joining me now to talk about this week's flurry of activity and how to invest, liz ann sonders joining the conversation. you have been focused on fundamentals. not all this noise in terms ofism pacing investors. how do you see markets right now? liz ann sonders: what has been missed in the short-term stuff, in particular, the political uncertainty and trump and comey. the entire bull market has been driven by liquidity. not just what was provided by: the feds. but global central bank liquidity. money supply is close to the same size as u.s. economic growth. and it's growing faster. so when you have excess liquidity, it needs to find a place to go, and it found a place in equities. then you had the turn in earnings which has been the underpinning of the most recent move in the market. i think this obsession over things like trump and the short-term of news, i think it's noise more than anything else. maria: you look at the overall earnings picture. earnings were up 15% in the first quarter, and the second square we are seeing earnings up 6% in terms of expectations. so a good backdrop f

liz ann sonders and gina martin adams.ity strategy coverage, on the xbox go. -- on b.i. stocks go. i dropped the mike. jonathan: i wasn't even trying to argue with you, not once. thursday on the ecb, full coverage right here. something that has not changed in this market, 10 minutes into the session, apple is debate outperform on the s&p 500. as of about one half of 1%. it is the big performer relative to what is happening elsewhere. in global equities, we are up one quarter of 1% on the s&p 500, a softer tone across the mc market in europe as well. treasury yields down for basis points. in point 14 is below earlier the session. a remarkable calm with an election on thursday. the u.k. cable goes nowhere at 1.29 flat. euro-dollar, 1.1274 ahead of that ecb decision. it is super thursday coming up. we are counting you down on bloomberg tv. good afternoon from london, good morning to new york. you are watching bloomberg tv. ♪ >> this is bloomberg daybreak. i am emma chandra in the hewlett-packard enterprise greenroom. coming u