with were at 51,000. we bounced up 2,000 in 30 minutes. that is how volatile bitcoin is but don't forget we were close to crossing 59,000 just yesterday on sunday. now elon musk, you would call him a crypto crusader, i call him a cry

this is a fixed income side that has kept deutsche bank on the rails. more on that in a moment. big day for european bank reporting. credit suisse and barclays out today. our take on what you want to do with bank credit, next. this is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones,

we know they have subpoenaed at deutsche bank which i subpoenaed at deutsche bank which has been _ subpoenaedese buildings that they are looking at. these buildings that they are looking at-— these buildings that they are lookin: at. . , ,, , looking at. the thing that strikes me sittin: looking at. the thing that strikes me sitting over— looking at. the thing that strikes me sitting over here _ looking at. the thing that strikes me sitting over here in the - looking at. the thing that strikes me sitting over here in the uk i l me sitting over here in the uk i know thatjoe biden wasn't keen particularly on the impeachment trial did the near prosecutors feel that they have a free rain here to do what they want or is there poetical element to that? is there someone bringing down their neck saying we don't want to make a martyr of the former president? i think it is a little bit different because _ think it is a little bit different because this is a state investigation. so cyrus man's junior. — investigation. so cyrus man's junior. the _ investigation. so cyrus man's junior, the manhattan distr

there have been no comments from deutsche bank or ecb. -- the standard model three now costs $37,000. the model y, is under $40,000. musk was told the models were too expensive. they are working on a car that costs just $25,000. rishaad: let's turn to the world's largest cryptocurrency. the recent bitcoin surges are only the tip of the iceberg. the mass adoption of cryptocurrency is just beginning. >> this is the thing about crypto -- there is no fair value. we just have to represent how much wealth of the people using it. if you look at the market, only 11 listed companies have announced they are holding cryptocurrencies. we are seeing a small number. if you look at individual holders, i think we are reaching 1% adoption globally. i think that is somewhere around 200 million users in crypto right now based on a rough guess. that is probably less than 1% adoption. number two, the crypto markets should be larger than the fiat market. with cryptocurrencies, there is a lot more use cases possible. this is similar to the uber market size. com

deutsche bank is keeping the restructuring plan on track with a 17% jump in fixed income. is that sustainable? we will talk more about banks in a moment in global chips or outages continue to -- shortages continue to wreak havoc. demand is outstripping supply, driving strong growth at that german company, again that story we will come back to. let us show you what is happening. equity markets actually looking ok so let us talk there first. up i .1%. -- up by .5%. the real action has been the bond markets, the u.k. curve steepening and the european curve broadly flat, but where the foreign exchange markets has gone is really worth paying attention to. you had the euro-dollar breaking 120 and that is a big moment. are we going to get back to the november levels, so the euro-dollar 11958 and we are close to that level, then you look at euro-sterling. sterling continues to get a boost. maybe this is the bank backing off negative rates. the other one is the vaccine rollout story, certainly continuing to drive the focus towards the u.k.. what is happening on your side? alix: her

i'm wondering, does it remind you of the deutsche bank turnaround story a little bit in some ways?alison? alison: i guess the parallel could be that they have both been sort of a long slog, but i think in many ways, there are some key differences. i think for wells fargo, there's no change to the basic business of the bank, and i think they were competitive in that business, but both banks did have some sizable lapses in terms of risk management. i think for wells fargo, aside from the numbers that sonali says they missed out on in the past several years, i think for them it is sort of an opportunity missed enters of the huge deposit growth we have had this year, something that they missed out on. that doesn't necessarily add to earnings today, but for the next several years. does this somehow make them less competitive in the market? for deutsche bank, it is similar that trying to fix their problems also makes them less competitive, but i think there are some challenges there, just in terms of they've really had to make a lot of changes to the overall actual business line they are

deutsche bank survey to potential recipients.said they put 37% of that stimulus straight into the stock market. that could be a huge windfall for stocks, definitely something you want to keep your eye on, especially as the volume has just exploded. we've got a chart showing 1090. showing how high the volume has gone in the markets. it has just jumped way over what we saw happen on the vix. something that you want to keep your eye on as well. let's get more insight on what is happening in retail trading in today's selloff from our markets reporter, pretty cooped up. talk to us first about the relationship between rates and the stock market. every stock is headed down big time as these rates are exploding. kriti: it is the idea about the trading tantrum pair that is dragon the market down. that is also in tandem with the bond you are seeing selloff. you pointed out, you are seeing a global bloodbath when it comes to fixed income. really tells you growth stocks in general don't do well when yields rise the way they are rising. the m

