tom tom, thank you for speaking with us. so - that. tom tom, thank you for speaking with us. be allowed on here, apart from the rangers themselves who are working desperately hard to try and stop bird flu from killing these important species. thanks to fiona for that. _ now you may, if you are on social media, have seen british chinese trending on twitter and tiktok. it got us talking in our editorial meeting this morning. turns out it is all about takeaway food. nicky schiller is in the newsroom with more. hi louis. i've got a question for you. what would you think if i set i was going for chinese?— you. what would you think if i set i was going for chinese? heading down to a aood was going for chinese? heading down to a good chinese _ was going for chinese? heading down to a good chinese restaurant - was going for chinese? heading down to a good chinese restaurant down i to a good chinese restaurant down the end of my road's_ to a good chinese restaurant down the end of my road's well, there are certainl a the end of my road's well, there are certainly a number _ the end of

tom collins. we have the tom hanks. >> tom: well, good, good. tom: we were debating what the name of it should be. and i came up with it because it is coke and it is champagne so it's obviously diet cocaine. coke-agne. c-o-k-a-g-n-e. that.s the other name you said?h [applause] but confess. it's pretty good. >> stephen: it's really good. it's strangely, strikingly, shamefully good. because it's so refreshing. you give that little caffeine too. keeps you going to that champagne. >> tom: that's right. you'll polish both of them off. a six-pack -- >> stephen: oh, i can finish a diet coke. >> tom: and the magnum. >> stephen: i am no lightweight. i can finish a diet coke. >> tom: two-fisted coke drinker. i love it. >> stephen: we've got to take a quick break. we'll be right back with more tom hanks. i can't believe. [cheers and applause] ♪ ♪ (vo) red lobster's finer points of fun dining. how to endless shrimp. step 1: greet your shrimp. step 2: bid your shrimp farewell. repeeeeeeat. ultimate endless shrimp is back. a cool twenty gets you shrimp aplent

tom foley. whose fingerprint was on the bag of shells in the basement? tom foley. tom foley is guilty. erdict. >> the outcome of tom second trial was far from certain. what were you the most? >> just that he was such a nice guy that you would never have guessed that he would've done something like this. he >> didn't seem like murder? >> right. >> and then, at the fabled 11th hour, it was time. the jury filed in. >> were they looking at you, the jurors? >> no, they weren't. >> i talk a couple of the press and i just -- >> your honor, we the jury find the defendant not guilty. >> the waiting had paid off. >> as to count two? >> not guilty. >> the reaction that type of tom at the time of the verdict -- >> he collapsed to the floor and wept for 20 minutes. unbelievable. >> he got away with murder. he almost didn't. we had it. we had him convicted. and to actually have to go back and talk with that family, and try and give them some consoling, how do you do that? >> you're just angry. and you are angry at the jurors, the judge. there's nothing you can do about it. >> i was more concerned abo

tom were still friends. in fact he told the investigator it was tom's partner who fired him, not tom. find another job. >> are you getting any bad feeling from him? are you suspicious of him? >> not at all. >> so you're thinking this is going to be something that we're going to cross off the list? >> yes. i didn't expect to see him again. >> to the investigator and those close to kelley, michael beard didn't seem like a good suspect after all. >> did you think it was -- it was possible that he's a disgruntled employee? he was, you know, taking revenge? >> i didn't. because if you're disgruntled, why wouldn't you kill the person that you're disgruntled against? i mean, "i'm -- i'm angry at you, so i'm going to go kill your wife." >> but as a matter of procedure, the investigator asked beard for a dna swab and permission to look through his cell phone. >> he was very, very forthcoming. very willing, no problems. just very cooperative. >> while the state investigator was checking out the not-so-promising michael beard tip, sheriff's investigators had tom down at the station. detective don

tom, have you ever considered shaving your head, growing a mustache and wearing women's clothing? >> tom: no, no. >> pete: it could get you a job in the administration. >> tomonsidered stealing people's luggage but i didn't do it. that's the whole thing that's the difference between me and him. i look and think i wouldn't mind stealing it but i don't do it. >> pete: you're the reeling why they check the bag tags. >> tom: yes. sometimes it's just by mistake, theulousage, you have to make sure. sometimes i grab a bag and i think it's mine and it's not mine but okay, all that being said this guy's a total freak. i mean, we knew that when he appointed him. he didn't seem like the most stable guy and we were like, i don't think this is going to turn out well and they're like oh, you're a racist or whatever they said at the time. we couldn't criticize his pick but then he proved himself to be a total weirdo criminal lunatic, and now there's just kind of silence from the administration. this is where they're supposed to stand up and hold a press conference and apologize for being so irresponsible. this guy, i don't know what his exact position was but something to

tom didn't do it. some people who had been suspicion of tom, but privately detectives alongside cleared him. >> another thing kenney new, is that tomspicion of tom, but privately detectives alongside cleared him. >> i could tell that he didn't do it. but we went through the steps, we alibied him, and we did everything that needed to be done to make sure. >> apparently his attempt to cash out the insurance policy so quickly, there's just a matter of financial survival. >> i would've never thought that tom had anything to do with this, that's why it felt so broken hearted. >> so, with tom in the clear, detectives consulting with other jurisdictions on how they handled nobody cases. they line up all the friends that and circumstantial evidence, and finally the prosecutor told them, they were ready. in 2012, four years after sabine vanished. bill cumber was indicted for second degree murder. but it was not going to be an easy case. >> obviously, you have evidence that goes with the body. cause of death, manner of death, and we didn't have that. >> and what would it take for a jury to believe handsome bill was a killer? >> coming up --

