mario draghi speaking.at the bank will begin absent purchases -- asset purchases next week. he addressed key questions about greece. there he is in a live shot from the press conference. also noted, inflation still really, really low in the euro zone. julie: 0%? betty: basically nothing this year, and less than 2% going forward. pimm: that is for a very large number of people in a multifaceted economy -- using the sat word. [laughter] this is huge. it is interesting that you have an italian who is the poster person for europe and the other person may be angela merkel of germany. you have italians and germans chimed to figure out what to do with issues with greece and spain and italy and france. he is doing a good job, isn't he? who else would want to do that? amidst all of this we have to talk about markets. pimm: he is trying to get the value of their currency down. betty: great time to travel to europe. i want to bring in nicholas. -- he has been focused on the nasdaq hitting the 5000 level. he says don't

but can say that mario draghi is very upbeat about the economic developments here in europe. now predicting that gdp growth on average will reach almost 2% by next year and deflation will be back close to its target by 2017. ecb is declaring victory without having started the qe program in the euro zone. annette. >> did it give the juice it needs? steve liesman looks at whether draghi got it right and the risks that still remain. >> reporter: the economy has been so tough in europe that the only bulls you can find are like these. the ones in the running of the bulls in spain. but now there are real economic bulls. people not running from a ton of angry feet but who are actually optimistic on the european economy. >> we think qe will work. it will help the exchange rate as the exchange rate moves lower and europe a lot more competitive. better news in general for the continent. >> reporter: mario draghi announced much anticipated quantitative easing program on march 9th buying 60 billion euros of public and private bonds a month from now until at least september 2016. he said

the three most powerful words ever uttered piano a central banker probably for me makes it for mario draghi. >> so he deserves his super mario label. >> yes. >> thank you for joining us michael. >> now of course lots still to come and also it's been a tough quarter. >> even with me exactly wandering around in those stores. >> childish stores i would describe them as. >> we'll wrap up earnings season in the u.s. later in the show. xkç >> hi everybody. welcome back. you're still watching worldwide exchange. >> here are your headlines from around the world. >> well, positive sentiment ahead of the press conference. investors expecting details on the central banks bond buying program and revisions growth forecasts. >> some of the world's biggest bairngs may bairng banks may be feeling stressed today. >> and buying in bulk. costco reports higher second quarter profits this morning beating forecasts thanks to a tax benefit while revenue was in line. >> they strike a deal for about $21 billion. the drug firm johnson & johnson reportedly had it's eye on. >> you're watching worldwide exchange. bring

ecb president mario draghi says the bank will begin selling $66 billion worth of bonds each month througheptember of 2016. speaking in cyprus, draghi unveiled forecasts showing higher economic growth. he said the ecb is on track to reach its inflation goal come just below 2%. it was once one of the most feared regulators on wall street. now the new york fed has lost power in a behind the scenes reorganization. "the wall street journal" says a little-known committee has taken over the fed's job of overseeing banks such as goldman sachs. the committee is headed by fed governor daniel tarullo. the fed reorganized after the financial crisis. tarullo tells "the journal" it was obvious regulators had not done a good job for the crisis. it is the end of an era at ringling brothers circus. starting in 2018, ringling brothers will eliminate its iconic elephant acts. the circus says it is because of public concerns. animal rights activists have complained that the elephants are mistreated in the past. ringling brothers have said that the elephants are well cared for, not abused, but clearly they ma

coming up, mario draghi's stimulus plan.cb is set to begin its bond buying program next week we will take a look at whether it will successfully head off the threat of deflation. stay with us. that story and more when "bottom line" and more on bloomberg television continues in a moment. ♪ >> welcome back to the second half hour of "bottom line" on television. that's get you some of the top stories we are following. let's check the price of crude oil. the intraday chart shows crude down 1.4%, trading at $50.78. a delta airlines plane skidded off at laguardia. it carried 125 passengers and five crew members from atlanta. they were evacuated after the incident around 11:00 a.m. new york time. early reports is that six people were injured, non-life-threatening. the runway is now reopened. pharmacyclics makes a blood cancer treatment that has been a true -- that has been approved for four different blood cancer uses. what would u.s. business the like if warren buffett had become a journalist/he talked about it in a video intervie

what's your major take away from the speech of mario draghi? >> he was declaring victory in a curious way. he said we have to do qe because inflation eck peckations five years out were falling down. so we had to do something and there is success, you see in growth this year. he has two different ways to measure success and the need for it and the second was the growth and the moderate pick up in ib inflation will continue only if we fully implemented our qe program. >> but he was also saying once again that reversing that traditional argument that qe was taking the insent tif away from governments. he was saying it gives more insentin incentive incentive. >> that story about taking away the incentive for reforms is something that one cannot really prove. more fiscal room might mean that government undertakes reforms that are costly or they might do nothing. who knows. that is an argument which is entirely political and that is an area out of which the ecb should really stay out. >> we're also discussing the benefits verses the potential risks o

