the u.s. will increase its military presence in europe as noto makes a fundamental shift following russia's invasion of ukraine. nato leaders declare russia to be a direct threat. the alliance calls china a strategic challenge. ukraine's government releases a video of the moment a russian missile struck a shopping center monday, killing at least 18. thtie ronna tal america's health secretary tells us how the u.s. looks in the eyes of the world. >> it is hard to believe america is taking a back seat, backsliding when the world is moving to give women the kind of righ they should have a hat a long time ago. -- should have had a long time ago. laura: welcome to world newsamab we begin in spain. president biden announced the first time, the u.s. will station forces permanently on nato's eastern flank. the cause -- because of his words, president putin shattered pace. the alliance is having its biggest overhaul since thend of the cold war as the invasion of ukraine is in its fifthfrad o nth. politi

and within the u.s. -- he is a u.s. citizen today because he qualified under the section 329 immigration act. >> madam chair, i yield back. >> missed -- >> -- anywhere from a few hundred to a few thousand veterans are estimated to be reported. that is unacceptable. i am very proud that president biden has taken steps to not only stop deportation of veterans but to allow veterans to return and ensure immigrant servicemembers to them and their families and that they can become citizens and have access to military benefits. i have a number of questions. if you would mind keeping your answers short so i can get through all of them i would certainly appreciate it. ms. rogers the first several are for you. would you agree that it's the best interest of our national security to -- >> i would say my opinion is not relevant because section 329 immigration law they are eligible to apply and become citizens. >> we heard from previous witnesses that this is very important. if we had someone with a green card from south korea on the

u.s. supreme court move to overturn abortion right. a new poll suggests a majority of americans disapprove. u.s. futures across asia after we saw a rebound in the equity market with the s&p 500 gaining more than 3% friday, the best day since may. for the week gains were up more than 6%, the second-best reading this year. the vix is well below the levels we have seen it, past bear market. we are talking a level around 27. we continue to watch the oil space. we are seeing a little pressure in the u.s. session. in the asian session also we are talking about two consecutive back-to-back declines for oil prices since early april. that is to do with concerns about demand disruption given we have continued to see concerns about recession reflected in the treasury space. the 10 year holding around 313. look at this chart. we have seen a rally in the treasury space with the two year yield seeing its biggest gain since mid-may. we are already seeing the market price things now billy -- now, rate cut

u.s. stocks surged after last week's $2 trillion rout but marketwatchers warn of more volatility ahead. paul: elon musk tells bloomberg the u.s. is likely to face recession is a near -- in the near future. nouriel roubini says his best scenario is a hard landing. will get more exclusive insights from the qatar economic forum. shery: the yen six to a 24 year low against the dollar. this is the picture across wall street. u.s. futures muted after the open after the s&p 500 gained almost 3%. it was led higher by energy and consumer discretionary stocks. more positive sentiment today. president biden saying that a u.s. recession is not inevitable. we had treasuries falling, the 10 year yield headed toward the 3.30 level, the long leading data sources. gains in oil prices. -- the long and an leading their losses. gains in oil prices. and we are continuing to see anxiety, data showing existing home sales fell to lowest in two years, given that rates are rising. if you do price in the potential o

the u.s. at the moment taking a back seat and following the rest or is it actually leading , do you think, at least in terms of the war in ukraine? guest: in terms of the war, i think the u.s. broadly speaking has driven the process. the u.s. has contributed substantially more in terms of money and weapons. it has the advantage of having the real military you know that the minutes nato. frankly, the country that most european countries have cheerfully cheap ridden on for decades. there is an element of which the u.s. has a natural leadership role there. but it matters a lot to have other european countries indicate that they are prepared to do more. and we see that even a country like turkey can throw a spanner in the works over the issue of bringing in finland and sweden for its own purposes. so, there is leadership, but there is no domination. what we see going forward -- as indicated, macron has his own domestic issues. certainly germany. a complicated political situation three-party govern

u.s., i wondered how much money would you put into that? what kind of support would you push? elon: i have not decided, some non-trivial figure, i think. john: nontrivial would mean a lot with you. elon: sorry chadchart sittipunt john: nontrivial would mean a lot with you i was guessing. elon: it would be 20 or $25 million. john: you look again at what desantis says, and what trump says, and those sort of politicians make a large noise about china. i wonder whether you thought that was also an issue for you in terms of business in china? elon: um. no, i don't think so. john: you're a brave man. over the weekend, you tweeted your support of the one cryptocurrency. you have seen the carnage in cryptocurrencies at the moment, what is happening and do you still think people should invest, or is it more selective? elon: i have never said that people should invest in crypto. in the case of tesla, spacex myself, we all did buy some bitcoin, but it is a small percentage of our total cash assets. n

