we can thank mario draghi for that. suffice it to say that both euro and british pound are much ofer, the two big components the dollar index. kroger is down, the biggest dragger on the s&p 500. margins a little but of an issue there for kroger. estee lauder is bucking the 1.1%,for retailers, up getting a great outlook for china. jp morgan is upgrading estee lauder today. tell us more about the ecb and mario draghi. guy: mario was much more dovish than the market anticipated. we also got a deferment of the raising of rates from the ecb. we are not going to get a rate rise in 2019. downgradednificantly their economic forecast, particularly for 2019, which is a really big deal. the fact they didn't significantly change for 2021 implies a certain degree of panic at the ecb. the market has reacted reasonably strongly to this. here is the session chart of euro-dollar. of 1% move on the euro. let me show you some other assets as well. we are getting some rotation out of cyclicals and defensive stocks in europe. banks initiall

the other end of mario the village of. this is where the dock workers are and romani live since their working hours have been cut they have been focusing more on their wine business. that. is in your water the real work starts in a month's time. that's when the buying the grapes just like at the moment the grapes are resting it's like they're hibernating. some of the grapes are sold to bolster the household finances the twins also grow their own vegetables. and what our wages are just enough to pay for the electricity water and gas the price of gas alone has gone up twelve times more than it was five years ago. the increase in gas prices is a direct result of the conflict with russia things were different five years ago as the grenades were flying sunday asked his father to build a bunker. sure enough they walk might it. you were the first to light the candle back then to. sure novolog. misses a bit even as my wife was five months pregnant back then and my son was six when he came to us with this idea and said don't be afr

on the outskirts of mario this is the home of shipyard workers so again. the front line of the separatist area is not far away in twenty fourteen the war reached these residential blocks. marsh all of a sudden there were explosions and i took my wife and daughter into the corridor and covered them up on the ground as the explosions were going off the window pane shattered and black smoke filled the apartment we couldn't see anything when it stank. after things had calmed down we looked outside and everything was in flames are starting it's going to i mean we were there so people were screaming and they were dead and injured people lying on the street. no harm no to the critters all of a novel that i knew in the. the family is trying to lead a normal life. so gaye's wife reno works for the city's tax authorities his daughter victoria is studying law in odessa and is currently home for the holidays . i think i'll probably stay in her death yes i think that's what i want to do with her which. she only wants to return when there is peace if this doesn't happen

also on the show mario draghi is set to leave the top job of the european central bank in october but who's going to be the next chief guardian of the euro. also way to use unemployment in greece to lead the record highs the greek railway operator decides to do something about it with a little bit of help from germany welcome to the business i'm down to office the e.u. wants a joint approach in combating risks to their five g. networks especially risks that could come from chinese tech suppliers like weiwei but instead of banning weiwei which washington would like to see the e.u. is hoping that cooperation within the bloc could offer better protection competition to run europe superfast five g. networks is fierce when it comes to deciding who can be trusted with the vast amount of information that will pass through them the european commission thinks there's safety in numbers is recommending the nation share data on five g. cyber security risks with one another we have to protect everybody's privacy we have to protect our business secrets we have to protect. all our life we will be co

mario draghi's press conference on deck.ms is has the fed might not have to tighten as much as they thought, while larry fink sees a goldilocks moment. kroger disappoints. margins fall as the company tries its turnaround plan. david: welcome to "bloomberg daybreak." we've already had some real news this morning. they will have new long-term loans and they their guidance. -- extended out there guidance. guidance.d out their alix: where is my market reaction? euro-dollar was dropping like a stone. here we are just down .2%. i wonder what that's telling us. is this a sign of protracted slowdown? bazooka, what is it aimed at the right target? in monetary policies ability to policyound -- monetary 's ability to turn around. saw what'sst happening with euro-dollar, lower, but really contained despite the dovish rhetoric. you are seeing buying across all bonds. yields here down one basis point. germany, yields only down two basis points. crude participating in its own risk on rally. minutes, we will hear from mario draghi. that's f

