and those who are in charge the vaccines are wonderful munjal god has said hugh morgan is going to be resistance and the like there is resistance but the chinese vaccines because we're not they're not known for for for medicines if there had been a public but i kept pressing and pressing and. i know we were a little late or i don't excuse myself i think we would not be in this situation if we had signed. firm commitments when we adjourned the whole cold war we never took sides well it's truly belong to the west of the alliance but it's true also that the number of sites that when the height of the cold war it was the 5th it's reached out to russia to the soviet union and establish diplomatic. because we knew that's the only chance. well today marks an important milestone in the easing of the u.k.'s covert lock down non-essential shops and pubs with a big audience are now allowed to. reopened and although there are still plenty of limitations in place though it seems that people are enjoying it so far let's get more details on this. stuff you joining us here on the program can you talk

hugh gimber, j.p. morganglobal market strategist. the eu's health commissioner says the bloc is still working towards its goal of vaccinating 70% of adults by the end of summer. we bring you the comments next. this is bloomberg. ♪ ♪ anna: welcome back to "bloomberg markets: european open." nine minutes into a european trading day that is turning to the green, a little positive this morning, up around 0.25% shall we say on european cream markets. let's take a look at some of the stocks on the move this morning. dani: a lot of the ad companies are on the move, really driven by publicists saying that first-quarter earnings not only beat but they see pretty strong expectations going forward, thinking they can make up about 60%-80% of the earnings that they lost in the second quarter of last year in this coming quarter. abb, the swiss engineering giant, has upgraded their outlook same for the full year they see a 5% increase in earnings. previously, they estimated a flat year, so now seeing their earnings being ab

wages aren't rising wages don't go out but there's hughes transfer payments from the government it seems like markets except that in some way though j.p. morgan does point out that the opening the 1st quarter it's to 2021 it's been the worst bond market since the eighty's so they they're suggesting best bond market thinking there's going to be pricing and huge inflation so right while the bond signals on the 30 year bond clearly shows a downward trend it's currently 2 percent yield on the 30 year and there's room for it to go 2.25 percent 25 basis points so we'll see about that the next 9 months if us is becoming more like french than this which psychologically in america you work to take time off and in france you take time off and work is something that just allows you to take more time off right it's a completely different psychology we've lived there for many years we know how that goes in the u.s. you get 2 weeks vacation and many americans don't take the full 2 weeks in france to get 8 or 9 weeks vacation and that can be stretched out to 12 or 13 or 14 weeks of vacation and that's the psychology is that work is an necessary evil to take

hugh, thanks. grate reporter cnbc.com guy, i'll go to you first, how does that make you feel that morgan stanley could have loss $10 billion. is it make you feel oh, my gosh i can't believe that could have been the hit to morgan stanley >> so the answer is yes to both. good for morgan stanley. good for goldman sachs they have risk management in place. people at very high levels at these banks, something that we talked about value at risk, every single day those numbers were looked at at goldman sachs and morgan stanley and i'm sure they look at today and i'm going to get mad at a lot of people and there is a reason it is called second tier banks and it is playing out right before your very eyes and $4.7 billion loss and the world has changed a loss and that was the aggregate loss that element took the banking system down in the day. and bill wang, and i don't think i'm speaking out of turn, he pled guilty nine years ago and they paid fines between $45 and $60 million and here we are back in business, it speaks volumes as the amount of liquidity and people keep going back to the well that is a the bigg