Caroline Hepker

The KOSPI, though, up by 2.2%.

Stock futures for Europe also surging a solid four tenths higher this morning.

The pound and euro weaker.

Treasury yields, 10-year US yields flat at 4.07.

Those are the markets.

I'm Caroline Hepke.

And this is Bloomberg.

And I'm Caroline Hepke in London.

We're the hosts of the Bloomberg Daybreak Europe podcast.

We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.

And from London, I'm looking at what all that means for markets, money and the wider economy.

So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.

And it fits into your morning.

News when you want it with Bloomberg News Now.

I'm Caroline Hepker.

Federal Reserve officials have shown surprising caution about cutting interest rates, which could widen the central bank's rift with the White House.

Minutes from January's meeting showed policymakers seeing the US labour market stabilising, but inflation still stubbornly high.

Now that puts the central bankers at odds with President Trump, who has repeatedly said that he wants the next Fed chief to deliver sharply lower interest rates.

Morgan Stanley's chief U.S.

Secretary of State and CIO Mike Wilson says that ultimately the Fed will cooperate with the Treasury.