tom: someone named lisa abramowitz put this out on twitter, the 10 year real yield is important. 's a lesser negative yield than the last 24 hours. lisa: why isn't zero? if 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 no

. >>>> this is bloomberg surveillance with tom kean, jonathan farrell and lisa abramowitz. jonathan:jonathan: from new york city for our audience worldwide, good morning, this is bloomberg surveillance. futures are up 1/10 of 1% in europe and in -- in the markets and in europe it's not business as usual step tom: all of us are appalled by the news flow in the first bombings in odessa in the western black sea, a key emotional city. what an original, difficult weekend. tom: jonathan: deeply upsetting images. how do the europeans respond this week? tom: they will do other things and i think we will talk about sanctions. let me talk about what jimmy diamond said step what do you do about net gas and the utility bills? jonathan: energy issues and the outlook for growth and that's the problem for the french and italians and germans. for the last 15 years, is coming back to haunt them in a massive way. tom: jamie diamond says we need a marshall plan for the european union and their energy security. the headlines this morning on the use of coal in europe. jonathan: that single name

. >>>> this is bloomberg surveillance with tom kean, jonathan farrell and lisa abramowitz.nathan: from new york city for our audience worldwide, good morning, this is bloomberg surveillance. futures are up 1/10 of 1% in europe and in -- in the markets and in europe it's not business as usual step tom: all of us are appalled by the news flow

. >> this is bloomberg surveillance with tom kean, jonathan darrow and lisa abramowitz. jonathan: from new york city for our audience worldwide, good morning, this is bloomberg surveillance live on tv and radio. futures are negative 2/10 of 1%. the pressure is piling up on the europeans. tom: the grim headlines are something. danny blanche flowers is the ecb will not raise rates. dovetail that with the big tech move in america where big tech growth is moving. perhaps they won't raise rates as much. it's this true grimness in europe. jonathan: because growth is decelerating. the energy crisis threatens growth. the question i have, the proposal this morning is on banning coal imports. is there a redline for the europe sheehan that the russians could cross when buying russian gas and russian oil becomes too much? tom: the papers are doing the best they can to pretend it's 1950 and we don't show people these power fig images. the twitter feed is the modern newspaper. those images are appalling whether they are alleged or not. they are being overcome by events. jonathan: deep

lisa abramowicz. tom: good morning everyone. kailey leinz information abramowitz -- kailey leinz in for miss abramowitz. do we have the courage this morning to look at the images on the cover of the newspaper? jonathan: haunting was the word used by the european council president. deeply concerning, distressing. how does europe respond to it? will they fall short? most people conclude they will. tom: this is not a war from other centuries or even world war ii or vietnam. there is an immediacy here that not only affects the war outcome but affects the policy around it. jonathan: a moral question has dominant of the conversation for weeks. how do they back away from energy? they can talk about reducing dependency this has become much more urgent. this electorate wants to see them do something immediately and you can see the pressure building right now. if they do that, you know what the price will be, almost a guaranteed recession. tom: i want to get to kaylee and the washington response let's go to that one headline. mr. demott -- mr. dimon demands a marshall plan

[laughter] abramowitz is up to speed on this because i was on twitter tweeting elon. what is mr. must doing? lisa filed an amendment where basically he was coming out and saying he wants to buy twitter in all cash for -- cash which represent a 50% premium over where twitter traded in january and he talked about how he can unlock the potential of twitter. tom: folks, this has been in the bloomberg museum. would you suggest he is doing this in a proper manner where it is not like devious on twitter or anything like that? lisa: this looks formal. devious 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