i am matt miller. ♪ matt: this is bloomberg markets. i am matt miller. a check on the markets here.e saw the biggest drop at one point in the s&p 500 since february. now, it is no longer off that much, down 1.2% at the moment. we see the dollar rising after yellen's comments that the fed may need to raise rates modestly. she did not say when. risks of the o'connor me -- risks of the economy overheating, she said. that's true. at some point, the fed will have to raise rates, probably more the modestly. gold down. bitcoin down. those things are better investments in a lower rate environment. take a look at the vix. it is interesting that the s&p volatility index is back over 20. if you look at this on a one year basis, it has been above 20 for most of the last 12 months. in fact, since the pandemic began. but if you back out further and look at it on a five-year basis, it was more rare that it breached the 20 level. we will keep an ion these markets for you. i want to get to our guest. a u.k. medical tech company will go public via a reverse merger. the ceo and founder, andrew rickman

i am matt miller.e following the reopening trade. target, lows, and tj maxx reporting robust sales and a jump in traffic during the spring as more people return to shopping at brick and mortar stores. let's get more from jim taylor, brixmor property group ceo. his company owns more than 500 strip malls in 38 states. i not sure if that is derogatory. his stripmall a fair quest vacation? jim: we like to call them open air centers. stripmall has negative connotations but we know you're talking about. matt: i'm just saying because i know a number of -- i am originally from ohio. we have open air centers that are not anything like strip malls. they are fantastic places to hang out. people go there not just to shop. what kind of properties are doing the best right now? jim: those properties that have a mix of uses. when you think about the category generally it is a category that really permits a lot of different types of businesses to have a great presence in the community they are trying to serve. most imp

matt: and i'm matt miller. -- i'm amanda lang. matt: and i'm matt miller. amanda: a little bit of inflation out there, matt, but nothing that is bothering markets. we have tech in a leadership role once again today. matt: it looks like we are getting some budget headlines right now. check out your bloomberg terminal, and you will see biden'budgets headlines rolling across. $6 trillion has been telegraphed for fiscal year 2022. it looks like the budget assumes real gdp growth of 4.3% next year, unemployment of 4.1% next year and the deficit, the $6 trillion, would equal a 7.8% deficit of gdp in fiscal year 2022. there's a number of interesting headlines here, amanda. the biden budget includes $600 million for electric vehicles? that doesn't sound like very much. is it only million? that is a small figure, i would say. amanda: it seems like a small figure, but the context is the giant figures of spending being offered up here. we are looking at some of the assumptions underlying the budget plans and forecasts, and they are pretty rosy. we will check this with

this that i am matt miller with amanda langa. away by this and i guess people who are paying attention noticed, but i feel like there wasn't desk there was a big deal made out of something a few years ago would have been unthinkable. a fake it's fascinating that europe's investment arm is using the investment chain to issue bonds. amy: what's important about it is the technology that matters and makes sense. when you talk about bitcoin, i will say i don't believe the world central bank will not own the crypto space. they will create digital currencies which is why i question. matt: you had me at this intermediate -- let's move on. as the -- as it embarks on an overhaul. charles lowrey joins us now. we really appreciate you joining us. let me ask how these incredible volatile situation that we are in, with the reopening and inflation and spike in growth affect your strategic plan. it's difficult to navigate such a change in current. charles: thank -- thanks for having me. i'm excited to be on your show. we had a very strong start

matt miller, our kids and germany on the couch? is a much more difficult day trading situation. my daughter has tried to get it up on her iphone, and she cannot do it. there are too many rules and regulations. tom: does your daughter walk you? matt: no, she is only seven months. lisa: i was about to say. she is not sure trading stocks that are on reddit. lisa: i will say my kids are really into deutsche queen. tom: it will be into ditch interesting to see, but -- interesting to see, but matt miller way out front on bitcoin. edward morse of citigroup. but -- stop by. stay with us, from new york, from berlin, this is bloomberg. >> the russian hackers behind the soul for when campaign have escalated attacks on u.s. federal agencies, think tanks, and nongovernmental organizations according to a blog post for microsoft vice president tom berg. in april, president biden ordered sanctions against six companies that provide support to the kremlin operations. in taiwan, officials say the coronavirus outbreak is not under control despite stri