the u.s.. sunday, there will be no longer a need for a test 24 hours for your flight your donald trump accused of orchestrating a coup at his daughter does not believe the election was stolen. shocking conditions in the russian occupied city of mariupol as officls one of the risk of cholera. and in paris, an official report details a chain of failures by authorities handling the champions league final last month. ♪ a very warm welcome if you are watching in the u.k. or pbs in the united states or indeed around the world. the u.s. is lifting the requirement for international trelers to have a covid test within 24 hours of flights, from this sunday. the need for testing will be reevaluated every three months and could be reinstated if a new variant emerges. the move and's one of the last restrictions related to the pandemic in the u.s., where more than one million people have died from covid. michelle fleury give us more details. michelle: there has been so much pent-up demand, people set at h

the u.s. army, the honorable christine wormuth, to build on these previous discussions. there is no better leader today to discuss the role of the army on deterring actors across the globe. thank you again for spending time with us and we look forward to hearing your insights in the coming hour. with that it is my great pleasure to introduce jane, my colleague, who will make a couple of announcements and further introduce our esteemed guest. jane is also a board director and president and ceo in north america at a company that works on solutions to protect the integrity of products and documents. jane has held previous roles as deputy terry sector -- deputy secretary of the department of homeland security, assistant secretary-general of the united nations and member of the security council in the bush and clinton administrations. she has also had a distinguished career in the army pleading service in the gulf during desert storm and she deeply understands the importance of the topics we are di

the u.s. as the world's top power is coming to an end. when they won the cold war the u.s. declared themselves god's own representatives on earth, he said. people who have no responsibilities, only interests. they have declared those interests sacred. the u.s. and an its allies reject any from the conflict in ukraine and have massive economic sanctions. but putin says the measures aren't working. to crush the russian economy with a swoop, he says. obviously it didn't work. >> the u.s. accuses russia of worsening world hunger by blockading ukrainian ports and causing a massive spike in gas prices. putin again blaming the west. even higher prices threatening famine in the poorest countries, and this will be entirely on the conscience of the euro administration and the euro bureaucracy he said. a top russian senator saying he believes russia's invasion of ukraine prevented a larger war and was russia's only losses mount. >> we are all aware about the war which take place now, but they're absolute

the u.s. has announced it ll send an advanced artillery rocket system to ukraine that can strike targets up to almost 50 miles away. the rocket system is part of a new $700 million u.s. military package for ukraine that also includes javelin short-range anti-tank rockets, artillery ammunition, helicopters, and air surveillance radars. the white house said ukraine has given assurances that it will not use new rocket system to attack targets inside russia. russia blasted the u.s. arms package for ukraine saying the u.s. is "deliberately pouring oil on the fire." "the wall street journal" reports france and germany are also expressing increasing concern over the shipment of more heavy weapons to kyiv over increasing skepticism that ukraine can expel russia from the donbass region. unlike the u.s. and u.k., france and germany have been pushing for a negotiated cease-fire to end the war. this comes as russia appears closer to seizing the city of sievierodonetsk in eastern ukraine. on tuesday, the g

u.s. congress, white house events, the courts, campaigns and more from the world ofpolitics all at your fingertips . you can also stay current with the latest episodes of washington journal and live scheduling information or c-span's tv networks and radio plus a variety of compelling podcast. c-span now is available at the apple store and google play. download it for freetoday . your front row seat washington anytime anywhere. >> was in 2003 that philosopher and author and linguist noam chomsky first appeared on this program. and we've invited him back to take your calls and talk to you once more time. since 2003 he's written dozens of books and one of those books was consequences of capitalism. here's professor chomsky from 2021 talking about one of his more recentbooks . >> a major poll just came out from pew research in which they asked people, they gave people a choice of 15 serious problems and asked them to rank themin terms of urgency . that was between republicans and democrats and

the new u.s. ambassador to ukraine is going to be our guest, here live tonight, this is gonna be her first live interview since taking her post. reopening the u.s. embassy in kyiv. he, have of course, a city that is now newly-being targeted with missiles by the russian military. heck of a welcome back to the city for the u.s. embassy, but ambassador bridget brink is going to be joining us for any sluice of interview from kyiv. in just a few minutes. i hope you will be there for that. back in 2010, the u.s. justice department arrested and indicted nine people, win michigan and ohio, and indiana. nine people who are all members of a group that called itself a militia. the indictment, back in 2010 charge that these nine people intended to murder a member of law enforcement, possibly the family of a law enforcement officer as well. and then, when lots of other law enforcement officers would come from all around the country to be there for the big public funeral that would result, this militia decided