the ecb especially mario draghi, they have sofr a legacy of being rather on the dovish side, but given the economic deceleration of the recent months, they have upheld their stance, quite surprisingly, stubbornly almost, to kind of give a story to the exit scenario. if mario draghi today will acknowledge that the economy is heading south more than he had expected warranting perhaps some further easing, that could actually be a very dovish surprise for some of the markets, so this meeting could actually really be a market moving meeting today at the ecb. as we all know, press conference starts at 2:30 cet back to you with that. >> anetta, thank you so much for setting the scene for us we'll be back out to you later on with more also, make sure you join willem and i for a special decision time program for now i want totake you to the european equity markets. we had a look at bond markets just a moment ago. right now as you can see beside me the stock 600 is currently trading down about 29 basis points, and investors seem to be in risk-off mode this morning. we are seeing preference for t

mario draghi delivered more than expected. expected,und not saying rates could stay on hold through the end of the year. by givingrdeliver less ammunition if things get worse? be thei think that will case. markets were expecting some easing, but not that soon. the ecb concern on slowing growth. i do not think that is a good sign. nejra: do you think these outlooks for growth and inflation could get worse? bloomberg put out a story since the decision yesterday saying some officials doubt the 2019 outlook. henrietta: what we saw yesterday is an ecb that was trying to be proactive. that is following in the footsteps of what the fed has done, and easing in china. they are looking to give the economy a boost. membersat you have some of the governing council more concerned about growth? i think the market was surprised how much was delivered yesterday, and that is why we got the reactions we did in the rates market and the softness on equity side. nejra: and the euro plunged to a 20 month low. well below the 200 day moving average.

some people are speculating on more drastic moves mario draghi could make. in the u.s., no one is expecting the fed to raise rates anytime soon. not in the first half. maybe the dovish pivot could be the reason markets are rallying. >> the problem is we have already seen a lot of that. we expect from the ecb some type tltro announcement, but not details. we do not know if it will be a small message. it is more likely you seen as a result of the downgrade a reasonably dovish message continuation from the last meeting, may be more dovish. the problem is the market is already there. the question is how much can the ecb move market expectations? the same is true for the fed. that is the disconnect we are facing right now. you have the losses for q4, but if you look at fed rate had expectations, the next 12 months, there is no hike price. for the next 24, there is no cutprice. you see the inconsistency. if there is a cut in the next few years, one has to have the expectation growth justifies that. why is the s&p rallying so strongly? this disconnect is there and

if mario -- is mario draghi paralyzed by the fact that he is done soon? is this the reason why the ecb is behind the fed? the fed seems more dynamic. jay powell seems more reactive to what is going on in the u.s. economy and the global economy. mario draghi is nearly done and i wonder who is going to replace him. i wonder if we need to get that point soonish? helping thats not mario draghi is approaching the end of his tenure. right now the ecb may need to think both aggressively and also strategically about issues like what is the right threshold for resuming asset purchases if not government bonds, maybe private assets. alternatively, what do they need to do if they are not going back to asset purchases, what do they need to do to provide a more powerful form of easing in rate space that can be sustained by the banking system? that could involve coupling more aggressive forward guidance with very much more generous tltro bank funding and tearing to reduce the cost of the negative rate cost to the banks. two would be if they were to introduce an economic

late today the city announced a settlement with mario woods' mother. san francisco will pay an undisclosed amount of money. the san francisco city attorney's office says, "this settlement allows us to reach a resolution without the need for a trial. hopefully it will help bring closure for all involved." in 2015 the death of mario woods touched off protests across the city. it has had a lasting impact on the police department. the shooting led to the resignation of police chief greg suhr and it was one of the cases that brought about new policies including police body cameras and deescalation tactics when confronting suspects. prosecutors cleared the five officers involved in the shooting. the attorney for mario woods' mother says she is happy with the settlement and happy to put it behind her. >>> new at 6:00 people in the north bay still cleaning up from the recent flooding. they say they are getting dumped on literally. neighbors along the russian river are in clean-up mode, but kpix5's wilson walker tells us outsiders are making the problems even w

focus shifting to mario draghi.s is "bloomberg real yield." ♪ jonathan: this is "bloomberg real yield." we will hear from mario draghi. the u.s. jobs report is the main event. still with me are mary bowers, greg peters, and jub hurner. let's begin with the ecb. what do you expect? jub: the key thing for us to toch will be any revisions the projections on growth and inflation. they look high in terms of expectations for 2019, given the recent growth weakness we have seen. they have projections of one point 7% for 2019 versus a consensus of roughly 1.3%. thatarket will we watching to see how the ecb is thinking. there is expectation about an announcement or further news on the banking sector. it is a big meeting. ecb are unlikely to maintain a more dovish bias. european andhe mystic economy, is -- and domestic economy is we some strength at almost precrisis loads. that largely points back to china. the ecb will have to make and extends to which they think are longer-lasting. jonathan: it has been going on for a while.