tom: it is tuesday the 30th of may. the countdown to the close starts right now. >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. tom: checking in on european equities. 30 minutes ahead of the close in europe. the european benchmark down .8%, setting itself up for a second day of losses. the ftse 100 is a real drag after being out of the action yesterday. that is where on the broader index there is money moving into german debt. it is all european sovereign debt on expectations maybe there is going to be repricing about -- around the ecb and how far it is going to go with rate hikes. spanish inflation comes in lighter than expected. on the tech front, st micro is one example, a provider of chips to companies like apple. it is getting a left from the optimism went to nvidia. now, of course a $1 trillion stock. that is a look at how things are shaping up. the ftse 100 is a real drag as we enter that close, kailey. kailey: you already set me up perfectly. it is nvidia driving a lot of the equity price action. the guest contributor to both the s&p 500 and nasdaq 100, it is up by around .8%. nvidia is gaining the better part of 5%. a $1 trillion stock on that ai play. only one of nine in the world that have a valuation that high. the u.s. is the debt ceiling deal that was reached over the weekend. it now needs to work its way through congress. by no means are we at the finish line, yet the bond market already is reacting. the 10 year yield moving down nearly nine basis points. and those t-bills maturing in june are where you see a lot of action. those yields have spiked up as there was uncertainty. now that one has been done you are seeing a massive move lower. the ones maturing june 8, down seven basis points on the day, tom. tom: back to that inflation picture in europe. spain coming in with a cpi well below estimates. the argument being made that the ecb is seeing its work being done for it. we have had officials from the central bank saying we are getting close to a peak in terms of rates. the markets remain divided in terms of june and how far the ecb will go. the market is pricing in about 15 basis coming through from june. repricing a little lower in terms of the right trajectory from the european central bank. here is the divergence. we are going to get inflation out of italy and germany tomorrow. 2.9% is the number in spain, diverging from italy and france. energy certainly a play year on year. that coming off, but also food prices coming in for spain as well. a different picture when you look at inflation dynamics in the u.k. money moving into sovereign debt here in europe. kailey: this is something we have been speaking about on bloomberg television all day today, including to eric nielsen, who

tom: all options still available for the swiss unit of credit suisse. this is seen as a prize for the ubs team. tom metcalf there were the latest on the management changes at the top of the tree at ubs as it takes on credit suisse and what it tells us about that project. thank you tometcalf from the finance team. let's get the business flash with sarah halls. sarah: china's export growth slowed last month while imports limited, adding to pressures on its economic recovery. according to official data, it dropped almost 8% on the year to april much worse than the median projection of 0.2% decline. exports grew 8.5% over the same period, partly due to a favorable comparison with last year when much of the country was under lockdown. bloomberg has learned that goldman sachs has agreed to pay $215 million to end a long-running class action lawsuit that accused it of systematically underpaying women. according to a joint statement with the plaintiff's lawyers, the bank struck a deal with the group which represented about 2800 women, alleging discrimination in pay and promotions. the deal to settle the dispute comes weeks before a trial was due to begin. paypal shares fell in extended trade after the company lowered its adjusted operating margin forecast. the payments gia

the french riviera for the opening of the 76 can film festival 21 feels that competing for this is tom tom. joel prize reco. what year for female filmmakers was 7 of the $21.00 movies rights and 5 women. however, the festival coincides with a strong flat screen. light is in hollywood, is one is an anti government purchase ink from the this is down to 0. these your top stories. i'll just there is spoken to a powerful haitian gang leda. it was a keesing politicians, a feeling violence. the ones actually general is wanting that unrest risk destabilizing. why the region equity was president, has made a define to parents that as impeachment trial, gelato is declared his total innocence, the corruption allegations and is the left wing on position. second attempt to remove the president more than 30 people have been killed and fighting in central nigeria, local officials and flatter states. a gun bottles broke out between moseley, mr. hutton, and christian farmers that has been a long running dispute about access to land and water. meanwhile, in south eastern lodge area on sizes have open find a

sanctions against tom —— tom glen, tim bresnan and andrew gale have also been issued.on that story. in rugby, this kasterborous has been completed, they are now owned by the atlas group run byjim o'toole. there are concerns that london irish could be in trouble. —— the sale of worcester warriors has been completed. players and staff have yet to receive their april wages. the players were told on tuesday they would be paid that day, but funds had still not arrived on wednesday morning. the players have been called to a meeting on wednesday lunchtime for a further update. it's one of the most attended sporting events in the country, with more than 200,000 people expected at badminton horse trials this weekend. it's one of the toughest challenges riders face, competing in the three main eventing disciplines of dressage, cross—country and showjumping. each year, a handful of the top grassroots riders from around the country also get the opportunity to compete alongside their heroes — their competition began today. among them was social media influencer megan elphick, who r

tom mackenzie. tom: hsbc profit crushes estimates, the bank says it will repurchase $2 billion of stock. the ceo tells bloomberg exclusively, there may be more to come. jp morgan acquires first republic in a government-lead to dealer for the failed lender. as morgan stanley is said to be planning 3000 more job cuts as dealmaking slumps. the aussie dollar jumps after the rba unexpectedly hikes rates. treasury secretary janet yellen says the u.s. risks running out of cash as soon as june 1. francine: futures are holding onto gains. a lot of the focus is the fact that swap traders have boosted the odds that the fed raised raise by a quarter point. the other focus on economic data later out of the eurozone, that will give us an indication of what we can expect from ecb. tom: the economic data out of china pretty mixed. manufacturing coming in lower, even as services particularly around the travel and leisure improves. when it comes to the earnings picture, bp and hsbc, we will talk exclusively to the ceo. a surprise special dividend coming to play. when it comes to the u.k. by the way, markets now pricing 5% from the terminal rate from the boe. the focus on the fed, and that decision tomorrow, and to what extent banking risks have been neutralized by jamie dimon and the team at jp morgan. the french cac 40 down .4%, the spanish ibex flat, the ftse 100 also unchanged in the first fee seconds. let's see how things are shaking out across these asset markets. the focus on the aussie dollar after that surprise in terms of 25 basis points, the hike after a pause the previous month, and officials flagging potentially further increases and tightening potentially in the pipeline. those are the gains, futures in the u.s. flat. you are seeing movement in yields on

tom lockyer? applause who loves tom loc er? ~ ., ., who loves tom lockyer? ommy, tommy! if you didn't know---_ didn't know... i don't think the -la er didn't know... i don't think the player sitting _ didn't know... i don't think the player sitting got _ didn't know... i don't think the player sitting got on _ didn't know... i don't think the player sitting got on the i didn't know... i don't think the | player sitting got on the coach. haven't been showing is a huge amount yet but we will try and find out where things are and where they are coming because there are a lot of people waiting to scream and shout and dance around with confetti and all of that. just to talk a little bit more about the money, ryan,in little bit more about the money, ryan, in terms of that 170 million figure that i mentioned that will come from the match over the next few years, he just explain what that money is and where it comes from? as its sponsorship, meteorites? medium money? what does it come from, where do you get it? —— media rights? media money? in do you get it? -- media

tom _ ai? tom, thank you very much. applied futurist tom cheese - ai? tom, thank you very much. right joining us. the un war crimes tribunal in the hague has increased the prison sentences of two former serbian state security officials from 12 to 15 years, after a legal process lasting two decades. jovica stanisic, pictured here on the left, and franko simatovic, on the right, are both in their seventies. both were sentenced to 12 years in 2021 in a retrial that followed acquittals in 2013. the pair were convicted of training serbian death squads who committed crimes including murder and ethnic cleansing. live now to the hague and our correspondent anna holligan. why have these sentences been extended, anna?— why have these sentences been extended, anna? hugely significant decision today _ extended, anna? hugely significant decision today because _ extended, anna? hugely significant decision today because these - extended, anna? hugely significant decision today because these two . extended, anna? hugely significant i decision today because these two men tied the serbian state in

