lisa: nice to meet you. delving into her past, hoping for answers to the questions about who she is. linda is searching for her biological father. lisa: so, you gathered all of this together, and what does it tell you? linda: nothing adding up. more questions. like, i'm just not getting any answers, and it's just getting more and more confusing. lisa: when linda was eight, she made her first holy communion, and a family secret was revealed. linda: that was the same year i found out that my dad wasn't my real dad, so it was a big year. lisa: the devastating discovery about her stepfather not being her dad hit harder when her mother admitted she'd almost had her adopted at birth. lia: it was such a scandal, to be an unwed mother e was very ashamed, so she went to sydney to have me and to--i was to be adopted out from sydney. this is a photo of my mom that was taken on the manly beach after i was born. always reminded me of what i didn't know and the unanswered questions and what did she go through. lisa: but a

lisa had meghan. kevin had cody. >> kevin was always good with children. >> this is a family friend who has known kevin all his life. >> good father. >> good father. >> dedicated father. >> absolutely. absolutely. >> kevin was a jack of many trades. a truck driver, a school bus driver, an emergency medical technician. lisa dedicated her life to social work, helping in caring for sexually abused kids. kaitlan was one of lisa's coworkers. >> she just wanted to help people. we worked in sex abuse. that's a very difficult subject a lot of people can't deal with. she really prided herself on helping these families and being able to help, you know, make a difference. >> everyone admired leases selflessness. her friend, carry, also worked with lisa. >> she took in foster kids while she was a single parent and was raising her own daughter, by herself. >> that feels like, sort, of going the extra mile and then some. >> she did. she was always there to help anyone who needed it. >> one year after kevin and lisa

lisa: this looks formal.ious manner, there's not necessarily saying should i buy it or not buy it poll. tom: alex webb joins us, bloomberg opinion columnist and a guru on twitter. how does twitter respond to this? how does the management of twitter respond to this one weekend this the next week? alex: there are two things at play, the financial and influence peace. as far as elon is concerned, this is about influence. if you a director of twitter or on the board of twitter, you are looking at the financial peace and value for shareholders. this is a premium to where was at the end of january and significant discount six to eight months ago. clearly you could make the case that price was inflated and not justified but if you are a twitter shareholder, you are maybe thinking at -- thinking maybe i could expect my money from this. lisa: how much is this a bid to take it private? elon musk says twitter has extraordinary potential and i will unlock it. we see shares up more than 12%. what does this mean if this co

lisa: they st.ouis fed president came out and highlighted the pressure, saying there is fantasy in policy and a neutral is not putting downward pressure on inflation, it's just keeping things from putting upward pressure on inflation. how to get the sense that we are seeing a response, even the perceived tightening of fed policy, to give us confidence that we cannot go up that far when there are many signs of sticky inflation? michael: you are starting to see some signs, may be prices rolling over so much, but the demand side starting to push back a little bit on these high prices, whether it is used cars, new cars, housing, food or energy, airfares or lodging, you're starting to see a sense that consumers have probably had enough and they are getting to their limit of the price increases. you have seen mortgage refinancing and mortgage activity plummet in the face of higher mortgage rates. that is obviously a very interest rate sensitive sector and i think that we are already starting to see a reac

too close to lisa. >> in fact, lisa wrote cut the dam cord. spending too much time with her, and less with the real family, thanks a lot. lisa also became concerned about the relationship sabrina hard with her daughter haley. >> she acted like a mother to haley, on a regular basis. >> it may listen comfortable. >> lisa was not happy with, it no. >> it seems like one on things everybody agrees on is that sabrina was fixated on, fascinated with haley. >> she was. i think she was infatuated with the whole family, and she

lisa, on the year down 20%. lisa: just amazing. especially given the fact those losses continued after the bell. we see them heading into the open, particularly alphabet, as everyone says. today we are watching european unions coordination -- gas coordination group. they're going to talk about some coordinated effort. i'm curious to see how much noise there is made about the number of buyers who have already submitted payments to russia in rubles as gas prices off the highs as we saw at the peak of the conflict, however heading upwards. get march pending home sales. i'm curious to see how much they slow down. as the fed curtailing some of the momentum with mortgage prices at the highest level going back to 2010? yesterday we saw prices climb at the fastest pace going back more than two decades. that might start coming down if the sales start slowing. at the market facebook reporting earnings. there are 170 seven s&p companies reporting earnings this week. this is the busiest week for q1 earnings, and it has been mixed. that is what

i'm lisa mateo. this is bloomberg. ♪ >> what is playing out in yen right now is so reminiscent of what happened in september 1992 this bank of england and the pound. the bank of japan's fantasy that they can keep a lid on 10 year jgb's at 25 basis points, the currency market is laughing at that. jonathan: chris verrone was laughing at that, too. good morning. futures look like this on the s&p, on the nasdaq, too, up by more than 2% on the s&p 500. this from the equity team at jp morgan. "energy remains our highest conviction overweight sector with earnings growth and multiple rerating -- multiple reratings still." tom: it is fascinating. this is a recapitulation of their outstanding 100 page opus of about a week and a half ago. christyan malek writing it up. what to me is fascinating is a completely reset with an $80 benchmark was everything geared higher, and they say the energy sector, and they walk through four or five or six metrics. jonathan: on the year this year, that sector on the s&p 500 up

