lizzy: good morning, this is

"bloomberg daybreak: europe," i'm lizzy burden in london. stocks gain in asia along with u.s. futures, as jay powelfirmse federal cut rates this year. but he says the central bank is in no rush to listen policy. >> losing rates too soon or too much could result in reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2%. lizzy: oil rolls on, brent crude flows with $90 a barrel as opec+ sticks with supply cuts through. janet yellen goes to beijing. the u.s. treasury secretary warns against decoupling from china, but says trade must be on a level playing field. good morning, welcome to thursday. jay powell sticking to the script yesterday, wait and see mode is still where the fed is at, and that gave relief to stocks and bonds yesterday.

futures pointing to an even higher opening this morning on both sides of the atlantic. if we flip over to the cross as a picture, ultimately, the fed chair's comments didn't really move the dial when it comes to where the markets are in terms of bets for when the fed cuts are coming. you had treasuries ending broadly higher yesterday, but now steady. and now all eyes turn to the jobs report tomorrow. remember, powell said last month that unexpected weakening in the labor market could warrant a policy response from the fed. you have got the dollar a touch weaker, its close relationship with the fed bets seems to have evaporated, but gold very much listening to powell. the yellow metal settling above $2300 an ounce yesterday on the back of those comments. it is just a touch below that now, but every day this week it is it a new tie on the central bank of it and the geopolitical risks.

speaking of which, oil as i say, flirting with $90 a barrel, after the opec-plus meeting sticking with the current supply cuts. could we see $100 a barrel by the late summer? jp morgan says yes. we will dig into all of that throughout the program. let's get over to asia now. we've got lots of holidays happening there, but vonnie quinn can take us through what is in action. vonnie: plenty going on. thanks to some of what you just laid out there. china on holiday, hong kong on holiday, but returns on friday and we have taiwan on holiday as it tries to assess damage and rebuild, and also find some more survivors from the island's earthquake yesterday. markets around the world it seems are reacting to what fed chair jay powell said yesterday about continuing to expect to see rid cuts later this year. and to wait and see what happens with inflation data. don't forget that services data that came in less hot than

anticipated. the fed has been waiting on services to show cooling down, let's put it that way. if you look at the msci asia pacific index, we are up 0.8%. some of that has to do with japan, up 1.3%. the other thing in japan is the earnings start this weekend investors are inspecting more of a payout now in terms of dividends and someone because japan has been doing well and companies have been doing so well and the yen has been weak, which has helped companies for the most part. japan up 1.3%, the kospi up 1%, that's a slightly different story next to sk hynix for some of these gains. sk hynix of more than 4.25% right now, it will invest in a played in indiana in the united states. it will do research and of element on ai chips and that is having a halo effect on chip stocks around asia, at the moment helping indices move higher, as well as the fact that chip plants are coming back online in taiwan after yesterday's tragic earthquake.

the kospi up 1% but if we flip up the board, a little more volatility in currencies. begin today still trading around 151.70, not in the danger zone, thanks to lee for the dollar which had been strengthening day after day and finally saw weakening today. the yuan, the renminbi, is one to keep an eye on because we were very close to the weakest part of the trading band once again today. it shows that pboc policymakers are very close to more intervention if that bypasses that. the offshore yuan, of course, has been flirting with that level several days. the onshore yuan now as well. i wanted to point out copper, because you mentioned oil being on a tear. we are seeing it across the commodity complex. copper up another 0.8%. partially thanks to the pmi data out of china this week. but also all of those other reasons you just laid out, lizzy. tom: yet, iron ore dropping toward a 10-month low.

we will get to that later in the program. usually would say copper and iron are moving in a similar direction, but we will discuss the commodities picture in the program. vonnie quinn in dubai, thank you for that update on asian markets. let's dig deeper into the fed story. we had share jay powell again signaling that the central bank was going to wait for clear signals of lower inflation before the fed cuts rates. take a listen. >> these recent data do not however materially change the overall picture. which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down towards 2% on a sometimes bumpy path. on inflation, it is too soon to say whether the recent readings are present more than just a bump. we do not expect it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%. lizzy: for more, i'm joined by bloomberg's kriti gupta. jay powell's message seems

