. >> right so how is pimco navigating this? first of all, are you still underweight bonds? do you think this will go farther? >> if i had a chrirystal ball, ' slightly broken. of course the market overshoots and it would be difficult for me to tell you the exact moment the reality is we're not that far away from a point where it makes sense to add risk. and then the fixed income market has an ecosystem with many different opportunities from investment grade to mortgage bond a lot of these things happen to be attractive now and are going to be more attractive over the months to come and the skill is to how to add risk in your portfolio and how to find opportunity. in a volatile world, it makes a lot of sense i think that's what we look forward to and that will be the opportunity for months to come. >> the bond move, though, has been fierce and intense. do you think we're near the peak at least when it comes to treasury yields in this episode? >> once again, my crystal ball hasn't been working so much. i wasn't around in the '70s, but i was around in 1994 and i remember the m

joining us is tony from pimco. give us some color about what's happening today. >> hi, sara. well, obviously there's a lot of open-ended issues that the markets are having to deal with and readjusting to the idea of higher inflation, higher interest rates, just huge uncertainty surrounding the outcomes of these things, not to mention geopolitical issues. so there's lots of turbulence. what does a pilot do you seek out smoother air. how do you do that of course for an investor and we would say this at pimco, we take a long-term orientation. for the bond market that means getting back to bonds. this is what you've been waiting for. there were 18 trillion of negative yielding bonds last summer today there's hardly any this is exactly what you've been waiting for. the aggregation of all bonds in the u.s., including treasuries, corporates, mortgages, et cetera, the yield on that is probably around 3.60, 3.70 today with the move we've seen with a little alpha, et cetera, looking at a yield to maturity potentially at levels that are pretty good for a diversifier. that's the way to t

pimco, a global leader in active fixed income. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq as a business owner, your bottom line yeah... oh. don't worry i got it! is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >>> welcome back to "fast money. the street brace ago for another wild week next week. earnings season resumes. investors get key inflation data what is on our traders week ahead watch list steve grass owe, you go

that exposure does leave pimco as one of the biggest players in this week's drama. on tuesday there is a key meeting of investors. if that happens, we understand pimco may not translate to major additional losses because they have already written down a lot of their exposure to russia. haidi: china suffering a setback in the attempt to sign a regional trade and securities deal in the pacific. we look at that means for beijing's new government. ♪ david: you are watching daybreak australia. eu leaders have a great to pursue the partial ban on russian oil that paves the way for a possible sixth package of sanctions that forbid the purchase of crude oil and petroleum products from russia delivered to member states by c. according to people familiar with the negotiations, a temporary exemption for pipeline crude is included. i fed governor is backing rate increases of .5% for several meetings. he says he is not taking 50 basis point hikes off the table until inflation comes down closer to the 2% target. he says the model suggests quantitative tightening will be equival

pimco, a global leader in active fixed income. what do you think healthier looks like? cvs can help you support your nutrition, sleep, immune system, energy ...even skin. so healthier can look a lot like...you. cvs. healthier happens together. >>> welcome back to "worldwide exchange." first you have amd they're forecasting strong revenue for this quarter and for the full year. the data center boom continues to look at the demand. consumer demand for pcs has been softening post-pandemic. later on lisa su will be on exclusive in the 9:00 a.m. eastern hour be sure to tune in for that. >>> stock number two, match group sayss ceo will be resigning. matching first quarter results that beat estimates, but the second quarter is below analyst expectations match group shares down by 6%. stock number three is starbucks. second quarter earnings were in line and revenues slightly beat forecasts. global same-store sales rising 7% thanks to more orders and higher prices. the company is suspending it for the rest of the year there are other challenges including covid and the lockdown i

jerome schneider of pimco. futures down 0.8% on the s&p come on the nasdaq, negative by more than 1%. target heading south and further south. down 22.6% in early trading. this is bloomberg. ♪ ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. shares of target fell more than 20% in early trading. the discount retailer cut its profit outlook, saying a surge in costs during the first quarter shows little sign of going away anytime soon. targets fuel and freight ill was $1 billion more than expected. additional hits came from higher pay for warehouse workers and lockdowns driven by overstocked inventory. the eu considering whether to use proceeds seized from russian oligarchs to help rebuild ukraine. the eu will also propose issuing joint debt. ukraine's foreign minister told his european counterparts that the bill could reach $1.1 trillion. a tightening european banking transformed the investment bank at ubs and then battled santander over its botched attempt t

