deutsche bank used to be the bad boy bank, now it seems to be ubs. is this as good as it gets given the low yield environment? >> there are a few things that come through for the banks. market volatility which we think is going to remain is helpful for these banks that have investment banking. the loan loss provisions were pretty high. those loan losses are coming in at much lower levels. we have had a bit of a move up. >> i want to move on to a report. you say 40% of investors are looking to increase stock holdings. what is driving that 40%? >> it is a combination of improving outlooks on the economy, improving businesses that we survey investors, when we look at the outlooks, people are feeling more optimistic than they were. there is concern around paying in cash. there may be an influence on some people thinking. annmarie: if they don't move into stocks, what are you seeing investors interested in? >> people are focused on being invested. technology space is an area they need to get more involved in. 63% of investors say sustainability is going t

deutsche bank's big beat.he 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 inflation and what's g

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 of

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

politicians dreams of a major german financial player did a much bigger con if they would have acquired deutsche bankor 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 the alleged escrow accounts 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 accounts that are. helpf

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. 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 marke

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

where is deutsche bank right now in reforming its business, where credit suisse is going the oppositeection at this point? steven: it seems like those banks have turned some kind of corner here. they had a lot of growth last year, and they will have 20% growth this quarter, so it is really going well for them, and the changes they implement it in the investment bank should have some -- they them plummeted in the invest -- they implemented in the investment bank should have positive effects. guy: i appreciate that they managed to get out of this tight spot, and they seems to wriggle out of wirecard as well, which is a pretty big positive for investors. but they are skating pretty close to the edge right now, i would have thought, as they try and do this. it is working out right now, but is this delivering what it needs to from an investment point of view? investors are looking for this to become much more of a corporate focused bank, taking out some of the riskier ends. are they actually delivering that? it comes back to this luck question. steven: the turn in the investment banks whic

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

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

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:

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

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

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

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

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 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

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

deutsche bank is working on plans to allow staff to work from home up to three days a week. of the most flexible return to office policies amongst large international banks. deutsche bank has repeatedly said it wants to cut costs by reducing office space. that is your latest 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

[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

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

deutsche bank calling their first quarter response a massive beat.erg saying the results are undeniably impressive. we saw first quarter revenue doubled and at the same time raising their guidance for the fiscal year. shares are up 5.2% on trade versus yesterday's close. anna: onto another corporate you are watching. we have l'oreal. >> they reported yesterday after the bell, so we should see substantial gains from their equity price today. as these other companies are catching on today, solid results. it is thanks to demand in china, specifically one duty-free island there. revenue rising in north america. those markets are key. sales in europe have fallen. recall the hometown of france is under its third lockdown. they have to lean on these different geographies. these sales show a great start to the year for the cosmetic company. anna: certainly a few things to watch at the start of trade. thank you. mark, we are just minutes from the start of the european equity trading day but there is one story that caught our eye this morning we have not had a

for more on this, we are joined by our guest from deutsche bank.ted to start with the whole export picture that has started to come together. we had a story early this morning, early indicators in china showing momentum is continuing because of external demand. exports are moving, obviously. is there anything more feeding into that story? >> it is not just the base effect. if you look at january and february for asia as a whole, not just china, the potential improvement in terms of exports, it grew more than 8% from the previous quarter. it is not just about the base effect. it is clearly a sequential provement in exports as well, and that is driving and supporting growth for asia when some of its markets and economies are under pressure as far as demand is concerned because of covid outbreaks. david: part of that story is taiwan. i mean -- that has been on a whole different level from pmi's to the currency, to the equity market and export orders. is taiwan at a risk of overheating this year? juliana: taiwan did very well last year and this year, a

notably, morgan stanley, goldman, deutsche bank, virtually no losses or impacts, and bloomberg has learnedrom a person with knowledge of the matter that morgan stanley actually pulled a $5 billion basket of shares the day before. we also know goldman acted swiftly. go to the bloomberg and you will see credit suisse did not unload its two-point $10 billion in holdings until this week. the losses taken virtually wiped out a year's worth of profits, and looking at a series of what analysts say were missteps and poor management decisions climaxing in the march debacle, it appears that, as jp morgan analysts say, it will take some time for credit suisse to recover from this. they plan to update on greenfield losses yet to come. back to you. rishaad: a lot more on the way. just a reminder of what happened for equities, of course, on the street of dreams overnight, we saw modest fallback. looking at the futures, at the moment, they are showing pretty much an unchanged picture with guidance coming through, but that is manhattan, and this is bloomberg. ♪ julette: let's get the latest business flash

you wonder how the american bank approach, a troubled bank like credit suisse or deutsche bank. ankly how they approach stronger banks of the united kingdom in europe. i know that the team is watching. lisa: jp morgan and twitter, jp morgan and credit suisse. i think it is highly unlikely from all the banking executives and analysts that a big u.s. bank would acquire a european bank. tom: joe is calling from jp morgan right now. anyway, just fun folks. truly valuable 66 page must-read. lisa abramowicz and tom keene with jonathan ferro. futures up three, dow futures up 20. stay with us. lauren sauer next. this is bloomberg. ♪ is bloomberg. ♪ >> with the first word news, i'm ritika gupta. present by ms. appealing to gop voters while lawmakers are in their districts. the president will make his second major sales pitch and is facing opposition from conservatives and business groups who are against proposed tax hikes. the u.s. says it will consult with allies about how to handle the winter olympics in beijing. that sparked discussion of the possible boycott over china's human rights