pretty clear. why is the market making it so difficult? kriti: you are not the only one in charge. as you know, for the boe, it is very touch and go in terms of what the consensus is. this diversion within the fomc going from even the most average people like rafael bostic, reiterating that we may only see one cut in all of 2024, while some of his peers just 24 hours ago saying three are still on the radar. there is a massive difference in terms of the readthrough, that's why the best way to interpret this is what you see in the bond market. look at the 10-year yield, 4.36 right now. if we pull out an intraday chart, take my word, it's very choppy trade which shows the market doesn't know who to listen to. it doesn't know where the consensus is coming from because the wage data is all over the place because of the inflation data. we don't know if the bump that we saw, the mom higher in the last couple months, and it has been two to three month of hot data. is that just a temporary bump or

is that something indicative of inflation going off the rails? lizzy: to july or beyond, when to cut first, did powell make clear which data he is looking at to make that decision? kriti: he is sticking with wage data, the labor market is too soft, the pce numbers. he didn't veer too much off script, but it is interesting that he did say we are considering all the options. if you look at the nitty-gritty of what he said, he specifically said there could be a reason to reevaluate in a couple of months, as opposed to in previous speeches, he has backed himself into a corner, to your point about the june and july. that's why the markets are so careful about pricing that june cut. yes, it is 50% but still on the table because that was a timeframe jay powell give before. the fact that he said this could potentially be an early indicator of getting off the rails, or indicator of inflation being sustainably higher, was the indication he gave. it is not just base case, but he is saying these are the

questions we have to ask now. lizzy: speaking a backing into a corner, where does it leave the european central banks, the boe and the ecb, who might not want to jump first and go before the fed? kriti: they might not have much choice because whatever central banker loves essays we are not watching what the other central banks are doing. we are doing what is right for our own nation, which is right, but this would be a historic moment if the ecb were to cut first. the difference here, and we saw this in inflation hours yesterday, that inflation is coming down faster in the euro zone. you are seeing that tick up in the data that you are seeing on amanda states, that's why the divergence make sense. the difference i would say now is that markets are starting to believe it and the best way to see that is in the currency picture. lizzy: we will dig into that with our mliv team later on. kriti gupta, thank you for joining us. she will be on markets today later in the morning. for now, let's get back to the geopolitics. we have got a sick of get meeting. nato foreign ministers meeting

in brussels today as the alliance marks its 75th anniversary. secondary general jens stoltenberg will be speaking later this morning at 9 a.m. u.k. time. here is what he had to say after the bloomberg scoop on his proposal for a $100 billion five-euro funding plan for ukraine. >> we are chance forming nato's comprehensive of assistance package into a multiyear program of assistance. we are helping ukraine move closer to nato. nato standards on everything from procurement or logistics. and we are supporting ukraine's efforts to bring ukraine ever closer to the alliance. lizzy: joining us for more is bloomberg's natalya in brussels who has been all across this meeting. i noted that blank and's -- blinken's official plane broke down on the way to this meeting. as the turbulence a sign of things to come? >> just the point on everything

on the nato allies' agenda at the moment, i think top of mind as the war in ukraine, and how to make that aid more sustainable over the long term. which is why we have seen this proposal come from stoltenberg. it talks about $100 billion for ukraine over five years. it's not clear whether allies will back that, but there is a lot of questions for ministers about the viability of that plan, and where the money will come from. but in general, allies want to figure out a way to make this a more sustainable, in light of a lot of uncertainty in the political sphere with elections coming up in the u.s. and a possible return by donald trump. lizzy: because perhaps that could undo this proposal. even if it goes through. how united are allies about that? but also, the challenges they

face in general, as we are at the 75th anniversary. >> as i mentioned, they are facing internal challenges with some doubts among allies about the commitments by the u.s. to european security. not just because of the trump threat but for a oil now, the u.s. has been focusing more towards asia and china. so european allies are realizing they will have to support more in a more significant way than they ever have. so you have these internal dynamics, but at the same time, you have the biggest land war on the continent that europe has seen since world war ii. and you have all these other conflict or updating, including the middle east, so they are having to manage all of these attacks at the same time. lizzy: they have got to pick a successor to jens stoltenberg. where are we in that race? >> the majority of allies wanted