it knew what tom tom was, ends in to this. com. welcome to the rest of the interesting times. the magic word in the car industry is downsizing in combustion engines. 16 and is replaced by a false false in the is replaced by a 3 sealant engine. and even gentleman, premium manufacturers equipped the s u rays that are as big as heavy as the 660 with 4 cylinder engines. the reason for that is that smaller ends in needs less fuel because the friction is reduced. and the heavy pods in the engine are reduced, so it's a uses less fuel, but not only the fuel consumption is low, but the also the torque and the smooth ceiling. when driving the car, that's the concept pod and much stuff. you know, it's quite small japanese comical. they say, oh, we don't care. we present a new 6 cylinder diesel engine for the cx 16 because so we can it's combined with a 40 volt, mild hybrid system that uses recuperated energy and can separate the diesel engine from the drive train. so it can be switched off when it's not needed. this 6 to the engine really makes it a very good impression in terms of accel

the russian anthem to the rhythm of the african tom-tom and the rustle of darkness and zimbabwe meetselicopters from russia at a high level . the president of the republic personally came to receive the equipment. this helicopter is called flying resuscitation, light maneuverable ansat. for several years it has been the main medical helicopter in russia. here they are 18 brand new russian helicopters, some of them have not even had time to remove the film. soon these russian cars will save life to keep order and observe wildlife 24,000 lives saved over 3 years of work in russia, a figure that speaks better than other technical characteristics for zimbabwe, where is the usual ambulance. there are not everywhere sleepy. this is completely fantastic, adult resuscitation styling. children's special styling for obstetrics traumatologists. a set in general, as you can see everything that can be found in intensive care, high mortality is not available and for the majority of the population medical services and the most severe western sanctions of zimbabwe are among the leaders in the number

tom— good afternoon. you're with gb news live. i'm tom harwood. and hee— news live. i'm tom harwood. e whet-e— news live. i'm tom harwood. and here's what's coming up. new figures— here's what's coming up. new figures have— here's what's coming up. new figures have shown that uk net migration— figures have shown that uk net migration reached 606,000 last year— migration reached 606,000 last year ,_ migration reached 606,000 last year , e— migration reached 606,000 last year , a record— migration reached 606,000 last year , a record for— migration reached 606,000 last year , a record for a— migration reached 606,000 last year , a record for a 12 month year, a record for a 12 month period,— year, a record for a 12 month period, although— year, a record for a 12 month period, although slightly less rheh— period, although slightly less hee hee— period, although slightly less than had been— period, although slightly less than had been predicted . what's than had been predicted. what's going— than had been predicted. what's gehg she— than had been predicted. what's gehg she weh— than had been

tom. tom. hi mark.— website. now we've got this from tom. tom. hi mark. love your snow.— tom. tom. hi mark. read with a suitcase of cash.— paying for a loaf of bread with a suitcase of cash. yes. yeah i know. — a suitcase of cash. yes. yeah i know. too— a suitcase of cash. yes. yeah i know. you know,— a suitcase of cash. yes. yeah i know. you know, it's- a suitcase of cash. yes. yeah i know. v/rir. c i know. you know, it's actually laughable. it is just please, just shut up, sunak. laughable. it is just please, just shut up, sunak . you know , just shut up, sunak. you know, you've got to get off that fence. let me tell you, ingrid. merry.— fence. let me tell you, ingrid. merry. wirat— fence. let me tell you, ingrid. nenry. wirat to— fence. let me tell you, ingrid. henry, what do you— ”ti i let me tell you, ingrid. henry, what do you think about misi— henry, what do you think about this? because— henry, what do you think about this? because many will say that this? because many will say that this is— this? because many will say that this is sonat— this? because many will say that this is suna

yeah, very good morning, tom tom — yeah, very good morning, tom tom tne— yeah, very good morning, tomg as— labour. and darren was very interesting as he— i and darren was very interesting as he described middlesbrough, stoke on trent, otnen— middlesbrough, stoke on trent, otnet ttotee— middlesbrough, stoke on trent, other places like— middlesbrough, stoke on trent, other places like that, which not— other places like that, which had traditionally been labour ont— had traditionally been labour ont tnen— had traditionally been labour and then boris— had traditionally been labour and then boris johnson had taken tnem — and then boris johnson had taken tnem ott— and then boris johnson had taken them off labour— and then boris johnson had taken them off labour in— and then boris johnson had taken them off labour in general eteettone— them off labour in general elections as— them off labour in general elections as they're now going tott— elections as they're now going toet to— elections as they're now going back to labour. _ elections as they're now going back to labour. ' “t: i: elections

african tom-tom and the rustle of maracas zimbabwe meets helicopters from russia at a high level , the president of the republic personally came to receive the equipment, this helicopter is called flying resuscitation, light maneuverable ansat. for several years now it has been the main medical helicopter in russia. here they are 18 brand new russian helicopters, some of them have not even been filmed yet. soon these russian cars will save lives , keep order and observe wildlife . this is completely fantastic, adult resuscitation styling, especially for children. masonry for obstetrics trauma kit in general, as you can see everything that can be found in resuscitation, high mortality is not available and for the majority of the population medical services and the most severe western sanctions zimbabwe among the leaders in the number of deaths on the roads of the air ambulance from russia should stop this terrible statistics. zimbabwe is a fairly large country with a lot of hard-to-reach regions. where in principle, no help can reach. and now , a specialized assistance doctor in a helic

tom, i've got you down as a more holistic that. i'm just a plain old-fashioned skinny milk. i'm struggling, back on the diet. what do you go for, tom? tomchange it to an oatmeal latte rather than an o.a.t. latte. the oatmeal latte with the topping of quinoa or something on top. manus: i love a bit of quinoa. tom: bring in abby again, save us. >> a straight black coffee, although i'm not entirely sure if it delivers to the office in berlin. as well as the uber eats were also seeing they have forced a concern on lyft as well when it comes to bringing people back to the platform. that is also a big deal because essentially lyft has now got a new ceo, it's done the thing we've seen a lot of tech companies do come have to lay off staff and call their other stuff back to the office. what i'm interested in seeing going forward is if lyft says that what they are going to do to bring back there consumers is drive prices down again, what does that mean for these banner numbers for uber going forward? they've done really well in this quarter but if they're trying to still drive down prices, we don't know what that really means for uber. manus: i c

