mark mccormick is still with us. getting all of these he deals -- all of these details . what does this mean to you, the headline? >> the first point i would make is the market has really gone ahead of itself. cuts is of rate entirely premature. we had some strong domestic demand published this morning for the euro zone first thing, and we've seen wages pick up running at they, fastest rate of wage inflation since 1999. in terms of the tltro's, the devil will be there in the details, but it is there. maybe it is not quite as generous as some people in the markets were expecting, but if they had that and target, they can still borrow at a very low rate, and that will help the recovery. for the italian banking sector, maybe it is not perhaps as generous as they were hoping. we will have to wait and hear from mario draghi at the press conference. david: which we will be taking live here on bloomberg television, of course. when we talk about what the market was pricing in and expecting, does that readthrough to business

mccormick, did not have that rating. he was the only death reported from the crash. the cause of the crash still unknown. japan's prime minister is heading to iran today, marking the first visit to that country by a japanese premier in 41 years, partly aimed at easing tensions between washington and tehran. the $120 billion merger between united technologies and raytheon facing stiff resistance from hedge funds. activist investor bill akman sent and e-mail to the ceo of united technology arguing the deal makes quote, no sense shares would be diluted. the new york post reports that thathird point also proposes the deal. today, maria bartiromo will speak with united technologies' ceo, greg hayes, as well as raytheon's ceo, tom kennedy. renault shareholders are expected to vote in support of chairman john dominic cenard today. renault's biggest shareholder, the french government, says he has their full confidence. tensions report as he considered resigning hours after fiat chrysler withdrew the merger offer last week bans france failed to -- because france failed to back the deal. in honor of what would have been his 95th birthday, the u.s. postal service unveili