pimco, a global leader in active fixed income. (vo) this is a place for ambition. a forge of progress. a unicorn in training. a corner to build a legacy. a vision for tomorrow. a fresh start. a blank canvas. a second act. a renewed company culture. a temple for ideas. and a place to make your mark. loopnet. the most popular place to find a space. >>> welcome back here are things investors are watching on the first of may april ism manufacturing and march construction spending. earnings season continues. among names reporting after the closing bell clorox and expedia and mgm and ballots will be counted in the amazon warehouse union election today this follows the vote after the filming center in staten island where workers cast ballots in favor of the union. >>> let's get back into the market and some looking for reaction after the selling in april. jon najarian of rebellion is joining us jon, thanks for being here >> thanks, frank they have been buying and purchasing puts all the way down in the spy, which is the s&p 500 mini contract as well as the iwm. they have

pimco is part of a panel of dealers and investors that meet today to divide whether the swaps should be triggered. gsk has agreed to buy a vaccine maker affinivax. it is buying up next generation vaccines while it plans to split with its consumer health unit. last month gsk announced a takeover of sierra oncology. 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. ritika gupta. this is bloomberg. t'was a difficult year, and yet a prosperous one for those dreadful capulets. something must be done. my son romeo has sought counsel with some strategic advisors. they suggest that we marry our fortunes with...the capulets. blasphemy! our two households combined in a merger? forgive me, lord montague, the integration would be a... a... nightmare. fear not. these advisors are ey. they managed one of the largest mergers in history, creating billions in value. billions? they've divined a strategy to help us reach new frontiers and leverage our synergies. aren't they just accountants? not at all. they hel

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pimco, a global leader in active fixed income. - super excited to open up my diploma from southern new hampshire university. - i'm nervous, i'm excited. - [man] okay, let's see it. let's see it. - oh my gosh. - as soon as she saw this, i did it and it's here. - [man shouting] yeah! (upbeat music) - [narrator] next term starts soon. visit snhu.edu >>> countdown is on. less than 90 minutes before the fed decision, a critically important news conference. steve liesman is there you can bet on a question from steve. and you can get answers from jeffrey gundlach he will be here for overtime the cnbc survey polled managers where to invest between now and end of the year, taking obviously the fed into consideration. energy, the top pick from a sector level, followed by technology one interesting change from the last few weeks we polled them end of march. 62% financials were a top pick today, liz young, that answer is zero can you believe that nobody nobody nobody wants to invest in financials take sofi out of the answer. >> i'm a little surprised, there was nobody that tells me there's a decen

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pimco, a global leader in active fixed income. lemons. lemons. lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less. >>> after the close today, airbnb reporting yet another excellent set of numbers latest in an unbroken season of earnings since the company became public in 2020. renting someone's house via airbnb is the safest way to take a vacation and people started getting vaccinated and now again it will come back and airbnb is cleaning up. night and experiences booked up 59%. year-over-year gross booking value up 67% retch up 70% and they're almost break even. i could argue they're making money and they're going to be really lucrative because they 1.2 billion and they're looking for 100 million. and management gave strong guidance for the current quarter and i'm surprised it is only up 5% in after hours trading. this thing will be up much more. this could be a terrific buying opportunity. don't take it from me. le let's dig into it

pimco, a global leader in active fixed income. >>> welcome back we're off session lows but our third concern, corner of concern for the stock market is definitely housing the rising 30-year mortgage rate is hitting the home builder names. lgi was down 4%, d.r. horton down 7%. the home builders have fallen in 16 of the last 18 tightening cycles who can weather the storm? ken has been warning us about the effect of tightening cycles. are you feeling like you're anywhere closer to the sector being a buy here >> no. in short, our wall of worry thesis, as you noted, 16 of the last 18 cycles back to 1969, the stocks did fall 30%. that did not include a recession. as niall highlighted, we are ask youing towards trends that we saw in the first half of the '70s, not the second half of the '70s and it's not priced into the stocks yet because they don't bottom until the end of the credit tightening cycle. >> we are, wouldn't you say, about 30 manual count off the highs? how much further is there to drop for the builders? >> well, more is obviously our baseline assumption, because i think the re