i'm matt miller. confirmed coronavirus cases in the u.s.e at the slowest pace this pent -- since the pandemic began. yes, the risks of resurgence remain as countries like india continue to be overwhelmed by a new wave of infections. let's bring in and are -- amber b sousa -- amber desousa. and our founder and majority owner michael bloomberg supports the school she is from. let me ask about the west before we get into the tragedy that continues to rage in india and ask are we getting closer to herd immunity in the u.s.? are we seeing that on the horizon in europe? >> well, we are making progress. we absolutely are continuing to see fewer death rates among older individuals. we have 83% of senior citizens in the u.s. have more than one dose. the rate of vaccination is slowing and we still have a long way to go to get to herd immunity in the u.s. the majority of americans still have not been vaccinated. matt: the majority of americans still haven't been vaccinated. of course, that counts everybody, including kids. and we are just weeks away f

i am matt miller.et's get a quick check for what is going on in the markets. we are seeing the s&p rise a bit. the 10 year yield, there is a law further down, four basis points further from what it was yesterday morning. the dollar index gaining ground, prude at 65.92. interesting to hear -- crude at 65.92. interesting to hear these senators about financing the oil business and whether or not we should be using fossil fuel in 20 years. not will we be using fossil fuels in 20 years, but should we be using fossil in 20 years. we are joined by wheeling global advisor chairman chris whalen, one of the most influential banking analysts on the street. let me get your take first on these hearings. typically there is a lot of theater involved. do you think anything of substance came out of this today? chris: not really. i got to listen to most of the comments and some of the questions, and it is all just a bouquet in washington. it is more bizarre and more extreme than we have seen in past years because we are

this is bloomberg. ♪ matt: this is "bloomberg markets," i'm matt miller.ompanies are seeing 3d printing as a technology that is more than a prototyping tool. it could be the answer to a lot of the big bottlenecks facing businesses today. joining us to talk about it is ric fulop, chairman, ceo, and cofounder of the 3d printing company, desktop metal. earnings out of the way first, looks like the market was not prepared for your operating loss forecast for this year. the shares sold off at more than 10%. why, why do you think traders, investors were taken by surprise? ric: we beat revenue margins closely and it has recovered since then. it was probably a misunderstanding of folks with the new treatment on warrants that were a legacy from going public. i think it's a non-cash event that gets reversed to the quarter and i think that's, you know, pretty much a non-cash event. matt: it does look like you are right. we can see it on the screen, this is a two day shot, not quite as helpful, the stock, up 1%. it looks like investors have reassessed the situation an

this is bloomberg markets, i'm matt miller. are going to continue to cover all of the market action. we have a rally on cap today, and even bitcoin is bouncing back. this is bloomberg. ♪ ♪ matt: this is bloomberg markets. i am matt miller. it's time for our stock of the hour. for that we bring in dave wilson. ralph lauren reported a surprise profit today, sales are driving the shares to the worst trading day in a year. i have to say, this brand has accompanied me throughout my life. i don't know if it's ralph lauren or ralph lauren. dave: ralph lauren. like ken. ralph lauren. and one of the retailers that we have heard from this week, like so many of them, if you look at the quarterly results, you think great. the company had an unexpected profit. but here's the story, it's all about the retail business which accounts for most of the revenue. and sales in stores have not been open for more than year which were down. you see a decline in you can really see where it came from, europe. so many of their stores closed as a result of

i am matt miller. turn to our weekly segment on the new economy where we examine how global leaders are trying to solve the world's biggest challenges. china is defending its latest census which shows population growth is at the slowest pace in decades. the data has huge implications for the economy of the chinese and the global economy. we are joined for more from andy brown. he is a bloomberg new economy editorial director. how is this happening, as you and i were talking about during the commercial break, they expanded their one child policy to a two child policy five or six years ago. they stuck to that. are they going to let it go? andy: likely not. letting it go, letting people have three babies or more, is basically to admit that the policy was wrong. and as you know, the communist party of china is infallible. they don't want to admit it but in hat -- in fact, the whole population policy was a huge mistake from the get go. it did not need to happen. the population would have come down anyway be