we are monitoring mario draghi. of the things the president of the ecb is saying is that the ecb is aware that the measures they are introducing entails financial risks. the big topic is nonstandard measures that ranks are employing, such as quantitative easing. we have seen some downward pressure on yields as a result in the french market. that is a feature of the trading. 14 minutes past 8:00 and officials are gearing up for a look at greek accounts today. let's get the latest from hans nichols. bring us up to speed. hans: the latest from a greek official says that the talks will continue in brussels today. officials are heading to athens and they are already there. the question is, are they actually going to have meetings? that was the question coming out of yesterday. it does not look like any scheduled meetings. they are looking at the books poring over the accounts receivable and what is coming in and out. it is important in order to entertain any possibility of getting that total. he started to hand that his

mario draghi is in cyprus and so is jonathan ferro. john, you are out and about this morning, what will be your key focus? >> i have to apologize because i seem to get the good gigs and you get put on a bridge in zurich and i get sent to the beach. mario draghi bringing the governing council down to cyprus. things are better in the eurozone. you strip out these ugly german factory orders, the pmi's are firming up and retail sales have picked up as well and qe has already been announced. today we want the color, what does this plan really look like? what are you going to buy? duration. do you really what to buy that six-year debt? the news conference will be dominated the questions on the qe plan but the ecb has a pivotal role to play between the nation of greece and their creditors and i don't think mario draghi will be able to complete that press conference without a series of questions on greece and the situations in athens right now. >> jon it has taken two years for the banking sector -- it collapsed inside and they were bail outs

and at 8:30 mario draghi begins a news conference.ore details of the stimulus plan that was announced earlier this year. also at 8:30 we have the u.s. jobless claims and productivity numbers. >>> the b.o.e. announcing it's going to hold rates steady at .5%. let's get a check of the markets this morning. as though maybe we're in for a breather. things change quickly. on the dow up a point and a half on the s&p. less tech heavy nasdaq but we all know you must keep in mind at the end of the day all eyes will be on issues going forward. anyway, and then take a look. i said absolutely nothing, did i, just now? >> you said the exact same thing. >> but we're changing our opinion of that of exact same, i think. >> in some context. >> if it's a penny, it's the same. if it's minted at the same denver mint it's the exact same. it's a clone instead of being two babies. two babies are the same unless they're a clone. then they're exact same. maybe it's not wrong to say exact same. >> going back to exact same? >> i'm giving special -- i think singl

is the ecb and mario draghi can they save the euro project? you can tweet us. re you find us. guy: we will be back in a couple minutes. ♪ francine: details from draghi. the ecb will finalize the bond buying program. guy: you can't prosecutors probing the central bank's liquidity operations. as the mpc delivers the interest rate decision at noon. francine: china downgrades growth. 7% the lowest in more than 15 years. guy: good morning to our viewers in europe, good evening those in asia and a very warm welcome to those just waking up in the u.s. i'm guy johnson. francine: i'm francine lacqua. this is "the pulse," live from london. guy: in cyprus all eyes on draghi. investors waiting for more details on the qe program. jonathan ferro is in nicosia. what about the details? jonathan: we want to know what you are going to buy, what is your appetite for debt with a negative yield. it is done, 60 billion euros a month. the discussion goes forward as to whether this is going to work. fine yields are already at record lows, bund yields, spain italy etc. in places like cy

mario draghi is not likely to back off on tv. that is the irony. if janet yellen is not likely to push the dollar higher then that's going to increase the burden for bank of japan and the european central bank. >> we have seen the decline in the euro, that's not something central banks want. if you listen to the central bank, they have backed off from some of the rhetoric. they think it has gone a little too fast too far. everybody powers in with leverage and the central banks have taken risk away. that has to have a bad ending somewhere. alix: what country or currencies? >> it doesn't have to be the currency market. volatility is compressed and people are piling into risky assets. the problem is where do you hide because everything is floating higher. alix: where do you hide? treasuries and the dollar. >> i wouldn't count on it. >> the equity market rises in the dollar, so if it tanks don't count on the dollar. alix: a word of warning. thank you. coming up next greece is on the agenda as european leaders gather in brussels. the strain of keeping g

