alongside tom keene and lisa abramowicz, i'm jonathan ferro. k, we will see the data behind the boom. tom: an incredibly important moment for a guy who is

lisa: tom keene took the day off after the red sox to lose.lost, he took the day off, and now he is thinking about investing some of his cash in the red sox. we are seeing a lot of interesting accounting mechanisms. it fueled the first quarter capital market earnings, especially the winnings for the big banks. how much does that draw your concern and terms of the fragility of this confidence? things are getting frothy on the margins. christopher: just when you think things are frothy, they get frothy or. we have seen these back market cool off considerably -- the spac market cool off considerably. that is going to drive a lot of feeds. we think the underpinnings of an m&a are the -- of a m&a are there. that is any opportunity to benefit from the advisors by finding targets that are going to get takeover. jonathan: always good to catch up. christopher marangi there. i note, is going to miss this conversation. can you imagine how messy that could have been in terms of sports? lisa: brutal. jonathan: let's talk about the risk in this market. the

alongside a fired up tom keene, lisa abramowicz, jonathan ferro. your bond market biz resumes. tom: what does newcastle do? jon: maybe they win the league, tom. from new york, this is bloomberg. ♪ for to kick a a warning for rush -- ritika: a warning for russia that they will be consequences if opposition leader alexei navalny dies. his allies say he's in critical condition and may die within days. he survived an assassination attempt and is in the third week of a hunger strike. he has been moved to a hospital. in minneapolis, closing arguments set for today in the murder trial of derek chauvin, the white former police officer who was accused of killing a black man, george floyd. the killing of another black man by police in a minneapolis suburb has increased the potential for violent protests. the ceo of gamestop is stepping down. he will leave by july 31. in a short squeeze to hedge created. china says it has no desire to topple the dollar as the world's and reserve currency, as beijing takes the biggest debt increase in taking on the one -- the yuan. this could be the biggest

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. a simulcast, bloomberg radio, bloomberg television across this nation, and in north carolina as well. this week, the fed. this week, the present. this week -- the president. this week, earnings out. jonathan: a press willie from apple, the amount of investment we will see in the country from apple, but the headline is taxes and the press release. apple pointing out they are the largest taxpayer in the united states. there's a big reason for that statement in that press release. tom: it is a precursor to what we will see from earnings. huge revenue gains and a dominance over other sectors of the market. an open question on a tumultuous week, with your reading over the weekend. what are you observing through this week? jonathan: the conversation has changed. at the start of the year we are talking about pure deficit spending. now we are talking about capital gains. it is a very different conversation, and when the emphasis shifts, the change of emphasis, you

alongside tom keene and lisa abramowicz, i'm jonathan ferro.ater this week, we will see the data behind the boom. tom: an incredibly important moment for a guy who is usually really cautious and reticent. if we are like david kotok, it is loaded the boat monday. -- it is a load the boat monday. jonathan: a huge rip off the gains behind the vaccination news and the headlines we have seen over the last six months. it gets better and better. retail sales in america thursday, i mentioned bank of america earlier this morning, looking for 11.5%. then we actually start to see the numbers, two point 5%. many expect year on year for a cpi figure later this morning. tom: there's a study within the core academics, but one of the data points this morning, 41.1 two on spx futures. -- 41 12 on spx -- 4112 on spx futures. jonathan: here yar in the first quarter, it fears like -- it feels like year-end already. tom: the red sox are in first place. that is going to end at some point. jonathan: unfortunately, you can't end the season right now. the year starts f

tom keene back on monday.

lisa: this is for tom keene. why didn't they do a stock split? tom: for tom keene.owed the internet long enough to remember that in the late 1990's all you had to do was a stock split for the stock to go higher. i am not 100% sure, clearly it is overdue. lisa: clearly it is overdue. tom forte. maybe they're just waiting for tom keene to come back from his sabbatical on monday in order to do their stock split. tom forte, da davidson senior research analyst. amazon, the juggernaut of the pre-pandemic and the post pandemic economy as it posted another $100 billion plus quarter of revenue. what a day of data. unbelievable personal income. the most ever the increase has come out going back to 1946. 21% gain in personal income. coming up, look at some of the oil majors. chevron's chief financial officer will be joining bloomberg television talking about the increase in dividends and the incredible revenues on the heels of higher oil prices. from new york, this is "bloomberg surveillance." ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drug