lisa: can you comment on stability?ability are they talking about given that people are saying this policy is bringing instability? enda: toward the end of last year at the economic policy meetings in china, the word "stability" was used quite a bit. october or november is the party conference when president xi's impairing is expected -- president xi jinping is expected to get a third term. to keep things stable and on an even keel, that's being tested on so many fronts. russia's invasion of ukraine, china tensions in the spotlight, and spillover inflation in economy -- in markets. the zero approach is causing -- on the ground. there is a lot of pressure swirling around the government when at least needs it. they are managing it so far. there is a chance inflation will come into control but nevertheless there is a lot of pressure on government strategy. kailey: let's talk about the government's or policy role, and shoring up the economy. what is the real expectation in terms of easier policy coming from china? enda: tod

lisa: i think i did ask. jonathan: pretty sure lisa asked. tom: she was delicate.athan: you two are so low without me next week. have fun. this is bloomberg. ♪ >> keeping you up-to-date with news from around the world, i am ritika gupta. the war in ukraine is entering a new phase six weeks after putin launched the invasion. ukraine may have weeks to obtain new weapons for eastern fighting in the country. dozens of refugees were killed today after russians allegedly fired a missile at a train station. global food prices are rising at the fastest pace ever. the war in ukraine has choked off supplies leading to panic about shortages of key staples. according to the united nations, food prices rose 13% last month. in costa rica, a jet broke in two after its get off the runway. two pilots escaped without serious injuries. they reported hydraulic problems with the 757 moments after takeoff but returned to the airport. spirit airlines has agreed to have talks with jetblue over the takeover bid. spirit says the offer could lead to a superior proposal. jetblue topped the of

lisa: you frame it perfectly. we are dealing with the pandemic and now war and then we are dealing with inflation and the trick a lot of facts of all of these escalating prices -- crises. how do you grapple with that as a monetary system is turned on its head with unprecedented actions by central banks, unprecedented inflation in many areas of your life. tom: without question, this is the most packed day. we have bank earnings out, we saw wells fargo, should ali bostick -- sonali bostick's work there. and yes we will do twitter and elon musk but we are focused on the set of crises and we see it with the food inflation and numerous countries right now. i think what we want to do is get right to the morning brief. let's do that with kriti gupta. ritika: let's talk -- gerard: let's talk about what we are going to expect with some of these bank earnings. we already had wells fargo earnings but we need to talk about what else we will hear. we heard credit losses are likely to accelerate from historic lows. they bracing

lisa, your thoughts? lisa: it will be interesting to see what they go after in terms of leverage given the fact that he had 1.5 billion dollars in actual ownership, already $5 billion exposure, also how this factors into the banking sector considering a lot of the losses were born by credit suisse and nomura. tom: paul linda and bulgaria cut off from the russian gas. moments ago, the euro down to new weakness. 1.0582. jonathan: just to frame the weakness of the last year, we had a 1.03 handle in 2017. they don't want the dollar at 1.06, but what are they going to do about it? talk about hiking into the summer with inflation where it is? what about growth? that is the rock and a hard spot that the ecb is in this year. tom: what do you see in the data screens that matters? jonathan: this bounce is not a convincing month. we all got up this morning, saw a move on s&p and nasdaq futures around 1%, and now we are up about a third. apple and amazon coming up tomorrow. tom: we try to speak to people that are tru

lisa: why isn't zero?we're talking benefit that's becoming restrictive, why is it still negative? jonathan: the question about the fed is that they haven't gone big enough. tom: let's talk to an adult in the fixed income market. buried in your note is the heart of the matter in the yield made up of a subset of three or four key things. what's happening here is what's not happening. you are looking at expected inflation and term premium and they are not moving, are they? >> no, it's where do you think the fed put the policy rate relative to the inflation rate. secondly, what do you think the inflation rate will be? tom: i have to interrupt, we don't do them on the black -- on the back of an envelope. on the bloomberg >> rico bonin's, what is the inflation rate and as a long-term investor, what is going out on the yield curve and using the term payments negative. it's a very flat curve, it's more like a yield divine. investors are not asking for much as far as stepping out on the yield curve. you can't use t