to sign off on dutch prime minister mark rutte at this meeting but there was a surprise twist in recent weeks that the romanians supported their own candidate, so that has delayed the timeline on signing this off. but the feeling is that candidate came forward too late to make any real difference, so most likely rutte will be jens stoltenberg's successor, but it will take a few more weeks to sign that off. lizzy: we will speak to the man himself, but natalia in brussels, thank you for that update on the nato meeting. stoltenberg will join the surveillance team for a live interview tomorrow. they will discuss aid to ukraine , the prospect of a trump presidency, and those succession plans. that interview at 12:30 p.m. u.k. time, do not miss it. we have plenty more on the

docket today. at 7:30 a.m. u.k. time, we get swiss cpi for march, that suspected to have ticked up to 1.3 percent, though it has fallen rapidly the pasty humans from them context. it precedes the ecb minutes at 12 p.m. u.k. time, you have got a june cut looking like a done deal, therefore the focus turning to how many cuts will follow this year. an hour after, we will get u.s. initial jobless claims. we will watch out for how many people were laid off as a result of the baltimore bridge collapse, of course. that will tee us up for the main data event of the week, the u.s. jobs report from march that comes out tomorrow. we will get fedspeak from master, bargain, harker and goolsby. what a mouth full. whatever happened to less is more. you can get a roundup of the stories to get your day going in today's edition of daybreak. terminal subscribers can find it by going to dayb .

coming up, we will go to the middle east. pressure on netanyahu is mounting. a prominent member of israel's war cabinet says national elections should happen as soon as september, not in 2026. this is bloomberg. ♪

lizzy: welcome back to "bloomberg daybreak: europe." to israel. a permanent member of the war cabinet says national elections should happen in september, instead of as scheduled in 2026. gantz has ramped up pressure on netanyahu who has faced an international backlash on the assault in gaza. paul waul is doing just for more from dubai. morning, paul. i wonder if you can give us context on how influential gantz is, and if he pulled out of the war cabinet, with that force netanyahu's hand? >> to start off with benny gantz, he is increasingly influential in israel. he is now the most popular politician in the country with ratings far higher than those of prime minister benjamin netanyahu. if there was an election held tomorrow, benny gantz's national

unity party would almost certainly come out with the biggest number of seats in the knesset, the parliament. he is an opposition leader, but he joined this emergency war cabinet that is only made up of five members, soon after hamas's attack on october 7. gantz is 13 voting members, the other two being netanyahu and their defense minister. so he is a limit certainly important person. as to the question about whether him pulling out of the war cabinet would collapse the government, the answer is not necessarily. netanyahu's coalition, which is broad-based, but very right wing -- the most right in israel's history, still holds the majority in parliament and in theory, could survive even if the war cabinet itself collapsed. but we should be under no illusions if gantz full doubt,

he hasn't said he will, but if he did, that would certainly weaken netanyahu's hand. lizzy: internationally you have also heard chuck schumer the majority senate leader calling for early elections, too. you have biden and netanyahu expected to speak on the phone later today. how isolated is israel at this point, after the killing of those 78 workers -- seven aid workers? is netanyahu underestimating how frayed the u.s. relationship is at this point? >> a lot of people are underestimating housetrained and angry the u.s. is becoming, let alone the other allies in the west end even the arab world. in terms of isolation, the u.s. is still backing solidly and providing military hardware for its war against hamas in gaza.

and everything the white house has said to there is no way that it is going to limit weapons sales to israel. or put conditions on their use. so in that sense, israel still has the firm backing of the u.s., which is by far its most important ally. and netanyahu knows u.s. politics very well. some might argue he is underestimating just how angry people in america and beyond our with the war in gaza right now. but he is also astute as a tactician, and he seems to be banking on american support staying for this war in gaza. even if he follows through with things like sending forces into the city of rafah. lizzy: that the latest on israel. bloomberg's middle east and north africa editor, paul wallace, we thank you for that update.

of course, the geopolitical risk feeding into the oil story. next up, we will discuss the oil rally rolling on. we will look at why some analysts say brent could hit $100 a barrel this year. this is bloomberg. ♪

