laura cooper breaking it down. laura: this is market bytes. we give you three things to think about when it comes to markets. this week, it is all about nft, hot housing markets, and the u.s. dollar. nft's, non-fungible tokens, these are blockchain based records of information tied to a particular digital asset, ranging from video clips of sporting events, to a tweet, to an online image. anything that someone can find value in can be digitized as an nft and sold on cryptocurrency markets. a photo montage sold for nearly $70 million in a recent auction. that is the most ever paid for digital art. there are skeptics. but when anything can be digitized, the trend is gaining popularity. hot housing markets. extraordinary government stimulus has put residential property into an investment sweet spot. with home prices shooting higher across major economies. while the hot streak in housing may cool as interest rates rise, residential real estate has performed better than equities across major economies over the past five decades. while returns were c

bloomberg's laura cooper, thanks a lot. drawing us now is seema shah, principal global -- joining us now is seema shah, principal global investors chief strategist. are you buying at these highs? seema: we are concerned about the vaccination rate. it is great that they may have supplies, but i think they have done a lot of damage in vaccine acceptance he rates. i thing that is going to continue to weigh on the european outlook. yes, they will eventually reopen. the thing is that europe has got a long way to go, and it's got to get there when that next wave is expected to hit. they do have a bit of a deadline they need to get on with to convince us that europe is an attractive place to be at the moment. guy: they are cheap, they are cyclical, and they should in syria benefit from this pickup in the economy driven by the united states. it has taken a long time to get back to pre-pandemic levels. why are we buying cyclicality and value in the united states, but not buying it in europe? seema: i think it is what you said, which

we discussed that with upmarket life team, laura cooper, next. -- with the market live team, and laurais bloomberg. ♪ anna: welcome back to the european market open. moves to the upside, broadly speaking. the same cannot be said for the banking sector. they are under pressure today. all of today's session is in the red. let's get to the broader market picture. joining us now is laura cooper. today is ecb day. a lot of narrative yesterday was around the of canada. there is suggestion there will be questions about the policy. i wonder if it is too early for all of that with any parts of europe still in the heat of the pandemic? laura: it is likely to early to hint at tapering. i think there are probably two key things that market will want to look for from lagarde today. one is on the significant increase in pet purchases. if we look at what has come through in the data, it is not materially higher. she will be pressed on what is that, the extent of those purchases going forward. we are not expected -- expecting to see any change until the june meeting. that is when we look at the new fo

joining us to talk about the equity indexes is laura cooper from our mliv team. is this catch up? e because we saw exceptional price action in the u.s. on the back of that robust u.s. data. there is scope for catch up. i would question whether we will continue to see the exceptional pace of gains that we have seen. if we look over the last quarter, a lot of the stoxx 600 gains has been driven by banks, autos, and travel and leisure sectors, climbing 20%. given the fact we have renewed lockdowns and a sluggish vaccine rollout, we could potentially see some stumbles after some catch up today even though the ultimate story is europe will recover, and there is a cyclical story for the broad and european equity backdrop. matt: the recovery in the economy we are seeing in the u.s. is eye-opening, from the numbers that we saw. the numbers last week and this week, the nonfarm payroll numbers, what does that mean in terms of yield? laura: we are seeing yields in this steady state around the 170 range. we are not seeing the growth impulse seat through into treasuries, but i would caution abo

anna: thank you for joining us, laura cooper appeared -- laura cooper.o the earnings. nokia shares jumping. we speak to the ceo pekka lundmark. this is bloomberg. ♪ anna: welcome back to the market open. weakness for autos and that related sector. elsewhere, we see and move to the upside for european equity. also doing well, shares in nokia . they are soaring after reports that first quarter sales beat estimates. the new ceo, pekka lundmark has advanced on a restructuring plan that sets out research and development. nokia seeks to take back market share. pekka lundmark i am pleased to see -- i am pleased to say pekka lundmark joins us now. your numbers were much higher than anticipated, what did you manage to deliver on? pekka: it was a great quarter. we are seeing growing demand in 5g. also, because of the pandemic we have seen a lot of increase in demand for fixed connections driven by work. we have 9% compatible growth. anna: you talk about remaining alerts to the limited set conductor availability, but you say that the chip shortage is not material.