lisa, at the economic data.orrow we get the important cpi report, and i believe i am looking at a new statistic on survey, 8.4% topline inflation. lisa: it will go to a .5%, the highest since 1981. this is a huge -- it will go to 8.5%, the highest since 1981. do people care or will it be an old story we have to look to the earnings to figure out, how long does it last, when do we see some kind of end and roll over, given the fact that it is not just the conflict in europe, it is that china is in lockdown again. all the base effect is not rolling the way people expect. tom: videos of shanghai and the skyscrapers were something. we will touch on that later. we are thrilled you are with us on a monday. wednesday into thursday, thursday, the meeting of the world bank and the international monetary fund. stay with us. yields higher. ♪ tom: good morning, on radio and television. jonathan ferro in needed sabbatical. kailey leinz doing double duty. she picked the short straw. it was a disgrace that kaylee had to come on

tom: that is the lisa we know. we have today grass to the cross moment, the dynamics of the equity markets and the signals with amy wu silverman from rbc capital markets. there is a new volatility around once-in-a-lifetime events like the war in ukraine. what is the exact precise volatility signals you see in the equity markets? amy: good morning, guys. it is very bifurcated. we continue to see large hedges placed more in long-duration. in the near term we see a lot of optimism from option markets. people placing bullish trades. part of that is related to earnings. the environment is interesting. we consider that medium vol. with over 20 and 30 years, medium vol is not great for stocks. lisa: given the fact you are seeing optimism and options does that mean traders are not pricing in a hard landing or from the risk from russia? amy: that's a great question. the auction markets are short-term fairly bullish but longer-term they are still quite bearish. i think there is an acknowledgment of potential recession, of po

lisa, advise on the morning. lisa: it is actually a really busy day, this is where we get the earnings kick off that we've been waiting for. we are not sure exactly when it will come out, probably by the 8:30 a.m. call. this follows a pretty big drop in gp more than shares -- jp morgan shares today. the market wavering around. how much does it look ahead to the economy during the rest of the year? does it highlight consumers who are trying to pull back because prices have gotten too high and they are not willing to pay them? data follows the cpi yesterday. the headline number yesterday came at about expectations but it was read as below expectations because of that core figure. what we see from ppi expected to surge well above 10% year-over-year? how much can we see the war in ukraine affecting prices, affecting outlooks, and frankly, what does that mean in terms of profit margins and in terms of prices for consumers on the other side? the bank of canada's meeting at 10:00 a.m., i am actually watching this pretty

. >> this is bloomberg surveillance with jonathan ferro,, and lisa -- jonathan ferro, tom keene and lisa abramowicz. tom: kailey leinz will not join us. she is still on sabbatical. jonathan: 2 things catch my attention. utilities are outperforming, the banks are underperforming. back in the yield curve through april a big move for the 10 year. tom: you literally say to yourself " how far are we from a 3 year 10 yield?" you look at the momentum that is here, and a lot of people saying " the momentum pulls back, it ands -- ends." jonathan: much more interested in the back half of this year, many people are. what i'm interested in is how the fed will respond. i look for guidance from fed officials. respond to a mechanical pecan inflationary year-over-year -- eak -- mechanical peak in inflation year-over-year. tom: end-of-the-year, july 27, september 21 fed, the ecb has the same calendar. it is a total mystery. lisa: they have a more difficult scenario. what a way to start the show. you have" lisa abramowicz, i forget your name-- it is fair the ecb is in a worse position. does the fed to hav

lisa: maybe it is a .6%, higher or lower. the spread between economists' expectations is wide, the highest going back to 1981 on the precipice of the fastest tightening cycle that we've seen from the federal reserve going back decades. tom: we spent a lot of time framing out the rate of change and speed of movement. what is full faith and credit to you? what is that signal to fixed income wall street? lisa: there is one thing about today is number, another if we go back to an inflation rate that seems familiar over the past two decades. are we looking at a new normal the higher inflationary rate which means higher benchmark nominal rates on treasury yields? how much are we looking at that as the new normal, and what does that mean to the trillions of dollars of assets that have had near zero rates for so long? that is still unknown. tom: we start the show at 6:01:20 wall street time. it is auction time at bloomberg surveillance. we are at a point, seriously, where the price movements are so

lisa: i can.joining us now, gentlemen that nailed shakespeare in school, senior -- senior portfolio manager at morgan stanley. i love andrew. you say, do your research, do your homework and look out for maximum growth scare. what is the maximum growth scare look like? andrew: i think a market will end up near 5000 at year end, but i suspect at some point the anxiety around the fed will lead to the, you know, a greater scare on recession, and we could see 3800, down 20% from the peaks, and i think that is doable the first half of this year. my argument has been, this year is a battleground between the fed pivoting and the positive, that continuation of good corporate fundamentals. it will lead to a subpar year, but that is off 47.7 8 -- 477 eight, which is where we began the year. the returns for the rest of the year could be very, very attractive. i think the lows will be on the maximum growth scare that the world as send it. that reminds me of 2011 where we had a peak to trough decline of 20%. fu