high of 330/share, and deutsche bank is saying that it believes that square was a recovery play lastven bigger in 2021, and they cite bitcoin to be a promising area, and the fintech area cash app and they are looking at the profit growth the reach as high as 85%, and the new price target implies nearly 20% upside from here you can see the shares of square up 700% from the year low, and down a little bit today, but bob, bitcoin, cash app, and that is not what square is at core. i mean -- >> no. >> is that the reason to be excited about -- >> well, it gave -- >> tell me. >> it is not what square is about, but you have to admit, it is helping to drive the whole thing to bitcoin. first off, you had the pandemic driving. then you had stimulus driving spending overall, and just look at the payment apps in general. not just square, but paypal or venmo or western union all doing bigger here, and by thinke eers- big thinkers, and we just had on cathie wood, and one of the biggest holdings is square. and so it is also holding in the next generation internet fund that she has as well, and so pe

i mean deutsch. the end of any chance have been dating. for that is for france and so it's this finished it in the side at. the front the other called more. this is. under for. the premier in the spring yes he met. a boy who cried nic now about the name of the. chipman. that's my to. when i'm good that i. might have meant to this. day not a bad line when she's. on the go you know none mention . the killing of 9 people and central germany was one of the worst far right attacks in recent years but it wasn't the only one senate talks have been attacked politicians assassinated and today their weekly press reports of new nazi cells and the police on military. and the government says extreme right terror is the number one threat to germany. god isn't. the stock of. the f.t. or atena t.v. . is germany's 3rd largest political party they are openly anti migrant and since they were founded in 2013 figures show that numbers involved in extreme right groups grew by more than a 3rd and far right doubled peaking at 27 every day in 2016 and have remaine

it was deutsche bank and then ladder capital that provided him with the almost the entirety of the loany owed -- or that he currently owes. he does not have significant cash on hand, other than the money that he's managed to grift from unsuspecting republicans into the 200-plus million dollar range, which to me, i don't understand, and if any of them are watching your show, i would implore them to stop, because the man is a grifter and basically all he's looking to do is to take their money and to put it towards his obligations. but what's really going to be his downfall is once they start to go through the tax returns and they start to see all of the tax evasion and other improper tax manipulation that was done, what will happen is there's also a fraud -- a tax fraud penalty that will couple with the amount that he basically owes the u.s. government, the state, and the city of new york. it's a very significant fine. he'll have to start selling off assets, and remember, when you start selling off assets, you also have a taxable consequence because its basis is so low in so many of them.

a look back at better days the same place in 2019 just 6 were performing as part of deutsche and ellis campus project which promotes cooperation between young musicians from around the world acapella group c.l.a from lives he sang with the guys from johannesburg. this was a very special collaboration mostly because we're bringing together 2 different type of cultures to different types of styles of a capella sing they developed a repertoire together 1st in south africa and later in germany. it was a great exchange in hearing what they do and then very what you do and i asked trying to put that together. be able to create something which for me sounded new. just like giving birth to. a whole new brand new born baby the project culminated in a performance at the beethoven fest in bonn together with the national youth orchestra of germany. i. we were even having plans of saying they're going to 20 probably we can meet again and do another tour somewhere else in the 2020 why and because that's what it looked like and then in 2020 covert 1000 happened in the end everything just went. since

a look back at better days the same place in 2019 just 6 more performing as part of deutsche and ellis campus project which promotes cooperation between young musicians from around the world a capella group c.l.a from live so you sang with the guys from johannesburg. this was a very special collaboration mostly because we're bringing together 2 different type of cultures to different types of styles of acapella see if they developed a repertoire together 1st in south africa and later in germany. it was a great exchange in hearing what they do it the imagery of what you do and as trying to put that together. being able to create something which for me sounded new. just like giving birth to. a whole new brand new born being the project culminated in a performance at the beethoven fest in bonn together with the national youth orchestra of germany. i. we were even having plans of saying that you know in 10 to 20 probably we can meet again and do another tour somewhere else and in 2020 why and because that's what it looked like and then in 2020 covert 1000 happened and then everything just

