live from berlin, i'm matt miller, with vonnie quinn in new york. ♪ matt: good morning to you in newk. i'm matt miller in berlin. vonnie quinn is in the city. this is what i think of is what i think of as the real city. you probably think i mean london. vonnie: no, i think new york. [laughter] matt: let's check in on the bloomberg first word news with ritika gupta. ritika: it is a sign that people are starting to return to work in the u.s. state unemployment rolls trying for the first time during the rollsvirus pandemic -- shrank for the first time during the coronavirus penned him at the european union has a growing list of grievances with china. still, chancellor angela merkel says the block needs to consider the big picture. >> the european union has a great strategic interest to improve the cooperation with china, which is one of the major actors in the century. to master our relations, it will also depend not only on the improvement of diplomacy and trade relations, but also on the fact that we europeans have to china in the result of the architecture. ritika: angela merkel says

we've heard more about that from matt miller. we have right now a fiscal talking about 750 billion euros of grants that might help the peripheral countries. matt: bailouts is really the big story here, aside from the chinese story you point out. it is fascinating to see the you yuan we can buy that much. europe is in focus in not only because of the bailout proposal, but macron's 8 billion euro bailout of the auto .ndustry daimler shares are rising 9%. renault shares are up about 16%, 17%. the reason the french bailout matters for german carmaker daimler, of course, france isn't getting any money directly to german automakers. are offering a cash for clunkers program, as well as 7000 euros for the purchase of any electric vehicle. so french consumers are likely to pick up a german car with some of that money. not bad for sales. the other big story here has been the ecb. we watched christine lagarde q&a withing and that european use on facebook. in any case, she said she sees is sort of now in-line with their medium, their .ase ca

withonnie quinn, along matt miller. off: it's great to kick your trading week on a positive note, right after yesterday was closed for memorial day. today you will probably see some real catch up being played. and i have some fresh economic data as well. up 0.6%, anes encouraging sign, having been down 15.4% the previous month. we are talking about april data. economists were looking for home sales to be down 23.4% month over month. that makes me think there is something a little askew with the data. consumer confidence coming in a little shy of expectations at 86.6, down from 86.9 in april, and a little lower than economists were looking for at 87. we will get to that data and what it all means for the economy. this is all still coronavirus data, and how much you can read into it is still in question. the first trading day in the united states, the s&p up 1.8%. doing and leisure stocks well. the dollar index just a little like today -- a little light today. crudee strong dollar, and oil is up 3%. matt: i almost want to

i would like to say thank you to matt miller for joining me from berlin. ack with me tomorrow. thanks, matt. this is bloomberg. matt: it has been a pleasure. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with pe

me,ie quinn in new york, matt miller in berlin.top governance body has pushed for a strategic review of the bank's business is after it sustained heavy losses in its once vaunted equities trading unit. the move reflects the board's dissatisfaction with recent troubles in the equity division. no one likes to lose money, or at least not make as much as anybody else. that is at the heart of the bank's surprise first quarter loss. ,hose equity trading losses according to those familiar. that is why stockton is starting a strategy review, and you know what that means. there could be sales or reductions. it may cuts back -- it may cut back complex equity reductions. there is some news we will continue to follow for you out of the french banking industry. in the car making industry, renault is cutting 14,600 jobs worldwide, about 8% of its workforce. capacity in aower overturn the losses that have rocked the industry. i spoke to the ceo ever know. -- the ceo of renault. >> i think it could have taken a little earlier, but i think we took

joining us is matt miller and mike steele. michael, give us some facts.e involved in this effort. >> real quick, the president himself received his sta stay-at-home vote by mail ballot about a month ago from the state of florida, all of that criminality and corruption clearly was not enough to stop him from doing that. that's fact number one. number two, look, this process right now takes into account a truth -- and that's not everyone even with a lessening of coronavirus, in the fall, is going to be in a position to engage in voting just on their own. i mean, there's still going to be a lot of stay-at-home -- not stay at home, social distancing measures will be in place, so there are a lot of variables what we're asking the congress to do, please take these into account now, understanding where we are now with voting now, give americans access to the ballot box they need. $400 million appropriated in the stimulus 3 package was a good start. projected number is closer to $4 billion for all 50 states and territories to provide an appropriate, adequate acce

