let's get an idea on that, matt miller outside the hq. be interesting to see how volkswagen shares trade today. they did trade of a gun wednesday afternoon's game the company would switch out the ceo for the head of the volkswagen brand. all of the stakeholders came here for a supervisory board meeting and they approved him as the new ceo. today, but he is molar is out. the interesting thing will be to shareholders react. he had done a fantastic job financially at least. margins were up strong, cash flow with a good. he had a plan in place for 2025. it looks at the company will still adhere to this closely. in,it looks like diess is and he has the reputation for cutting costs. he needs to continue to keep costs under control as they invest in the electric space. they want to be a leader in this space. they want a new electric version of every model by 2030 and they are really pushing big into that with tens of billions of dollars in investment. it is interesting to see that shareholders react positively to this ceo switch story. guy: let's

matt miller for us in frankfurt. bring you more analysis on deutsche bank throughout the day. matt miller will be speaking to speich at 8:30 a.m. u.k. time. toer 9:00, we will speak hans christoph hirt. ahmed --s, solomon salman ahmed. at the top,hanges we will see more deutsche, less bank. are we going to have fewer take global investment banks in europe to compete with u.s. banks? >> i think i agree with that. it started after the global financial crisis. i think deutsche missed the boat on becoming -- there was a window of opportunity into the financial crisis. i think the fact that they have an eroded capital base means they cannot compete with u.s. players. there is an identity crisis going on, and probably less bank, more deutsche. manus: let's see where these discussions go on trade. where do you think this goes to? that tweet trump sent out over that we are saying going to get on just fine, xi jinping, be buddies, and china will do the right thing. to match the u.s. with $100 billion, but they don't import en

benjamin wittes, matt miller, and david frum. benjamin, you know james comey, you're a friend of james comey, you were one of the first people to be aware of even the existence of these memos and these conversations that james comey had with the president. i want to get your overall reaction to what you just listened to in the last hour. >> so i -- i -- i mean, it's obviously a pretty dramatic thing to see the -- to see that interview kind of -- and the memos sort of unfold through the lens of that interview. look, the really striking thing is that these memos say the same thing as the book, and that the book says the same thing as his testimony. and, you know, as rachel just said, you know, when you're looking for indicia of credibility consistency over time is one of the key ones. and, particularly, the ability to recount in detail an incident that you recorded and talked to people about in real time when you then don't have access to that material, and to do it in a way that's consistent in a lot of particular details, it's en

we've got what matt miller just referenced. the dangling of pardon in front of former attorney john dowd and we have the president tweeting about pardons. if you're the mueller team and you're investigating potential obstruction of justice, do you have a team looking at pardons? >> not only do i, but mueller does. the indications are he's going to be giving a report that will have four different counts, as it were, of possible obstruction. there is the air force one incident. the firing of comey. there's the pressure on sessions. and the fourth is this dangling of pardons. as matt says, although he's got a lot of power to use pardon, it's a different thing to sort of dangle them quietly on the qt saying just keep quite skpet there will be a pardon at the end of the day. that subverts the whole notion of pardons. it doesn't give rise to the one check we have, which is the sort of public airing of them. and that potentially could be obstruction and mueller is taking it as one of his subject matters. >> okay. and speaking of muell

i am matt miller alongside guy johnson in london.the world are gathered in the city for the second day of city week. anna edwards is there with the guest. pleased to say i am joined by valdis dombrovskis, vice president, european commission with a focus on financial services. very good debt be with you. let's talk about what you are here to say. your speech in the program says key issues in financial services. give us a little flavor of what you will talk about this morning. i am here to talk about main issues in the eu, concerning financial services relation, our work on completing of the banking unit. the development of the capital markets unit. and also on the brexit related issues, how preparedness is going, and what issues when he did concentrate on. anna: can we talk about contracts? they call to have a solution to outstanding contracts. were there concerns that they would not be fulfilled post-brexit, is there a role here for the eu? this is what are the issues we are obsessing. we do not want to see issues that could not be s

joining us now david corn and matt miller. david corn, i don't know about you, but if i'm going to have surgery, i would like to have the surgeon to have done the same surgery sometime before. rudy giuliani hasn't been involved in any kind of critical investigation as a lawyer in decades, but he's the guy who's sitting down with robert mueller now. >> if you're rooting for donald trump, this is not good news that rudy giuliani is his lawyer. if i can tell a very quick story, i'll try to tell it quick, at the last debate of the 2016 campaign, i went up to rudy giuliani and i said, what do you make of all this lock her up stuff that came up during the debate, at the convention, you're a former federal prosecutor, you worked at the justice department, you care about having a good system here, isn't it going beyond the pale. he turned his face inches to mine, turned beat red, said she should already be in jail. she's guilty, guilty, guilty. i had no follow-up question for rudy giuliani, i thought he went bongers. i understand why