lisa: what does that mean?his idea of the fact that there seems to be complacency with certain risk assets. where is that complacency? how disruptive could these tightening cycles before market? glenn: it depends on how far the fed feels it has to go. you mentioned before about the possibility of several 50 basis point hikes. the fed will take a look and see what is happening in the economy. i think we are in an inflationary bloom. there is a lot of wind at the back. i think the fed will have to take fairly old action, not like paul volcker in a bold. lisa: do you believe you will see a federal funds rate? glenn: i do not think you can rule it out. it is not an event weekend forecast today. but i do think the fed should be prepared to do what it takes and the market believes it will do what it takes to put the genie back in the bottle. tom: moments ago, a world-class economist just came out with a stunning headline which directly addresses the scene. dean hubbard, he says not a period of normalization, but a ne

lisa: exxon tripled their share buyback.d not boost their dividend but they are expected to later in the year. how much does this make business sense for them? maybe it doesn't make sense for them to boost production or is this something where they see it is no advantage because of this how the supply chains are now but longer-term would make business sense. >> i think you can make an argument that they could increase their revenue if they did increase production. if you think production will not bring oil prices down that much, these other geopolitical factors are with causing prices to rise. wti is up to $106 per barrel and germany says it won't oppose an oil embargo against russia. that's not something that increase of darrell's per day in the u.s. will combat. if you are looking at the long-term picture, it does make sense not to shell out a lot of money in a hasty way to try to increase production that you might not be able to because of these other factors. instead, it makes sense to pay down debt and do these share bu

lisa: it is just hilarious.fter proposing that they turn their headquarters into a homeless shelter, and people weren't exact lee sure whether he was serious or not, and twitter took it on its face value and basically said, what does he want from this involvement? he said he would take a passive stake. then twitter offers him a seat on the board, saying we value your opinion, trying to get ahead of him so he wasn't the enemy from outside. he rejected that. so what is he going to do with this stake? tom: i'm speechless. help me here. why does he have a different rulebook than everybody else? i don't get it. kailey: i don't know if anyone knows the answer to that question. he is the richest man in the world, so you have to keep that in mind. tom: i don't agree with that. kailey: on paper? tom: i do not agree with that claim back to the securities exchange act of 1934 and 1933 as well. if we had that attitude back then, we would still be in the depression. kailey: fairpoint. but it does raise the question of whethe

lisa she is unique.ur memory, as long as we are alive, i think i will show you all those who knew her. she will live in the memory of gratitude to all these all all the kids all the children of their parents whom she helped. well, history does not know the subjunctive mood, but look, and now, suddenly yours wrote, do not go, to the series and somehow. well, that's all the circumstances, it would seem that they should have prompted that well, it's not worth it, it's not worth it. what is it from your point of view this person feels his destiny and does not resist it or something i can only say that if she decided that you would become impossible. she wanted to go there, she went. what did she feel behind it? i don't know, she even mentioned that it might happen in her speech. e under the president trust me. i know what i'm talking about, that is, the desire to help is stronger fear for oneself. she knows that this path has long been chosen or he chose her. so she just walked along it and didn’t ask questi

lisa: exactly.t the same time, where are all of the company's going to try to login -- where are all the comedies that are going to try to bring in debt? you have to wonder whether they see something down the line, how much people are willing to pay, whether it is the price increases they are passing along , that they are saying this is the time. tom: i'm looking at a present piece out nine years, and the price was $105, and this 20 year joining it at $89. as john templeton would say, bonds are on sale. lisa: well, bonds are on sale, but not in the right direction if you are the issuer. we will see. this is bloomberg. ♪ tom: bloomberg surveillance. good morning to you. futures -36. dow futures -152. vix over 23. nasdaq down as well. oil with a 4% move down. difficult covid news in china. lisa: it is this knee-jerk reaction on news. there are huge moves. ellen wald talking about the financial is asian of oil markets -- the financialization of oil markets. tom: our job on radio and tv is to give you t

that is the story, lisa. lisa: on one side of the market, to use your words, you have people who are saying the fed is not being aggressive a love -- enough. and then others are saying it will get above 2%, and terms of the fed funds rates. jonathan: that's what makes this job interesting sometimes, right? lisa: every day. jonathan: down to 2.86 86. in the equity market we are down .1%. and netflix is getting hammered. it is down hard in the premarket. we are lower by about 25, 20 six, and 27%. this is bloomberg. >> keeping you up-to-date with news around the world with first word. we have learned about eight small but growing number of insiders who are quietly questioning vladimir putin's decision to go to war. they believe it was a catastrophic mistake that will leave the country setback for years. there is no chance the russian president will change course, and no prospect for any chance for him at home. in shanghai, businesses from carmakers to supermarkets are quietly resuming operations in the midst of