german gdp and matt miller is in berlin. great to have you with us.ld we be focused on beyond that headline? >> think we should be focusing on where the drops are coming from. a substantialad shortfall in tax revenue in the first quarter according to finance minister olaf schulz yesterday. the government expects a drop of about 100 billion euros in tax revenue for the full year. a little less than 100 billion euros come a little more than $100 billion but the bottom line is germany will have to start are weighing a lot more than it may feel comfortable with. bloomberg intelligence things that will be possible and no problem. germany will have to borrow about 250 billion euros this year but overall come it is mobilizing with loan guarantees. 1.2 trillion to get through the crisis. bloomberg intelligence thanks that will work just fine. drope looking for a job -- in gdp of 2.9% for the first order but then a rebound that should help germany get its debt to gdp ratio from 60% up to 70% and back down to 60% in the next couple of years. matt miller from be

i'm vonnie quinn, with matt miller in berlin. we are counting down to the european close on "bloomberg markets." we got some mixed economic data a little earlier, better than forecast housing data, partially because of the regions. the northeast still very weak, but elsewhere in the united states, housing did hold up. signs of stability in places like the northwest and the southwest. we have a bounce today. 2.6%. 2%, the dow up the dollar index below 99 now, a strong section of oil currencies. that is because crude oil is bouncing as well. wti up 2.2%, affecting the likes of the canadian dollar. matt: we are seeing gains in europe as well. all of then across continent, really. only the u.k. was closed for their bank holiday. we had a massive rally yesterday, so the dax was up 300 17 points yesterday, up another 143 points today. stocks overr german the past couple of trading sessions. the cable rate also shooting higher. pound-dollar right now at $1.2358. even with those gains in the currency, i will just tell you you still see t

vonnie quinn, along with matt miller in berlin. we are counting you down to the european close on "bloomberg markets." just over 30 minutes to go. let's have a look at u.s. markets. where are also awaiting oil inventories. let's look at the s&p 500. even after that raft of economic data, the s&p up 0.5%. oil inventories showing a huge build, almost 8 million barrels. barrels, when the market was looking for a drawdown. your chart, but we are seeing a drop in crude 0.7% and counting, trading now at $32.56. once again, a massive build in crude oil inventories. that has affected the refined lee utilization data as well. -- the refinery utilization data as well. production ist ramping up, and indeed, it is very obvious in the figures. also very obvious and the prices that people are going to pay for a barrel of crude. it will be interesting to see if demand does pick up. i know you just had memorial day weekend, and i guess some people thought a surprisingly high amount of passengers on flights. i'm not sure about the driving data in t

she's an msnbc legal contributor and matt miller is the former spokesman for attorney general eric holdersnbc contributor and matt, let me start with you since you worked in that office. i could not be more stunned. i'm just about speechless, which is perfect because you're both here to speak for us. >> i think i would describe myself equally stunned but not surprised. it's consistent with the way barr has been acting for months now. it was really just such a disjustice for them to do this today. it's obvious if you read the filing bill barr had an outcome they wanted. they wanted to see the charges against mike flynn dismissed and drew up a legal filing that's dishonest on it face to support the conclusion. the argument they make is essentially if you go in -- to go in -- if you lie to the fbi about something that's not material, it not a crime. if you lie about what you had for breakfast that's not material. you're charged with a crime if the lie you make is material to the thing the fbi is investigating and the argument doj is making in the filing that barr made in the interview is tha

i'm an edwards alongside matt miller in berlin -- anna edwards alongside matt miller in berlin.ning. we are looking at features that are heading down this morning, drops of 1% on some equity indexes. so, it looks like we could have a risk on friday after an incredible rally oblique.