prices in the u.s. have shot up to record levels. saudi arabia has raised oil prices more than expected. the increase for july shipments to asia resume the streak of heights that started in february imposed last month. aramco also increased oil grade for the northwest, europe, and mediterranean regions. the british prime minister expects his own party to trigger a leadership vote in the coming days. the tour remembers may be on the cusp of getting the letters needed to force the confidence vote. calls for johnson to step down have intensified after bit -- after a report on illegal parties during the pandemic. rafael the doll has acknowledged his tennis future is in doubt because of a nerve condition in his foot. he said he relied on many numbing injections to clinch the victory. nadal says he is looking into new treatments but is not sure if he will play wimbledon next month. swiatek won the women's final against coco gauff. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more

u.s. bond market. yields are down 12% but a reversal of what we have seen the last few days. let's look at the dollar index. as the yields come down the greenback does as well. down 3/10 of 1% and we should mention the oil story. that is really a recession story. growth fears driving the commodity market lower. jon: that factors in to the stock at this hour. because there has not been willingness on the part of investors to move into any sector it is feeling company specific at this hour, whether you have a standout stock like moderna up 6.5%, or docusign going through a management shakeup. coming back to what you are talking about, you are seeing noticeable weakness in those highflying energy stocks. whether it is marathon or conocophillips down 5.5%. kriti: you used the buzz word. that is the focus for investors. jay powell testified on the topic before the senate banking committee. [video clip] >> do you agree that if interest rates go too high, too fast it could drive into recession? >

for example, in the u.s. we trimmed our underweight on u.s. treasuries, but we still hold that underweight position. i think that's largely the case, the focus in terms of market narratives has been on inflation at what the fed will do, less so on the growth front. we are not yet seeing signs of u.s. recession. yes, growth is going to materially slow from here, and at that point you would expect investors to position further up the curve. francine: some of those high-tech valuations that no longer makes sense. laura: we do see some value in terms of having tech in your portfolio as a hedge against growth risks we are seeing. valuations have come down quite materially of the past draw down, so that is attractive, but there are pockets of selectivity to make sure your portfolios are well protected. francine: espressos are well protected. tom: that is laura cooper, senior blackrock investment strategist, more of coming up next. francine: how long will boris johnson hold on in the face of a significant revolt from many of his and == mp's? we will

today, that u.s. ambassador to ukraine met with the ukrainian defense minister and told him quote we will increase the unprecedented level of u.s. assistance, we will do everything possible to strength ukraine on the battlefield. joining us now is the new united states ambassador ukraine, bridget brink, and she joins us from the ukrainian capital of kyiv, i appreciate you being here, given what time of the night it is right now in ukraine. >> rachel, thanks so much. it is great to be with you. >> let me ask you first, about the decision to move the embassy back to kyiv. obviously, that is something that the ukrainian government wanted, and that some other countries have done, and the united states has done this just within the past few week, you're just there within the past week, is it a danger to yourself and other u.s. personnel to have the embassy there, particularly with those missiles that we saw russia shoot in the ukrainian capital this weekend? >> well, i would just say diplomacy is risky, an

the u.s. sends $1 billion of military aid to ukraine us americans defense secretary calls this a pivotal moment in the war. a top pentagon official says the u.s. will move heaven and earth to make sure ukraine has the weapons it needs to fight russia. also, how a ukrainian grandmother has become the face of russian propaganda. the u.s. central bank raises interest rates in its biggest rise in nearly three decades. what will it mean for the global economy? and in afghanistan, while the taliban focuses on curbing women's rights, we hear from the families who are trying to get enough to eat. and the beloved british bulldog could be banned in the u.k. we will explain why. ♪ welcome to world news america on pbs and around the globe. the u.s. is sending another $1 billion of military aid to ukraine. president biden told volodymyr zelenskyy about the new weapons and a phone call this morning. this comes as the u.s. culling on nato allies to send more weapons to ukraine. the defense secretary speaki

the u.s. aviation, airspace sector, state and local governments. i support this bipartisan legislation and urge my colleagues to do the same. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentleman from south dakota. mr. johnson: madam speaker -- mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: joyed. mr. johnson: thank you, mr. speaker. let's start with the basics. what is advanced air mobility, a.a.m.? the bill and the next one deal with the fair amount with the concept. it's making sure we have in place a system so that remotely piloted or automated takeoff are in our existing air infrastructure. really incredibly important to do it in a way that's safe, just as the chairman said, mr. speaker, that's really where h.r. 6270 comes in. the advanced aviation infrastructure modernization act. it does establish a pilot program which would provide targeted grants related to the planning and construction of this a.a.m. infrast