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>> our baseline view is to assume we will be hitting $90 by may. it will be there by april. you correctly pointed out to risk is on the way to our price forecast, so we will be hitting $100 as well. lizzy: j.p. morgan's head of global commodity strategy. no surprises, opec-plus sticking to supply cuts, despite crude prices at almost $90 a barrel in

london. the highest of this year. natosha telling us you could see oil at $100 a barrel by august or september per less get more from bloomberg's senior energy reporter. i have a note in my inbox from a commodities team saying the higher oil prices more about tighter supply than geopolitics. are they right? >> i think, certainly, this is a story of fundamentals. what is most interesting is when you look at the fundamentals coming into the new year, i'm sure i was sitting in this chair in december saying everything was looking bearish for 2024. but opec-plus has come through. they have had their cuts. they were expecting some froth in the market, so they carried through the cuts from the first quarter, put them through into the second quarter. they had a meeting yesterday saying they will extend them -- they reaffirmed extending them through german -- and demand has

been more resilient than people had expected, with the economy kind of trudging along. all of that together is feeding into a bit of a deficit. the iea says there is a deficit for the oil market in the second quarter. at the same time, you have a few things happening around the world. mexico reducing their exports of have your crew to refineries. that's going to cause -- heavier crude to refineries pre-that's going to cause an issue. at the opec+ meeting yesterday, they reaffirmed that they have got to hit their targets when it comes to their cuts. iraq has been pumping a bit higher than what they had promised. russian oil also rising. all that together is driving this fundamental deal, jp morgan said $100 a barrel, we are at $90 right now, so it will be an interesting few months. lizzy: really briefly. i want to talk about this slide

in european natural gas prices continuing. we have got european economic activity sputtering along, how much further can they fall? >> what's interesting is they could continue falling, especially since their inventories are so high. one of the factors to look at, european prices and asian prices are sort of linked to a degree. and if prices fall low enough, it could trigger some buying in asia. the chinese, as well as india and southeast asia in countries, might be interested in buying some lng. les and lindsay will go to europe and more will go to asia. -- less lng will go to europe and more will go to asia. that could act as a floor. we could follow a little bit but maybe it won't come collapse if asia comes to the rescue. lizzy: stephen stapczynski with that update. we have a lot of action in the commodity space. gold setting a new record. $2300 an ounce on the

affectation of rate cuts this year. copper hitting a 14-month high. goldman sees a high of $12,000 by q1 next year. you might say it is curious that you have got iron ore dropping towards a 10-month low, curious because iron ore and copper tend to move in the same direction when it comes to china and use. essentially -- china news. copper more useful and broad in its utility, and supply and demand dynamics varying there. speaking of china, we will speak about the treasury secretary's visit next. this is bloomberg. ♪

it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. lizzy: good morning.

this is "bloomberg daybreak: europe." i'm lizzy burden in london. stocks gain in asia, along with u.s. futures, as jay powell reaffirms his view the fed will cut rates this year. but he says the central bank is in no rush to loosen policy. >> reducing rates too soon or too much could result in a reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2%. lizzy: oil rolls on. brent crude floats with $90 a barrel, as opec+ sticks with supply cuts through june. janet yellen goes to beijing, the treasury secretary warns against decoupling from china but says trade must be on a level playing field. welcome to thursday. if we just think back to jay powell's remarks yesterday, we are still in wait and see mode, not a lot changing when it comes to his message. you had relief for stocks and

bonds yesterday and it is set to continue later today. futures pointing to a higher opening both in the u.s. and europe. if we flip to the cross as a picture, you can see those comments from powell didn't move the dial much when it came to expectations for rate cuts from the fed. still on a knife edge when it comes to whether we will have a june cut. you have treasuries ending broadly higher yesterday. the two-year yield currently at 4.68%, higher a basis this morning. the dollar has been a little weaker this morning. really it's not as coupled as closely with expectations for fed moves. that relationship seems to have evaporated somewhat. gold though very much listening to this fed chair jay powell. it has hit another record high. every day this week it has done that. 2300 dollars an ounce it smashed through.

and brent 89 barrels or barrel. we have been discussing opec-plus sticking to supply cuts but also factoring in the geopolitical risk. could it hit $100 a barrel by late summer? jp morgan reckons so. let's get to vonnie quinn. she has an update on how asian markets are faring. vonnie: we are off the boil now on some of these markets, but still a nice rally today. bigger picture, china, hong kong and taiwan are all closed. hong kong will be trading in the friday session. we are counting on some markets to keep us higher in this rally today. the msci asia pacific index up 0.6% now, off its highs. the nikkei was up as much as 1.6% earlier, less than 1% now, plenty of good news out of japan including the fact that we are starting earnings season for japanese companies. we had konica minolta announcing job cuts earlier on.