. $219.00 just 6 were performing as part of deutsche and ellis campus project which promotes cooperation between young musicians from around the world a capella group c.l.a from live so you're saying with the guys from johannesburg. this was a very special collaboration mostly because we're bringing together 2 different type of cultures to different types of styles of acapella suggest they developed a repertoire together 1st in south africa and later in germany. it was a great change in hearing what they do and then jerry what you do when asked trying to put that together. be able to create something which for me sounded you. just like giving birth to. a whole new brand new born being the project accommodated in a performance at the beethoven fest in bonn together with the national youth orchestra of germany. we were even having plans of saying there you know in 10 to 20 probably can meet again and do another tour somewhere else and in 2020 why and because that's what it looked like and then in 2020 covert 1000 happened and then everything just went since then just 6 have been restricted

let's bring in our financial correspondent in frankfurt comrade buzan and let's talk about these deutsche of bank results because now after 5 years of net losses now profit how they've done it well they have cut losses of course they have really been quite successful in their investment banking units and with the ongoing volatility on the financial markets with high trading volumes it's likely that investment banking will remain. pretty profitable for the bank for quite a while corporate banking well the performance there will depend a lot on the continuous impact of the corona pandemic on the economy and on the business of those events customers alice a very hesitant to make precise forecasts just as they found it very difficult to predict what kind of result bank would come out with today or can they keep it up. as a city under lockdown frankfurt had hoped for some good news but its major banks have delivered mixed messages this result season one of the bright spots bank its 113000000 euro net profit for the year 2020 is a sign of light at the end of the tunnel after years of struggling

and so, donnie deutsche, i'm curious what your thoughts are.t that the senate republican leader said that donald trump made unhinged unconscionable behavior and was morally responsible for the insurrection and even had his own words quoted by joe biden. was that significant that he said that regardless of his vote? >> i think it was very significant. one thing, whether you love mitch mcconnell or hate mitch mcconnell, he is a transactionalist. you talked about a political poll. there is a quinnipiac poll that says to republicans, do you want donald trump to play a prominent role in the party. 60% of americans said, no, we don't want to see donald trump again. that's clear that donald trump is a loser. joe, you point this out over and over again. since he showed up, he lost the house, the senate, the presidency, lost governorships. a republican party that is branded a trump party is a losing proposition. mitch mcconnell understands that. republicans don't understand that so far. and they will have to go through another election cycle of losing t

republic to stop the spread of highly contagious coronavirus variants detected in border regions deutsche bahn has suspended rail services to and from affected areas and police officers that front for their ports and checking passengers arriving from vienna and from prague the european union has criticised the shutdown which is causing major disruption. very little has got through this checkpoint at the austrian german border since early sunday many drivers trying to cross from the austrian state of t. hole were told to turn around unless they work in a very limited number of jobs classified as essential it's much the same situation at the german check border. bernie been harping about how we have ensured that testing is available for anyone who is eligible to enter but who doesn't have the results of a covert 900 test it. and through the field we have and continue. it's a difficult situation for commuters some are even considering temporarily moving to germany and they say the changes to the rules were badly communicated with you and we have no information we don't know a thing can we dr

i'm from this deutsche i was just fascinated by the german jewish cultural heritage and all its written works. fine. and i wanted to take all these books that had been banned tracked down burned and destroyed. and help them find a home again hi martin today it's the victim's grandchildren and great grandchildren who are reexamining history and authors like ameena garlic who see the past from new perspectives. these again about so on how to do this generation has not had to have the same confrontation we had with the children of the perpetrators and coming to terms with the past is no longer present in contemporary literature to the same extent for one. still the traces of this horrifying chapter in german history can still be seen across munich along with memorials to the victims the past costs a long shadow. because. the minds and hearts and you know you can't wish away history in this city it's in every house in every single family and it was very important to me that when it came to my children jewishness is much more in just this part of history. alexander that man the son of russia

market went ballistic obviously gold 'd went from one to one ratio against the the rice market the deutsche mark at that time it ended up heading to a trillion to one the. people who are owning gold certainly were protecting themselves but there seems to be a mad dash in speculative for fervor and things like stocks and and property and the. and this is how people are sensing it is a true mark that hyper inflationary collapses really loss of confidence and the and the currency that's what it's really not a economic phenomenon some. people just lose confidence in the money and they're like you know what this money is i worth anything and they try to get rid of it as fast as they possibly can isn't this rally in the stock market kind of pointing to this or speculative fervor people are the stocks are certainly inflating at a rate that would suggest that people have lost confidence in the u.s. dollar mark you're right and the great movement from isa's coked excepted this phenomena cutlass to the most in the horse kind of catastrophe food market and i think in that sense we are seeing some some