lisa: this really raises issues. fordham is right and we are rethinking our issue of security, what does it mean for china? that is why it is so important that pelosi is thinking of going to taiwan? what does that mean on the stance from the west? they are talking about potential sanctions and all sorts of things. it is notable they are still talking about it. jonathan: from new york city this morning, good morning. this is bloomberg. ♪ >> a lot of what the fed has to do initially is just catch up. >> pricing hikes it is clear that is the direction of travel. >> the fed is almost price to perfection. >> if the fed overreacts they might be in a tougher spot in the fall. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: live from europe city, good morning, good morning. this is bloomberg surveillance. futures just about positive on the s&p, setting you up going into the weekend, with cpi and earnings in america. tom: it will be interesting to see earnings. ecb just as im

lisa: that's bad. dorothy cote and lisa abramowicz.k of america positive by a little more than 1% in the premarket. this is bloomberg. ♪ >> keeping up-to-date with news from around the world. billionaire roman abramovich has met with ukrainian negotiators. he has longtime ties to vladimir putin. talks stalled after evidence emerged of russian atrocities against civilians. jerome powell may reinforce bets that the fed will raise rates. the fred's premeeting quiet period starts midnight on friday. china's quarterly production of semiconductors trunk for the first time since early 2019. covid lockdowns in shanghai and other regions disrupted manufacturing. there's also been a drop in demand for consumer electronics. companies owned by far right radio host alex jones filed for bankruptcy after being hit by a flurry of lawsuits. one of them is his website info wars. jones called the sandy hook shooting a hoax. several attempts to free the ship using tugboats failed. global news 24 hours a day on air and on bloomberg quicktake powered by mor

lisa: this is the issue. we will get the democrats in this subcommittee hearing we are expecting to start around 10:30 a.m.. jon ferro will be watching it with popcorn as you get these oil executives coming in front of congress to get rick to -- to get raked over the coals. tom: our prices are getting somewhat like prices in england. would you have oil executives in london go before the house of commons about couching? -- about gouging? jonathan: to go over that title at the subcommittee hearing today, they call it america's pain at the pump. if you wanted something productive out of this morning, based on the title of this hearing, it is unlikely we will get anything productive. tom: we will have a lot of good coverage with annmarie hordern. we have to do the data. i'm going right to the fix, over two big figures of damage. 23.34 on the fix -- the vix. jonathan: closer to 255. this morning, moving up another nine basis points. up nine to 264. a monster move on the treasury yield through the curve over the la

lisa: this stuck out. "the wall street journal" put out a report saying the amount the fed would like to reduce inflation over the next two years has never been done before in the past 80 years without causing a hard landing. tom: jon, the hard landing is the bramo gloom. i get that. jonathan: dudley is in the club, isn't he? tom: but can we stop and state it is essentially a fully employed america? jonathan: in some measures, yes. some people would push back. but it looks like a very tight labor market. what you are picking up on i think is really important. there's a difference between a mechanical peak in year-over-year inflation because the base effects start to kick in one way or the other, a difference between that and the cumulative damage of persistently high inflation through the rest of this year, which is what host economists still forecast. so you can come down from 8%, 7%, 5%, but if we are looking at 4% through next year as well, we've got a problem. tom: what does blanchflower know? he is st

the world, i'm lisa mateo.'s get to first word news. president biden has broad support from congress for a massive $33 billion ukraine aid package. lawmakers could finish work by may 9, but if democrats assist on attaching funding for coronavirus vaccinations and treatments to the package, action could be delayed indefinitely. officials in china are defending the covid zero strategy as the best way to fight the pandemic. they say the outbreak is coming under control with cases in shanghai showing signs of turning around. the lockdowns have been criticized for existing -- exacting heavy social costs. potential money laundering case at deutsche bank. the prosecutor's office says it relates to trades made by the bank. cathie wood's ark innovation fund is heading for its worst month. the etf is down 26%. the fund has declined almost 70% from its all-time high last year. key holdings like zoom and teladoc tumbled from there pandemic records. the fracking boom is turning texas into the earthquake capital of the u.s.

lisa: the u.s.particular, secretary janet yellen participating in imf world bank meetings, even though russia is included despite some of her warnings before the events. how controversial is that in washington, d.c.? joe: it is a great question, how many meetings might she skip? there will be some, particularly one on economic architecture where apparently a russian representative will be in the room. this is not exactly janet yellen forte, going head-to-head with representatives from other nations in a public forum, but that is being suggested i sound, that it may be more meaningful for her to not only get is done with ukraine in spite of russia's attendance but maybe go head-to-head, call them out, show up at a meeting in person and call out russia for what it is doing in ukraine. that would make major headlines across the world. lisa: meanwhile, we are hearing the incursion into the donbass region has begun. do we have any sense of what the ultimatum will be, what new goals are, what the yardstic