manus: we have got mario draghi speaking later on today. new jobs. uk retail sales will be out later on. politics and growth are the two key. issues. geopolitical issues in the gulf region 2.4 million barrels of oil a day pass through that tiny distance at the tip of yemen. if there is an escalation in the yemen dispute, what issue will that bring to the marketplace? now the philadelphia semiconductor index down 5% yesterday. we are seeing a big move in that stocks. you do not often here -- we talk about the semiconductor but it is a benchmark. it tells you what is going to happen in tech land. and the chip makers. so that is one of the big thing spirit you. kate retail sales will come out later on -- uk retail sales will come out later on. that sets up some pretty important statements. tech was one of the biggest issues of the day. the as they cast the biggest one-day move in almost 11. s&p, you had a move down. the dow wiped out this year's gains. there are lots of words we are going to see used. momentum stocks -- those on their definitely are del

mario draghi said, when wednesday? and the deal was done. francine: how did they react?s going to be a difficult sell back home in greece. >> it is going to be very hard. the greek finance minister said that no time has been wasted for greece in the past two weeks that it was a matter of implementing more reforms for greece. there was a big misunderstanding, he said, with the press and what he presented on friday was just the first batch of reforms. back to you. francine: thank you. stay with us. we speak about germany and their take on what is going on in brussels. ♪ francine: welcome back to "the pulse." live from london. guy: good morning, everybody. francine: credit suisse has named a new chief executive officer. tidjane thiam will replace brady dougan. guy: greece is resuming talks with its creditors in brussels today, alongside technical talks in athens. they are trying to avoid running out of cash as soon as this month, as european finance ministers are putting pressure on the government to open up its books. francine: apple has unveiled their smart watch, the fir

mario draghi says greece must open its books.ece could run out of cash before the end of this month. some republican senators being sharply criticized for sending an open letter to iran this any nuclear deal won't hold up after president obama's term ends. joe biden says that undercuts the president's efforts to keep iran from building nuclear weapons. the president is keeping his sights set on getting an agreement. sony's playstation for will reach stores in china 10 days from now. -- playstation four. a ban on game consoles ended recently. sony is banking on playstation four to lead the turnaround. the conductor and 54 people hurt when in amtrak truck -- train struck a tractor-trailer. the third serious commuter train crash in less than two months. the plane took off from -- bound for india. it is on a historic trip. coming up, let's go shopping. the bid for -- a good day for the dollar trading at a seven-year high against the yen. more on that surge, next. ♪ >> and mover that is not a stop over but a crazy one. u.s. dollar tra

yellen's dollar it is mario draghi in the global economy problem. and we consider the beverage of your choice. the good and the bat of "i will have another one." good morning, everyone. this is "bloomberg surveillance." we are live from our world headquarters in new york. i am tom keene. joining me is olivia sterns. we have a packed top headlines. olivia: violence directed overnight in ferguson, missouri, and police officers were the target. two officers were involved in a shooting near the ferguson police station during protests after the police chief resigned yesterday. last year, writes broke out after police officer shot in on arms black teenager. the police officer said the shooting occurred just as many were heading home. >> then i was fairly uneventful until people started heading home at midnight. several of the officers had left the area. to the immediate north northwest of the ferguson police department, several shots were fired. at least three, and two officers were struck. olivia: the ferguson police chief is the first -- is the latest o

for mario draghi and the ecb it is one of the easier meetings. the data appears to be improving , if you are a glass half full kind of guy you will be looking at the pmi. retail sales are picking up as well. nubber two, credit conditions and number three, the finally announced qe. no if's, no butts, no will they or won't they. it doesn't mean it is easy, we want the details of the plan. what will they buy? given that a third of the eurozone sovereign debt stock carries a negative yield. and the perennial headache that is greece for the ecb. they are also at the center because they are the ones keeping the banking sector a life, that will be an issue going forward and i bet greece dominates the news conference. anna: more from john as we go through the morning. mark: will bring you any policy decisions from that meeting along with the rest conference on bloomberg as it happens. we will have the bank of england policy decisions live at midday u.k. time. stay tuned to "countdown." we will be back in a couple minutes. ♪ anna: welcome back to "countdo

hans: know, mario draghi is a frustrated central banker. he was asked this question, are you lack mailing greece and here was his response -- black ma iling greece? draghi: first of all, it is a bit rich when you look at the exposure we have. ecb has 1.4 billion of exposure. this is equal to 65% of greek gdp. it is the highest exposure in the eurozone. of blackmail is this? hans: you take these comments from draghi yesterday and add to what he was saying behind closed doors late thursday night, expressing frustration they were not giving him access to the relevant data in athens you can see that the ecb is not in a forgiving mood or a negotiating mood. the emergency liquidity assistance and whether to raise the ceiling, the ecb has as much say about liquidity as the eurogroup. jonathan:ryan: time for a bloomberg exclusive interview. george soros sat down with francine lacqua. he said the allies should do whatever it takes to save the war-torn nation. soros: it is a political decision on the part of ukraine's allies that they must do whateve