i matt miller. manus: i am manus cranny in dubai. these are today's top stories. matt: new sanctions over syria. the u.s. set to announce fresh action against russian leader, -- nikki haley says washington is sending a strong message. manus: delay in the doj. donald trump lawyer asked a judge to block prosecutors from reviewing evidence in the fbi's raid on the president personal attorney. matt: fall from grace. after three decades, martin sorrell quits amid allegations of misconduct. all right. welcome to the program here. let's take a look at some of the assets that will show us directions in this morning's markets. oil in the middle east, you would expect the oil price to rise. very strong into the action. right now, nymex crude actually down under 67 of $.55 a barrel. that is a drop of almost 1%. nymex crude, as the u.s. production numbers grow. you're going to want to continue to pay attention to the data sets coming out of the u.s., because we continue to see more rise.re rigs a three-year high in the rate rates. jp wide. the u.s. a little bit of strength on

matt miller with us as well, a national security analyst for nbc news. julia, let me start with you. what more do we know? i would imagine the distinction here is fairly important between rosenstein saying he's prepared to be fired and rosenstein saying he's about to be fired. he thinks that it's coming. he thinks it's imminent. correct? >> this is more of him reading the same things we're reading. it's just been a really sharp change in his mental state and his tone in the conversations he's had with people close to him over his tenure. they have said that this week they have heard from a very stoic rod rosenstein, that he's been repeating the phrase here i stand, that's a martin luther quote. it's also the same one jim comey repeated in george w. bush during a tenuous time in their relationship, to try to say he believes what he's done is right and he will let the political chips fall where they may. it's also really important to realize that there was a time here where rosenstein was very anxious. these people were getting calls in the middle of the n

i'm guy johnson alongside matt miller today. covering a you bf today. ,ust spoke with sergio armani the investment bank a leading the way in the first quarter of the cash trade, less than 30 minutes away. ♪ guy: as matt says, we are trading up.

i want to get to kristen and matt miller. matt, first to you, the first one that comes to mind is, this is the first tomb we haime we h comey's memo. after his meeting with the president, the president expressed reservation, serious reservations about mike flynn. let's talk about that. let me read it to you. the memo says, he then went on to explain he has serious reservations about mike flynn's judgment and illustrated with a story from the day in which the president apparently discovered during a toast to theresa may that called four days ago that someone redacted and called four years ago, if the implication from the rest and the context seem it may have been vladimir putin. it was clearly the head of state. the return call was scheduled for saturday prompting a heated approval. six days was not the appropriate time to return a call from the name redacted. she was explaining she was the first to call after the inauguration. and flynn interrupted to say, blank had called first. the implication of that is that that's the que

. >> we're joining by matt miller spokesperson for eric holder, and back with us, jill wine-banks.to the president's full response to that question he asked himself of should i fire robert mueller. >> why don't i just fire mueller? >> just fire the guy. >> i think it's a disgrace what's going on. we'll see what happens. i think it's really a sad situation when you see what happens. many people have said you should fire him. we'll see what happens. i think it's disgraceful and so does a lot of other people. this is a pure and simple witch hunt. >> matt miller the president asks himself if he should fire robert mueller and his answer to himself is we'll see. >> which is what he said before when he wants to leave possibilities like this dangling out there. i think what we saw from the president today was a real melt down. this is a president who kind of came up hinged and was raging at the faithful execution of law, this was a search warrant that was executed after multiple reviews in the justice department and signed off by a federal magistrate judge, wondering why his own attorney g

he's the manager if robert mueller is the coach. >> matt miller with that great analo analogy.he car is the u.s. attorney for the southern district. he's a former rudy giuliani partner, a trump appointee but he's an a 120-day appointment. come may he's out of work? >> yes. i think you have to ask the question at this point, after this raid will the president nominate him if you look at how trump behaves. it's unlikely he won't. after may 5th the chief judge for the southern district of new york will appoint a new u.s. attorney. they will serve until they replace them. we haven't seen a nomination. it will be months and months that this new piece of investigation is overseen by a u.s. attorney that's no way appointed or has connection to the president. >> tom winter just to indicate the importance of this and why perhaps the president is so furious, it's his personal lawyer who are has been a part of the trump organization negotiating major deals. he's the keeper of all the secrets. >> i mean, president trump just because of the tsheer amount of properties he's has, his time on