jonathan ferro, lisa abramowicz

lisa has no thoughts on this.ublicly available thoughts anyway. ♪ ♪ jonathan: live from new york city this morning, good morning. we are slightly negative on the s&p, down two points to -0.04% -- down two points, -0.04%. after the close we will be talking about netflix. that has had a dreadful year. i want to talk about two things. and the bond market, i want to talk about the treasury market and the 10 year, and this breakout we have seen through the month of april so far. a 50 basis point move. lisa has picked up on a story that i think is really important. maybe some doubts that this federal reserve is going to step up and do what is needed to cap inflation, and that is starting to reinvigorate the selloff in the backend of the yield curve. that's one view from barclays and another view you have been building on as well. lisa: this is been a huge shift. even though people were expecting that later in the year people would be worried about a growth slowed down and go into longer-term treasuries, that is not happ

tom: lisa, weigh in here. actually, when i worked at fargo, one of my colleagues got the sheep journal every week. frankly, you have not been able to see some of the planting globally. when will we see the trade-off between feeding hogs corn and pe ople corn. i can tell you are really interested. jonathan: i will just say thank you to emily. hoping we do not come back or that extra question. [laughter] tom: it is a 19 degree low in fargo this morning. jonathan: let me ask you this -- wall street is obsessed with this mechanical peak in year-over-year inflation that could be kicking in around about now. you think mainstreet feels at the same way? tom: no, totally different. i think it is completely different. i get the year-over-year, and we will do a valley there with michelle meyer and the rest of it. the public is flat on its back. what is important here is the deciles of the public are flat on their back over the inflation. if you do a core analysis with a beverage of your choice now, you get slapped in the

i'm lisa mateo. this is bloomberg. >> the boj may be rolling the dice with the universe, but what they may be hoping is that they can get the yen weak quick enough, and release the constraints they have so that they can finally tame domestic core inflation in line with their inflation objectives. jonathan: that hope may well not materialized. dollar-yen, 130 point 86. elsewhere, yields higher by a couple of basis points. collet three on the 10 year. on the nasdaq, up by 1.38%. a little later we will get numbers from apple and amazon. when you look at the automakers, ford numbers decent as well. tom: we continue that conversation on detroit autos with john lawler, cfo of ford motor, who has tattooed on his brain that you need to be in a ford f1 50 pickup truck to go down to des moines, iowa. can you sell a new $90,000 fully loaded electric pickup truck on the east and west coasts of this nation? john: absolutely. in fact, our early reservations of orders are highly skewed towards california and the ea

lisa: there isn't a lot of history here.n fed officials have said we do not understand the reaction function as well is unwinding the balance sheet. we will read about what the details are perhaps in the minutes. jonathan: looking forward to that. are you? tom: i've got the alarm set. vet bill and i will look into that. i think i will have to have an early beverage of my choice. i may have some beverages or several beverages. usually i have a few. jonathan: we know that, tom. just getting a headline from valdis dombrovskis out of europe. they will continue to ramp up sanctions on russia. we just got to that point now, i think a lot of people have come on gas come on crude. tom: maria tadeo just putting out an internal note on the importance of the austrian leadership going to kyiv. this is hugely fluid, and let's be clear here, it is just about atrocity, or as putin would say, alleged atrocity. the alleged must is -- the allegedness is perhaps drifting away. jonathan: we've got the austrian delegation going. we got the europ

lisa: i can't save you because at 7:30 a.m. i would have -- we would have gotten what i called the minutes. coming into this i was told i cannot call them that, it is the account because jon said we cannot call the meeting minutes. jonathan: you can call them what you want. tom has got -- tom and i has gotten into trouble. lisa: we saw brief positive territory and now down .25%. how much you get a sense of going forward, the ecb ready to move to support the euro and i talk about that with the euro nearest the lowest levels back in 2020. is this a concerning point or is this a good thing potentially increasing exports and economic activity? today we get a slew of fed speak because it is another day in the week that includes the fed president at 9:00 a.m., the chicago fed president, and how much do they support the ceiling if they will reduce the balance sheet to this year. it seems like a lot. i don't know if we can accurately price this because no one knows what the ramifications will be. today we see the yuan general's meeting

lisa: shareholders have to sign off on this. you on musk will have the equity position but will he share it? he wants external investors, will he get them and how does he finance this? jonathan: cost of the debt as well. a lot of people have said moral crusade may be moving company away from for-profit to something else. i'm wondering whether he can do that. lisa: when you have a leveraged buyout, you have real investors, people who want to see the money. any deliver at a time when he needs to do this in real terms? jonathan: we have earnings from alphabet and those names are 17% of the nasdaq 100. we are down two/10 of 1%. we have got to talk about this one reflate, a 106 angle on euro-dollar, that's a big one. tom: this is the true back story this morning step we will have a brilliant call on dollar euro. when you talk to the adults of global wall street, this is what they are focused on. they are focused on a weaker yen. would you say 105 is the emotional point for the euro? jonathan: this seems to be the objective. lisa: it'