francine: that was the austrian chancellor, sebastian course, speaking with matt miller.e nuncio's vamp acute us. this riff that seems to not be able to heal in europe. is this one of the most crucial moments for the euro? >> it is absolutely a very important problem. many countries, particularly italy, assumes the problem even before the crisis. but now it will become much worse because of the session, negative impact on the fiscal balances from this crisis. , andse of the bailout because of what is likely to be a very weak recovery. therefore, we are in a situation in which a number of countries we have seen from the europeans does not address the problem. you addressw would the problem? and if we don't address the problem head-on, with that mutualization or some signed of that some sort of corona bonds, or something else, what does that do to europe? after the crisis, the europeans managed to muddle through down the road, i think this is possible because we are talking about debt levels. italy is going to be at 160% of gdp. greece, more than 200% of gdp. when we look a

i'm matt miller. ."resident at arlington cemetery, where he will be laying a race for memorial day -- a wreath for memorial day. let's check in with those countries where trading is on. for example, here in germany and over in france, we have a full trading day. the dax benchmark index in frankfurt is up 2.5% right now. 1.7%.c 40 is up at the bottom of your screen, you can see s&p futures. u.s. futures also trading higher right now, and the red arrow is on gold. a lot of safe haven assets this morning are not getting a bid. that is because this risk on mood is sweeping around the monday to kick off the week. -china relationship is worsening dramatically in the past few days and months, with chinese foreign minister warning that some in america are pushing relations to a new cold war. for market reaction, let's turn custer.s thanks so much for joining us. how important is this? the coronavirus has occupied all of our time for the last two months, and all of a sudden, this twist with some in the u.s. blami

matt miller and anna edwards. buckle up.ng to be a bumpy 30 minutes. ♪ ♪ nejra: good morning and welcome to bloomberg --anna: good morning and welcome to bloomberg markets. i'm anna edwards. matt miller in berlin. matt: good morning. foldout hope for the recovery. risk assets gain -- hold out hope for the recovery. risk assets gain after finishing last week in the red. the cash trade is just an hour away. let's get your top headlines of the bloomberg terminal.

that was the austrian chancellor speaking exclusively to matt miller.hina's core inflation readings add to the case the pboc may have to add to a stimulus package. we will discuss next. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." maurice, let's talk about china and emerging markets. factory deflation deepening in april. i know you are overweight emerging markets. is that a bet on china? a lot of people have expressed concern broadly in em that if you get qe funding deficits, you are going to cause outflows basically and capital flight and inflation is going to spike. maurice: that is such a broad question. up,strial production being which makes a huge difference. growth isarkets, the as big as ever in terms of asset valuations. we have a huge valuation. there is an opportunity. quantitative easing to your question, of course the question currently is not the cost of doing quantitative easing but that you have no choice. what they are doing and emerging markets is that a much smaller size than what is in and the west and we don't th

matt miller here. great to talk to you.hatalk to you i'm hearing is, renters from new york city are flooding out to the suburbs of new york in order to get away from the density-pack, urban centers. and they are putting in big bids on mass for the wanted to million -- $1 million to two men dollar region in terms of those risky suburbs. is that going to be a trend we will see across the nation? do people want to get out of the density-pack urban centers? robert: that is an interesting question. sometimes i think this is a repeat of a different kind of narrative. tested, the soviet union an atomic bomb, and they also had missiles that they were developing. and this led to a mass exodus to the suburbs. so there could be something like that. not only because you are afraid of the next virus being very damaging in the center cities, but a lot of the charm of the central cities, that draws people in our going to be lessened, like eating out and nice, different restaurants, and going to museums and shows. so i think there could be

we have not heard that at this point but we're looking forward to that. >> matt miller, i've heard fromree former fbi officials. one of them writes, the key weasel move today is to say the fbi predicated flynn's interview on the calls of kislyak. no, it was about the lies to the vice president about the calls with kislyak that made us want to interview him. at the end of the day this was about lies told to an american official, the second most powerful person in the executive branch, the vice president of the united states, about contacts with russia. we still don't have the answer as to who told mike flynn to lie to mike pence. >> no, we still don't know that and that is exactly the right point, the point that the former fbi official is making. there are two, i think, serious problems with the action the department of justice took today. one is a miscarriage of justice. mike flynn absolutely lied to the fbi if you look at the facts of the case and he's admitted to it twice, once in open court. and two, mike flynn is getting treatment that wouldn't be available to any other person in th

