jonathan: bill dudley will join us next on this program.o come on tv, this is -- on radio, on tv, this is "bloomberg surveillance." ♪ (woman) i don't want to look like this anymore. (man) what is happening to my body? (woman) why can't i lose weight? (announcer) you may be suffering from insulin resistance. measure your waist. females measuring more than 35 inches and males measuring more than 40 inches may have insulin resistance. to learn how to reverse insulin resistance and lose weight effectively, go online to golo.com. once again, that's golo.com. jonathan: 60 minutes away from the opening bell. equity futures down around .1%. on the nasdaq, a massive week of gains last week. three point 9% on the nasdaq 100. right now futures negative one third of 1%. let's get to the bond market. we touched on credit earlier. equities all-time highs, credit spreads as titus 3% less than that. even with a ton of supply on the credit side. as barclays pointed out and tony rodriguez pointed out, 72 percent of the year to date issuance in high yield is

annmarie: william dudley there. let's take a look at where we trade this morning.e are flat on the futures. s&p 500 hovering around the all-time high. there has been a little bit of push-pull when you look across fluctuations in chinese assets. up more than .3%. yuan is softer relatively right now. this comes after china's miss for march exports and trade surplus data. 30 year yield, as you mentioned, we had strong 10 year option. the world and how it looks for the 30's, that has decent demand. before that comes, it will be about the cpi data. 1 p.m. london time. manus: to assess that, all the analysts around the market will be checking it. monica, great to have you with annmarie and myself, setting the agenda on the inflation discussion. said we were trapped in a psychosis, the bond market is trapped. what are they healthy, acceptable level of inflation that we should embrace? good morning. >> good morning. i think at this point, it is hard to gauge what is healthy. what we are going to see is multiple factors that are going to drive up inflation. we've got the st

not having to do was football, we've got bill dudley, the former u.s.ed president, joining us at about 90 minutes, talking about bank regulation at a time when banks have really been the stalwart of the financial system coming out of the pandemic, heading into earnings talking about profits at a time when there is still a k-shaped recovery. then i 1:00 p.m., i am very interested to see the demand for the $38 billion sale of treasury notes. how much more in demand, how much domestic demand? how much are investors going to signal where yields are going to go? 10 years tend to be pretty calm. very interested to see if there is any bipartisanship on capitol hill. there is a bipartisan congressional meeting with president biden and vice president kamala harris, where they will be talking about that 2.3 trillion dollars fiscal stimulus. will there be any agreement on paying for this? we do have goldman sachs saying the potential for corporate taxes will crimp earnings next year and the equity market. how realistic are higher taxes, given some of the reluctanc

christina dudley of franklin -- katrina dudley of franklin mutual. markets closed in europe.y markets, not much action. a tiny tick higher for the ftse 100. the dax up .8%. cac 40 up .9%. single stocks probably the driver in terms of the narrative. nestle having a good day. credit suisse less so. alix: not so much. let's talk about breaking news. governor cuomo is tweeting new york state now surpasses 2 million total covid-19 cases. as of yesterday, reporting almost 5000 new virus cases and 45 new covid deaths. that number surpassing 2 million total covid-19 cases. pretty startling. coming up, world leaders still speaking virtually for a climate summit hosted by president biden. we will speak with hiral patel coming up next. this is bloomberg. ♪ >> climate and development know-how. that reduces the fragmentation that is occurring in climate and development. i have other comments i would love to make. ritika: i am live in the principal room. coming, lance fritz, union pacific chairman and ceo. this is bloomberg. alix: live from new york, i'm alix steel with guy johnson in lond