mark: mario draghi weight and again today, saying he can't endorse further support for greece until he's convinced the prime ministers likely to meet the conditions of the bailout. is there enough time to restore what he called the policy dialogue between athens and the representatives from the european commission and the international monetary fund? hans: the time question depends on how long you think greece and last of four they need a bailout from what we used to call the trike a. i know we are focused on this press conference, but in some ways, mario draghi's comments were more impactful and more meaningful. he was quite harsh talking about challenging this notion that the ecb is blackmailing greece, noting there's some 104 billion euros in outstanding loans to greece and in some ways mario draghi is assuming the bad cop role and angela merkel may assume the good cop role. there's so much more that has to play out and we have some anymore other meetings. symbolically, it's a nice press conference, but said -- -- but we haven't really got a lot out of it. mark: substantively, what do

ecb chief mario draghi and his colleagues meeting in cyprus have also announced that the ecb is keeping its key interest rate steady at 0.05%. >> investors are closely -- have closely watched that ecb policy meeting. let's bring in our correspondent who is standing by at the rank for stock exchange. how has this news gone down with investors where you are? >> well, the german dax stock index reached another record high shortly before the press conference that mario draghi gave today in nicosia had started, but this press conference confirmed the optimism at the market had shown before the growth predictions for this year and next year by the european central bank were revised upwards while the inflation outlook, at least for this year, was revised downwards, which means that the european central bank probably will really keep its bond purchase program on for a considerable time. >> how soon can we see the effect taking place after now this plan being implemented across the european union? >> that is a discussion which is really going on on the trading floor and it will really look and s

ecb president mario draghi is claiming victory for his stimulus program before it has even started. 's 1.1 trillion euro program of qe will begin on monday. he says it will start the fastest growth in the eurozone since 2007. anna: russia and ukraine are on the agenda when european union ministers meet today in latvia. the kiev government began to withdraw heavy weaponry from its easternmost regions in february, with withdrawal continuing as the peace accord takes hold. mark: ukraine's government has been talking about the economic cost of the conflict. if foreign reserves fell for a ninth consecutive month in february. output is expected to shrink this year. kiev is receiving $17.5 billion in international aid. anna: let's bring in tony. good morning to you. what signs are there that the cease-fire will hold? >> good morning. as you said, ukraine's military is withdrawing more of its heavy weaponry from the frontline and it says it will continue to do so as long as the situation remains calm. rebel forces say they will also pull back their material. generally, the impression is from

mario draghi with an unprecedented program of qe.e day that the central bank up against asset purchase program and managing 60 billion euros a month. in brussels, the eurogroup finance ministers meet terry anna: yanis varoufakis said if the creditors make requirements of that are not acceptable the greek people may be asked to decide on how to break the deadlock. and tsipras signaled a referendum option could be on the table. let's bring in david powell he is chiefly euro area economist at bloomberg intelligence. he joins us. good to see you. let's talk about the data coming out of the eurozone. it has been getting better, hasn't it? this qe really needed? david: it has been getting better and part of the reason of confidence and etc. but inflation is at a record low. record low, so inflationary pressures have never been so weakened in the euro in terms of qe. mark: a yet they ecb meeting last week and the forecast was for inflation to get back to its target of the forecast period. are you confident will live to the threat in the eur

mario draghi was there. it was not in the mario draghi textbooks at the time. an economic one. a lot of us think europe will rebound. it is a political one. >> he has done a good job of steering between a strong consensus in germany which is to be very tough and austere and a problem in the southern half of europe, which you need a bit more loosening up. trying to keep both sides of that on board and still keep faith in the euro. >> you mentioned this earlier. the separation of a political european experiment and a union asked berman. i can agree that berkeley was way out front about this. -- and a union experiment. the angst of de gaulle -- do you have an optimism that your europe can continue to some form of union? >> you want to distinguish the european unity and the euro, a subset of the larger market. there has been a lot of skepticism about the euro and it follows the unification of germany -- many people thought that was pretty mature -- premature. you did not have a fiscal union to support that monetary union. >> where is the comrade? where is the leade

i want you to listen to what mario draghi said about inflation. inflation rates are expected to start increasing gradually later in 2015. this assessment is also broadly reflected in the march, 2015 ecb projections for the euro area which forced the annual inflation -- which foresees annual inflation at 0% in 2015 1.5% in 2016, and 1.8% in 2017. betty: i don't know about you, but to grow from zero to 1.5 and a years time, that's a pretty big job will stop -- a big jump. will it be enough, this program is putting in place? mohammed: i tweeted out today the ecb staff notes. my reaction is that they are overoptimistic. they are factoring in the most expensive effects of a number of things that are only partially tested. if you look at what they've done to the nominal gdp estimates, they hike them up both from the growth side and the inflation site. i hope they are right, but i don't he will be. betty: what will happen then? will we see some kind of shocked? that -- mohammed: verse and foremost, it's because to the diversity of the market. they have c