i'm an edwards alongside matt miller in berlin -- anna edwards alongside matt miller in berlin.att: good morning. we are looking at features that are heading down this morning, drops of 1% on some equity indexes. so, it looks like we could have a risk on friday after an incredible rally oblique. -- all week. but we have gained a lot, maybe more than we could lose. we are up 600, 700 points right now on the dax weeks to date. friction. president trump will unveil new policies targeted at china today after beijing passed a controversial hong kong security law. we'll be watching that closely. u.k. says it will open the path to citizenship for hong kong residences. europe plans its own response. stock looks to end with a whimper. plus, the race to cut costs. says itet -- renault will flash 15,000 jobs worldwide and world capacity by 1/5. we'll watch that closely. we were getting a big boost from automakers this week after the french bailout package. we'll see if those gains hold or are taken away today. just under an hour away from the start of cash trading in europe. let's take a l

i'm live in london alongside matt miller in berlin. matt: good morning.ay lift the lockdown. europe and u.s. futures rise. a number of economies move toward easing restrictions. let's get your top headlines for you off the bloomberg terminal. europe's new normal.

welcome to "bloomberg markets: european open," i'm anna edwards alongside matt miller in berlin. ing. keep an eye on the pmi. european futures point lower. the cap trade is just an hour -- cash trade is just an hour away in most markets. here in germany, it is the ascension day holiday. let's get the top headlines off

i'm anna edwards alongside matt miller in berlin. ts say that ain't no v, baby. hsbc's david bloom lends his voice to the people cautioning a quick recovery. futures pointing down. the cac trade is an hour

welcome to "bloomberg markets: european co-i'm anna edwards in .ondon alongside matt miller matt: theust an hour away. here are your top headlines. dial m for merger. liberty and

i'm live in london, alongside matt miller in berlin. matt: play nice.or their biggest slide in a month, dragging down european futures as hong kong tension threatens to resurface. here are your top headlines from the bloomberg terminal.

i am anna edwards alongside matt miller in berlin. matt: good morning.y watch out for extreme behavior. signs grow that markets are unsettled but surging volumes and options markets and volatility elsewhere. european futures trading lower on the cash trade starts in and our.

francine: that was the austrian chancellor speaking exclusively to matt miller.the markets are saying. european stocks edging higher than where they were when they opened. inestors weighing an uptick coronavirus infections in several countries with fresh trade tensions. oil is rising. the trump administration moved to block investments into chinese equities by a government retirement fund that is said to put shivers through asia. tom: some things going on in the background, not front and center and maybe not arkin driving. -- market driving. the federal reserve will be buying exchange traded funds, a little bit of mystery, but maybe we will see that historic moment where they take on at least bond etf's today, some of that giving buoyancy to the market. we will drive forward this conversation, many things to talk about, including the important testimony of dr. fauci at the 10:00 hour in new york. we speak on the linkage of the equity markets to beleaguered economies with michael shaoul. stay with us. this is bloomberg. good morning. ♪ save hundreds on your wirele

i'm matt miller live in berlin. the cac trade. the headlines off the bloomberg terminal.nomy. beijing looks to reassure honk tchoong the judiciary will emain independent. -- hong kong the judiciary

in berlin on this labor day -- i am matt miller in berlin on this labor day.ur away from cash trading where markets are open. that may get you your top headlines. tech troubles, global stocks get dragged by big tech. a possible loss in the second quarter, and apple tipping its forecast out right.