jonathan: coming up in the 8:00 hour, looking forward to catching up with bill dudley. from new york, s&p 500, futures pulling back from all-time highs. this is bloomberg. ♪ ritika: the federal reserve jared jerome powell says the u.s. economy is at an inflection point. he said there is stronger than hiring ahead due to revising -- rising vaccinations. he warned the coronavirus is still a threat. the biden administration is a stepping up scrutiny of china's plans for a digital yuan. some officials are concerned the move could kick off a long term bid to topple the dollar as the world's dominant reserve economy. and after china imposed a record $2.8 trillion antitrust fine on alibaba, the e-commerce giant thanked regulators for helping it grow. it helped lift a cloud of uncertainty over jack ma's internet empire. and mark zuckerberg making a massive bet, set to buy nuance communications with an equity value of about $50,000, working on ai software to help doctors catch a patient's symptoms and put them into software. global news 24 hours a day on air and at bloomberg qui

dudley in the coming days. from northwestern on how society copes.with us on radio, on television. ♪ >> the richest person in the world supports investing in u.s. infrastructure and raising corporate taxes to help pay for it. still jeff bezos stopped short of endorsing president biden's two-point -- 2.2 trillion dollar infrastructure plan. he said it will require concessions from all sides. the u.s. will consult with allies over how to handle the 2022 winter olympics in beijing. that is over talks of a possible boycott over china's human rights records. discussing a global minimum tax on global business with the u.s. we spoke with the french finance minister and in exclusive -- in an exclusive interview. >> there is a unique window of opportunity to have the new international system, which will be more efficient and fairer. we are having very in-depth discussions between the french administration and american administration on this matter. we should reach an agreement by next summer. >> france is open to a higher rate than 12.5% being discussed. glob

get started today. >> but president bill dudley says they run the risk behind the curve.policy policymakers are evaluating fallout from the archegos. >> we are not talking about an exemption that increases bank risk. if we are talking about the idea of giving banks more room, we can just raise the leverage ratio requirement from of say, 5% to 5.5% on what is left. reserves are not risky and banks cannot control how much reserves they hold. that is determined by the fed. >> talking about the leverage ratio, you have talked before about concern of leverage building up in the shadow banking industry, a lack of regulation in that area. do you still see this as a concern and a pressing one or simply something to deal with later? >> i think it is pretty pressing. when you think about what happened last march, rescuing -- problems in the corporate bond space. most recently, we had the archegos issue. the non-bank financial sector is still rife with a lot of issues that need to be dealt with sooner rather than later. >> i need to switch to the present fed discussion. we have been

teresa dudley is on the phone and i know that i spoke to many teachers who were very reluctant. we want to kick kids back to school but we must be committed to getting them back safely. staff and children. during the course of our discussions, we passed two bills that the senate didn't pass. we called them heroes 1 and heroes 2. one was passed in may and one was passed on october 1. in those bills had very substantial investments in both state and local governments and education in particular and k-12. you are familiar with those, i'm sure. they had significant sums, particularly in heroes 1 and 2 for education funding both at the k-12 level and higher education as well. those bills, as i said, were not passed, and although we had some resources in the bill we passed in december, they were, when you divide it up between 50 states, multiple school systems, etc., pretty small sums. this time as all of you know, we are spending very substantial money, well over $100 billion to school systems directly. it may go through the state in terms of paying it, but directly to the schools. t

be's dudley's observations do you have an opinion as to whether the defendant violated n.p.t. departmental policy 7 dash 350 by feeling to render aid to mr floyd agreed that the defendant violated our policy in terms of rendering aid. thank you i have no further questions at this time your honor if he. is innocent. all right so this is live coverage now of the trial of former police officer derek show than over the killing of george floyd of course now entering its 2nd week a case that is really being seen as very significant for police accountability potentially in the united states so we've just been hearing testimony from minneapolis police chief meant daria. who was testifying for the prosecution we understand he'll now be questioned by the defense he was are specifically about the policy of providing medical assistance to someone who is experiencing some sort of medical crisis or emergency while they are in the care of the minneapolis police department and also you asked about what constitutes the reasonable use of force by police officer but now the questioning continues