we will bring you the latest of mario draghi's speech in frankfurt.dits we sti -- credit suisse chief executive tells bloomberg his replacement is the man for the job. >> he's got the management background. he's got a strong track record in the emerging markets, both of which fit well with our business. anna: meeting the creditors. european finance chiefs gear up for talks with grace. else remain about whether athens will open its books for inspection. we are live in the capital. mark: welcome to "countdown." anna: warm welcome to the second hour of the program. also coming up, pharrell williams and robin thicke pay a multimillion dollar tribute to the late marvin gaye. but by the hand of the court. we bring you the latest. mark: let's talk markets. the strongest dollar and weakest euro in a dozen years fueling a selloff in global equities. the s&p 500 closed down. corporate earnings are in worse shape than investors recognize. the ftse 100 fell 2.5% in london, pullover by commodities. european equities closed lower as well. the euro-dollar fell to $1

here is mario draghi speaking. mario draghi: it will be implemented swiftly and effectively. this will not only increase the future sustainable growth of the euro area, but also raise expectations of hiring comes and encourage firms to increase investments today, bringing forward the economic recovery. cory: and with the bond buying the ecb boosted its forecast i half a percentage point now projecting growth this year. congressional leaders are asking president obama to provide weapons to ukraine. democrats and republicans find the letter. ukraine is pulling back heavy weapons from the frontlines. german observers say it remains fragile. the east coast is getting pounded with another snowstorm and it has caused serious travel problems. the more has been shut down and your a flight skidded off the runway and crashed into a -- lag uardia airport has been shut down after a flight skidded off the runway and crashed into a fence. they are buying the company for $21 billion, outfitting johnson & johnson for pharmacyclics. new york city is the hottest luxury property market. home pr

guy: mario draghi and the new ecb headquarters. 10,000 people outside. francine: good morning to the viewers in europe and those waking up in the united states. guy: we are here in london. francine: we have the news. we have protests in front of the headquarters in frankfurt. for more, we are joined by mike on the program. great to have you. how much are you putting on the budget? this is the political budget and the elections are days away. we will get a budget after the elections and if it shifts the polls, how much? it looks like we are in a minority government and anything that shifts the polls would be good. guy: a has shifted since the autumn statement. >> as it stands, he will lower it for this year by a couple billion and it will lower inflation and welfare payments for the future years. he has 23 billion pounds and he has wiggle room. how much can he use and retain the argument that he is a responsible chancellor and that is the key challenge he has got. francine: the election is difficult to call. is there something that would scare investors a

mario draghi we call him super mario, his speech this morning was reminiscent of a pep talk, right, andwhat are they doing on monday? coming out with their qe policy. interesting that march 9th this coming monday is the six-year anniversary of the bull market in the states but he is going to stick to the plan, jackie and the euro seems to be going lower and lower. >> the obvious trade right now. scott nations do you feel like the euro is going to go lower or anything that could turn this around? how would you trade it now? >> it's really tough right now. scott talked about the fed below 110, down 6 straight days in a row, longest stretch in over a year. traders hate to sell or short something into the hole like they would have to do with the euro. but if you're a buyer of the euro the absolute best you can hope for, the absolute best you can do is to take their euros in cash, buy a safe deposit box and stash them in there. >> all right. for more on the euro and the actual trade come to the website, futures now.cnbc.com at 1:00 p.m. eastern time and talking about that and also talk to lo

here's ecb president mario draghi.ario draghi coley we have not proceeded far enough to put all of the questions about the euro to bed. to do so, we have to accelerate both our economic and -- convergence. cory: the ecb bond buying started last week. foreign policy talks between iran and six world powers about their nuclear program are at a critical stage. >> we are injuring crucial negotiations. there are still steps to be tackled. we hope tonight that our european side contribution can help in solving or closing or narrowing some of these steps. cory: iran's top diplomat arrived in brussels after meeting with u.s. secretary of state john kerry in switzerland. secretary kerry says that he is hopeful a deal is possible, but he indicated that the united states will walk if it does not meet the administration demands. after more than one million people in hit the streets this week and calling for dilma rousseff's impeachment -- there have been a high gas and oil prices and massive inflation. uber said its chief financial