as mario draghi offers more stimulus. numbers out of china, and exports are seen falling after january's surprise gain. shery: breaking news on the bloomberg. we have now the final sentencing for president trump's former campaign chairman at her come up -- campaign manager, paul manafort. the judge has sentenced him for three years, 11 months, for bank and tax fraud. defrauding banks that clinton money. he has been charged for eight felonies that could amount to as much as 24 years in prison. the judge has now rejected termal counsel mueller's as unwarranted. the judge now thinking that the 19 to 24 year term is unwarranted. the judge has sentenced him to three years, 11 months for bank and tax fraud. that would be cheating the u.s. out of more than $6 million in taxes and defrauding banks that clinton money. paul manafort was cooperating with the special counsel's mueller's team. we had her the prosecution. heard theot -- prosecution. they were not liking that he lied during the debriefing. rejecting the endorsement of a

. >> the other is this man here, mario draghi delivering a dreadful assessment of the eurozone economy. decembered with the 2018 macroeconomic projections, the outlook for real gdp growth has been revised down substantially. in 2019. it is likely in 2020. >> what was interesting about a subsequent price action, i was trying to figure out to what degree that was about policies that had been announced and to what degree that was about the market. the policies will not work area which one was it? >> a bit of both, the market has been expecting in the next couple of months, they have been expecting that they would push out forward guidance. the market was expecting a little bit, the timing was unusual. the market was not prepared for that but i think when you look at the growth forecast, everything that mario draghi was saying, the eurozone is weakening, it does not have the growth that you have seen especially in the cycle that you saw in the u.s. so the market is not pricing in anything anytime soon. the market found it more dovish than accepted -- expected. it happen because there have

jonathan: mario draghi delivered a dreadful assessment of the u.s. economy. >> compared with the december, 2018, you will see some projections and the outlook for real gdp growth has been revised down substantially in 2019 as likely in 2020. jonathan: what was interesting, about the rollover, i was trying to figure out to what degree that was about the policies announced and what degree that was about the market. which one was it? marilyn: potentially a bit of both. the market had been expecting the additional yields and that they would push out the forward guidance. i think the market was expecting a little bit and the timing was unusual. the market was not prepared for that. when you look at the growth forecast and everything that mario draghi was saying, the euro zone is weakening and does not have the growth, especially at this stage in the cycle. i think the market is not popping in anything anytime soon. i think the market was more dovish than they expected. jonathan: i just spoke with forecasters about how to do this without there being a mass

we do hear from mario draghi in a little bit.ahead and head over to frankfurt and listen in on that. say how much i appreciate the interaction with all of it. and with some of you even personal. more

jonathan: you think mario draghi's decision is going to sit and wait? point is that there is some positive external optionality they can hope for. hope is not a strategy, as you know. aroundo think it is all revising the forecast lower to give them more room elsewhere to do more policy. jonathan: jub, on the policy option they do have, the bank funding tool, to the optics of too?helped us market, do they help europe? jub: it would if it wasn't for the fact that there is optimism baked into some further news. to greg's point, i agree, i think the upside for europe extends from china. if we look back to 2017, at that point, the eurozone was growing at 2.5% gdp. that was helped by the at fort -- export sector as china was inflating. then we had deleveraging from china suffering. you need to look east for outside eurozone growth going forward. the ecb will be patient in terms of exercising policy tools until they get more clarity. jonathan: let's get to the final round. the rapidfire around. we start with europe. quick answers if you can two quick questions