the u.s. capitol. steve moore is a retired special agent with the fbi and he said the videos reveal the magnitude of what happened on january 6th. >> it was pretty devastating the type of mob action that went in there. and i think people sometimes don't realize what goes on during these riots and who the victims are even if you don't see these big death tolls or something. if you have people who are wounded, if you lose police officers, there were deaths in this, and it is important to show the magnitude of it. >> donald trump quickly responded to the hearing with insults. he called the committee members political hacks and complained had there were no positive testimonies and he again repeated his big lie about election fraud and voting irregularities. he ended by saying our country is in such trouble. president biden is hosting summit of americans in los angeles and said he hadn't had time to watch the hearing but he offered thoughts about the events of january 6 and the hearing. and here he

we think u.s. equities are overvalued but when you look at international markets we believe they offer more value. when he the about the next 10 years, we think u.s. equities are going to return to the neighborhood of 4.5% per year for the next decade. at international equities are probably going to produce somewhere in the 7% range. there are opportunities. tom: that is an interesting call in international equities but i want to go back to your point about u.s. equities looking rich. how much more of a drawdown you expect? greg: if you look at where we think about their value, -- fair value, you are talking about another 5% or so. if they were to get to the midpoint over fair value, we are talking 10 or 15%. there could be more pain but it depends on the federal reserve and how the economy shakes out the next few months. francine: thank you so much for taking such a keen interest in the market open, says if you are, he says he is interested in treasuries with a three-month 10 year spread, do you h

the u.s. strategic interest? if iran were to break out tomorrow, what is the united states prepared to do? if iran begins to enrich uranium by 90%, what is the united states prepared to do? using every bit of leverage and deterrence, how do we stop iran from mastering the weaponization for a nuclear device. i wanted to hear the administration's plans to better enforce the sanctions regime that we have put in place, that now looks like a sieve. i want to hear your plan for working in lockstep for european and other allies around the world to sharpen iran's choices. i want to hear their plans in detail for what the administration is prepared to do, to stop the growing oil trade between iran and china, and iran's oil trade with venezuela, and syria. how to end iran's hostage taking of our citizens. and i want to hear your plans for how the administration is going to bring home americans wrongfully detained in iran. with or without the jcpoa. and we can't forget about bob levinson and his family.

u.s. markets. traders gaining at the front end of the curve. u.s. officials working to arrange a call between president biden and xi jinping as tensions remain high. u.s. futures rebounding after the s&p 500 plunged. j.p. morgan is saying now that the s&p 500 implies an 85% chance of a recession in the u.s.. nasdaq 100 stocks also fallen more than 4%. we are watching the treasury space very closely because the selloff we saw earlier is completely reversing course and is a two year yield is falling close to a 3% level while the 10 year yield falling. wti gaining ground in the new york session. a little pressure in the asian session. remember, you also had other daughter falling by -- dollar falling by the most since march, 2020. the other side of the dollar's european currencies. central banks across europe are starting to tighten as well. the swiss franc is seeing its best rally since 2015 after that rate hike by the swiss bank, the first one in 15 years. the british pound is also supporte

u.s. stocks snap a today slide. >> the central bank has a lot more work to do to meet its inflation goals. shery: we are seeing u.s. futures up 1/10 of 1% after the s&p gained ground for the first time in three sessions. the nasdaq outperformed. the inflation concerns i laid a little bit. we are headed toward the nonfarm payrolls numbers on friday. we are expecting a slight cooling of labor demand. oil in the asian session extending gains. in the newark session, reversing losses of more than 3%. this has a lot to do with u.s. inventories dropping. a goldman sachs representative talking about a tighter market during summer. opec-plus increased supplies during summer but not enough. if you look at this chart and you see opec capacity, we are still far away from the pre-pandemic levels. there is a lot of skepticism about how much supply opec-plus is bringing to the u.s. markets right now. >> more oil in the markets could help to ease the investor concerns around inflation. ahead of the open,

and for the u.s. and the u.k., if it was not for them building these coalitions and filling in the gaps, i think that it would be much weaker. so u.s. is not obsolete. host: the american enterprise institute's dalibor rohac dalibor rohac joining us for the conversation. the phone numbers are on the screen. we will start with charles on our independent line in colorado. you are on, go ahead with your question. caller: first with a comment, then a question. i think that we should tie all the nato countries into take any country in that works with the west under nato, and then tie that to the tpp, and really put the economic screws on all of these misbehaving countries out there in the world to get in line. and i also want you to comment on jon huntsman, who you probably know who he is -- he said that there is no way russia can leave out of this without the removal of putin. he said this as body bags from russia was coming back. it was really upsetting to russians. i cannot see where the russian people a