alongside tom keene and lisa abramowicz, i'm jonathan ferro. go on, tom. tom: the duke of cambridge came out against it, and so did boy george. come on. lisa: that really sways jon's opinion. jonathan: 1.5924%. he's also a villa fan. tom: i knew that. jonathan: i actually watched villa/tots with him next to me along long time ago. from new york city -- why are we doing this? [laughter] tom: you know, baseball, football. jonathan: this is bloomberg sports. [laughter] ritika: with the first word news, i'm ritika gupta. in minneapolis, the jury resumes deliberations today in the murder trial of derek chauvin, the white former police officer accused of killing a black man, george floyd. in closing arguments, chauvin's lawyer said the video does not show he'd violated department policy and training. president xi jinping called for greater global economic integration and urged the u.s. and allies to avoid "bossing others around." he did not mention the u.s. by name, but said one country should not set all the rules. in germany, a potentially damaging contest wit

tom keene, you have lived and breathed this since a child. your take? tom: i tell you, you can barely get through it. never the same to give people a war story. i faked i was sick like in the movies when john glenn went around the are three times. this is a triumph for elon musk. it is not about the tesla's that took faster not to the launchpad, it is about the technology. the greatest underestimation we have of this mission is we are all living a ron howard movie from years ago, whether it is toggle switches of apollo 13, the triumph of apollo 11. the technology here is extraordinary. i can't emphasize enough that ludlow brilliantly outlined there, complexities and better equipment top to bottom of this expedition. as the crew goes up, another goes down. of course it is an international crew. the kernel is leading this crew with megan macarthur and a gentleman from europe, a gentleman from japan, who will go up for six months. i get the mars talk, but it is just the sheer quality of the equipment, the hardware, that to me is stunning. jon: you mentioned

who thought this is where we would be, talking about a 60th birthday for ken with tom keene? sa: i'm just going to hope that's transitory. jonathan: it's not. it's permanent. [laughter] tom: in honor of the astronauts, tang today. lisa: i will say this, just talking about earnings. there's been a really interesting development, in my opinion. you have seen really good earnings on average. some misses, but honestly, for the most part it's been great, and the response in markets has been meh, what have you got for us next time. that's been fascinating. what is driving the market action we have seen recently? but is frankly, the data has justified what we have seen. jonathan: i agree, it is captured by the bond market. your bond market on tens, 1.5454%. this is the third week of gains for treasuries. the third week of yields moving lower over the week. euro-dollar, $1.2053, up about 0.3%. equity futures, 4136 on the s&p. we are up 9, 0 .2%. lisa: i could try to make this less serious and talk about ken's birthday for the next 30 seconds, but instead, we are getting ego manufactur

that we got there. >> it is really following the wrong model. >> this is bloomberg surveillance tom keene ferro, and lisa abramovitz. tom:

alongside tom keene and lisa abramowicz, i'm jonathan ferro.quity futures up about 0.1%. a ton of earnings through the next 24 hours. apple after the close. a presidential address in front of congress. a federal reserve decision i've hardly heard anybody discussed so far this morning. tom: i agree, it is off the radar. maybe that is a mistake. the press conference could be interesting, to say the least. on the way to june 15 -- to june 16, maybe that is an important fed day. our guest coming up says that is the day in 20 21, the reason to stay with us. jonathan: i thought they were deemphasizing forecast based monetary policy. where they really waiting for june, or do they go to jackson hole? tom: all you need to know is the are raising it up. this boom economy, they are raising it up. how far out do you extend that? the forecasts are a mystery. jonathan: we will catch up with torsten slok a little later this morning. companies not offering guidance for this year. last year it was because the economy is so bad. this year, the economy is so good

alongside tom keene and lisa abramowicz, i'm jonathan ferro. futures up nicely on the s&p. the s&p 500 advancing 0.5%. a big number expect a little bit later this morning. tom: it is the way there is green on the screen with the equity markets, truly across the board, and frankly, i very traditional format. maybe that is the banks leading the way off of what we saw with america. the vix isn't giving me that market. the vix at 16.85 is feeling like under 16, maybe we will see that as we move to citigroup and beyond. jonathan: before we get there, we need to discuss the federal reserve and how that recalibrate over the next couple of meetings. tom: really glad you brought this up. it is like we are zoned in together. we will talk to mark howard about this. pros don't look to the next fed meeting. they came out the meetings afterwards. mr. howard and others are focused not on april, but on june 16. jonathan: for good reason, lisa. in june we get the forecasts. lisa: perhaps they will give us more insight, although jay powell is saying guys pay way

