Caroline Hepburn, Rishi Sunak, Europe discussed on Bloomberg Daybreak Europe

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And at 6 30 a.m. here in London a very good morning I'm Caroline Hepburn Welcome to daybreak Europe Now in a moment I'm going to be taking a look at the spring statement from Rishi sunak He had a defend the amount of money that he spent helping households amidst an energy and food and fuel price squeeze We have now the highest tax burden since 1949 here in the UK We will be speaking to the senior research economist at the institute for fiscal studies Ben This of course the president Joe Biden is in Europe for back to back meetings NATO G 7 and EU meetings around the war in Ukraine and trying to cement a deal to help Europe wean itself off Russian energy how quick and easy might that be As for global markets this morning bond market stemming record losses so we see U.S. yields right now two 35 up 5 basis points We've seen a sell off in stocks that continues in Asia MSCI Asia Pacific index now down a quarter of 1% but actually futures have turned positive for U.S. stocks 50 futures up two tenths S&P 500 even many features up four tenths of 1% Also keep in mind of course that Vladimir Putin has demanded that quote unfriendly countries pay for energy in rubles to the ruble sword yesterday although it still 31% weaker than it was on a year ago versus the U.S. dollar even if it got a 5% boost And Brent crude prices trade now at a $121 at the barrel We also saw Nat gas prices in Europe as surging 30% yesterday That's a look at the markets then and the Bordeaux overview Let's get to our top stories now but it both Laura Wright has the details Good morning Caroline president Joe Biden has touched down in Brussels ahead of key summits with NATO and G 7 leaders later The alliance will consider a packet of new sanctions at once placed on Russia Bloomberg's Ed Baxter has the story Along with a show of solidarity the U.S. wants some even stiffer penalties placed on Russia and national security adviser Jake Sullivan says enforcement is very important to agree on.

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