. ♪ anna: i am anna edwards alongside matt miller in berlin. say, is thereets more room to run?analyst who called butslump said there is, cold water on bond markets.

i'm anna edwards, live from london, alongside matt miller. recovery is all that matters. higher as reopening economies in europe bumper stingless control proposals. the narrative. the cash trade is less than an hour away. the u.s. says hong kong has lost its autonomy from beijing.

i am matt miller live from berlin. the cash trade is just an hour away.treets of hong kong. tensions with beijing flare -- flarer the planned up again over the planet security law. the u.s. considering sanctions on firms and officials in china, as well as

he is speaking exclusively with bloomberg's matt miller and anna edwards. >> you may have seen earlyed 55%,nues net profits by plus 75%. so clearly, q1 benefited from significant volumes and volatility, but i should growth nothat 50% of for volumes, but for the contributions of acquisitions made in the previous year, and clearly the diversification of a results,ds impact on then the contribution of volumes and volatility. so that is for q1. as i indicated earlier, the month of april has been a bit slower clearly then march. but significantly higher than in april. does that mean you expect growth to level off? if half of that came from acquisitions, does growth then level off through the end of the year, or do you continue to make acquisitions to keep that kind of growth up? >> no, actually, we have recently made an acquisition in that market, which is the central depository of denmark. this should close in july. we signed this deal in the middle of the pandemic, and we continue to hunt for acquisitions, and acquisitions will continue to be a fundamental part of the growth of the comp

understand -- [indiscernible] remissefano, i would be if i didn't ask, and my colleague matt miller would be very upset with me, are we going to see a plug-in hybrid this year? or do you think what is going on around the world is going to prevent either of those things happening? not this year, but for sure, that is in the future. because we are in a great moment of our brand, very successful last year. now we need to start the journey from that moment and go back to the promise we are going to have , for sure. stefano, thanks very much for your time. stefano domenicali, ceo of lamborghini, joining us from northern italy. coming up, we are going to turn our attention to what is happening in france and the energy sector. engie cfo judith hartmann is going to be joining us. it is one is the -- it is one of the key stocks acting as a drag on the cac 40 today. this is bloomberg. ♪ guy: from london, i'm guy johnson, with vonnie quinn in new york. this is the count down the european close on "bloomberg markets." let's get an update on what you need to know. here with the first word news, mark c

bloombergs matt miller and anna edwards spoke to her earlier on today.wethe crisis see some airlines were in a sinking financial situation. others had a more robust balance sheets and they may require different kinds of support. there is an european response. all of the large carriers are not one nationality, they are european carriers. that is why we are saying we would provide a level playing field and different support. it provides a similar level of funding and credibility and strength so we do not create problems. areuropean countries different in terms of fiscal responsibility. havecountries like germany been historically better at dealing with finances then countries like italy and spain. b, countries like germany do not have the kind of social safety net. there it is closer to 80% of your salary. shown at money that germany is lending to spain and italy be attached with some conditions? as far as that is concerned, i'm afraid germany has a much stronger stake than we do. every year we get accommodations from the european institutions saying we sh

matt miller spoke earlier to the ceo, michael o'leary. >> it is the lufthansa, air france, klm's thatwe are the largest airline in italy but now we have to compete with error tell you, but they have the might of the italian state behind it. we will have a distorted market was next couple of years. that means we have to have fewer cabin crews. the remaining crew will be paid less. we are reviewing where we will be closing basis, certainly in some of the tourist economies like spain, italy, and elsewhere, where it could take a year or two years for that traffic to return. we are also looking at our orders, in discussion with the airbus orders, in discussion with boeing. we need to right size the company for what will be three to five years of very grim trading here at reiner. , employees will you have left, and what do you do if flying comes back after this crisis? >> we currently employ about 80,000 people. we are announcing cuts of about 15%. regrettably, we will be losing about 3000 pilots and cabin crew. this year, we are carrying less .han 100 million passengers we are down about a

oecd chief economist spoke about the recovery after the pandemic with bloomberg's anna edwards and matt miller it is clear we are entering two ofme sort of phase this economic episode, so there were confinements, and now we are seeing many countries thatning, but i would warn this is going to be a very process with more activities that will not reopen for a long time. you may think about restaurant accommodations, airlines. it is going to be very slow and not the bounce back to where we were before. >> what do you think about the stimulus measures we have seen thus far? could they have been better? >> it has been a very impressive response from governments, as you highlight. they fired in all phases. they supported people's income. they supported business liquidity needs. they have done the maximum i think that they could do in this phase one of the pandemic and the economic shock that goes with it. enter a moreing to difficult phase, where the support will have to become more -- thed so that they can allocation of sectors and capital. perhaps we are going to see some firms that have difficult

