nicola mai of pimco, thank you very much, indeed.p next, espresso capsules help driving nestle's blowout quarter. we will speak to vontobel next. this is bloomberg. ♪ alix: the world's largest food company posting a blowout quarter driven by people still stuck at home. nestle sales grew more than twice that is -- or than twice that expected. jean-philippe bertschy is an analyst with vontobel. the stock has already had a humongous run. we didn't end up getting updated guidance. are we going to see the same kind of growth justifying the same kind of stock price? jean-philippe: yes, i think sales were very strong, twice the rate the market was expecting. of course, we had an easy comp from covid last year, but we expect strong results. guy: i can't believe that these kind of numbers are sustainable over the medium-term. short term, yes. but as the pandemic gets behind us, can this company continue at this kind of clip? jean-philippe: i think it is a very high level. don't forget q2, we had some easy comp, and the second quarter on, you

>> bloomberg real guilt is brought to you by pimco, a global leader in fixed income. bloomberg real yield starts right now. >> coming up, treasury rally for a third street read -- we. we began with the, a bond market. >> the question is, what is driving lower schumer >> there is a lot of supply. as low for a reason said controlling >> we're going to head back to 2%. but it does not want to be linear. -- it will not be linear. >> this whole idea -- she was a bit too early. >> we are setting the stage for june. >> the bond market rental, i want your take from each everyone of you. over last three c had a rally. many cases some better than. what is your read on that? >> ivanka market -- you know we've got very strong print, i think mac was zero religion minds what we expect. you saw this informative variety of investors which caught the market/rise. had to in a rush. stashing nonsense you on markets, bond markets are still skittish. carol: what is your shake, just? jeff: i think there -- >> what is your take, just? eff? >> yields got to a level where if we look through t

libby cantrill, pimco head of u.s. public policy.. ♪ alix: that wraps it up for this week. tgif in a big way. monday is a bank holiday in the u.k. but guy still has to work. then we get a lot of juicy data. we have u.s. pmi, we have ism. earnings from pfizer, lyft, conoco. a lot is happening in the oil space. guy: the for ari as well. matt miller will be excited. i will be here monday. i think it will rain. bank of england thursday will be interesting. there's a possibility we start talking -- the bank of canada has already done it. you wonder whether the u.k. could be next. volkswagen earnings -- local elections. christine lagarde speaking. then the big one friday. it seems to come around awfully quickly. it is the u.s. jobs report. alix: i am excited about that because i feel like -- we've been hearing we could see one million. i think i remember ethan harris of bank of america saying 2 million could start happening in the next couple of months. these will be some huge job numbers we could see, especially people start coming back i

pimco's greg sharon on is saying real shortages are seen in the market driving this boom. not just expectations of future demand. the euro hanging onto a handle. monday, france is going to start a four-pronged process of reopening the economy. let's start with china. that is hitting asian equities. regulators have cast their nets wider in an ongoing crackdown on big tech. wide-ranging restrictions have been imposed on the financial business of 15 companies including tencent and bytedance. you see the reaction on the board. stephen engle taking a closer look into all of this this morning, joining us from hong kong. if you're just looking -- waking up in europe, what do we need to know about this crackdown? >> this is not just about alibaba and ant. alibaba was giving a long list for anticompetitive behavior. this is the other side of the crackdown going on. that is to contain risk in the financial system. ant group was the first domino to fall. as we have seen with another 13 companies including the big tech titans, they say there is a duopoly in china for platform companie

nicola mai of pimco will join us. we will get his take. this is bloomberg. ♪ it's moving day.riends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. ♪ guy: from london, i'm guy johnson. alix steel is over in new york. we are continuity down to the european ash we are counting you down to the european close on -- we are counting you down to the european close on "bloomberg markets." ecb president christine lagarde confirming a sig. for can lay pasto -- a significant leave faster pace a bond buying. the ruble reacting positively. credit suisse to raise $1.9 billion after the archegos news. it is not exactly the most riveting day in terms of market activity today.

what they were before trump lowered them joining us now is american enterprise institute james and pimco'st the rate was 35% before the lowering in the trump tax reform of 2017 and '18 not the number to which president biden wants to take it back he wants to go back to 28% am i not right remembering that? >> that's the legal rate i think. many corporations were paying a lower rate than that that was the rate on the books and president biden is now advocating to take that rate from the 21% to 28%. >> so splitting a difference basically. as you point out very few companies pay that top marginal rate at all. many don't jimmy, what incentive would there be for a country like ireland or a tax haven like the bahamas or bermuda or other places, what incentive would there be for them to agree to a uniform corporate minimum tax when they have it pretty good if their tax rates are lower than ours and attract american businesses >> very little reason. they'd be giving up a potential competitive advantage. they rely on a competitive tax rate to attract business i think this is an extremely difficult t