mario vallejo tienen reporte.ingo muchas de las zonas del paÍs cumplen cuatro dÍas sin fluido elÉctrico. esta madre caminando llegÓ a la morgue el cadÁver de su hija que con 19 aÑos sÓlo pesaba 10 kg. en varios lugares han estallado protestas masivas y hay quienestemen una explosiÓn social en medio de la desesperaciÓn. antonio ledezma desde nueva york asegurÓ que el paÍs no puede resistir mÁs y pidiÓ una intervenciÓn humanitaria. antonio ledezma: tiene que ceder, al principio de intervenciÓn humanitaria para resguardar a millones de personas. beatriz: y la presencia de un tÚnel de 1 m de profundidad en nogales mÉxico. personal de obras pÚblicas acudieron a la garita luego que se reportaron un hundimiento en el pavimento y a partir del aÑo 2021 los ciudadanos de estados unidos que deseen visitar paÍses de europa necesitarÁ documento especial. >> los estadounidenses siempre han presumido de tener uno de los pasaportes mÁs poderosos del mundo atenciÓn, ahora tendrÁ que restar 26 paÍses este privilegio, porque la comu

para que nos diga quÉ fue lo que lo puso a prueba, mario quien te puso a prueba con quÉ te pusieron muy bien que tenÍ que llegar a tal hora y llegÓ diez minutos tarde >> ¿quÉ tal, cÓmo estÁn? >> tienen la alfombra roja listo para un estreno de pelÍculas. >> a poco me ha ido tan mal. >> me dijeron que viniera a trabajar no sabÍa quÉ esperar, pero ahÍ tengo una ropa mÁs cÓmoda >> aquÍ vas a tener que barrer hacer muchas cosas >> Ándale, ahÍ te espero >> soy como superman >> ahora el seÑor parra, ya estoy mÁs cÓmodo para trabajar, manos a la obra. >> primero por el equipo de seguridad. >> esto me dicen >> vamos a buscar la bata adentro. >> cÓmo es posible que no se cepas poner el tapa bocas. >> paciencia >> los niÑos con los los niÑos s niÑas con las niÑas no >> ponte la bata que te queda, deja tu chamarra ahÍ >> quedÓ como quedÉ todo un ingeniero de mÁquinas >> la mÁquina lapresiona, quin, va al horno, cuando llega al horno, comienza a cocerse y entra a una ventilaciÓn para el empacado >> ahora sÍ que empiece la producciÓn. ♪ lo que mÁs me gustÓ, fue el sellado de las tortillas por aÍ

nos vemos mÁs detecten cÁncer mario vargas llosa defiende a espaÑa la polÉmica sobre la colonizaciÓn dicen que el gobierno mexicano deberÍa preguntarse por quÉ hay millones de indÍgenas marginados y pobres en su paÍs. comenzamos. ♪ ♪ ♪ ♪ ♪ " Éste es un noticiero univisiÓn con jorge ramos e ilia calderÓn" jorge: donald trump acusÓ a los lÍderes de mÉxico y de centroamÉrica de no hacer nada para frenar el Éxodo de migrantes hacia estados unidos. amenazÓ una vez mÁs con cerrar la frontera sur, mientras siguen llegando miles de familias centroamericanas a estados unidos. nos informan de la denuncia de trump y las primeras reacciones. >> desde chiapas, saliÓ una nueva caravana rumbo al norte. nosotros vamos a llegar con el apoyo de todos. >> en honduras, se llama la madre de todas las caravanas con mÁs de 20,000 personas dispuestas a abandonar el paÍs. en mÉxico estÁn tomando medidas preventivas.> >> no vamos a militarizar nuestra frontera sur. tampoco vamos a seguir dando las visas humanitarias de forma masiva, tampoco. vamos a dar permisos permisos temporales de visitantes y de trabajo.

