jisi -- i am ritika gupta. bloomberg. ♪ >> if you are a country that is highly vaccinated like the u.s. is, the delta variant is going to cause problems but it is not going to put you into crisis. if you are a country where there is not enough of your hourly population vaccinated, the delta variant could put your hospitals back to where they were in the beginning of this pandemic. jonathan: the latest concern in the never ending pandemic. from new york city this morning, good morning alongside tom keene and lisa abramowicz. i am jonathan ferro. pricing action looks like this. yields are higher on a 10 year, up by about a basis point. euro-dollar, 1.1949. $73, wti. tom: you did better than yesterday. jonathan: just went over and over again, just to get it right. lisa: i am calling dr. phil. good luck. jonathan: i imagine how much that would cost. carreon, tom. tom: always with the blue ribbon and emergency services in john's -- in johns hopkins, lauren sauer joins us on the pandemic. i want to look at the housto

.-- ritika gupta. company says it has been given federal approval following the may 22 test flight moving towards its first fully crewed test flight this summer. adia will boost the offering of cloud services to customers. the company says it is increasing revenue by double digits and the acquisition is expected to boost operating margins immediately. booming cryptocurrency firms are starting to find the right candidates to fill positions. that is leaving if you were people -- fewer people to find workers to expand their business. gemini and crypto.com are hiring. that is her latest business flash. guy: thank you very much indeed. we are awaiting the results of the russell rebalancing and what impact of the meme stock meeting at will have on these indices. dave wilson is the perfect man to dig into all of this. dave: thanks, guy. you are talking about the annual reconstitution, as it is called, of the russell indexes, russell 1000 for larger company, russell 2000 for smaller companies, growth and value

i'm ritika gupta.resident biden will promote his infrastructure plan today in rural sconce and, where support for trump -- world wisconsin, where support for trump still runs deep. wisconsin is one of the states that will play a key role in the 2022 elections for control of the senate yet house speaker nancy pelosi has moved to create a select committee to investigate the attack on the capitol. the panel would have subpoena power and no deadline. senate republicans blocked creation of an independent commission. legislation would give republicans five of the 13 c. it is -- 13 seats. it is a record purchase for the airlines. the deal is valued at about $15 billion. new jets and other united single planes will get a revamped cabin with seatback screens and larger overhead compartments. and is a milestone for facebook. shares of the social network rising after an antitrust victory helped push its market value above $1 trillion. facebook is now the fastest company to reach that level. a judge granted its re

i'm ritika gupta.he u.s. and european union have agreed to a five-year tariff troops in the long -- tariff truce in the long-standing dispute over airbus and boeing. it turns the page on a key conflict in president's trade war with europe. the u.k. is set to announce a free-trade deal was australia today, expect it to cut tariffs on products like scotch whiskey, clothing, and cars. british farmers have been concerned they could be undercut by cheap australian meat imports. the british government has hinted that tariff cuts could be phased into protect the farmers. the eu reportedly has excluded 10 of the biggest acts in the debt markets from running its lucrative bond sales. according to "the financial times," that's because they were involved in market rigging scandals. five months after the assault on the u.s. capitol, the biden administration is outlining plans for fighting domestic terrorism. it will also consider whether more laws are needed to deal with the threat. deutsche bank is set to rick an

i'm ritika gupta.sident biden reportedly is planning an executive order that would rein in the power of big business. according to "the wall street journal," it would order regulators to toughen up oversight on a small number of companies. the action would most likely be challenged in court. a divided u.s. supreme court has refused to lift the federal moratorium on evictions during the pandemic. that will leave the ban in place until the end of july. the vote was 5-4. justice is rejected because by landlords and the real estate association to block the moratorium. the plaintiffs argued that the cdc exceeded its authority by imposing the ban. a big foul up in vote counting in the race for mayor of new york city. the city board of elections took down previously reported results and the democratic primary after mistakenly counting test ballots. that produced about 135,000 dummy ballots that skewed results. the inaccurate count showed brooklyn borough president eric adams losing a large part of his lead. i

ritika: with the first word news, i'm ritika gupta.t is a record purchase for united airlines. the carrier has agreed to buy seven boeing jets and airbus jets. those will get a revamped cabin with seatback screens and larger overhead bins. it is a sign that united wins to step up competition with its two big u.s. rivals, delta and american. president biden is defending his decision to order air against iran backed militias in iraq and syria. there's been no public reaction from iran's president-elect e brain raisi -- president-elect ebrahim raisi. house speaker in tbilisi has moved forward to create a committee to investigate the january 6 -- speaker nancy pelosi has moved forward to create a committee to investigate the january 6 attack on the capitol. facebook is now the fastest company to reach -- a judge granted its request to dismiss complaints last year filed by state attorneys general. jp morgan reportedly is boosting pay for junior bankers, according to the u.k. financial news. the bank is now offering first your analysts start