tom: peter, we appreciate your time, fielding a number of questions. peter: thank you for having me. tom: this is bloomberg. ♪ tomon markets in europe, losses once again led by the energy sector. oil under pressure again. wti brent, looking ahead to the opec+ decision later in june as to whether they go with the cut. linking the softer data out of china, that slow down, at least the rebound not as strong as expected, underlined by the pma data earlier today out of china. the ecb, slightly different picture. the jolt numbers the fed has more work to do but the inflation picture in europe suggesting the ecb can take it easier. money moving into german bunds once again. dollar strength coming through, linking to that softer inflation data. coming up on the european close, we speak to andrew sheets of morgan stanley, on his calls in terms of how to position, if indeed the debt deal gets done and his take on whether jolts numbers leave the fed. this is bloomberg. ♪ somebody would ask her something and she would just walk right past them, (laughs). she didn't know they were talking to her. i just could not hear. i was

opposition taking a strong lead opinion polls that indicated major games for opposition candidates by tom tom shin was she's the daughter of the former prime minister talks and should it was about spring seen as a potential turning point for the country private as the private journal, john is running for re election h e is off to coming to power in a cool a started chat report. so from bangkok to vote puts the opposition move forward and put, ty, it policies in a position to form a coalition. government together it certainly puts them both in a commanding place, but it doesn't give either policy. the land side majority they need. it looks like they're going to have to come together to form a coalition government. but even that might not be enough. because of the strange way, the type of constitution is at the moment, even if those 2 policies, both with a significant winds, they have joined together. they still might not have the 3076 seats. they need to get over to the senate, which is appointed by the military. but all of these complications were really not in the minds of tie versus this mo

tom: foreign demand is there, though. the big u.s. networks will be on the ground. francine: i know there are some street parties, but maybe not as much as the jubilee. tom early edition" is up next. this is bloomberg. ♪ no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. >> this is "bloomberg surveillance: early edition" with francine lacqua. francine: good morning and welcome to "bloomberg surveillance: early edition." m

[ laughter ] ♪ tim scott tim kain two tims diff names ♪ [ laughter ] ♪ tim rick tim tom tom ji rick scott jim tim tom'su with an h ♪ [ laughter ] ♪ mark bob mark bob ric rick markwayne bob mark bo todd ed markey back to kaine ♪ [ laughter ] ♪ john and john and john an john and john and john and john okay also john also joh but those last two ♪ ♪ don't have an h ♪ ♪ tim tom jim bob markwayne rick scott tim tom jim risch rick roll tim scott ♪ [ cheers and applause ♪ >> jimmy: i hope that was helpful. i hope that was helpful. >> steve: oh, good, yeah, yeah, yeah >> jimmy: hey, listen to this, today officials announced that ahead of king charles' coronation, the historic stone called the stone of scone has left scotland and it's on its way to london. yeah, the stone of scone that's not to be confused with the scone of stone that's in every starbucks display case [ laughter ] "how old is that sucker? what year is it? [ light laughter ] some entertainment news, there's a new "smurfs" movie in the works and -- [ cheers ] -- rihanna has signed on to do the voice of smurfette >> steve: ooh! [ cheers and applaus

tom keene, jonathan ferro and lisa abramowicz. tom: we are here with michael block. jonathan: 151 yards out. look at that. what a shot. tom: outstanding. let's listen to the crowd at oak hill. [laughter] jonathan: thanks for getting involved. tom: this is golf in america over the weekend and it was a club i have the fondest memories of. jonathan: what a story. tom: it gets better and better. jonathan: i don't think i've ever seen a hole-in-one like that straight into the cup. i'm told that they were charging $150 per hour for lessons and he picked up 280 $8,000 over the weekend. tom: what we try to do every day is to be understanding about the markets. the way cbs did it even with rain saturday. there is july and winter and that's it. jonathan: from new york city this morning, good morning, we will practice next time, alongside tom keene and lisa abramowicz, i am jonathan ferro. s&p futures are slightly negative. debt ceiling talks are on and off for good or ok. we get another round later on. tom: the president is coming back home and anne-marie hordern will brief us. i believe futures right now her 42 -- are now 42 and t

tom: tom metcalf on latest in terms of the lines crossing the banking sector. when it comes to chemicals part of the business, syngenta is based in switzerland but chinese owned set to move forward move forward with a shanghai ipo. people have been waiting for this. it has been delayed for a while. the listing of syngenta in shanghai is a big boost for that market certainly. syngenta is owned by china national chemical corp.. the regulators have yet to sign off on this but the plans are that it will be listing on the main board there in shanghai. that is news in terms of agricultural products with junta. africans ran to hit a record low last week. we will delve into white economists think rate hikes will harm the currency more than help it. we will discuss that next. this is bloomberg. ♪ francine: 51 minutes into the european trading day. the focus of firmly on the debt ceiling. more optimism then there was 24 hours ago. president biden's and hiroshima for the g7 but he is cutting his trip short to go back to washington for negotiations. let's look at key things markets are watching out for. the bank of england governor andrew bailey and officials are set to testify with the u.k. treasuries like committee on you -- on qt policies. us jobless claims and other economic data occluding existing pub sales. tom. u.k. time for central bank of mexico will announce its rate decision. bloomberg economics sees them raising rates a final time in the cycle by 25 basis points. important within the em mix. later today before the u.s. equity markets open investors will get another gauge of consumer resilience with alibaba and walmart both set to release earnings. back to geopolitics but also the travails of one nation on the continent of africa. south africa's crippling energy crisis, low growth deteriorating fiscal metrics combined to push the rand to a record low last week. the normal response of raising rates to defend the currency could undermine a fragile economy and push the rand even lower. that is the view of goldman sachs. let's bring an jennifer zabasajja was on the ground for us. what do we expect the central bank of south africa? >> as you mentioned, economists are saying the central bank is really at a difficult time at this point because last week the actions of the rand dropping to the