whose job would you prefer, mario draghi's or theresa may's? marilyn: draghi. henry: draghi.aghi. jonathan: have we seen a high of 10 year yield on treasuries for the year? have we seen it already? marilyn: no. henry: no. kevin: yes. jonathan: have we seen the tie tight on u.s. high-yield for the year? marilyn: no. henry: yes. kevin: no. jonathan: interesting stuff guys. it has been great to catch up with you all, marilyn watson, henry peabody, and kevin guinness. thank you very much. from new york city, that does it for us. we will see you next friday at 1:00 p.m. that will be 5:00 p.m. in london with the clock change here in the u.s.. this is bloomberg real yield. for our audience worldwide, this is bloomberg tv. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of w

hold her in his office mario is the first to mention the man we're after. ok ok you know i know you know him then. and. mario offers to put us in touch with one of his associates and the next evening we meet that associate in a hotel room where he presents us with samples. per. their radiated tortoises the second most endangered in madagascar according to international law exploiting them from the country is illegal or. steal the deal of promise is not only a steady supply but hundreds per. shipment. peter. he also says his contacts at the airport will ensure they get through security checks. are. prepared to. hear. it confirm something extort us earlier. one of our customs in all these countries or. their paid off you know. where you are. what you can go to but they're supposed to be in for. your forces or. both x. and the dealer explained the typical route for smuggling same carriers or mules checking the tortoise's in suitcases in madagascar and. from there he says the bags transit through a number of other cities by darussalam and to bar before entering

after putting marseille in front against saint—ettienne with a wonderful overhead kick, mario balotellilected his phone from a cameraman and filmed his celebrations before uploading them to social media. marseille won 2—0 — balotelli's goal is the former manchester city and liverpool striker‘s fourth in six games sincejoining from nice injanuary.

that will be at the forefront of mario draghi's concerns.telling markets we can do all sorts of things, but when it comes down to it, the reason many think they can do, play around with the forward guidance, they can keep rates negative for longer, they can do ltro, that is keeping the same level of support. there is not much more they consume. certainly that could be a problem for the ecb. that is why the ecb is starting to look elsewhere, starting to ask for support from fiscal policies to try to get some help in terms of reigniting the growth cycle in the euro zone. nejra: i know you are itching to talk about the ecb. i am, too. . our mliv question of the day focuses on the ecb. would a shift from the ecb to fresh stimulus, and i know your expectations have nuance, but will a shift from the ecb to fresh stimulus revise euro volatility? we did not see the euro move much yesterday. volatility has dropped write-down. ecb has been able to surprise markets with their -- for example, i recall when they announced the first tltro. that was a surp

we've got mario draghi talking about the ecb has made you made a mistake in terms of the structure of negative rates taking place in europe. now?ar behind is the ecb how many mistakes has the ecb made in terms of policy formulation? could this be an area where we could see some change? guest: you could. in my opinion, the real mistake is the fact that there is no fiscal, regulatory, or trade policies on the other side. there are limits to what monetary policy can do, and i think we are finding that with qe in the united states. i think you are seeing that globally. monetary policy is largely there to prevent bad outcomes, either too high inflation or deflation. economic use it to get -- it is a very blunt instrument. you can't use it to get very blunt economic goals -- very broad academic goals. the ecb is going to be in the situation indefinitely. europe is starting to look a lot more like japan. i think the ecb can help at the margin, but frankly, you are not going to get strong growth in europe without structural reforms that provide the basis for capital formation, and my opinion.

mario draghi has been in the firing line since the very first day he took the reins at the e.c.b. . he was the governor of the bank of italy and named president of the european central bank in november of twenty eleven it was the height of the european debt crisis to calm markets he made a statement that made him famous. the z b is ready to do whatever it takes to preserve the euro. the bank began lowering interest rates giving borrowers easier access to credit in march of twenty sixteen they finally hit zero never before has it been this cheap to go into debt critics accuse drug use policies of destroying savings protests like this one in april of twenty fifteen showed druggy was held personally responsible. to help deeply indebted member states like greece he began buying their sovereign bonds in an unprecedented fashion over a period of four years the e.c.b. snapped up thirty to eighty billion euros worth of them every month and that stretched the european central bank itself to its limits the big question now is what to do when the next crisis strikes druggy successor will have