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. m: good morning, everyone. the earnings season has begun. we welcome all of you on radio, on television as well. jon ferro, it is a boom economy, and we are seeing boom earnings. jonathan: we are seeing boom numbers out of the investment banks. let's talk about where we see similarities between the likes of wells fargo and jp morgan. from jamie dimon, he talks about loan growth being challenged. for the year ahead, what does that mean? does banks have that in common. i imagine the whole sector. -- those banks have that uncommon. i imagine the whole sector does. we face a boom economy in america. tom: in the real yield at -0.70%. forget how odd it is to work in the millieu of a negative inflation yield. jonathan: these banks had a lovely right off the back of hide yields and steeper curves. i wonder what that means for the market. i want to touch on this. execution. but goldman sachs just did in the first quarter was just brilliant execution, far better than many people expected. let's

tom keene is back on monday.erg surveillance ." ♪ ritika: with the first word news, i'm ritika gupta. in israel, a stampede at a jewish religious festival earlier today killed at least 44 people and left 150 hospitalized. it is one of the deadliest civilian disasters in israel's history. the crowd was estimated at 100,000 people, mostly ultra-orthodox jews. astrazeneca will ask the u.s. for emergency authorization of its coronavirus vaccine after it missed an original target. u.s. citizens may not see the astra vaccine in clinic than the near term. the u.s. announced it would share its entire supply of the vaccine with other countries. in florida, republicans in the legislature have voted to impose a number of restrictions on voting. that adds to the national push by republican lawmakers to make it more difficult to vote. florida has been a crucial battleground state. donald trump won the state by more than 3% in november. nestle is expanding in a segment of the company under the five-year watch of ceo mark schne

tom keene at home for a long weekend.p 500, futures up five points on the day and up a little more than 0.1%. all-time highs at the close thursday's session. 1.5517% on tens. euro-dollar higher, $1.1989. stock story of the last 30 minutes, morgan stanley. that stuck down by a little more than 1% after a really tidy year-to-date gain. the story a familiar one. investment banking really decent on the trading side of the business. ficc sales and trading revenue. sales trading in revenue at the equity side of the business, $2.88 billion. the estimate, 2.6 billion dollars. what got a lot of people's attention was a clarity on a number, $911 million loss tied to archegos capital. lisa: it also raises the question of price to perfection. the fact that we are questioning a $911 million loss when they doubled profit, beat expectations, put out a really stellar earnings report. their shares are down in premarket trading. people are focusing on the archegos loss. the idea is we are looking for perfection and looking for any holes in

>> this is "bloomberg surveillance" alongside tom keene and lisa abramowicz. jon: good morning. this is "bloomberg surveillance." i'm jonathan ferro. equity futures totally unchanged. dreaming a reopening is easier than actually doing it. execution risk is front and center. tom: you're going to talk tesla and microsoft again today. it really is a boom economy. palladium out to a record high. some of these commodities go away. we are on 10,000 watch on copper. there is some interesting supply-demand constraints within this boom economy. jonathan: demand is good. can supply meet it? it could be a big issue for auto manufacturers. this will be the story for the weeks and months to come. a lot of people focused on that. can we meet those expectations with supply? tom: we are going to see commodities pop into the inflation watch. what i would say is on a tuesday, it is a stew of information. we are trying to get some clarity. jonathan: here is some clarity from ubs, the estimate is 173. it is one more bead in a big line of beads. lisa: markets are shrugging off all of those. the fact

jonathan: from new york city, alongside tom keene and lisa abramowicz, i'm jonathan ferro. s to go. coming up, mike wilson, morgan stanley chief u.s. equity strategist. lisa: until what? jonathan: this is my personal account. [laughter] tom: the city is cold and empty. no one is around to judge me. jonathan: that's a good song, isn't it? that's what i was up for, you singing. equities up on the nasdaq. this is bloomberg. ♪ want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system for just four easy payments of $19.95. and if you order today, we'll also include free shipping.