we will talk from laura cooper.welcome back to bloomberg markets, this is that european open. we are almost one hour into the session and we're still looking at green arrows across the screen. about a third of them are in the stoxx 600. joining us is laura cooper, macro strategist, let's talk about the fed meeting. investors seem to take powell at his word, any inflation that he sees will be transitory and he is not going to begin talking about talking about tapering. laura: that appears to be the case. there was not any new information coming from the fed. they said they had a unanimous tape towards policy. they are not worried about inflation. what is interesting is the fact that some members want inflation to so-called, run hot, around the 3% mark. i think that will percent a challenge -- present a challenge to the fed struggle in terms of keeping those expectations anchored. next week we will have prints that will show the excess from a year ago. it should be more challenging from the fed to maintain that same p

this is the view of laura cooper.anna: welcome back to the european market open. 52 minutes into our trading session. it is eight minutes before 9:00 in london. modest gains across the european markets. we are waiting for inflation data out of the u.s. that is the big news anticipated for the day. let's speak with laura cooper. good morning. inflation data do later on. there has been so much said about this inflation print and how high it is going to be. what also matters is how long it remains at elevated levels. laura c.: we are expecting the headline i sprint to come it quite high. that reflects the fact that we did have headline prices fall a year ago owing to the base effects, the decline in energy prices. we are seeing signs of price pressures and terms of rising energy and food prices and we also have the supply-side disruptions feeding through. i think, if we do see an upside surprise, i would expect that to spark bond volatility. we have seen rate hikes be slightly priced out in the last month from the fed lo

anna: thank you, laura cooper, mliv strategist. that is it for us on this program.rly addition is up next. -- "survellance early edition:" is up next. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are.

our macro strategist, laura cooper.teammates do by writing mliv go on your terminal. i had to jerry rig away to find it, it would be great if there was a live button. that is it for us. bruno le maire is joining francine lacqua. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. >> we are not seeing a systematic debt crisis, we have a world recovering strongly. >> a lot of goodness. also a lot of bad news. new variance of the virus. >> this is "bloomberg

joining us now is laura cooper, bloomberg's mliv macro strategist. to or near record highs in almost all equity indexes, we have not really seen a lot of big swings this week. it seems like volatility has kind of come out of this trade. laura c.: it's been kind of a quiet week. we saw this holiday shortened week in europe. we are seeing quite thin liquidity. we see a positive terms of equity auctions as well. i would expect that that is going to turn significantly next week. we do have a number of supply issuances ahead. we do have those cpi prints coming in the u.s. on tuesday. that really could be the next catalyst for markets. for right now, we are just in this wait and see period. matt: you know what? it should be, it could be, but as cudmore writes, don't be surprised, inflation is coming. it's not a scared. we just got a confirmation out of china. we had so much data already out. this week, we had incredible pmi data after the jobs number on friday. we had a the imf meetings in washington, the fed minutes, and then every single fed governor has

laura cooper here in london joins us with analysis on where we are with these markets.ding football, it seems we are stuck in last week. we are really looking for some direction here. laura: that does appear to be the case. you can look at different narratives and try to pin point action to those. what could be the catalyst for stocks this week? we had the crypto crash over the weekend. we have rising global virus counts. another record. at this point, it is crucial to see that yes, the path for least resistance for stocks appears to be higher. bonds on the back foot in this period of consolidation but it is too soon to declare the all clear because there are a number of potential catalyst this week. anna: earnings season has already started. the question you have been asking is how strong and earnings season is already priced in? with equity markets and certain parts of the world not far from record highs, you have to wonder what is expected with this earnings report? laura: if we look at the s&p 500 in the u.s., the eps year on year estimates are expected to come in a

we will get the latest with laura cooper.. ♪ anna: welcome back to the european market open. 54 minutes into the european trading day, looking really positive. let's talk to laura cooper, bloomberg's mliv macro strategist who joins me here onset. -- on set. after the drama of yesterday, the big moves in treasuries, 1.58%, we dropped a long way in terms of these yields in recent sessions. yesterday, we saw very strong data, and a lot of buying of treasuries. that confused a lot of people. was a spur of the long run april trend where we've seen bond buying and yield falling? laura: i think the price you mentioned was puzzling because we did see treasuries tumbled by the most since mid february. we had a debate on the mliv team about what is behind that move. it does appear to be the case of positioning unwind. it doesn't change the long term change the climb higher going forward, but it does point to potential risks of u.s. groath exceptional -- growth exceptionalism. we have seen the fed come out really convincingly with the r