to which we should see this is a legitimate response to the protocol is very limited but it is on dudley creating huge waves and huge difficulties and the european union's response something of a 10 year. some of those concerns i think and some observers have said that the european union is is partially to blame b. because of a decision which was reversed to place controls on the exports of vaccines from great britain to northern ireland is that playing a factor as well look i really would bulk trying to blame the european union for riots in belfast they're relatively small it's small scale quite deadly when it comes to the police and juries been accumulating but it certainly was something of a 10 year and i think the problem is that when barney the chief negotiator step done there's no real statesman controlling what the high high the actions of the european union is being perceived both in britain and an arm of the 2 places where that the friction is being felt that the grid is to a degree so that lack of stance means ship i think. is not just a threat that as far as the near term is c

to which we should see this is a legitimate response to the protocol is very limited but it is on dudley creating huge waves and huge difficulties and the european union's response something of a 10 year. some of those concerns i think and some observers have said that the european union is is partially to blame b. because of decision which was reversed to place controls on the exports of vaccines from great britain to northern ireland is that playing a factor as well look i really would bolt trying to blame the european union for riots in belfast they're relatively small it's small scale quite deadly when it comes to the police and juries been accumulating but it certainly was something of a tin ear and i think the problem is that when barney the chief negotiator stepped done there's no real statesman controlling what the high high the actions of the european union is being perceived both in britain and an arm of the places where that the friction is being felt to the greatest degree so that lack of stance when schiff i think. is not just a threat that as far as the near term stern is a

potentially the weakness and instability of the monarchy and the fact that coup plotters actually believed dudley could get away with a coup and yet to not have a story to justify the arrest and detention of prince and his associates will then make it appear that they've arrested him for no reason other than the fact that he's been critical of the team so they're really stuck in a difficult place i think the most telling issue here is how little we know and how little julian people know about what's happening in their own country and also very interesting the deputy prime minister in his news conference area mentioning the involvement of foreign forces without making an explicit statement as to who they were who are they pointing the finger to or say think well we don't know because they haven't pointed the finger specifically at anyone in fact it would be very helpful if deputy prime minister somebody who tell us but who exactly he's alleging was plotting a coup with the crown prince hauser so that we can avoid unnecessary and false rumors of course there are allegations that time the crown prin

flowers laid at the scene of the dog attack near dudley.ouring property managed to get into an 85—year—old woman's garden in lyme regis yesterday. neighbours raised the alarm but she was found with multiple injuries. 0ur officers have attended, at which point the dogs had returned through a hole in the fence to the adjacent property and then, unfortunately, despite the best efforts of medical professionals and ourselves, that lady died at the scene. a man in his 40s has been arrested and bailed for further enquiries. police describe the dogs as large and said they were tranquilized and seized so tests could be carried out to establish their breed. police have not yet named the victim but continue to investigate the circumstances of the dog attack. a postmortem is expected to determine the cause of her death on a bank holiday afternoon. anisa kadri, bbc news. clean—up work is under way after huge crowds gathered in cardiff bay on friday evening, despite coronavirus restrictions still being in place. cardiff council said a significant amount

flowers have been laid outside her home near dudley in the west midlands.n released on bail pending more inquiries. the met police have said they will be engaging with church authorities over easter to ensure that all services adhere to covid restrictions. the message comes after police were called to reports of people queuing outside of christ the king church in london yesterday. the service was stopped but no penalty notices were issued. the metropolitan police say 26 arrests have been made after ten officers were injured following protests in london tonight. earlier thousands of people across england and wales marched in opposition to the government's police, crime, sentencing and courts bill. the legislation would make it easier for police to intervene in a protest if it was deemed too disruptive. duncan kenendy reports. the biggest demonstration was here in london, attracting several hundred protesters. the first around hyde park... and then here in parliament square. for much of the time it was peaceful. screaming until scuffles broke out when police