. >> we have mario draghi coming in with stimulus. china likely to come up with stimulus, especially after the port import figures -- poor import figures. quick do they need fiscal stimulus in addition to the monetary stimulus they have been doing the last three months? there have been calls for further easing. do they need fiscal stimulus? >> i think they absolutely do. you are going to see that coupled with a lot of fast tracking of reforms and opening up of the capital markets. there is a lot of stimulus happening from mario draghi from japan, happening in china. what that means is that interest rates in the u.s., which are going to go up, most likely midyear, are going to be contained, at least initially. the good news is that we are starting to see some synchronization with global growth again. when i look at the numbers, it is only russia that has a negative presence. let's take a look at the central bank policy. the u.s. is the only one raising interest rates versus the rest of the global economy. is this going to be the collat

francine: mario draghi also weighed in from brussels. is he a sympathetic central banker? hans: he is a frustrated one. he was asked about whether he was blackmailing greece and he had a strong answer. he thought it was a bit rich. he noted the ecb's total exposure to greece. this keeps with the thursday night meeting that was in brussels with mr. tsipras and euro area officials. it was really mr. draghi who was pretty firm and pretty harsh on mr. tsipras for not giving ecb officials access to the relevant books they need. mario draghi seems increasingly frustrated and that is important because he will be among others determining the raises. francine: thank you so much. i also asked billionaire investor george soros about greece. he said the situation is now a lose-lose game. george soros: the situation is quite serious area the situation has deteriorated -- the situation is quite serious. the situation has deteriorated. the desire to hurt the other greece's performance has deteriorated. they are hurting themselves doing what they are doing. europe, also. if it pushes gree

we are at a position in europe where mario draghi is going to have to move heaven and earth to get the channel to work again to deliver credit to small and medium-sized companies. states do not even worry about this because they have a different way of financing companies and businesses. how much effort is there a necessary inherent to deliver a better financing model? and how much effort will it take to get the capital union off the ground. >> the american model is quite different to the european model. 70% is through capital markets and 30% through the banking system. in our case it is the other way around. there is an important advance we need to make. that does take all kinds of things. how the investors look at this the security. i think it can be done. under lord hill, in advance has been made. it has been desired by jean-claude juncker to have the capital markets union. i think it should play to the benefits of london. guy: some argue london would be one of the main beneficiaries. is that going to be a force with -- which detracts in continental minds for making this happen? sir

mario draghi and the european central bank launch the qe offensive. look at these moves.o-dollar on your screen. we dropped below 1.05 this week. we are still flirting with 12-year lows. here's the picture of the german bond market as we end the week of qe. german bonds, the yield on the 10-year has pretty much halved over the last week. yields are a little higher this morning. 0.74% right here right now. the two-year with a negative yield of 0.24%. quick check in on the equity markets. the big story, the dax is higher by 0.1%. on the week, headed for a ninth straight week of gains. the biggest winning streak since 1998. the next pitstop 10:30 u.k. time. will they cut rates? our survey says yes. if you want to continue the conversation, i'm on twitter. good luck for the rest of your day. ♪ scarlet: tsipras in brussels. francine: fiat chrysler says a deal could be done. probed by the fbi, bill ackman's fund as investigated. we will speak to the billionaire investigator later today. welcome to "the pulse," live from london.

mario draghi speaking later and the fed stanley fischer speaking later.ipras in berlin. a busy morning. good luck to you. ♪ guy: there will be an attempt to convince merkel that he is a good bet. it the greeks point their finger at the ecb. it we speak with christian noise a. of 10 china move closer to taking over for rally? good morning to our viewers in europe.

what was the main take away from mario draghi? jonathan: it sounded like a victory lap and maybe i am sounding cynical. better forecasts, things are less bad, things are getting better. the forecasts are implemented on the full condition of implementation of policy. it has been very quick. in typical journalistic fashion i'm going to ask the question what is the level they are comfortable with? what are they uncomfortable with? way below one? francine: a lot of people said that qe was going to play on the currency. how much is the dollar strength --is this dollar strength? jonathan: a lot of it. a lot of it has been dollar strength. how tolerant is the fed going to be of the stronger dollar? expectations for a hike they are getting closer and closer. will we get one in the summer? that is a big focus. francine: thank you so much. 1.20 is where it should be. parity will not hold. jonathan: that is not the french -- first french policymaker to make a call like that. francine: thank you so much. to greece and stillness sign that the

mario draghi was very positive on the outlook of european growth. big fan of mario draghi. the stoxx 50 is fractionally down. let's see where we're seeing the movement. you can see ftse is down fractionally. germany and france just below flat. italy is managing to eek out a slight gain. this comes off two days of strong returns for european equities so we're finishing with a little bit less wind in the sails. let's dive into one stock in particular. thomas cook soaring 15% after chinese fosun international snapped up a 5% stake for under 100 million pounds. the group said in a filing it hoped to raise that stake to 10% although it does say it's not looking for an all out takeover. let's move on and look at bonds. as we were just talking about, the u.s. ten year yield is now 2.1%. we saw a bit more yield compression on the german ten year. .3% following comments yesterday but most action in europe italy, spain, portugal which today are hitting record lows. 1.28% for the italian yield. greece is the exception to the rule and yields remain elevated. the euro has seen a lot of