we will get the latest with laura cooper.e going into a time of faster growth and job creation. the major risk is we will have another spike in cases, and one of the virus strains. over time, the u.s. euro budget is on an unsustainable path, the death -- the debt is growing. the current level of debt is unsustainable. the current level is very sustainable and there is no question of our ability to service an issue that kept. most members of the committee did not seat raising interest rates until 2024. that is not something we bode on or act on as a group. it really is our own assessment. anna: jay powell they're saying central bank will likely scale back. giving some sense of the order in which tasks will be completed. 53 minutes into the trading day. we have some modest gains coming in. laura cooper joins us -- joins me on set. good morning. something a little quieter in markets. did we learn much from jay powell last night? he was talking about the inflection point. some of the lines we heard before. laura: the comments he

we discussed what to expect with the market live team's laura cooper. that's next.na: welcome back to the european market open. european equity markets are open and to the upside. laura cooper joins us, bloomberg lives margaret strategist to take us through her start -- macro strategist to take us through her starts. let's start there and think about what we are watching for. some of that is from the fed. some of that is on the data. some of the data last week was really strong. last friday, we got those sales numbers, the strongest since the 2006, by any credible reference point. what is going to be a highlight for you? laura: quite a busy calendar like you mentioned, and i think we're going to see strong economic data come through in the u.s. that will likely be captured by that first quarter gdp print, which is due on thursday. we're expected to see the u.s. economy return close to pre-pandemic levels. the question is for the fed. they are likely to continue to have this patient stance. they're really waiting for this substantial progress in terms of the data. bu

let's get back to the infrastructure push and talk to laura cooper. with us this morning. good morning to you. long-term productivity gains and expectations for them, hopes for them, difficult to see. selling of stocks as a result of concerns about higher taxes sometimes seem more visible. we did see gains in tech stocks and gains in things linked to electric vehicles. what is the broad market interpretation from what we heard from biden and the infrastructure plan? >> i think the broad market implications are that markets are largely unsurprised by a lot of the details. expectations are broadly met. we are seeing renewable trades in bid. that is a big part of the spending plan. for markets, it is a case of how much can this package deliver? at the end of the day this is likely to face fierce opposition from republican lawmakers. there is a question of how much can come through. and then there is the question of, this is over an eight year time horizon. shovel ready projects are not easy to come by. it is likely the impact on growth is going to be spread out over a number

you for joining us, laura cooper, our macro strategist. that is it for the european market open.xt. european markets treading water. this is bloomberg. ♪ pres. biden: i made sure we had 600 million doses of not johnson and/or astrazeneca. >> the fda is the gold standard for ensuring the safety and effectiveness of the vaccine. >> that is why you see the word pause, you want to hold off for a bit. >> this is bloomberg surveillance: early

joining us now is laura cooper, the markets live macro strategist. subject of inflation because that is the big thing of the week, a big thing of most weeks i can think of lately. because we've got the inflation figures coming out in the u.s. tomorrow, what expectations look like and what the market is waiting for when it comes to that narrative. laura: it's going to be about the u.s. inflation tomorrow. markets are expecting we are going to see a spike in the headline print to about that two by 5% rate. that -- 2.5% rate. that's because we're going to see the base effect from a year ago. we also have climbing energy prices. from a markets perspective, the challenge now is we are in this goldilocks period for stocks improving growth, improving earnings expectations, whereas at the same time, really a contained environment for yields, supportive monetary policy. so, we do start to see those price pressures begin to build and we start to see the fed rate hike expectations ramp up once again. we could potentially see that spook stocks. clearly, that cou

laura: thank you. china says it is willing to cooperate with some countries over climate change.ent continues over which of the major economies is the biggest polluter. our science editor reports. >> china is the world's greatest factory and biggest polluter. america is the second-largest. together, they account for nearly half of global emissions. >> we cannot wait any longer. we see it with our own eyes, we feel it, we know it in our bones, it is time to act. >> he is reversing the trump years by sending his envoy john kerry worldwide. he was in the u.k. last month, and crucially, china now. >> we cannot solve the china issue without china beginning to reduce their emissions. this is the key. biden has to figure out a way to compel beijing to cut emissions or all the efforts we are making domestically are going to be effectual. >> one of the arguments is over which of these giant polluters should do more. china releases about twice the u.s. global emissions. america has submitted about a quarter of the greenhouse gases emitted since 1750, whereas china industrialized relatively