>> matt miller, i want to ask you about the flynn trial. not over yet, despite the fact the justice department wants to withdraw its case against general flynn. despite the fact he pleaded guilty twice to lying to the fbi. the judge in the case has now appointed a former federal judg the point of view that says, wit wait a minute, maybe this shouldn't be withdrawn by the justice department. how common is it to appoint a former federal judge like that, and what does it tell you about this case? >> it is very unusual. this is, of course, a very unusual case. i think there are two questions for the judge going forward. one is what he does with michael flynn. two is what he does with the justice department. with respect to flynn, i think at the end of this process, the charges are almost certainly going to be dismissed against him. it is difficult to see the judge, you know, continuing to insist that flynn be sentenced and be forced to plead guilty after the prosecutors in the case said they don't want to bring charges. he's raised the idea tha

welcome to "bloomberg markets: european co-i'm anna edwards in .ondon alongside matt miller matt: theash trade is just an hour away. here are your top headlines. dial m for merger. liberty and telefonica agree to combine creating the u.k.'s biggest internet and phone operator. and decision at don. the bank of england makes a rare early-morning rate announcement imminently. we will speak to governor bailey leader on today about that decision, but a mission to china. the who considers investigating the source of the coronavirus as britain prepares to ease parts of its nationwide lockdown. just under an hour away from the start of cash equity trading across europe. let's take a look at where futures are trading. actually, are we getting bank of england headlines now? are. yes, we bank of england votes unanimously to maintain its benchmark interest rate, to keep it unchanged at 0.1%. no change in the kiwi program and no change in the interest rate. the pound is holding steady against the u.s. dollar as a way there had been increased volatility in the pound heading into the decision. we ar

matt miller in berlin. matt: good morning. foldout hope for the recovery.isk assets gain -- hold out hope for the recovery. risk assets gain after finishing last week in the red. the cash trade is just an hour away. let's get your top headlines of the bloomberg terminal. jerome powell says the u.s. recovery could drag on through 2021 as long as there's no second outbreak. there might take a vaccine for people to regain confidence. speaking of that, as present a aims to get 3 million vaccine doses ready for the u.k. by september. but boris johnson warns that u.k. may not be free of the virus for some time to come. and the trump administration steps up its campaign to blame china for the coronavirus, with an aide suggesting beijing sent airline passengers around the world to spread the infection. we're just under an hour away from the start of cash equity trading in europe. let's take a look at futures this morning. we had a bit of a mixed picture. and now you see big, strong gains in european futures, 1.5% on dax futures, 1.33% on ftse futures. if you look a

vonnie quinn, along with matt miller in berlin. we are counting you down to the european close on "bloomberg markets." in the u.s., we had seen stocks lower. the s&p 500 dragged down by some retailers, some energy companies. down 0.6% now. the nasdaq is the best performer of the day, but it is still down just more than 0.1%. as you can see, no respite for the offshore yuan. it did strengthen just a little but having gone above 7.19, we are at 7.1640. the dollar index at 96.20. gold futures are actually picking up steam today. i guess it is a friday as well, and we are heading into what should be a normal time -- what should be in normal times the summer. we are pretty much done with may at this point. in terms of what we are watching here, losses to end the week, stoxx 600 down 1.25%. of the major european indexes, the ftse is the biggest loser right now, down 2%. that's because some of the heaviest stocks affected are british trading in london. hsbc, london shares of royal dutch shell, british american tobacco, bp, all big losers,

i'm live in london alongside matt miller in berlin. matt: good morning.he markets say lift the lockdown. europe and u.s. futures rise. a number of economies move toward easing restrictions. let's get your top headlines for you off the bloomberg terminal. europe's new normal. the region begins its slow return to public life, as global past 251,000. in hong kong, they say they will relax restrictions soon. bnp paribas is full-year earnings take a pounding from the coronavirus pandemic. we will bring you our interview with the bank's chief financial officer. recovery mode. goldman sachs and morgan stanley see signs of the world economy is bottoming out. could growth bounceback in the second half of the? we are just not -- half of the year? where just under an hour away from cash trading in europe and the u.k.. let's take a look at where futures are after the pounding we took yesterday. than 4%fell more yesterday before u.s. stocks rose. we have european futures falling, asian stocks higher. ftse futures up 1.3% and dax futures up a little bit more than that.