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pimco, a global leader in active fixed income. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >>> welcome back we have an earnings alert on mosaic the fertilizer producer falling after hours kicking off a huge week of earnings with a modest eps beat and revenue miss. they mention the uncertain outlook caused by the russia ukraine outlook and that's unlikely to change by the second half of this year. tim, you trade in these stocks also a potash producer it's up about 4% after hours >> i've seen a mixed bag they're all down 10 to 20% it's interesting that they're pointing at russ

pimco, a global leader in active fixed income. >>> welcome back, everybody. there's been a lot of damage done to high valuation stocks, but there are still a number of names in the nasdaq 100 with triple-digit -- are we talking price to earnings multiples? >> we are talking forward price to earnings multiples. there's a debate here, right you know, folks say looking at forward pe ratios is a better indicator of what it could look like in the future but then there's always that whole, well, it's estimates we're talking about, right these are not actual numbers we know analysts don't always get it right with their predictions. but if you want to take that forward tilt towards looking at valuations, let's start with the forward pe ratio and do it for the nasdaq 100 overall according to data from fact set, it currently sits at right around 22 times forward anticipated earnings at the highs in the post-pandemic recovery, it was closer to around 31, so there's definitely been a valuation compression. but to kelly and tyler's point, there are still a handful of stoc

pimco, a global leader in active fixed income. >>> welcome back to "fast money. the dollar falling today after the fed's big rate hike. but the chart master says its overall continued strength could be a headwind still for stocks he is sounding the alarm on one sector in particular let's go to carter worth of worth charting carter, what do you see? >> sure, all sorts of things but something for everybody today. think about it friday the dow was down 939 points, and today it's up 932. here we are basically from last thursday bears, bulls, but still the fight goes on. staples, consumer staples, let's examine the circumstance and relation of the dollar first slide. we know that certain companies do a great percentage of their business overseas. so you can see the names here, but these are big names, and all of them have 50% plus of their sales outside the u.s. and so a strong dollar hurts those type of companies versus united health, a top 15 company has zero percent of its sales outside the u.s. for reasons that are obvious the next slide, just as a summary, basica

pimco, a global leader in active fixed income. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones >>> welcome back to "fast money. the fed is set to raise rates as it t tries to break the back of inflation but there is real structural issues that could complicate things. mortgage rates are at the highest level and auto prices are pushed to all-time highs appliances up double-digits so is the fed just an impossible position let's bring in former national economic council chief economist joe borno. a lot of people say that marks are doing a lot of work of the fed. but housing prices will stay elevated because of low inventory and pent up demand for housing, et cetera so does this mean the fed could be forced to put on the brakes harder than we think >> that is what investors right now are saying if the market has 300 basis points of tightening, prices in from march of 22 to 23, that makes it like the '94 cycle and upwards of $900 billion of balance shee

pimco, a global leader in active fixed income. you ever wonder why people are always on their phones? they're banking, with bank of america. look at this guy. he bought those tickets on his credit card and he's rackin' up the rewards. she's using zelle to pay him back for the hot dogs he's about to buy. and the announcer? he's not checkin' his stats, he's finding some investing ideas with merrill. and third as you know in baseball means three. digital tools so impressive, you just can't stop banking. what would you like the power to do? >>> welcome back to "fast money. look at shares of apple. they were not immune to the sell-off today and down 6% and the nasdaq closing out the worst day since june of 2020 and it is options traders betting that maybe, just maybe, the worst is over and the bottom might be in for apple. mike khouw joining us for the "options action" and what may significantle better times ahead? >> when you see big volatility, you see big volumes. apple is always one of the biggest single stock options that we see.