i just need a tom keene machine. tom: go to cash. jonathan: was that me or tom live? no one will ever know. 40 16 on the s&p. this is "bloomberg." ♪ >> the baidu administration is poised to impose sanctions on russia. -- the biden administration is poised to impose sanctions on russia. the move could be announced today in a phone call with vladimir putin. president biden ward the u.s. would defend its interest. fed chair jerome powell says probably will scale back the bond purchases considering whether to raise interest rates. in virtual event in washington, sketched out the fence and sued strategy -- the fed's exit strategy. he was regulators have extended the pause on the use of the johnson & johnson coronavirus vaccine. they concluded the meeting without a foot on the issue and will seek more data on a rare blood clotting side effect. jp morgan launching a multitrillion dollar green initiative. the bank has set a 2.5 trillion dollars in projects that combat climate change in advance sustainable development over the next 10 years including $1 trillion of financing f

knowing my luck now, there will be a stock split later this week just for tom keene. e committing $430 billion in u.s. investment over the next five years, adding 20,000 new jobs. tom: what is so important here, it is very lengthy, basically they speak like a government. what do you do when you're building a submarine or an aircraft carrier? you put the suppliers in 38 of the 50 states. that is pretty much what apple is doing. they are spreading out $500 billion over the 50 states, and the get state after state. i happen to be looking at texas, and the ability to grow out there. but there's many other cities and states as well. jonathan: tim cook will saying at this moment of recovery and rebuilding, apple is redoubling on the commitment to u.s. innovation and manufacturing across all 50 states. much more still to come on the story and the latest in bitcoin, with a big rally this monday. troy gayeski of skybridge joining us in about 20 minutes. equity futures down 0.1%. from new york, this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. more on but

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. a simulcast, good morning, on bloomberg radio across this nation and around the world, and on bloomberg television. a sight to behold, jon ferro with us after a vaccination. lisa abramowicz sometime today with a vaccination. within all of that is the good news on the pandemic and so much of the world, with the rest of the world really struggling. the philippines, india, and in this show, tokyo has gone on some form of shutdown. jonathan: we spent much of the year so far talking about divergence between the united states and other parts of the world, and to some degree, divergence -- and to some degree , convergence between perhaps europe and the u.s. tom: you see it within the battle over yield and over the earnings that have come out, use of cash. just one example of use of cash, this train more fear in the midwest of the united states -- this train warfare in the united states. jonathan: then we've got the capital return program at procter & gamble that m

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. m: good morning, everyone. jonathan ferro, lisa abramowicz, and tom keene. a simulcast, bloomberg radio, bloomberg television. we have not talked enough about this, near one million payrolls and claims maybe will confirm that trend today. jonathan: and job openings skyhigh in america today. i know lisa wants to talk about may be a labor shortage in the months to come. all-time highs on the s&p 500, and it is a nasdaq come back. nasdaq 100 futures up about 0.8%. tom: that is a bull market. we saw this from james dimon yesterday. i want to go to the reading right now, which is the zeitgeist about this year and maybe the zeitgeist out next year, and we are beginning to hear of a boom that could extend beyond two quarters. jonathan: that is a change. i'm totally with you. tom: that's rare. jonathan: people are talking about it a little more over the last month. the jamie dimon piece i think covered what has already been covered to thousand times over the last couple of months, with the exc

alongside tom keene and lisa abramowicz, i'm jonathan ferro.quities with a lift in the last 10 minutes, up zero point 1% on the s&p 500. it is a pause in this market that has got everybody's attention, at least in the last couple of days, with that move in small caps lower. tom: there's been an adjustment. i'm going to go to david k ostin. i love his idea that it is a micro market of micro news. jonathan: at the epicenter of that, a bond market that is off the highs of the close last month. right now, 1.57%. we are taking a pause. tom: i don't know where to say the limit is, 1.62% or 1.60%, but we are certainly to a lower yield higher bond price. that is not migrating towards higher inflation, better real yield space. jonathan: on one side, you got the pause crowd. on the other side, the reopening crowd. lisa: when you got that treasury rally, there are technical underpinnings. there was a huge rash of bond sales for the biggest banks. there was perhaps this short squeezing. is that driving the narrative? what does the bond market know that we

alongside tom keene, i'm jon ferro. lisa abramowicz back with us on monday. ight now, tina ford and with us. it is can -- tina fordham with us. it is constrained because of our conversation with the vice chairman. we go into this weekend with instabilities in europe, including in eastern ukraine, including here, including their. it is an uneasy time that i would suggest has been underreported. why do we need to focus on the international relations of europe this weekend? tina: there is so much good news, and i have been watching the program this morning. so much genuine basis for the enthusiasm about outperformance, forecasts upgraded, but also an excellent time for opportunists to take advantage of governments staying distracted elsewhere. demobilizing in eastern ukraine is where -- israel. there are so many things happening that would have been front of mine that i would be talking to you -- front of mind that i would be talking to you about regularly that are getting swept under the rug because frankly, we are coming out of this pandemic tunnel. but as you