that sense that stock higher. it was enough to put some fear into the market but we are seeing investors expecting more dividends, more in the way of payouts from companies. that could be coming down the pike this quarter for japanese companies. we have the chips story. the cost be rallying now more than 1%. that's thanks in part to sk hynix, which is investing $4 billion in a factory and research center in indiana. that is having a halo effect on ship stocks across the region and is sending the kospi to a 1.1% gain right now. across the region, we're also seeing the re-onlining of factors after the tragic taiwan earthquake yesterday which kills nine so far. we don't know how many others are still trapped or missing. the factories themselves are coming back online and that's having positive impact on the chip players. elsewhere, it's the macro story. it is relief for the dollar which is helping some currencies, including the yen, 151 point 69, slightly away from

the danger zone. we had comments from the former bank of japan member who said that the bank would be likely to wait until october before we see another interest rate hike. that's likely to be playing into those dynamics, too. little less satisfying to see the yuan trading close to the weakest end of its trading band because we have been seeing that now for a few days and it is obvious that the pboc authorities have been watching closely, perhaps intervening, at least stopping swaps contracts going ahead and someone. doing small things like that. but it is not enough to dissuade the bears that we will continue to weaken, so we see the onshore and offshore flirt with that weak end. you mentioned cover rising -- cover rising, and a china pmi's park living through the market. maybe not the oil market but definitely the copper market which is at a 14-month high at this point. lizzy: plenty happening in asian markets.

even though china, hong kong and taiwan are on holiday. vonnie quinn in dubai bringing us the sunshine. thank you for that update. let's get back to the fed chair jay powell. yesterday signaling that policymakers will need clearer information of lower inflation before cutting interest rates. but he says the bump in prices recently hasn't altered the feds broader trajectory. >> let's bring in mark cranfield from bloomberg's mliv team now. mark, we saw treasury yields going through a bit of a round-trip yesterday. the hawkish comments from bostic sent yields higher. then you had powell a little dovish, sending front end yields lower, you also had the economic data feeding into the story. what market reaction could we see from the jobs data we have yet to come? >> if there is any big changes, we will see it in the foreign-exchange world. we are in a pretty interesting

situation for the u.s. dollar. positioning-wise, traders are pretty long u.s. dollars, they have been for a few weeks, which is not surprising. we had a strong set of u.s. data. we have also had a fairly hawkish speakers from the federal reserve pushing back against early rate cuts. the jobs data comes out tomorrow. the market is relatively long the dollar. you can see especially in dollar-yen which is not far from 152. but people will run out of patience if they don't see some joy for the positions they have built up. if we get a number in the nonfarm payrolls which doesn't meet expectations, a little on the soft side, that could trigger quite a wave of u.s. dollars selling which spills over into next week. if dollar-yen goes down, that may trigger the euro, the pound, australian dollar. they all look like currencies which could benefit quite a lot if there is a turn in the u.s. dollar. even if the jobs data is very strong, which is up dollar-yen, we would expect japanese

authorities to have limited patience as to how much further they allow it to go. not far above 152. you can imagine the japanese authorities will say enough is enough. and they will start supporting the yen. that will trigger sales of dollar-yen into next week and will probably help the u.s. dollar come down generally. either way, it's a very big 24 hours for the u.s. market, especially for people holding long dollar positions. lizzy: when you have got rate because delayed, what does that mean for bonds and equities? >> the bond market will probably go through a bit of a sideways pattern for some time. we haven't seen a huge difference in yield over the past three months, it's been fluctuating around. that can continue for a while. until we get the next set of dot plots, which tells us maybe there is only two cuts coming. but they are still a way off. for now, a bit more range trading but from the equity market point of view, they can absorb that quite easy.

people are looking at equities being able to deal with 5% interest rates for a long time. they have factored it into their equations. there is nothing really to stand in their way, as long as the earnings numbers come out ok, we get the big banks starting next week. if we get through that without too much trouble, they can live with rates pretty much staying on hold for a while. we have got the ai component as well. so the equity market can probably absorb it a lot better than the bond market can. lizzy: mark cranfield from bloomberg's team, thank you for that. one person who will be not too displeased if it takes the fed little longer would be andrew at pimco. pimco betting the fed will cut rates less than other central banks. why? because they have this higher proportion of fixed-rate mortgages, and therefore, it takes longer they reckon for monetary policy to feed through. therefore, they have been favoring debt in europe and the u.k. instead.