europe readjusts and recalibrate stu mario draghi. -- re-calibrates to mario draghi.he cotton terry cloth sweatbands. there are a sweat in cupertino over the birth of the apple watch. good morning everyone. this is "bloomberg surveillance." i'm tom keene. it joining me, olivia sterns. let's get to our top headlines. olivia: republican senators are warning iran to not negotiate the nuclear deal. any agreement they sign with president obama will not last once he leaves office, they say. they have been pushing to have their say if and when a deal has been signed. president obama said the country is willing to walk away from nuclear talks with iran. president obama: if there is no deal, we walk away. if we can verify that they are not going to obtain a nuclear weapon, that there is a breakout period so that even if they cheated, we would be able to have enough time to take action if we don't have that kind of deal, then we are not going to take it. olivia: talks are scheduled to resume within one week. five suspects have been indicted in the killing of an opposition leade

mario draghi: there must be a leap in institutional convergence. we need to move from a system of rules for policymaking to a system of further sovereignty sharing with common institutions. brendan: draghi says the feeling of no accountability has led to the rise of populist movement speed apple in talks with networks about rolling out online tv. "the wall street journal" says apple wants a bundle of 25 channels that would include abc, cbs and fox. nbc universal would not be a part. apple and nbc have had a falling out. a first-year nfl player is calling it quits because of concerns about head trauma. he started eight games with the san francisco 49ers and led the team in tackles. he says football is not worth the risk. 5000 former players are seeking damages for head injuries. tom: german zew the expectations index. a bit of a bid on that news 1.0609 on the euro. oil is south and ugly. 43.32 is challenging to say the least. the vix showing good equity markets, resiliency 15.61. gold churns. brend crude -- brent crude is jaw-dropping. i thought with

francine: the ecb president mario draghi is speaking this morning at an event in frankfurt.e said he sees upward gdp revisions due to oil and the qe program. we have been talking about parity between the euro and the u.s. dollar. guy: people are talking about it going further than that. let's check in to show you what has been happening. it has been an interesting couple of days. the dollar story is beginning to have a story in this space. the ftse is being eclipsed by other markets. it does seem as if we are starting to see money flowing toward european equities. you look at what mr. draghi has been saying. a bit of qe, a lower exchange rate oil -- all of those things should manifest themselves in stronger economic growth. yesterday, not so good. this morning, the losses have been recovered. francine: definitely. we saw two days of losses and now have gained 0.1%. we want to show you the french 10 year yield. for the first time, it is below 0.5. guy: weird markets is the only way of describing it. francine: weird is a technical term. guy: in my view. francine: but that is e

mario draghi signaled inflation will pick up in the year.greece remaining a top concern for european investors. a weaker dollar has sent the dow jones and the s&p 500 down at the close. the dow closing the session flat. the nasdaq is down about .3%. singapore's founding father has passed away this monday at 91. he is credited with making the country one of the wealthiest in asia and least corrupt. he transformed the tiny southeast asian nation into a roaring tiger. >> a first world oasis in a third world region. that is how he described his country's unlikely economic success. >> we are very proud of singapore. >> over the course of his years as prime minister, the country so it's economy grow at 6.9%. his emphasis on developing key sectors, electronics and chemical industries, paid off. and so did the creation of the state owned investment company in 1974. it helps for the success of singapore airlines as well as transformed the island into the largest container port. >> you can see the kind of economic growth, we see the structures. laura:

how do you see mario draghi delivering the recovery in europe?terday about a moderate recovery beginning to take hold. is that your assessment? guest: it is clear there is a recovery in europe. it has been for the last few months or more. this is based on the credibility of the central bank. based on the statements of mario draghi. everything will save the euro. to recover in europe. it's working. renwe this program -- renew this program is open-ended and massive. it has to work, at least at the beginning. it has to be straight. the recovery is very modest. we are talking about a very low rate of growth. the debt problem in europe is not been resolved. guy: is the growth strong enough to offset the problems we face? the growing debt unemployment? mr. bjejer: there is a possibility there is a dynamic here that t throughhe rate through the credibility of the central bank, through the recovery that the rate will go up. but you still have problems in certain countries, problems of credibility. in the long run. and you still have the debt problem. the

as well as the ecb's mario draghi. money being frozen related to the petrobras scandal. nine investigations have opened and are based on allegations of corruption involving eight resilient citizens. -- eight brazilian citizens. in his last budget ahead of the election, the u.k. chancellor spoke of an end to austerity. he announced help for first time homebuyers, and tax cuts for beer, cider, and scotch whiskey. mark: join the conversation on twitter. tell us what you are following to hear more about. this is where you will find us. coming up, we are going to discuss risk and reward in the post-fed environment. ♪ >> let me emphasize again that today's modifications for forward guidance should not the red as indicating the community -- committee has decided on the timing of the increase. in particular, the change does not mean an increase will necessarily occur in june. although we cannot rule that out. mark: that was fed chair janet yellen. she says the committee will no longer be patient about returning to a more normal monetary policy. while at the same time, fed offici