the u.s. but elsewhere in the united states as well. good morning. guest: thanks for having me. host: on the articles we are reading from you, "u.s. drought worst in a millennium and it could get worse." how do scientists judge the drought over a time like this? what measures did they use? guest: great question. some of the surveys we've seen and the last couple of months take a look at a few things, preserved ancient tree rings. they use those to figure out what precipitation was like, what the water in a basin region was like, and we first saw a steady amount that the 2022 drought we are in is the worst in 1200 years. because of this additional survey from the bureau of reclamation, they looked at things like collection from bogs and lakes and they determined there had been a worse period around 280. in -- 200 a.d. water levels are low but they have been worse which might help water managers know if it can get worse. host: tell us, the factors that are driving this historic mega drought in t

the chair of u.s. -- the share of u.s. payments made by cash has declined by one third to 20% over the last five years and the share is even lower for people who are under the age of 45. it is prudent to consider how to preserve ready public access to save central bank money and that is where questions around the issuance of a digital dollar akin to the federal reserve's issuance of physical currency arise. in addition to the migration away from cash, we are seeing growth in new forms of digital private money such as stable coin. they don't share the same protection that underpin confidence and a commercial bank money such as deposit insurance, access to central bank liquidity and banking regulation supervision. they can lose their promise to value harming consumers and creating broader financial stability risks. we saw in the 19th century active competition among issuers of private paper banknotes left instability and efficiency and was so widespread that led to the name -- the need for uniform national currency and the p

i think legitimate u.s. activity to undertake tactical support of ukraine's right to defend itself in cyberspace is by no means automatically escalatory, and we shouldn't kid ourselves that russia's cyber activity somehow started 100 days ago. it has been going on for years. >> it will be interesting to see what repercussions there might be. we'll have to leave there it. fascinating stuff, ciaran martin in oxford. thank you so much. >> thank you. >>> after the break, we'll go to london for the queen's platinum jubilee and what celebrations are in store for today and whether her majesty will be attending. stay with us. emerge tremfyant®. with tremfya®, most people saw 90% clearer skin at t 16 weeks. the majority of people saw 90% clearer skin even at 5 y years. tremfya® is the first medication of its kind also approved for adults with active psoriatic arthritis... ...and it's 6 doses a year after 2 starter doses. serious allergic reactions may occur. tremfya® may increase your risk of infections and lower

the u.s. is a diplomatic mission or whether we reject diplomacy. let us own it. you do your job and let us know whether the u.s. is pro-diplomacy or not. the problem with the u.s. and iran is a complete lack of trust on both sides. iran is a danger to the united states and everything that is been said by folks prior to me about iranian dangerous activity is real. but in the iranian perspective the u.s. is dangerous and untrustworthy. the u.s. helped depose and iranian prime minister in 1954. the u.s. helped install the shah of iran ruled in a dictatorial fashion over iranians for 25 years. when the shah was overthrown, the u.s. against the state department suffice, take him sanctuary which led to the takeover of the u.s. embassy. because that horrible treatment of americans with the embassy takeover of the u.s. decided to support iraq in the iraq-iran war, giving military assets to iraq that were used against the iranian people. the u.s. gave intel to the iraqis that allow them to use chemical

u.s. trading day. here are the top market stories. 75 is the new 50, money markets and economists expect the fed to hike by 75 aces went wednesday in investment grade spreads. there are worries of 2018. coinbase will cut 18% of its workforce as the ceo warms of incoming recession on crypto. welcome to bloomberg markets. after the devastation we saw yesterday on wall street, it is no surprise that equities are higher today. i have very little conviction on the follow-through to this kind of biting. what happened yesterday? guy: we need to get some clarity from the fed tomorrow stuff we could get 75 basis points. we are up by a little bit. it doesn't feel like a massive turnaround tuesday. are we there yet in terms of hiking or is there more to go? mark, it's great to see you. >> it's great to show up randomly. guy: let's talk about capitulation and what this feels like. >> i think there are couple of things, we get lots of many capitulation points where the market breaks for a short time. y

as for u.s. futures. this is what wall street is looking like positive indication for all three of the majors. gaining ground things were not positive early this morning a way away from the u.s. market open a lot could change between now and then at the moment, futures pointing to a strong start. >>> this comes despite gloomy comments from the jpmorgan chase ceo. jamie dimon warning of the economic hurricane with the war in ukraine and economic tig tigh tightening he said investors should prepare for tough times. >> big storm clouds. it's a hurricane right now it is sunny and things are doing fine everyone thinks the fed can handle this. that hurricane is right out there down the road coming our way. we just don't know if it is a minor one or super storm sandy or andrew or something like that you have to brace yourself >> if you were surprised by the comments from jamie dimon, you would certainly be well positioned just last monday, we heard different comments from the investor day last week he highlighte