tom, the debate is the toxicity of this regional bank contagion versus perhaps some of the corporate results is in it? tom: kbw index on the back of that story. year to date, the index a compiler of regional banks and major lenders down 30% year to date. yesterday another big hit, down almost 4% around the terminal linked to the likes of pacwest. western alliance and first rising. how do regulars respond to this? we will get another -- will we get another weekend of bail outs or failures of these banks? and asia, a different story. relative optimism coming through as investors in that part of the world a look through the banking crisis in the potential of a pause from the fed and possibly cuts by year end. soccer dollar a boost in that region and that index, the benchmark getting .4%. the financial sector has been one of the outperformer's in asia over the last few days. futures in europe gains of .4%. stateside after losses yesterday, futures pointing up by .4%. manus: it's interesting to reflect on rather -- whether it is rates. jeffrey gundlach says the fed will not raise again and the rates market, there is huge pointing going on out there. let me show you what is going on in the rates market. at the short end, a massive point up there that you will get a rate cut by july. the short end of the curve are three-month bills, spiking on this regional bank and the gamestop like moment happening in the regional banks is causing the showdown at the very short and. also, the debt ceiling playing into that. it debt ceiling drama could become a real risk. government issue bills yesterday at 584, the highest 2000. t-bills are spiking. threes tends are the most averted since we began gathering data in 1992. whitney houston was number one. i will always love you. that's a note for you, tom. there you go. nymex crude bouncing back. and lost 10% this week. sometimes i make myself laugh. opec's -- opec remains committed to a recovery. gold is just off a two-year high. we are drifting back. it has had the best week since march over the regional bank angst. tom: there is how to work and a whitney houston reference. that is on the record now. i am running with that. manus: dani will be jealous. tom: she will be. she'll be back next week. valerie tytel is with us for the latest on u.s. banks. jana will be breaking down the ecb's decision. alex webb is standing by with the apple earnings. manus, let's start with the banking space. manus: pacwest, western alliance and first horizon led the concerns. there is anxiety about financial stability. let's bring in valerie tytel in terms of what is happening here. valerie, it has been a brutal week the regional banks. what is the circuit breaker to the banking crisis? valerie: if you asked the market yesterday, they would have told you

tom: we have to introduce you before you can talk. lisa a.: [laughter] tom: look, jon -- jonathan: he is never going to come back. tom you! [laughter] tom: the whole ad thing in sports where they show the action during commercial breaks, do think it would work for surveillance? >> for surveillance, yeah, maybe i could be in a sound booth and i could play music like the howard stern show, so whenever you say things your audience is used to hearing, i can play a sound. tom: explain why damien is here. jonathan: front and center, the prospect of a runoff, something erdogan has not had to deal with in recent times. how important is this? >> do we really think that erdogan is not going to be around in 2 weeks from now? do the markets really believe that? the chp are the centrists going to the runoff against erdogan. erdogan has nine lives. that country is financed by middle east and russian money now. for me, this is nothing ne-yo. this is a man who has -- nothing new. this is a man who has nine lives. it will be difficult to displace him. lisa a.: here is my question. we all think of this as a potential positive shift fo

tom. tom: lizzy burden, thank you very much indeed. we will bring you the boe decision at 12:00 p.m. today, and special coverage of the news conference. guy johnson will sit down with the be we governor, andrew bailey, we will bring you that interview today at 4:00 p.m. london time. tune in for that. vivek paul, senior portfolio strategist at black rock is still with us. on the boe, can they afford to signal a pause? vivek: the more perspective they are, the more they are holding themselves hostage to fortune. this shows how difficult it has been, that trade-off of stabilizing inflation and growth is so hard for developed markets the world over, but particularly for the bank of england. the fact that it is still double-digit inflation will come down materially, but the fact that core's multiples of their target and when you think about the growth picture as being a roundabout number, it is secondary to the fact that it has been flat broke, it is projected be flat for a period of time to come. so this dynamic is more community -- the key for them than anyone else. they are the -- of of that sharp trade-off, that new regime of balancing competing factors. it is more difficult for them in some ways. tomdo we get above 5% what is your terminal rate projection? vivek: it would be surprising if it was anything other than 25. we need to talk about not just inflation but the growth path. how do you view near-term resiliency? do we read into that that we need to do more in the future? or is it the fact that some of the lagged effects have yet to come through? understanding that dynamic will help us understand how that will land. tom: briefly on the ecb, inflation rates are lower compared to the u.k. the ecb are going to go. ahead with rate hikes, unpack that for us. vivek: there is more of that primacy of the inflation mandate, then there is potentially for the federal reserve. if you think about the balance of what they are trying to do, perhaps that is part of the reason why they have still yet to be done. the dynamic doesn't mean there is no trade-off to be had, but they are veering towards one side of it for the foreseeable future. tom: there has been scrutiny around other cracks. the

tom: tom metcalf with the latest decision on the cma, heading our emea finance coverage. coming up, u.k. cpi shows a sharp drop but inflation is still stronger than expected. the markets are reacting to that. we will break the numbers down for you after the break. ♪ >> the politicians in washington have been debating the debt ceiling for decades. every time it happens, you wonder given how crazy the politics is in the u.s. right now if this will be tightened, but treasury markets are behaving well, credit markets are behaving well, so the market is not pricing in a disaster yet. tomandard chartered ceo bill winters on the u.s. debt ceiling. welcome back to the open, 21 minutes into european trading day. losses fairly pronounced across european equity markets, the benchmark selling currently down ought 1.2%. in france, the cac is down by 1.4% and we continue to focus on the luxury story on the turnaround. in terms of sectors, the biggest losses coming through for real estate. basic resources also being hit. brent and wti, some recovery for oil on the back of the comments from the saudi energy minister to bloomberg yesterday saying a warning against selling. telecoms is the worst performing sector and the futures in the u.s., s&p pointing down 0.2% building the losses from yesterday on wall street on the concerns we are now at an impasse between republicans and the team around the president on this debt ceiling. let's get to what is happening in the u.k. on the ftse 100 is down 1.4%. u.k. inflation drops into single digits but the numbers still exceed all estimates

tom. tom. hi mark.— website. now we've got this from tom. tom. hi mark. love your ebow.— tom. tom. hi mark. oncerns. c people and real concerns. so it is people and real concerns. so it te o— people and real concerns. so it te o root— people and real concerns. so it is a real concern.— people and real concerns. so it is a real concern. but- people and real concerns. so it is a real concern. but it's not a solution. i mean, basically, food prices are high for a reason, right? like the food supermarkets, reason, right? like the food supermarimargins. it's very very tight margins. it's very competitive. not banking very tight margins. it's very compprofits not banking very tight margins. it's very compprofits . not banking very tight margins. it's very compprofits . high not banking very tight margins. it's very compprofits . high pricesranking very tight margins. it's very compprofits . high prices onting very tight margins. it's very compprofits . high prices on the huge profits. high prices on the shelves reflect prices all shelves reflect high prices all the down the supply chain. the way d