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matt: and i'm matt miller. -- i'm amanda lang. matt: and i'm matt miller. ttle bit of inflation out there, matt, but nothing that is bothering markets. we have tech in a leadership role once again today. matt: it looks like we are getting some budget headlines right now. check out your bloomberg terminal, and you will see biden'budgets headlines rolling across. $6 trillion has been telegraphed for fiscal year 2022. it looks like the budget assumes real gdp growth of 4.3% next year, unemployment of 4.1% next year a

i'm matt miller.elcome to bloomberg markets. here are the top stories we are following for you from around the world. megamerger monday. the details on at&t's and discovery's $43 billion deal as a telecom company sheds its media assets less than three years after acquiring them at an eye watering loss. president biden announces he is sending vaccines abroad. we will hear from him in a few moments on his plan to send 20 million additional doses to other countries that need it most. and we will discuss how businesses will handle the relaxed mask mandate's, with dr. sabra klein of the johns hopkins bloomberg school of public health. a quick check on what is going on in the market today. a steady drop of about half a percent in the s&p 500 this afternoon. we have seen this throughout the session. u.s. 10 year yields up slightly at 1.6352. the bloomberg dollar index falling a little bit to 1119. new york crude coming up to 66.34. a little movement to the upside and in other risk assets to the downside. it

matt miller is on the ground with the ceo of volkswagen.s is bloomberg. ♪ manus: this is "bloomberg daybreak: europe." the numbers are in for volkswagen. they've raised the earnings outlook. higher demand for battery powered vehicles. matt miller has the ceo. good day, matt. matt: good day, manus cranny. herbert joins us to talk about these results. better than the restraint -- better than the street was anticipating and strong electric vehicles as manus said. i wonder how much stronger this is going to get? what is the trajectory of growth from your seat right now? >> we would be very happy if we could finish the year basically on levels of 2019. that would be our target. there is still a lot of challenge ahead of us because of semiconductor shortages. i think we could manage very well in the first quarter, but the incidence in japan and america are going to hurt us now. we think toward year end we are hopeful to recover. matt: can you quantify how much they're going to hurt in the second quarter? we've heard some pretty shocking numbers,

alix: that was volkswagen ceo herbert diess speaking to matt miller. matt joins us now.alking to all of the auto guys, do we have an idea of who is getting hit worse, why and how? what is the differentiator here? matt: we don't know because we don't get specific numbers from everybody. i asked diess for specific numbers in terms of production cuts, hits to earnings. he wouldn't give it to me. we have her incredible numbers on that front from ford. q2 production is going to take a 50% hit, and they will take a $2.5 billion charge to earnings, so it is definitely costing these guys a lot. there are silver linings. for example, they are optimizing production, making more of the higher-margin cars and may be cutting more of the lower margin products. and also, a lot of them are doing things, as you read today, like replacing digital gauges with analog, which personally i would prefer anyway, but also pulling navigation systems out of cars or charging customers more if they want that option. it is definitely changing the way car production is being approached, not just this q

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i'm matt miller.ere are the stories we are following. the path to production. we will hear from the ceo of lucid on the hurdles that's facing from supply chain disruption admit the -- amanda global chip disorder -- shortage and we will speak to bobby lee. we are looking for the outlook on cryptocurrency as bitcoin resumes volatility. later this hour we discussed the absolute surgeon housing prices -- surge in housing prices. and tom schapiro will be joining us. let's take a quick look at what's going on in the markets. it's a lot of nothing if you're looking at stocks. bouncing around between gains and losses on the s&p 500. the 10 year yield has come down. we saw at one point this morning more than 160. now we have dropped down to 157. new york crude and brent crude are rising. 36 a barrel. and gold is approaching to $1900. this is at 1896. let's get to something that caught my eye, loosen motors. like a lot of companies it's facing supply chain disruptions and delays amid the global chip shortage. t

matt miller spoke with angel gurria about that pace of economic recovery., it is pretty robust. it depends on whether we could keep up the rhythm of vaccination. it is vaccination, vaccination. that will define how robust the recovery is, and the other question is is it going to be vaccination only for the wealthiest countries or are we going to generalize it. we need an important effort to get vaccines into the arms of people in developing and emerging economies. without that, we will not be able to say we have overcome the crisis. matt: the wealthiest countries are going to be looking at 60% to 70% coverage in the next weeks and months. they are well on the way to don. how long is it going to take developing nations to get to that kind of vaccination coverage? sec. gen. gurria: the answer is how smart and how generous the developed countries will be. if they are smart and generous, that means it is the same. being smart means being generous, being generous mean smart. then we should fund mechanisms like covax. we should get only a fraction of the trillion