i'm ritika gupta. this is bloomberg. ♪ ♪ pres.: i think he's right that it's a low point, but this is not a contest of who can do better in front of a press conference or try to embarrass each other. it is about making myself very clear what the conditions are to get a better relationship. tom: the president of the united states in cornwall, now in brussels, on his way to a good conversation in geneva with president putin tomorrow. jonathan ferro, lisa abramowicz, and tom keene. jonathan ferro out. romaine bostick helping us this morning. right now we go granular with gregory valliere. he has a life tied to the south of switzerland with some st. bernard somewhere on his way to milan. he's leading the way to american tourism in europe. very quickly here, should americans travel to europe? your leading the way. greg: if you had your shot, if you have been tested recently, yes. tom: we will leave it there. there's too much going on. i want to go to a great npr thing i heard on tennessee, which is the the distance between memphis and

i'm ritika gupta.iden heads off on his first overseas trip as president. he's heading to the u.k. for the group of seven meeting, where he's going to focus on increasing the availability of coronavirus shots to lower income countries. after the g7, the president will attend nato and european union summits. then he will meet russia's president vladimir putin in geneva. a group of democratic and republican house members have come up with its own infrastructure spending plan that calls for a total of $1.2 trillion in spending over eight years. president biden supports a 1.7 trillion dollar proposal, but the president ended talks with republican senator shelley moore capito yesterday after they failed to agree on a spending plan and how to pay for it. the senate has overwhelmingly passed a bill to help the u.s. compete with china, to bolster manufacturing and technology. it was a rare spot of bipartisanship in an otherwise polarized senate. still, the bill's fate in the house is uncertain. in the u.k., the

i'm ritika gupta.tish prime minister boris johnson will give leaders a beachside welcome today, formally kicking off the g7 summit. the leaders will focus on economic recovery as the summit gets underway in cornwall as the world's most developed nations discuss ways out of the pandemic. while three distributional and taxation -- wealth redistribution and taxation are likely to be on the agenda. china has approved three vaccines for emergency use in children age three to 17. the country's accelerated vaccine drive comes as the u.s. pushes for a new inquiry to determine how covid emerged, including whether it leak from a lab in the city of wuhan. g7 leaders will call for a new study into the arjun's. 's -- into the origins. some pharmaceutical executives have been mixing two different covid vaccines to get what they claim is better protection. studies in spain and germany showed promising results. in the u.s., the national institutes of health is evaluating the method. one drawback, while researchers say

i am ritika gupta.omberg. ♪ >> what we're seeing is the variants that have emerged appear to be more likely to get kids sick and potentially get them sicker. the idea that, this is a common cold in adolescence, is not necessarily true. we don't our -- we don't want our kids to face even a small risk of a catastrophic outcome. it does make sense to vaccinate. tom: that's joshua sharfstein there. thank you for the many comets worldwide and across america on our coverage of the digital outage. we have tried to coalesce all of the different flows. i guess it is good news that weird down on spx. we come back to a slight green on the screen. could we say crisis over? [laughter] lisa: it seems to be with the markets are saying and the intermediary, fastly, saying it has been fixed -- fixed. lisa: a lifetime buying opportunity, evidently is what we are saying. tom: that is what we are seeing on the different sites coming back on. we will continue to cover this with a bit of digital sobriety. right now, matt mil

i'm ritika gupta. world's largest meat producer will have the vast majority of its plants open today following a cyberattack. jbs says it's systems are coming back online. the cyberattack forced a shutdown of all of jbs's u.s. beef plants, which account for almost 1/4 of american supply. bloomberg has learned a russian link hacking group is responsible. the u.s. and china have taken another step forwards towards restarting trade and economic talks. treasury secretary janet yellen vice premier liu he had what they described as frank discussions in the first call. so far, the biden adminstration has retained much of former president trump's i cannot policies towards china. that includes -- president trump's economic policies towards china. that includes no reduction in existing tariffs. shelley moore capito and the administration have set june 7 as the deadline for a deal. republicans have countered the president's proposal with a $928 billion offer, but the measure taps unused coronavirus funds to pay f

i ritika gupta -- i'm ritika gupta.s is bloomberg. ♪ ♪ >> this upside risk to inflation could go higher than what i want here. we have to be ready on both sides to be able to react to that, to be nimble, just as nimble coming out of the pandemic as we had to be going into the pandemic. jonathan: the loudest voice in the room getting all the attention. that was jim bullard, the st. louis fed bank president. we will catch up with the new york fed bank president this morning. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equities, 40 27 he the s&p. we advanced 0.1 -- 4217 on the s&p. we advanced 0.1 percent. when you are buying a home in america, you might be competing with someone next town over, someone out of state. you might be competing with the likes of blackstone. blackstone group agreeing to buy a company that buys and rents single-family homes in a $6 billion deal. the china investment firm reaching a deal to acquire home partners of america, according

