so who is olaf scholz and if he _ scholz. so who is olaf scholz and if he were _ scholz.laf scholz and if he were to go - scholz. so who is olaf scholz and if he were to go on - scholz. so who is olaf scholz and if he were to go on to . scholz. so who is olaf scholz i and if he were to go on to win, but would it mean? he and if he were to go on to win, but would it mean?— but would it mean? he is the finance minister _ but would it mean? he is the finance minister of _ but would it mean? he is the finance minister of germany | but would it mean? he is the i finance minister of germany at the moment and part of the current coalition and if he was to win, it would be an incredible comeback because his party was in the political wilderness three years ago and they would be wrestling power from angela merkel�*s party for the first time in 16 years and also would get the chance to leave the negotiations, they could bring in the green party who are looking for solar panels on every roof in germany, and also an end to combustible engines 2030. also they could go to the free demo

opposition leader olaf scholz cements his position as front-runner in germany. we are just under an hour away from the start of cash equity trading in europe. another record overall first read on dovish comments from jay powell. his carefully constructed speech in wyoming at jackson hole trying to de-link the start of tapering which may happen this year from the start of the rate hike cycle. the european stoxx 50 futures again at -- a gain of 0.1%. futures are flat in germany our focus remains on -- futures gaining 0.1%. let's look at what is happening past the european open and toward the u.s.. s&p futures gaining marginally. nasdaq futures also positive, very modestly indeed. small caps really rallying. gains of more than 1%. trade around the small caps momentum on the back of those comments from jay powell. let's switch over to have a look at the gmm. the commodities space is also gaining. the focus remains not just on commentary from the fed, but the events that are unfolding on the u.s. coastline, particularly louisiana. we just mentioned the headline. 5% o

they converge to a large degree and i think also anchored -- echoed in what olaf scholz told us today, he wants to draw a line in the sand quite clearly towards russia when he says it once pressure to follow osce principles. that is the rule of law, not shifting borders like russia has done in crimea and is attempting to do in ukraine partly. the question would be how that translates into policy where there is something like nordstrom to pop, the pipeline between -- nordstream pipeline between russia and europe. very much standing for continuity, olaf scholz, with all of that experience of finance minister, who can basically say that he helped bring on the international minimum tax rate of 15% in the g20, so an error of internationaux the, azul. anthony: you are watching dw news. still to come -- ♪ >> ♪ r-e-s-p-e-c-t find out what it means to me ♪ ♪ anthony: a new film on the challenges of aretha franklin, one of the most influential singers in music history. after months of social distancing, some of us have been left feeling isolated and looking for advice on how to cope. we found a

stumble, confidence falls for the first time this year's while german inflation hits a 13 year high, olaf scholz tries to cement his front runner status sunday is the race of -- race is close wide open. only three hours of video game time, china forbids minors from gaming more than three hours was weeks of the year i'm of the crackdown on tech companies and what industries are. i am alix steel. francine lacqua joins me in london, in part guy johnson. -- i for -- in for guy johnson. francine: i have a really good fact for you, this is trading at a price to earnings ratio of 25 on trading basis so that means there could be a little bit of a buying into. today is not doing much, but longer-term, september it may be quite good. i really struggle to find a movement worth talking about, overall europe, the italian 10 year yield, and you can see that they may be done with their highs. it is kind of a player eventually against some of the other things that you are seeing , in 26 days we hate -- we have the election to see who the successor for angela merkel we will be -- will be. alix: only three hours

olaf scholz spd is ahead of the conservatives. support for the greens is steady at 17% germany's chancellor candidates went head-to-head. olaf skrrkcholz said he is the l candidate into the post-merkel era. >> i have a plan i have been able to prepare myself well for the offices i held in the past. >> and the green candidate hit out at the spd coalition accusing it of failing to push ahead on key issues slick climate change >> the last few years of the spd and cdu have not done this country any good we need a real departure for me, the central issue for any coalition is climate protection the next federal government must set the course for climate neutrality in our country. it has become very, very he cl this is not the cdu position >> let's get to anetta with the latest following the latest and speaking to you the last several weeks, the standout is the p popularity of olaf scholz. what made his campaign so successful >> i think this time, it is the first time in many years that the social democratic party is standing united behin