clint watts, carol leonnig, matt miller, thank you for starting us off this hour. >>> when we return,t republicans are offering far less. how long should democrats keep dealing with them before going it alone? we'll ask a key member of the biden cabinet next. >>> and later, did the ex-president offer to pay a bribe to a powerful senator to make an investigation into the new england patriots go away? that is the new accusation from the late senator's son. we'll have that blockbuster new reporting for you. "deadline white house" continues after a quick break. don't go anywhere. continues after a quick break. don't go anywhere. good morning, mr. sun. good morning, blair. [ chuckles ] whoo. i'm gonna grow big and strong. yes, you are. i'm gonna get this place all clean. i'll give you a hand. and i'm gonna put lisa on crutches! wait, what? said she's gonna need crutches. she fell pretty hard. you might want to clean that up, girl. excuse us. when owning a small business gets real, progressive helps protect what you built with customizable coverage. -and i'm gonna -- -eh, eh, eh. -donny, no

he spoke earlier to my colleague, matt miller. roland: you named it -- automotive.ith electronics and they need -- they have a lot of demand. they are also fighting for these chips compared to others, the other i.t. companies with laptops and the like. this is the point when you have to look -- this is a point that you have to look at. many markets are pulling up now. we think this can hit anyone. matt: what about input costs? we have seen an increase in prices for so many commodities, metals specifically have been really eye-popping increases in price, how are input costs affecting siemens? roland: that is so. we have a price increase in raw materials as well as in the freight to freight cost. we have put that into our price so we have a price increase in order to compensate for it so therefore i would say this is contained. we increased our margin and this quarter to 20.1% which is an extraordinary margin. therefore, i do believe that we have that under control but we have to watch it closely. matt: what is your take, by the way, on the possibility of opening an i

jonathan: on a serious point, i'm with matt miller.miller said that if you don't do one day delivery, i'm not the pitting anymore. i feel that way in a big way, particularly over the last 12 months. when this first started, i remember struggling to get a delivery slot with amazon. i think that was true for so many people in new york city. but once they started coming through, i don't think i have done a full food shop at a grocery store for a full week of eating for about 9, 10 months. i think it has been that long. i am just wondering how sticky some of this behavior actually is. joseph: i do think a lot of this will hold. i understand, as the recovery happens, people want to get back out, and they are going to start going to ball games restaurants and dining out, but there will be some element of people that are still going to keep a lot of these behaviors. as you said, shopping for groceries on lined -- groceries online, having them delivered. the pendulum will still be tilted towards eating at home more than pre-pandemic, which bod

. >> matt miller, what is the emerging picture as some of these investigations -- as these investigations don't end, but with the other reporting around the search warrants that was pursued for rudy giuliani's devices and questions about bill barr's role there, new questions about the firing of the trump appointee who led the u.s. attorney's in the southern district of new york. this rebuke from this judge around what was -- i believe all three of us were on the air together during some of these moments. it fell like a slow-moving car crash watching bill barr say things like, well, the president had this thing hanging over -- he was talking like, whatever the third or fourth secretary trump was on at the time and he wasn't talking about the country's attorney general. what for you, matt miller, is new or novel about the new pieces to the barr legacy that we have to examine? >> we've gotten used to talking about the politicization and the corruption of the justice department under bill barr. whad think we're seeing more and more is just the outright dishonesty. in this case you have a nest

i am matt miller in berlin. the castrated is just about one hour away and here are your top headlines from the bloomberg terminal. asians docs and european futures retreat as investors weigh inflation risks and the strength of the economic recovery. they will get their next hint with this week's jobs report. markets and the u.k. and the u.s. are closed today. asian stocks and european futures retreat as investors, as we said, continued to weigh those inflation risks. we will get this jobs report we are really looking forward to and the markets are closed in the u.s. and the u.k. today. the origins of covid-19, experts are asking china for information regarding the wuhan lab leak theory. we are under one hour away from the start of cash trading. i'm repeating myself over and over again. that is likely to continue for the next four hours. let's take a look at what's going on in terms of futures this morning. we are looking at losses. although very slight and you are going to see very light trading today. in just a

shery: the vita -- the vw ceo speaking with bloomberg's matt miller. world argan creative to keep some production moving forward. some are scrapping itech features to save on chips. the ongoing crisis is a historic test for the industry as they try to accelerate the shift towards smarter electric vehicles. edwin chan joins us now. give us some examples of what these carmakers are doing in order to respond to the crisis? reporter: i think is seeing carmakers scale back a little bit and perhaps water down some of the features. none of these are safety-related features. i do not think that consumer has to be worried. speedometers moving towards analog, and scrapping infotainment systems. i think that underscores global industry right now, just heard from a major -- you just heard from a major automaker a few years ago. the industry is bracing for shortages to extend, assuming capacity ramps up appropriately. haidi: what's the demand side of the story looking like? reporter: i think -- you've seen demand not just fall for cars, but also for a host of elect

i am matt miller in berlin.d is just about one hour away and here are your top headlines from the bloomberg terminal. asians docs and european futures retreat as investors weigh inflation risks and the strength of the economic recovery. they will get their next hint with this week's jobs report. markets and the u.k. and the u.s. are closed today.