across europe, someone like deutsche bank has clearly done a fantastic job, and the investment bank hasing on all cylinders come about at bnp paribas, the story is more similar to barclays. strong equities, disappointing in sick up -- in fic. guy: thank you very much. let's talk about what is happening big picture with the markets today. a fairly flat picture. the cac 40 is under a little bit of pressure, more so than the other markets. the dax is down by 0.1%. the ftse is fairly flat. we will talk about the month next. 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, take the savings challenge at xfinitymobile.com/mysavings. or visit and xfinity store to learn how our switch squad makes it easy to switch and save hundreds. guy: we are wrapping up the day, wrapping

time to check on some of this morning's big money movers first up, deutsche bank, the german bank reportingts best quarterly profit in seven years. that's on fewer loan losses due to the economy as growth slowly recovers from the pandemic >>> next up, investors sticking a pin in pinterest, the media company reporting first quarter revenue jumping 78%, beating its own guidance but look at that. shares are down 10.5% as user growth, particularly in the u.s. appears to be slowing. pinterest said since the second quarter last year it noticed a strong correlation between lockdowns and user engagement on its platform imagine that sit at home and look at the internet >>> finally, starbucks, second quarter sales missing forecasts even as the coffee chain raising its annual profit and annual guidance on the expectation more customers will return as they get vaccinated starbucks says american sales have returned to prepandemic levels although sales in locations in downtown areas are still lagging those in the suburbs. by the way, the ceo kevin johnson joining "squawk box" today. >>> apple's hardware

deutsche bank saying the vaccination rollout will be supported by the offshore yuan given high correlation with a common currency. pulling up the chart on the terminal, following contagion concerns, the pickup in caused ted we have seen spreads tightening in the region on a report the pboc will support the bad debt manager. indication that steps are being taken to address risks. with that, pulling up the board right now on the screen. the financial watchdog in japan continuing to question potential losses in risk management related to archegos. facing losses of $2.4 billion. haidi: let's get you to new york. vonnie quinn is there with the first word headlines. vonnie: u.s. regulators are said to be considering a tougher plan for investment firms after the implosion of archegos. sources say the sec is exploring how to increase transparency for the type of derivative beds that sank day -- derivative bets that sank archegos. president biden says his administration has achieved its goal of administering 200 million vaccine shots in his first 100 days in office. the president is asking companie

deutsche bank reporting the strongest quarter in seven years, the german bank closing the first quarter investor activity in financial markets. deutsche bank was also able to avoid the fallout from the collapse of archgos capital. deutsche bank shares soaring 8% in the premarket. move over walmart, amazon is coming for your crown according to a new report, amazon set to overtake walmart as the biggest u.s. retailer bees 2025. the report predicts americans will buy more than $632 billion worth of products from the online retailer. dagen? dagen: thank you so much, gerri. gerri willis for us. time for the word on wall street, top investors watching your money this week. joining me now, pacer et f's distributor's president, sean o'hare rase, nicholas wealth management president, david nicholas and chief investment officer, shana sissel. boeing out with quarterly reports, missing on earnings, reporting a loss of $1.53 a share but beating on revenue estimates. we're also expecting more from big tech today, apple and facebook reporting after the bell along with ford. this on the heels of big r

have you noticed how little we have talked about deutsche bank over the last couple of weeks?e will do that in just a couple of moments. futures up 11 points on the s&p 100. yields up a couple of basis points to kick off q2. this is bloomberg. >> president biden says he is open to good-faith negotiations with lawmakers on his two point $2 trillion infrastructure plan. republicans already are making it clear they don't like the way the president wants to pay for the spending. he has proposed raising the corporate tax rate to 28% plus eight rise on corporate global earnings. the price tag of a democratic proposal may drive away republican support. chuck schumer plans to wrap several china-related bills into one package. that includes $50 billion for semiconductor r&d. johnson & johnson is downplaying the situation and says the company met its most recent vaccine target and says none of the doses made in the u.s. a far have come from the plant where the error happens. egypt says it may seek around $1 million in compensation for the suez canal crisis. the authority called a rough

the first quarter was america's quarter, a line from deutsche bank.lier addition with francine lacqua, his call is q2 will be europe's quarter. euro-dollar, he is looking for a move toward 1.25. right now, 1.21, the euro slightly weaker today. it is the inflection over the last couple of weeks as we reclaim the 1.20 handle on the back of better than expected vaccination progress. we see it in europe, convergence between europe and the united states. we are not seeing that in brazil and we are not seeing that in india. tom: i'm glad you bring it up and i'm gradual brought up george saravelos because there are a lot of different moving parts. we will try to coalesce into an important conversation on the american labor economy. frances donald, you are expert. thank you for joining us. i want to dovetail george saravelos' note. he is in foreign exchange and is looking at strong canadian dollar. you live and breed this with manual life of montreal, so we have a wonderful nexus with george saravelos and frances donald on the canadian-u.s. difference. the an

that credit suisse has such exposure and sustained such huge losses, when rivals such as goldman, deutsche bankgan 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: just ge