i am anna edwards alongside matt miller in berlin. matt: good morning. today, the markets say watch out for extreme behavior. signs grow that markets are unsettled but surging volumes and options markets and volatility elsewhere. european futures trading lower on the cash trade starts in and our. ready and waiting. jerome powell says the fed is willing to use all weapons to combat the coronavirus downturn. philip lane says the ecb is prepared to boost bond buying. andrew bailey testifies in front of lawmakers today. a lot of central-bank action. global coronavirus cases near 5 million, as one report throws cold water on moderna's vaccine testing. that is what drove stocks lower yesterday and now we see futures down here, up in the u.s. and asia, say mixed picture. j.p. morgan joins a goldman sachs in saying that further quantitative easing is needed to cap bond yields. the u.s. is so strong a billion dollars of 20 year treasuries today and it looks like a lot more supply is getting mopped up by the central bank. an hour away from the start of cash equity

i'm anna edwards alongside matt miller in berlin. matt: today the markets say that ain't no v, baby. hsbc's david bloom lends his voice to the people cautioning a quick recovery. futures pointing down. the cac trade is an hour away. these are your top headlines from the bloomberg terminal. most improved player. president trump softens his criticism of jerome powell but the two disagree when it comes to negative rates. traders price the fed going subzero early next yeek. italy doubles down the government passes a much delayed 55 billion euro stem luis package but is it enough? watch the b.p. trade today. and america first. or is it americans first? sanofi says the u.s. will be first to get its coronavirus vaccine. it took the most risks in terms of investments. we'll speak with germany's merck at 8:30 u.k. too many. we're just an hour away from the start of cash trading in europe. futures are pointing lower. 1% drops on the major equity indexes. here you can see ftse futures a little bit worse than the continental indexes. take a look

welcome to "bloomberg markets: european open," i'm anna edwards alongside matt miller in berlin. matt: good morning. keep an eye on the pmi. european futures point lower. the cap trade is just an hour -- cash trade is just an hour away in most markets. here in germany, it is the ascension day holiday. let's get the top headlines off the terminal. disinformation and propaganda, president trump's rhetorical assault on beijing steps up a gear. the u.s. senate passes a bill to the last chinese companies on european and -- de-list chinese companies on european indexes. the bank of england president said get of rates are not being ruled out. plus, cut to junk. angela merkel says a decision on the lufthansa bailout should be expected shortly after the german airline becomes the latest to lose its investment grade status on the s&p. take a look at futures this morning. we do see losses in futures. euro stoxx 50 futures down a little bit more than 1%. 0.6 6%.ures falling we see drops on u.s. futures, as well. s&p, and nasdaq futures all down by more than 0.5%. anna, the gmm? anna: let's ha

i'm live in london, alongside matt miller in berlin. matt: play nice. asian stocks head for their biggest slide in a month, dragging down european futures as hong kong tension threatens to resurface. here are your top headlines from the bloomberg terminal. impose a newto security law over hong kong sparks outrage from the opposition. we will be live in beijing at the national people's conference with the latest. president trump, a pledge of retaliation. the hang seng leaves asian stocks lower as u.s. senator's lower rates. and the fed could hold further guidance until the fall. bets on a boe journey toward up support for small business. we are just under an hour away from the start of cash equity trading in europe. we will take a look first at futures after the hang seng fell 5%. you're a stocks, ftse, and dax futures all down one -- euro stoxx, ftse, and dax futures all down 1% or more. on the majorps european equity indexes. in terms of u.s. futures, half-percent drops, basically, across the dow jones, s&p, and nasdaq futures contracts. it looks like