jonathan ferro and tom keene. lisa abramowicz is off today. minutes, richard clarida will be with us. prince philip is dead at 99. our kevin cirilli joins us now from washington. i want you to reaffirm president biden's approach with the united kingdom as he reaches out to our allies. prince philip was someone who walked one step behind the queen, even as president trump tried to walk one step before on one of the visits to london. what will be this relationship with a new united kingdom? kevin: it is a special relationship, but this is an opportunity for president biden, as well as his administration and the u.s. congress collectively, to really underscore just how special that relationship is. for a host of different reasons, and i would anticipate that some top, high-profile members of the administration, potentially even the president himself on the first lady, would be attending some of the services, although i don't want to get ahead of ourselves because we don't have any confirmation of that. secondly, this comes at a crucial point not

tom keene on vacation today. let's get you the price action.ies doing better than good over the past six months or so. up another nine points on the s&p 500, 0.2%. in the bond market, yields come into 1.5587%. on euro-dollar, $1.1985. just to talk about new york briefly, have you tried to get a restaurant reservation over the weekend? it is almost impossible. lisa: are you going inside? jonathan: i've been inside a couple of times. lisa: honestly, if you look at the streets, you can feel it coming back. you can feel people trying to get back to normal, but doesn't feel the same. i feel like it is visiting a former life that has been put through the twilight zone. jonathan: you've got to reclaim your former life, lisa. lisa: oh yeah? jonathan: stop waiting to be told we can to get back. lisa: keep going. jonathan: i'm not going to do it. [laughter] let's talk about the airlines. we can do that with helane becker, cowen senior research analyst. we've got the business world, international travel, and leisure, and they all look different. can you w

household -- the keene household. tomthink this is keene would look awfully good with one of the imacs. what color should she get? jonathan: from new york city this morning, good morning. tom keene gripping both lisa and i. [laughter] tom: you guys are brave. i would have taken the week off. . (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jee

tom keene fired up this morning. yield unchanged at 156. just a little bit of euro strength going into the ecb meeting later this morning. lisa: a lot of uncertainty. we get that ecb rate decision followed at 8:30 eastern time by christine lagarde's press conference. the key question will be after june, what happens? will the ecb continue after june? how much inflation will they tolerate? and what bonds will they be buying? these are all some of the questions that christine lagarde will be facing amid a rather -- i one is a split, but you hear different things from different arms of the ecb body, which perhaps is a bit of a problem. president biden is going to kick off this climate summit that is being held virtually. we already talked about the idea that the u.s. is going to be aiming to cut their emissions in half by the end of 2030. key question is, how much momentum can he generate and how much credibility can he engender given what kind of financing the u.s. can promise behind this. i wonder at this point whether this is even useful da

alongside tom keene and lisa abramowicz, i'm jonathan ferro.er two straight days of losses, we are down another two points on the s&p 500. into the bond market we go. 1.5714. the euro -2/10 of 1%. crude down a little more than one full percentage point as well. wti at 61.97. tom: governor carney joining us later. climate change and monetary policy. right now we digress. for international audience in particular we get a bit of a window into minneapolis. emily wilkins joins us. i thought peter cahill, of the judge yesterday was extraordinary when i look back on other cases where a nation stopped to listen to the verdict , it's happened a few times in my life. we all remember the moment of oj years and years ago. how does washington move forward. the president and vice president made appropriate comments yesterday but how do the politics of washington move forward after this verdict? emily: there are a lot of lawmakers in d.c., particularly progressives, who see this is one step in what -- in more that needs to be done. congresswoman causey of cor

alongside tom keene, lisa abramowicz, i'm jonathan ferro. equity market, all-time highs into thursday's session. tom: it is the way we are up, but it is the way we have been at the last couple of days. there has been a seismic shift to the nasdaq leadership. the key for using the bloomberg terminal every afternoon to some that up. if you look at the ratios, it is simple. we are back to mastec leadership. jonathan: nasdaq looking good right now. apple up almost 10% from the lows of a month ago. i just wonder, how connected that is to the stability we have seen in the treasury market. your 10 year in and around 65. tom: underreported, and gabriella santos will address this, the u.s. getting the imf outlook. china with an 8% statistic. is it a boom economy in china? maybe not, but it is a very good economy and that is where you get the tech thing going. jonathan: looking forward to that conversation. also talking about the politics of the u.s.-china relationship and the lack of the ability to unite the parties in d.c. with china a focal point ar