i am ritika gupta.im jong-un says a grave situation stemming from quarantine has created a crisis. he hinted at coronavirus risks that could affect his regime. it is long denied that north korea has had any infections. state run media is not providing any details. north korea has taken a drastic pointing step. a divided u.s. supreme court has refused to lift the federal moratorium on evictions during the pandemic. that will leave the ban in place until the end of july. the vote was 5-4. justices rejected calls by landlords and real estate associations to block the moratorium while their challenge goes forward. the plaintiffs argued that the cdc exceeded its authority by imposing the ban. a big foul up and vote counting for the race for mayor of new york city. the city's board of elections took down previously reported results after mistakenly counting test ballots. that produced about 135,000 dummy ballots, which skewed results. the inaccurate count showed eric adams moving a large part of his lead over

i am ritika gupta.loomberg. ♪ >> i am concerned about inflation overshooting for longer, and i'm also worried we will see a second half of the year where the economy is running hot, and that will have spillover into the global economy. lisa: that was the ubs chair talking about the hopes and fears of faster inflation for banks. faster inflation would be a good thing if it's deepens the yield curve and led them to more profitability. since the end of may the s&p financial sector is down 4.7% on the flattening yield curve. now we have the stress test by the federal reserve. we expect results today at 4:30. jeff hart will be watching that, piper sandler senior analyst for research. what you expect to get out of the stress test today? jeff: i'm expecting it to be much less eventful than in the past. this is the first nonpandemic under the stress capital methodology. we are unlikely to get specific dollar amount from the companies we have got in the past so there will be less information out there, which wil

i'm ritika gupta.he u.s. is approaching 600,000 deaths from covid, even as fatalities, infections, and hospitalizations continue to plummet nationwide. the country is largely reopening. daily deaths have fallen from a peak of more than 5000 in february 2 an average of about 300 over the last week. president biden is in brussels for the nato summit. his presence at the meeting comes as a relief to many, and the leaders will tout a new chapter in trans atlantic relations, according to a draft of the summit communique seen by bloomberg. this is the first nato summit since the presidency of donald trump who questioned nato's utility, sparking concern he could withdraw from the agreement. -- is warning there is very little time left for world powers to revive the 2015 iran nuclear deal. the trade restrictions have all but prevented the islamic republic from exporting oil. the american father-son duo charged with helping former nissan motor chairman carlos ghosn flea trial pleaded guilty in a tokyo court tod

i'm ritika gupta. u.s. and the european union have agreed to a truce in their 17 your dispute over aircraft subsidies 17 year dispute over aircraft subsidies -- their 17 year dispute over aircraft subsidies. policy makers in both the eu and u.s. are concerned over china's state-sponsored aircraft maker, which is on track to become a major player in the industry. the u.k. is set to announce the terms of a free-trade deal with australia today. the agreement is expected to cut tariffs on products like scotch whiskey, clothing and cars. british ministers have been concerned they could be undercut by chief australian meat imports. china is warning nato it won't sit back in the face of an challenges. beijing said that the alliance could not demonstrate military power. the u.s. suggested that allies should take a tougher stance on china. the biden administration is outlining plans for fighting domestic terrorism. the government promised to be better at using existing federal resources. it will also consider w

i'm ritika gupta.hey call themselves the problem solvers caucus. the group of house democrats and republicans has come up with a plan to break the logjam over infrastructure spending. last night they agreed on a total spending package of one point $2 trillion. president biden has called for a $1.7 trillion plan, but yesterday ended talks with republican senator shelley moore capito after they failed to reach an agreement. the senate has overwhelmingly passed a bill to help the u.s. compete with china. it calls for almost $250 billion for manufacturing and technology. still, the bill's fate in the house is uncertain. the u.s. has loosens the travel warnings for dozens of countries, including canada, france and germany. it is a move that could ease airline restrictions for people one to go overseas. the state department changed its warning for dozens of countries -- of countries from do not travel. in the u.k., chancellor of the exchequer rishi sunak is expected to make the case that financial services s

i'm ritika gupta.sident biden will unveil plans aimed at reducing the black-white wealth cap. that will happen today in tulsa, where they will mark the 100th anniversary of a massacre that took place in a black neighborhood. china has taken its most substantial move yet to rein in a surging u.n. -- searching yuan. that effectively reduces the supply of dollars and other currencies, and that puts pressure on the yuan to weaken. tension over iran is set to rise after two confidential reports from the international atomic energy agency. one says iran has continued to stonewall diplomats investigating aids old -- investigating decades-old sites. it comes as iran and global powers negotiate the 2015 nuclear agreement. two big five equity firms are taking cloud era private. they will value it at about $5.3 billion in the all-cash transaction. that would represented 24% premium to the country's previous close. the largest shareholder is activist investor carl icahn. global news 24 hours a day, on air and on b