i'm guy johnson alongside matt miller today. tt: i'm here covering a you bf today. ,ust spoke with sergio armani the investment bank a leading the way in the first quarter of the cash trade, less than 30 minutes away. ♪ guy: as matt says, we are trading up. sergio monte telling bloomberg he is very much focused on growth now. carrying the torch for europe. emmanuel macron kicks off a full state visit to the united states. can he convince president trump to keep europe a part of trade? another hit to deutsche bank. h&h cut its stake after saying it wouldn't. earnings come through in frankfurt on thursday. matt? a halfe are less than hour away from the start of european trading. if you take a look at equity index futures, a looks like we could have a slightly positive start to this week on monday morning. bondu take a look at the yields, treasury yields especially, it's a very shocking picture. 2.97% right now. we are getting closer to the 3% threshold. how will markets react if we get there if we go above that and hold? it will be

matt miller, of course, in berlin. does vw need a new chief executive?eed a not think they new executive right now. i do think the transition with mr. diess, i think the transition would happen anyhow. we did reserve frustration when we spoke to mr. miller regarding the change. he is turning 65 it. it is good that it is happening now. it clears some of the uncertainty. mark: what does the vw led by diess if he is named tomorrow, how does it differ from the vw led by mr. miller? difference is group holding. optimalnot have major -- operational brands. i would expect if it becomes a group ceo, he will keep his responsibilities as the vw brand as well. that is the management structure that volkswagen had in place when miller moved in and moved up in 2015. vonnie: from a management culture point of view, will he be popular among the staff? is popular.nk diess he is known for being demanding. he is extremely smart. he is challenging for everyone who works with him. that is a good thing. he had his issues with the workers council which is very powerful at what

it is just 7:00 over in berlin with matt miller in paris, or with many other places beyond. , we still have a late hearing of losses in the u.s. over those headlines around the probe being conducted in washington. that was part of the story in yesterday's session. the focus remains on commodities, inflation and technology. the msci asia-pacific index down. japane chief chipmaker in making everyone question just how many handsets they need. inflation is also still very much a part of the conversation. we now have 2.91%, on the u.s. 10 year. that happened in yesterday's session. breaking market expectations of inflation and given a clue of where the markets think that inflation will come in. people again are asking about what the link is between the comedy surging have seen, not just in oil but an aluminium and elsewhere as well. we are seeing some of that reflected in bond markets. oil,t the nymex crude because we are watching commodities, but also because we are live in jeddah for the opec meeting. matt? much there has been so talk about the flattening of the yield curve, and

and former chief spokesman matt miller who recently had a child in your family. congratulations on that. i haven't had a chance to great you. >> up next, another incredible day of news regarding at investigation into the president's lawyer, what we learned about michael cohen and trump's favorite cable news host ahead. ♪ with expedia, you can book a flight, hotel, car, and activity... ...all in one place. everything you need to go. expedia fthere's flonase sensimist.f up around pets. it relieves all your worst symptoms including nasal congestion, which most pills don't. and all from a gentle mist you can barely feel. flonase sensimist. >>> tonight, two of the closest allies to the president of the united states are caught in a tightening legal vice. michael cohen the president's personal attorney and fixer and sean hannity, informal adviser and on air water carrier whose show the president promoted as recently as last week. a day after being expoesds as cohen's mysterious client number three, hannity is blaming the controversy on the president's political foes. >

i am matt miller in berlin.ss the board for the equity markets, but big misses for a german data coming across. we had factory orders out earlier with a huge mess and drop in the previous reading. on germaning a mess services pmi as well at 54.2 -- sorry, 54.2. the reading was 53.9. misses for pmi. the question is how much is the economy slowing? company. is a tech the buildings numbers look much better than the market was anticipating. the stock had its biggest jump ever in its history this morning, currently trading up by 18.7% on huge volume, over 600% of the normal volume we see going through honest stocks, so seeing very big gains. up over 100% last year. interesting numbers to take away as well. so far this year, it has fallen sharply. iss morning, the stock rising into some very positive note on the stock as a result of that. stock of the hour, stay with bloomberg television. up next, it's surveillance. matt and i are off to bloomberg radio. this is bloomberg. ♪ ♪ >> talking to down trade tensions. this c

