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i am emma chandra.he house is expected to approve the one point roland dollar -- one point $9 trillion coronavirus relief bill, leaving americans one step closer to receiving $1400 paces -- payments. it is unlikely to include an increase to the minimum wage. president biden has undertaken his first overt use of military force since taking office, carrying out airstrikes in syria. the targets were iran backed groups believed to have made rocket attacks. bloomberg learned a u.s. intelligence report implicates saudi arabia's crown prince in approving the murder of "washington post" journalist jamal khashoggi. that release reflects the biden administration's decision to recalibrate relations with saudi arabia. it is another big challenge to an economy already rocked by brexit and the coronavirus. foreign workers are leaving the u.k. at the fastest pace since world war ii. london alone has lost 700,000 people of the last year. the implications are huge for treasuries, landlords, and a global recovery. global

emma chandra has more on those. emma: thank you.istine lagarde reiterating she expects to see a recovery in the eurozone in 2021. there are caveats. one of those being the vaccine rollout, that being very important to the recovery in europe, and also the continuation of fiscal and monetary stimulus. of course, listing the guard has presided over unprecedented monetary stimulus over the past year in europe. we should be able to see a chart of how that has loosened financial conditions. that is the white line here as those conditions now in positive territory, suggesting we have a very accommodative situation. the orange line there -- that is the eurozone credit and pulse, the eurozone at its highest ever level, all of that suggesting access to credit, household would all be verys easy. there are some reports that there is more support is needed. the actual cost of borrowing is previous in the previous chart would have suggested, that banks are not really passing on the full low cost of borrowing there as well, and that the demand and

emma chandra has more. n usually cautious there, and it means more than 20% of the u.k. population has received at least one dose of the vaccine and that the u.k. is leading among some of the larger nations it we are also seeing the program opening up to younger age groups, my parents got their first shot last friday and they are very happy. and opening up means that will happen alongside others eating their second doses, so there are challenges ahead for the program. nevertheless, hitting the targets, meaning a lot of people are seeing it as a success and that is why we are seeing the pressure on the prime minister to say when he's going to reopen the economy, and of course the british economy really damaged by the lockdowns, the u.k. still in its third successive lockdown. we are getting this detail, about when they will get us out of lockdown, and that comes from a nation that is fed up with being in lockdown, and also from the political pressure. a number of conservatives saying they want all restriction

i am emma chandra.was your first word news and this is bloomberg. ♪ >> [indiscernible] these days -- impacting what we were hoping for, for the e.u.. jonathan: the astrazeneca ceo speaking to the european parliament. alongside lisa abramowicz, i am jonathan ferro. the s&p 500, we come in 19 points, down one half of 1%. on the bond yields, 1.4788. the commodity market, back to 62.31 on crude. the copper market down almost 3.5%, and the ftse is getting hammered, down 1.5% in trading gold. the commodity trade starting to run will -- rollover a little bit. lisa: i wonder how much is tied to global growth and how much is technical. there was a huge buying spree by chinese buyers in the copper space and you wonder the mechanics beneath these moves and how much they are trying to give narratives to other things. jonathan: energy and metals not doing well in the last 24 hours. the story of the last 12 months and the story -- the better story in the last few months. joining us is dr. andrew pay costs. -- dr. and

matt: and that was the cfo of natwest, katie murray there, speaking to emma chandra.peak -- stick with u.k. for a moment with the global head of fixed income research. you still pay close attention to your home market. what do you make of this be of the vaccinations in the u.k.? it's relative to what we're seeing here in europe, astoundingly quick, and the effect that has on the economy? steven: well, i think in the earlier segment, i said, whether it's by accident or by design, it's good news. and clearly, there's a race to get to this herd immunity or the required level of vaccination. and then maybe things open up. and i guess markets are pricing according to that timing, and that's something that the u.k. has a head start on at this point. so, i think that that's something that, in the bank of england's eyes, is a positive. and when you look at all the possible scenarios, they're adjusting them. and you can see, the gilt market has repriced. it's repriced because, again, the probability of negative rates happening sometime soon has been reduced dramatically. it mi