pimco saw clients pull money out for the first time since the start of the pandemic. investors fled fixed income securities as central banks began raising interest rates. a record loss at the vision fund unit in the world's largest tech phone, dealing with a -- tech fund, dealing with a stock market rout. and bloomberg has learned that -- has begun an internal analysis to split off operations coming from the bank's largest shareholder, which wants to improve returns. about 65% of pretax profits last year came from asia for hsbc. the bank argues much of that is business with western clients that gets booked in the region. that is the latest business flash. guy: thank you very much indeed, angel. where hsbc goes with this next. joining us is tom metcalf. angel just bringing us the story. how should we interpret the idea that hsbc is trying to figure out the implications of it? tom: a couple interesting things here. first, the analysis is being done and it looks likely they will have this thesis going forward, so that is a clear view of how hsbc feels about this sort of

pimco saw outside clients pull money out. the bond manager says $14.3 billion went out the door in the first quarter. investors fled fixed in some spirit -- fixed income securities. coming up, and investment firm says market volatility is here for a while and with high dispersion in the markets, the environment is rife for stockpicking. ♪

pimco and blackrock set to start debt talks. a credit group, sri lanka defaulting for the first time in history the economic meltdown has led to an economic crisis. $250,000 to -- who said she was sexually harassed by elon musk on a corporate jet. he calls the accusations untrue. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create [applause] >> thank you. very generous. president, thank you for that introduction. it is great to be back in south korea. i am honored

we are having tea and speaking with mohamed el-erian coming up, the longtime member of pimco, longtime thinker who has incredible views on everything. jordan rochester will give us his sense on the dollar and christian malek of j.p. morgan securities. tom: interview of the day. lisa: you have gasoline prices rising tremendously, energy prices causing a consumption crisis in the u.k., and how do we offset at a time of escalating conflict in ukraine driven by russia. tom: jordan rochester will join us. that's about dollar dynamics. christian malek will join us from the 100-page opus from j.p. morgan. one of our great contributors to bloomberg, the german from the university of cambridge and queens college and all his work on the game theory of the global system, mohamed el-erian this morning. i loved your note because it is front and center right now. the dollar matters and a dollar too strong gets the way of a recovery. are yet the point where it's a problem? momahed: first, welcome to the u.k. had things for bringing us the weather. it is wonderful to have you here. we are near the poi

pimco and blackrock are among the firms to -- the sri lanka suit. wellington is also among the members of the creditor group. sri lanka is set to default for the first time this week in its history. this is amid lockdown, protests, and a political crisis. the world only has 10 weeks of wheat consumption left in reserve. that is according to agricultural analysis from grow intelligence. other estimates are not as dire. still, high crop prices are putting millions at risk while grain supplies for. -- fall. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. tom. tom: thank you. coming up, we will round up what has been a volatile week for markets from what we expected next week as well. that is up next. this is bloomberg. ♪ tom: happy friday and welcome back to the open. we are 52 minutes into european trading day. a solid session so far with the context of the rallies we have seen the past few weeks. whether or not this is a bear market ral

pimco has a meeting to decide whether russian swap credit defaults will pay out. the income fund it sold more than $100 million of the securities to banks, including barclays and jp morgan in the first quarter. u.s. investor todd boaley has completed his $5.4 billion takeover of chelsea football club, after 20 years of ownership under russian billionaire roman abramovich, who is forced to sell over sanctions. the deal means that for the first time more than half of the teams in the english premier league are now backed by american money. hon hai iphone maker expects supply chain backups to ease. he told new shareholders the company is more upbeat about the 20 sales outlook. they are apple's biggest assembly partner. francine: laura wright in london. eu leaders agreed to pursue a partial ban on russian oil, we will look ahead to their meeting today, and discuss inflation. our maria tadeo is on the ground. markets putting a lot of pressure, trying to work through higher inflation and the higher cost of oil, for how aggressive central banks will need to be to rein in

coming up, libby cantrill, pimco head of public policy, on "balance of power." this is bloomberg. ♪ desig more of what you earn. this is the planning effect. what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. - [announcer] imagine having fuller, thicker, whoa. more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) >> from the