i'm guy johnson i'm of -- i'm of course alongside matt miller. castrate is less than 30 minutes away. a positive session for asia. several markets are closed today. watch out for the beginning of golden week. ♪ guy: a sprint finish. t-mobile finally agrees to acquire its rival indy -- in a 26 and a half billion dollar deal -- $26.5 billion deal. will washington allow this call to connect? regulators are trying to get a look at the transaction. it offers so much change in this sector. with a market be prepared to bet against the deal getting done? pound lower. secretaries resign -- reservation give traders a reason to sell sterling this week? we are looking at futures and indicate gains of the open, slight as they may be. green across the screen with the ftse futures gaining the most. the cap futures really unchanged here. take a look at treasuries. look at the yield. see how far we are from the 3% level. a three-day chart here. you can see we flatlined for a while because of golden week. it took a while for treasuries trading. we started back up

i'm guy johnson in our london headquarters alongside matt miller. why is he in frankfurt?e is watching deutsche bank for us. castrate is less than 30 minutes away. -- cash trade is less than 30 minutes away. ♪ bank, less deutsche than three years in the job, john cryan is replaced by this man, christian savings. he will lead the investment bank this morning. 5% higher. inspired by a mix of america, $8.7 billion. should investors be concerned about the premium? -- wins big in hungary. can it deliver a boost to popular and upload to brussels? matt? matt: as you said, castrate less than 30 minutes away. -- cash trade less than 30 minutes away. deutsche bank is expected to go up five or 6%. but all of the equity indexed contracts are trading up even after the bloody friday we saw in u.s. trading. we do see investors today selling off of bonds, pushing the yield up. 2.8%.ries 10 years up to that may be a sign today will be a more risk on environment in the market. sell your bonds, so you're safe haven trades and to into something more risky like surely deutsche bank has to be c

and matt miller, an nbc justice and security analyst is joining me here as well. pete, first to you. tell me about the van der zwaan -- the sentence and everything that went into this. >> reporter: well, this was a prosecution and a sentence largely meant to send a message that you shouldn't lie to the special counsel. that's really what this case was all about. this was not a prosecution to try to get his cooperation so that the government could learn more, the special counsel could learn more about potential russian meddling. and so the judge said that she had to sentence him based on what he did. she said he's a lawyer, he should have known better. he knew the importance of the special counsel's case. he knew how lawyers should conduct themselves but he still lied. she said this is not something that happened to him, in other words. he may have a great character. a lot of people spoke up for him in letters to the judge but she said finally she has to sentence him to send a message of general deterrence, also to show respect for the law and to reduce sentencing

and former chief spokesman matt miller who recently had a child in your family. congratulations on that. i haven't had a chance to great you. >> up next, another incredible day of news regarding at investigation into the president's lawyer, what we learned about michael cohen and trump's favorite cable news host ahead. >>> tonight, two of the closest allies to the president of the united states are caught in a tightening legal vice. michael cohen the president's personal attorney and fixer and sean hannity, informal adviser and on air water carrier whose show the president promoted as recently as last week. a day after being expoesds as cohen's mysterious client number three, hannity is blaming the controversy on the president's political foes. >> i did have attorney/client conversations mostly over real estate. you know, it just is so corrupt, it is such a double standard and it is so obnoxious on so many different levels but it's never going to go away because the mission when you really look at it is bannon has been to never get trump get elect and from the ge

i am matt miller in berlin alongside guy johnson in london.t to get out to seeing the poor -- singapore with juliette saly. juliette: rusal shares have surged in hong kong trade. meeting chinese companies and traders to discuss the possibility of buying alumina and selling aluminum. the company is looking for alternative sources of alumina, the raw material for aluminum. nestle's first-quarter growth got a boost as the u.s. return to expansion fueled by improvement in its pet care business. sales rose 2.8% on an organic aces facing analyst expectations. that comes as the seo revamped though world's largest food company around faster growing bands and -- brands and healthier foods and adding coffee businesses. procter & gamble is buying a consumer health business and a 3.4 billion euro deal, enabling png to expand their consumer health business by adding a fast-growing portfolio brand. they put the unit up for sale last year as it seeks to pump money into testing new drugs such as new medicines. that is your bloomberg business flash. guy: thank