ashli babbitt u.s. listed shares tumble after chinese regulators did not a bloomberg report of talks to revive the ant group ipo. plus public hearings on the january 6 i talk begin assuming, with the house committee promising -- of the january 6 capitol attack begin soon, with the house committee promising new evidence. haidi: south korea's april current account deficit at $79.3 million. the april goods trade, falling to a surplus of 2.98 billion dollars. we are also hearing from the bank of korea governor, delivering a speech at an event on the 72nd anniversary of the central bank. he is talking about the economic damage from the inflation correct, saying damage to the economy will be greater if they may set the timing on the rate hikes. we did hear from the bank of korea's deputy governor saying that it is not appropriate to hike the policy rate by 25 rather than a big step like 50, as we have seen more consistently happening with other major central banks. we have heard repeatedly from policymakers f

we had u.s. stocks rebounding in the new york session, but right now, those gains are not being held in the futures trading space. we had weaker than expected economic numbers in the u.s., including jobless claims, near a five-week high. not to mention manufacturing and services numbers cooling in june. we might see a mixed picture in asia. right now we are not getting that clear direction that we were hoping for after the wall street close. annabelle: you have to say that, because we have the aussie 10 year reflecting the moves in treasuries now it could be a supportive factor for equities across the board. but we still have futures for austria pointed to the downside. you did say about the fears about pullback in demand for commodities, particularly important for the asx 200. bernstein said iron ore shipments could decline in the second quarter. in japan, nikkei futures are coming online flat. inflation data from japan is a major focus for this hour. cpi is rising further above the boj's 2% tar

detention of u.s. citizens. i.c.e. communicated they do not detain u.s. citizens. they cannot track data on detention of u.s. citizens. fiscal year 22, the agency failed to provide a report to this committee. is this the same report you committed to sharing in your last hearing before congress. we have received reports of another u.s. citizen detained in pennsylvania just this year. my question is, why has i.c.e. continue to fail to track or report this information the committee has requested for multiple fiscal years? >> very good questions, congressman. i will note that the information -- the reporting of u.s. citizen data is now on our public website as of about a month or so ago. we have been trying to get that official congressional report out the building. we are hoping to have it done before this hearing, but it was not successful. i assure you that will be out the door in short order. hopefully by the end of this week. the number -- compared to prior fiscal years, the number of u.s. citizens that were actually arrested are significantly less than what they

u.s. economy remains strong. he says look, this is going to be a very interesting summer season because the economy is still strong. you will have people traveling and that is why you will see gas prices spike and continue on this rally. that is why we are seeing what brent market and crude markets are doing this morning. they are still adding jobs at a rapid rate overall. there is a lot of concern that the economy is slowing up too sharply. we are not saying that. we are seeing moderate job gains. that kind of leads to a lot of questions about the central bank and what they're going to do. what really matters is you see the. that is the big one here. we will be looking for any signal about when they will lift interest rates. we will look at australia and india. >> let's have a look at the key question here. we are looking at indonesia, kazakhstan, india and poland. this is the reserve bank of australia. we are looking at where we will be seeing aussie rates. here is the implied cash rate.

alibaba u.s. distant shares fell it percent after chinese regulators denied a report that they have decided to discussions to revive the ipo of jack ma's ant group. also earlier, bloomberg reported that authorities were said to clear a path for ant to go public, sending alibaba's shares higher. tesla tripled its production in may from the month before, producing more than 30 3000 cars at its shanghai plant. tesla has gone to great lengths to keep its chinese factory running amid lockdowns, with staff working around-the-clock in a so-called closed-loop system. wells fargo shares have fallen under reports that it is the target of the investigation. it is being investigated over whether it conducted fake job interviews with female and minority candidates to satisfy diversity guidelines. it is the latest scandal to hit wells fargo, which is already operating under a federal reserve growth cap. >> credit suisse ceo thomas gottstein dismissed what he called a stupid question, over whether the bank is th

u.s. could face recession, saying that a soft landing will be very challenging. >> -- have made it more difficult for us to achieve what we want, which is 2% inflation and still a strong labor market. shery: that warning set to play on asia markets along with losses wall street and a rally in treasuries. china's president slams the suffering caused by sanctions, accusing some nations of weaponizing the world economy. u.s. futures continue to extend losses after we saw the s&p 500 fall, warning of the risk of recession not sitting well with the markets. energy leading declines. oil continues to extend the declines we saw in new york, already at the lowest in a month. we also had the former new york fed president bill dudley say that recession is actually inevitable. treasury futures at the moment are not doing much, the 10-year yield actually fell towards the 3.15 level. annabelle: the rally in treasuries is certainly setting the tone for trading in asia as well. we are looking ahead to a m