i am lisa matteo. this is bloomberg. ♪ >> u.s.lds pushed higher in the dollar-yen could push higher , but if we move into the end of the year, people begin to think the u.s. economy can slow as yields are lower. in a way, that could take the bank of japan off of the hook if you like. jon: jane fully, the head of fx strategy, what a move in the japanese currency. good morning. equity futures up 1.4% on the s&p 500. on the nasdaq, the story of facebook sending the nasdaq 100 higher, much higher, by almost two percentage points. here are the moves in the fx market, euro-dollar 1.05. 1.04 earlier. dollar yen through 130 in the first time. tom: huge deal. we will focus on japanese yen and the affects globally but so many other stories out there. apple and amazon later today. right now on the war, jack fitzpatrick is in washington and maria tadeo in brussels. this is with great respect to all of those at risk, who is winning this war right now? >> that's a difficult question to answer. the russians say we will win the war and this is no

lisa: do you think fed policy is on autopilot? gregory: the short end has little bit of flexibility. if you see a couple of quarters of lower psi receive the jobless claims numbers soft and a little bit. i think they have the flexibility to go on to pause, maybe 25 basis points or even take a quarter off. in terms of quantitative tightening, i think they pre-much on autopilot. the only thing they have to do now is the $35 billion in mortgages and $60 billion in treasury runoffs, some of the month they do not have that much and they might look to the mortgage market to sell more to get that target. lisa: you said markets have to catch up. where needs to be catching up the quickest? gregory: i think on the long end. i think the short end has done as much work as it can. if we truly get to 3% by the middle of 2023, i think the economy feels that. we have the impact on the housing market, on capital expenditures. that is the area you need to get the 3%. with all due respect to mr. doubly, i agree with him, i am not sure i agree with t

lisa: there, there now. jonathon: just with politicians, i just wish they can have a productive conversation asked some questions and have a back-and-forth. yields are higher but five basis points. 2.6 275. from new york this is bloomberg. ♪ >> keeping you up-to-date with news from around the world. russia's finance minister says that foreign pranks -- banks refuse to process its eurobond so the payments have been made in rubles. the ministry says that it considers its obligations to be fulfilled. the u.s., e.u. and others are preparing to impose more sanctions after alleged atrocities in a ukrainian town abandoned by retreating russian forces. penalties will be increased on state owned enterprises. morning market traders are betting that the fed will raise interest rates by 2.25 basis points, most in almost three decades. we will get more of a sense of their thinking today with the minutes from the last policymakers meetings are released. china reported 20,000 new cases of coronavirus. it was driven by surg

lisa: right.to people in the bond world and the credit space, they are going to say that is all rates. that is alteration. that is not the credit bet. tom: but amanda lyman can say that at goldman sachs. our viewers and listeners are getting hammered. lisa: given that, what kind of outflows will follow on? amanda: your point is well taken, tom. ig total returns are off to their worst start on record by far. so completely off the charts. i think the one key difference in the ig market relative to the high-yield market, for example, is that the ig market does have a large contingent of spread based buyers. institutional spread based buyers, but nonetheless, a big part of that market is tracking the index, unlike the high-yield market. to your point on fund flows, our work has actually shown that in various bear market rate regimes , ig fund flows actually do not chase rates. again, indicative of that spread based buyer cohort. what we have seen is if you look at ig fund flows as a percentage of tota

lisa: we have seen that so far. are we pricing in a recession in europe and not a recession in the u.s.? is that with the euro is telling you? is this a more nuanced story? >> most forecast are suggesting we also have growth in the u.k. and the rest of europe. the higher price of gas and oil is affecting the so this is quite new. we had the headline from the bundesbank saying if there was an oil embargo from europe on russia, we would see germany in recession this year and that is a significant risk and that is obviously something that will affect the u.s.. the story of slowdowns is because of the hiking of interest rates we will be seeing this year. jonathan: fantastic to catch up with you. every time i heard an ecb policy maker cut rate hikes, i thought of china. we are starting to see something we did not see lester which is weakness in the chinese currency. tom: not only that but this goes back to the beginning of 2021. it's a four standard deviation move but for a strong trend. over the weekend, we need to rest

i am lisa matteo. bloomberg. ♪ >> i worry the fed has to choose between one of two mistakes. i worry it will take us into recession. that they are late. they are mischaracterizing for too long. they did not do enough and now to regain credibility they have to hike twice by 50 basis points. jonathan: fantastic to hear from mohammed this morning. futures positive .5% on the s&p. nasdaq also. that is the view right now. 50 basis point move at the next meeting and another after that. tom: i have never seen the hudson river look that beautiful. for those of you on radio, it has never looked that good. jonathan: i've never seen the river with riverboats. tom: he is anchor for the network. it is quite cold. on this spectacular success and good news of people like barela just andrew pekosz, he joins us from johns hopkins. we've had many difficult conversations and we do this now within america with under a seven day moving average. that is a triumph of science. why can't they do that in china? >> it's a very d