interestingly, we will speak to andrew later in the day on markets today. but let's stay in the u.s. and flipped to the politics. the geopolitics because u.s. secretary of treasury janet yellen's is in china for the second time in nine months. during her stop in alaska, she emphasized the need for cooperation. >> we have agreed that it important to both of us that we don't want to decouple our economies. we want to continue, we think it will benefit from trade investment but it needs to be on a level playing field. lizzy: for more, let's bring in senior editor bill faries. what's the extent of this overcapacity issue? >> it's becoming a major concern for the u.s. and frankly, you have to include the context that this is an election year. the u.s. and some allies are increasingly concerned that

china is looking to export more of its industrial capacity, as its ability to absorb some of that capacity at home seems diminished with moderating growth. particularly in the clean area industry, that has been a priority for the biden administration in terms of diversifying supply chains and bringing a lot of that production back. that's an area they are looking at closely. janet yellen's trip, at least the message of the trip is time to give a heads up on what may be coming to chinese leaders, as well as provide a little more stability in this relationship between beijing and washington. remember, there had been a more than a year break in communication on jill biden and xi -- on jill biden and xi -- until biden and xi met late last year in san francisco. this is adding to the sense that communication can continue even after all be overcapacity on the

u.s. side and restriction on technology transfers. lizzy: the call between biden and xi, the readout of it seemed a little tense on the chinese side, than the u.s. side. are we getting the sense that is how things will come over the next three weeks as we have the yellen visit, but also, antony blinken heading over to china? >> i think the chinese know that there are some more trade restrictions coming. in addition to these potential trade barriers on clean energy, there has been a lot more talk about the u.s. pressuring allies such as south korea and japan to limit their servicing of high-tech semiconductor equipment that was sold to china before some sanctions came in place. it's a rough, complicated relationship at this point that will probably be made more turbulent as the u.s. gets closer to the november presidential election.

i think china is aware of the politics involved. at the same time, they are interested in luring investment that they can. they are interested in keeping companies involved in the chinese economy. he saw president xi meeting last week with a number of american ceo's and executives. they realize they want to stay connected to. they don't want trade battles to become worse but the reality is that it could be a rocky road ahead in the coming months. lizzy: bloomberg's is senior editor bill faries, thank you for that update on the yellen visit to china. coming up, disney ceo wins a vote of confidence but what does it mean for the boardroom drama? will it have a fairytale ending? we will bring you that story next. this is bloomberg. ♪

lizzy: welcome back to "bloomberg daybreak: europe." walt disney shareholders handed ceo bob iger a vote of confidence, rejecting nelson peltz's bid for a board seat. he won just 30% of the votes cast and the stock fell the most in more than six months following the result, but it is still up 32% so far this year. let's bring in charlie wells to parse this is drama. what more would we expect from disney? >> they are treating it a lot like a political campaign. it was probably one of the most hard-fought proxy battles in recent history. disney spent $40 million on these campaigns. the peltz side spent $25 million. they sent mailers to shareholders. they even sent out promotional

videos, disney did, indicating how they wanted people to vote using disney characters. lizzy: that would persuade me, i'm a mini mouse gal myself. is peltz owing to retreat in this fight? >> his company on 3.5 billion dollars of disney shares and he has tried to get seats on the board before. he indicated before yesterday's vote that he would continue to watch the company. he has a lot of skin in the game. so he is not really going anywhere. some of the issues you brought up in this campaign works solved yesterday. he had issues with disney's content and with its succession planning. those are problems that work solved yesterday. lizzy: where does disney go from here? >> they need to be rates are focused on eiger's turnaround plan. he has been trying to update espn for the streaming era. they have been investing a lot in parks. we think a lot about disney movies but parks bring in 70% of profits. they have invested $60 billion in those parts.