you like u.s. stocks. which ones? grace: we like the u.s. because we think there is more visibility of earnings growth and outflows around the world. even though we like the u.s. market, we think the forecast for 2023 is a little high. we expect downgrades in the market but the visibility -- and you have seen a big dull down when comes to equity valuations. overall, we will get a return on u.s. equities in the overall context. as to the bits of the market we like, we are looking for a few things. first, we want relation to the cycle, but we also want exposure to feed into the classic nature of this cycle. we look energy for some of back, utilities, and we think about decarbonization, when we think about automation, a lot of the supply chains. but also the war. and technology. francine: i don't know what to do with technology at this point. grace: the bits that we want to focus on our enterprise services parts. what we have learned about the consumer is that there is a cost-of-living squeeze and it is a pull forward of what we saw during the

. >> they believe they u.s. may allow a little oil on the market from iran even while a deal is being worked out because they need to keep this tight market well oiled, so to speak, to keep prices down. the focus is turning to saudi arabia. they are the world's biggest oil exporter, so what they do and say seriously impacts prices. they raised oil prices for asia by more than expected and this is being done as asia eases its covid-19 restrictions, helping boost man. it also resumes a streak of price hikes that started in february. the streak was only broken when aramco cut prices a month ago. prices soaring on this, brent crude, by the way, had hit, closed below 120. so they have already soared up to their highs. over the past year, we've seen oil prices well up over 50 percent as there has been less oil on the markets because of the sanctions on russia after it invaded ukraine. there've been the restrictions that have reduced demand in asia and those are just starting to come out. there's a big focus on price a

the u.s., 8.6%. markets repriced with a selloff in bonds and treasuries. you could get as much a 75 basis points this week from the federal reserve. jeffries and barclays putting that on the table. a pastor rate hike cycle then ringing forward the question of a recessionary risk. the spanish ibex down 1.4%. the ftse 100 lower by .8%. with our video's and picture, -- idiosyncratic growth picture, the contraction and the conundrum from the boe which makes its decision later this week. the cac 40 down 1.6%, politics also at play there. the first round of parliamentary elections were on sunday, the second round next week. questions around what that can meet of micron does not get his majority. the heavy selling that we saw in the united states and europe. mastec futures pointing to losses of 2.2%, the most exposed to that run-up in yields we are seeing. the yen did cross above 135, at their weakest level in 24 years. we heard from the bank of japan saying they will continue easing, it is the rate

senior u.s. official says sullivan reiterated washington's one china policy while expressing concerns about beijing's actions across the taiwan strait. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. shery: still ahead, we will hereby asset management says the stimulus will likely delay any risk of a global slowdown until 2024. jp morgan is among the market watchers predicting a 75 basis point fed hike on wednesday. joyce chang joins us now. -- joins us next. this is bloomberg. ♪ ] >> we are unlikely at this stage to go deep into a recession. it is possible, i would put 5050 odds. that is ok. haidi: morgan stanley ceo james gorman. our next test says re -- our next guest says recession -- always great to have you with us. where do you see the trajectory of risk particularly as we talk about the possibility of 100 basis points from the fed? joyce: the focus will be

can the u.s. actually use it? do we have enough refiners to make the right products can use the right kind of oil that saudi arabia has? does it materially make difference to biden's problem, how much it costs to fill up your tank of gas? amrita: not really because the fine product market are far tighter than crude markets because we have been shutting down refineries. it's close to 3 million barrels per day refining capacity since 2019. the biggest change has been around china. china has changed its policy since 2021. it does not want to pollute the economy and give access product to the rest of the world. china has 3 million barrels in refineries but it is not running them. as a result, the market is extreme type. u.s. refineries are running flats. there is just no more refineries to take the oil. europe has bigger struggles absorbing more in oil because it tends to be more sulfuric, more acidic, and european refining -- the quality mismatches there. u.s., we do not have enough mining cost. anna: back up to supp

we think u.s. sovereign bonds are getting more attractive, but we have to see volumes getting back to 3% before we could consider adding more. yousef: interesting moves at the front-end of the curve, janet, great to have you on the program and delve into your ideas, that is the head of market analysis at brewin dolphin. opec+ agrees to open it steps faster, the latest on the world's energy markets next. this is bloomberg. ♪ yousef: welcome back to the open, we are 23 minutes now into the european trading day. on the stoxx euro 600 we are up a third of a percent, with gains led by the dax, the feedthrough from asia and the united states overnight was positive. we are also higher on u.s. equity futures. speaking out, i want to get to an important headline from tesla that has just gone red. on announcement that there is going to be a 10% staff cut. they are going to pause hiring and reduce the workforce. at the moment, we are still waiting for further detail, but tesla has already been under signifi