dudley reported that one of the government legal advisors to link san suu kyi was shot and killed basal gunmen police have a suspect in custody. that agang an international airports where he was 9 months young branch trials. by many. many many here. government. yet. the murder is also seen as a warning one toward you our military. boss on suchi was notably absent from connie's funeral she remained silent and withdrew from the public gaze . she was shaken she can guess the main reason. if she says something it will get wives. there is another aspect to this brutal killing connie was not just a lawyer and one of aung san suu cheese advisors he was also a muslim. relations between man mars buddhist majority and the country's muslim minority are difficult. the conflict is in part and historical 11 burma's people fought against british colonial rule after the 2nd world war one ethnic group remained largely on the side of the british the muslim or hinge of people. the buddhist majority regarded them as traitors nowadays the buddhist population mostly refer to them as the bengalis meaning musl

the pensioner was found suffering from serious injuries at an address in rowley regis near dudley ons police. neighbours called to report that a lady in her... ..85 years of age was under attack from dogs from a neighbouring property. our officers have attended, at which point the dogs had returned through a hole in the fence to the adjacent property and then unfortunately, despite the best efforts of medical professionals and ourselves, that lady died at the scene. an operation then undertook to secure those dogs. they were tranquilized and transported subsequently to secure kennels, where they currently remain. they are being tested to determine their breed. specialist officers are now working with the family to offer them their support in what is a tragic and horrific incident. that was the west midlands police statement fair on the woman who died after being attacked by two dogs in her home. campaigners in belgium are calling for urgent reform of the police after a series of high profile deaths. most were from black or from minority ethnic backgrounds and died in custody. no offi

police says the pensioner was found suffering from serious injuries at an address in rowley regis near dudleyrning, a police cordon and also flowers that have been laid on the pavement just outside the house where this shocking turn of events happened yesterday on a bank holiday afternoon. we know that emergency services were called here at about 20 past three yesterday. they had reports of a woman seriously injured during a dog attack in her garden. later on, police confirmed that an 81—year—old woman, who hasn't yet been named, sadly died at the scene despite their efforts to save her. they say that she had suffered dog bite injuries, although a postmortem examination is yet to be carried out to determine the exact cause of death. they also say that the dogs involved have been taken away to be tested to find out exactly what breed they are. now, we know that a man is in custody. a 43—year—old local man has been detained on suspicion of being the person in charge of a dog dangerously out of control. and west midlands police also say in that statement that their thoughts are with the friends

rishaad: former new york fed president bill dudley says the fed needs to see more progress on inflations well motivated but was running the risk of being behind the curve as policymakers monitor fallout from the archegos debacle. with more concern about the nonfinancial -- non-bank financial sector. >> reserves at the federal reserve are not risky assets so we are not talking about an exemption that increases bank risk. if we are really concerned about the idea of exempting reserves and giving banks more room we can just raise the leverage ratio requirement from 5% to 5.5%. >> what is left? >> reserves are not risky and banks cannot control have any reserves they hold, that is determined by the fed. >> moving beyond this point of regulation and talking about the leverage ratio, you have talked before about concern about leverage building up in the shadow banking industry, about a lack of regulation and that area of financial markets. do you still see this as a concern and you see it as oppressing one, or civilly something to deal with perhaps later on? >> i think it is pressing. when yo

to which we should see this is a legitimate response to the protocol is very limited but it is on dudley creating huge waves and huge difficulties and the european union's response something of a 10 year. some of those concerns that they have and some observers have said that the european union is is partially to blame b. because of a decision which was reversed to place controls on the exports of vaccines from great britain to northern ireland is that playing a factor as well look i really would bulk trying to blame the european union for riots in belfast they're relatively small small scale quite deadly when it comes to the police and juries up and accumulating but it certainly was something of a tin ear and i think the problem is that when barney the chief negotiator step done there's no real statesman controlling what the high high the actions of the european union is being perceived both in britain and in our of the 2 places where that that the friction is being felt that the greatest to degree lack of stance midship i think it is not just the threat that as far as the near term sta