matt miller bringing us everything we need to know about deutsche bank.nvestors look to china's president to calm a trade dispute between the world's two largest economies. we will be talking to gene frieda at pimco. this is bloomberg. ♪ ♪ mark: live from london, i am mark barton. vonnie: i am vonnie quinn new york. this is "bloomberg markets." people familiar with the traits that between the u.s. and beijing says beijing is looking at a gradual decrease in the juan. joining us now is gene frieda from pimco europe. he is joining us in new york today. is there any situation where china would need to devalue its yuan? how much larger would tariffs have to get for china to do that? gene: i look at all the possibilities as one package. the chinese are trying to keep this dispute as trade focus. their concern is that the u.s. is trying to bring in taiwan and other issues that are of strategic importance. it is natural for china to start putting other options on the table including the exchange rate. it matters how much we escalate up the scale in terms of broa

i'm guy johnson in london aside matt miller in berlin.astrate less than 30 minutes away. -- cash trade less than 30 minutes away. china goes shopping. retail sales keep the economy on track as the industrial sector in q1.- slows asian session mixed. most markets going nowhere. european stocks are pointing higher at this point. picture-perfect. netflix posted its strongest subscriber growth since ipo. are investors under pricing concerns? and how worried is berlin about a global trade war? picture-perfect. we have an exclusive interview we have an exclusive interview with the german economy minister. matt: we are less than half an hour from the european oh and. let's look at where futures are pointing for european stocks. let's look at where futures are pointing for european stocks. we have green arrows across the board, although you can see in london, they are not exactly a strong green arrow, but slight gains as far as futures are concerned. dax futures were up .5%, cap futures one third of 1%. afterries, flatline yields rose yesterday a

i guy johnson, matt miller is in berlin. gher as amazon, intel, and by do provide a earning boost to global equities. european futures are mixed. the cash trade is less than 30 minutes away. ♪ guy: kim jong-un becomes the first north korean leader to cross the border.

following developments from the white house, former chief spokesman from the justice department matt miller and joyce vance, former u.s. attorney. both matt and joyce msnbc analysts. tom, let's start with you and the dramatic twists and turns which i heard from two friends at fox news, shocked them there in their workplace. but sean hannity now playing a role in this cohen legal drama. >> so, nicole, this all came up because earlier today michael cohen in a legal filing through his attorneys said that he's represented two clients -- three clients, rather, in the past two years. president trump, of course, because that's his personal attorney. the second attorney would be elliott brodie and the third person who didn't want his name to be revealed. in court proceedings, judge essentially ordered cohen's attorneys to disclose the name after arguments from united states attorneys, after arguments for media lawyer arguing any name that should be mentioned in the court should come out publicly and that name is, as you have said, sean hannity, fox news host. so, basically what they're saying is th

>> i don't think matt miller's observation is about the quality of your reporting, but there are different ways things come out and i think -- >> oh, no, no. i'm being tongue in cheek. i enjoy matt immensely. >> i think what raises is, when you refer to your sourcing, obviously i don't mean the identification of your sourcing, i read this story as you're very confident in your sourcing that these meetings are taking place, they involve a presidential interview and rudy giuliani, according to your reporting, is reflecting a type of road where the client, the president, is still quote/unquote, resistant to the idea of this interview but it is back on the table. tell us about that. >> so, i think a couple things are going on. one, rudy is getting his sea legs in this case. he just arrived as of last week and so he wants to meet the person who's prosecuting/investigating this matter to size up a case and also size up the probe, like what is it exactly that mueller still needs and wants before he completes what we've described as a partial report on his findings about obstruction. the other thi

no, to matt miller who has a little cleaner conscience on these topics. as this memo came out yesterday, there was a pretty extraordinary -- >> we are at 6:07 and we are down the rabbit hole. >> last night, rachel maddow has james comey sitting in front of her as these memo comes out. she's in realtime reading them back to her. he's nodding along saying, yeah, i told you so. these are the things i testified about before congress and wrote about in my book. as you heard and you've looked at the contents of these, what sticks out as most significant? >> i think the most significant other than the donny deutsch portions of the memo you've already discussed is that it confirms jim comey's credibility. and that, i think, no one really would have questioned who was telling the truth, whether it was comey versus the president. when you look at both of their histories of kind of comments in the public record, anyone would think it was comey telling the truth. now we see these confirm that what he said in his senate intelligence committee testimony is what happene

jennifer rodgers of the united states attorneys office of the southern district of new york and matt miller. matt, starting with you, you just heard the congresswoman say she thought this was an effort at witness manipulation. what did you think? >> i think it's absolutely clear that's what the president is trying to do. he has been trying to tamper with witnesses in this case going back well into last year. he sometimes, kind of implicitly at one point in 2016 kind of threw an intermediary, sent a message to mike flynn that he should stay strong. when that wasn't enough, he had his attorney or at least john dowd reached out maybe on his own, but most likely at the president's direction and dangled a pardon in front of both mike flynn and paul manafort in the days before one of them was indicted and one of them plead guilty. so we know he had flirted with pardoning people involved in this case already. and i think if you look at all the evidence over the last two weeks, the scooter libby patterned, the strange out of nowhere jack johnson pardon float, and these kind of stay strong words aga

