joachim fels will be sticking around with us.loomberg. ♪ ♪ vonnie: it is time for the bloomberg quick take where we find back on issues of interest. for the past few weeks, paris has been angry and violent. tomorrow is expected to be no different. a supporters of yellow vests hit the streets. this started over plans to increase feel taxes -- to increase fuel taxes. french president win oh macron scrapped it. scrapped it.acron the unrest is beginning to dent france's economy. on top of all that, macron's reforms will likely call france reach the european union's ceiling. about this onore bloomberg. pointet's pick up on the and talk about what we have been seeing in france. the unrest is showing up in the data. we have pmi data for france. falling below 50. joachim fels is still with us. joachim, we are seeing the spread widening out. is this just a temporary move as france go through this convulsion, or is something broader here? joachim: there is something broader here, guy. europe is in for a rough ride. theave the conflict betw

francine: thank you so much, joachim fels of pimco.our exclusive interview with stan druckenmiller. this is bloomberg. ♪ francine: this is "bloomberg surveillance." tom and francine from london and new york. a big change at one of the best known teams in any sport. manchester united says general ninho is out. easton -- now is joe marino --nager is a orinho is out. joining us now is joe easton, and joachim fels is still with us. liverpool are fighting for the league title. awayleaves them 11 points from the champions league place, which is important on the financial side. it is important to be part of the champions league. francine: i had a beautiful note that i looked at today by jeffrey saying manu is still a great buy because of netflix wanting to buy content. they make -- does it make a difference? reporter: the jeffrey's note was really interesting because it said live tv advertising is becoming more valuable because netflix are eroding the value of scripted television advertising. from earlier, the champions league is the real thi