kkr leading the bidding for the $20 billion arm of deutsche telekom.tse 100 is now down .2%, a couple minutes ago it was in the green but there is optimism on the back of the u.s.-china detente. tom: i would critique whether detente is what we are looking at. francine: symbolic. tom: you have had those conversations between janet yellen and the vice premier of china, those are not insignificant. just gaining in terms of that context we saw yesterday, the u.s. back from its holiday, the dax gaining .6%. the ftse 100 the laggard, down .2%, basic resources and energy factor there. a couple of individual stories that are fascinating today. uniper, the german utility company that is central to that country's ability to sustain itself in terms of the energy prices, we got some details towards the end of the day yesterday around a potential government bailout of 9 billion euros. response from investors, gains of almost 9%. this is a story to give across because of its central at the around gas and the euro zone as well in focus as russia threatens to cut that

deutsche telekom, ericsson and psm. i'm deutsche telekom, they are selling all the assets.is there tower of retaining 49% of it. manus: 11 billion euros, infrastructure sold. versus going to be a happy man. he managed to bump off the roster, not our of the deal. it is going to be 10.7 billion in cash. buying those assets. dani: ericsson, this is interesting, topline was ok, the bottom line, is amiss for second quarter profits. the ceo saying global supply chain situation remains challenging and inflationary pressures a strong. manus: you're going to see strong dollars of good margins, 7.8% of the estimate. we were looking around 90% on the net income. keep an eye on the chip stocks. the producer of the show will be happy we are going to go back to syncopation. dani: the deepest aversion since 2000. the wild warnings screaming out from bonds. manus: the question today, scorching hot cpi carried i'm calling it scorched-earth. what do i mean by that? maybe you do 100 and then 50, you got them expeditiously delivered between now and september. dani: from the yield curve, let's

we have the right partner in deutsche telekom and brookfield to do that.s a window in european digital infrastructure to consolidate and focus on the networks of the future. the macro data is tough, it's not getting easier. local carriers in europe are having a difficult time growing and there is a significant dinner bell for 5g. having a strong partner that can help customers like vodafone, orange. this is the right moment to do that and we are poised to take advantage. jon: explain from your vantage point, for all of those companies dealing with things like debt load, a near-term reality that seems to create opportunity in your case. why is it that these businesses have always been so attractive to you? marc: look, it's a great moment in time for digital infrastructure. this transaction in particular, is anchored by a 30 year commitment from deutsche telekom with an annual escalation link to cpi. our investors are long-term investors at digital bridge. the largest sovereign wealth funds in the world, the largest pensions. what are they looking for today

manus: let's see if they win the prize from deutsche telekom. let's check on some of the key points markets will be focused on today. we had the rba raising rates by 50 basis points, the first back to back hikes in history. dani: we will also get industrial production data followed by global pmi at 8:50 a.m. we have the euro area, germany and the u.k. and then the bank of england will issue its financial stability report. manus: coming up, a rollback of u.s. tariffs, that injects a boost of risk in the market. dani: we will also be talking about natural gas rivaling oil. soaring prices for the commodity push in europe to the brink of recession, that is on bloomberg's big take later this hour. this is bloomberg. ♪ manus: it is daybreak europe. i'm manus cranny in dubai, alongside dani burger in london. owing back the tariff, one could say that is a risk on china. yields are rising, we did ratchet as much as 13 basis points on the short end of the curve. aberdeen standards say get ready for a test on two year yields. the aussie dollar, on the tari

deutsche telekom is expected to make a decision this week.nit may be valued at about $20 billion. this crypto lender has closing -- frozen withdrawals. it is also suspending training and deposits less than three weeks after saying it was processing withdrawals and will continue to do so. they join rivals and resort to these measures to survive the market value. >> we have a bit of a tournament with equities. this is down about .6%. let's look at how this is panning out. they have a reduction of tariffs. all of that is helping equities generally speaking. we have in the mix i hang seng which is up by half of 1%. we go to shanghai comp which has slipped into negative terrain. things having the frost blown off them and u.s. equity futures are supporting a little bit here. we have parts of the u.s. treasury curve also inverting as we seal yields rising across the globe. that is the u.s. treasury curve. you can see we have that five-year and indeed the three year there. just below normalizing, we had that inversion -- on inverted if you will. that

deutsche telekom, selling off part of its towers business, a 51% stake to brookfield group, currentlyn .9%. they are paying down somes ofe their debt. seb, a swedish lender, results driven by rate hikes by the national bank over there, sweden's largest bank gaining 2%. talking of the banking sector, wall street earnings are kicking off. we are joined by bloomberg's chief equities strategist gina adams. trade volumes are up, we have had the hikes, but then we have the recession and growth fears, how do these factors weigh on these big names? gina: that is the key, we have price in so much risk, how bad can it be? the one factor that could indicate things are quite a bit worse is if the banks suggest there are charged off increases. if they start charging bad credit, that is a problem. for now, analysts are expecting a very damp margin outlook and they are not expecting much loan growth. it would seem that companies are set up to be expectations at week -- beat expectations at least on the second quarter, the real question is what happens further out? tom: the report is out from her in

deutsche telekom is expected to make a decision on this this week and it may be valued at $20 billioninbase backed crypto lender vauld nad -- has hired advisors to explore a restructuring and it is a restructuring and it is suspending trading and deposits less than three weeks after saying it was processing as usual and would continue to do so. the company joins rivals in resorting to last-ditch measures to survive the market rout. haidi: let's take a look at the day ahead for australia and new zealand. and of course there is one major thing on the agenda. economists expect in rba to raise rates for a third straight month later today, signaling more big hikes to come as it tackles escalating inflation. they intend to use 4200 kilometers of high-voltage undersea cable to export power from a giant solar and battery complex in northern australia. we are also watching these floods in and around sydney. more evacuation orders were issued this morning. getting more on the rba policy decision ahead. we will be speaking to goldman sachs's andrew boak book specs the central bank to hike i 50 b