. ♪ ritika: with the first word news, i'm ritika gupta. the u.s. china have agreed to push forward trade and investment links. that came out on the first call between commerce ministers from the two countries since the start of the biden adminstration. it is still not clear what the u.s. plans to do with the phase one trade deal signed last year or tariffs on chinese goods. the u.s. plans to buy five hundred million doses of pfizer's coronavirus vaccine to share internationally. the word came as president biden prepared to join other group of seven leaders in a campaign to end the pandemic by distributive shots worldwide. the g7 leaders have gathered for their summit in the u.k. g7 leaders are discussing plans to shift the balance of car buying away from gasoline to greener vehicles by the end of the decade. it is part of a package of measures to combat climate change. according to one document seen by bloomberg, governments would "strive to make sure new cast injure -- new passenger car sales are green by 2030." the world's food import bill is exp

i am ritika gupta.his is bloomberg. alix: let's get back to some ism numbers. let's dig beneath the details here. overall, the ism solid. the order index rises, but the inventory index is at a record low and supplier delivery time is the highest, which means the worst, since 1974, and employment misses there too, pointing to may be a top out and expectations. here to break it down, olivia engel. so, olivia, when you look at the data we have seen in the u.s., have we peaked, and do you have to reposition for that? olivia: i think it means that the preference for companies that are undervalued, that are having some improving signs of their earnings picking up, but also being mindful of how risky those companies are, is a really important trifecta to be looking for when picking stocks, so i would be looking to stay away from the expensive, really high risk, or even the highest risk cyclical value stocks and that's how we are thinking about things here. alix: the trade would have been to go deep cyclicals,

i'm ritika gupta..s. says 150 million americans have been vaccinated against covid-19, but cases are rising in several poorly vaccinated states, with more young people being admitted to hospitals. the highly contagious doctor variant first identified in india has been spreading in the south. india gave out more than eight one 6 million vaccine doses in the last 24 hours, a daily record for the nation. new cases in the hard-hit country have dropped to the lowest level since march. however, some experts are warning that a third wave as the economy reopened from lockdown. coronavirus accelerating in south africa. one in four south africans live in the province where johannesburg, the country's biggest city, and peoria, the capital, are located. exxon mobil set to be preparing to cut jobs at its u.s. offices. bloomberg has learned an evaluation system will be used to identify low performers and cut 5% to 10% annually for the next three to five years. netflix has signed with steven spielberg for a multi-yea

i'm ritika gupta.his is bloomberg. >> i do trust the president, and he made very clear in the much larger statement that if the venture structure bill -- if the infrastructure built reaches his desk, he will sign it. at the same time, i recognize that he and his democrat colleagues want more than that. jonathan: that was senator romney speaking to each cnn. -- speaking to cnn. alongside tom keene and lisa abramowicz, i'm jonathan ferro. monday morning with your equity market at all-time highs. we add another two points to the s&p 500 at 4273. outside of that, yields lower by a single basis point to 1.5088%. central bank after central bank coming out this morning and saying the following. this from a member of the governing board over at the swiss national bank. easy policy needed, not ready for the exit. from the central bank of austria, we don't know yet if the emergency is over. emergency is the keyword because they have an asset purchase program with the word emergency in it. the pandemic emergency

i am ritika gupta. this is bloomberg. ♪ >> there is bipartisan support for a significant infrastructure package. there was during the obama administration. there was during the previous administration. it has been challenging to figure out exactly how we can pay for it in a way that is comforting to both sides. jonathan: it has been quiet. that was mitch mcconnell. from new york city, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. coming into tuesday sitting pretty at all-time highs on the s&p, down a single point to 4279. in the bond market, 1.4816. jp morgan sticking with the short. j barry still looking for 1.95 on the tenure. right now some 1.50. tom: the rate market has been quiet. i am waiting for to tell me something. it is not told me much. jonathan: what is it telling you now? not much. what about the idea peak everything is behind us? tom: is a theory. where are you on that? jonathan: clearly a theory not given much weight. here is argument from jp morgan, valuation

i am ritika gupta. this is bloomberg. ♪ >> this process has built my trust and my hope in the partnership with his team and the european union. in terms of my confidence level, it is very high. tom: what you need to know is the score was 98 to zero. her appointment by the senate was unanimous as our trade representative and she had a successful trip from brussels. she went back to london for further negotiations with the united kingdom as well. it is a tough tour of duty, but josh wingrove has been brave and accepted the mission to hang out at the hotel in geneva, switzerland. breakfast on the terrace. we are thrilled that our hard-working white house reporter could join us from one of the most famous hotels in the world. josh, the grandeur of all of this is great, but i could tell as we were coming into this break that you were peckish after a wrong four or five days on the road. how is the president holding up? josh: good morning. it is a true hardship assignment here. i am struggling moment by moment

i'm ritika gupta. this is bloomberg. ♪ ♪ >> right now the system can't hold the amount of cash it has without change, so we left the temporary change we put in place during covid expire, and we are considering whether we need to do more. that would be the reason why. it is just a wholly different situation than the system was calibrated for. jonathan: from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market up three on the s&p 500, advancing almost 0.1%. yields unchanged at 1.5928% on the 10 year. the euro-dollar, $1.29, heading south by 0.2%. crude up by almost 0.9%, $68.30. tom: we going to the jobs day, that economic data, and then into the friday report, widely anticipated. dan morris of bnp paribas talking that up. right now all inflation -- right now on inflation, greg valliere joins us of agf investments. really can't say enough about it yet i want to go back to with -- go back to whip inflation now, and i really don't know if