i am kailey leinz in for matt miller, welcome to bloomberg markets.ere are the top things we are following around the world. we speak to the ceo of trulieve on first-quarter earnings report and you will hear to a former ambassador of canada on reopening the border and the other pipeline issue getting overshadowed this week. we talk to the president of the council union which represents around 40,000 disney employees. first, let's get a check on the markets. it is two different stories when it comes to upside inflation surprises. cpi ahead of expectations and higher yield, lower equity markets. today, ppi surprises to the upside but not the same reaction. equities are broadly higher, although we are around session lows on the nasdaq 100, it is underperforming, up .7. yields are moving lower, down about two basis points on the 10 year treasury yield to 1.627%. weak demand for the 30 year option happened at the top of the hour. i will have more in a second. in other asset classes, dub uti crew down 4%, headed for the worst day since early april, all abou

i am matt miller in berlin. the cash trade is less than one hour away, where it isn't a holiday.ly, you are sleeping in. here are your top headlines from the bloomberg terminal. red-hot growth. that is what warren buffett's words on the u.s. markets were. he says the market is seeing almost a buying frenzy. we

i'm matt miller.he number of new covid cases last week hit an eight month low as more americans are vaccinated. in the ok, the prime minister announced more restrictions will be relaxed next week. we have with us the executive director of the international vaccine access center at the johns hopkins bloomberg school of public health. the easy work has been done in the u.s. and the remaining parts will be vaccinating those who are hesitant, but should the u.s. focus on getting the vaccine out to countries like india, to africa and south america in order to stop concerns about mutants spreading? >> yes, that is exactly right. thank you for having me. our work is not done here in the united states. we still need to do better in increasing our vaccine coverage. if we look at the total u.s. population, it is only just over a third that have been fully vaccinated, so there is still more work getting increased access to those who cannot get the vaccine and addressing the skepticism and mistrust. but you are r

i believe i heard matt miller talk about gasoline on this memorial day weekend, up near a 10 year highhave to discuss that as well. i would also note, as the dollar is churning here, within that is strong renminbi. we will get to that any moment with dr. morse. futures will never go down, and now to explain all that matters with gamestop, amc and the rest of it, mr. bostick. romaine: i'm actually going to start with ford because this is the other meme stock rallying. tom: ford is a meme stock? romaine: it is now. right now up 2%. doing work over there to try to pivot this company towards ev. investors seem to like what they hear. this is a company now firmly in the conversation about not only making ev's, but really leading in the ev space. this is a company a lot of people think can actually go punch for punch with tesla in regards to what it offers and how it offers it. those shares up 2.3% in the premarket, at the highest level we have seen in several years. keep in mind, this has been one of the biggest laggards out there. if you missed it, yesterday amc was up 30%. it is up 15% in

do you think matt miller is going to by an electric ford f1 50?isa: i do not see him in an electric vehicle of any sort. jonathan: lamborghini talked about that yesterday too, tom. tom: i don't know what a lamborghini is. jonathan: you don't know what a lamborghini is? tom: i think the f-150 thing is brilliant. it is going to be an amazing marketing campaign. i drive in a nash rambler. could you leave me alone? lisa: i'm the only one with a driver's license among the three of us. just want to put that out there. i will drive for the next road trip. jonathan: we are driven. lisa: driven by me on the next road trip we go on. jonathan: preferred to be driven, not to drive. lisa: in an electric car. jonathan: in an electric ford f1 50, apparently. tk, lamborghinis and spaghetti? what is that? tom: i don't know. jonathan: is that detroit bias? is that what that was? tom: no, detroit had a no-hitter yesterday. jonathan: this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. target's first-quarter sales blew past wall street estimates.