i know deutsch. i'm going to read each answer but. that is from france and so it says finished it. at. the front the i will quote more of. this is. under for. the premier in the spring he met. our boys are trying to move the. sure. that's why it's a top. down line of. all. she's. on the. known mention. the killing of 9 people and central germany was one of the worst far right attacks in recent years but it wasn't the only one senate talks have been attacked politicians assassinated and today their weekly press reports of new nazi cells and the police on military. and the government says extreme right terror is the number one threat to germany god isn't going to.

also joining us donny deutsch.tle made public and certainly no public press briefing by capitol police. just talk about this development that almost three dozen are under investigation. >> shocking, nicole. i will say this. i am in the capitol now. i was here january 6th as we've talked about many times. i am shocked that the capitol police said nothing about this, but at the same time not shocked because they are the least transparent police organization, police department that i have ever been involved with or covered or interacted with. they are not ub subject to open records requests. let's say someone was arrested by the capitol police and i as a reporter or anybody as a peb of the public wanted a report to find out what happened, you could not get that. so we will be waiting with bated breath to hear the police chief next week at the house appropriations committee to talk about this. i will say that there are a lot of people who want answers. we have gotten none so far. i can tell you that there are members o

taiwan is penalizing deutsche bank and three other foreign lenders amid speculation.iwan dollar forwards is revoked and the bank is banned on working on -- for -- citigroup faces a two-month penalty. speculation on the trading of grain. rishaad: what a difference a year makes. 12 months ago, softbank's vision fund was losing billions and mush ioc's on was scaling -- they were scaling back. there could be a record quarterly. our reporter is on the line from tokyo. the earnings just over an hour away. what will you be looking for? >> we have a couple more hours to go before they land in tokyo. but you are right. the various softbank investments are the key focus. this company has pretty much completed a transformation from an operations company into an investment holding. they let go of sprint, the domestic telecom is listed. we are looking at two different players of investment. one is the division fund. it is much guaranteed to have a second quarterly record profit. doordash ipo alone will bring $10 billion in unreleased gains -- unrealized gains. another area is soft

well speaking of german companies in the news deutsche bank investors have long been waiting to hear germany's top lender ended the year with profit propelled by a strong performance from its investment side and low credit losses the question now whether that performance is a pandemic year one off or the result of his recent recent overhauls as a city under lockdown frankfurt had hoped for some good news but its major banks have delivered mixed messages this results season one of the bright spots bank its $113000000.00 euro net profit for the year 2020 is a sign of light at the end of the tunnel after years of struggling with failing divisions litigation and i t troubles well i think they're going full gain from the pandemic as well so all the client have to restructure the financing situation in much need for capital a lot actually loans they need their over to mr jasper response fall into situation and all this is good for the larger budget because there come provided full service argument on that far fewer pandemic loans are going sour than expected that's good news for the bank t

and deutsche bank's debt trading jump outpaces wall street. that's a bloomberg scoop ahead of thursday's results. good morning and welcome to "bloomberg surveillance." as always, tom and francine from london and new york. we look at silver, gamestop, and we also look at pound because we spoke to jane foley yesterday, and that was the beginning of a more police bet on pound, and this has everything to do -- a more bullish bets on pound, and this has everything to do with the vaccine rollout. tom: we will cover that today, but, francine, have futures up 33. we will do a data check. with it, bond yields up, and the continuing saga out of washington as the president's day start at 5:00 a.m. what is that about? francine: the president likes to give news at 5:00 a.m., the start of the day so that all the news outlets are on the same page. joe biden -- the agencies will review some of the policies, and this feels like a rollback on some of the things that president trump had put in place. he is also rolling back on some of the migration orders and fa

a look back at better days the same place in 2019 just 6 were performing as part of deutsch and ellis campus project which promotes cooperation between young musicians from around the world a capella group c.l.a from live so you sang with the guys from johannesburg. this was a very special collaboration mostly because we're bringing together 2 different type of cultures to different types of styles of a capella sick they developed a repertoire together 1st in south africa and later in germany. it was a great exchange in hearing what they do it then gerry what you do and i asked trying to put that together. be able to create something which for me sounded new. just like giving birth to. a whole new brand new born baby the project culminated in a performance at the beethoven fest in bonn together with the national youth orchestra of germany. i. we were even having plans of saying they're going to 20 probably can meet again and do another tour somewhere else in 2020 why and because that's what it looked like and then in 2020 covert 1000 happened and then everything just went since then j