i am guy johnson at our london headquarters alongside matt miller. castrate open less than 30 minutes away. -- cash trade open, less than 30 minutes away. ♪ as the trade war clouds clear come equity pictures -- futures dip. attention turns to a western response to a chemical attack in syria. china's big bang. in his first appearance, pboc governor yi gang points to an acceleration in this country's financial sector. with global policy divergence, we are going to speak to imf managing director lagarde and the economy minister out of portugal. matt: that is what we are going to do today. where less than a half-hour from trade. we are opening the markets for you. the futures after the gains we saw yesterday, we were up 1% on the dax, 1% of the ftse. futures that point down equity indexes. we also saw some movement and german bund yields. moving up 58 basis points people we are back down. -- basis points. we are back down. we will see if -- we will see if it moves around today. treasuries have been stuck in this range, barely budging. 280 for 10-year yie

your joined by bloomberg's matt miller. , what is the reaction to this appointment. -- appointment? reporter: it is quite positive in the investment community. he has been very successful with codding costs with the brand. costs with the brand. investors hope you will be that successful running the whole company as well. the other big positive, as far as analysts and investors are concerned, is that it looks like the company is going to move ahead with the separation and bail the heavy machinery units. that is not closely related to the other 10 car brands that and runs. owns investors are keen to see that spun off and monetized. they had a problem trying this with ducati. they are hoping they can do it well with the truck unit. we just got some breaking lines. labor unions fully support the new ceo and overhaul plan. the unions are saying the decision on the truck ipo is still open. these are just headlines crossing now. matt, is there anything that is still concerning investors from here? there is -- there has to be -- lab

i am guy johnson alongside matt miller in berlin. matt: tech shares come under pressure.he cash trade is less than 30 minutes away. ♪ guy: carney hits, there may be a rate hike, it may not be a done deal. the pound fell sharply. after selling off sharply yesterday. signal a fines should be paid in terms of the whistleblower scandal. crude surges into a three-year high. the surplus almost gone. will oil ministers ease off on the cuts? we are a half-hour away from the european open. look at any indications on how the trade, the equity trade will work out today. we have ftse futures gaining substantially, but dax futures futures showing very little movement. we are seeing yields hovering at high levels. 10 year yield on treasuries is 2.9%. german bund's trading at almost 50 basis points. guy: you have seen some effects going into asia, we saw in bull markets. gilts had a very interesting session, it will be interesting to see how they trade today. the chinese markets are down pretty hard. yesterday we saw most global markets trading off. the s&p rallied into the close, but f

alongside matt miller in berlin.ash trade less than 30 minutes away. ♪ guy: trade escalation, china vows to fight to the end. president trump proposes an billion tariffs. u.s. and european equities drop on that news. .owell, not payrolls markets look forward to a speech by jay powell later today. will he point towards three or four hikes this year. the future of deutsche bank. recruiters are eyeing former j.p. morgan executive zames. will he be the man to fix germany's largest bank? we are less than a half hour away from the european open. look at what we have going on in equity index futures after the big gains we saw yesterday in the cash trade. massive, really. almost 3% up on the dax index. futures are pointing down, maybe not that much. even if you did not know donald trump had threatened $100 billion tariffs of imports from china. you might expect a little bit of a drop today after the massive rise we saw yesterday. take a look at treasuries. you did see the u.s. 10 year 2.8d will back up above percent in yeste

i guy johnson, matt miller is in berlin. tt: asian stocks are higher as amazon, intel, and by do provide a earning boost to global equities. european futures are mixed. the cash trade is less than 30 minutes away. ♪ guy: kim jong-un becomes the first north korean leader to cross the border. asian stocks trading higher. even china is beginning to rise into the close. it will close in half an hour. we will see what that looks like. massive beat in q1. posted high. after $16 billion of takeovers, thefi gives a bonus to buyback. the cfo gives us an interview in a moment. we are less than half an hour from the start of trading. european futures, which have been mixed, are now rising across the board. look at theif you percent missed price, we see u.s. futures across the board up -- up across the board, as well as it could be a risk on day. ftse futures, up over one third of a percent. half of as up percent. we see yields coming down. maybe investors are buying bonds, pushing the yield down below 3%, 2.9717. that gives you a rush -