alongside tom keene and lisa abramowicz, i'm jonathan ferro.he headline dropping a class -- dropping across the bloomberg terminal, the united states to call for a pause on the j&j vaccine after clotting cases. this coming from "the new york times" in the last minute or so. a quick look at the price action off the back of that headline, equities are lower. a mild move on the s&p 500, down by about 0.2% so far. as we take in the reporting, and i will repeat that, the united states to call for a pause on the j&j vaccine after clotting cases, that is according to "the new york times." tom: we will see it from everybody today. another headline coming out of the joint cdc and fda statement on this. what i would go to is whether it is this or astrazeneca or everything else, it is a measure, and i don't want to editorialize here, of statistical perfection. as the pros we talked to well know, there are standard ranges. errors are allowed, but how much? jonathan: i think we need the official response from the administration. the cdc to convene a meeting

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. a simulcast, bloomberg radio, bloomberg television. a simulcast of stock upgrades. google up, apple up. maybe tomorrow morning, amazon up as well. it is the good news of big tech overlaid upon the good news of the distinguished mayor of new york city. jonathan: the bulls on the south side get more bullish. goldman upgrading their rating from sell to neutral on apple. the original view of a downside to the iphone in the midst of covid was clearly wrong. i'm with you, the news that crosses from the mayor of new york city, mr. bill de blasio on ms and bc, saying that new york city willfully -- on msnbc, saying that new york city will fully reopen on july 1. unclear what that means. things are getting back to business. tom: you mentioned it earlier as you interpolated the vaccine news in germany. i'm sorry, it is a bundle of worldwide good news. jonathan: a record day of vaccinations in germany north of one million. anything north of one million is the equivale

alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures positive a little more than 0.1%. better revenue growth through the year ahead. that is the obvious story. it means higher costs. tom: the famed bloomberg headline service has just a wall of earnings coming on at 7:00 wall street time. just hundreds and hundreds of headlines. to me, the margins are there. earnings are there. but it is a real story corporation to sector on revenue growth. what is it now, and what will it be? jonathan: and what will the high costs due to the margins on some of these companies' balance sheets? the number of mentions of inflations during earnings calls have risen sharply, more than tripling year on year, the biggest jump in our history since 2004. that is the theme so far of q1. tom: archer daniels midland, they expect significant revenue growth. but then you look at the revenue mix forward, and with verrone coming up, this huge mystery of q3 and q4. jonathan: the mystery of that deceleration, that is what we need to start getting our heads

alongside tom keene, lisa abramowicz, i'm jonathan ferro.ion looks like this on the s&p 500. equity futures up three points. yields higher by a couple of basis points. euro-dollar in 2/10 of 1%. 1.2067. let's talk about reaction of people yesterday from that address from the president. it's not the marketing material i think vaccinated america probably required yesterday. if you get vaccinated you don't have to wear a mask outdoors. i'm not sure that gets it done. tom: about three hours before the announcement i looked at the embargoed copy and went really? lauren sauer joins us. this goes back to the giant frank ramsey in the 1930's, the advent of game theory through world war ii and prisoners dilemma by the rand corporation in 1950. we are back to the game theory of how we get out of this pandemic. are we doing a prisoners dilemma with masks or will it be a game of chicken? lauren: i think we will have to wait and see on that one. i do agree with you. we would've liked to have seen stronger guidance, a little more opening from the cdc. may

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. m: good morning, everyone. on radio, on television, beginning of the second quarter. no april fools, green on the screen. markets up big. the market boats off what president biden said. the nasdaq up over 1%. jonathan: nasdaq 100 futures come of the story of the session, not the story of the quarter. massive outperformance on the banks, on energy. we have seen enough of this reopening trade before we actually see the data in q2. tom: we are going to recalibrate on that. mike wilson will build us of morgan stanley -- will join us of morgan stanley in a moment. tom orlik at global economics for bloomberg has got a boom global economy off of a boom american economy. jonathan: i will let the market talk for me. the dollar index last month, best month since november 2016. why? because growth in america is looking so much better to what we see out of, say, europe. how does that change for q2, q3? that is the big unknown. the bar is pretty high. tom: lisa, you have had the courage to get out