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tom: this is a big deal. up, up and they are doing it with rates going up, it's bizarre. jonathan: live from new york, this morning, good morning, good morning. tom: tom is in his office falling apart because mr. roy died and bramo is making a cameo. jonathan: stop there, no spoilers. tom: i'm not. jonathan: are you done? tom: everybody was all over twitter yesterday. jonathan: bramo is the star of the show. lisa: there is a little picture in the far distance. it meant a lot to me. jonathan: equities are softer in the s&p 500, negative by 0.2%. manufacturing data for the eurozone is terrible. services were just about ok and the euro is breaking down, $1.07, another retreat this morning. lisa: you point to the manufacturing side but on the others, the services sector came out better than expected with increased pricing pressure. this is two sides of the wrong going for a region that still faces a lot of inflation but potentially some sort of decline in what we see. we will get that view on u.s. economic data but today we hear a host of different speakers from the qatar economic forum. it will be interesting to see following on the ryanair discussion ye

tom set at the beginning, 90-90 5% of these molecules fail. if we can alter the probability of success of getting molecules to approved therapies, that can have a huge societal impact. tom: what breakthroughs or discoveries have you had that you can tell us about now it's in the pipeline? james: we set up our system and asked the question, can we discover a new molecule that is able to differentiate between healthy cells and cancer cells? we took a clinical benchmark, a molecule that has been made using conventional methods biofarma company. we ran our ml driven process and what we ended up with was a molecule that was 400 times better than that clinical molecule in terms of different cheating between healthy and diseased cells. we now take that capability and apply that to a whole number of different potential therapies. francine: does that mean that you are also sharing some of the technology? if they go back to alpha fold in some of the ideas in a big database that everyone can use to peer review it and if you are using ai, how much sharing is there amongst your industry? james: there is a huge amount of sharing that goes on but for the work at labgenius because value is locked up in the proprietary data that we generate on-site, experiment on data, that is where a lot of the value of the company sits. it is our ability to tempt rate -- generate that data and it is proprietary. tomcellor wants to turn the u.k. into a biotech superpower. is that realistic? james: the u.k. is actually poised to take advantage in this revolution than ai. take a city like london for example. we have incredible expertise in synthetic biology, expertise in machine learning but also the capital here now to drive a lot of the innovation into exciting startup companies. francine: james field they are, founder and chief executive of labgenius. we will have plenty more on the markets and look at the policies that we have seen from certain fomc officials that may be a bit of a curveball from the governor from dallas. this is bloomberg. ♪ tom: welcome back to the open. happy friday. optimism across european equity markets am i picking up from gains that we saw on wall street. gaining .5% across european stocks, pushing higher in the 55 minutes of the open. top of the list in angel services. yes, there's confidence coming through on the debt ceiling debate and looking past the curveball throw

the patriots owner said this would be the beginning of many celebrations to honor tom brady. tom brady's first super bowl, i was in the stands for that one. >> no way. >> he and i go way back. >> way back. >> hey, garvin, how you doing? >> love that. >>> the exodus continues in san francisco. another big box store -- another big store is leaving the city. the reason the furniture company is pulling out as the list of empty buildings continues to grow. >>> also, patience growing thin as the oakland teachers strike wears on. the ways frustration is boiling over as agreement re mains elusive. >>> can you crack this code? the latest puzzle on the side of the adobe building that is available for you to solve. thanks for joining us. i'm

harwood wnewe— you very much, tom tom harwood enewe eewn— you very much, tom .— already stopped him. he had he had a knife . if— already stopped him. he had he had a knife . if the— already stopped him. he had he had a knife . if the security is had a knife. if the security is eeweeweew— had a knife. if the security is ewweeweww weww— had a knife. if the security is obviously very high and we've got plainclothes_ obviously very high and we've got plainclothes police officers newee— got plainclothes police officers newee en— got plainclothes police officers newee en ee— got plainclothes police officers mixed in as well— got plainclothes police officers mixed in as well with the crowd on mixed in as well with the crowd en ene— mixed in as well with the crowd en wne eew.— mixed in as well with the crowd en wne eew. se— mixed in as well with the crowd en ene eew. se e— mixed in as well with the crowd on the day. so i think that neenee— on the day. so i think that people should— on the day. so i think that people should be reassured that enew-we— people should be r

tom: the superstar guy, the blonde? jonathan: holland. tom: holland. he is not consequential because the others are so good. jonathan: these match offs all around the pitch so let's pick out kyle walker wins that easy. tomi'm a big fan. jonathan: it's super impressive. tom: so what do they do next? jonathan: just taking it? >> i would not like to see my city go against him. tom: or the tots for that matter. it was just great. i enjoyed it immensely thank you to cbs for covering it. jonathan: they've done a really good job. tom: it's better than some of the other stuff we have to see. jonathan: we won't talk about that. we will talk about this a little later this morning. earnings from walmart, we will see that in about 35 minutes time. chairman powell tomorrow tons of fed speak through this morning the bond market repricing off the backs of the next stop for the data story is jobless claims in about two hours and claims over the last few weeks climbing higher. lisa: getting the sense that perhaps they are going in the right direction. the issue no point is it screaming conviction on either side so you continue with this range of potential both sides risk that we keep seeing. tom: standard deviations, 25

tom: it is a lobster roll, nobody calls it a lobster roll. it is called lunch. jonathan: i do love a lobster roll. tom: they were more consistent years ago. people are trying to do their own thing. jonathan: i ordered an extra bun. you get so much lobster in the bun. tomt warm or cold? jonathan: a toasted bun. tom: is it cold lobster or do you do the hot? jonathan: i do not want a cold lobster in that. i would say, thank you. this weekend, all about sport. tom: the colonial. jonathan: the playoffs for the premier league. tom: coventry city, we should have asked ricardo about coventry city. jonathan: i am sure he would have had a lot to say. from new york, this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working

tom clark, one of his friends. he nominated tom clark to be attorney general of the president of the united states. tom clark, at the time was a year older than i am now. i am 44 now he was 45 at the time. clark admin and unexceptional law student and came to washington by accident franklin roosevelt wanted to hire tom clark's older brother was an exceptional law student, a big shot lawyer and for all accounts doing grand things and tom clark's older brother said no i'm doing very well here in texas. the senator from texas said to the white house we take his brother? they said send months and up they gave tom clark initially something of a lackey job and the department of justice. he worked his way up. what he might have lacked an academic ability he certainly made up for it and work ethic. he became an truman's attorney general and became very successful in being an aggressive attorney general. does not recognize he was not the best lawyer in the building. with the department of justice and say what can we do to advance the administration's agenda? now we expect that of our attorneys general. the pres