to which we should see this is a legitimate response to the protocol is very limited but it is on dudley creating huge waves and huge difficulties and the european union's response something of a 10 year. some of those concerns that they have and some observers have said that the european union is is partially to blame b. because of a decision which was reversed to place controls on the exports of vaccines from great britain to northern ireland is that playing a factor as well look i really would bulk trying to blame the european union for riots in belfast they're relatively small small scale quite deadly when it comes to the police and juries up and accumulating but it certainly was something of a tin ear and i think the problem is that when barney the chief negotiator stepped on there's no real statesman controlling what the high high the actions of the european union is being perceived both in britain and an arm of the places where that the friction is based felt that the greatest degree lack of stance and ship i think it is not just the threat that as far as the near term cern is als

that was william dudley, former federal reserve bank of new york president. good morning.side tom keene and lisa abramowicz, i'm jonathan ferro. we are 12 minutes away from inflation data in the united states of america. here is the set up for you stateside going into the opening bell in about one hour and 12 minutes. equity futures down nine on the s&p, down about 0.2%. yields on the 10 year, 1.67 65%. the headline from the fda and cdc recommending a pause in the j&j vaccine does not make it in this market. euro-dollar bricking $1.19 this morning, a mild move lower by 0.1%. tom: we get lucky, as we did over the last number of days, to have the right guest at the right time. i don't know how our team does it, but they have been killing on this. tina fordham joins us with avonhurst, head of political strategy. three cups of coffee ago, i thought we would talk russia, china, taiwan. no, because there has been an extremely detailed study at avonhurst on our vaccination, on our pandemic, and the realities of our resilience and success forward. tina fordham joins us this mornin

that's why i was so encouraged can dudley by president biden's inaugural address where his emphasis wasnity, and my -- my disappointment has been that at the federal level there's not been that unifying force. there's been rhetorical unity and emphasis on unity in speeches, but when it comes to actions, there hasn't been nearly enough unity, and i think that's the best and most constructive way that elects officials can really make a difference right now so hopefully this evening that will be a real point of emphasis for president biden in his address. >> and i know that there is hope on capitol hill by democrats and republicans that there can be something achieved in terms of a compromise when it comes to policing reform. you're working closely with republican senator tim scott who is spearheading the approach for republicans in the senate on his policing proposal. are you still optimistic. where do bipartisan talks stand now in terms of finding something that can pass the senate and get to president biden's desk? >> well, i mean, i think we're very close. there's so much overlap when

she writes a petition to massachusetts governor, joseph dudley, so, again, it's an amazing document and it reflects her knowledge of legal matters and does reflect, again, the excellent education she must have had. so this issue is resolved -- ultimately resolved in her favor, but not until after her death. so we're not sure what happens to penelope and josiah's home. the stories that it burned down late in the 1600s, which is quite possibly true, and then there's a story that she may have gone to live in this house, built by her son isaac in the late 1600s for the late years of her life. this is in marshfield and it's open to the public. again, she may have lived here for the final years of her life. we're not quite sure. after her death, her memory continues to be honored by her descendants. in fact, a number of her descendants during the revolutionary war remain loyalists. and you can see in the records there is a strong attachment to their british lineage. it's so interesting how her heritage and her influence did have these lasting repercussions. generations of winslows were still

but dudley's morticians are barely able to keep up these makeshift crematoriums have become a symbol of india's coated 1000. catastrophe. you will never go to this but i can give you our border this was a parking lot but we got permission to set up an extra $24.00 crematorium sites and now there are so many corpses were running out of firewood. because in 1000 has taken an enormous toll on india many died because there was no one to take care of them. for days there have been lines of patients in front of hospitals no one lets the men because there aren't enough beds or oxygen tanks people feel abandoned. and therefore very very very good to going to them getting nor any number were given there but nobody is born in numbers or not me believe me believe my brother it is going to go on order and their laws were yesterday a little bit further my father mother. my father begged me to help him but i couldn't do you know how that feels when your own father cries and all you can do is put him in an auto rickshaw without an oxygen tank. for the 1st 3 days i've been walking from one hospital