it's looking good but they have to stay razor focus because all eyes are on them. lizzy: bloomberg's charlie wells with an update on the disney drama. now some other stories making use this morning. bloomberg learned apple is investigating a push interpersonal robotics. a field with the potential to come one of the company's ever-shifting next big things. engineers have been a glory a mobile robot that can follow users around their homes and also an advanced tabletop home device that uses robotics to move a display around. we are told it is unclear whether the products will ultimately be released. elsewhere, shares in paramount surged more than 15% after reports that redstone is getting closer to sell her stake in the film giant to david ellison's's guidance. redstone has been weighing a sale of the family holding company national amusements to ellison for months. national amusements holds a near 80% voting stake in paramount global, the parent of cbs and

mtv. asset manager aviva, part of the insurance group, is tapping australia's pension funds to partner in private deals in the u.k. and europe. as a surging pool of requirement savings lures investors. the firm has been talking to some funds about co-investments in district centers and residential develop is in his push to double its real assets portfolio over the next five years. meanwhile, aviva's ceo says progress towards gender parity in u.k. financial services is too slow. amanda blank is regarded as a champion for diversity and equality in britain. and as one of the few female leaders of a european blue-chip. in an interview with francine lacqua, she highlighted the importance of shared parental leave. >> if you are looking at the ftse 100 and you have 10 female

ceos, 90 male ceos, you have to say something is not quite right about that. if we look in financial services, we have seen 1% improvements year on year. that's good and we should celebrate that. but it's not quick enough. so, i think we have to have a look at what's going wrong. it is really the pipeline of women, if i talk about gender, women coming through, that is not strong enough, so we have to make sure we keep women at work being promoted. always the best person for the job, but making it easy for families, for the man and the woman to be able to work. >> is that flexibility? you have testified and we saw the episode. is it still easier for a man to do business in the city? >> i'm not sure it is easier for a man to do business. we have definitely seen something about behaviors. certainly, i asked for women to

contact me prior to giving evidence to the treasury select committee and i have heard about lots of bad experiences. you have to get shared parental leave right. if you are looking for what makes it easier. i believe 80% of our men take the full six months off parental leave. i think that sets the tone right from the very beginning of childcare responsibilities that that is a shared responsibility. that makes a big difference. at that point, it becomes easier for the man and the women to do well. what we want clearly is for both to do well. >> is that more important than sexism in the city? for me it was a watershed moment because this is on linkedin and you say, i would like to hear from testimonies of people that have allegations, either assault or bad appearances in the city, that was quite powerful. >> it was powerful and very emotional actually. i got hundreds and hundreds of private messages from that.

so you do still see that some women are experiencing bad behavior. that is clearly wrong. and that has to be dealt with by organizations. but i think there is the behavior point. and there is the systems processes you put in place to make sure that opportunities are available for both men and women to succeed. but the behavior has to be dealt with, dealt with by organizations, and women have to feel that if they speak up, that that will be dealt with. >> do you think that has gone backwards actually, that less people want to speak up? >> i'm not sure it has gone backwards, people are more prepared to call it out, so you are seeing more examples of that. it's hard to say if it has gone backwards because 10 or 15 years ago, you wouldn't be hearing about this at all. lizzy: and the important conversation, the aviva ceo amanda blanc speaking to francine lacqua. you can catch more of that interview on bloomberg u.k. at 9:30 a.m. london time.

next up, we're going to talk about the recent fedspeak, including fed chair powell yesterday, if your head is spinning, we have still got mester, barkin, parker and goolsby still to come today. we will tell you our analysis and whether the fed is still hawkish and how dovish it is getting. stay with us. this is bloomberg. ♪

>> recent readings have come in higher-than-expected. the economy added an average of 265,000 jobs per month in the three years through february, a faster pace than we have seen since last june. these recent data do not however materially change the overall

picture. which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bumpy path. if the economy evolves broadly as we expect, most fomc participants see it as likely to be appropriate to begin lowering the policy rate at some point this year. of course, that outlook is still quite uncertain, and we face risks on both sides. reducing rates too soon or too much could result in a reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2%. lizzy: fed chair jay powell reiterating that his central bank is still in wait and see mode. if your head is spinning from all of the fedspeak we have been having, fortunately, bloomberg economics has been tracking it for us. every single word of it. they reckon that if you look at sentiment, actually it's still in the hawkish side but becoming increasingly dovish.

cautious is the word mike mckie would use. where does that leave central banks in europe? who might not want to go first before the fed. if we flip the board, the ecb may cut ahead of the fed. this is what markets are currently pricing and where does that leave currencies? well, a potential risk here in europe. still to come on the program, next up, we have got "markets today" and they will speak to pimco's cio for global fixed income. do catch that interview at 8 a.m. u.k. time. kriti gupta and guy johnson will be with you next. this is bloomberg. ♪

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