. >> gracias mi vida, vamos a pasar con mario vannucci, adelante, mario. >> muchÍsimas gracias, rashela tener la oportunidad de manejar mucho dinero durante este tiempo, a partir de este momento es ascenso laboral lo que necesitas decretar, tauro esta nueva etapa de tu vida con el dinero vas a cantar muchas cosas, sobre todo felicidad, porque vas a decir que tu trabajo estuvo lleno de frutos, lleno de cosas maravillosas y tus cuentas sobre todo, te he dicho este aÑo que tienes que manejarlas con aplomo porque vas a poder hacer mÁs cosas en tu vida y vas a tener la vida mucho mÁs agradable para poder invertir, seguimos con gÉminis que tiene su momento de felicidad bastante grande, esta luna llena de hoy le baja los motores a mercurio y viene un momento de felicidad esta semana, asÍ que prepÁrate porque vas a recibir buenas noticias de dinero y sobre todo de la familia. seguimos con cÁncer, cuidado con este tiempo de enemigos, esta luna llena del dÍa de hoy trae momentos difÍciles dentro del trabajo, dentro de las cosas que van a pasar, vas a pasar, vas a ver cÓmo traiciones dentro del t

whose job would you prefer, mario draghi's or theresa may's? marilyn: draghi. henry: draghi.in: draghi. jonathan: have we seen a high of 10 year yield on treasuries for the year? have we seen it already? marilyn: no. henry: no. kevin: yes. jonathan: have we seen the tight on u.s. high-yield for the year? marilyn: no. henry: yes. kevin: no. jonathan: interesting stuff guys. it has been great to catch up with you all, marilyn watson, henry peabody, and kevin giddis. thank you very much. from new york city, that does it for us. we will see you next friday at 1:00 p.m. that will be 5:00 p.m. in london with the clock change here in the u.s. this is "bloomberg real yield." for our audience worldwide, this is bloomberg tv. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awes

he is called super mario, isn't he, mario draghi.in marvel. focusing chiefly on a woman for the first time. the question posed by the new york times is what took the studio so long. i have seen your t—shirt today, it is international women's day. it says that a mother's places in the boardroom. yes, it is interesting. interesting timing from them. for me, it feels like... a little bit too late. i mean, captain marvel, it is great to highlight women on this day, but there was a big backlash against wonder woman, the un chose her as an ambassador and they got a big backlash from their own employees for choosing her as an ambassador. i understand the movie isn't great. you havejust got another amazing woman with an amazing figure and all the rest of it. you know? what i am excited about, actually, is a movie coming out with sony later this year, a superhero called faith who is a bit more rounded and a bit more of a real woman. that is what international women's day is all about. this year's theme is about violence and better, men and wo

became spooked when they when they heard how dour the message was how somber the message was that mario draghi was giving you a negative on the economy the e.c.b. is that's the background for the surprisingly loose monetary policy i'll interpret that for the generous amount of support that it's going to be giving not only banks and not only businesses but also countries like italy because the credit you mentioned that's aimed mainly at southern european banks especially italian banks people here in frankfurt say and that's troubling signal that the e.c.b. can't get out of this crisis mode. in frankfurt thank you so much. prosecutors in the netherlands are said to be investigating dutch bank i n g after reports connecting it to a massive money laundering scheme out of russia some of europe's biggest banks have been linked to the scheme the so-called troika laundromats is alleged to have channeled to billions of euros from russia into the european banking system through a list away in lender the reports are based on the leaked documents the scheme is named after the russian bank troika di

mario draghi is going to be watched closely. popound and the dollar sterling. toht tends to move as reeard projects on that subject. sterling is down slightly against tte euro. >> it is theeend of an era for thooe who remember going to rent a video. >> i assume you a and i f fit io tttte categogory. b blockbuster store will% be in the u.s. state in oregon. the second last in western australia is closing at the end of this month. hadears ago, blockbuster 9000 shots around the world. they filed for bankruptcy protection in - [male narrator] coming up on reel south. after r local repoporters uncr decades of forced sterilization. - [begos] i thought i've never heard of this, this must be wrong. - i am a victim of the eugenics. i was sterilized at the age of 1414. - [male narrator] ] lawmakers from both s sides of the aisle join the fight for justice. - we're the ones that perpetrated this hideous crime, we ought to be the ones responsible for it. - [malale narrator] next in the state of eugenics on reel south. - [female narrator] this program is made possible by th