tom: domino's pizza, same-store sales up 13.4%. we are making our contributions at the keenehold. jonathan: are you? i do not believe you. tom: i'm not. [laughter] it just wanders by me and disappears into bedrooms. lisa: wondering pizza. -- wandering pizza. tom: exactly. well said. jonathan: i once met tom for a drink at the carlisle. i forget what time it was. tom: late. [laughter] jonathan: i bring some friends with me who were in town for the weekend. isaac it was around the election in 2016. tom asked the barman to get some food for mr. ferro. he comes out with some warm cookies to have a snack in the middle of the night with a hard drink. that is what tom does at the bar. tom: to you, it's timothy. jonathan: ok, timothy. lisa: just eat the cookies. tom: he takes off all of february. jonathan: i wish i was you sometimes. tom: there we are. we say good morning to all of you as well. what is important here, and i want jon to bring him in, we are distracted by earnings, distracted by all of this tech stuff, and it is about the deepest market out there, and that is fixed inc

alongside tom keene and lisa abramowicz, i'm jonathan ferro. on the s&p. we events about 0.2 percent. yields higher by a single basis point, and euro-dollar through the week clinging onto $1.20. -- clinging onto 1.20 -- clinging onto one dollar 20 since. -- clinging onto $1.20. tom: lara davidson is with bloomberg tax. she last night moved the markets and moved the world of washington with reporting on a very large capital gains tax increase. in your reporting and preparing the very important breaking news, what was the hardest thing to confirm within the reporting? laura: really, the hardest thing is will they go with that top rate north of 40%. that was really the issue. this legacy tax applied basically to all capital gains, so there were a lot of questions of do you stack those two rates to have a race that is north of 40%, and ultimately -- a rate that is north of 40%, and ultimately, that is what they are going to go with. this is something that democrats are interestingly pretty united on. republicans have said they are not going to vote

tom keene will have a special on wednesday. i cannot wait, tom.yn hyde is somewhere just crying watching this. tom: let's tea up the president 's speech. buried in paragraph 42, the fear of moderates. there is that pylon affect. when you are an incumbent and you have these political pressures to add things on. >> joe biden's first 100 days has been a remarkable sponsor to covid. -- response to covid. tom: incremental big. >> no one is standing back and saying, hold on a second, except for people like joe manchin. tom: moderate democrats. will he speak to them this week? coxey is going to try wednesday night and try to explain -- he is going to try wednesday night and try to explain. jonathan: he is talking about uniting the country. not talking about uniting congress anymore. coley will -- four out of 10 democrats, two out of three independents are willing to compromise on this bill. marty: it is very important. that is consistent with polling the last decade. they want congress to work together, republicans and democrats. joe biden said that is w

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. a simulcast, bloomberg radio, bloomberg television. good morning. in the heart of her season, more earnings at 7:00, no further earnings at 8:00. we wait to see what big technology does across this station. jonathan: onto apple, then onto amazon this coming thursday. the stories change. it is about the year on your base effects. a little more complex than the base effects for some of the cyclical companies. the story for me has been repeated by morgan stanley. demand is good. can we meet it with supply? can we execute? it is the execution risk that gets a little more interesting as these numbers poor in -- these numbers pour in. tom:tom: it is to america's. there's an america guilty from its prosperity, and another america flat on its back. jonathan: political risk around wages, around the taxes you pay, and these companies want to put themselves out front as part of the solution before anyone concludes they are part of the problem and does something about

this is "bloomberg surveillance" alongside tom keene and lisa abramowicz. i am jonathan ferro. it is the most anticipated cpi report in a long time. it comes a little bit later this morning. jon: and it is really that -- tom: and it is really the beginning of a wide set -- widespread anticipated data on this boom and far more, the x-axis, i can't say enough about how to figure out how we moved from q2 of 2022. jon: the officials, and the next 24 hours, you will be tried to shape -- they will be trying to shape the narrative big-time. the white house we will catch up with later on. abby seen the fed speak today into tomorrow? we hear from the vice chair of the federal reserve, the chair, everybody will have their say. i imagine they will be singing from the same sheet, transitory, transitory, transitory. tom: it will only get you so far. it is also about the real economy. it is not just to say we will get 8% gdp. it is the makeup of that 8% of gdp. jon: base of facts, basic facts. we don't have the buzzwords into this one. lisa: and we will be drunk by the time at a 7:00 a.m. if

bit of inflation is being passed through, and then some. >> this is "bloomberg surveillance" with tom keenero, and lisa abramowicz. tom: good morning,