olaf scholz may be very good, but you cannot vote in europe or a person, you vote for a party. go into a radical left-wing coalition. that is where they are going. with the cdu you know what you're getting, with left-wing's you do not know. guy: there was some suggestion a few days back that the poor numbers, and i take your point about people versus party, but nevertheless he is having a tough time of things. is there still the possibility for serta to step up and take laschet's place? maria: there was a lot of speculation in berlin around that. there was a meeting where -- that means headlines in germany. the reality is the cdu has lost more than 10 points in a matter of weeks. for sarna to come in and try to were work -- and try to reverse that looks like mission impossible. you do not want to run an election and last-minute that will make things more chaotic. it is better to wait it out and run in the next one. that may be his ballgame. even of the cdu does not make it into power he is thinking in terms of the long-term picture. guy: great stuff. will be spending a lot of t

olaf scholz delivers a shock and germany. the pfd moves beyond the cdu in the first poll.rance's health regulator backs calls for booster shots ahead of approval by the ema. spot commodities are leading the charge. that is a big driver in europe. brent crude up by nearly 3%. alix: big part of that is the dollar. the bloomberg dollar index down to session lows. in theory, what we saw over the last one you for hours is really a pboc pop. the pboc said they will extend credit. they will not be withdrawing credit as may some thought before. that really helps support the beaten-down tech names, and that really spread to europe for a bit, and then picked up steam here in the u.s. the s&p up either a .3%, led by the cyclicals. just to highlight the china support, this is the golden dragon china and asked that monitors chinese adrs listed in the u.s. that is pumping nicely, up about 7%. just to have it off of the commodity rally, iron really getting that nice lift higher. irrespective of the pboc and what is happening with the dollar is the 10 year yield, yields up by about two ba

around 30% would be olaf scholz.see the cdu bring out the heavyweights including angela merkel at a campaign event saying we have the right plan, we are a party that is solid, a tagline that did not go well with some. we have not seen that momentum pickup for the cdu. the trend continues to go down. mark: good morning. a two coalition was the base case. what is the base case now? >> that is a good point. at one point, merkel was almost on autopilot that this was going to be a coalition. if you look at the polls, the greens have really reached their ceiling. they are not able to get past 18%. you look at the social democrats and the christian democrats, they poll exactly at 22%. the next government could be a three-way coalition. germany could turn left or continue with the christian democrats in power. it is not clear. this is a more volatile race than we expected. anna: much more uncertainty than a month or so ago. thank you very much. maria tadeo joining us with the latest on german politics as we work our way towa

and they have been dragging them down and the spd, total democrats for whom the finance minister olaf scholzatively well because of that and i think if you look at the debate yesterday, he did not change there, he did relatively well, according to the polls.- according to the polls. polls at the moment _ according to the polls. polls at the moment are - according to the polls. polls i at the moment are forecasting no clear winner so i suppose likely we will see a coalition formed. is it something that economy watchers, analysts, markets prefer because it enforces compromise and no kind of sudden, sharp changes in terms of what the government does about the economy? indeed. if ou does about the economy? indeed. if you think— does about the economy? indeed. if you think about _ does about the economy? indeed. if you think about it, _ does about the economy? indeed. if you think about it, after - does about the economy? indeed. if you think about it, after 16 - if you think about it, after 16 years of angela merkel, who has been a very dominant figure not just here in germany but europe and eve