guy: the ceo over at siemens speaking to matt a little bit earlier on -- matt miller earlier on.not facing headwinds when it comes to chips, but they are facing raw materials issues. you hear this from every industrial company now, how big a problem this kettle to millie be. -- this could ultimately be. alix: other issues like travel costs as well. bloomberg intelligence says that could be a bigger issue for them as well. plus, there was some stockpiling that happened, so maybe sales will not be as gangbusters. we will stay with this corporate theme here. british airways seeing a rebound to pre-pandemic levels could take place. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings. or visit and xfinity sto

anyway, matt miller caught up with herbert diess a little earlier, the ceo of volkswagen, one of theers in the world. clearly going to be suffering from this shortage in chips. this is what he had to say. >> there is still a lot of challenge ahead of us because of semiconductor shortages. we could manage very well in the first quarter the general shortage, but the incidence in japan and in america, they are going to hurt us now in quarter . guy: let's talk about where that is being felt the most. these automakers are also global, so when you think about this from a geographic basis, you are not thinking necessarily about this from a company point of view because a company like vw manufactures all the way around the world. but in terms of where the shortages are going to manifest themselves the most, interestingly enough, alix partners -- not our alex, he different alex -- it is china that will take the hit. you leaders perhaps were not as ready for this shortage. south korea, japan, others. i listened to mary barra. she said we are managing it. according to alix partners, north ameri

jon: i had some sympathy for matt miller's argument this morning, making the argument that shouldn't island be able to make its own decisions on where it's corporate tax should be? why should they agree to that? tom: i find the whole thing odd. is the right word quixotic? jon: i can see why the administration wants this to happen, but i don't know why they would want to come along for the ride. lisa: did you see maria tadeo's interview with the foreign minister? it basically came out but said he could see something maybe coming out midyear. jon: sure. 12.5%, maybe. lisa: fair. ok. jon: 15 is clearly closer, but if i had to come all the weight down the 15% from 21%, because island is not coming along for the ride. lisa: no. jon: you can have these -- try to have these high-level conversations on what should happen and put yourself in the epicenter. there is that thing called sovereignty, is that lost on everyone? tom: i think it varies. i think we need an explanation, because you have been leading all financial media and the idea of getting a london quarter. what is the separation of

jonathan: let's bring in matt maley, miller tabak chief market strategist. e data at 8:30 eastern time. do you still think we are underestimating the price pressure? matt: yes we do. one thing we may be a little care for off -- a little careful of is a lot of these commodities are getting incredibly overbought. copper, some of these things, they are probably going to come down at some point on a purely technical basis. that might if some people some relief that inflation is really not a big deal. but i totally disagree, that will be a head fake because inflation will do nothing but go higher. you look what happened before the pandemic. we had record levels of debt around the world, not just in the u.s. since then, the debt has exploded even higher. when we have a situation like that, you only have two ways out. it is default, or you can inflate your way out. the fed knows it. as bad as inflation can become a default is much worse. so those thinking inflation is going to be transitory i don't think are right. it may not be ending 70's style, but it is going to

that was the ceo of volkswagen speaking on their earnings and global chip shortage talking to our matt millero richard saldanha who is still with us. it is curious, this earnings season, such a talking point, this chip shortage. plenty being written about it. yet you see players in this sector raising their values. tight some of these things together for us. richard: absolutely. it is a big focus, for all. 2021 is quite a pivotal year in terms of lunches. vw got the idea. a lot of these copies are upgrading. yet the stocks have sold off. i think with that is telling me is that the supply issues are really driving the stocks, certainly in the short term. longer-term, it could be an interesting opportunity. when you think about demand, the rebound volumes, we think the long-term demand outlook remains as robust as ever. for investors willing to look through some of the short-term supply bottlenecks, i think it could be an interesting opportunity. the gm results show that they maintain it. it is affecting in various ways. certainly it could present an opportunity for investors in the long-term.

i am matt miller in berlin. the cash trade is less than one hour away, where it isn't a holiday. hopefully, you are sleeping in. here are your top headlines from the bloomberg terminal. red-hot growth. that is what warren buffett's words on the u.s. markets were. he says the market is seeing almost a buying frenzy. we will get the latest on the oracle of omaha's mistakes and predictions. no inflation issues. janet yellen is relaxed on inflation, saying she does not see president biden's plan because impressions on that front and daily deaths in india hit a record as prime minister narendra modi's party loses an election in a key state. we are in mumbai. just one hour away now from the start of cash equity trading here in europe, it's a holiday in the u.k., in ireland, in many of the eastern bloc countries as well. let's take a look at futures. you will see green arrows as we do in terms of u.s. futures so euro stoxx 50 futures, dax futures as well. we see dow jones, s&p, and nasdaq many contracts all on the up so after losses on friday for the s&p 500, coming off of a record, loo