i'm ritika gupta.s is bloomberg. ♪ ♪ pres. biden: i made it clear to president putin i will continue to raise issues of fundamental human rights because that's what we are. that's who we are. we hold these truths so evident -- truth self-evident. we haven't always lived up to it completely, but we have always widened the arc of commitment and included more people. tom: an extraordinary press conference yesterday. for all of you on radio and tv, the moment yesterday was with david singer of "the new york times" asking a blistering question on a blistering hot day in geneva, and the president of the united states said, "with your permission, i'd like to take off my coat." wendy benjaminson joins us from bloomberg in washington. here's the president literally out of the past so comfortable, he just decided i am go to take off my coat in the middle of a david singer question. this is a throwback to another era, isn't it? wendy: i guess it is a throwback to another era. george bush is also famous for drippi

i'm ritika gupta come alive in the prince of the room -- ritika gupta, live in the principal room.the kkr head of asset allocation. this is bloomberg. ♪ let's check in on the bloomberg first word news. benjamin netanyahu is already plotting a comeback. the israeli leader was voted out of office on sunday, replaced by a shaky government alliance. netanyahu issued a pointed warning in his last moments as prime minister, saying "we'll be back soon." the new coalition will govern with a slim geordie, -- a slim majority, commending 61 votes out of the parliament's 120 seats. in an interview on nbc, vladimir putin said it is becoming farcical when asked about the poisoning of alexi navalny. putin said russia isn't in the habit of assassinations. putin is due to meet president biden in geneva on wednesday. the u.k. won't be coming out of its pandemic lockdown just yet. british prime minister boris johnson expected to announce today that he will not lift england's virus curb for four more weeks. meanwhile, johnson says his nation is doing what it can to help vaccinate the world. pm johnson

i'm ritika gupta.s is bloomberg. ♪ ♪ >> in the fight for voting rights, this vote was the starting gun, not the finish line. make no mistake about it, it will not be the last time that voting rights comes up for a debate in the senate. jonathan: senate majority leader chuck schumer there. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. wednesday morning, here's the price action. 4235 on the s&p, unchanged. euro-dollar, $1.1934, unchanged. 10 year yield unchanged. in the commodity market, you do get some change. wti, $73 24 cents. not much price action off the back of this story. i want to bring up the update for you from our team, first reported by interfax news. russia used bombs and gunfire in warning shots against a british navy destroyer in the boxy, according to the defense ministry in moscow. they go on to say, according to the russians themselves, they allege the ship was three kilometers, two miles into its waters when the is the -- when the incident occurred. the all

i'm ritika gupta.people are flying. the number of airline passengers yesterday rose 12% from the day prior, according to the tsa. the total number of airline passengers in the u.s. was at 2.1 million on sunday, compared with just over 590,000 during the same day last year. the deals during amazon's annual prime day sale is things to rising shipping costs and scarce inventory. the two day event which starts today arrives as the world faces the lingering effects of the pandemic. supply chain disruptions including the suez canal shut down and higher prices have affected costs. that is your latest business flash. guy: thank you very much. i want to take you back to the european parliament, where christine lagarde, the ecb president, is currently speaking. she's making a few interesting comments, basically reiterating what she said before. i don't know if they framed the shot while she was standing up and then she sat down. kind of looks a little bit like that. but it is nice to be able to see at least some

i'm ritika gupta.ational security advisor jake sullivan says the u.s. is working on additional sanctions against russia for the poisoning of opposition leader alexa navalny. president binder -- leader alexi navalny. president biden says he made it clear russia would face consequences if navalny died in prison. the main contenders for next year's french presidential race was fared worse than expected in the country's regional election. marine le pen's national rally was almost 10 points behind her score in the last election, with president macron's party taking 11%. turnout estimated at 80% was at an all-time low -- estimated at 30% was at an all-time low. boris johnson once the uk2 prehung -- the uk2 become a science superpower -- the u.k. to become a science superpower. the tokyo olympics will limit the number of spectators per venue to reduce the risk at the world's guest sporting games -- worlds biggest sporting event turning into a super-spreader. and president biden's administration has rejected v

i'm ritika gupta.arren buffett has resigned as a trustee at the bill and melinda gates foundation as the charity grapples with the upheaval created by the divorce of its founders. buffett says his goals are 100% in sync with those of the foundation. buffett also announced he has reached the halfway mark in giving all of his berkshire hathaway shares to jerry. former -- to charity. former new york police captain eric adams leads the mayoral primaries. andrew yang has dropped out. guardian angel founder has won the republican nomination. the biggest property deal on the less biggest strip in more than a decade opens tomorrow. it features 3500 hotel rooms, celine dion and residency. construction at the site began back in 2007, but was halted by the recession. honda is phasing out sales of gasoline vehicles. honda is set to make a target of 2042 have all electric cars. the automaker also plans to unveil three new electric motorcycles by 2024. global news 24 hours a day, on air and on bloomberg quicktake, p