marios: i think there will be opportunities.entually, there will be a deal, and eventually, the hard brexit will be avoided. thet now, everything is on table, including the hard brexit. i think it is wiser to wait before you position. my view is that we are going to have a resolution. there will be a deal. written will stay close -- britain will stay close to europe and markets will react positively into that. there will be a deal dividend, but you have to be very brave to position yourself today. nejra: marios maratheftis, chief economist and founding partner at cree governance stay with -- stays with us. thank you so much. let's get the bloomberg first word news with debra mao in hong kong. india has become the latest nation to ban boeing 737 max 8 jets from its airspace. the global standoff over the airworthiness of the model has intensified as investigators try to understand why an ethiopian onlines plane crashed sunday. the european union, new zealand, and the uae join the list of territories excluding the max 8. u.s. regul

we do hear from mario draghi in a little bit. let's go ahead and head over to frankfurt and listen in on that. say how much i appreciate the interaction with all of it. and with some of you even personal. , this interaction has been important, remains important in our ongoing reflection on how to design monetary policy. gratitude express my on behalf of of the governing council, the ecb staff for your attention, and your perceptive understanding in these last eight years, but even before. thank you. form of mying to the speech. year has seen a loss of growth momentum in the euro area, which has extended into 2019. bys has been predominantly pervasive uncertainty in the global economy that has spilled over into the external sector. economy hasdomestic remained relatively resilient and the drivers of the current expansion remain in place. remains intorisk the downside. modesty -- monetary policy assessmentflect this . in the face of a weaker growth outlook, they help maintain a policy stance that we managed to reserve last year tha

resaltando la importancia de pasar leyes para que nos puedan beneficiar >> ustedes en comÚn tienen marion de este paÍs. >> sÍ, comoo ha dicho estamos en un miedo increÍble por nuestras familias y por los misiles que hemos cons tribunal por eso nos hemos hecho presente para suplicar y exigir que nos den el apoyo que necesitamos, nos sentimos americanos hemos contribuido siempre hemos hecho lo correcto, obedecer las leyes, tenemos familias, raÍces en est paÍs. >> mario muchÍsimas gracias de manera paralela se celebran audiencias que tienen que ver con la crisis en la frontera, los que estÁn declarando son la secretaria de seguridad nacional y tambiÉn el comisionado de la patrulla fronteriza que estÁ reiterando que tienen una crisis en el sur y que necesitan ayuda y la construcciÓn del muro son los dos temas principales hoy en el capitolio >>> la lucha no termina cristina la salida de centroamericanos de sus lugares de origen podrÍa tener una nueva modalidad que emprende el camino hacia mÉxico y estados unidos, la mayorÍa viene desde guatemala, ¿quÉ tal raÚl torres adelante? >>> a pesar de

matt: we heard mario draghi site protectionism as a determining factor.what degree would you say that trump's trade thoughts and to the have contributed slowdown in the european economy? >> i think most international warned thats have these escalating possible trade wars and protectionism is bad for global economy. tariffs is not making us richer in any way. we are so interlinked with each other, the big economies. it has effects on all of us. if it deteriorates a situation, it would be worse. francine: that was the eu trade commissioner speaking to bloomberg. coming up, in honor of international women's day, we look at where there is a lack of women at the world central bank and what they can do to fix the issue. this is bloomberg. ♪ francine: it stopped raining in london and the skies apel -- a bright blue. here are the reports he findings. iceland is ranking for the welfare of women in the workplace. sweden and new zealand make up the rest of the top three. billion. 14 is the number of places the united states has dropped in the rankings since 2000 and

mario offers to put us in touch with one of his associates. the next evening we meet that associate in a hotel room where he presents us with samples. per. their radiated tortoises the second most endangered in madagascar according to international law exploiting them from the country is illegal or. steal the deal of promise is not only a steady supply but hundreds. shipment. peter. he also says his contacts at the airport will ensure they get through security checks. are. prepared to. hear. it confirm something extort us earlier. one of our customs in all these countries or. their paid off. we're going to get something. what you can get but they're supposed to be in for. your forces or. both x. and the dealer explained the typical route for smuggling same carriers or mules checking the tortoise's in suitcases in madagascar. from there he says the bags transit through a number of other cities by darussalam and to bar before entering asia. shipments we're told end up in his home country of malaysia where they are then sold on to buyers around t