lisa, let's talk about this warm up we are about to have. lisa: the coolest day of the week. temperatures are going up as soon as tomorrow. this is what you would expect to see in april, a cold front to the north of us. clouds moving into the north bay, but that will clear. we have fog in pacifica. 51 in oakland. 24 hour tempat change, five to 12rees win thebay. 's by noon time. breezy all around the bay. low 70's inland. still,0's at the coa developing, sacramento police are offering a $1000 reward for information leading to the suspects in a mass shooting. kumasi: six were killed and 12 were injured outside of a bar downtown. we spoke to one of the mothers of one of the victims. >> this morning, police searching for the shooters that killed six people and wounded 12 blocks from california state capitol. >> we need another 5, 10 officers. >> gunshots rang out after a large fight in front of a row of nightclubs. a 29-year-old and her son, a father of two young daughters, two of the people that lost their lives. >> he was full of life, happy-go-lucky. always there to help some

lisa, did you tell me that? lisa: i did not.k you need to get oil higher in terms of all of the road trips. i've got to say, it is a fascinating moment given what we are seeing in the oil market, given the whipsaw action in how much the peripheral story of china is coming very much to the forefront has such a huge impact on oil prices. tom: we got people down at $80 a barrel, but i would suggest a consensus opinion are people really thinking about this, like javier blas, at $120 which i have not mentally framed. lisa: amrita sen pointed out that the lack of liquidity, the fact that people are not able to maybe post margin in the same ways because of the increased marginal requirements post-lme, is fascinating to me and how that could shift in a couple of months. tom: can i show you some organic revenue breakout? wendy nicholson is a jewel. she is at citigroup and owns the high ground on packaged goods. pepsi, the makeup of their organic revenue growth, price 10%, unit volume only 3%. i would not have guessed that. lisa: we are s

i'm lisa matteo.dent biden has broad support in congress for a $33 billion ukraine aid package. lawmakers could finish work on the measure by may 9, but if democrats insist on attaching coronavirus treatment and vaccine action, it could be delayed. officials in china are defending the zero covid strategy. they say the outbreaks are coming under control with cases in shanghai showing signs of turning around. law enforcement authorities are searching deutsche bank frankfurt headquarters and -- in a potential money laundering case. deutsche bank is said to be cooperating. elon musk sold about $4 billion of tesla stock after clinching the deal to buy twitter let.'s analysts and investors suspected that he may need to sell some of the stock to sell -- he mentions job cuts and ways to boost cash flow. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm lisa matteo. this is bloomberg. >> we said that in this year,

i am lisa matteo.his is bloomberg. ♪ >> the geopolitical situation, the energy situation is very severe. i think we are insulated. what i think about the global situation coupled with the federal reserve potentially hiking rapidly, maybe one in four in the next 18 months, it is significant. jonathan: the city global chief economist on the outlook. good morning. .4% on the s&p and nasdaq 100 up .5%. payrolls is one hour and 20 minutes away. the estimate is 490,000. in the ukraine were continues and talks continue. tom: it's a busy jobs day. there is percolating in the zeitgeist something interesting. it is unconfirmed but the financial times summarizes the unconfirmed reports of two helicopters of ukraine unconfirmed moving 50 miles north over russian territory to take out a fuel depot. we have to be careful with this because it is really stewing now without confirmation. maria tadeo and maria tadeo --emily wilkins. what is the significance of this is true of ukrainian movement and a russian territory?

lisa: let's not. tom: thank you, lisa. [laughter] lisa: i will give you an out.han: a picture of tom keene in the evening after a long meal and a lot of drinking. tom: my word. did you hear that mom let's not? it was a certain tone. [laughter] let's not. jonathan: the alpha price, $54.20. tom: let's quote the dow. jonathan: let's not. tom: let's not. [laughter] jonathan: this is bloomberg. ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. bloomberg has learned twitter is on track to reach a deal with elon musk on the $43 billion takeover offer as early as today. still the talks are set to be fluid and a deal could be delayed or fall apart. twitter had previously considered supporting that attempt. u.s. secretary of state antony blinken and defense secretary lloyd austin met with ukraine's president volodymyr zelenskyy in kyiv sunday night, the highest level visit since russia invaded. the u.s. promised ukraine more military aid and said they cannot attempt a repeat of the war. in france, voters have given emman

lisa: banks may lose half of their capital. also, interesting that vladimir putin saying there is no alternative for russian gas in europe right now. how much will they leverage that when that is really financing some of their war effort? tom: i said to the imf director, strategy, do we know what the russian reserves are? i got the boilerplate answer. let's ask again, do we know what the russian reserves are? lisa: right now we are looking at a lot of turmoil internationally which is being reflected by the banks as they report earnings, ease and as some of them report better than expected numbers. you are seeing a bit of a deterioration across the board. yields are lower as you see the rate hikes around the world, bigger than expected. the ecb coming up with a more dovish statement. 2.65 on the 10 year. crude coming up a little bit, 102.93. it's important to look at bank earnings as a reflection of the economy as well as what may happen in financial markets. tom: the image is the international bank, citigroup, and that is chang