this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta.ichest governments are under mounting pressure to help poor countries fight climate change at the g7 summit in the u.k. they will get a new chance to do some thing about it. g7 leaders including president biden and german chancellor angela merkel are meeting in cornwall, england through sunday. on the agenda is the discussion of how to help financing shift to cleaner energy and lower income countries. the debate over how to pay for the nations roads, bridges, and transport system continues on capitol hill. disagreement about whether motorists or corporations should foot the bill are threatening to hamper negotiations between president biden and senate republicans pray massive infrastructure plan. i'd and pulled out of one-on-one talks with virginia republican senator shelley moore capito. a prominent harvard medical school professor has resigned from the u.s. mda -- the u.s. fda advisory panel over the decision to approve i/o jen -- to approve biogen's alzheimer's drug, but she called

i'm ritika gupta. this is bloomberg.ll have blackstone as probably the biggest landlord still in the world. obviously huge amounts of expertise and influence in this area, and it is interesting that this is the area they are focusing on, the single family dwellings. that is where it seems the demand is going to be, and you can see it in the states. it is so hugely capacity constrained. alix: in some cases, private equity is pricing out some actual homebuyers. if you are a homebuyer and you want to do by this home, you could come in and rent at, so that is a different type of dynamic then before, particularly what a lot -- with a lot of that on fire right now. guy: it will be interesting to see how that plays politically. it is a positive, i think, and terms of allowing people that option. alix: it is going to be cheaper because you are going to erode some of the value so you can get a deal on that. you still have to afford to get in on the rentals to begin with. guy: it also goes to the labor market as well. you need to

i'm ritika gupta.re of the texas electric grade spark backlash, and now the state is on pace to have as much green power develop and in the coming years as the next three states combined. $20 billion worth, according to the clean energy trade group. after the texas power failure, there was speculation amongst conservatives that frozen wind turbines were to blame. strategists warned that another bad week for bitcoin could be a precursor of more pain. the world's largest cryptocurrency is down about 10% this month to roughly $33,000. bitcoin is worth a little more than half of what it was back in april when it hit that record high. -- operates out of a shut down general motors plant in ohio. that is your latest business flash. alix: thanks so much. let's go more on lordstown now. dave wilson, this is pretty stunning. you are always at a risk with a start up like this, but to come out this soon and say they won't have enough cash for the next 12 months is staggering. dave: may not, that is the key. consid

i'm ritika gupta.. officials are confirming that details of the genetic makeup of -- were removed from a chinese database. the u.s. national institutes of health says that data first admitted to the u.s. archiving march 2020 were requested to be withdrawn by the same researcher three months later. the vietnamese government plans to administer 300,000 to 500,000 covid-19 vaccinations a day in the next six months, according to a post on the government website. the ministries of health and defense are set to be close -- are said to be close to completing warehouses capable of storing vaccines at extremely cold temperatures across the country. a bullish cryptic currency exchange backed by a group of billionaires is inspect merger talks -- is in spac merger talks. an agreement is possible in the next few weeks. the final valuation could change based on the price of bitcoin. john mcafee has been found dead in a spanish prison cell shortly after it was announced he would be extradited to the u.s. to face char

i'm ritika gupta. this is bloomberg.s figure out what is happening in the markets right now. let's talk a little bit about why the stalling bond market could mean that maybe financials are a little overextended. dave wilson is here to tell us all. dave: it is interesting today to see financial stocks among the worst performers out of the 11 main industry groups and the s&p 500 at a time that you are seeing treasury yields fall. that hasn't really been the case the last couple of months, where we have seen that kind of movement, and it is something that david castor over at charles schwab noticed. he focused on the sector strategy for the firm, and pointed out that really, what is going on with financial shares is sort of in contrast to what is going on with treasury yields. the ratio between the s&p 500 index and the broader s&p 500 set a low in april and moved up as much as 9% from their, at a time where if you look at the 10-year treasury yield, which is the other line on the chart, it wasn't really going anywhere. so

i am ritika gupta. alix: thanks so much.15 degrees, many things feel -- anything feels cooler after that. a big rally in marty's. a lot of trait -- in commodities. we are all looking at will this be a super cycle in which commodities will we see. i want to bring in a bloomberg oil strategist. when you take a look at the broad commodities space, there is a lot of money in it. where are we in a super cycle and where are we not? julian: this is the really big question because it all depends on what is driving these price rises. is this just a post-pandemic bounce that is going to be as temporary as the pandemic, the effects of the pandemic itself was last year, or is this through the result of a broader structural change. at the moment we do not know the answer to that. clearly, spending patterns have changed during the pandemic. we have seen this, particularly if you look at spending in the u.s., where because of lockdowns and travel restrictions and the inability to go out to restaurants and movies or go on holiday, we see a