you don't charge based on a he said/he said in terms of false statements. >> what we see here, matt miller, if you want to take a skeptical view, two key witnesses, comey and mccabe, against potentially donald trump in the obstruction matter, are now having a public feud with the looming threat of jail, which would be to donald trump's benefit. a lot of people underestimate him. seems like he's pretty good at getting this to look a certain way. we're not just about how it looks here. so let me read two legal points and get your response. number one, the standard for lack of candor definition, which is knowingly providing false information but doesn't necessarily require the intent to deceive. which is to say, it is a lower bar. then when you look at the actual false statements thing, which is the type of law you'd get if you were talking about charges, it's falsifying or concealing a material fact or materially false statement, which as you know is much higher. your analysis? >> look, every year the fbi puts out a disciplinary report of agents, not by name, but they'll list cases where the

. >> jill wine-banks, former watergate prosecutor, matt miller chief spokesperson at the justice department kund president obama. matt, i'll start with you. i want to zoom out for a second and just note or ask you how you feel about a news cycle that's driven about will the president act to interfere in the investigation into himself and into his allies. >> yeah, it's odd because in a way it gets framed as if there's some legitimate choice the president is facing as opposed to there being one acceptable choice which is allow the investigation to proceed to allow the rule of law to stand. and one which is to try to commit a crime and obstruct the investigation which is what he's trying to do. for people at the department of justice looking at this, you know, none of them are stupid. they see what the president is trying to do. if he fires the rosenstein they know exactly what he's trying to do. for him to try to you fire mueller, he may be able to do it but he will have to burn that building to the ground before he finds someone willing to carry out that kind of order. >> jill, do you agree

and joining me, matt miller. and tim o'brien still in the house. roberto, what have you learned about this meeting between giuliani and mueller? >> talks between mueller and the trump legal team had stalled back in may. but now giuliani on the scene. he's functioning in essence as the new lead negotiator for the president's personal legal team. met with mueller on tuesday. they're trying to figure out can the president actually sit down and do an interview? that's a decision the president and his lawyers have to make. they're showing resistance behind the scenes in this huddle with mueller. mueller continues to reiterate with giuliani and others he needs to talk to the president to figure out his intent on key decisions. >> okay, giuliani and mueller, given their history, these guys have known one another for decades. is president trump -- does rudy giuliani realize the position he'd be putting the president in if the president sat down with mueller? mueller is a smart, smart guy. >> he certainly recognizes that. people familiar with the conversati

matt miller joins us now from berlin. us up for next week by telling us what we will be hearing more about this week. international are u.s. relations part of this will definitely be interesting. macron has got a step up on merkel. he was very merkel to talk about military solutions or retaliation with syria for chemical weapons. from the get go, he has gotten donald trump's attention. remember that handshake where he didn't let go? he is also an outsider like donald trump u.s. very little concern for the normal kind of diplomatic practices that world leaders are expected to follow. work muchdonald trump better together than angela merkel and donald trump. refused to famously shake her hand. to be fair, he said he didn't hair -- he didn't here, which i guess is believable. he has a couple of days with donald trump. merkel comes after gucci has already been reprimanded by the ambassador to germany for her failure to take part in that military strike against syria. macron definitely has his foot in the door with donald trum

and you know, matt miller who is on with us has been really critical of him for a lot of things. one thing he isn't is a liar. you know, and so i think it's a really interesting question whether a campaign of defamation organized by the president of the united states and his political party apparatus can work whether he it is completely divorced from anything like the truth. >> david, you're a former republican member of congress. ben mentions the fact that the gop has a lying comey site. that is being pushed out on the aim day that the one deputy international finance chair stands accused of using his ability, michael cohen, to pay off hush money for the other deputy national finance chair, $1.6 million for an affair he had that rutted in a child. what is going on? >> these are disgusting actions by leaders of a party that frankly today i don't believe deserve to lead either politically or through public office. it is a fallure of leadership in donald trump's party. he rebranded this party and made it okay we now accept actions like this. it's wrong. it's disgusting for republic