fedex released a statement that it is cooperating with authorities and working to get more information. now back to our regular programming already in progress. laura: give us the objective metric, when kids go back to school, we know it is not dangerous, when can we get our freedom back and always moving the goal posts. the guardian rushed to defend him. >> in what world does and unelected bureaucrats get to tell american citizens when we can exercise our god-given liberties, our constitutional rights, our first amendment rights. you can't go to church, can't go to school, can't go to one's funeral, can't assemble, for a year citizens haven't been able to come to their capital to lobby their representative to petition to them to recast their grievances, they can't do that and if you speak out against doctor fauci you get censored, you get attacked, he has been attacked companies with physician, medical school professor from stanford, even that's not good enough for the radical left. that is what is driving me crazy and we would like to know, you are one of the first point this out on your show. the american people are tired of this, just tell us w

laura was just making, mr. floyd may have done something wrong but in the end he cooperated and this was the result. listen. >> you're asking questions about what the other officers were doing. >> that's correct. >> your attention was focused on mr. floyd, correct. >> yes, it was. >> mr. floyd didn't drop dead while you were interacting with him, correct? >> no. >> nothing further. he didn't have a stroke while you were with him? >> no. >> he was never given narcan, correct? >> correct. >> he didn't stop breathing? >> no. >> his heart didn't stop. >> no. >> he didn't go into cardiac arrest? >> no. >> he didn't go into a coma? >> no. >> and you took him to the hospital, correct? >> correct. >> he was monitored for two hours and released right after? >> i don't know. >> nothing further, your honor. >> i wanted your perspective, chief, effective in my view of the prosecution using the defense witnesses to make the point laura coates just made, that the difference between arrest number one and arrest number two was derek chauvin. >> yeah, there's no question about it. if derek chauvin and the other thre

greenberg himself before they do a cooperation agreement, before they do a plea to see if that inartful statement is true and how mr. greenberg presents. >> lauramean, given the number of charges against the -- this guy greenberg, any sense of how many charges could -- i mean what kind of an impact a plea deal would have on his potential sentencing? >> well, normally it would be in a plea agreement, even with the scope of charges, there might be some that they're willing to reduce in terms of either what they're going to ask for of a sentence, if they do plead guilty, or reduce the number of charges or even as a possibility you could have a multiple number of convictions but ask for sentences to run what they call concurrently. meaning it's not going to be back to back to back to back to get the wide soap of charges. but it also signals to a lot of people here, to norm's point, maybe who is not being asked to cooperate. sometimes when the defense is trying to tell the world, hey, here is who we have information on, it might signal who the government is interested in finding out information about and who does not -- who is not in the good graces

laura coates. given what we now know, this latest reporting from "the daily beast," how concerned should the congressman be, congressman gaetz? >> any time you have an associate who's been indicted and has someone speaking and cooperating to give information, particularly if you're the bigger beast in the relationship, there's cause for concern. the idea that someone's willing to put on paper they witnessed some events, that they were aware of financial trial transa, that's pretty big. if it can be corroborated with other details, that's a very, very damning thing. >> how much does it matter that greenberg and stone could be on the mt. rushmore of sketchiness, right? you have two guys here based on the allegations of greenberg and stone are so shady. >> the mt. rushmore sketch is very, very wide in terms of criteria. the fact that you have these figures that have loomed very large in terms of indictments, there's had to be a pardon for one, this does not bode well for your relations with another. if this was a let theter that w written in context to provide inform frgs greenberg and you say, hey, i have more information, that's a carrot to dangle in front of a former president or has a close tie. understand, this is a

cooperate with u.s. immigration and customs enforcement. stuart: elections have consequences, don't they? thank you. republican governors sat down with fox laura roll tape. >> the biden first 100 days has been very successful for the cartels, for the drug smugglers, for human traffickers who are profiteering off of all the migrants who have come across the border illegally. here's what we want to do, the deal i want to cut is texas will secure the border in the biden administration will pay for it spinning this administration as heartless as they created this crisis at the border and they are putting these children at risk by the policies they eliminated that we all know were working. stuart: it's a border crisis all right. on your screens right there. now, daniel garza joins us the president of the libra initiative. you work closely with the hispanic community and you're part of the hispanic community. what is that community saying about biden in the border crisis? >> currently, we are having 162,000 folks that encounter migrants who came through the border just in the last month alone in april, and 17000 unaccompanied minors. the system is o