i'm ritika gupta, this is bloomberg. ♪ >> it is vaccination, vaccination, vaccination.y important effort to be able to get vaccines into the arms of people in developing in emerging economies. without that, we won't be able to say that we've overcome the crisis. >> the oecd secretary-general there. good morning. counting you down to the opening bell. in new york, equities up. we advance 4/10 of 1% after slim months of gains. your yield is higher by two basis points. fx market euro-dollar unchanged. crude at 68 and wti up. tom: on the way up i look at brent and on the way down a look at west texas intermediate. $70.64 on brent crude. right now, let us wander out to 2025 or maybe out to 2030. what is so important here is people like dr. adele joe -- wander out into parts of china looking at bat research and how would ling cindy people research and what it means for the future of covid. out for years or five years, do you just assume there will be more covid's? >> we definitely have to assume there will be more covid's. we know the coronavirus family has many different vir

i ritika gupta.s is bloomberg. ♪ this is bloomberg. ♪ ♪ >> in the relationship in trade that's been marked by significant in balance, i would say there are parts of this trade relationship that are unhealthy and have over time been damaging in some very important ways to the u.s. economy. tom: the u.s. trade representative there, moving the dialogue forward. we welcome all of you to "bloomberg surveillance." massive correction in order right now. i was back 20, 30 years with yuri and temer. we must correct the new fidelity manse up by the gillette factory . thank you for commenting. it is farther from fenway park. that's all you've got to know. lisa: serious correction this morning. tom: romaine bostick, thrilled you are with us this morning. jon ferro is off. right now on apple, and a controversial call, pierre ferragu is at state street research. a lot of people are more optimistic. you really push against the optimism on apple. why? pierre: it is really the question of the flipside of apple's succ

i'm ritika gupta.resident biden wrote out plans directed at reducing the black-white wealth gap. he will unveil those today. president biden is expected to offer proposals aimed at boosting homeownership and helping minorities own small businesses. china is taking the biggest step yet to rein in a surging yuan. it effectively reduces its supply of dollars in other currencies on shore, and puts pressure on the you to begin. two -- iran says it hopes they 2015 nuclear deal can be revised by august, before -- two big private equity firms are taking cloudera private. they will value cloudera at about $5.3 billion in the all-cash transaction. that would represent a 24 percent premium to its close. the activist investor is carl icahn. 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. ♪ >> there's a strong recovery of oil demand in china, europe, and elsewhere. if the oil producers,

i'm ritika gupta. for months, fed officials said price increases are temporary and now they do not seem so sure. they expect to make two increases to interest rates in 2023, surprising financial markets. jerome powell said there's a risk inflation would be higher than the central bank thinks. a bipartisan deal on u.s. infrastructure, and it is improving. at 20 structures -- 20 democrats including republicans have signed on for the package. that is the biggest in decades, though a lot less than what biden wants. it also includes a plan to index the gasoline tax to inflation. executives are also arrested. they are accused of breaches at this we mean national security laws. jimmy lines is already in prison , pretending unauthorized protests. the securities and exchange commission has delayed a ruling on a bitcoin etf. regulators said it would seek more public comments on a proposal to lift a product on the global market. a bitcoin etf could catapult the world's largest digital token into the mainstream am

i'm ritika gupta.is running out as president biden beach today with the top senate three publican negotiator on infrastructure -- president biden meets today with the top senate republican negotiator on infrastructure, shelley moore capito. the republicans have countered the president's proposal with a $928 billion offer, but the measure taps unused coronavirus funds to pay for it. that may make it unworkable to democrats. the world's largest meat producer will have the vast majority of its plants opened today following a cyberattack. jbs says it's systems are coming back online. according to a union official, the cyberattacks forced a shutdown of all jbs' u.s. beef plants, which account for almost 1/4 of u.s. supply. in israel, health officials have found a probable link between the pfizer and biontech vaccine and dozens of cases of heart inflammation in young men. the health ministry said the cases of myocarditis occurred following the second dose. pfizer says the -- says there is no indication the c

. ♪ ritika: with the first word news, i'm ritika gupta. u.s.strikes on militias in syria and iraq have come at a delicate time. the pentagon says the raid was aimed at deterring future iranian interest in iraq. the new president is someone who has been said to take a hard line against the u.s.. meanwhile, negotiations for the deal have dragged beyond initial timetables. there was concern the deal could fall apart when the president linked it to a large tax and spending bill that republicans opposed, but the presidents walked back his remarks saturday. republican senator rob portman says work on the bipartisan bill can move forward. the last and only foreign scientist wuhan lob is speaking out to bloomberg. danielle anderson was working at what has become the world's most tory's lab just weeks before the -- most notorious lab just weeks before the first cases of covid arrived. >> so nothing strange from my point of view going on at that went that would make it seem a there were things going on here. ritika: there has been speculation that the co

i'm ritika gupta..s. treasury secretary janet yellen says higher interest rates would be a plus for the u.s. and the federal reserve. president biden should push ahead with his $4 trillion spending plan, even if it triggers inflation. she says any spurt in prices should result from the rescue package and fadeaway next year. some of the world's biggest tech companies are welcoming the g7 agreement on a minimum corporate tax rate of 15%. facebook says it is a first step towards certainty for businesses. amazon says the protest will lead to stability in the tax system. but it may not be implement it for years. google will pay 206 t $8 million to settle an antitrust investigation and france, and it has agreed to change the way its business works across the world. france says google used its dominance over ad sales and purchasing on its platform to distort the market, hurting rivals such as rupert murdoch's news corpo -- corporation. according to dow jones, blackstone group has agreed to buy data center ope