since 2012 tom, good boy indoor and then many, many thanks. tom. tricky has reached the final stretch of its presidential race, sundays run off pits incumbent president. richard tied up $31.00 against opposition, challenger canal killers, still roll of crowds turned out for one of the presidents, final electron rallies in is stumble. 31 looks likely to win the 2nd round, a voting after narrowly failing to secure a majority. a fortnight ago, his challenger also address supporters, is stumble. but calisto ruled who has also resorted to n t. my grand rhetoric to bolster his trances and promising to throw millions of refugees out of the country. much dw correspondent dorian jones, told us how it were. the one remains the front runner in this election, despite a host of problems on the domestic front. while the size of the question many posters are asking themselves why uh, ones uh, base has remains so loyal, turning out and rec, hold numbers, simpleton. given the economic was facing this country now it has to be said in terms of economic tomo, people

tom? rhre— how significant is this, tom? rhre hee— how significant is this, tom? t here-yer heeh— that the opportunities of brexit have yet been seized. �*frhhi; have not yet been seized. we here— have not yet been seized. we have-european- have not yet been seized. we have european union. have left the european union. there is a little bit more friction between trading between the and the uk. now the continent and the uk. now that's on the bad side of the ledger, but the good side of the ledger, but the good side of the ledger things we ledger was the things that we could the laws could do differently, the laws that change, the that we could change, the opportunities we could opportunities that we could seize. fact that this seize. the fact is that this government is now reducing its ambition on that side of the ledger only removing and changing a few hundred of those eu laws instead of several thousand of those eu laws. why? what i understand is this is about capacity and time. the civil service say going through all of those laws would take too much time by the

tom symonds there _ allegations in court next year. tom symonds there at _ allegations in court next year. tom next year. tom symonds there at the high court. thank you very much. an inquest here in the uk has found that the army missed opportunities to prevent the suicide of a "positive and bubbly" female officer cadet at the prestigious sandhurst military academy. olivia perks died by suicide in february 2019 after fearing she might be expelled for spending the night in an instructor's room. coroner alison mccormick found the army missed opportunities to get the 21—year—old mental health support before the incident. and failed to pass on mental health risk assessments further up the chain of command. major—general zac stenning, who took over as commandant at sandhurst in 2022, said he was sorry for the "�*systemic and individualfailings�* which led to her death. live now to our correspondent, duncan kennedy who was at the inquest this afternoon. duncan take us through some of the conclusions there and the reaction that there's been.— that there's been. you're right first of all— that there's

tom. tom harwood. he's tom. tom. tom is with— tom harwood. he's tom. tom. x—army guys. jeff ott— a couple of ex—army guys. jeff mt oom— a couple of ex—army guys. jeff mt eory .— a couple of ex—army guys. jeff mt out . att— a couple of ex—army guys. jeff and gary . and they've got proper and gary. and they've got proper oomp— and gary. and they've got proper oomo ooutpmott. — and gary. and they've got proper camp equipment. in fact, they've got so— camp equipment. in fact, they've got so must— camp equipment. in fact, they've got so must sot— camp equipment. in fact, they've got so much sort of,— camp equipment. in fact, they've got so much sort of, you know , i got so much sort of, you know, i tot-t— got so much sort of, you know, i tot-t mott— got so much sort of, you know, i tot-t mow, gos— got so much sort of, you know, i don't know, gas powered kettles and don't know, gas powered kettles mt ott— don't know, gas powered kettles mt at me— don't know, gas powered kettles and all the rest— don't know, gas powered kettles and all the rest of— don't know, gas

tom: you can jon: you can --jon: maybe even higher. tom, 25 in june. tomere in 29 minutes, there is no indication of unemployment out there. when i say that, people get upstate -- upset but claims are pretty good. jon: this economy is divided. manufacturing is in great and services is robust. most people will tell you that the headline level, this market is tight and even if they do stop at five, they will stay there and that is where there is -- some contestants --consensus. tom: i would link it into the stickiness and we talked about this yesterday or the day before. we were transitory before. how sticky we are and that means a better nominal gdp and that means better sales which is how nvidia is on fire. lisa: this is the confusion. we came into this year thinking big tech rate stops -- they are everything that you want them to be. that is basically big tech universe and everyone has missed out and that is what you see in terms of mutual funds. why would the fed move away from tight policy given the fact that the preeminence of artificial intelligence a

tom, tom is here in the next hour. tom, tom is were rekkrne— in the next hour. ey, as cabinet ministers go, she was the as cabinet ministers go, she was ene—wne- as cabinet ministers go, she was ene—wne ewi the equalities minister who did not the equalities minister who did ner eeree— the equalities minister who did ner eeree kn— the equalities minister who did ner eeree rn enw— the equalities minister who did not agree in any view of same eewekee— not agree in any view of same sex couples being— not agree in any view of same sex couples being in a civil pennerenw— sex couples being in a civil partnership or— sex couples being in a civil partnership or same same sex. so wereee— partnership or same same sex. so rereer ener— partnership or same same sex. so rereer ener rne — partnership or same same sex. so forget that the labour party in the forget that the labour party in we eere— forget that the labour party in the 2010 election— forget that the labour party in the 2010 election was opposed to eewek— the 2010 election was opposed to eewek nerneee— the 2010 elect