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: from new york city for our audience worldwide "bloomberg surveillance, good morning. this is "bloomberg surveillance -- for our audience worldwide, this is "bloomberg surveillance ." alongside tom keene and lisa abramowicz, i'm jonathan ferro. we will have an ecb rate decision. you will hear from president christine lagarde. credit suisse down another 6.5% in zurich trading off the back of raising another $2 million and taking another $600 million hit off the back of this archegos chaos. tom: the intraday chart on credit cease is fragile, down 6% ash on credit suisse -- on credit suisse is fragile, down 6%. jonathan: lisa, raising capital, raising capital. the issue for credit suisse's we have seen this story so many times in recent times and over the last years, too. lisa: we still don't understand exactly what happened at credit suisse. a lot of banks are evaluating how much they will extend within their credit units. of course, hedge funds pushing back and saying that wou

alongside tom keene and lisa abramowicz, i'm jonathan ferro.e 12 minutes away from inflation data in the united states of america. here is the set up for you stateside going into the opening bell in about one hour and 12 minutes. equity futures down nine on the s&p, down about 0.2%. yields on the 10 year, 1.67 65%. the headline from the fda and cdc recommending a pause in the j&j vaccine does not make it in this market. euro-dollar bricking $1.19 this morning, a mild move lower by 0.1%. tom: we get lucky, as we did over the last number of days, to have the right guest at the right time. i don't know how our team does it, but they have been killing on this. tina fordham joins us with avonhurst, head of political strategy. three cups of coffee ago, i thought we would talk russia, china, taiwan. no, because there has been an extremely detailed study at avonhurst on our vaccination, on our pandemic, and the realities of our resilience and success forward. tina fordham joins us this morning. here we have the j&j news. you literally write about it we

. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. on radio, on tv, a simulcast. huge news flow. russian sanctions, we will get to that in a moment. right now, citigroup is out, and it is a strategy refresh. jonathan: is the headline. citi to exit retail banking in 13 markets across europe and asia. it is a strategy refresh from citigroup, and the new ceo james fraser to exit retail banking in 13 markets across asia and europe. in the numbers themselves, i know that headline caught your eye. tom: but as you mention, the retail shutdown across the world , what is so important to me is the efficiency ratio. jane fraser and her first time out, she's going to make very clear what the tone is on cost control. citigroup is a different bank from bank of america and j.p. morgan. lisa: although it is trying to consolidate some of its efforts, to your point. take a look at the premarket share price pop, up now 1.8%, so clearly a response to the beat, both with with specs across the board in earnings, but also to gett

alongside tom keene and lisa abramowicz, i'm jonathan ferro. about 0.4% on the s&p 500. where do you want to begin? with got beets for earnings and a little bit of m&a on the

. >> this is bloomberg surveillance with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. simulcast bloomberg radio, bloomberg television. mr. ferro off-again today. beijing, we have stephen roach as tensions between america and china. lisa: tension between the china of old and china of new and the dueling narrative about the u.s. versus china and china versus china as they try to make a more sustainable recovery. tom: it is a great bull market and across the foreign exchange. we will get to the data in a moment. record highs yesterday in the equity markets. lisa: people trying to price in the optimism. today, you cannot make much of one day of ice action, but to me, it is chasing growth -- you cannot make much of one day is price action. growth is in europe. perhaps they might get to herd immunity sooner. the idea that people are trying to price in hope more than reality because we cannot see the reality yet and the hope of the future is so different. tom: the day-to-day news flows. you can go to the bloomberg turnbull and see the date when ear

alongside tom keene and lisa abramowicz, i'm jonathan ferro. behind a monster first quarter for the banks. the banks in america on the s&p 500 up almost 23%. tom:

. >> this is bloomberg surveillance tom keene, jonathan ferro, and lisa abramovitz. tom: good morning, everyone. it is a european week. we are focused on america, the soccer uproar and the rest of it, but it is a week for lagarde. jonathan: interesting calls out there. euro-dollar, 1.25. bnp looking for a positive yield on the german 10 by the end of the year. around -25 basis points right now. it is an inflection point. the progress that's been so much better from where we were. tom: the inflection point, the debate over the weekend about gdp growth, inflation, it's all about the obvious boom economy. jonathan: capturing that with the bond market. this market has been positioned for better growth. we started to see these numbers. how does the market react? yields lower. is this just a consolidation or a turning point? consolidation probably feels like the right word after the move we have seen in the last few months. tom: lisa, what did you observe in your reading this weekend? lisa: we are in a number of tipping points. the bond market, the idea that we are entering