deutsche bank an earlier gain after reported a profit in six years. if you look at some of what fixed income is doing in europe, the focus is on whether mario draghi can deliver and have a permanent injury majority in it -- parliamentary majority in italy. and opec. tom: claims coming up later with michael mckee to attend that and the jobs report tomorrow. what is remarkable about this thursday is i don't think i have mentioned gamestop yet this money. jack ablin has new goodie and mathematics at investor that means he writes really sharp research notes and has but that cresset capital mind to what we have all witnessed with gamestop and robinhood and the rest. we get a briefing from the mathematician this morning. jack ablin, let me go to the math of a no free lunch. there we were four years ago at schwab, free commissions, fidelity, free commissions. robinhood started it all, free commissions. how is that free lunch going? ? jack: what we found where the free commissions combined with the fact that a lot of professional sports were sidelined, las ve

according to the paper, the true costs may never be known. . >> well, and so this is donnie deutsche, big lie. and you can talk about that half a billion. dollars. the terrorist attack by trump terrorists. you can talk about maga cop killers, rushing into the capitol. maga cop killers beating cops with american flags. you can talk about the added security costs as we move forward. the talk about a fence perimeter around the united states capital grounds. this is the big lie. this is anne applebaum in her book "twilight of democracy," has talked about how we have seen medium-sized lies. but this was the big lie by donald trump, that the election was stolen. we have a big lie that we are going to have to deal with moving forward, which is believe what you see on facebook but don't believe what you hear or see on tv or in newspapers. because that's how more lies are going to be spread in the future. for right now, this big lie that the election was rigged is a big lie that men's of americans believed in. it's cost us half a billion dollars already and led to a terrorist attack on the uni

deutsche bank.king at claims because you have better services ism, will you get better claims, does that mean you get better jobs and if the economic data is not as bad as we think, what does that do for the case of stimulus out of the u.s. in terms of the number? we know something is going to happen, but is the number reduced? i am watching any rhetoric that comes out of the seat particulates from joe manchin who sits on the fence. democrats are not going to vote for anything so that has to be considered if they do a budget reconciliation. guy: it is interesting what the president said about more targeted checks. you do wonder whether or not what has been happening with gamestop may have tilted the balance in terms of making that process more targeted. that is going to be one of the interesting things that comes out of that, whether or not that goes on the rights of the democratic party. alix: $1400 and the cap for a couple was $150,000, i wonder how much that winds up changing. on this wednesday,

we will speak to richard mcgregor rate in the next hour and we will have views from deutsche banc and other us. we can also get more on the chinese trajectory. go to your terminal. >> over to vonnie quinn with the first word headlines. tensions in hong kong. >> hong kong authorities have charged dozens of activists under the national security law just days before the opening of the mainland highest profile annual meeting that you were talking about. 55 opposition figures originally arrested in january -- 47 face charges of subversion. myanmar has severed its deadliest day of protest so far. 18 people have been killed. the u.n. hcr says police and soldiers fired live ammunition into the crowd in at least six cities. the european union says the shooting of unarmed citizens shows a blatant disregard for national law. policymakers in australia are signaling they will not short from yield targets and qe programs i head the tuesday meeting. the governor will focus on a response to global reflation trade. the australian economy is recovering. southeast asia's leading right hailer is setting

also seeing a big upgrade across the airline space at deutsche bank, upgrading to buy at southwest anders because people are starting to get out there and travel. copper has been on an absolute tear. river last week, we got above -- remember last week, would got above four dollars. copper now trading at a record high. those stocks, that is your reflation trade. a lot of information going on today in the deals space. tom: good, good. you got that there. great. romaine: this is a big deal. we have seen a lot of combinations of these regional banks. you had that big deal for huntington bancorp in september, and the pnc deal in november. some of these original banks are getting a little too large, with regulatory requirements that kick in. then there is a visual of these persistently low rates. this is an environment where you can actually be more nimble, and these companies have to combine if they want to compete. cooper to also being bought in a deal with goodyear tire. interesting news that we got according to people familiar with the situation, activist investors have apparently been k