olivia: i have a headline here from mario draghi thing the upward gdp revisions you mentioned are duef it due to fiscal policy. rosenberg: every time he talks about monetary policy is that monetary policy without fiscal policy won't achieve the ultimate goal of sustainable economic growth. tom: within this is if it walks like a duck and quacks like a duck it is a duck. the trade weighted dollar is out three standard deviations, a strong dollar from the beginning of the financial crisis. is it the beginning of a 1995-2002 trend? i put that on bloomberg radio plus. rosenberg: we can see the chart. you had a post crisis environment. the u.s. and the federal reserve led the pros -- post crisis response with euro interest reserves. the dollar overall was on a downward trend in what you see here is the dollar has made a breakout. what we're talking about here is a significant inflection point in monetary policy. that is part and parcel of the progress the u.s. has made we can normalize interest rates and the expectation here, you can see on the chart of the dollar could go much further. tom

when you look at what mario draghi and the ecb are doing, part of creating jobs is making europe cheaperattracting more foreign investment. foreign investment as tourism is great investment. it puts people po work. europe will look relatively cheap to a lot of the world this summer. that's good for the employment picture in europe. a lot of us are going to plan vacations in europe this summer and that's what mario draghi had e intended as he started down the quantitative easing plan. >> inventories a few moments ago, i think we hit 47 and change. you said in january, could go to 30. >> i said it could go to 200 and 30. they both could be correct. >> okay. is the picture any different to you? >> no. i'm very much concerned about the short-term window here in the turnaround cycle that we've got going on in the united states. we're coming out of the winter heating oil season, refineries are turning around, refining capacity to manufacture more gasoline, for the summer driving season, as they turn around refineries they don't need oil for weeks or months depending on how long the turnaround

but is it too little too late or are investors confident that mario draghi's plan will provide much-needed economic stimulus? >>> hello, midday here in london. 7:00 a.m. in washington. 9:00 p.m. in seoul, where an attacker has slashed the face of the u.s. ambassador to south korea. it was at a breakfast meeting that mark lippert was knifed by a man, calling for the reunification of north and south korea. it left him needed 80 stitches. the north has described the attack as just punishment for u.s. warmongers. our correspondent in seoul is stephen evans. >> reporter: the attack was vicious and serious. ambassador lippert was struck with a knife at a breakfast meeting the at an arts center in the south korean capital. a 55-year-old man lunged at him, slashing him twice, once in the face and once across the body. >> i'm bleeding here. i'm bleeding here! >> okay. >> i'm bleeding here! >> reporter: bleeding from his face the ambassador was rushed from the building and taken to hospital. the attacker was arrested and pinned down. he'd shouted that he wanted a unified korea. he also voiced anger

. >> mario draghi authorized the ecb building in germany today but the ceremony was met with protests that he rupterupted into riots, the measures imposed by the ecb. annette. >> reporter: in frankfurt on the streets. [ chanting ] >> reporter: more than 10,000 people took to streets here and had clashes with the police. they were protecting of course against the austerity policy of the e krrk bcb many live in poverty because of the policies of the ecb advocating. bottom line from the day is that we had more than 80 people injured from the police. many burning across town and there is part of the town where essentially blocked by the police. people living and working in frankfurt were actually asked to stay at home and not to go to their workplace because it w for "nightly business report," annette avisa in frankfurt. >> the u.s. reserve policy statement. the commodity was lower when inventory showed another massive build-up with record highs for the tenth week in a row. with the dollar tumbling after the policy statement, oil prices rallied with crude settling up almost 3%. brent sett

mario draghi speaking now in cypress, detailing the ecb's plan for stimulus.o strengthening after hitting 11-year lows to 1.10 but raising gdp for this year, i think, to 1.5, right? 1.9 and 1.5 for next year? >> it's funny to see this is something that they've been talking about, and now, as i've been saying, plants growing in europe. no longer green chutes but deflation versus inflation. need so get some inflation, that's their plan. they'll do. i also think this is going to bring the euro down to a dollar. you know there's just no reason you can own their paper, these rates are crazy. >> that's not an insignificant thing to say we're going to parody. the way people -- 1.28. wow, 1.28. could be going to 1.10. there we are. now going to a buck -- >> have you seen yield? how could you own those with any consciousness if you are a -- if you're a fiduciary there, i think you have to sell those bonds to the ecb and buy our bonds. of course you have to buy dollars first. >> multinationals only 15% of the s&p, something like that. but i want to look at guys selling