i'm matt miller live in berlin. the cac trade. the headlines off the bloomberg terminal. assuring autonomy. beijing looks to reassure honk tchoong the judiciary will emain independent. -- hong kong the judiciary will remain independent. economy ts, the global takes precedence over the geopolitical tensions between the u.s. and china. the price of the bailout. brussels set its criteria for backing the state aid pac package from berlin. we are just under an hour away from the start of cac equity trading in europe. et's take a look at where -- the u.k. markets were closed yesterday. they didn't get that take part in the risk on rally that we saw across the continent. we also see u.s. equity futures rising. u.s. cash trade was also closed yesterday to honor the memorial day holiday. as a result we see futures in new york up about 2% on the dow and nasdaq futures as well as s&p futures up 1.8% right now. let's get your first word news. here are today's top stories from the bloomberg terminal. once a virus hot spot in europe, italy reported the fewest cases since february. belo

anna: i am anna edwards alongside matt miller in berlin. say, is thereets more room to run? the socgen analyst who called butslump said there is, cold water on bond markets. the cash trade is an hour away, and here are your top headlines. angela merkel and president emmanuel macron back a 500 billion euro recovery fund for the european union. the deal needs the support of all 27 eu members, but the two countries of the biggest payers. president trump called the world health organization a puppet of china and promise to pull u.s. funding. stocks and futures shake off tensions and push higher. after eights potential vaccine for coronavirus. it is raising $1.3 billion to fund the development. just under one hour from the start of cash equity trading in europe. we kick off this program with a relatively dire number, european car sales are down 78% in april as demand evaporates. you expect that if you cannot leave the house. stock futures are barely higher now. just above unchanged. dax and ftse futures up about 0.1%. we have breaking news from the u.k. in terms of the regime tha

matt miller is with us in berlin. jump into the conversation, matt. on,: i am here and focused mark, the conflict and now that has broken out between the eu and germany or the european commission and germany, the european court of justice and really the german high court here. how do you see that playing out? see wolfganged to say it threatens the existence of the euro. mark: i have been quite surprised myself by how negative the commentary has been from within the eu institutions toward the vulnerability of the euro. i think that is one of the worst signs, they are saying the euro project that risk. i do not remember it getting so much criticism, the euro getting so much criticism during the euro zone debt crisis. one of the messages at the time was that they would do whatever was required. that was a consistent message. even if they did not deliver, they were talking the talk. this time it is slightly worrying. the one thing that has confused me around this and maybe provided reassurance this is not going to trade to negatively is the commentary ove

in berlin on this labor day -- i am matt miller in berlin on this labor day. we are one hour away from cash trading where markets are open. that may get you your top headlines. tech troubles, global stocks get dragged by big tech. a possible loss in the second quarter, and apple tipping its forecast out right. more protection, the ecb tweaks policy. the economy ravaged by the coronavirus. ftse futures point lower, and much of europe is closed but we will see trading in london. .apital is coming apollo aims to raise $20 billion and several new funds for opportunities in distress and private debt, this after boeing sold $25 billion worth of bonds in the largest offering of the year. just under one hour away from trading in the equity markets that are open. london notably, and the ftse futures are down this morning. we also see s&p futures, dow futures, and nasdaq teachers down. -- nasdaq futures down. we know the u.s. markets will be open as well today. typically a european holiday. the u.s. has detonated a different -- has designated a a different day for that

matt miller is with us from berlin. futures suggest we will see some weakness at the start of trade. matt: absolutely. we are looking at euro stoxx 50 daxres down 3.5%, as our futures. ftse futures trading down .5%. nonetheless, in the red this morning. if you look at u.s. futures, you red as well. u.s. futures down about 1% across s&p, dow jones, and nasdaq e-mini contracts so it does look like we are headed for a risk-off monday to kick off the week. just under one hour away from the start of cash trade, as i said, and we expect, 58 minutes to go, and we expect it to be bad this morning, at least bad if you are long stocks. good if you are short. bloomberg first word news. today's top stories for you. in the u.s., president donald trump is raising the expected death toll. he now thinks as many as 100,000 americans could die from the coronavirus. he is also promising a conclusive report on the chinese origins of the pandemic. that is after comments from both the president and secretary of state, mike pompeo, that the vi