we also have a great speaker in gottstein later on.ooking at equities, are we going to see consolidation than the baking space -- in the banking space? peter: a lot of it ties down to the view of progress and it does seem to be more momentum in that direction. if it does happen, i think that could move each -- could unleash a lot of consolidation at a time where you have rates rising and pushing up margins. that is a much more attractive prospect for investors which have long neglected the banking system in europe. i think the dynamics are changing a bit and m&a as part of that story that is looking more promising. tom: and we are hearing from tech executives about the climate for yields and 10 year yields are about 10%. is there an opportunity if you're looking 12 months now, is there an opportunity to look at tech? peter: we have been tilted towards value in 2020 because we felt in this environment with inflation and rising interest rates. and actually rising returns in the energy and bank sector. it would get this shift first. since

a tough move for gottstein. dani: and we will put these questions to deutsche bank later. that will be an interesting conversation. let's move to the u.k. we have rishi sunak promising to cut taxes at his next budget audit. it was one of the demands of one of the board members who opposed the prime minister this week. johnson plans to press ahead with legislation over -- to override the brexit deal. let's get more with leigh-ann gerrans. is this johnson trying to shore up more of the party with these moves after this week's drama? leigh-ann: i couldn't agree more. that is exactly what he is trying to do, and boris johnson has said he is going to fetch on. today is going to be interesting because it is the first time boris johnson faced prime ministers questions, and that confidence vote did happen earlier this week. mp's are going -- he is going to face them knowing almost 40% of them didn't want him to leave on monday, which is a big cut. -- 40% of them did want him to leave on monday, which is a big cut. that is to appease these discredited rebels within an side of the t

don't forget, does gottstein have the support of investors? they have 5% of the bank and they warned, they have support. the buyers will be circling. dani: this comes off the back yesterday of a fine from credit suisse from the highest swiss court in the monday laundering case. credit suisse says that is 14 years ago but that adds to that. along with the investor meeting, let's look at key things we will watch out for. hearing from francine that the ecb and forum on central banking in portugal, inflationary concerns will be monitored. manus: whipping up a word -- a whirlwind in sintra. u.s. data at 1:30 p.m. u.k. time including the wholesale and retail inventories. finally, the federal reserve bank of san francisco, mary daly participates in a fireside chat hosted by linkedin. wonder what she will say about this big move. risk on move we had last friday and whether it changes the narrative for the fed. with a double down? dani: we have great conversations coming up. we will speak to tatiana, a portfolio manager. this is bloomberg. ♪ dani: it's

. >> credit suisse ceo thomas gottstein dismissed what he called a stupid question, over whether theof a takeover bid from state street. this is the bank posted its latest profit warning. for more, let's welcome our next guest. the ceo is still holding out hope for a profitable second quarter, what did he have to say? >> that was today's headline after they delivered yet another profit warning yesterday. they are saying that the losses have piled up this quarter. so it sounds like the ceo is still holding out hope. based on the information they gave us yesterday, it seems pretty grim over there. haidi: what are they focused on strategy-wise on the ipo? jennifer: we had a bloomberg news exclusive of them putting their brakes on plans to expand in china. they are going to focus on getting costs under control. there was a story earlier this week that they were thinking about layoffs again. this is just showing things up and taking the focus back to turning a profit. it is hard to do when two of your biggest businesses are so reliant on the markets. so i think you are seeing them trying