secretary-general speaking with matt miller.n markets are faring this to morning. equities trading near a one-month high near the top end of the range since february. trading going into a summer stretch that is seasonally strong for the region, with health the typical out performer. earnings remain very much key. we are seeing materials gain ground across the board, leading gains on the nikkei. banks falling. commodities broadly higher this morning. oil adding more than 1% tuesday after a two-month gain. with oil on the rise, the opec-plus forecast a tighter global market. we get the outlook from ubs executive director, wayne gordon, who sees robust returns among the commodities complex, ahead. this is bloomberg. ♪ >> the redhead crossing the bloomberg terminal right now, china boeing no tolerance for commodities speculations. >> where do we go from here? >> commodities markets getting mixed messages. >> regulators stepped up their fight against soaring prices. >> that can be interpreted as, we want to raise commodities imports.

matt miller joins me this morning to take us to our next conversation, what is going on in the germanking sector. the story behind commerzbank and the guidance they have given to the market this morning. matt: good morning, anna. i think the story behind commerzbank is the story behind the german recovery. they both had a surprise profit in the first quarter, beating the trees and upgrading their four-your outlook. revenue sort 35% in the period. the bank profited from strong trading and investment banking predictions. there is a lot of optimism as well. we are joined by bettina orlopp, chief financial officer of commerzbank, coming to us from the headquarters in frankfurt. thanks for your time. talk to me first about the drivers behind the surprise profit in q1 and early lifting your outlook. there is a lot more optimism, and i assume this is all to do with the reopening and regrowth of the german economy. dr. orlopp: yeah, thanks. first of all, the report was indeed very good. what were key drivers? revenues up by 35%, that is most, clearly. secondly, costs came in expect the as pla

well cup winners, thomas miller and matt tunnels have been welcome back team germany one month before the european championships. they were told there were no longer needed on the team back in 2019. but coach you actually know says they will be valuable in the upcoming tournament. but has had a stellar season with buying munich and is the bonus leak as top assist maker and hummel's help put documents into next seasons champions? you're watching the news. here's a reminder of our top story. israel is continuing. a launch is continuing to launch as strikes against hamas in gaza, cause growth deescalate the concept. benjamin netanyahu in the operation will continue until its objectives are achieved. that's what she w. news. i'm really bothered to. ah. the species expedition into the language of their research team to the pacific to include job whales starts july 4th on z w. ah the the news in september 1943 brothers occupied nazis. the 1st order of business to ground up the tooth and he tug capital thousands scrambled for a place to hide the sled money into the catholic hospital under th

well, the final matt state is coming up the last chance to stay in the league for cologne . for miller felt full brain hello and have to be all ready relegated shaka. can they do it? i don't know. i think they they were tried. we know the last game like ramen, need a victory over the we have to believe we have to believe like last year luck will be fighting for 7th place. and the new conference league, while really failed, had to stood guard, who also shooting the 7 spot? i think in the end every, everything would need some teams. yes. find out who next week on kick off. ah, the news. the news? the news. the news, the news the ah, the enjoyed waiting dream again world must be a couple weeks in burn in south africa, people with disabilities more likely to lose their jobs in the black lives matter process. shine a spotlight on racially motivated to leave mind things that marriage is being legalized in more and more countries, discrimination and inequality are part of everyday life. for many, we asked why? because the life is diversity. to make up your own mind. d. w. need for mines me to

matt state is coming up. the last chance to stay in the league. full cologne . full miller felt full brain and cologne have to be all very relegated shaka, can they do it? i don't know. i think they were tied to the last game, like raymond, need a victory over the bus. we have to believe we have to believe that the bus will be fighting for 7th place. and the new conference league, while wheeler failed head to stood guard, who also shooting the 7 spot? i think in the end, everything was something yes. find down to next week on kick off. ah, the news? the news, the who's the the, the, ah, the against the corona virus pandemic now has the rate of infection in developing what measures are being taken. what does the latest research, say? information and context use data because it central monday to friday on d. w. and then how many pushed out in the climate change cost the stores. this is my plant the way from just one week. how much less can really get. but we still have time to go. i'm going to be double used crime fighters, the car back africans, most radio dramas, continues