angela merkel is taking aim at efforts by olaf scholz to target the conservative bloc in this month'slections. the leader has been painting himself as merkel's rightful successor . but the chancellor pushed back, saying there's a huge difference between them, criticizing him for refusing to rule out cooperation with the anticapitalist left party. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. ♪ >> markets have priced in part of the fed's tapering with the base case in the fourth quarter sometime. the timing on the u.s. jobs market and the state of the economy. this is what the leading critic of the taper had to say about the risk. >> my worry is, if they don't fully account for these new forces, they may be behind curve. that may necessitate stronger tightening down the line. >> he is worried about the fed letting inflation getting out of control by not moving fast enough. our next guest is concerned about this as well, let's bring in the president an

bloomberg spoke with german finance minister olaf scholz. >> we know that after the last big flood, wenvested approximately 6 billion, and it will be obviously more this time, but it will be something we can afford, and we will afford. ritika: scholz is the social democratic party candidate for chancellor in the next election. scholz leads when voters are asked to name their preferred chancellor. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. alix: thanks so much. sterling seeing some gains here after the bank of england said it sees modest tightening coming up in the next few years. boe governor andrew bailey says they are confident about the uk's economic recovery. joining us for more is fabrice montagne, barclays chief u.k. economist. can they eventually taper without rocking the markets? fabrice: well, can they, will they, when will they are all different questions. i'm so surprised that the bank of england appears so eager to discuss all of these quit

stumble, confidence falls for the first time this year's while german inflation hits a 13 year high, olaf scholzment his front runner status sunday is the race of -- race is close wide open. only three hours of video game time, china forbids minors from gaming more than three hours was weeks of the year i'm of the crackdown on tech companies and what industries are. i am alix steel. francine lacqua joins me in london, in part guy johnson. -- i f

tom: if there is an olaf scholz victory, is that a threat of a threat over germany to the left?eoffrey: i would not characterize it as a threat. also, does left mean more public investment to get gross domestic product up? the rebates back 20 years, the gdp has been lagging behind its peers like france and the u.s. they need investment in that direction. it doesn't matter which side of the political spectrum you are on, if you feel the investment gap, you are doing the right thing for germany and europe as a whole. lisa: we were talking about the german elections, the tolerance among the higher -- among the population for higher inflation. they are always worried about inflation. given the fact there is more awareness, more openness to fiscal spending, how does the ecb handle that, given the already starting to talk about potential tapering? geoffrey: if we listen to what has been said regarding the 2% inflation target, and the criteria for retakes, we know that rate hikes are a ways away. thinking about six months away from the gross domestic product quota anyway. what monetary

olaf scholz delivers a shock and germany. the pfd moves beyond the cdu in the first poll.or backs calls for booster shots ahead of approval by the ema.

. >> angela merkel is taking aim at efforts by olaf scholz to topple her conservative block in this month'sn. social democrat leader has been painting himself as merkel's rightful successor but the chancellor has pushed back, criticizing schulz for refusing to rule out operations with the anticapitalist left party. the bank has already paid within $5 billion in fines and legal settlement. we are told regulators are threatening new sanctions over the slow pace of action. sources say that wells fargo is seeking more trying to forgo its operations. global news, 24 hours a day on air, on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. >> more data out from asia today. we are watching how the delta variant affects upland. gdp figures will be learned in a few hours time in the meantime india having already weathered a deadly wave of 19, we are joined by our chief north asia correspondent. taking a look, i was the first quarter will be worse than second. there will be some bright spots in the print today. >> the second quarter already is backward

polls either have olaf scholz's ahead of the block or level with it.eter chatwell, mizuho international head of multi-asset strategy. are markets being overly sanguine in terms of how they are pricing in these political risks that are forming in germany? peter: yes, we believe so. this looks to be typical summer complacency. we think the german election is going to be a real agenda item, even from next week, when market participation is coming back to full strength. if you analyze the number of outcomes, potential outcomes, which are all, you know, decent probabilities, then there is an enormous amount of uncertainty as to who is going to win this election and the impact this will have on german assets. because the chance that the next government not only takes a long time to form, but will have quite a different outlook with regards to their fiscal plan, will have a material impact on the german economy, and also for bunds really in terms of the amount of supply that is expected over the coming years. anna: when we look at european rates over the past