joining us now is geraldine su ndstrom, pimco portfolio manager.e've got several picking up the pace when it comes to vaccinations, but others are worried about what is happening on the fiscal front. what is your assessment of the economic trajectory that the eurozone is on at the moment? geraldine: first of all, good afternoon, everyone. i think you cannot time it for a couple of weeks and months, but certainly what we are seeing is the manufacturing sector is in good shape. the order books are pretty full. as we reopen, the service sector is going to catch up. fiscal is going to come, and monetary palace he remains extremely accommodative in europe, but in most countries throughout the world, so i would say the future, especially the summer, looking bright. alix: we saw a huge print from ppi here in the u.s. china also had one overnight. are we going to see the scene kind of print in europe, or something different there? geraldine: the ppi tends to be global, a lot of raw materials which touch every country globally. so i would say the one millio

morgan chase and tiffany wilding of pimco. stay with us on radio, on television. ♪ it's moving day. friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. so jeff, you need all those screens streaming over your xfinity xfi... for your meeting? uhh yes. and your lucky jersey? oh, yeah. lauren, a cooler? it's hot. it's march. and jay, what's with all your screens? just checking in with my team... of colleagues. so you're all streaming on every device in the house, what?!! that was a foul. it's march... ...and you're definitely not watching basketball. no, no. i'm definitely not watching basketball. right... ( horn blaring ) ♪ jonathan: from new york city for our audience worldwide, the countdown to the open starts right now. 30 minutes away from the opening bell. let's

in the next hour i am pleased to say i will be catching up with pimco to get their reaction to the inflationwe'll catch up with the managing director and global economic advisor joachim fels. looking forward to that conversation along with megan greene of the harvard kennedy school. this is it. it starts this week and will continue for a solid eight months through to year end. tom: you wonder what the new normal will be for joachim fels. jonathan: this discussion is the new normal. it'll be with us for a long time , through to 2022 perhaps. alongside lisa abramowicz and tom keene, i am jonathan ferro. equities ok. inflation hotter than expected. from new york, this is bloomberg surveillance. ritika: with first word news, i am ritika gupta. president biden says he has congressional support for government funding to address the semiconductor shortage. that shortage has forced automakers to shut down production lines. the president spoke at a white house meeting with more than a dozen ceos. he said there is bipartisan support for his $50 billion proposal for chip manufacturing and research. all

looking forward to catching up with erin browne of pimco. what a week it has been.cpi, and there is your bond market. lisa: also bank earnings. a wild week as we try to assess whether we have priced in too much optimism or not enough optimism into earnings. picking up a season that will be interesting. the dynamic, we do not know what happens, how long the cycle lasts. this idea of how long can we see this boom? will it be short or is the short boom going to drive enough momentum to carry into quarters beyond. jonathan: let's take a seat on the investment committee -- that is mr. wiesenthal saying -- let's get on the investment committee and think about it. the biggest risk was clearly upside risk and we are not positioned enough for it and i do not think economists were optimistic enough. the balance has shifted. now we have economic expectations come through so much higher over the last six months. lisa: the other hindsight capital management committee note will be about the dollar and the idea of the dollar would weaken substantially in the reflation trade would

we will be speaking with libby cantrill, pimco had a public policy.up, we will talk to sachin khajuria of achilles on what president biden has proposed. this is bloomberg. ♪ ♪ guy: welcome back. one of the proposals in president biden's spending plan calls for an end to the carried interest loophole, which means private equity is going to lose a lucrative tax break potentially. sachin khajuria, former partner at apollo global management, founder of achilles, joins us now. also with us, bloomberg's sonali basak. thanks for your time today. this is a well-timed conversation. let's kick it off straight at the pointy end of where private equity is right now, carried interest. is it going away? is it completely going away? what are you expecting, and if it does go away, what impact is it going to have on this business and returns? sachin: thanks, guy. it is nice to be back. it is nice that you started with the easiest topic of the day. [laughter] it is too early to tell if this is going anywhere, but i think the discussion does need a little bit of perspec

let's bring in a former federal reserve governor audio and a former pimco chief economist and mike santoli, cnbc senior markets commentator joins us as well good afternoon to you all. sara, in terms your key takeaways from this, i guess it was more of the same, more of what we expected thus not massive moves in the market in reaction. >> that's exactly right, wilf. you know, you saw chairman powell really not want to take the bait on any of those tapering questions he really wanted to draw a strong distinction between the fact there has been a rebound, but it's not a recovery. and he really leaned hard on the fact that this recovery is starting, but it is nowhere near complete and all the questions regarding, you know, pushing him a little bit on, you know, cutting back on mbs or, you know, maybe just starting to think about tapering, he wasn't going to take the bait. >> no. not on inflation either. everyone stay right here we want to get to cnbc senior economics reporter steve liesman who asked questions at the news conference your takeaway? >> i think the key thing is the fed upgraded th