i am ritika gupta. this is bloomberg. ♪ >> there is trillions of dollars of assets under management calling for greater and consistent disclosure around climate risk. i have asked staff to take up disclosures around human capital , the most important asset of a company, the people that work there. jonathan: a lot of work to do at the sbc. from new york city this morning, good morning. alongside lisa abramowicz and taylor riggs. 42 .52 on the s&p 500. a nice lift this morning. we are about two hours and 12 minutes away from data in america. the euro-dollar up a little more than 10%. yields approaching 150. yields up almost one basis point. this bond market, not disturbed by what is happening in d.c. not on the monetary policy side, but on the debt limit. coming out swinging in the last 24 hours. failing to increase the debt limit would have catastrophic economic consequences. yellen went on to say it would facilitate a crisis and at a time when we are still recovering from the covid pandemic. lisa: it se

i am ritika gupta. this is bloomberg.d about the offensive from china at one it comes to cryptocurrency. coming from europe, definitely coming from the united states. it is a conversation that is going to take a turn. europe will be talking about the additional euro. christine lagarde -- they will talk about it. central banks do not want to give up control of this process. why with the country want to give up control of money? it seems like a crazy thing to do. alix: isn't that bastille day? there's something to say about bastille day. ray: -- alix: that is a stretch. that is what we do. it seems similar to what is happening with the carbon price or any sort of co2 emissions. they are like please give us regulations because if we do not do it now the results will be so bad for the companies and individuals. i feel like to do something similar with crypto. do it now before everything gets thrown out with the bathwater. guy: if you look at china, the bathwater is being thrown out. alix: totally. they can also do that. guy:

i am ritika gupta.urism -- france's tourism sector is taking another step towards normality with the reopening of disneyland paris. visitors must wear masks and other measures are in place including a cap on visitor numbers. french tourism is hoping for a boost from the reopening. in germany the head of angela merkel's party welcomes president biden trips to europe. in an interview with bloomberg webquest -- with bloomberg webcast, they said the problems can only be solved with a multilateral approach. >> we do not want to enter into a debt union in europe. we do not know what the economic situation will be in 2025. under in normal circumstances, such a plan -- ritika: he is bidding to succeed angela merkel after september selections. jp morgan has agreed to abide not make savings and investment as part of the planned launch of a mobile banking service. nutmeg has 140,000 customers. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in ov

i'm rick a this is bloomberg -- i'm ritika gupta.his is bloomberg. ♪ >> what we are not going to get in june is more clarity about the balance sheet. i think they are going to tell us they are talking about it, but also tell us it is too soon to lay out the parameters of what they do in terms of tapering and balance sheet movements more generally. tom: bruce kaz meant, jp morgan -- bruce kasman, jp morgan, their chief economist. we welcome all of you this morning. romaine bostick and for jon ferro. lisa abramowicz and john key -- bostick in for jon ferro. lisa abramowicz and tom keene. jack fitzpatrick joins from bloomberg government. buried in the news flow is the basic idea of how the democrats regroup. how do the democrats regroup? jack: on infrastructure and on their big legislative priorities right now, it is unclear what their path forward is. there is still an attempt for president biden to work something out with senate republicans directly, and there's going to be a meeting with senator capito today, although senator capito

i am but a good gouda. -- ritika gupta.his is bloomberg. ♪ >> this agreement represents the largest investment in public transit in american history. we will do it all without raising a cent from earners below $400,000. i expect in the coming months this summer before the fiscal year is over we will have voted on this bill, as well as the info structure built, and voted on the budget resolution. jonathan: the president on then agreement data washington, d.c. good morning. tom keene back on monday. lisa abramowicz, taylor riggs. i am jonathan ferro. futures right now at 4260. yields unchanged. the phrase of the morning, they well-behaved upon market. euro stronger. data at a europe pity descent. pmi is better than expected. euro-dollar approaching 120 again. a stock mover this morning goes to virgin galactic. spce. 11% higher on my terminal right now and the premarket. virgin galactic getting the faa approval taylor to fly customers into space. taylor: maybe as soon as the summer. of you are us to report live from air on spa

ritika: with the first word news, i'm ritika gupta.t least four people are now confirmed dead and that collapse of a condo tower in the miami area. crews are coming through the debris and with more than 150 people still missing officials in florida for her the death will rise. no word yet -- in florida fear the death toll will rise stop record show at least one -- we are learning more about the biden administration plans to sell oil reserves to pay for the bipartisan infrastructure plan. energy secretary jennifer granholm spoke with bloomberg television this morning. >> not selling off all of the strategic petroleum reserves. it will be a limited sale to be able to meet the goal, the president's goal was he did not want any of these pay for's to raise taxes on those earning under $400,000. this is one of several elements. it is limited sale. ritika: the bipartisan $579 billion infrastructure deal faces a complicated path in congress. president biden told reporters he expects democrats to push through an even larger bill, but many conse