and to answer your queries, i'm joined now by dr samara afzal, a gp at netherton health centre in dudleyd explain clotting if there is a correlation between having had covid when being vaccinated and the risk of reactions such as clots. it is one of those theories that's been going around. we do ask them whether they have had covid in the last month, and if we do, it's the logistics of it. if they have symptoms, they shouldn't be coming in they should be having a test anyway, but sometimes what happens is you get vaccines, you know, a few days notice, and it's the logistics of trying to get all of those patients tested. i think that would hurt the vaccination programme. so i don't think that would be possible. as we know lateral flow testing is around, but it's not 100% sensitive. and it's difficult to say whether it is that some of these patients have got covid and have had the vaccine and whether they have been developed, these complications. so i don't think that will come in, i don't think that will come in, i don't think —— for logistical reasons we will be able to test her from bef

mark dudley is an english professor at north carolina state university who has written about hemingway knew what he was writing about and trying to convey a message that may not have been obvious. >> exactly. nobody is perfect. i'm not going to be an apologist for everything he wrote. but i would say push pause before we want to take away this artist. >> reporter: the headlines are filled with the cancel culture. we live in an era where a lot of powerful figures of the past, most of them white men -- some statues are being taken down, their names are being taken off of buildings, writers are being taken out of curriculums. why hasn't hemingway been canceled and why shouldn't he be ranceled? >> that is the best question. i thought the same thing, when is hemingway and the discussion of his so-called cancellation going to be on the table? i say he has staying power for a reason. it is not because of the color r of his sskin. it i is becausese he isis a mamaster craftftsmaman. he is aaround because he meanans somethining as an artistst. >> r reporter: h hemingwayay leled a vibrarant life

we have teresa dudley, the president of the prince george's county educators association and and anyoard member -- nea board member. wayne bauman, field service committee member, thank you for being with us. rashama hill the pta president at overlook, spanish immersion school, thank you for being with us. and jared taylor, the pta president at maya angelou french immersion school. i think all of you, for being with us, and more important they, for all that you do everyday to make such a difference, in our school systems. i quote frederick douglass, obviously born a slave on the eastern shore, as was harriet tubman. i have a picture of frederick douglass and harriet tubman in my conference room in the top -- in the capitol, two extraordinarily marylanders. frederick douglass said, it is easier to build strong children that it is to repair broken men. i think that is a profound statement. and it may surprise some of you have not heard me quote spiro agnew. he and i were elected to the maryland -i was elected to the senate and he was elected governor any given inaugural address. the onl

the victim was found with serious injuries near dudley yesterday afternoon.ere for us this morning. kathryn, what more do we know about what happened? a shocking event on a bank holiday friday afternoon in rowley regis in the black country which saw this residential street filled with emergency services vehicles yesterday and also an air ambulance landed in a nearby park. as you can see, the police are still here with a cordon at the house and a van. emergency services were called at around 3:20am the reports of a woman seriously injured in her back garden following a dog attack. police have confirmed an 81—year—old woman who has not been named despite their best efforts sadly died at the scene. they have also confirmed that two dogs were involved, neither belonged to the woman, and both are being tested to determine their breed. west midlands police has confirmed a 43—year—old local man has been detained on suspicion of being a person in charge of a dog dangerously out of control and in a statement released last night, i added that their thoughts are with th

and to answer your queries i'm joined now by dr samara afzal, a gp at netherton health centre in dudleyget slightly stronger side effects. �* ,, ~' , tend to get slightly stronger side effects. �* ~' , ., tend to get slightly stronger side effects. �* ~ , ., ., effects. are you likely to get more of a side effect _ effects. are you likely to get more of a side effect with _ effects. are you likely to get more of a side effect with one _ effects. are you likely to get more of a side effect with one of - effects. are you likely to get more of a side effect with one of the - of a side effect with one of the vaccines over the other or is there no proof of that? i vaccines over the other or is there no proof of that?— no proof of that? i think there is no proof of that? i think there is no roof no proof of that? i think there is no proof of _ no proof of that? i think there is no proof of that. _ no proof of that? i think there is no proof of that. there - no proof of that? i think there is no proof of that. there are - no proof of that? i think there is no proof of that. there are lots l no