we look ahead to hearing from mario draghi as well.do you want to hear from the tltro three program? ecb have been quite vague because it wants to test the voters on what conditions can be. conditions will not be as generous as they used to be for the first round of tltro. expect the ecb to provide much detail at this stage. the ecb will lay out a few options. i do not think they will really show their cards yet. nejra: with all the limited , does ithe ecb have actually have the tools to lift the euro zone economy from where it is now? or does it have to come from the fiscal side? >> the ecb has maxed out, meaning it has reached the limits of its tools in terms of qe. there are strong political constraints. the rate is negative, which is challenging for the banking sector. likee same time, it looks the cycle is quite close to its end. it looks like the ecb is going to miss its opportunity, which the next downturn will need to come from the fiscal side. there is no really convincing fiscal framework. policymakers in the euro zone need t

back with mario abney and the abney effect. da da da da ♪ soul and it is a hit ♪ i don't need all i need is soul to listen if you please ♪ move your body to the left and to the right ♪ and get, get, get, get, get, get it ♪ ♪ i got no instant grits no ♪ da da da da ♪ soul and it is a hit got no instant grits no instanta ♪ ♪ i dance with soul ♪ ♪ everybody say yeah (music throughout) seresto, serjake...eresto. seresto, seresto, seresto. whatever your dog brings home to you, it shouldn't be fleas and ticks. seresto gives your dog 8 continuous months of flea and tick protection in an easy-to-use, non-greasy collar. seresto, seresto, seresto. ohh no, jake. seresto. 8-month. seresto, seresto, seresto. >>> g gm is sponsored by home instead senior care. to us, it's personal. >> he gets it from me. hey, they're going to be at catfish in brooklyn. mario abney and the abney effect and their album is out now. you can see them tonight. thank you. [ applause ] how does lisa get dressed without turning into a human alarm clock? her organized

focus shifting to mario draghi.his is "bloomberg real yield." ♪ jonathan: this is "bloomberg real yield." it is time for the final spread. over the next week, china's congress beginning in beijing alongside that is the central bank decisions on interest-rate sensitive spotlight on the ecb. we will hear from mario draghi and governor carney. plenty of fed speakers and capping it off, the main event. the u.s. jobs report. still with me, greg peters, mary bowers, and jub hurren. what are you expecting from frankfurt next week? jub: the key thing for us to watch will be any revisions to the staff projections on growth and inflation. they look high in terms of expectations for 2019, given the recent growth weakness we have seen. they have projections of around 1.7% for 2019 versus a consensus of roughly 1.3%. the market will we watching that to see how far that number is revised down to see how the ecb is thinking of policy normalization going forward. there is expectation about an announcement or further news on support

stephanie: mario draghi would tell you, he's been for structural reform for a long time. ecb gets fed up with telling people they are not the only person boasting up the euro economy. there's a structural issue in we eurozone at the time when have been getting a bit more cautiously optimistic about the , we have optimism around u.s. china potential trade deal, and as the world is looking brighter, the eurozone refuses to brighten. the structural reforms you're talking about, even though dragi mentioned --raghi draghi mentioned it. romaine: so we're not quite at the precipice, but a lot of people focus on the extension of this program or the next iteration with it. since a lot of lending costs are going up in june, and this program doesn't kick in until september. is the idea that things are getting bad, but we will let banks tread water for three months? >> i've had conversations privately with some of the senior members of the board about this. they want to help in some sense, and they want to make sure the monetary easing that they have had does not go overnight into th

matt: i don't think so from mario draghi's perspective.et to be looking out for is his official cuts to inflation forecast. they are not real until he says so. hsbc is expecting him to change his forecast to growth of 1.2%. and it kept drastic his inflation outlook going out three years. i think the street really is waiting for any details on loans additional loans to banks. we don't expect to get the very details of that in today's press conference. 2018 is headline of that single headline by mario draghi. could we see another bombshell today, another headline where he extends out even further? that.the could see problem is they don't want to look too week and they don't want to scare the market by being too dovish. i was talking to themos earlier and he said the ecb needs to keep up somewhat of a strong front. you don't expect that kind of turn. they do want to get back out and normalize policy eventually. themos says they will be able to get out of negative rates by next year. francine: when will we find out who replaces mario draghi an