. >> u.s. officials are trying to arrange a call between president biden and xi jinping as tensions remain high. >> u.s. futures are gaining ground after we saw the s&p 500 losing ground in today's session. we now have a j.p. morgan strategist saying the s&p 500 implies an 85% chance of arrest session. there are fears we could see i policy ever after the biggest hike since 1994. the nasdaq 100 moving more than 2% and the two year yield around the 3% level. tenure about the 3.2% level. the asian session is under a little pressure after a rally. no matter the risk off sentiment we saw, supply concerns are still moving the market. we also have the dollar plunging by the most since march 2020. this is to do with what is happening in europe. look at these currencies in europe. we are seeing a little move in the asian session after a huge jump against the u.s. dollar. the swiss franc father biggest rally since january 2015 with the swiss bank removes to a currency cap at a time when inflation is high

u.s. officials. g7 working on implementing price cap on russian oil that can be achieved of curbing russian revenue and easing impact on the world. car targeting services is a promising avenue to deny russia re revenue. a lot of questions over this story that what a scheme would look like of a price cap on russian oil. g7 will align on tariffs to ensure russia pays for the war they will impose sanctions for those responsible for war crimes or human rights. they will provide budget support for ukraine and g7 leaders to target those engaging in invasion and backfill. that is coming through now out of the g7 summit steve is on the ground and will break it down in detail. those are the latest comments around the potential russian oil price cap. president biden called for the group to stay together to get agreement across the line as the leaders meet in the bavarian alps and covering transport crude would be limited to europe talks on the proposal will continue today i brought you the latest li

the u.s. and they are getting worried. dani:, pau -- all right, paul, thank you very much. bank of england chief economist says policymakers sacrifice growth in order to bring down inflation in the u.k. he said the boe was ready to act more aggressively. >> you should be confident that we would do what we need to do to get inflation back to target. at least in my view, that will require further tightening of monetary policy overcoming let's. dani: let's get straight to bloomberg economic's chief european economist, jimmy rush. will these numbers give us more of a hint as to where and when inflation will peak? jamie: we are expecting to come -- inflation to come in at 9.1% in may, which is not much different from the a core number -- accor number of 9%. that's what they will be looking for in the detail of the numbers. when it comes to the peak, that's going to come in october. we know that because that's when regulatory prices go up. we are expecting costs to lift inflation to 10.5%. the peak

for longer than it has in the u.s. if you start to see demand numbers go down there, demand for gasoline, for diesel, etc. -- and also industrial production lag -- that could be an indicator for the u.s.. taylor: ellen, usually engaged and interactive audience we have here on bloomberg you're getting some fewer questions. i'm going to ask you one we are getting. you are thinking about the refining capacity for more russian oil, given the waxing nature of russian crude, how do you think about the refining ability that may be maxed out due to the nature of that specific oil? ellen: that is definitely an issue. crude quality is an issue. a lot of the refineries in asia, in china, want to import that light crude that the gulf countries make, and also that the united states makes. remember that you can combine different types of crude oil together to get the exact mix you want for your refinery. i also think at this point, for a lot of these refineries their margins are not so good, but also the prices are so high that if t

the u.s.. futures in your appointing lower by around five heads of a percent. futures stateside also pointing lower. between the 10th of a percent for the s&p e mayonnaise and nasdaq as well. when it comes to currencies base, euro-dollar firmly in focus given the decision from the european central bank. currently at 1.07, gaining just .1%. we are keeping and i on the commodity space. 123 is what you are getting on brent. the u.s. 10 year at 3.03. concessions for the u.s. benchmark. as we look ahead to the cpi print on friday to inform what happens next, how hard and fast they go, and whether september is still in play given the markets are baking in june and july. >> between that cpi report and the ecb today, you get that feeling for the bond market it is a settle now, ask questions later mentality. he mentioned some of the losses, msci asia pacific down a quarter of a percent. those losses led by hong kong tech, concerns about shanghai having to do a mini lockdown, reminding us that covid zer

the u.s. and canada. their hope is to help the u.s. and other countries divest from russian energy. this is just over two hours. >> yeah, i could give you something a little stronger. the meeting will come to order. let me first of all welcome all our guests, we are just so delighted to have you all and i want to thank you again for the gracious hospitality that was shown to me as i visited with you all, and i really enjoyed it and the weather, it was all canadian. and i enjoyed that also. we'll get started. today, i want to welcome our friends from the north, from canada, to continue the committee is very important conversation about how we pursuit two critical goals -- addressing energy security and climate change. these two goals aren't mutually exclusive and it's imperative that we address both. we all agree that putin has used energy resources as a weapon to inflict pain on europe. we all agree that putin has used russia's oil and gas resources and a weapon to inflict terrible pain on the