joining me now, julia ainslie, and matt miller. julia, that wasn't exactly a no. >> that really wasn't, katy. it was sort of like, see, there it is. stating the obvious. they are still there. he doesn't want to go any further. if anything, i think that the president wants to continue to have leverage over these people as he sees this investigation ratcheting up against him, especially as it is now involving his personal lawyer of a long time, over a decade, michael cohen. so at this point we know that the tensions that were pushing to get rosenstein fired as of last week have cooled a bit. some of our white house colleagues have been reporting that. but it seems that the pressure on rosenstein could be coming from another place now, and that's capitol hill as republicans in the house have been pushing for these memos and they may use this as another way to try to get rid of rod rosenstein. i spoke to someone today who said this is is exactly why the president is narrowing in on rod rosenstein now rather than robert mueller. he sees

thank you, matt miller, anchor of the european open.ll to come on bloomberg surveillance, a big day for the banks. jpmorgan, citigroup and wells fargo all release first-quarter earnings today. and then we try to figure out what volatility means for equities and currencies. this is what i'm looking at. u.s. futures pointing to a higher open, but we are looking at a subdued market this morning. this is bloomberg. ♪ francine: economics, finance and politics. this is "bloomberg surveillance." let's get straight to the bloomberg first word news. mrs. k.d. lang. >> donald trump met with his national security team to discuss the american response to a chemical attack in syria. that came as theresa may's cabinet said it is vital to respond to the incident suggests that written is prepared to join trump and emmanuel macron. donald trump has directed officials to explore rejoining asia-pacific trade pact team. the move comes a week after the president escalated tensions with a threat to impose threats -- with a threat to impose tariffs on chinese

i'm guy johnson in london and matt miller is in berlin.ash trade is less than 30 minutes away. ♪ guy: the chinese leader's conciliatory speech drives global stocks higher. willie effect be short-lived? russian markets open in less than 30 minutes after yesterday's big selloff. can i get worse? and mark zuckerberg heads to the hill to answer congresses questions. will his answers determine how much of a regulatory headwind the tech are now faces? -- sector now faces? matt: with 30 minutes till he open, we have some big headlines flashing across the screen. first off, the big one is that glencore is canceling the rusal share swap. we have seen problems for rusal in the aluminum market, for the russian market, for russian billionaires. glencore is canceling its rusal share swap. and the director has resigned his position from rusal and the chairman of bloomberg lp is a anior -- or has been independent nonexecutive director at glencore. keep your eye on rusal and russian markets. look at futures in europe. european equity index futures. we had

. >> matt miller, we know the interview is on the president's mind.sad the department of justice, in quotes, for reasons i can't pretend to guess, and the fbi are slow walking or not even giving the unredacted documents requested by congress, an embarrassment to our country. what is this about? >> you know, he has a very warped view of justice. i think the reason it's in quotes is because he thinks the department of justice kind of ought to be as he once said, he wanted his attorney general to be his protector, to be his roy cohn. he thinks the department of justice ought to exist to protect him from prosecution and to go after his enemies. and this request about releasing documents has everything to do with going after his enemies. there are these two committees on congress that are still examining the hillary clinton e-mail situation and whether the fbi and the justice department were correct not to prosecute her are turning over documents, but holding some back because the department holds back, for example, grand jury information, information that

francine: the person interviewing him is matt miller. a great interview.ts. , which is wealth management. what can the company due to accelerate gains and wealth management? management, the profit before taxes missed the expectation, as did asset management. .hey had positive inflows they did not hit the profit targets analysts had been looking for. the reason is likely cost. have been going higher. they need to do what they can to keep those in check. forbank has higher costs .egulations, legal fees they have a case in france and endu.k. they cannot see the of right now. higher, trending at about $1.2 billion annually. they need to get that down. they do not see that happen meeting -- that happening until maybe 2019. you have to keep in mind, they have the cost issue and they missed the results. the outlook they gave was also down beat. they are worried volatility is going to be muted going forward. that helped them in trading. client trading activity could be dampened by geopolitical concerns and trade concerns. rosy astlook is not as the investment bank

thank you, matt miller. joining us is keith lerner from suntrust.bank underperforming all european peers as they underperform u.s. banks. what is the explanation? keith: the reason for the big underperformance is u.s. banks led into the recession and out of the recession. we are still riding on a lot of debt in european banks. while u.s. banks are at cycle highs, european banks are only back to where they were in 2015. since the bull market started, u.s. banks were up 500%. european banks up less than 100%. david: you are a chief market strategist. does that mean there is upside overall in europe? banking is very important to overall growth, particularly in europe, given the role of banks. in europe, financials are around 20% of indices. in the u.s., there -- the ban in the u.s. there is less technology in europe. we are more bullish, because we think rates will move higher. from our perspective, it provides opportunity. alix: that brings us to earnings season. jpmorgan reporting friday. keith: what is unusual about this earnings period is during th