tom. >> tom: where is governor newsom on this? he came out strong about the reparations until they started to be a reality, and then we have not heard from him? he is hiding, because anybody who is realistic about this knows that it is a completely goofy idea and it's off the charts expensive, and not a good idea to begin with, but it's not a budget issue, it's a bad idea. but they are not going to be able to pay for it. they can't pay for all of the other stuff going on in california, so no it's ridiculous. i think that gavin newsom wanted to propose it so he could run for president and he thought they are never going to do anything about it and how they are doing something he doesn't want to run and hide. >> jesse: you know, congress, dana, is this going to get traction? >> dana: i don't care if it does, politically this is great per republicans come because under the democrats logic one person represented a bill that would turn into government spending in the future. which turned into all republicans want to throw granny off of the cliff and take your social security and medicare. so all the republicans can say that the democrats want to do is get $14 trillion of reparations and hang it on them. the white house has been very careful to say that this is for congress to decide. this is for congress. do you really think that your bases going to get away with that for how long? and i would love to see if joe biden were two debates in a primary, which he probably won't. but he will have to debate in 2024 it will be a great que question. >> jesse: and they will say i have a commission to study. >> dana: we know how that goes. >> jesse: judge jeanine pirro, cori bush is loud, she is influential on the squad the squad. >> judge jeanine: how many are there? four? >> jesse: that added a guide. it does he get preferential treatment for being the only male? >> judge jeanine: he gets to go on the ladies room. it >> jesse: will this catch fire? >> judge jeanine: no, 70% of americans are against it. and i just listen to cori bush, cori bush numbered rashida tlaib apparently not assisting officers killed in the line of duty coming out, they are real americans. she just said, cori bush, we need $91 trillion that we can then send the money abroad? wait a minute, i thought that this was to repay you for slavery, the civil war and people dying is not enough. this is absurd, what it is doing is creating the anticipation just like governor newsom did. he assigned the task force, he signed it when i got back, and then it comes back and he actually said, this is not really all about money. but what they were doing was creating division. a possibility of hope that it might happen and then creating the division of us versus them mentality. we are owed this, and it is ridiculous. >> harold: we have a history of redress in our country, whether as a government agency doing something wrong to an american citizen who then is entitled to money. we had it with the japanese who were in turn wrongly during world war ii, so we agree even when we talk about this with california, that there was a harm done through slavery. and we should not allow the presenters of the idea to distract us from the reality of what happened, we should be thinking about some form of redress on the part of some people. now i would agree with dana, $14 trillion, or i heard her say 97 trillion, judge, that is not going to -- >> jesse: did you say 97 trillion? >> jesse: at >> harold: we should not let that distract from what we are doing, and i'm not certain that the numbers even arrive with a mathematical equation that is that is justifiable, so i hope as a person that sits in that chair most of the time, greg talked about education and business investment and figuring out a way to get guns out of certain communities where people have more guns and access than they really need, those are the things we should be talking about. and if this conversation is a catalyst for something like that are in instigation for something like that then it will be positive, but we should rest assure that we are not going to get a $14 trillion or anywhere close to that. what we should also not deny that there is a history of redress in our country for wrongdoing. >> judge jeanine: including native americans, i think, and we can go back a lot. >> jesse: how far do we go back, that's a question? we have to go forward now. >> harold: history shows that slavery is our original sin. >> jesse: elon musk calling b.s. on work from home revolution! ♪ ♪ t our founders 116 days to debate and draft the u.s. constitution? 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>> jesse: it sounds like up filled. i used to go pro into the office, and i have changed positions. i think we should tailor to the industry and i stand by that. >> harold: you are in an industry where you have to go into work. everybody wants to see you here. >> jesse: only because i am on a show with four other people. if i could do seven by myself alone in a garage or truck, you would never see me again. >> tomo you agree? >> dana: i think it is interesting i'm part of it is the opportunity cost for not people here. and the ceos or sameness. but his specifically saying that it is moral wrong is you have some of the people on the manage and who are telling people they have to come off to the office while they sit in the hand is. that's what he is saying is morally wrong and i agree with that. there is a new group of the laptop plants, you sit on the laptop, go to the garage, hang out, go to the coffee shop in the park and everybody is schlepping end of the city back and forth, part is that there could be things you do improving the infrastructure so the people can get in and out easier, but it is strange. once you let people stay home for a while -- i get wanting to be there for the kids school play and the baseball games and everything. so there might be some ways for flexibility, but he is not wrong about the executives demanding people will be in the office when they are not. >> tom: that'

tom, - to make it more accessible. i was inspired by captain tom, mr i to make it more accessible. i141?» inspired by captain tom captain tom, mrtom, he made millions and there's no way on earth, how little is better than nothing, isn't it. after watching bbc news. you're watching bbc news. to el salvador now, where we're taking a deeper look at the president's crack down on gangs. the country was once the murder capital of the world. for decades rival gangs ruled the streets. but a year ago the country's young, media savy president declared war on gangs, imposing emergency security measures and giving police sweeping powers of arrest. thousands are now behind bars and the country is transforming before people's eyes, but there's a dark underside hidden from view human rights groups are dismayed, as are relatives, at the thousands of people being arbitrarily arrested. 0ur mexico, central america and cuba correspondent will grant has been investigating for a bbc news documentary called "inside el salvador�*s gang crackdown" he explains what he's found. el salvador has been synonymous with gangs for for a long tim

tom harwood there,— : tom, thank you very much. tomt was our— on low skilled foreign labour. that was our 2019 manifesto nioigo— that was our 2019 manifesto nioigo .— that was our 2019 manifesto nioigo . oni— that was our 2019 manifesto pledge , and it's— that was our 2019 manifesto pledge , and it's what we must pledge, and it's what we must ioiinon— pledge, and it's what we must ioiinonion. — pledge, and it's what we must deliver for. and— pledge, and it's what we must deliver for. and it's- pledge, and it's what we must deliver for. i: deliver for. and it's not xenophobic to say that mass and rapid migration is unsustainable , all in terms of housing supply , public services or community relations. nor is it bigoted to say— relations. nor is it bigoted to oon inoi— relations. nor is it bigoted to oon inoi no— relations. nor is it bigoted to say that we have— relations. nor is it bigoted to say that we have too- nor is it bigoted to say that we have too many asylum oooonon— say that we have too many asylum oooonon in— say that we hav

tom keene, and lisa abramowicz. tom: good morning. jonathan ferro, tom keene, lisa abramowicz. ets and i think you have been right, i think you have been right to overplay it. nvidia in a free market of $1 trillion has got to get your attention. 46,000 employees. jonathan: phenomenal. gains at more than 100% year to date on that stock. it has contributed decent gains in the headline level. the inject level on the nasdaq 100 up by more than 30%. year-to-date, this morning, up by more than one. the rally continues. tom: the rally continues in the bear market. i was surprised over the weekend, the bear market gloom was not as reaffirming or capitulation, whatever you want to call it, but futures up 25. let's get right into this, nasdaq 100 with the nvidia trail up 1.4%. jonathan: futures up debt deal, yields are lower, a debt deal that most people assume does not really cut spending by very much if at all. here we go, down nine basis points on a 10 year, 317. on a two year, a big move higher over the last couple weeks. we are back to 450 yields lower at the front end by six basis p

tom: should we get to our guest? jonathan: she is around the table with us. good to see you in person. tom just moved his auto sport magazine. tomou watch formula one? >> i do. jonathan: we will talk about fernando who is rumored to be dating taylor swift. tom: i'm so far behind on the gossip. jonathan: that's the story for another time. now we will talk about stocks. looking for a 10% correction, what do you see that will lead to that correction? >> we are seeing margin compression and the margins are slowing and earnings projections through q1 reporting, they continue to believe a flat growth year-over-year for the s&p 500. we are bringing our eps number down about 10% contraction. we think that's very reasonable in an environment you expect gdp growth, slowing consumer and still inflationary pressures. you are talking about a pretty reasonable multiple and that brings a slower. jonathan: why is tech absolutely crushing it in the last week? >> it's something we are watching but we think it's getting ahead of itself right now. you're also seeing it running ahead of itself in the yield markets. they are expecting fed cuts and th