we will also see what it means for pimco and the overall group, if they are able to call in estimates. we also saw people being concerned about is the company had to give up its license to advise u.s. mutual funds and some u.s. pension funds. the company is in talks with another asset manager due to this loss of license, so it is not great for the reputation going forward. francine: what does it mean for global investors' reputation going forward? is there a danger that goes forward there will be more outflows because people are like, i am not sure about this, or do you think they will forget about it by the time the fourth quarter comes? >> the market always has a short memory when it comes to things like that. if they are able to produce the report performance -- the performance, people will still go. if you are the decision-maker for allianz management, you need to have hard due diligence to make sure you are not missing anything. i want to give them some credit that they accept this bond stability, that they plead guilty. that is a very rare thing to do. usually financial companie

pimco has emerged as a keep later -- key player that will decide where the russian credit default swaps will pay out. they sold more than $100 million of securities to banks, including barclays and jp morgan in the first quarter. that added to almost $1 billion in bets on russia by credit default swap. a u.s. credit investor has completed his $5.4 billion takeover of chelsea football club. it ends almost 20 years of ownership under roman abramovich, forced to sell over sanctions because of the wharton ukraine. more than half the teams in the u.s. premier league are now owned by american money. a decision not to complete a deal until antitrust problems are dealt with. the company is working to negotiate a solution. toronto-based rogers has been trying to acquire shot in what would be one of the largest mergers in canadian history. telecom italia seeking evaluation for the landline network it plans to sell. sources say the proceeds would allow the former phone monopoly to cut its multibillion-dollar debt pile. on sunday, they announced plans to sell off the network, shifting control to th

. >>> pimco is being sued by workers over a fraternity at the firm they said some workers are promoted less and are often denied mentoring opportunities bloomberg says they have denied those claims and the department of justice is suing steve wynn they're looking to force him to register as a lob byist over the foreign registrations act. they claim that over multiple occasions, wynn asked president trump to send a chinese businessman seeking asylum in america back to china. it adds he was acting to protect his business interest. >>> now back down to the marks and perhaps one of the key stories of the year, and that is the continued clobbering of technology stocks. big names you know like microsoft not being spared but could that stock which has lost 600 billion since last year have some room to run on the upside thanks to the cloud and gamers steve joining us now with a look at microsoft. >> yeah. microsoft is feeling the pain. last fall, it was on its way to a $3 trillion market cap, and now it's well under $2 trillion. it was seen as a safe haven for investors to park their money. bu

in just a few minutes we'll look at pimco's new playbook from erin browne, can't wait for that. >>> first we begin with our talk of the tape. less than 24 hours before the fed decision on interest rates a decision that comes just as in some are suggesting the market could be ready to rip higher, yet others, including some big names, are urging caution. let's find out where gregory branch

i'll speak with pimco's erin brown. but we begin with our talk of the tape this hunt for a bottom whether investors should be more or less confident that one is actually getting close. did today's action provide any signals whatsoever let's ask avery cheffield, senior portfolio manager back with us. it is nice to see you again. >> you too, scott. >> things changing are we answering any questions, are we c

we're back in a moment >> announcer: the bond report is brought to you by pimco, a global leader in active fixed income that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward

john ford brings us the interview with the ceo >> announcer: the bond report is brought to you by pimco, a global leader in active fixed income [bushes rustling] [door opening] ♪dramatic music♪ yes! hon! the weathertech's here. ♪ weathertech is the ultimate protection for your vehicle. laser-measured floorliners... no drill mudflaps... cargoliner... bumpstep... seat protector... and cupfone. ♪ what about my car? weathertech. >>> if you wait long enough, you will find that the dow had turned negative again, and now the dow has turned positive again. it was down 300, and it was then positive, and then it was negative and then it was positive, and now it's positive again. by 53 points they told me when we were in the break, they said we're going to do a market update because the dow turned negative again. i come over here, say hello to john ford. >> there's a little green line. >> my goodness now to our working lunch. >> the chart looks like christmas, red and green. >> that's why you are here until this year a great stock market was one that went way up an now a lot of investors w

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